The Galleria and Tower at Erieview, 1301 East Ninth Street,
Downtown Cleveland, OH

CHICAGO, IL –– Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of The Galleria and Tower at Erieview, a 760,339-square-foot, premier high-rise office building and 93,663-square-foot retail center in downtown Cleveland’s business district.

Jamie Fink

The HFF team represented the seller and procured the buyer, KRA Management.

The Galleria and Tower at Erieview is located at 1301 East Ninth Street in the heart of Cleveland’s central business district. 

This “Main and Main” location places the property within walking distance of all downtown amenities and attractions, including Playhouse Square, the Warehouse District, The Flats, Public Square and Gateway. 

 Additionally, the asset’s location along the primary avenue in Cleveland’s Financial District provides it with superior connectivity to Interstates 90, 71 and 77, and easy access to Cleveland Hopkins International Airport. 

Bryan Rosenberg

 The 40-story mixed-use property is the fourth tallest building in Cleveland and features an array of amenities, including sweeping views of Lake Erie, indoor heated parking, and a 40,000-square-foot YMCA fitness facility that has a three-lane lap pool, yoga and spinning studios and a spa/wellness clinic. 

The retail portion of the complex is a glass-enclosed, two-story urban retail center that offers a mix of retail stores as well as a food hall. 

The HFF investment advisory team representing the seller included directors Bryan Rosenberg and Patrick Shields, and senior managing directors Jaime Fink, Jeffrey Bramson, John Merrill and Doug Rodio.

Patrick Shields

“The Galleria and Tower at Erieview is an iconic project in Downtown Cleveland with tremendous potential,” Rosenberg said. “We are excited to watch the transformation.”

KRA Management is a family owned and operated real estate development and property management business that was founded by James Kassouf in 1972. 

The Kassouf family owns over 20 acres of real estate in Downtown Cleveland, a chain of gas stations, approximately 1.33 million square feet of retail, and multiple office buildings in Downtown Cleveland. 

Metro Parking System’s, an affiliate of KRA, has been an industry leader since 1972.  Through its history, Metro Parking Systems has operated more than 51 parking lots and garages with over 12,000 parking spaces across 4 states.

For more information, please contact:

KRISTEN MURPHY

HFF Director, Public Relations

(617) 338-0990

krmurphy@hfflp.com

Mesa, AZ welcomes Cognizant to Waypoint at Mesa Riverview

Waypoint at Mesa Riverview Development, Mesa, AZ

 Mesa, AZ – Cognizant, a Fortune 500 digital technology firm and one of the world’s leading professional services companies, opened its newest U.S. regional center at 1130 North Alma School Road.

Mesa, AZ  Mayor John Giles

 “Cognizant is an exciting addition to Mesa,” Mayor John Giles said. “Their decision to expand to Mesa is a great endorsement of our business-friendly environment and the work they do to help companies transform their business with specialized technology is at the epicenter of the IT industry.”

 They are joining many other technology-driven companies at Waypoint within Mesa Riverview.

 Occupying two floors and 50,000 square feet, Cognizant will invest $4.5 million this year in the Mesa facility and bring more than 500 new jobs to the site to serve companies in 15 industry sectors including banking, consumer goods, education healthcare manufacturing and transportation.

Mark Freeman

 The new jobs will be full-time, technology and business professionals who provide business process services as well as software application development and maintenance.

 "The amazing number of jobs Cognizant is bringing to this facility will help solidify Mesa as a leader in tech industry careers," said District 1 Councilmember Mark Freeman. "This location at Waypoint in District 1 is ideal for the workforce, because of its proximity to two major freeways and the retail and restaurant options right next door." 

Craig Krumwiede

The 35-acre Waypoint totals four buildings designed to accommodate single- and multiple-occupancy tenants. It sits adjacent to Mesa’s Riverview district, which offers 1.3 million square feet of retail, restaurants, entertainment and the upscale Sheraton and Hyatt Place hotels.

Also, within Riverview are Riverview Lake and Sloan Park, home of the Chicago Cubs spring training facility.

 “Waypoint was located and built with an eye toward serving the modern corporate tenant. We are thrilled to welcome Cognizant, and to see our efforts put to use by an exceptional Fortune 195 company,” said Harvard Investments President and CEO Craig Krumwiede, who serves as the project developer along with Lincoln Property Company.

David Krumwiede

 “With the addition of Cognizant, our 430,000-square-foot Waypoint campus is now 95 percent leased,” said Lincoln Property Company Executive Vice President David Krumwiede. “It creates a very dynamic place for Cognizant, and all of our tenants, to grow and thrive.”

 The City of Mesa partnered with Cognizant and the Arizona Commerce Authority on this project. 

For more information about Cognizant, please visit www.cognizant.com. 

For more information, please contact:

Stacey Hershauer

focusAZ

Marketing & Public Relations

(480) 600-0195

www.focusaz.com

HFF announces acquisition financing for Class A office building in West Houston, TX

Rendering of Westgate1 Office Complex,
West Houston, TX

HOUSTON, TX –– Holliday Fenoglio Fowler, L.P. (HFF) announces acquisition financing for Westgate I, a state-of-the-art, Class A office building totaling 248,707 square feet in West Houston.

The HFF team worked exclusively on behalf of Canada-based Nicola Crosby Real Estate to arrange a seven-year, 4.63 percent fixed-rate acquisition loan through Principal Real Estate Investors.

Westgate I is situated on 5.99 acres at 17220 Katy Freeway at the Barker Cypress exit in the heart of the Park 10 Business Center, a well-established, 550-acre business park, which accounts for more than one-third of the square footage in Houston’s Energy Corridor. 

The building is part of a three-building master-planned development totaling more than 660,000 square feet.  The other two adjacent buildings, which are not part of this transaction, are 100 percent leased to Wood Group Mustang, Inc.

Cortney Cole

 Delivered in 2014, Westgate I has been designed to LEED Gold standards and features high-quality finishes, an upscale café, full fitness center and a five-level parking garage. 

The 95.7-percent-leased property is anchored by Subsea 7 and Atkins PLC, two global corporations with investment-grade credit that together occupy 68 percent of the building’s net rentable area. 

Additional tenants comprise a cross-section of industries, including energy, engineering, human resources, automotive and waste management.

HFF’s debt placement team representing the borrower consisted of managing director Cortney Cole.

For more information, please contact:

CORTNEY COLE

HFF Managing Director

(713) 852-3500

ccole@hfflp.com

OR

OLIVIA HENNESSEY

HFF Public Relations Specialist

(713) 852-3500

ohennessey@hfflp.com

www.nicolacrosby.com.