DENVER — Plaza 7000 Office Building, a 72,314-square-foot property in Denver, has received a $2.6-million refinancing. The building is located at 7000 E. Belleview Ave. It is situated two blocks west of the interchange between I-25 and E. Belleview Avenue. The loan features a 10-year term and a 25-year amortization schedule. The loan was arranged for an affiliate of DPC Development Company by Steve Bye and Mark Lindgren of NorthMarq Capital’s Denver regional office.
Property Type
PORTLAND, ORE. — Federal Public Defenders has leased 25,483 square feet at One Main Place in Portland. The building is located at the intersection of SW Main Street and SW 1st Avenue in the city’s Central Business District. It will soon undergo improvement efforts. The landlord is KBS Real Estate Investment Trust II. Both parties were represented by CBRE’s Kevin Kaufman and Charles Safley.
GLENDALE, ARIZ. — Sunbelt Rentals has leased 23,288 square feet of industrial space in Glendale. The space is located at 5714 N. 51st Ave. The equipment rental company is new to this market. It was represented by Rob Martensen of Colliers International. The landlord, ABC Contractor Supply Co., was represented by Keri Scott, Jackie Orcutt and John Grady of Cushman & Wakefield.
THE WOODLANDS, TEXAS — ZC+O has completed construction of Research Forest Lakeside Building 4 in The Woodlands. The 12-story, 297,827-square-foot office building is the second of eight new buildings to be built in the 77-acre, mixed-use development located on Lake Woodlands. The building is pre-certified LEED Gold. ZC+O is an association between Ziegler Cooper and Odell.
DALLAS — Dougherty Mortgage LLC has arranged a $4.1 million Fannie Mae loan for the refinancing of Prince Hall Apartments, a 192-unit multifamily housing property in Dallas. Dougherty’s Dallas, Texas office arranged the 10-year term, 30-year amortization loan for Prince Hall LTD. Dougherty Mortgage is based in Minneapolis with offices in California, Colorado, Maryland and Texas.
DALLAS — Crow Holdings Capital Partners LLC has broken ground on Mountain Creek, a new industrial park situated along Interstate 20 & Grady Niblo Road in Dallas. The 87-acre development will include two buildings totaling 1.3 million square feet of distribution and warehouse space. Phase I of the project will include one building totaling 630,000 square feet. McFadden & Miller is the contractor and Azimuth Architecture is the architect.
LUBBOCK, TEXAS — CBRE has brokered the sale of Northpark Village in Lubbock. Cincinnati, Ohio-based Phillips Edison & Co. bought the grocery-anchored center for an undisclosed price. Lubbock-based United Supermarkets anchors the 70,479-square-foot Northpark Village at the intersection of 4th Street and Slide Road. Texas Tech University is two miles from the center. The complex is 96.8 percent occupied. Other tenants include Starbucks and GNC. Chris Cozby, Chris Gerard and Kevin Holland with CBRE represented the unnamed seller in an off-market sale.
ATLANTA — The Atlanta Braves organization has announced a trio of developers that it will team up for the 74-acre, $400 million mixed-use project that will be integrated with the team’s new stadium in Cobb County. The companies, including Fuqua Development, Pope & Land Enterprises and Pollack Shores Real Estate Group, will develop 630,000 square feet of Class A office space, 500,000 square feet of retail, 450 hotel rooms and 500 residences. Fuqua Development will handle the retail portion, Pope & Land will handle the office portion and Pollack Shores will handle the residential portion. The Atlanta Braves will partner with the Cobb-Marietta Coliseum and Exhibit Hall Authority for the project and retain a majority ownership stake, as well as continue to guide the development process. JLL will remain involved as a real estate and development consultant, and The Jerde Partnership will continue to guide the land planning aspect. The Atlanta Braves and the development team expect to open Phase I, or most of it, by spring 2017, coinciding with the stadium’s debut for Opening Day 2017.
CHEVY CHASE, MD. — The JBG Cos. and JBGR Retail have sold Phase I of Tysons West, a new mixed-use, transit-oriented development in Chevy Chase. LaSalle Investment Management purchased the project’s initial phase, which features more than 165,600 square feet of commercial space, including an urban-format Walmart, 24 Hour Fitness, several restaurants and 30,000 square feet of medical office space. Delivered in August 2013, the asset is located at 1500 Cornerside Blvd. immediately adjacent to the Spring Hill Metro station on the new Silver Line Metrorail. Phase II of Tysons West will include 400,000 square feet of residential space and another 50,000 square feet of retail, and Phase III will consist of 300,000 square feet of residential space, 380,000 square feet of office space and 50,000 square feet of retail. Eastdil Secured brokered the sale of Tysons West. JBGR Retail will continue to manage the property.
TAMPA, FLA. — Fairlead Commercial Real Estate has purchased Fifth Third Center, a 19-story, 281,072-square-foot office tower located at 201 E. Kennedy Blvd. in Tampa’s central business district. Fairlead purchased the asset with its equity partner Bridge Investment Group Partners. The tower’s tenant roster includes Fifth Third Bank, the United States Government, Deloitte, Saxon Gilmore, Skoda Minotti, Marshall Dennehey, Conroy Simberg and Walter Moore. Dale Peterson, Anne-Marie Ayers and Courtney Decker of CBRE represented the seller, Terrace Tower Tampa LLC. Fairlead has tapped Ayers of CBRE as the third-party leasing agent for Fifth Third Center.