RALEIGH, N.C. — Vitus Enterprises has purchased two Class A office buildings in Raleigh totaling 48,000 square feet in a sale-leaseback transaction. Vitus purchased the facilities, located at 6870 and 6880 Perry Creek Road in Raleigh's Highway 1/ Capital Boulevard office submarket, for $6.2 million. The seller, SST, and Thompkins Associates will occupy one of the buildings, and Vitus will occupy the second facility at a reduced rental rate. Sam DiFranco and Sam DiFranco Jr. of Trinity Partners represented the buyer in the sale-leaseback transaction. York Properties represented the seller.
ATLANTA — Newport Beach, Calif.-based KBS Strategic Opportunity REIT has signed three new leases totaling 36,853 square feet in its Northridge Center I & II office buildings, located in Atlanta's Central Perimeter submarket. The lease transactions include a 17,325-square-foot lease with Allstar Financial Group, a 10,166-square-foot lease with Woolpert and a 9,362-square-foot lease with One Source Relocation.
NEW YORK CITY — American Realty Capital New York Recovery REIT Inc. (ARC) has agreed to acquire a leasehold interest in the Viceroy Hotel and take preferred equity interest in an office building in Manhattan. The aggregate cost for the two assets is $188.5 million. The 29-story, 240-key Viceroy Hotel is located on West 57th Street, between 6th and 7th avenues. Architectural firm Roman and Williams designed the newly constructed hotel, which will be managed by Viceroy Hotel Group. The 513,000-square-foot, 27-story office building is located at 123 William St. in the Financial District of Manhattan. These acquisitions bring ARC ‘s portfolio to $1 billion in assets.
DALLAS — Bradford Commercial has arranged the lease renewal of 43,539 square feet of office space for Benefit Mall, a benefits and payroll services provider, at the Galleria Plaza. Located at 4851 LBJ Freeway in Dallas, the property totals 12 stories and 187,644 square feet. Sharon Friedberg and Melanie Hughes of Bradford represented the landlord, YPI Central Expressway Properties LP. Robbie Baty and Bill McClung of Cushman & Wakefield represented the tenant.
LAS VEGAS — Blackstone Real Estate Partners VII has purchased the Hughes Center, a 1.4-million-square-foot office and retail campus in Las Vegas, for $347 million. The 68-acre, master-planned development is located at 370 Hughes Center Drive. The acquisition includes Class A office space, several restaurants and three undeveloped parcels. Notable tenants at the center include Gordon Silver, Ameristar, Wells Fargo Bank, Venetian, Boyd Gaming, Snell & Wilmer, Lewis and Roca, LLP, as well as restaurants like Del Frisco’s, Lawry's Prime Rib, Fogo de Chao, Bahama Breeze, Gordon Biersch Brewery and McCormick & Schmick. A new Starbucks is under construction. Equity Office, a wholly owned affiliate of Blackstone, will handle the center’s management operations and oversee its leasing efforts. Colliers International, which previously handled the center’s leasing, has be retained by Equity Office. Blackstone represented itself in this transaction, while the undisclosed seller was represented by HFF’s Mark Gibson, Scott Galloway and Dan Cashdan.
SAN DIEGO — Kilroy Realty Corporation (KRC) has purchased The Heights at Del Mar, a 218,940-square-foot office campus, for $126.35 million. The Class A campus is located at 12770-12790 El Camino Real in the San Diego submarket of Del Mar Heights. The property contains a life science building, as well as a 4.2-acre entitled land parcel that can accommodate an additional 90,000-square-foot office or life science facility. The Heights is anchored by Neurocrine Biosciencese and Knobbe Martens Olson & Bear. These two tenants occupy about 94 percent of the property. Additional tenants include Allen Group Architects, Southwest Value Partners and Backplane. This acquisition represents the largest sale within Del Mar Heights since 2007, according to Rick Reeder and Brad Tecca of Cassidy Turley, who resented both KRC and the seller, Prudential Real Estate, in this transaction.
WASHINGTON, D.C. — Rockrose Development Corp. has purchased the 2000 L Street office building in Washington, D.C.'s central business district from Brookfield Office Properties for $192 million. The eight-story, freestanding asset spans a full city block from 20th to 21st streets N.W. The property is 96 percent leased to 31 tenants. Jim Meisel, Dek Potts, Andrew Weir, Stephen Conley and Matt Nicholson of HFF represented the seller in the transaction.
BOSTON — TripAdvisor has signed a 72,000-square-foot office lease at 226 Causeway St. in Boston’s North Station. Two subsidiaries of TripAdvisor — Smarter Travel and FlipKey — will occupy space on the building’s second, third and sixth floors. The groups will relocate from Charlestown and Boston, respectively, and move in later this year. The lease brings the building to 90 percent occupancy. Michael Joyce, Thomas Ashe and Patrick Buckley of Richards Barry Joyce & Partners LLC represented the landlord in the transaction. The firm is the exclusive commercial leasing agent for 226 Causeway St. Mark Roth of Cushman & Wakefield and Anne Columbia of Columbia Group Realty Advisors Inc. represented TripAdvisor.
IRVING, TEXAS — CBRE has brokered the sale of a 146,538 Class A office complex in Irving, a suburb of Dallas approximately 10 miles west of downtown. Located at 100 East Royal Lane, the complex includes a three-story office wing as well as a two-story telecom/studio wing. The property was 94 percent leased at the time of the sale to tenants such as Fox Sports Net Southwest, Advanced Federal Credit Union and CRM Studios. Eric Mackey, Gary Carr, John Alvarado and Robert Hill of CBRE represented the seller, Capital Commercial Investments Inc. Westdale Real Estate Investment & Management purchased the asset for an undisclosed amount.
THE WOODLANDS, TEXAS — NAI Houston has arranged a lease of 53,000 square feet of Class A office space in The Woodlands for Waste Connection Inc. The tenant will occupy half of the first floor and the entire second and third floors of the property, which totals 11 stories at 3 Waterway Square. Jason Whittington of NAI represented the Waste Connection in the negotiations, while Robert Parsley and Norm Munoz of Colliers represented the landlord, The Woodlands Development Company.