HAWTHORNE, CALIF. – ThinKom Solutions has signed a seven-year lease at OceanGate Business Park in Hawthorne. The park is located at 4881 W. 145th Street. The broadband antenna and product solutions provider will be expanding and relocating from its current headquarters in Torrance. ThinKom was represented by JLL’s Chris Strickfaden and Mark Mattis of PM Realty Group. The landlord, St. Paul Fire and Marine Insurance, a division of the Travellers Insurance, was represented by Britt Shuford of SCO Advisors.
Office
TEMPE, ARIZ. — Attis Investments LLC has acquired nine office condos at Riverside Office Plaza II, a 75,500-square-foot office complex in Tempe, for $2.8 million. The 27-condo plaza is located at 1215 and 1255 West Rio Salado Parkway. It is situated next to the Tempe Center for the Arts. The plaza is now sold out. Attis plans to lease and build out the vacant office condos. It was represented by JLL’s Mark Gustin. The seller, Southwest Value Partners, was represented by Jeff Wentworth and Sean Spellman of Cassidy Turley.
COLUMBIA, S.C. — Harbert Realty Services, a Birmingham, Ala.-based commercial real estate services firm, has brokered the $3.8 million sale of a 129,000-square-foot office building in downtown Columbia. The property, the former AgFirst Farm Credit headquarters, will be redeveloped into a mixed-use property featuring upscale apartment residences. James Proctor and Dean Nix of Harbert Realty Services represented the buyer, Heritage Land & Development, in the transaction. Tripp Bradley of Colliers International represented the seller.
MONTVALE, N.J. — Cushman & Wakefield’s Metropolitan Area Capital Markets Group has brokered the acquisition of 102 Chestnut Ridge Road in Montvale. JD Companies purchased the property from an institutional seller for an undisclosed price. The buyer plans to relocate its headquarters to the two-story, 50,000-square-foot office building. Situated on five acres, the property is 76 percent occupied by Community Blood Services and NJ Lenders Corp. under long-term leases. Gary Gabriel, Andrew Merin, David Bernhaut and Brian Whitmer of Cushman & Wakefield negotiated the transaction.
NEWARK, N.J. — Meridian Capital Group has arranged an $18 million loan to refinance 570 Broad Street, a 200,000-square-foot office building in Newark. The borrower, Berger Organization, received a seven-year loan featuring a 4.25 percent fixed rate, which was provided by a regional balance sheet lender. The 15-story office building is located within minutes of the Garden State Parkway, New Jersey Turnpike, Routes 1, 9, 21 and 22, and Interstates 280 and 78. Tal Bar-Or and Kyle Kite of Meridian’s New York City office negotiated the refinancing.
LOS ALTOS, CALIF. – A 4,320-square-foot office property in the Silicon Valley city of Los Altos has sold to an individual/personal trust for $2.1 million. The property is located at 166 Main Street in the downtown region. The buyer was represented by Bill Allen of Marcus & Millichap’s Palo Alto office. The seller was not named.
VILLAGE OF PINECREST, FLA. — Franklin Street Real Estate Services has brokered the $7.4 million sale of a single-tenant office building at 9480 S. Dixie Highway in the Village of Pinecrest, a suburb of Miami. The property is fully leased to Intermex Wire Transfer, which recently signed a seven-year lease extension. Deme Mekras, Elliot Shainberg and David Reinke of Franklin Street represented the buyer, Miami Har LLC, in the transaction. The seller, ATS Intermex LLC, owned the property for a little less than a decade.
FORT LAUDERDALE, FLA. — Stiles Realty has arranged more than 47,000 square feet of new leases, expansions and renewals at Commercial Place I & II, a 175,432-square-foot office campus in Fort Lauderdale. Madelayne Garcia of Stiles Realty represented the landlord, Western National Life Insurance Co., in the lease transactions. New leases totaling 15,271 square feet include: HDR Engineering Inc., an architectural and engineering firm, signed leases totaling 10,540 square feet. Keith Edelman and Scott Goldstein of JLL represented HDR in the transaction. International Tourism Management Services LLC signed a new lease for 3,218 square feet. Zachary Wendelin of Cresa represented the tenant. H5 Group, a wholesale importer of watches and jewelry, signed a new lease for 1,513 square feet. Barry Brizel of Raintree Properties & Investments represented H5. Renewed leases totaling 31,808 square feet include: Progressive Casualty Insurance has renewed for 21,576 square feet and expanded for another 5,417 square feet. The national insurance provider signed a 64-month lease. Zachary Wendelin of Cresa represented Progressive. Network solutions provider Presidio Networked Solutions Inc. renewed its lease for 4,815 square feet. Mary Catherine Washo of DTZ Americas represented Presidio.
WATERTOWN, MASS. — Cassidy Turley has arranged the sale of Riverworks Innovation Center at 480 Pleasant St. in Watertown. Farley White Interests sold the three-building office complex to Spear Street Capital for $43 million. Situated along the Charles River, Riverworks is a three- and four-story brick-and-beam office complex offering 200,000 square feet of space. The property was formerly the headquarters to Boston Scientific Corp. until the medical device company vacated the site. Farley White purchased the vacant property in 2010 and renovated it. David Pergola and Brian Doherty of Cassidy Turley represented the seller in the transaction.
DALLAS, TEXAS — Crescent has broken ground on its 530,000-square-foot McKinney & Olive project in Dallas. The development will include 480,000 square feet of office space and 50,000 square feet of retail space, including a coffee shop and three restaurants. Law firm Gardere Wynne Sewell LLP will lease 109,000 square feet and occupy four floors. Crescent will begin construction immediately, and completion is anticipated in summer 2016. The project team includes Crescent Real Estate Equities LP as developer; Pelli Clarke Pelli Architects as design architect; Kendall/Heaton Associates as executive architect; Office of James Burnett as landscape architect; and Beck Group as general contractor.