Office

CBRE Brokers Sale of Wells Fargo Center in Downtown Tampa

by John Nelson December 9, 2014

TAMPA, FLA. — CBRE has brokered the sale of Wells Fargo Center, a Class A, 389,608-square-foot office building located at 100 S. Ashley Drive in downtown Tampa. The 22-story LEED Gold-certified building was 93 percent leased at the time of sale to tenants such as Wells Fargo, UBS, USAA, Valet Waste, Phelps Dunbar, AllegiantMD, Warren Averett and Carlton Fields. Wells Fargo Center features a fitness center, café, full-service bank branch, ATM, new conference center and a complimentary shuttle service. Christian Lee, Dale Peterson, Charles Foschini and Marcos Minaya of CBRE brokered the transaction.

December 9, 2014

Massachusetts Northeast Office

Jamestown Acquires 220,000 SF Davenport Building in Cambridge

by Amy Works December 8, 2014

CAMBRIDGE, MASS. — Jamestown, a national real estate and investment firm, has acquired the Davenport building in Cambridge from DivcoWest for an undisclosed price. The property was originally constructed in 1860 as the Davenport Furniture Factory. In 1987 the seven adjoining buildings were renovated to function as a single four-story, 220,000-square-foot office building. Recently the building underwent an $18 million capital improvements program to bring the property to modern standards. The property is currently fully leased to seven tenants: HubSpot, Sonos, PowerSteering Software, npg, Nimbus, Atlas Venture and Manta. Robert Griffin, Edward Maher and Matt Pullen of Cushman & Wakefield of Massachusetts brokered the transaction.

December 8, 2014

Connecticut Northeast Office

Press/Cuozzo Commercial Arranges Long-Term Lease in Hamden, Conn.

by Amy Works December 8, 2014

HAMDEN, CONN. — Hamden-based Press/Cuozzo Commercial Services has arranged a long-term lease for Cross Sector Consulting LLP. The company will relocate from its downtown New Haven, Conn., location to occupy 1,750 square feet of office space at 2558 Whitney Ave. in Hamden. Joel Nesson of Press/Cuozzo represented the landlord, Cucinelli Whitney LLC, while Kevin Walker, also of Press/Cuozzo, represented the tenant in the deal.

December 8, 2014

California Office Western

San Diego Office Building Sells for $3M

by Nellie Day December 8, 2014

SAN DIEGO – An 11,686-square-foot office building in San Diego has sold to Jason R. Larson for $3 million. The building is located at 5925 Kearny Villa Road. The buyer plans to use the first floor of the building as the headquarters for Lars Remodeling and Design. The current tenant will continue to occupy the second floor. The building was constructed in 1991. Larson was represented by Jody VanSumer of San Diego Market Realty. The seller, 5925 Kearny LLC, was represented by Derek Hulse and Derek Applbaum of Colliers International.

December 8, 2014

Arizona Office Western

Arizona Oncology Building in Tucson Sells for $2.9M

by Nellie Day December 8, 2014

TUCSON, ARIZ. – An 11,036-square-foot medical building in Tucson that is leased to Arizona Oncology has sold to Redyns Development for $2.9 million. The building is located at 1620 W. St. Mary’s Road. Redyns was represented by Stephen Cohen and Russ Hall of Cushman & Wakefield | PICOR. The seller, St. Mary’s Silverbell Building LLC, was represented by CBRE’s Mike Sandahl, Wyatt Campbell and Buzz Isaacson.

December 8, 2014

Office Texas

State Farm Renews Lease at Allen Station in Metro Dallas

by Haisten Willis December 5, 2014

ALLEN, TEXAS — Cassidy Turley has arranged a lease renewal for State Farm Mutual Automobile Insurance Co.’s 62,791-square-foot office space at Allen Station in Allen. Randy Cooper and Craig Wilson of Cassidy Turley represented State Farm in the transaction. John Hendricks and Wilson Brown of CBRE represented the landlord, LIT Finance LP. Allen Station is located at 381 E. Exchange Parkway and spans 220,326 square feet. State Farm has occupied the building since 2004. Allen Station was built in 2001 and is located just east of U.S. Highway 75 on the north side of Exchange Parkway.

December 5, 2014

Georgia Office Southeast

Cousins Signs Veritiv Corp. to 68,315 SF Lease at Northpark Town Center

by John Nelson December 5, 2014

ATLANTA — Cousins Properties Inc. has signed Veritiv Corp. (NYSE: VRTV), a $9.5 billion Fortune 500 company, to a 68,315-square-foot office lease at Northpark Town Center in Atlanta. The business-to-business distribution firm plans to take occupancy at Northpark in the spring of 2015. With the addition of Veritiv, the office building in Atlanta’s Central Perimeter submarket is 91 percent leased. Sam Holmes, John Shlesinger and Ellen Stern of CBRE represented Veritiv in the lease transaction. Atlanta-based Cousins purchased Northpark in October 2014 from AEW Capital Management and the Bank of Ireland for $348 million.

December 5, 2014

Arizona Office Western

Scottsdale Office Building Sells for $5.1M

by Nellie Day December 4, 2014

SCOTTSDALE, ARIZ. – A 30,120-square-foot office building in Scottsdale has sold to Garland’s Oak Creek Lodge for $5.1 million. The building is located at 6910 E. Chauncey Lane within the North Scottsdale Corporate Center. It was constructed in 2006. Garland’s was represented by Francis Marotta of MarCor Commercial Real Estate. The seller, CM & PM Acquisitions LLC, was represented by Colton Trauter and Bill Blake of Lee & Associates.

December 4, 2014

Arizona Office Western

Progressive Leasing Takes Space at Talavi Corporate Center in Glendale

by Nellie Day December 4, 2014

GLENDALE, ARIZ. – Progressive Leasing has absorbed 20,000 square feet at Talavi Corporate Center in Glendale. The office campus is located at 5651 W. Talavi Blvd. This will be the financial services vendor’s first operations center in Arizona. CBRE’s Ashley Brooks, Jim Bayless and Jenny Aust negotiated the lease on behalf of Progressive and its landlord, ROF II Talavi LLC.

December 4, 2014

Illinois Midwest Office

Golub & Co., Alcion Ventures Acquire Oak Brook Executive Plaza

by John Nelson December 4, 2014

CHICAGO — Golub & Co., in a partnership with Boston-based Alcion Ventures, has acquired Oak Brook Executive Plaza, a 389,000-square-foot office in Oak Brook, a Chicago suburb. Bank of America provided financing for the transaction. The purchase price was undisclosed, but according to Crain’s Chicago the joint venture agreed to pay about $57 million, or $150 per square foot, for the property. The office complex is located on West 22nd St. across from Oak Brook Center Mall and is visible from I-88. Chicago-based Golub and Alcion plan to reposition the property as high-quality office space for corporate and creative firms. The redevelopment plans include enhanced curb appeal, updated office interiors and common areas and new tenant amenities.

December 4, 2014

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