Office

Weiss Realty Brokers Sale of Office, Flex Building in Pine Brook, New Jersey

by Amy Works August 14, 2017

PINE BROOK, N.J. — Weiss Realty has arranged the sale of an office and flex building located at 34 Maple Ave. in Pine Brook. iStar Realty acquired the property from a partnership between the principals of CHT Group and Jaime Weiss, managing member of 34 Maple Avenue LLC, for an undisclosed price. Situated on 10.4 acres, the property features 130,180 square feet of space. Prior to the sale, Weiss Realty acted as property manager and leasing agent for the ownership. Greg Sabato and Scott Peck of Resource Realty of Northern New Jersey represented the buyer in the transaction. Meyner & Landis of Newark, N.J., acted as legal advisor to the seller, while Roseland, N.J.-based Mandelbaum Salsburg acted as counsel to the buyer.

August 14, 2017

Office Texas

Heady Investments to Develop 210,000 SF Office Building in Plano

by Taylor Williams August 14, 2017

PLANO, TEXAS — Heady Investments will develop Legacy South Office Center, a seven-story, 210,000-square-foot office property in Plano. Designed by Jack O’Brien & Associates and financed by Stillwater National Bank, the property will be situated on 4.4 acres on the west side of the Dallas North Tollway near Tennyson Parkway. General contractor Ed Henry & Associates expects to break ground on the project during the fourth quarter, with occupancy slated for February 2019.

August 14, 2017

Office Texas

UMB Bank Signs 19,000 SF Office Lease in Fort Worth

by Taylor Williams August 14, 2017

FORT WORTH, TEXAS — UMB Bank, a subsidiary of Kansas City-based UMB Financial Corp., has signed a 10-year office lease at 777 Main St. in Fort Worth. The lease includes 12,000 square feet of office space on the fifth floor and a 7,000-square-foot lobby. The company expects to move into the new space in 2018. Mike Gosslee and Jay Holland of Cushman & Wakefield represented UMB Bank in the lease negotiations.

August 14, 2017

Illinois Midwest Office

J.C. Anderson Completes 40,000 SF Office Renovation in Schaumburg, Illinois

by Kristin Harlow August 14, 2017

SCHAUMBURG, ILL. — J.C. Anderson Inc. has completed a 40,000-square-foot office expansion and renovation for Sagent Pharmaceuticals Inc. in Schaumburg. The property, used for the biopharmaceutical company’s corporate headquarters, is located at 1901 N. Roselle Road. The project included a full rehab of existing workspaces, new conference and meeting rooms, private offices, workstations and boardrooms. New office fronts, ceilings, wall and flooring upgrades/replacements were made to the renovated space. Joe Maguire and Joe Rojas of J.C. Anderson led the project team. Partners by Design provided architectural services.

August 14, 2017

Maryland Office Southeast

Merritt Properties Acquires 121,414 SF Office Building in Metro Baltimore for $24.6M

by Camren Skelton August 14, 2017

TOWSON, MD. — Merritt Properties has purchased 100 West Road, a 121,414-square-foot office building located at West Road and the Baltimore Beltway in Towson, roughly 15 miles north of Baltimore, for $24.6 million. The five-story, Class A building is LEED-EB Gold-certified and features open-air balconies, free surface parking, a conference center, onsite café and a fitness center. At the time of sale, the building was fully leased to tenants including Comcast, Robert W. Baird & Co., Regus and Liberty Mutual.

August 14, 2017

Georgia Loans Office Southeast

Walker & Dunlop Arranges $59M in Financing for Office Property in Metro Atlanta

by Camren Skelton August 14, 2017

MARIETTA, GA. — Walker & Dunlop has arranged $59 million in bridge and equity financing for Newmarket Business Park, a 471,486-square-foot office park in Marietta, roughly 20 miles north of Atlanta. Mark Strauss and Rob Quarton of Walker & Dunlop arranged the floating-rate bridge loan with full-term, interest-only payments through a debt fund on behalf of the borrowers, Praelium Commercial Real Estate and South Street Partners. A hedge fund invested the equity portion. Newmarket Business Park includes four single-story and two two-story office buildings constructed between 1983 and 1985. The asset was 85 percent leased at the time of closing to tenants including The Home Depot.

August 14, 2017

Healthcare Loans New York Northeast Office

Case Real Estate Capital Funds $16M Loan for Commercial Redevelopment Site in Queens

by Amy Works August 11, 2017

NEW YORK CITY — Case Real Estate Capital has funded a $16 million first mortgage loan secured by a commercial redevelopment site in the Flushing neighborhood of Queens. The borrower is Regent Medical Properties. The loan proceeds will be utilized to facilitate the acquisition of land and initiate pre-development work on the 20,803-square-foot site. The land parcel is slated for a 12-story medical office building with an ambulatory surgery center and street-level commercial space.

August 11, 2017

Georgia Office Southeast

Wealth Management Firm to Relocate Headquarters to Three Alliance Center in Buckhead

by Camren Skelton August 11, 2017

ATLANTA — Homrich Berg, an Atlanta-based wealth management firm, will relocate its headquarters to Three Alliance Center in Atlanta’s Buckhead district. Andy Ghertner and Carla Williams of Cushman & Wakefield represented the tenant, and Chris Ahrenkiel represented the landlord, Tishman Speyer, internally in the lease transaction. Homrich Berg will lease 26,126 square feet in the 30-story tower. Constructed in 2016, Three Alliance Center is the final phase of the Alliance Center office complex and features an on-site fitness center, conference center, 24-hour security, covered parking, a glass curtain wall system and 360-degree, floor-to-ceiling windows.

August 11, 2017

Office Texas

Adolfson & Peterson Breaks Ground on New Office Project for Apache in Midland

by Taylor Williams August 11, 2017

MIDLAND, TEXAS — Adolfson & Peterson Construction has broken ground on a new office development in Midland for Houston-based oil and gas exploration firm Apache Corp. The project will deliver a three-story building adjacent to Apache’s existing offices on Veterans Airpark Lane. Designed by Kirksey Architecture, the new building will feature 70,750 square feet of office space and amenities such as a daycare, fitness center and a physician’s clinic. Substantial completion of the property is scheduled for the first quarter of 2018.

August 11, 2017

Office Texas

CBRE Arranges Sale of Preston Plaza in North Dallas

by Taylor Williams August 11, 2017

DALLAS — CBRE has arranged the sale of Preston Plaza, a 250,009-square-foot office property located at the intersection of Preston and Frankford roads in North Dallas. Built in 1986 and renovated in 2015, the property was 91 percent leased at the time of sale. Eric Mackey, Gary Carr, John Alvarado, Jared Chua and Robert Hill of CBRE represented the seller, Caddo Holdings, in the transaction. Houston-based Tanglewood Property Group purchased the asset for an undisclosed price.

August 11, 2017

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