Office

M&M Arranges Sale of 50,050 SF Office Building in Fort Worth

by Haisten Willis November 4, 2014

FORT WORTH — Marcus & Millichap has arranged the sale of Marine Creek Business Park, a 50,050-square-foot office property located in Fort Worth. Ron Hebert of Marcus & Millichap’s Dallas office marketed the property on behalf of the seller, a limited liability company. Wayne Bares, also of the firm’s Dallas office, secured and represented the buyer, a limited liability company. The buyer aims to maximize value through lease up, increasing leases to current market rents and through improved management of expenses. Marine Business Park is located at 3501-3529 N. W. Loop 820 northeast of Azle Avenue. The building was built in 1982 and sits on 3.5 acres. The property was renovated in 2009 and was 95 percent occupied at the time of sale.

November 4, 2014

Moody Rambin Arranges Office Lease Renewal, Expansion in Houston

by Haisten Willis November 4, 2014

HOUSTON — Moody Rambin has arranged a lease renewal and expansion for Margolis Brady Raghavan Financial Inc. at the 2000 W. Loop South building in Houston. The lease is for 4,593 square feet of office space. Bob Cromwell and Kevin Nolan of Moody Rambin represented the building’s owner, SRI Nine 2000 WL LP. Scott Covington with SE Covington represented the tenant, Margolis Brady Raghavan.

November 4, 2014

Nevada Office Western

Las Vegas Office Portfolio Changes Hands

by Nellie Day November 4, 2014

LAS VEGAS – A five-property office and warehouse portfolio in Las Vegas has sold to McLeod 5 LLC for an undisclosed sum. The transaction includes three multi-tenant office buildings and two multi-tenant office/warehouse buildings. The buildings are located at 6275, 6285, 6325, 6340 and 6360 McLeod Drive. The LLC was represented by Tony Castrignano of Remax Commercial Sky Mesa. The unnamed seller was represented by CBRE’s Charles Moore, Marlene Fujita Winkel and Ashley Kolaczynski.

November 4, 2014

California Office Western

Ergobaby Leases Space in Los Angeles

by Nellie Day November 4, 2014

LOS ANGELES – Ergobaby has leased 16,378 square feet of office space in Downtown Los Angeles. The space is located at 617 West 7th Street. The consumer baby products company will occupy an entire floor. The company will be relocating from its existing headquarters at nearby 888 Figueroa early next year. Ergobaby was represented by Andrew Lustgarten and Sonya Schmidt of Studley. The landlord, The Swig Company, was represented by CBRE’s John Zanetos, Chris Penrose and Mark O’Brien.

November 4, 2014

Georgia Office Southeast

Batson-Cook Breaks Ground on $36M Service Center for Blue Cross Blue Shield of Georgia

by John Nelson November 4, 2014

COLUMBUS, GA. — Batson-Cook Construction has broken ground on a high-tech, flagship service center for Blue Cross Blue Shield of Georgia (BCBSGA) in Columbus. The $36 million, 245,000-square-foot property will house up to 2,000 associates upon its completion in the third quarter of 2015. The three-story building will be located in Muscogee Technology Park. The Molasky Group is the developer and owner of the asset. The design team includes architect Hecht Burdeshaw Architects and interior designer The Dollries Group. Batson-Cook will also do the build-out for the asset, which includes a three-story atrium, dining room and fitness center. Savills Studley represented BCBSGA in the lease transaction with The Molasky Group.

November 4, 2014

Illinois Midwest Office

The Boulder Group Arranges $5.1M Sale of Bank of America Property in Chicago

by Danielle Everson November 3, 2014

CHICAGO — The Boulder Group has arranged the $5.1 million sale of a single-tenant Bank of America property in Chicago. The building is located at 4200 S. Ashland Ave. and features five drive-thru lanes and 44 designated parking spaces. There are 10 years remaining on the Bank of America lease, which expires Oct. 31, 2024. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Midwest-based real estate developer. A Canadian-based investor purchased the property.

November 3, 2014

California Office Western

Barker Pacific Group, Rockwood Acquire Westlake Spectrum in Los Angeles

by Nellie Day October 31, 2014

LOS ANGELES – A joint venture between Barker Pacific Group and Rockwood Capital has purchased Westlake Spectrum, a 107,381-square-foot office property in the Los Angeles submarket of Westlake Village, for an undisclosed sum. The Class A property is situated near the 101 Freeway in an area known as the Technology Corridor. The two-building property is about 85 percent occupied. The main tenant is Securitas USA, a private security services firm. The seller was TA Associates.

October 31, 2014

Florida Office Southeast

FA Commercial Brokers $10M Sale of Miami Office Building

by John Nelson October 31, 2014

MIAMI — FA Commercial has brokered the $10 million sale of a 52,499-square-foot office building located at 3415 N.E. 2nd Ave. near Miami’s Midtown and Design District neighborhoods. The asset was 60 percent leased at the time of sale. Fabio Faerman of FA Commercial represented both the buyer and the seller in the transaction. The undisclosed buyer plans to reposition the office building’s first two floors into retail space.

October 31, 2014

Illinois Midwest Office

Colliers Arranges $5.2M Sale Office Building in Huntley, Ill.

by Danielle Everson October 30, 2014

HUNTLEY, ILL. — Colliers International has arranged the $5.2 million sale of a 58,400-square-foot office building in Huntley, approximately 57 miles west of Chicago. Life Spine Inc. will occupy space in the former Duo-Fast Corp. building located at 13951 S. Quality Drive. Glenview, Ill.-based Illinois Tool Works Inc. sold the two-story, 44,000-square-foot Class A office building, which it acquired in 1999. The property was built in 1997. Life Spine, a spinal implant company, outgrew its 11,000-square-foot headquarters building at 2401 W. Hassell Road in Hoffman Estates and will move to the new location before the end of the year. Ned Frank of Colliers represented the buyer, Life Spine. Jeff Janda and Jim Planey of Lee & Associates represented the seller, Illinois Tool Works.

October 30, 2014

Michigan Midwest Office

Friedman Brokers Sale of 22,556 SF Office Building in Lansing, Mich.  

by Danielle Everson October 30, 2014

LANSING, MICH. — Friedman Integrated Real Estate Solutions has arranged the sale of a 22,556-square-foot office building in Lansing. The property is located at 6452 Millennium Drive. The seller, 6452 Millennium LLC, sold the building to Pat and Mark Properties LLC. Barry Swatsenbarg and Richard Deptula of Friedman represented both the buyer and seller in the transaction.

October 30, 2014

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