Office

Trammell Crow Co. to Redevelop Motion Picture Association of America Building in D.C.

by Camren Skelton July 12, 2017

WASHINGTON, D.C. — Trammell Crow Co. (TCC), in partnership with Meadow Partners, has acquired an 80 percent condominium interest in the Motion Picture Association of America (MPAA) Building in Washington, D.C. Located at 888 16th St., the building sits adjacent to the Hay Adams Hotel and one block from the White House. TCC plans to transform the 50-year old property into a 150,000-square-foot office building featuring a rooftop lounge, fitness center and a terrace with views of the Washington Monument. The MPAA represents the six major Hollywood studios and administers the motion picture rating system. The organization retained a 20 percent condominium interest in the building and will occupy two of the eight floors upon completion of the renovation. The MPAA floors will feature modernized offices and a new theater and event space. Completed in 1969, the MPAA Building was designed by Vastimil Koubeck. Savills Studley brokered the transaction. Renovation on the property is slated for completion in summer 2019.

July 12, 2017

Office South Carolina Southeast

Colliers International Arranges $29M Sale of Office Tower in Columbia

by Camren Skelton July 12, 2017

COLUMBIA, S.C. — Colliers International has arranged the $29 million sale of Wells Fargo Tower, a 264,857-square-foot office tower located at 1441 Main St. in Columbia. Mark De Riemer of Colliers International brokered the sale to Atlanta-based Glenfield Capital on behalf of the seller, Franklin Street Properties Corp. The Class A building was 79 percent leased at the time of sale to 17 tenants including Wells Fargo, GSA, Centene and Accenture. Glenfield Capital has retained Tommy Johnson and David Lockwood of Colliers International to handle the leasing assignment for Wells Fargo Tower.

July 12, 2017

Healthcare Maryland Office Southeast

Avison Young Arranges $24M Sale of Medical Office Building in Metro D.C.

by Camren Skelton July 11, 2017

SILVER SPRING, MD. — Avison Young has negotiated the $24 million sale of Forest Glen, a 62,379-square-foot medical office building situated on the Holy Cross Hospital campus in Silver Spring, roughly six miles north of Washington, D.C. Jim Kornick, Chip Ryan, Mike Wilson, Erik Foster and Mark Johnson of Avison Young arranged the sale on behalf of the buyer, Healthcare Realty. The Nashville-based REIT purchased the asset from a joint venture between Washington, D.C.-based developer Foulger-Pratt and a global investment firm.

July 11, 2017

Office Texas

C-III Extends 57,000 SF Office Lease at Williams Square in Irving

by Taylor Williams July 11, 2017

IRVING, TEXAS — C-III Asset Management, a subsidiary of investment firm C-III Capital Partners, has extended its 57,000-square-foot office lease within The Towers at Williams Square, a four-building development located at 5221 N. O’Connor Blvd. in Irving. The company’s footprint within the Class A property will cover two floors. Tom Lynn and Zach Stevens of NAI Robert Lynn represented C-III in the lease negotiations. Bill Brokaw of Hillwood represented the landlord.

July 11, 2017

California Loans Office Western

Alcion Ventures Receives $60M Refinancing for Blackwelder Creative Office Campus in LA

by Nellie Day July 11, 2017

LOS ANGELES — Alcion Ventures has received $60 million to refinance debt on Blackwelder, a 157,560-square-foot creative office campus in Los Angeles. The campus is situated at the intersection of Fairfax Avenue and La Cienega Boulevard, adjacent to Culver City. Blackwelder was renovated in phases, which commenced in 2007. It contains 19 low-rise buildings on more than six acres. HFF”s Mark Wintner and Doug Bond arranged the financing. Heitman LLC provided the three-year, floating-rate loan.

July 11, 2017

Northeast Office Pennsylvania

CBRE Arranges $15.4M Sale of Office Building in Suburban Philadelphia

by Amy Works July 10, 2017

CONSHOHOCKEN, PA. — CBRE has brokered the sale of Three Tower Bridge, a single-tenant office building located at 2 Ash St. in Conshohocken, a suburb of Philadelphia. Gladstone Commercial Corp. acquired the property for $15.4 million. Jacobs Engineering Group occupies the 60,016-square-foot building. Robert Fahey, Jerry Kranzel and Erin Hannan of CBRE represented the seller, an affiliate of Oliver Tyrone Pulver Corp., in the transaction.

July 10, 2017

North Carolina Office Southeast

The Fallon Co. Acquires 184,144 SF Office Building in Uptown Charlotte for $24.5M

by Camren Skelton July 10, 2017

CHARLOTTE, N.C. — The Fallon Co., a Boston-based real estate developer, has acquired a 13-story, 184,144-square-foot office building located at 301 S. McDowell St. in Uptown Charlotte’s Second Ward neighborhood. The sales price was not disclosed, but the Charlotte Business Journal reports the asset sold for $24.5 million. The property will serve as The Fallon Co.’s Southeast regional headquarters. HFF negotiated the transaction.

July 10, 2017

Midwest Office Wisconsin

CBRE Arranges $66.5M Sale of Office Building in Milwaukee

by Kristin Harlow July 10, 2017

MILWAUKEE — CBRE Capital Markets has arranged the sale of Manpower’s headquarters in Milwaukee for $66.5 million. The 280,000-square-foot office building is located at 100 Manpower Place. The Class A property is fully net leased through August 2031 to Manpower Group Inc., a human resources consulting firm. Guy Ponticiello, Paul Lundstedt, Bill Bonifas and Maury Vanden Eykel of CBRE represented the seller, Riverbend Place. Bentall Kennedy purchased the building in partnership with Warba Bank.

July 10, 2017

Midwest Office Wisconsin

Colliers Brokers $1.5M Sale of Office Property in Milwaukee

by Kristin Harlow July 7, 2017

MILWAUKEE — Colliers International | Wisconsin has brokered the sale of a 23,796-square-foot office property in Milwaukee for $1.5 million. The building is located at 600 N. Broadway in the East Side commercial historic district. Anchor tenants at the property include End, Hierseman & Crain LLC, Mahler Enterprises and Bronfman E.L. Rothschild LP. Tom Shepherd and Cory Sovine of Colliers International | Wisconsin represented the seller, 600 North Broadway Partners LLC. Bruce Westling of NAI MLG Commercial represented the buyer, 600 North Broadway LLC, an affiliate of J. Jeffers & Co.

July 7, 2017

New Jersey Northeast Office

Marcus & Millichap Negotiates $2.3M Sale of Office Building in Saddle Brook, New Jersey

by Amy Works July 6, 2017

SADDLE BROOK, N.J. — Marcus & Millichap has arranged the sale of the leasehold interest of Park 80 East, an office building located at 160 Pehle Ave. in Saddle Brook. A private investor acquired the 83,160-square-foot property for $2.3 million. At the time of sale, the property was 50 percent occupied. Ben Sgambati and Alan Cafiero of Marcus & Millichap represented the seller, a private investor, and secured the buyer in the deal.

July 6, 2017

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