Office

Franklin Street Brokers $4.7M Sale of Vacant Office Building in Downtown Atlanta

by John Nelson May 20, 2015

ATLANTA — Franklin Street Real Estate Services has brokered the $4.7 million sale of the vacant 13-story Forty One Marietta office building in downtown Atlanta. The property offers a repositioning opportunity within walking distance to Georgia State University, the Atlanta Streetcar and the Five Points MARTA station. 41 Marietta Investments LLC purchased the property from a private owner for a little over $36 per square foot. Jake Reid and Ricky Jones of Franklin Street’s Atlanta office represented the seller in the transaction.

May 20, 2015

Illinois Midwest Office

Bradford Allen Adds Two New Properties to Suburban Leasing Portfolio

by Amy Works May 20, 2015

OAK BROOK AND OAKBROOK TERRACE, ILL. — Chicago-based Bradford Allen Realty Services has been hired as the exclusive leasing agent for two additional office properties in suburban Chicago. The firm was selected by the ownership to lease the 55,729-square-foot office building at 800 Enterprise Drive in Oak Brook and the 56,414-square-foot Oakbrook Terrace Atrium located at 17W220 22nd St. in Oakbrook Terrace. The Oak Brook property features suites ranging from 1,494 square feet to 5,753 square feet and Oakbrook Terrace Atrium offers suites ranging from 1,398 square feet to 10,829 square feet. Ryan Moen of Bradford Allen will handle leasing efforts for both properties.

May 20, 2015

California Office Western

M&M Promotes Hessam Nadji to Senior Executive Vice President

by Nellie Day May 20, 2015

LOS ANGELES — Hessam Nadji has been promoted to senior executive vice president of Marcus & Millichap. Nadji joined the firm in 1996. He served as the chief strategy officer and senior vice president. Nadji is responsible for Marcus & Millichap’s specialty brokerage divisions. He also oversees the firm’s research, advisory services and marketing departments. In addition to these duties, Nadji will now oversee the firm’s mortgage brokerage operations and certain corporate functions. He is based in Walnut Creek, Calif. Prior to joining Marcus & Millichap, Nadji was senior vice president at Grubb & Ellis. He received a Bachelor of Science degree in information management and computer science from City University in Seattle.

May 20, 2015

Office Texas

Archway Breaks Ground on Wildwood Corporate Centre II in Houston

by Haisten Willis May 18, 2015

HOUSTON — Developer Archway Properties broke ground on Wildwood Corporate Centre II, the second phase of the corporate campus for GeoSouthern Energy, on May 7. Kirksey designed Wildwood I and II with EE Reed as general contractor. Sitting adjacent to Wildwood Corporate Centre I, Corporate Centre II consists of an eight-story, 218,000-square-foot office tower; a five-level, 780-car parking garage; and a two-story, 10,000-square-foot fitness facility. Wildwood Corporate Centre II is seeking LEED Silver certification, and the project is expected to be complete in August 2016.

May 18, 2015

Office Texas

Hartman Acquires Office Property in Dallas

by Haisten Willis May 18, 2015

DALLAS — Hartman Hillcrest LLC, an affiliate of Hartman Short Term Income Properties XX (Hartman XX), has purchased the Commerce Plaza Hillcrest office property in Dallas. Commerce Plaza Hillcrest is a 203,688-square-foot, nine-building office complex located on Lyndon B. Johnson Freeway (IH-635) and Hillcrest Road. The property sits on 10 acres and is 74 percent leased to 95 tenants. The property primarily caters to smaller community tenants. Tenants include Signature Medical Imaging (14,410 square feet) and Playworks (5,408 square feet).

May 18, 2015

California Office Western

Tri Valley Learning Corporation Buys Office Building in Livermore

by Nellie Day May 18, 2015

LIVERMORE, CALIF. – Tri Valley Learning Corporation (TVLC) has acquired an 80,000-square-foot office building in Livermore for an undisclosed sum. The building is located at 3090 Independence Drive. TVLC operates charter schools in Livermore, Stockton and San Diego. This acquisition has been in the works for several years. The Class A building will house high school students from the K-8 campus, as well as international students. The land between the two campuses will be used for a sports field. TVLC was represented by John Hone of Colliers International.

May 18, 2015

Arizona Office Western

Palm Plaza Office Building in Phoenix Sells for $2M

by Nellie Day May 18, 2015

PHOENIX – Palm Plaza, a 25,000-square-foot office building in Phoenix, has sold to MDR Enterprises for $2 million. The building is located at 141 E. Palm Lane in the Midtown submarket. The property is 85 percent occupied. MDR Enterprises was represented by John Oliver of Century 21 AZ Foothills. The seller, Lee Center, was represented by Justin Horwitz and Jonathan Levy of Sperry Van Ness, and by Paul Christ of Encom Properties. Both parties were completing 1031 exchange transactions.

May 18, 2015

Illinois Midwest Office

Chicago’s 311 South Wacker Receives LEED Silver Certification

by Amy Works May 18, 2015

CHICAGO — Zeller Realty Group’s 1.3 million-square-foot 311 South Wacker office property has received LEED Silver certification from the U.S. Green Building Council. Zeller Realty Group acquired the property in March 2014 and implemented a capital improvements program that included upgraded infrastructure, improved retail offerings and the construction of a 21,500-square-foot tenant lounge and conference center. To achieve LEED Silver certification, Zeller implemented a sustainable site development, water savings, energy efficiency, materials selection and indoor environmental air quality program to upgrade the property.

May 18, 2015

Michigan Midwest Office

Friedman Arranges Sale of 8,570 SF Office Building in Michigan

by Amy Works May 18, 2015

LATHRUP VILLAGE, MICH. — Friedman Integrated Real Estate Solutions has arranged the sale of an office building located at 26221 Southfield Road in Lathrup Village. Williamsburg LLC sold the property, which is located within Williamsburg Plaza South, to Dr. Quadir Jaleel of OMJ Building LLC for an undisclosed price. Dan Verderbar of Friedman represented both the seller and buyer in the transaction.

May 18, 2015

New York Northeast Office

Hines, Pacolet Milliken Enterprises and J.P. Morgan Sell 7 Bryant Park in NYC

by Amy Works May 18, 2015

NEW YORK CITY — Hines, along with Pacolet Milliken Enterprises and institutional investors advised by J.P. Morgan Asset Management, have sold 7 Bryant Park in New York City to an institutional investor for an undisclosed price. Located between West 39th and 40th streets, the 30-story, 470,000-square-foot property was designed by Henry N. Cobb and Yvonne Szeto of Pei Cobb Freed & Partners. Currently, floors 15 through 27 and a first-floor retail space are available for lease. Hines has assumed on-site management responsibilities and CBRE has been selected as the exclusive leasing agent for the property. Phillips Lytle and Proskauer advised on the transaction.

May 18, 2015

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