BELLINGHAM, MASS. — R.W. Holmes Realty has arranged the sale of an office and warehouse building located at 24 Williams Way in Bellingham. Gainsboro Brothers LLC sold the property to Matt Clark of TMC Holdings & Development for $1.9 million. Situated on three acres, the building features 34,700 square feet of office and warehouse space. The buyer plans to renovate the property and site for multi-tenant use. John Eysenback of R.W. Holmes represented the seller and buyer in the deal.
PLANO, TEXAS — Rubicon Representation has arranged the sale of an office building located at 4011 W. Plano Parkway in Plano. Wells Asset Management sold the 29,352-square-foot property to a local investment partnership for an undisclosed price. Current tenants at the property include The Einstein School and Farmers Insurance, and Sea Link International will relocate its office to the property from downtown Dallas. Daniel Miller and Graham Perry of Rubicon Representation represented the buyer and new tenant, while the seller had in-house representation.
GREENVILLE, S.C. — The Greenwich Group International has secured $52.9 million in acquisition and renovation financing for Park Central and Park East, two office parks in Greenville totaling 570,000 square feet. The financing included a $39 million loan and $13.9 million in joint venture equity. The borrower, Atlanta-based TWO Capital Partners, purchased the properties in an off-market transaction. Located in Greenville’s I-385 corridor, Park Central and Park East feature 12 buildings that were 70 percent leased at the time of sale. Don Atchison, Steve Lorenz and Larry Baucom led Greenwich Group’s team in securing the financing.
BRENTWOOD, TENN. — Avison Young has brokered the $26 million sale of Gateway Plaza I and Maryland Park Center in Brentwood, a suburb of Nashville. Gateway Plaza I is a three-story, 82,848-square-foot office building located at 5409 Maryland Way. The property was fully leased at the time of sale to tenants such as Foundations Recovery Network, Henderson Financial Group, The Layton Cos. and Right Management. Maryland Park Center is a three-story, 43,696-square-foot office building located at 115 East Park Drive. The building was fully leased at the time of sale to tenants such as Vulcan Construction Materials, Nashville Sleep Medicine, Maxim Healthcare Services and CareSpot. Don Albright, Lisa Maki, Mike Jacobs and Ashley Albright of Avison Young represented the seller, Sun Life Assurance Co. of Canada. The acquisition is the first purchase in Brentwood for the buyer, Albany Road Real Estate Partners.
WEST PALM BEACH, FLA. — NXT Capital has provided an $18.5 million acquisition loan for Centrepark West, a four-building office park totaling 175,000 square feet in West Palm Beach. The site is bordered by I-95 to the east and Palm Beach International Airport to the west. Christian Lee and Amy Julian of CBRE’s Miami office arranged the loan through NXT Capital on behalf of the undisclosed borrower.
SCIO TOWNSHIP, MICH. — Signature Associates has negotiated the sale of 104,590-square-foot office building located at 7322 Newman Blvd. in Scio Township, west of Ann Arbor. The sales price was not disclosed. The building was vacant at closing. The purchaser, Ari-El Enterprises, has hired Signature Associates to begin securing tenants for the complex. John Fricke of Signature Associates represented both the buyer and the seller, Thomsen Reuters.
HOUSTON AND SPRING BRANCH, TEXAS — LMI Capital has arranged acquisition and refinance loans for three separate properties in the Greater Houston area. Brandon Brown of LMI originated a five-year, $5.2 million, fixed-rate loan for a 90-unit multifamily asset in Spring Branch; Kurt Dennis of LMI originated a five-year, fixed-rate loan with flexible prepayment for the acquisition of a 20,000-square-foot office building in Houston’s Kingwood submarket; and Jamie Mullin of LMI placed a 10-year, fixed-rate, $7.5 million loan for a 250-unit asset in Houston’s Braeswood submarket.
HOUSTON — NAI Partners has arranged the lease of an industrial office and warehouse building located at 5808 Hamblen Road within Logistics Park at World Houston in Houston. Winchester Source Technology LLC will occupy the 12,000-square-foot speculative building. John Ferruzzo and Nick Peterson of NAI Partners represented the landlord, Adkisson Development, while John Ginder of Caldwell Cos. represented the tenant in the transaction.
HOUSTON — Lee & Associates has brokered the lease of an 8,000-square-foot industrial and office building at 3023 Farrell Road in Houston. Eurochem International Corp. will occupy the single-tenant facility. Reed Vestal, Cameron Hicks and Taylor Schmidt of Lee & Associates represented the tenant, while Mike Spears and Robert Noack, also of Lee & Associates, represented the undisclosed landlord in the deal.
LAKE MARY, FLA. — Parmenter Realty Partners has received $84 million in financing to partially fund the company’s acquisition of Primera Towers I–V, a five-building office park in Lake Mary. The 772,000-square-foot park is located at 605, 610 and 615 Crescent Executive Court and 255 and 300 Primera Blvd. just north of Orlando. Holliday Fenoglio Fowler (HFF) arranged the financing. Primera Towers is 89 percent leased to tenants like Blue Cross & Blue Shield, Liberty Mutual, Paylocity, D+H, Dixon Ticonderoga and HNTB. The park features on-site fitness centers and a café with patio seating. The suburban mid-rise buildings were developed between 1997 and 2000 immediately east of Interstate 4. HFF’s Ed Coco and Matt Casey worked on behalf of Parmenter Realty Partners investment fund and an institutional equity partner to secure the funds through JPMorgan Chase Bank NA. Parmenter acquired Primera Towers for $130 million. The seller was a joint venture between Banyan Street Capital, Oaktree Capital Management and Balandis AG. Mike Davis, Michael Lerner and Rick Brugge of Cushman & Wakefield represented the JV in the sales transaction. This sale was the first time in the park’s history that ownership has ever been consolidated. Parmenter plans to expand the …
