TEMPE, ARIZ. – A 118,355-square-foot office property in Tempe has sold to ViaWest Group for $3 million. It is located at 8375 River Parkway in ASU Research Park. The property is fully occupied by NXP Semiconductors and Wells Fargo. ViaWest plans to renovate the building once current leases expire. The seller, Blue Vista Capital Partners, was represented by Mark Detmer and Bo Mills of Jones Lang LaSalle and Don Rodie of Cushman & Wakefield.
POWAY, CALIF. – Jinx has leased 32,500 square feet at Poway Tech Center. The building is located at 13465 Gregg Street in Poway. The Internet-based clothing and accessories company will occupy the building around September. The transaction was executed by Brian Mulvaney and Matthew Bean of Voit Real Estate Services’ San Diego office.
EL SEGUNDO, CALIF. – A 198,532-square-foot office building in El Segundo has sold to Menlo Equities for an undisclosed sum. The building is located at 101 North Sepulveda. It is 89 percent leased to Federal Express and International Rectifier. The seller, a global investment manager, was represented by HFF’s Michael Ross, Paul Brindley, Richard Plummer and Andrew Harper.
LAUDERHILL, FLA. — CB Richard Ellis (CBRE) has brokered the sale of Executive University Courts, a distressed office property located in Lauderhill, for $5.3 million. The 102,120-square-foot, Class B property is situated at 4300 N. University Drive. It comprises six interconnected two-story buildings surrounding a landscaped courtyard with a water feature. The campus was constructed in 1987 and renovated in 1999. Occupancy was 62 percent at the time of closing. The CBRE team of Scott O’Donnell, Dominic Montazemi and Miguel Alcivar represented both the seller, 4300 Lauderhill LLC, and the buyer, KAS Partners LLC. The buyer also enlisted CBRE to lease the property. Deborah Fink is handling the assignment.
SCHAUMBURG, ILL. — Sun Life Assurance Co. of Canada has renewed its 13,246-square-foot lease at 3120 N. Plum Grove in Schaumburg. The 72,461-square-foot flex building is 86 percent occupied and includes a drive-in door with storage rooms and 18-foot clear ceiling heights. Michael Flynn, executive vice president, and Jason Wurtz, vice president, of NAI Hiffman’s office services group represented Sun Life Assurance Co. of Canada in the transaction. Jordan Rovito of Cushman & Wakefield represented the landlord, Innovative Marketing Solutions.
NEW YORK CITY — Real estate private equity firm Savanna has signed Real Estate Arts Inc. to a new lease at 31 Penn Plaza in New York City. Real Estate Arts will occupy approximately 6,822 square feet on a portion of the sixth floor for a 10-year term. Mitchell Konsker, Matthew Astrachan and Matthew Polhemus of Jones Lang LaSalle represented Savanna in the lease transaction. Michael Hirsch and Benjamin Friedland of CBRE represented the tenant.
NEW YORK CITY — Massey Knakal has sold a development site for $4.2 million at 401 State St., between Bond and Nevins streets in Brooklyn’s Boerum Hill neighborhood. The four-story building is configured as office space and spans approximately 18,000 square feet. Bob Knakal of Massey Knakal handled the transaction with Stephen Palmese.
DALLAS AND GAITHERSBURG, MD. — KBS Real Estate Investment Trust III has closed on a $269 million purchase of three office properties: Preston Commons and Sterling Plaza in Dallas, and One Washingtonian in Gaithersburg. The purchase is KBS REIT III’s largest transaction to date. Preston Commons is a three-building, Class A complex with 427,799 square feet of rentable space covering 6.33 acres. Sterling Plaza is a Class A, LEED Silver-certified property with 313,609 square feet of rentable space. Preston Commons and Sterling Plaza are both currently 86 percent occupied and located in Dallas’ Preston Center neighborhood. One Washingtonian is a Class A, LEED Platinum-certified tower with 321,007 square feet of rentable space. The property is currently 94.9 percent occupied and is located on the west side of Interstate-270 in Gaithersburg. The complex is part of Washingtonian Center, a 212-unit mixed-use project that includes restaurants, shops, hotels and offices. CBRE’s Russel Ingrum led the portfolio sale with local assistance in Dallas by Gary Carr and in Maryland by Bill Kaye and Ryan Clutter, all with CBRE. KBS REIT III purchased the properties from affiliates of CBRE Global Investors.
HOUSTON — NAI Houston has been selected to market an 88,705-square-foot corporate headquarters-style facility, located at 8787 Tallyho Road in Houston’s Gulf Freeway submarket. The property is comprised of three office buildings connected by interior walkways and is situated on 12-acres of land. Building amenities include a data center with back-up generators, offices, open-areas, cafeteria, boardroom, kitchen areas and an 8/1,000-square-foot parking ratio. NAI Houston’s Dan Boyles Jr. and Liz Westcott-Brown will be the leasing/sales agents for the property.
FRISCO, TEXAS — Hall Financial Group, owner and landlord of the 162-acre Hall Office Park in Frisco, has signed leases with four new companies within the complex. The Old Republic Title Insurance Group (ORTIG) has signed a new lease for 3,290 square feet at 6801 Gaylord Parkway. Jill Arias with DZT represented ORTIG in lease negotiations. Advanced Microbial Solutions LLC has signed a new lease for 3,251 square feet at 2600 Network Blvd. Rhonda Martin of The Commercial Connection represented Advanced Microbial Solutions in the lease transaction. Medical Management Professionals Inc. has signed a new lease for 1,695 square feet at 2591 Dallas Parkway. Brad Mason of Jackson Cooksey represented MMP in negotiations. Basic Contracting Services Inc. has leased office space at 2600 Network Blvd. for its corporate headquarters. Kim Butler, Tammy Nellis and Brad Gibson represented Hall Financial Group in-house in all four lease deals.