CERRITOS, CALIF. — Cerritos Corporate Center, a 460,356-square-foot industrial business park, has sold to Angelo Gordon for $42.5 million. Gordon worked in partnership with Crowsnest Properties. The center is located at 13810-13950 Cerritos Corporate Drive in Cerritos. The institutional-quality business park is composed of seven free-standing buildings on three parcels. It is currently 95 percent leased. The seller, The Abbey Company, was represented by CBRE’s Kevin Shannon, Darla Longo, Barbara Emmons, Scott Schumacher, Rick McGeagh and John Biven.
Office
CHAMPAIGN, ILL. – Sperry Van Ness/Ramshaw Real Estate has arranged the $2 million sale of 202 West Park, a 26,000-square-foot office building in downtown Champaign. Community Elements sold the property to Hickory Point Bank & Trust. Jerry Ramshaw of Sperry Van Ness/Ramshaw Real Estate represented the seller in the transaction.
BLOOMFIELD HILLS, MICH. — Bernard Financial Group has arranged a $1 million loan for Bloomfield Boulevard Office Building. The 19,157-square-foot office property is located in Bloomfield Hills, about 25 miles north of Detroit. Bloomfield Blvd. LLC was the borrower. Kevin Kovachevich of Bernard Financial originated the loan. Symetra Life Insurance Co. served as the lender.
PEARLAND, TEXAS — Marcus & Millichap has brokered the sale of Sunrise Lake Center, a two-building office portfolio in Pearland, approximately 15 minutes south of downtown Houston. The asset commanded a list price of $4.6 million. The properties include a four-story, 37,243-square-foot office tower and a 34,983-square-foot professional building located at 9307 and 9223 Broadway Street, respectively. Jerry Goldstein of Marcus & Millichap’s Houston office represented the seller, a financial institution, and also secured the buyer.
SANFORD, FLA. — NAI Realvest has secured the $1.1 million sale of a second-floor office condominium at 5739 Byron Anthony Place in Sanford, about 25 miles north of Orlando. The condominium is located in Savannah Park at Heathrow near International Parkway and State Road 46. Paul Partyka of NAI Realvest represented the seller, Home Office Holdings LLC, in the transaction. The buyer was 5739 BAP LLC d/b/a Xcel Media. Xcel Media will operate its headquarters in the Savannah Park at Heathrow property.
SCHAUMBURG, ILL. — Cushman & Wakefield has arranged the lease of 250,000 square feet in the northwest Chicago suburb of Schaumburg, Ill., for 3D Exhibits Inc. The tenant specializes in exhibit design, building and management; special events planning; and trade show and event marketing, and will use the facility as its new headquarters. Christopher Lydon and Britt Casey of Cushman & Wakefield represented 3D Exhibits in the transaction, while Rick Daly and Adam Haefner of Darwin Realty represented the landlord, an institutional pension fund advisor.
PARSIPPANY, N.J. — Colliers International has arranged leases of more than 26,000 square feet of office space in northern and central New Jersey. The transactions include The Western Institutional Review Board leasing 7,048 square feet at 202 Carnegie Center in Princeton. Kevin Coleman of Colliers International represented the tenant, and Boston Properties represented the landlord, Princeton 202 Associates Limited Partnership. Bryn Cinque and James Bailey of Colliers represented HNTB Corp. in its 7,026-square-foot lease at 1 Gateway Center in Newark. Advance Realty is the landlord of the property. Cinque, Bailey and Jay Kyle of Colliers International represented Crown Castle USA Inc. in its 6,451-square-foot lease extension at 1200 MacArthur Blvd in Mahwah. MRH Real Estate Services represented the landlord, Marcon Mahwah LLC. Cinque, Baily and Leslie Meril of Colliers International represented the landlord, Normandy Real Estate Partners, in its lease deal with HealthLogix at 99 Cherry Hill Road in Parsippany. Harlan Hollander of Cushman & Wakefield represented the tenant in its 6,223-square-foot lease extension.
AUSTIN — SouthStar Communities, a residential real estate development company, will relocate its corporate headquarters to Austin. The firm is known for master-planned communities throughout the Southern U.S., including Vintage Oaks in New Braunfels, the fastest-growing neighborhood in the 25-county South-Central Texas Hill Country region. SouthStar’s new office is located near the intersection of Highway 360 and Bee Cave Road.
PARK CITY, UTAH — Summit Center, an 83,000-square-foot retail and office complex in Park City, has sold to Kai’Ohu Summit for an undisclosed sum. This is Kai’Ohu’s first commercial acquisition in Utah. The six-building center is located at 2700 Rasmussen Road. It is home to tenants like EMC2, iSchool Campus, and CrossFit Park City. The transaction was executed by Bryce Blanchard of Newmark Grubb ACRES.
IRVING — Chambers Street Properties has acquired Carpenter Corporate Center I and II, a two-building office property totaling 226,822 square feet in the Las Colinas master-planned development of Irving, located 10 miles west of Dallas. The buildings, both leased to a subsidiary of a major healthcare company on a long-term lease, offer an on-site café, fitness center and parking for 1,107 vehicles. With the purchase, Chambers Street now holds three office assets in the Dallas/Fort Worth Metroplex.