Office

Colliers Arranges $40.4M in Financing for 120,000 SF Office Building in Waltham, Massachusetts

by Amy Works February 10, 2017

WALTHAM, MASS. — Colliers International has secured $40.4 million in permanent leasehold financing for 60 Tower Road, a 120,000-square-foot creative office property located at the 1265 Main project in Waltham. The borrower is a joint venture between 1265 Main Street LLC and a wholly owned subsidiary of Boston Properties LP. Jeff Black and Kevin Phelan of Colliers arranged the 15-year, fixed-rate loan with Sun Life Assurance Company of Canada for the borrower. The LEED Gold-certified building serves as the corporate U.S. headquarters of Clarks Americas, a subsidiary of C&J Clark International.

February 10, 2017

Mixed-Use Multifamily New York Northeast Office Retail

Brooklyn Standard Properties Acquires Four-Building Mixed-Use Portfolio in the Bronx for $16.5M

by Amy Works February 10, 2017

NEW YORK CITY — Brooklyn Standard Properties has purchased a four-building mixed-use portfolio for $16.5 million. Fordham Apartments LLC sold the 56,836-square-foot portfolio that offers a total of 74 apartments, three retail spaces, office space and a 12-car parking lot. The portfolio includes a five-story, 22-unit building at 615 E. 189th St.; two four-story buildings at 2476 and 2483-2489 Cambreleng Ave. totaling 38 units; and a five-story, 14-unit mixed-use building at 2470 Belmont Ave. Aaron Jungreis of Rosewood Realty Group represented the buyer and seller in the deal.

February 10, 2017

Office Texas

Rubicon Representation, NAI Robert Lynn Broker Sale of 92,000 SF Office, Flex Development in Irving

by Amy Works February 10, 2017

IRVING, TEXAS — Rubicon Representation, along with NAI Robert Lynn, has arranged the sale of two office and flex buildings located in the Las Colinas area of Irving. The properties total 92,000 square feet of space. Kyle Jacobs and Graham Perry of Rubicon Representation represented the undisclosed seller, while Zach Stevens of NAI Robert Lynn represented the undisclosed buyer. The acquisition price was not released.

February 10, 2017

Healthcare Office Texas

Bay Area Regional, Medistar to Develop 60,000 SF Medical Office Building in Webster

by Amy Works February 10, 2017

WEBSTER, TEXAS — Bay Area Regional Medical Center and Medistar Corp. are developing a medical office building near the intersection of East Medical Center Boulevard and Highway 3 in Webster. The 60,000-square-foot building will offer medical office space to support the growth of Bay Area Regional. The project is slated to start in the third quarter. The partnership is also developing an ambulatory surgery center at Gemini III, Medistar’s three-building campus in Houston.

February 10, 2017

Office Texas

EDGE Realty Capital Arranges Sale of 14,000 SF Office Building in Dallas

by Amy Works February 10, 2017

DALLAS — EDGE Realty Capital has brokered the sale of a single-tenant office building located at 2320 Stemmons Trail in Dallas. Double Run LP acquired the 14,000-square-foot property from Navin Enterprises Inc. for an undisclosed price. Octapharma Plasma is the sole occupant of the building. Brandon Beeson and Brandon Crow of EDGE represented the seller in the deal.

February 10, 2017

Illinois Midwest Office

Ryan to Redevelop 18-Acre Office Complex in Chicago Suburb

by Kristin Harlow February 10, 2017

WESTMONT, ILL. — Ryan Cos. U.S. Inc. has acquired 700 Oakmont Lane, an 18-acre office complex in Westmont, a suburb of Chicago. Ryan purchased the property from Lexington Group for an undisclosed price. The property currently consists of a three-story, 275,000-square-foot office building. Ryan will redevelop the property as Oakmont Point, a multi-building office complex that can accommodate up to five corporate users. The value of the new development, including land costs, could exceed $35 million. Oakmont Point will feature office spaces ranging from 25,000 to 75,000 square feet, along with 200 indoor parking stalls, a pond and large patios. Ryan A+E Inc. is the architect. Bill Elwood and Tara Torbik of CBRE are marketing the property on behalf of Ryan.

February 10, 2017

Massachusetts Northeast Office

The Davis Cos. Starts Construction on 223,000 SF Research Center in Cambridge

by Amy Works February 9, 2017

CAMBRIDGE, MASS. — The Davis Cos. has started construction on The Alewife Research Center, a transit-oriented lab building located at 45 Cambridgepark Drive in Cambridge. Slated for completion in summer 2018, the 223,000-square-foot building will feature ground-floor retail space and is adjacent to the Alewife Subway Station. The facility will offer highly flexible lab and R&D space, an employee lounge, conference meeting area, a fitness center with showers and lockers, and a bike room with secure storage. Project members include Spagnolo Gisness & Associates as architect, AHA Consulting Engineers and John Moriarty & Associates.

February 9, 2017

Massachusetts Northeast Office

HFF Arranges $18M Sale of 180,000 SF Office Asset in Danvers, Massachusetts

by Amy Works February 9, 2017

DANVERS, MASS. — HFF has arranged the sale of Tower at Northwoods, an office building located at 222 Rosewood Drive in Danvers, a suburb of Boston. LNR Partners sold the 180,000-square-foot property to an undisclosed buyer for $18 million. At the time of sale, the 11-story building was 90.8 percent leased. Tenants include Copyright Clearance, MetLife and Royal Bank of Canada. Chris Phaneuf and Patrick McAneny of HFF, along with Dustin Smith of LNR, represented the seller in the deal. Additionally, Brett Paulsrud of HFF secured a 10-year, fixed-rate acquisition loan through East Boston Savings Bank for the buyer.

February 9, 2017

Massachusetts Northeast Office

Oxford Properties, Alony Hetz Acquire 220,000 SF Office Building in Cambridge

by Amy Works February 9, 2017

CAMBRIDGE, MASS. — Oxford Properties Group and Alony Hetz Properties & Investments have purchased The Davenport Building, an office building located at 25 First St. in Cambridge, for an undisclosed price. At the time of sale, the four-story, 220,000-square-foot building was fully leased. Oxford Properties Group will manage the property. The name of the seller was not released.

February 9, 2017

Maine Northeast Office

Time Management Buys 114,017 SF Office Building in Portland, Maine

by Amy Works February 9, 2017

PORTLAND, MAINE — Time Management Corp. has acquired a four-story office building located at 82 Running Hill Road in Portland. Dead River Co. sold the 114,017-square-foot asset for an undisclosed price. Fairchild Semiconductor and Dead River Co. occupy the building, which was developed in 1987. CBRE | The Boulos Co. represented the seller, while Tom Moulton of NAI The Durham Group represented the buyer in the deal.

February 9, 2017

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