The property has been delivered vacant, affording the buyer an opportunity to reposition the asset as the submarket
's most coveted office building.
The Highland Colony Parkway/Madison submarket
ended with the second lowest vacancy rate, just slightly above the I-20 and I-220 submarket
Square Mile Capital Management announced that it has originated a $63 million loan secured by Three, Five, and Six Coliseum Centre, a three-building office portfolio located in the airport submarket
of Charlotte, NC.
The Company acquired 660 & 664 North Twin Oaks Valley Road, located in San Marcos, in the North San Diego County submarket
, for $14.0M or $144 per square foot.
In this recent acquisition, the company acquired property in Los Angeles/West Los Angeles/South Bay submarket
for USD 53.9m, or USD 376 per square foot.
"They recognized the opportunity to leverage the building's unique features and take greater advantage of an established submarket
that is getting increased attention from technology companies and venture capitalists."
Blue Cross Blue Shield of Florida renewed a 103,476-square-foot lease in Westside Plaza, an office park in the Doral/Miami Airport West submarket
. The insurer will stay in about 30 percent of the 363,328-square-foot Westside Plaza I building through 2014.
The Company acquired 851 Lawrence Drive, located in Thousand Oaks in the Ventura submarket
, for $6.6M; 1581 North Main Street, located in Orange in the Orange County-North submarket
, for $7.2M; 4039 Calle Platino, located in Oceanside in the San Diego-North County submarket
, for $20.0M; and sold 200-220 South Grand Avenue, located in Santa Ana in the Orange County-Airport submarket
, for approximately $4.5M.
The office properties consist of two Irving properties, Counterpoint at Las Colinas at 8101 and 8113 Ridgepoint Drive in the East DFW Airport/Las Colinas submarket
and Sterling Tech Center at 7801, 7803 and 7805 Mesquite Bend Drive in the DFW Freeport/Coppell submarket
; two Dallas properties in the West Hines North submarket
, Dallas Tech Center at 10005, 10015, 10025 and 10105 West Technology Boulevard and Westwood Business Park III at 1805 Royal Lane; one property in Richardson, International Corporate Park II at 401, 403, 405, 407 and 409 International Boulevard in the Richardson submarket
; and one Farmers Branch property, Valwood XII at 13701 Hutton Drive in the North Stemmons/Valwood submarket
The company acquired two single-tenant industrial buildings containing 198,062 square feet on 12.01 aces in the Los Angeles Mid Counties submarket
for USD 30.7m, or approximately USD 155 per square foot.
The property in Long Beach/Los Angeles South Bay submarket
was acquired for USD 30.6m.
The Downtown submarket
experienced the slowest growth, increasing 0.6 percent year-over-year.