PLANO, TEXAS — KDC, a commercial real estate development and investment firm, has sold its remaining interest in The Campus at Legacy to its equity partners Spear Street Capital. The Campus at Legacy, a 107-acre, multi-tenant corporate campus in Plano, is currently 98 percent leased to tenants such as Denbury Resources, PepsiCo, St. Jude Medical, Bear Transportation, Futurewei Technologies, Dr. Pepper Snapple Group Inc., Lifecare, North American Coal Corp., World Ventures and Rent-A-Center.
AUSTIN, TEXAS — Bigcommerce, an e-commerce platform for small- and medium-sized businesses founded in Sydney, Australia, has signed a 33,000-square-foot office lease at 11305 Four Points Drive at FM 2222 and RM 620 in Austin. The company plans to move its 120 employees into the office space in April. Bigcommerce is working with lauckgroup, an architecture firm, and general contractor Balfour Beatty to renovate the office building, which is LEED Gold certified. The new office will feature indoor swings, an espresso bar, casual meeting spaces, a games room, built-in kegerators and two functional interior garage doors to expand meeting/office space. The Austin office is the company's North American headquarters.
SEAL BEACH, CALIF. — Bixby Office Park, a 297,241-square-foot complex in Seal Beach, has sold to Parallel Capital Partners for $85 million. The acquiring entity was PCPI BIXBY, LP. The three-building park is located at 3001-3005, 3010, 3020 and 3030 Old Ranch Parkway. It is currently 98 percent leased. Notable tenants include Baker Corp., SAIC, Olson Urban Housing, Seagate Offices and Clean Energy Fuels Corp. Parallel Capital Partners represented themselves in this transaction, while the seller, a large national insurance company, was represented by Adam Edwards and K.C. Scheipe of Eastdil Secured.
JOLIET, ILL. — WAP LLC has purchased a 12,551-square-foot office building for $1 million in Joliet, located about 40 miles southwest of Chicago. The two-story building, which offers medical office space, parking and easy access to I-80, was sold by Houbolt LLC. The building is located at 370 Houbolt Road. Adam Johnson of NAI Hiffman represented Houbolt LLC in the transaction.
NORWALK, CONN. — Houlihan-Parnes Realtors LLC and Q10 Realty Advisors LLC have arranged a $2.3 million mortgage on 83 East Ave., a 40,000-square-foot office and medical building in Norwalk. The property is undergoing capital improvements including a new lobby, bathrooms, elevators, landscaping, exterior lighting and painting. The office building is home to 18 tenants and is managed and leased by GHP Office Realty. The interest-only loan was placed with a local bank at an interest rate of 4.25 percent for a two-year term and an option to extend. Bryan Houlihan and James Houlihan of Houlihan-Parnes arranged the loan. Ray Cohen of Chicago Title arranged the title. Robert Ocko of Harrington, Ocko & Monk LLP represented the borrower.
LEWISVILLE, TEXAS — Greenville, S.C.-based CapHarbor Property Management has awarded Cushman & Wakefield of Texas Inc. the leasing assignment for Vista Ridge I and II in Lewisville. Vista Ridge is a pair of two-story, 121,200-square-foot office buildings located at 700 and 750 State Highway 121 Bypass. The buildings are fully leased to long-term tenants including STA Travel and Parago Inc. Matt Schendle and Cynthia Cowen of Cushman & Wakefield will oversee leasing.
SEAL BEACH, CALIF. — Bixby Office Park, a 297,241-square-foot complex in Seal Beach, has sold to Parallel Capital Partners for $85 million. The acquiring entity was PCPI BIXBY, LP. The three-building park is located at 3001-3005, 3010, 3020 and 3030 Old Ranch Parkway. It is currently 98 percent leased. Notable tenants include Baker Corp., SAIC, Olson Urban Housing, Seagate Offices and Clean Energy Fuels Corp. Parallel Capital Partners represented themselves in this transaction, while the seller, a large national insurance company, was represented by Adam Edwards and K.C. Scheipe of Eastdil Secured.
RENTON, WASH. – A 70,100-square-foot, Class A office building in the Seattle submarket of Renton has sold to Griffin Capital Net Lease REIT for $12 million. The building is fully leased to Boeing Capital Corporation. The property is adjacent to other Boeing facilities, including the Longacres Campus, Boeing Airfield and its 737 Assembly Plant. The building has served as Boeing’s global headquarters since 1997.
SUNNYVALE, CALIF. – A 107,000-square-foot, Class A office building has broken ground at the Sunnyvale Business Park. This will be the 10th building at the park, which is located at Mathilda and Evelyn avenues in Sunnyvale. The spec building is striving for LEED-Gold certification. It is being developed by Principal Real Estate Investors. Legacy Partners, the park’s property manager, is also providing development services. Dave Sandlin, Susan Gregory, and Kevin Moul with Colliers serve as the listing agents. The building is being designed by Ware Malcomb and built by Lusardi Construction.
BETHESDA, MD. — A joint venture between MRP Realty and Rockpoint Group has secured a $150 million acquisition loan for the Air Rights Center, a 688,717-square-foot office development in Bethesda. The development includes three buildings in the north, east and west towers. The property is 93 percent leased to a diverse tenant base. John Campanella and Paul Spellman of Cassidy Turley represented the joint venture in securing the loan, which was provided by a commercial bank.
