GARLAND, TEXAS — Lee & Associates has arranged the sale of a 15,577-square-foot office building located at 1985 Forest Lane in Garland. Brett Lewis and George Tanghongs of Lee & Associates’ Dallas/Fort Worth office represented the buyer, Dorian Business Systems. The seller, RREAF, was represented by Century 21 Judge Fite.
LOS ANGELES — Watt Plaza, a 903,000-square-foot office complex in Los Angeles, has received a $220 million refinance. The complex includes twin 23-story office towers and a 10-story parking structure. Watt Plaza is located at 1875 Century Park East. It was built in 1982. The complex was the first building in the Los Angeles submarket of Century City to receive LEED-Platinum certification. The complex has undergone $42 million worth of renovations since 2003. It is occupied by a mix of legal, accounting and financial services firms. Convenient services at the plaza include a Chase Bank, Starbucks and FedEx store. The 15-year, fixed-rate loan was provided to the Watt Companies by Prudential Mortgage Capital Company. This is the commercial mortgage lending business of Prudential Financial Inc.
TORRANCE, CALIF. — A joint venture between the Muller Company and GreenOak Real Estate has purchased Del Amo Financial Center, a 367,000-square-foot complex in Torrance, for $62.5 million. The complex is located on the corner of Hawthorne Boulevard and Carson Street. Del Amo Financial Center contains a 12-story office tower and a five-story tower, in addition to four circular pavilions. The complex was originally built in 1966 and remodeled in 1998. The JV plans to convert the property into a mixed-use facility that contains office, medical and retail space. The new iteration will also include a 42,000-square-foot health club and 10,000-square-foot restaurant. The complex will be rebranded as Del Amo Crossing once the conversion is complete. The first phase will include the conversion of the five-story tower into a state-of-the-art medical facility that will be designed for large medical groups. It will also modernize the mechanical, electrical and plumbing systems, as well as the common areas and lobby space of the 12-story tower. The portion of the property facing Hawthorne Boulevard may also be repositioned to accommodate for additional retail users. Parking will be re-designed and enhanced to improve access and circulation patterns throughout the entire project. Chris Sinfield and …
SANTA MONICA, CALIF. — Montana Avenue Capital Partners has acquired a 118,394-square-foot office campus in Santa Monica. The property was originally listed for $32.5 million, though the final sales price was not disclosed. The campus is located at 6303-6309 Carpinteria Ave. It is situated on nine acres that overlook the Pacific Ocean. The property serves as the headquarters for CKE Restaurant Holdings, which owns Carl’s Jr, Hardee’s and Green Burrito. Cloud-based construction management software firm Procore Technologies recently signed a lease at the campus as well. Procore occupies two buildings on the campus, while CKE occupies the third building. The campus will soon undergo a renovation in the hopes of leasing up its remaining space. The renovation will add indoor-outdoor collaborative space and patio areas, glass roll-up doors, new signage and architectural features and EV charging stations. The property will also expose existing 15-foot ceiling heights, among other creative improvements.
LOS ANGELES – Matura Farrington has signed a 65-month lease for 5,696 square feet of office space in Downtown Los Angeles. The space is located at 617 West Seventh Street. Matura Farrington is a staffing services agency. The building is owned by the Swig Company.
SCOTTSDALE, ARIZ. – A 41,348-square-foot office building in Scottsdale has sold to EDU3 Ventures and SHOP LLC for $4.2 million. The Class B building is located at 13430 North Scottsdale Road. The structure, formerly known as Scottsdale Airpark Plaza, was built in 1985. It is being redesigned, renovated and renamed Habitat-X, or “Hab-X.” The buyers were represented by Marc Bonilla of Colliers’ Scottsdale office. Bonilla is also the president of EDU3 Ventures. The seller, Charles Meyer, was represented by Mike Milic and Tyler Bush of Colliers International.
PLANO, TEXAS — Toyota Motor North America has unveiled architectural renderings of its future North American headquarters, providing new details of the site layout and exterior design of its corporate campus. Designed by Corgan Associates, the architectural renderings offer a number of different perspectives and details of the proposed Toyota campus. The complex will include seven buildings, up to five stories tall, arranged around a central plaza that serves social and business functions such as dining, fitness and conferencing. Building facades are predominantly glass, with roof overhangs along the southern exposures to cast shade. The design utilizes local and regional materials and low-water plants that reflect the native landscapes of north-central Texas, along with water features for catching and storing water for irrigation and parking structures and office buildings that can support solar panels for renewable energy production. Toyota intends to pursue LEED Platinum certification for the campus.
HARTFORD, CONN. — Westport Capital Partners has acquired Goodwin Square, which includes a 30-story office tower and the Goodwin Hotel, in downtown Hartford for an undisclosed price. Bordered by Asylum Street, Ann Street, Pearl Street and Haynes Street, the 330,901-square-foot office tower is built over an eight-story, 302-car garage. The property was designed by Skidmore, Owings & Merrill and built in 1989. The 124-room Goodwin Hotel, which has been closed since 2009, totals 110,000 square feet and includes 24 suites, conference areas, a restaurant and a bar. The office tower and hotel are connected by a multi-story atrium. The name of the seller and the acquisition price were not disclosed.
PASADENA, CALIF. – Congress Management Associates has purchased a 17,632-square-foot medical office building in Pasadena for $10.7 million. The building is located at 39 Congress Street, next to the 625-bed Huntington Memorial Hospital. The facility was built in 1984. Some of the local physicians who acted as investors in this purchase plan to occupy a portion of the building in the near future. The building is currently 95 percent occupied. The buyer was represented by Michael Dettling of Avison Young. The seller, 39 Congress Partnership, was represented by Carver Associates.
TEMPE, ARIZ. – Western Refining has expanded its lease at Papago Buttes Corporate Plaza in Tempe. The independent refining and marketing company will lease an additional 17,723 square feet at the office plaza, which is located at 1250 W. Washington Street. The company will take occupancy of the additional space this summer. Western Refining was represented by Larry Downey of Cushman & Wakefield of Arizona. The landlord was represented by Tony Hepner and Janet Ehrlich of Metro Commercial.