Office

J.C. Anderson Undertakes 170,000 SF Office Renovation for Verizon in Rolling Meadows, Ill.

by Jonathan Mehall August 18, 2015

ROLLING MEADOWS, ILL. — General contractor J.C. Anderson Inc. will complete a 170,000-square-foot office renovation for Verizon Communications at 1701 E. Golf Road (Continental Towers) in Rolling Meadows. Headquartered in New York City, Verizon employs approximately 178,500 workers and maintains offices nationwide. The firm is relocating its office in Elgin, Ill., to Continental Towers. J.C. Anderson will complete the 170,000-square-foot build-out of new space, which will include the addition of offices on seven floors of the building; a call center with up to 305 positions per floor; as well as training rooms and conference rooms. The target date for completion is April 2016. William Burfeind and John Angelovich are leading the construction team for J.C. Anderson.

August 18, 2015

Midwest Missouri Office

DTZ Arranges 117,618 SF Office Lease for Centene in Chesterfield, Mo.

by Jonathan Mehall August 18, 2015

CHESTERFIELD, MO. — DTZ has arranged a 117,618-square-foot office lease for St. Louis-based Centene Corp. at Timberlake Corporate Center II, located at 1370 Timberlake Manor Parkway in Chesterfield. Centene provides a portfolio of services to government-sponsored healthcare programs. Built in 1999 and owned by Franklin Street Properties, Timberlake Corporate Center II is one of three buildings on the campus. Timberlake II features custom-designed suites and covered parking. Before the end of the year, the landlord expects the property to feature a full amenity package, including food service, conference/training room and a fully equipped fitness center. DTZ serves as the property manager. Scott Bazoian of DTZ represented Centene in the lease transaction. Jim Mosby, D.J. Fuchs, and Danielle Grubbs represented Wakefield, Mass.-based Franklin Street Properties.

August 18, 2015

Mixed-Use New Hampshire Northeast Office Restaurant Retail

Encore Retail Acquires Land for Mixed-Use Development in New Hampshire

by Amy Works August 18, 2015

BEDFORD, N.H. — Encore Retail LLC, a subsidiary of Dallas-based Encore Enterprises Inc., has acquired land in Bedford to develop a high-density mixed-use development on more than 16 acres. At greater than 200,000 square feet, the Class A property will feature fashion, recreation, fitness, dining and office space on South River Road. A Whole Foods is currently under construction contiguous to this site and is scheduled to open in spring 2016. Construction on the mixed-use project is slated to begin in the fourth quarter of 2016. Prellwitz Chilinski Associates is providing architectural services for the project. Theodore Chryssicas of Newmark Grubb Knight Frank brokered the land transaction. Terms of the transaction were not released.

August 18, 2015

Office Texas

Buchanan Street Partners Purchases Metro Dallas Office Property

by Haisten Willis August 18, 2015

RICHARDSON, TEXAS — Buchanan Street Partners, a real estate investment management firm, has acquired Richardson Office Center I & II, a 238,301-square-foot office campus located in Richardson. Buchanan Street acquired the property in partnership with CarVal Investors from Principal Real Estate Investors for an undisclosed amount. This is Buchanan Street’s second purchase in the greater Dallas area this year. Richardson Office Center is located at 3001 & 3101 E. President George Bush Highway and is 90 percent leased to tenants including Boeing, Genpact and Avnet. Buchanan Street plans to complete renovations to the two-building campus, including painting the exterior of the buildings and updating the lobby. Gary Carr and Robert Hill of CBRE represented the seller in the transaction, and Buchanan Street was self-represented.

August 18, 2015

Office Texas

Trammell Crow to Develop 18-Acre Site Near Dallas Cowboys Stadium

by Haisten Willis August 18, 2015

ARLINGTON, TEXAS — Trammell Crow Co. has been appointed by the city of Arlington to serve as the master developer of an 18-acre site located at I-30 and North Collins Street near the Dallas Cowboys’ AT&T Stadium. The site is known as Stadium View and has the ability to accommodate up to 1 million square feet of Class A office space. Trammell Crow has appointed CBRE to market the site.

August 18, 2015

Georgia Office Southeast

Dilweg Acquires Centennial Tower in Downtown Atlanta for $69M

by John Nelson August 18, 2015

ATLANTA — Durham, N.C.-based The Dilweg Cos. has purchased Centennial Tower, a 652,092-square-foot office tower located at 101 Marietta St. in downtown Atlanta. Dilweg bought the 36-story, Class A office tower from Jackson Corporate Real Estate for $69 million, according to the Triangle Business Journal. Built in 1975 and renovated in 1998, the property was 75 percent leased at the time of sale to tenants such as Turner Broadcasting, Peer 1 Hosting, Oracle and the Atlanta Hawks. Dilweg plans to invest more than $7 million to upgrade the buildings’ operating systems, common areas and tenant amenities to reposition the property. Jay O’Meara of CBRE represented the seller in the transaction. Dilweg has tapped CBRE to lease and manage Centennial Tower.

August 18, 2015

Midwest Minnesota Office

Cushman & Wakefield | NorthMarq Brokers Sale of Office Portfolio in Minnesota

by Jonathan Mehall August 17, 2015

MENDOTA HEIGHTS, MINN. — Cushman & Wakefield | NorthMarq has brokered the sale of a six-building office portfolio to an entity related to MSP Real Estate. The 420,000-square-foot portfolio is located on Northland Drive in Mendota Heights, approximately 10 miles southeast of Minneapolis. Terms of the transaction were not disclosed. The six Class A office buildings offer competitive lease rates and are all located with convenient access to the Minneapolis-St. Paul International Airport, I-35E, I-494 and State Highway 55. The first building in the park was constructed in 1988, with the remainder of the properties built throughout the 1990s and early 2000s. The sale is the first office acquisition by MSP Real Estate, which in recent years has primarily focused on apartment and seniors housing assets. Cushman & Wakefield | NorthMarq will continue to manage the property. Cushman & Wakefield | NorthMarq represented the seller, United Properties.

August 17, 2015

Midwest Office Ohio

Brennan Acquires Landmark Plastic Headquarters in Akron, Ohio

by Jonathan Mehall August 17, 2015

AKRON, OHIO — Brennan Investment Group LLC has acquired Landmark Plastic Corp.’s headquarters building located at 1331 Kelly Ave. in Akron. The acquisition of the Landmark Plastic facility was funded through Brennan’s $300 million joint venture with one of Arch Street Capital Advisors’ institutional clients. Full transaction terms were not disclosed. The building is 100 percent leased to Landmark Plastic, which specializes in the manufacturing of thermoformed and injection molded products for the horticultural industry.

August 17, 2015

New Jersey Northeast Office

Segal LaBate Commercial Real Estate Closes Sale of New Jersey Office Building

by Amy Works August 17, 2015

TRENTON, N.J. — Segal LaBate Commercial Real Estate has finalized the sale of the former Trenton Times building, located at 500 Perry St. in Trenton. Murray, Utah-based HighMark School Development, in collaboration with the International Academy of Trenton Charter School, acquired the 80,000-square-foot building for an undisclosed price. Situated on six acres, the building will be transformed into a K-12 school and feature outdoor playing fields and recreational areas. Segal LaBate Commercial Real Estate represented the buyer, while Richardson Commercial Real Estate represented the seller, PerTrent LLC, in the transaction.

August 17, 2015

Office Texas

Moody Rambin Arranges 18,069 SF Office Lease in Houston

by Haisten Willis August 17, 2015

HOUSTON — Mercantil Commercebank has leased 18,069 square feet at the Town Centre I building located at 750 Town & Country Blvd. in Houston. Bob Cromwell and Kevin Nolan of Moody Rambin represented the building owner, Town Centre Partners Ltd. Bobbie Bozarth of Transwestern represented the tenant in negotiations.

August 17, 2015

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