HOUSTON — InfusionDev Corp. has leased 9,809 square feet at Town Centre I located at 750 Town & Country Blvd. in Houston. Bob Cromwell and Kevin Nolan of Moody Rambin represented the building owner, Town Centre Partners Ltd., and Kristen Rabel and Weldon Martin of CBRE represented the tenant in lease negotiations.
SUGAR LAND, TEXAS — Transwestern has been selected by Equus Capital Partners Ltd. to lease and manage the Comerica Bank Building, a 193,998-square-foot office building located at 1 Sugar Creek Center Blvd. in Sugar Land. Doug Little and Louann Pereira of Transwestern will provide leasing services for the complex. The building’s amenities include surface parking and an attached four-level parking garage, a deli and full-service banking facility.
NEW YORK CITY — Madison Realty Capital has provided $107.2 million in first mortgage financing for the first phase of Fortis Property Group’s acquisition of the Long Island College Hospital (LICH) real estate portfolio in Brooklyn. Collateral for the loan is a mix of former LICH properties comprising 357,000 square feet of retail, medical office and residential space, as well development sites. The properties are located at 91-95 Pacific St., 350-352 Hicks St., 349 Henry St., 112 Pacific St., 82 Amity St., 84 Amity St., 124-134 Atlantic Ave., 113 Congress St., 336 Flatbush Ave. and 184 Sterling Place. Madison Realty provided Fortis with a flexible financing solution to facilitate the acquisition, which is the culmination of a complex, multi-party deal related to the LICH portfolio. David Harte of Ackman-Ziff represented Fortis in the transaction.
ROCKY HILL, CONN. — O,R&L Commercial has brokered the sale of an office building located at 2264 Silas Denne Highway in Rocky Hill. The 15,570-square-foot property sold for $610,000. The buyer, NAJO92 Holdings LLC, plans to use the property for its various businesses. Robert Gaucher of O,R&L Commercial represented the seller, 264 SDH LLC, in the transaction. The buyer was self-represented.
ROLLING MEADOWS, ILL. — Leopardo Cos. Inc. has broken ground on the recladding and renovation of an office tower in Rolling Meadows. The 11-story, 315,000-square-foot office building is located at 2850 Golf Road. When complete in the first quarter of 2017, the modernized building will become the global corporate headquarters of Arthur J. Gallagher & Co., which will relocate from Itasca, Ill. Leopardo is serving as general contractor in collaboration with Wright Heerema Architects.
MINNEAPOLIS — Davis Group has acquired 6009 Wayzata Blvd. in Minneapolis for a future medical/office development. Westside Office Park LLC sold the property for $3.2 million. The 33,724-square-foot property consists of office and auto sales space. The acquisition is part of an assemblage of land acquired by Davis Group for its medical/office development. Robert Bayer, Dale Severson and Rafik Moore of Coldwell Banker Commercial Griffin Cos. represented the seller in the transaction.
GARLAND, TEXAS — RagingWire Data Centers, a data center provider, has purchased 42 acres of land in Garland to build a 1 million-square-foot data center campus known as TX1. The 80-megawatt property will be located off of the President George Bush Turnpike at the intersections of Lookout Drive and Campbell and Telecom roads. The city of Garland and Garland Power & Light worked with RagingWire to provide planning assistance and economic development incentives for the project. Construction is expected to begin immediately on the first of five 180,000-square-foot data centers at the TX1 campus. Leasing of wholesale build-to-suit vaults, custom data center buildings and retail colocation cages and racks is expected to commence by September 2016. Bo Bond and Ali Greenwood of JLL represented RagingWire in the land acquisition.
INDEPENDENCE, OHIO — The City of Independence has approved a series of area development plans and selected Cleveland, Ohio-based Fairmount Properties LLC as a development partner. The city, located about 12 miles south of Cleveland, plans to develop and redevelop various city-owned property in downtown Independence, including the former Independence Middle School, and a 33-acre site in the Northwest Quadrant of Rockside Road. The overall plan focuses on bringing much-needed residential, commercial and public amenities to the community, while the initial scope of the development planning will concentrate on adding new for-sale residential choices to the downtown market. Additionally, a complementary neighborhood retail component is included in the initial planning, which will expand housing options for young professionals, empty nesters and downsizers. The vision for the 33-acre, city-owned property is a mixed-use district with a corporate focus that also incorporates ancillary retail, restaurant, entertainment and residential uses within a compact and walkable street pattern. The city and Fairmount will immediately begin the pre-development process for the projects. The anticipated completion for the initial phases of development is scheduled for 2017.
VALLEY VIEW, OHIO — A partnership has acquired a 17,500-square-foot mixed-use property located at 5345 Canal Road in Valley View, a suburb of Cleveland. A financial institution sold the asset for $610,000. At the time of closing, the property was more than 90 percent occupied. James McHale of Marcus & Millichap’s Cleveland office represented both parties in the transaction.
COLUMBUS, GA. — Blue Cross and Blue Shield of Georgia (BCBSGa), Georgia’s largest health solutions company, has opened its new office building in the Muscogee Technology Park in Columbus. The new 235,000-square-foot facility will house approximately 1,500 employees and will be BCBSGa’s main hub for servicing its nearly 3 million members. The new three-story facility will replace an existing property that BCBSGa has owned since 1958 and a smaller leased facility in the Muscogee Technology Park. The new property brings together the largest collection of BCBSGa employees of any single location in Georgia. The building has two wings connected by an atrium and features an outdoor patio, fitness center and a 1.2-mile walking path. Public partners on this project included Columbus Consolidated Government, the Development Authority of Columbus and the Greater Columbus Chamber of Commerce. The development team includes developer The Molasky Group, general contractor Batson-Cook Construction and architect Hecht Burdeshaw Architects. More than 150 construction workers were employed at the peak of construction, the vast majority of which through subcontractors from the Columbus area and the state of Georgia.
