LAS VEGAS — CBRE has arranged the sale of a 24,362-square-foot office property located at 9501 Hillwood Drive in Las Vegas. A local owner-user acquired the asset from Hillwood Properties LLC for $6.4 million. The property features an outdoor amphitheater, rotunda entrance and an auditorium. Marc Magliarditi of CBRE represented the seller in the deal.
BASKING RIDGE, N.J. — Aucta Pharmaceuticals, which specializes in the development and commercialization of branded specialty products, has purchased a 52,000-square-foot office building in Basking Ridge, about 35 miles west of New York City, for its new headquarters. Local brokerage firm The Kislak Co. represented Aucta Pharmaceuticals in the $4.6 million acquisition. The seller was not disclosed.
NEW YORK CITY — Local brokerage firm Brax Realty has negotiated the $13.2 million sale of an office building in Manhattan’s Flatiron District. According to LoopNet Inc., the six-story building at 174-176 5th Ave. was constructed in 1900 and totals 21,588 square feet. The building also houses commercial space that is leased to Eisenberg’s Sandwich/S&P and State & Liberty. Michael Ferrara and Cole Kinney Leonhardt of Brax Realty brokered the deal. The buyer and seller were not disclosed.
TACOMA, WASH. — The Vara Group of Marcus & Millichap has arranged the sale of NVA Referral Center, a net-lease property in Tacoma. A limited liability company sold the asset to an undisclosed buyer for $12.6 million. NVA Summit Veterinary Management LLC occupies the 27,199-square-foot property on a 10-year triple-net lease basis. The property is located at 2505 S. 80th St. Matthew Herman and RJ Vara of The Vara Group of Marcus & Millichap represented the seller in the deal.
WILMINGTON, DEL. — Regional investment firm Buccini Pollin Group has purchased three office buildings totaling approximately 252,000 square feet within Bellevue Park Corporate Center, a 52-acre campus in Wilmington. The purchase includes two four-story office buildings and a historic mansion that serves as a private amenity space for tenants. Jim Galbally and Brett Segal of JLL represented the undisclosed seller in the transaction. Buccini Pollin also owns three other buildings within Bellevue Park Corporate Center and has invested $1.1 million in capital improvements to the campus this year.
HOUSTON — JLL has brokered the sale of a 225,000-square-foot, vacant office building in northwest Houston. The nine-story building at 4646 W. Sam Houston N was built in 2001 within the 150-acre Westway Park master-planned development and was most recently leased to oilfield services company Schlumberger, now known as SLB. Marty Hogan and Kevin McConn of JLL represented the undisclosed seller in the transaction. The buyer was US Property Management.
LEAWOOD, KAN. — KBS has sold Park Place Village, a 10-building, 484,980-square-foot office and retail property in the Kansas City suburb of Leawood, for $100 million. DFW Land, a development company that specializes in the acquisition, development and sale of land in the Dallas-Fort Worth Metroplex area, was the buyer. Park Place Village was owned by KBS Real Estate Investment Trust III and purchased in 2015. Developed in phases between 2007 and 2013, the property features amenities such as boutique shops, upscale restaurants, a fitness center, bike storage, electric vehicle charging stations, onsite parking and a rooftop terrace. The surrounding area is home to shopping and entertainment venues, parking garages, the Aloft Hotel, 201 apartment units, 30 townhouses and 27 lofts. The asset was fully leased at the time of sale. Derek Fohl and Gary Carr of Newmark represented KBS in the sale with support from the brokerage firm’s Jim Postweiler, Peter Harwood, Jack Trager, Jake Paschen, Robert Hill, Chris Murphy and Austin Sheehan. Attorneys Bruce Fischer and Howard Chu along with paralegal Amanda Kennedy of Greenberg Traurig LLP represented KBS as legal counsel in the disposition. Ari Schwartzbard and Bill Weber of Newmark arranged a $62 million acquisition loan on …
EDINA, MINN. — Opus has broken ground on Arcadia, a 115,000-square-foot speculative office building at 5100 Eden Ave. in the Minneapolis suburb of Edina. The building will also serve as the developer’s headquarters. Arcadia is located in Edina’s Grandview District on the site of the former Eden 100 building. The development will include a six-story, multi-tenant office building with amenities such as a lobby with fireplace, gathering spaces, conference rooms, an employee training room, private tenant clubroom, workout facility and outdoor terrace. Opus is the developer and design-builder and will occupy Arcadia’s top floor, taking approximately 28,000 square feet. Joe Conzemius, Larissa Bodine, Anne Rinde and Elle Westphal of CBRE are marketing the remaining space for lease. ESG Architecture & Design is the architect of record.
KANSAS CITY, MO. — Gilmore & Bell PC, a public finance law firm, has renewed its office headquarters lease for approximately 18,000 square feet within the 2405 Grand Boulevard Building at Crown Center in Kansas City. Michael VanBuskirk, Richard Chamberlain and Raegen Kersey of Newmark Zimmer provided real estate consulting services and represented Gilmore Bell in the lease negotiations. GastingerWalker& is providing architectural and interior design services for the remodel of the entire 11th floor. The 14-story office tower totals 245,000 square feet.
FLORHAM PARK, N.J. — CBRE has brokered the $9.2 million sale of a 50,600-square-foot office and industrial building in the Northern New Jersey community of Florham Park. The facility at 5 Vreeland Road was originally built in 1976 and formerly housed the operations of Tropar Trophy until the plaque-making company was sold last year. Tom Mallaney, Elli Klapper and Denise Kokulak of CBRE represented the seller, the Ilaria Family Trust, in the transaction. The team also procured the buyer, Faropoint, which has retained CBRE as the leasing agent.
