WELLESLEY, MASS. — Newmark has negotiated the sale of Park 9, a 375,058-square-foot office campus in Wellesley, a western suburb of Boston. The four-building development is leased to tenants such as Sun Life, Morgan Stanley and Boston Children’s Hospital and includes a 120,000-square-foot structure with immediate life sciences conversion potential. Robert Griffin, Edward Maher, Matthew Pullen and Samantha Hallowell of Newmark represented the seller, BentallGreenOak on behalf of Sun Life, in the transaction and procured the buyer, Beacon Capital Partners.
BLUE BELL, PA. — Pennsylvania-based investment firm Endurance Real Estate Group has sold a three-building, 130,942-square-foot office complex in Blue Bell, a northern suburb of Philadelphia. The property, which was built in 1988 and renovated in 2015, sold for $12.7 million. Mike Margolis, David Dolan, Ryan Guittare, Angelo Brutico and Jim Dugan of Newmark represented Endurance Real Estate in the transaction and procured the undisclosed buyer.
SUNNYVALE, CALIF. — Tishman Speyer has sold a 719,037-square-foot office campus in the Moffett Park submarket of Sunnyvale, just west of San Jose, to CommonWealth Partners. While the price was not disclosed, Tishman Speyer acquired the asset in April 2021 for $356 million, and soon leased the entire campus to Meta, the parent company of social media networks Facebook and Instagram. Google occupies a multi-building campus immediately adjacent to the site. The property features four modern office buildings, two parking structures and outdoor recreational space. Campus amenities include a gym with a basketball court, lockers and showers; outdoor volleyball court; executive briefing center; full-service cafeteria; multiple kitchens; break centers; phone rooms; and other common areas. This acquisition more than doubles CommonWealth Partners’ holdings in the Moffett Park submarket to over 1.2 million square feet of LEED Gold- or Platinum-certified trophy office space. “The sale and the lease demonstrate that Silicon Valley remains a global center of innovation,” says Rob Speyer, CEO of Tishman Speyer. “Moreover, this deal demonstrates that the market for highly collaborative, well-designed office space with accessible green space and top-level amenities is still strong.” Kevin Shannon, Steven Golubchik, Phil Mahoney, Jonathan Schaefler and Darren Hollak of Newmark …
FEDERAL WAY, WA. — An entity of Atlanta-based Truist Securities has purchased an office building located at 3201 S. 323rd St. in Federal Way. DaVita Inc. sold the asset for $93.5 million in a sale-leaseback transaction. At the time of sale, the seller signed a long-term lease for the entire facility. Constructed in 2021 on 11.2 acres, the 160,493-square-foot property serves as DaVita’s primary revenue operations office, staffing roughly 800 employees. The mission-critical facility is located approximately 20 minutes south of Seattle-Tacoma International Airport. The property served to consolidate operations from around the region under one roof and was designed to be expanded by 40,000 square feet at the option of the occupant in the future. Scott Briggs of Stan Johnson Co. represented the seller in the deal.
LAS VEGAS — Avison Young has arranged the sale-leaseback of two adjoining medical office buildings located at 7189 and 7195 Advanced Way in Las Vegas. Nashville, Tenn.-based Montecito Cos. acquired the assets from a group of six physician owners for $8.4 million, or $400 per square foot. Advanced Orthopedics and Sports Medicine fully occupy the two 21,000-square-foot properties. The seller signed a 15-year lease for the space. Built in 2009 and renovated in 2019 and 2020, the Class A properties feature orthopedic examination rooms, radiology and physical therapy spaces. The buildings are part of a three-building campus that includes an ambulatory surgery center building. Barton Hyde of Avison Young represented the seller in the deal.
BRIGHTON, COLO. — Tri-County Real Estate Acquisitions has completed the disposition of an industrial portfolio on three lots totaling 22 acres at 12628, 12706 and 12750 WCR 4 in Brighton. 12628 Brighton Partners LLC purchased the property for $9.2 million. Totaling 30,525 square feet, the portfolio was 100 percent leased to two tenants at the time of sale. Travis Ackerman of Cushman & Wakefield’s Fort Collins, Colo., office represented the seller in the deal.
HUTTO, TEXAS — Titan Development has acquired 188 acres in the northern Austin suburb of Hutto for the development of an industrial project that will be dubbed Hutto Mega TechCenter. Titan Development acquired the land, which is located near State Highway 130 and is zoned for light industrial usage, from the City of Hutto. Buildings will range in size from 200,000 to 1 million square feet. A construction timeline is still being finalized.
SAN ANTONIO — Azora Exan, the Miami-based investment arm of European private equity firm Azora Capital, and One Real Estate Investments (also based in Miami) have acquired The Fredd, a 278-unit multifamily property in San Antonio. The property offers one-, two- and three-bedroom units and a resort-style pool with a sun deck, as well as a sports court and a fitness center. The new ownership plans to implement a value-add program. The seller and sales price were not disclosed.
EL PASO, TEXAS — Greysteel has arranged the sale of Casa Barranca, a 196-unit multifamily property in El Paso. The community offers two- and three-bedroom units and was close to fully occupied at the time of sale. According to Apartments.com, amenities include a pool, playground, clubhouse and onsite laundry facilities. Jack Stone of Greysteel brokered the deal. The buyer and seller both requested anonymity.
FAIRVIEW HEIGHTS, ILL. — JLL Capital Markets has brokered the $40.7 million sale of Lincoln Place, a 272,060-square-foot shopping center in the St. Louis suburb of Fairview Heights. The property was 95 percent leased at the time of sale. Tenants include Aldi, Total Wine & More, Kohl’s, Shoe Carnival, Ross Dress for Less, Marshalls, Five Below, GameStop, Pizza Hut and St. Louis Bread Co. Amy Sands, Clinton Mitchell and Michael Nieder of JLL represented the seller, Acadia Realty Trust. Jenel Real Estate was the buyer.