FRISCO, TEXAS — Alliance Architects has completed the design of a new medical office building in Frisco. Located at 5375 Coit Road north of the Sam Rayburn Tollway, the multi-tenant medical office building features 21,000 square feet of medical office space. Tenants include Foot & Ankle Center of Frisco, Lone Star Neurology, Baylor Institute for Rehabilitation Center Outpatient Services and Texas Vein & Aesthetics. Core Construction was the general contractor.
BOSTON — Colliers International has brokered the sale of a medical office building located at 147 Milk St. in Boston. Multi-Employer Trust, advised by Bentall Kennedy, purchased the property form an affiliate of Lexington Realty Trust for $33.2 million. The 52,337-square-foot building is fully leased to Atrius Health, parent of Harvard Vanguard Medical Associates. Doug Jacoby, Scott Dragos, Tony Hayes, Tim Mulhall and Dan Hines of Colliers represented the seller and secured the buyer.
LOS ANGELES — MWest Holdings has purchased the San Fernando Building, an 89,500-square-foot building in the Old Bank District of downtown Los Angeles, for $37 million. The historic building was originally constructed in 1907 as an office building. It was converted into 70 large, loft-style multifamily units with about 11,500 square feet of ground-floor retail and restaurant space in 2000. The San Fernando Building is located at 400 S. Main St. It is currently 92 percent leased. The building has also been featured in several films, including Bull Durham and 500 Days of Summer. Fred Cordova, Lee Shapiro, Ryan Eddy, Justin Weiss, Michael Puleo and Jake Sachse of Kennedy Wilson represented the seller, Gilmore Associates, in this transaction. Mesa West Capital provided the $21.6 million acquisition loan for the property. Sklar Kirsh was the legal representation for MWest Holdings, while Shumaker Mallory represented Gilmore Associates in this transaction.
ALLENTOWN, PA. — City Center Investment Corp. has purchased a 250,000-square-foot office building, located at Sixth and Linden streets in downtown Allentown, for $8.5 million. Approximately half of the building is long-term leased to The Morning Call, which uses the property as office space and to print the daily paper. The buyer plans to lease out the building’s vacant space. The acquisition also includes a nearby parking deck. City Center Investment Corp. purchased the property from Tribune Media using financing through Peoples Security Bank & Trust Co.
SAN ANTONIO — JLL has entered into an agreement to acquire Travis Commercial, a San Antonio-based real estate leader in property leasing and management, multi-market corporate services, tenant representation, investment sales and construction management. The acquisition is scheduled to close in the next few weeks, subject to customary closing conditions. Commercial principals Mark Krenger, Chuck King and Jeff Miller will join as managing directors and share leadership positions of the combined business. Senior team members Roger Hill and Lisa Mittel will join the firm along with more than 30 industry experts and staff. Krenger and King will oversee agency leasing, and Miller will lead the tenant representation and markets corporate solutions groups. The leadership trio will work under the direction of Jeff Staubach and David Carroll, president and market director of the south-central region. Travis Commercial was co-founded by Krenger and King in 1998, with Miller joining in 1999, and has since grown into a full-service commercial real estate firm.
RICHARDSON, TEXAS — Steve Doyle has been promoted to vice president of business operations at Hill & Wilkinson General Contractors. Doyle will serve as the firm’s general counsel and oversee all legal activities of Hill & Wilkinson, including risk management and contracts. Steve’s experience includes the application of construction law and developing an understanding of the risks in the construction industry. Prior to joining Hill & Wilkinson, Steve served as corporate counsel for Austin Industries. He earned his bachelor’s degree in architectural engineering from the University of Texas at Austin and his Juris Doctorate from the University of Texas School of Law. Steve teaches a construction law course at the Southern Methodist University Dedman School of Law. He is a member of the construction law section of the State Bar of Texas and the American Bar Association Forum on the construction industry. He is also a past chair of the construction law section of the Dallas Bar Association.
SAN ANTONIO — Marcus & Millichap has arranged the sale of North Central Federal Clinic, a 34,500-square foot office property located in San Antonio. Joshua Murphy and Kenneth Hartmann of Marcus & Millichap’s San Antonio office marketed the property on behalf of the seller, a private investor, and also secured and represented the buyer, a private equity fund. North Central Federal Clinic is located at 17440 Henderson Pass. The United States Department of Veteran Affairs and the Department of Defense built the property to serve the medical needs of veterans.
MEMPHIS, TENN. — Newmark Grubb Knight Frank (NGKF) has arranged the 315,450-square-foot lease relocation and adaptive reuse project for ServiceMaster, a home and commercial services provider whose products and services include home warranties, home inspections, furniture repair, residential cleaning, disaster restoration and termite and pest control. The publicly traded company plans to transform the former Peabody Place mall in downtown Memphis into Class A office space for its global headquarters. ServiceMaster will consolidate its office operations currently headquartered in four buildings within the suburban Poplar Avenue Corridor in Memphis. Neal Golden and Aaron Sommer of NGKF represented ServiceMaster in the two-year site selection process and lease transaction. ServiceMaster was considering relocating its corporate headquarters to other markets such as Atlanta, Dallas, Austin, Orlando and Tampa before selecting Memphis. The company plans to move approximately 1,200 employees to the renovated building by the end of 2017.
CHICAGO — Power Home Remodeling Group has signed a long-term lease for 31,000 square feet at the Bradley Business Center in Chicago. The company is relocating from 9450 W. Bryn Mawr Ave. in Rosemont where it occupied 7,000 square feet. Power Home Remodeling will use 21,000 square feet of space for offices and the remainder of the space will be used as warehouse space. The facility, located at 2500 W. Bradley Place, will serve as the company’s Midwest headquarters when the lease goes into effect this November. The mixed-use building features amenities such as a fitness center, rooftop deck, conference center, event space, bike storage and ample parking. Hansen Realty Services and Centrum Partners own the 500,000-square-foot Bradley Business Center, which is 86 percent occupied. Brett Berlin represented the ownership in-house. Marilyn Lissner and Joseph Gatto of Cushman & Wakefield represented the tenant in the transaction.
SUGAR LAND, TEXAS — Heavy Construction Systems Specialists (HCSS) has moved into a new office building located at 13151 W. Airport Blvd. in Sugar Land. Designed by Studio RED and built by Rosenberger Construction, the commercial office building features a climbing rope net in the lobby and an adult slide. HCSS’s goal was to create a fun, energetic and creative atmosphere to serve as a catalyst for retaining and recruiting talent. The 15,400-square-foot building, intended for HCSS’s software development group, is organized into pods that accommodate six to eight employees. A lounge space joins the pods together and is open to both floors. Conference rooms, manager offices and support spaces are also included.
