MADISON, WIS. — ALTUS Commercial Real Estate Inc. has arranged a 2,139-square-foot office lease in Madison. Wisconsin Newspaper Association will occupy the space located at 34 Schroeder Court, Suite 2. Chuck Polenz of ALTUS represented the tenant, and Jeff Jansen of ALTUS represented the landlord.
OAKBROOK TERRACE, ILL. — Zilber Property Group has opened a new Chicago regional office in Oakbrook Terrace. Lead by Todd Vezza, director of industrial investments, the office is focused on the expansion of Zilber’s Chicago industrial portfolio through acquisition and development. The new location is located at One Oakbrook Terrace Suite 510. Zilber owns and manages more than 5 million square feet of commercial space and operates corporate offices in Milwaukee and operations in Arizona, California, Florida, Hawaii, Illinois, Indiana, Texas and Wisconsin.
THE WOODLANDS, TEXAS — Liberty Pipeline Services has expanded and relocated its offices from Spring to The Reserve at Sierra Pines in The Woodlands. Liberty increased the size of its space from 3,300 square feet to 9,313 square feet in the new Class A building, which is located at 1585 Sawdust Road. Ryan Dierker and Rob Banzhaf with Newcor Commercial Real Estate represented Liberty Pipeline Services in locating and negotiating the office space lease. Jarrod McQuain of Cushman and Wakefield represented the sub landlord.
MATAWAN, N.J. — Hudson Equities Management Corp. has acquired an office property located at 90 Matawan Road in Matawan. Vision Real Estate Partners sold the property, known as Parkway 120, for an undisclosed price. The five-story building features underground parking, a dual-sided atrium lobby, an onsite café and sundries shop and card-access security. Prior to the sale, Vision Real Estate Partners’ brought the 210,000-square-foot property to full occupancy. At the time of the sale, Vision Real Estate Partners negotiated an expansion for long-term tenant iCIMS, which now occupies 83,900 square feet. The buyer and management team plans to renovate the two-story lobby at Parkway 120. The renovations will include updated finishes, new lighting and carpeting and the addition of a seating area. Vision Management will continue to manage the property under the new ownership.
QUINCY, MASS. — Massachusetts Teachers Association (MTA) has signed a long-term lease for office space at Heritage Landing in Quincy. MTA will utilize the top two floors, totaling 46,000 square feet, as its new headquarters. The space is being designed to meet the needs of MTA. Project partners include Spagnolo Gisness & Associates Inc. and WB Engineers Consultants. MTA is slated to take occupancy of the space in November. Sean Lynch of JLL represented the tenant in the deal. Peter Brown of Campanelli along with Mike Frisoli, Matthew Morgan, Dave Martel and Molly Davis of Cushman & Wakefield represented the owner, Campanelli, in the transaction. Additional terms of the transaction were not released.
LINTHICUM, MD. — DTZ has brokered the $6.5 million sale of a Class A office building located at 999 Corporate Blvd. within the Airport Square Business Park in Linthicum, a city in the Baltimore-Washington Corridor. Heritage Properties purchased the 67,384-square-foot property from LNR Partners LLC. Jonathan Carpenter, Nicole Keelty and Graham Savage of DTZ’s capital markets team in Baltimore represented LNR in the transaction.
POMONA, CALIF. – Buchanan Street Partners has purchased University Tech Center, a 100,360-square-foot suburban office complex in Pomona, for an undisclosed sum. The building is located at 3179 and 3191 West Temple Ave. Buchanan plans to complete significant improvements to the property over the next year. The building is 91 percent leased, with the County of Los Angeles occupying one of the buildings. Buchanan represented itself, while the seller, Invesco, was represented by CBRE’s Kevin Shannon and Mike Kendall.
LAKE FOREST, CALIF. – An affiliate of Menlo Equities LLC has purchased a 76,841-square-foot office building in Lake Forest for an undisclosed sum. The building is located at 26250 Enterprise. It is situated near the 241 toll road and Interstate 5 via Bake Parkway.. The building is 87 percent occupied by four tenants, with a majority of the space occupied by Panasonic Avionics Corporation. The seller, Bixby Land Company, was represented by Jeffrey Cole, Jeffrey Chiate, David Dowd and Ed Hernandez of Cushman & Wakefield’s Irvine office.
DALLAS — Buchanan Street Partners has acquired Granite Tower, a 10-story, 240,000-square-foot office building located at 4055 Valley View Lane in Dallas. Buchanan Street acquired the property on behalf of an unnamed pension plan from a partnership between CREA Investments and Macfarlan Capital Partners. Granite Tower is currently 97 percent leased. The firm acquired Granite Tower with five-year, fixed-rate financing provided by a Midwestern-based life insurance company through HFF, who acted as the mortgage broker in the transaction. Dallas-based DTZ will continue to manage and lease the property.
SAN DIEGO — Brookwood Financial Partners has received an $89.9-million loan to acquire a 484,573-square-foot office portfolio in San Diego. The portfolio contains three properties in seven Class A and B buildings. The Newport National Portfolio includes Civic View Corporate Centre at 300 Rancheros Blvd. in San Marcos; Ventana Real at 2173, 2175 and 2177 Salk Ave. in Carlsbad; and The Campus at 5962, 5964 and 5966 La Place Court, also in Carlsbad. Acquisition financing was arranged by CBRE’s Charles Foschini, Christian Lee and Christopher Apone. Blackstone provided the two-year, interest-only loan.