PHOENIX — Empire West Title Agency has renewed its lease for 1,685 square feet of space at Foothills Gateway Corporate Center. The Class A center is located at 4505 E. Chandler Blvd. Empire West was represented by Justin Himelstein and Jason France with Cassidy Turley Arizona’s Office Tenant Representation group. The landlord, Orsett/Gateway, LLC, was represented by Lee & Associates.
BROOMFIELD, COLO. – The 216-unit Willow Run Village in Broomfield has received $22.1 million in financing. The community is located at12621 N Zuni Street. The fixed-interest rate loan includes a 30-year amortization schedule. Financing was arranged by Charles H. Williams and Jon Reible of KeyBank Real Estate Capital through Freddie Mac for Griffis/Blessing, Inc.
SCOTTSDALE, ARIZ. – A 6.5-acre site inside Scottsdale’s McCormick Ranch development has sold to Standard Pacific of Arizona for $6.5 million. The company plans to develop 60 multifamily units on the Class A location. Standard Pacific was represented by Grant D. Helgeson and Don McCaul of the Westland Properties Group. The seller, Mark-Taylor (MT Victor, LLC), was represented by Greg Hopley of Colliers International’s Scottsdale office in this fee-simple transaction.
PHOENIX — Camelback Medical Plaza, a 45,936-square-foot medical office building in Phoenix, has sold to CHP Camelback Medical LLC for $2.8 million. CHP Camelback was formed by Centrum Health Properties. The Class B building was constructed in 1981 at 5040 N. 15th Ave. It was 54 percent leased at the time of sale. The seller was RJ Camelback Medical Plaza Investors LLC. The sale was executed by Eric Wichterman and Mike Coover of Cassidy Turley Arizona and Kathleen Morgan and Julie Johnson of GPE Companies.
SALT LAKE CITY – The Westgate Office Buildings, a 73,695-square-foot campus in Salt Lake City, has sold to an unnamed buyer. The purchase price was not disclosed. The two-building property is located at 300 West in the city’s Downtown district. The seller, Westside Property Associates LP, was represented by Craig Thomas and Eric Gustafson of CBRE’s Salt Lake City office.
ORLANDO AND MAITLAND, FLA. — HFF has arranged a $50 million refinancing loan for three office properties totaling more than 780,000 square feet in Central Florida. The properties include Quorum Center and Oakridge Office Park in Orlando and 850 Trafalgar in Maitland. The borrower was a joint venture between Praedium Group and Tower Realty Partners Inc. Michael Weinberg, Elliott Throne and Chris Drew led the HFF team that arranged the 10-year, fixed-rate loans for Quorum Center and 850 Trafalgar through UBS Real Estate Finance Group. They also arranged the 10-year, fixed-rate loan for Oakridge Office Park through Morgan Stanley.
ORLANDO — BB&T Real Estate Funding, a subsidiary of Grandbridge Real Estate Capital, has arranged a $13.1 million acquisition and renovation loan for Carlton Arms, a 558-unit multifamily property in Orlando. The nonrecourse financing was structured with a 36-month term with tow, 12-month extensions.
MIAMI — Miller Construction Co. has completed the renovation and expansion of Fisher Island Club's 24,000-square-foot Spa and Fitness Center in Miami. The work includes a renovated lobby, six new pools and a state-of-the-art fitness center. The construction team preserved the exterior of the historic building, which was originally the private plane hangar at the 1920s-era Vanderbilt family Fisher Island estate. BC Architects designed the renovation.
BALTIMORE, MD. — Cushman & Wakefield has been selected to oversee the property management and project management at 120 East Baltimore St., a 25-story, 327,140-square-foot office building in Baltimore's City Center. The property is the firm's largest managed asset in downtown Baltimore. Franklin Street Properties Corp., the owner and landlord, purchased the property in 2007. T. Courtenay Jenkins, Tim Jackson and Whitney Nye of Cushman & Wakefield will lease the property on behalf of the landlord.
CHARLOTTE, N.C. — ToolBank has signed a 7,830-square-foot lease at 2531 St. Tryon St. in Charlotte. ToolBank serves more than 150 charitable organizations in the Charlotte area, providing them access to more than 140 different types of tools in volumes large enough to equip thousands of volunteers at a time. The organization will occupy the entire industrial building for its non-profit operations. The property is undergoing renovations and will reopen in April 2013. Frank McCleneghan of Piedmont Properties/CORFAC International represented the tenant in the transaction. Doug Wynne of Perennial Commercial Real Estate represented the landlord.