PORTLAND, ORE. — An investment fund sponsored by Unico Properties LLC has purchased the Commonwealth Building, a 219,557-square-foot creative office building in Portland, for $41 million. The building is located at 421 SW 6th Ave. It was built in 1947 and renovated from 2008 to 2010. Commonwealth is currently 93.1 percent occupied. The seller was Commonwealth Acquisition LLC. Unico will continue to manage the building. Buzz Ellis, Michel Seifer and Paige Morgan of Jones Lang LaSalle’s Capital Markets executed the sales transaction. JLL’s Joe Vaughan and Kristin Hammond will continue to oversee its leasing efforts.
FORT COLLINS, COLO. — Westfield-Harmony LLLP has acquired Harmony Corporate Center, a 190,617-square-foot office building in Fort Collins, for $32 million. The property is located at 2950 E. Harmony Road. The seller was Casa Grande Capital Group, LLC. The transaction was executed by Peter Kast of Realtec, as well as by Gary Hollenbeck of Palmer-McAllister and Mary Frances Cowan of Quantum Commercial Group.
DENVER — RiverRock Real Estate Group has expanded its property management and leasing services into Denver. The firm was recently awarded the management of a 630,000-square-foot of portfolio office and industrial space in and around the metro. RiverRock will oversee the property management and engineering of five properties. It will also add about eight employees to the area.
CHICAGO — The John Buck Co. has formed a joint venture with institutional investors to develop a 36-story office tower in Chicago’s West Loop. The John Buck Co. and its partners, Canada Pension Plan Investment Board and the INDURE Fund managed by National Real Estate Advisors, have agreed to commit $145 million of equity capital to initiate the proposed project called 151 North Franklin. The development would be the first new office project to be delivered in Chicago since 2009, according to The John Buck Co. The project is slated for completion in the third quarter of 2016. Plans call for the 825,000-square-foot tower to offer WiFi throughout the building, 25,000-square-foot floor plates, 10-foot ceiling heights and floor-to-ceiling glass. The design team includes Chicago-based architect John Ronan and Adamson Associates Inc.
NEW YORK CITY — Metro-North Commuter Railroad Co. has signed a 20-year lease covering 265,903 square feet at 420 Lexington Ave. in New York City. Metro-North, a subsidiary of New York’s Metropolitan Transportation Authority, currently occupies 133,503 square feet on the 11th, 12th and 22nd floors of the 30-story, 1.2 million-square-foot property located adjacent to Grand Central Terminal. The 132,400-square-foot expansion will cover the entire 10th floor and portions of the second, third and fifth floors. Josh Kuriloff, Jodi Roberts and David Heller of Cushman & Wakefield Inc. represented Metro-North in the transaction. SL Green was represented in-house.
KATY, TEXAS — The Mission Companies, a construction firm, and management and consulting company Entrust Inc. have completed a two-story, 34,000-square-foot office building in the Houston suburb of Katy. Entrust has leased 69 percent of the Class A property to serve as a new corporate headquarters. Located at 22322 Grand Corner Drive, the 2.62-acre site is situated at the interchange of State Highway 99 and Westpark Tollway, as well as the master-planned communities of Cinco Ranch, Grand Lakes and Seven Meadows. Sam Hansen of NAI Houston is the leasing agent for the remaining suites available at the facility.
FORT COLLINS, COLO. — Westfield-Harmony LLLP has acquired Harmony Corporate Center, a 190,617-square-foot office building in Fort Collins, for $32 million. The property is located at 2950 E. Harmony Road. The seller was Casa Grande Capital Group, LLC. The transaction was executed by Peter Kast of Realtec, as well as by Gary Hollenbeck of Palmer-McAllister and Mary Frances Cowan of Quantum Commercial Group.
DENVER — RiverRock Real Estate Group has expanded its property management and leasing services into Denver. The firm was recently awarded the management of a 630,000-square-foot of portfolio office and industrial space in and around the metro. RiverRock will oversee the property management and engineering of five properties. It will also add about eight employees to the area.
EVERETT, WASH. – The Daily Herald has relocated its headquarters in Everett. The newspaper, which is owned by Sound Publishing, will move to 1800 Forty First Building this March. It is relocating from Commando Road. The newspaper will occupy 15,915 square feet. The two-building property formerly served as the headquarters for Verizon/Frontier Communications. The property was sold earlier this year, though its seller, Frontier, still occupies one of the buildings. The landlord was represented by Daniel Seger,Brent Jacksonand Pat McCabe ofJones Lang LaSallein this lease transaction.
CHICAGO — J.C. Anderson Inc. has completed a 20,000-square-foot office build-out for Rightpoint, a technology consulting firm, at 29 N. Wacker Drive in Chicago. The firm relocated its headquarters from 626 W. Jackson in Chicago to the Windy City’s Central Business District. The move doubled the space for the growing firm, which was founded in 2007. The new office space includes conference rooms, private offices, a pantry area and an open floor plan. Construction also featured millwork finishes, high-end barn doors and exposed ceilings. Joe Maguire was the project executive for J.C. Anderson Inc. Matt Kantro, project manager, and Darrel Panfil, superintendent, also of the firm, led the construction team. Holabird & Root provided the architectural services.