sales_and_leases

MicroVention Leases Space at the Summit Office Campus in Aliso Viejo

by Nellie Day June 9, 2015

ALISO VIEJO, CALIF. – MicroVention has leased a 205,000-square-foot office building within the Summit Office Campus in Aliso Viejo. Construction is scheduled to commence on the four-story building this summer. The global neurovascular company will relocate its world headquarters to the site in the first half of 2017. MicroVention will invest about $100 million into the new facility. This will include an innovation/research and development center for MicroVention, as well as for its subsidiary, Terumo. Parker Properties will develop the project on behalf of MicroVention. It will be designed by Ware Malcomb Architects. The company was represented by Jeff Cannon of Savills Studley. The landlord, Parker Properties, was represented by CBRE’s Carol Trapani. HFF acted as the capital markets advisor representing Parker Properties.

June 9, 2015

Arizona Industrial Western

American Solar Electric Leases Space in Tempe

by Nellie Day June 9, 2015

TEMPE, ARIZ. – American Solar Electric has leased 18,800 square feet of industrial space in Tempe. The space is located at 1230 W. 23rd Street. The residential solar system and roofing services company consolidated offices into the property. The building features ground-floor and mezzanine office space, warehouse space and a fenced yard. American Solar was represented by Rod Beach of CRESA. The landlord, Bishop Family Trust Dated 1995, was represented by DTZ’s Kent Hanson.

June 9, 2015

Midwest Office Ohio

NGKF Brokers $5.2M Sale of Two Office Buildings in Ohio

by Amy Works June 8, 2015

FAIRBORN, OHIO — Newmark Grubb Knight Frank (NGKF) has brokered the sale of two office buildings located at 2900 and 3000 Presidential Drive within Wright Executive Center in Fairborn, near Dayton. Presidential LP acquired the properties, which total 120,000 square feet, for $5.2 million. The buyer plans to renovate the buildings’ common areas and offer tenant improvement allowances. Benton Benalcazar of NGKF and David Elson of Neyer Management represented the sellers, 2900 Presidential Drive LLC and 3000 Presidential Drive LLC, in the transaction.

June 8, 2015

New Jersey Northeast Office

Cushman & Wakefield Brokers Sale of 130,000 SF Office Building in New Jersey

by Amy Works June 8, 2015

PARSIPPANY, N.J. — Cushman & Wakefield has brokered the sale of Waterview Plaza, a Class A office building located at 2001 Route 46 East in Parsippany. Norwalk, Conn.-based Marcus Partners acquired the 130,000-square-foot property for an undisclosed sum from Waterview Plaza Associates LLC, which developed the property in 1981. Key tenants at the property include Hennion & Walsh and HQ Global Workplaces LLC/Regus Corp., both with long-term leases. The buyer has a $2.6 million capital improvement program slated for the property. David Bernhaut, Andy Merin, Andy Schwartz and Nick Karali of Cushman & Wakefield represented the seller in the transaction. Additionally, the buyer retained Cushman & Wakefield as leasing agents for the property.

June 8, 2015

Industrial New Jersey Northeast

CBRE Group Arranges $49.5M Sale of 232,134 SF Warehouse Property in New Jersey

by Amy Works June 5, 2015

CARTERET, N.J. — CBRE Group Inc. has arranged the sale of a warehouse and distribution property located at 200 Milik St. in Carteret. TIAA-CREF purchased the 232,134-square-foot property for $49.5 million from The Hampshire Companies. Constructed in 2012, the facility features 36-foot clear ceiling heights, 52-by-50-foot column spacing, ESFR sprinkler systems and up to 40 loading docks. The seller began construction of the property on a speculative basis and fully leased the building to FedEx Ground prior to completion. Jeffrey Dunne, Kevin Welsh and Brian Schulz of CBRE Group Inc. represented the seller and the buyer in the transaction.

June 5, 2015

Michigan Midwest Retail

Broad Reach Retail Partners Buys 327,946 SF Retail Center in Utica, Mich.

by Amy Works June 5, 2015

UTICA, MICH. — Broad Reach Retail Partners LLC has added Shelby Corners Shopping Center, located at 13277 Hall Road in Utica, to its shopping center portfolio. The 327,946-square-foot center consists of two single-story strip centers situated between a Target and a parcel housing Buy Buy Baby and Christmas Tree Shops. Both Target and the parcel are not part of the transaction. At the time of acquisition, the property was 74.7 percent leased. The name of the seller and the purchase price were not released.

June 5, 2015

Office Texas

HFF Brokers Sale of Office Tower in Houston

by Haisten Willis June 5, 2015

HOUSTON — HFF has arranged the sale of 400 North Belt, a 230,872-square-foot, Class A office project in Houston’s Greenspoint office submarket. HFF marketed the property on behalf of the unnamed seller. Hartman 400 North Belt, a subsidiary of Hartman Short Term Income Properties XX Inc., purchased the asset for an undisclosed amount. 400 North Belt is located at the southeast corner of the Sam Houston Parkway/Beltway 8 at Imperial Valley Drive between the Houston central business district and The Woodlands. The property is close to George Bush Intercontinental Airport, as well as I-45, Hardy Toll Road and I-69. Originally built in 1982, the 12-story property has undergone more than $2 million in capital upgrades during the last 10 years. Building amenities include a deli, bank facility with a drive-thru motor bank and a fitness center planned to open this year. 400 North Belt was 64 percent leased at the time of sale. The HFF investment sales team representing the seller was led by senior managing director Dan Miller and director Trent Agnew. Dave Wheeler, Julian Kwok and Russell Turman of HFF represented the buyer.

June 5, 2015

Maryland Office Southeast

HFF Brokers $63.5M Sale of, Arranges Financing for Downtown Bethesda Office Building

by John Nelson June 5, 2015

BETHESDA, MD. — HFF has brokered the $63.5 million sale of Bethesda Office Center, a 174,449-square-foot, Class A office building located at 4520 East-West Highway in downtown Bethesda. The office property is located at the intersection of East-West Highway and Waverly Street, one block from the Bethesda Metrorail Station. Jim Meisel, Dek Potts, Andrew Weir, Stephen Conley, Matthew Nicholson and Robert Jenkins of HFF represented the seller, AEW Capital Management LLC, in the transaction. HFF also arranged acquisition financing on behalf of the undisclosed buyer. Cary Abod and Robert Carey of HFF arranged the fixed-rate loan through JP Morgan Chase Bank, NA.

June 5, 2015

California Retail Western

Rouse Properties Buys Fig Garden Village in Fresno for $106M

by Nellie Day June 5, 2015

FRESNO, CALIF. — Rouse Properties has acquired Fig Garden Village, a 301,459-square-foot lifestyle center in Fresno, for $106.1 million. The center is located at 5082 N. Palm Ave. Fig Garden Village is anchored by Whole Foods. Other notable tenants include Lululemon, Williams-Sonoma, J. Crew, Pottery Barn, Chicos, White House Black Market, Chipolte and Starbucks. The center was built in 1956 and renovated in 2007. It was 93.9 percent leased at the time of sale. The acquisition was financed with a new $74.2 million, non-recourse CMBS loan that features an interest rate of 4.14 percent.

June 5, 2015

Multifamily Seniors Housing Washington Western

Evans Senior Investments Arranges Sale of Skilled Nursing Facility in Washington for $6.6M

by Nellie Day June 5, 2015

SHORELINE, Wash — Investment banking firm Evans Senior Investments (ESI) has arranged the sale of Shoreline Health and Rehab, a skilled nursing facility in the Seattle suburbs, for $6.6 million. Opened in 1968, the 106-bed facility underwent a $3 million renovation in 2012 which added 40 private rooms, accommodating more Medicare short-term rehabilitation patients. ESI represented the seller; the buyer was a publicly traded REIT.

June 5, 2015

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