HOLLYWOOD, CALIF. — A 4,896-square-foot office building in Hollywood that is home to Sunset Edit has sold to a principal of the private editing firm for $2.2 million. It is located at 849 Seward Ave. Sunset Edit provides post-production services to film, TV and music videos. The building was previously occupied by FilmCore. Michael B. Rubin of NAI Capital’s Westlake Village office represented both the buyer and the seller in this transaction.
MIAMI — An investment group led by Miami-based Banyan Street Capital has acquired Brickell Bayview Centre, a 285,595-square-foot office tower in Miami, for $70 million. The buyers also included Boca Raton, Fla.-based Crocker Partners and Independencia, a Chilean investment fund. Brickell Bayview, located at 80 S.W. 8th St., is a landmark 33-story tower in the heart of Brickell's financial district. With 16 stories of structured parking below, the office space starts at the 17th floor. The property is 88 percent leased to 47 tenants. Christian Lee, Charles Foschini, Christopher Apone and Amy Julian of CBRE represented the seller in the transaction. No buyer's representative was involved in the deal.
ROCKVILLE, MD. — Washington Real Estate Investment Trust (WRIT) has sold The Atrium Building, an 80,000-square-foot office building in Rockville, for $15.7 million. The property, built in 1980 and acquired by WRIT in 2002, is located at 6101 Executive Blvd. The buyer plans to relocate its headquarters to the property. WRIT said the sale is consistent with the company's strategy of selling smaller, non-core assets in suburban markets. WRIT achieved a net gain of approximately $3.6 million and an unleveraged internal rate of return of 11 percent over the 10-year holding period.
ROSEMONT, ILL. — United Food and Commercial Workers Unions (UFCW) and Employers Midwest Health and Pension Funds is moving its headquarters from Park Ridge to the Northwest Plaza office complex in Rosemont, a northwest suburb of Chicago. The group has signed a lease for 20,688 square feet of office space. Rick Benoy, senior vice president of Jones Lang LaSalle, represented the building’s owner, a partnership including Fulcrum Asset Advisors LLC. Jon Springer, Paul Diederich and Gary Fazzio of CBRE represented the union benefit plan in the transaction. The Employers Midwest Health and Pension Funds provides health plans and/or pension benefits to full- and part-time UFCW workers in grocery stores, retail stores and nursing homes and in the food processing and meat packing industries. Northwest Plaza is a 328,000-square-foot, Class B office located at 9701-9801 W. Higgins Road.
FALMOUTH, MAINE — American Realty Capital Properties Inc. has purchased an office building occupied by TD Bank in Falmouth, a suburb of Portland, for $31 million. The net-leased, 143,030-square-foot property is located at 200 U.S. Route 1. The three-story building was built in 2001. The estimated capitalization rate of the property is 8.9 percent. Paragon Commercial Real Estate represented the building’s seller, West Falmouth Development LLC, in the transaction.
PLANO, TEXAS — Stream Realty Partners has arranged a new 20,481-square-foot lease for office space in Plano for Marquis Software Solutions. The office space is located at 5160 Tennyson at Denbury Park II in Plano. Denbury Park II is a three-story, 102,600-square-foot office building in Plano's Legacy submarket. Todd Noonan of Stream Realty represented the tenant in the lease transaction. Jeff Ellerman of CBRE represented the sublandlord, Denbury Resources Inc.
HOUSTON — Khoshbin Co. has awarded the leasing and marketing of two office buildings in Houston's North Belt submarket to Transwestern. The two office properties include a 181,647-square-foot, 10-story building at 10700 N. Freeway and a 213,777-square-foot, 12-story building at 333 N. Belt. Khoshbin plans to renovate the office buildings and modernize the building systems and management. Michelle Wogan, Dani Allison and Evelyn Ward of Transwestern's Houston office will market and lease the office buildings.
JACKSONVILLE, FLA. — PKY Deerwood has acquired an eight-building, 1 million-square-foot office portfolio in Jacksonville for $130 million. The properties were built from 1996 to 2005 and are 90 percent occupied. Major tenants include JP Morgan Chase, Fidelity, Comcast, Adecco and Main Street America. Christian Lee, Charles Foschini, Christopher Apon, Amy Julian, Will Yowell and Michael Harrell of CBRE represented the seller, Flagler in the transaction. CBRE also arranged the $84.5 million acquisition loan on behalf of the buyer. The 10-year loan has a fixed interest rate of 3.9 percent.
RALEIGH, N.C. — Continental Capital Management has acquired a three-story, Class A office building at 1500 Sunday Dr. in Raleigh for $8.3 million. Built in 2000, the 61,412-square-foot property is located near PNC Center and Carter Finley Stadium. The building is 97 percent leased and tenants include Hughes, Pittman & Gupton and First Point Management Resources. J. Scott Adams, Ben Kilgore and Brian Carr of CBRE | Raleigh represented the seller, CBL & Associates, in the transaction.
HOUSTON — Buchanan Street Partners, in partnership with CarVal Investors, has acquired a 16-story office building, located at 2100 W. Loop South in Houston's Galleria submarket. The acquisition is Buchanan's third office acquisition in Houston, and second with CarVal Investors, in the last two years. The 165,399-square-foot property is 82 percent leased. Buchanan plans to invest new capital for leasing costs and property upgrades. The building's amenities include a seven-story parking structure, 24/7 security, after-hours card key access and an on-site deli.