Stonewater Partners recently closed on the $26 million purchase of the class-B office building at 2470 Highcrest Road. The Mt. Kisco, NY-based real estate investment firm says the building is entirely leased to Unisys for the next eight years.
The Roseville location is strategically important to Unisys and the company has extended its lease for the facility through 2012. Doug Seylar, managing director, and Murray Kornberg, vice president, of L.J. Melody & Co.'s Minneapolis office, secured the 10-year fixed-rate at 5.2% provided by RBS Greenwich Capital.
The building, which was sold by Meritex, was one of three that made up the 1-million sf Highcrest Park. CB Richard Ellis represented Meritex, an 88-year-old firm based in St. Paul that owns and manages more than 10 million sf in the US. CB Richard Ellis is helping lease its other space at Highcrest Park.
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