Office

Holder Properties to Develop Blackbaud’s New Corporate Campus in Charleston

by John Nelson November 14, 2016

CHARLESTON, S.C. — Blackbaud, a Charleston-based cloud software provider for nonprofits and similar organizations, has selected Holder Properties to develop the company’s new corporate campus in Charleston. Blackbaud’s new campus will consist of a two-phase project situated on 13 acres in the Daniel Island community. Phase I will consist of a four-story, 172,000-square-foot office building and a 650-space surface parking lot located at the corner of Fairchild and Central Island streets. The site is planned to accommodate a second phase expansion for up to 175,000 square feet of additional office space. Construction began in October and Blackbaud will occupy the building upon its completion in the first quarter of 2018. The project team includes architect ASD and general contractor Balfour Beatty. Lee Allen, Chase Monroe, Graham Summers, Denice Michel and John Robinson of JLL represented Blackbaud in the transaction.

November 14, 2016

Loans New York Northeast Office

Meridian Capital Secures $30M in Financing of Office Property in Manhattan

by Amy Works November 14, 2016

NEW YORK CITY — Meridian Capital Group has arranged $30 million in financing for the refinance of an office property located at 264-268 W. 40th St. in Manhattan’s Garment District. The 10-year loan, provided by a national balance sheet lender, features a competitive fixed rate of 3.5 percent. Avi Weinstock, Josh Rhine and Luke Hingson of Meridian secured the financing for the borrower, Renaissance Properties. The 20-story, 120,000-square-foot office building is occupied by 40 tenants, including two restaurants as retail tenants.

November 14, 2016

Office Texas

Stream Energy Relocates to 55,226 SF Office Space in Dallas

by Amy Works November 14, 2016

DALLAS — Stream Energy has relocated to 55,226 square feet of office space located at 14675 Dallas Parkway in Dallas. Stream Energy is a leading company in energy, connected life services and direct selling. Jon Silberman with NAI Partners, along with Van Power and David Schrock of NAI Robert Lynn, represented the tenant, while the landlord, Cawley Partners, was represented internally by Jeremy Duggins.

November 14, 2016

Florida Market Reports Office Southeast Southeast Market Reports

Demand for Orlando’s Class A Office Space is Outpacing Supply

by John Nelson November 14, 2016

The Orlando office market is strong and continues to grow stronger. Vacancy rates are declining, rents are increasing and new developments are in the works. While many large office markets around the country seem to have reached or are approaching the peak of this real estate cycle, the market in the Orlando area still has great potential for expansion. According to the Orlando Economic Development Commission (EDC), there is currently an unprecedented level of office, multifamily and mixed-use development planned for downtown Orlando. This is largely thanks to Tremont Plaza, a 28-story mixed-use development being built by Lincoln Property Co. and Tremont Realty Capital. The $81 million development will have seven floors of office space totaling over 200,000 square feet, along with a 180-room hotel, making it the first large-scale Class A office project for Orlando in 10 years. With several other major multi-use commercial projects on the drawing board, the EDC calculates that more than 1 million additional square feet of construction is planned for Orlando’s downtown business district. There are several factors contributing to the office market’s prosperity, including Florida’s improving economy and business-friendly atmosphere. The state offers a favorable business tax structure, pro-business legislature and access to …

November 14, 2016

Industrial Office Retail Texas

NAI Robert Lynn Brokers Four Sales Totaling 120,722 SF in Texas

by Amy Works November 11, 2016

DALLAS, CEDAR HILL, FORT WORTH AND WAXAHACHIE — NAI Robert Lynn has arranged the sales of four properties totaling 120,722 square feet in Texas. In the first transaction, Taxco Produce acquired an 111,263-square-foot building located at 4202 Dan Morton Drive in Dallas. Matt Elliot of NAI Robert Lynn represented the tenant in the deal. In the second transaction, Tom Heraty of NAI Robert Lynn represented U Need Nails & Tan LLC in the acquisition of a 3,559-square-foot building located at 101 E. Belt Line Road in Cedar Hill. In the third deal, Colt Power of NAI Robert Lynn represented CAP Software in the purchase of a 3,200-square-foot building located at 7250 W. Vickery Blvd. in Fort Worth. Eric Walsh of HGC Commercial represented the undisclosed seller in the transaction. In the final transaction, Tom Heraty of NAI Robert Lynn represented the Rocksteady LLC in the acquisition of a 2,700-square-foot building located at 503 N. Highway 77 in Waxahachie. Sandia Properties represented the undisclosed seller in the deal.

November 11, 2016

Massachusetts Northeast Office

Alexandria Real Estate Equities Closes $725M Acquisition of One Kendall Square in Cambridge

by Amy Works November 11, 2016

CAMBRIDGE, MASS. — Alexandria Real Estate Equities has closed its acquisition of One Kendall Square in Cambridge. The company acquired the office and lab space property for $725 million from an undisclosed seller. The campus includes seven buildings with a total of almost 645,000 square feet of rentable office, lab and retail space.

November 11, 2016

Loans New York Northeast Office

Eastern Union Funding Arranges $15M Office Building Refinance in Staten Island

by Amy Works November 11, 2016

NEW YORK CITY — Eastern Union Funding has secured a $15 million non-recourse loan to refinance an office building located at 201 Edward Curry Ave. in Staten Island. The borrower, Addwel LLC, occupies 40 percent of the three-story, 82,528-square-foot office building. Additional tenants include ADCO Electric, IDB Bank, TCE Insurance Services and Vaslas Lepowsky Hauss & Danke. Meir Kessner of Eastern Union Funding arranged the financing, which was provided by Bethpage Federal Credit Union.

November 11, 2016

California Office Western

Progressive Real Estate Brokers 8,000 SF Retail Lease in Hesperia

by Nellie Day November 11, 2016

HESPERIA, CALIF. — Progressive Real Estate Partners has arranged the 10-year lease of a retail space located at 14135 Main St. in Hesperia. Kaiser Permanente will occupy the 8,000-square-foot space within the Topaz Marketplace. Paul Su of Progressive Real Estate Partners represented the undisclosed landlord, while Brian Denton of JLL and Joseph Brady of Bradco Co. represented the lessee.

November 11, 2016

Office Southeast Virginia

Rubenstein Partners Acquires 180,000 SF Office Building in Metro D.C. for $18.6M

by John Nelson November 11, 2016

RESTON, VA. — Rubenstein Partners LP has purchased a 180,000-square-foot office building located at 11493 Sunset Hills Road in Reston, about 20 miles west of Washington, D.C., in northern Virginia. Rubenstein plans to reposition and re-tenant the building and has selected Andy Klaff and Steve Hoffeditz of Newmark Grubb Knight Frank to lease the property. The renovations, which are set to wrap up by the end of 2017, will include fashioning higher ceilings within the floor plates, overhauling the HVAC and building management systems, renovating the lobby and restrooms, upgrading the aesthetic to a more “industrial-loft” design and enhancing the amenity package, including a new fitness center, conference center, food service and an outdoor deck. Built in 1988, the five-story building is the former home of Unisys Corp. and is situated within walking distance to the new Wiehle-Reston East Station on the Metrorail’s Silver Line, as well as a Whole Foods Market, Reston Station and Reston Town Center.

November 11, 2016

California Office Western

Mani Brothers Purchases the Landing at Playa Vista Office Building in Los Angeles for $80M

by Nellie Day November 10, 2016

LOS ANGELES — Mani Brothers Real Estate Group has purchased The Landing at Playa Vista, a 100,756-square-foot office building in the Los Angeles submarket of Playa Vista, for $80 million. The Class A property is located at 12655 Jefferson Blvd. The six-story property was originally built in 1985. It was recently redeveloped into a creative office space. The Landing underwent extensive upgrades, including exposed ceilings, open floor plans, multiple outdoor decks, and the conversion of an internal stairwell and a portion of the underground parking garage into office space. The building was fully pre-leased prior to the renovation’s completion. WeWork signed a deal for 78,000 square feet, which takes up most of the building’s space. Media and communication firm Dentsu Aegis Network leased the remainder of the property. Madison Partners’ Bob Safai represented Mani, while the seller, Hudson Pacific Properties, represented itself in this transaction.

November 10, 2016

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