LACOMBE, LA. — Weyerhaeuser Real Estate Development Co. (WREDCO) has begun developing Tamanend, an 848-acre master-planned community that will feature office space, a college, retail, restaurants and single- and multifamily residential units. Tamanend will be located in the centermost part of St. Tammany Parish north of Lacombe, which is approximately 45 minutes north of New Orleans. Gulf States Real Estate Services is providing project management, marketing and real estate consulting for the project. Northshore Technical Community College is planning to open an advanced technology center and STEM campus at Tamanend.
Office
MOUNT LAUREL, N.J. — NAI Mertz has arranged the sale of two office buildings totaling 100,000 square feet in Mount Laurel for an undisclosed price. Situated at 5000 and 7000 Atrium Way within Horizon Corporate Center, the bulidings each offer 50,000 square feet of Class A office space. Currently, 5000 Atrium Way is 100 percent lease and 7000 Atrium Way has one 12,000-square-foot unit available for lease. Rebecca Ting and Julie Kronfield of NAI Mertz represented the seller, Cherry Hill, N.J.-based SJS Realty. The buyer was Main Line Development LLC.
WARREN, N.J. — Colliers International has arranged a long-term lease for Mindtree Ltd., a global technology services provider, at 25 Independence Blvd. in Warren. The Bangalore, India-based company is relocating its U.S. headquarters to the new space. Mindtree will occupy 11,529 square feet on the top floor of the four-story, 106,879-square-foot office building. Michael Tesser of Colliers International represented the tenant, while William O’Keefe and Kelsey Nakamura of Cassidy Turley represented the landlord, Normandy 25 Independence LLC, in the transaction.
STAMFORD, CONN. — GHP Office Realty LLC has brokered the sale of a 65,000-square-foot office building located at 30 Buxton Farms Road in Stamford. MSIH LLC, a Connecticut-based home building company, purchased the Class A property for $13.5 million from GHP Buxton LLC. Located at Exit 35 of the Merritt Parkway/CT-15 and High Ridge Road, the building is 90 percent occupied by 14 tenants, ranging from medical offices to financial services. New Canaan, Conn.-based Hobbs Inc. plans to relocate its headquarters to the remaining vacant space at the building. Andrew Greenspan and James Houlihan of GHP Office Realty represented the seller, while Corey Gubner, Ted Grogan and Greg Romano of RHYS LLC represented the buyer in the transaction. Elizabeth Smith of Goldberg Weprin Finkel Goldstein LLP provided legal counsel for the seller, and Kenneth Gammill Jr. of Gilbride, Tusa, Last and Spellane LLC served as legal counsel for the buyer in the transaction. GHP Office Realty is the office building division of Houlihan-Partners Realtors LLC.
IRVINE, CALIF. – An unnamed buyer has purchased a 118,086-square-foot Irvine Business Complex (IBC) office propertyfor $26.5 million. The property is located at 17000-17040 Red Hill Ave. This space serves as the corporate offices of Pacific Dental Services. The group has occupied the space since it was renovated 18 months ago. The renovation added many creative office elements, such as an indoor/outdoor patio, indoor plants and trees, high ceilings, and natural lighting from skylights and solar tubes. The seller, Red Hill Covenant Group LLC, was represented by Scott Read and Michael Kane of NGKF.
CARLSBAD, CALIF. — Regent Properties has acquired Fairway Corporate Center, a 115,414-square-foot office property in Carlsbad, for $23.5 million. The two-building, Class A center is located at 5540 and 5541 Fermi Court inside the Carlsbad Research Center. TaylorMade-adidas Golf occupies the former address. It also occupies part of the latter address, along with Hartford Life. The property is 70 percent leased in total. The center was built in 1999. Regent Properties now owns seven properties in the North San Diego County area. Aric Starck of Cassidy Turley represented both the buyer and seller, Fermi Court LP, an entity for Greene Properties, in this transaction.
ATLANTA — Two Atlantic Station office towers owned by CBRE Global Investors — 201 17th St. and 271 17th St. — have been designated as BOMA 360 Performance Buildings by the Building Owners and Managers Association (BOMA) International. The BOMA 360 Performance Program recognizes commercial properties that demonstrate best practices in building operations and management, according to BOMA. In addition to the BOMA 360 designation, 201 17th St. also received the 2013-2014 Regional TOBY Award in the 250,000- to 499,999-square-foot category, and 271 17th St. received the 2013-2014 Regional TOBY Award in the 500,000- to 1 million-square-foot category. This year both towers were also awarded LEED-EB Gold certification, as well as ENERGY STAR certification.
LOS ANGELES – A 164,312-square-foot office and retail property in the Los Angeles submarket of Woodland Hills has received $19.3 million in financing. The property is located at 6325 & 6355 Topanga Canyon Blvd. Notable tenants at the property include Fleming’s and Roy’s. The first-mortgage loan featured a significant cash-out for the office and retail buildings. The 10-year, interest-only loan was arranged by David Blum and Michael Elmore of NorthMarq Capital’s Los Angeles office through the firm’s relationship with a CMBS lender.
RIVERSIDE, CALIF. — Riverwalk office building, a 40,361-square-foot office space in Riverside, has sold to California Riverside LLC for $7.1 million. The Class A building is located at 11801 Pierce Street. Notable tenants include US Bancorp Real Estate, Regus Workplaces and American College of Healthcare. Riverwalk was built in 2007. California Riverside was represented by Traci Thomas of Continental Property Group. The seller, Turner Real Estate Investments, was represented by CBRE’s Mike Kendall, Darla Longo and Barbara Emmons, along with Tom Pierik and Dave Mudge of Lee & Associates.
WILMINGTON, MASS. — Waltham, Mass.-based Vantage Builders Inc. has completed a 23,000-square-foot office renovation project for Trane, on behalf of Griffith Properties LLC. Vantage has completed the $925,000 tenant fit-up for Trane at 181 Ballardvale St., which is part of Ballardvale Office Park. The project required the complete demolition of the existing space prior to the reconstruction of seven offices, three conference rooms, two training rooms, an employee lounge and a kitchen. The new offices feature new carpeting, lighting, paint, custom millwork, glass walls and new doors. Vantage also installed a new energy management system, including five rooftop units to help Trane reduce overall heating and cooling costs. The project team included Design-Science as architects and Engineered Systems as mechanical engineering services.