SAN ANTONIO — Stream Realty Partners has purchased nearly 17 acres in San Antonio for the construction of a 126,626-square-foot speculative office property to be known as Lockhill Crossing. The five-story, Class A building will be located at 4530 N. Loop 1604 W. and will feature amenities including a fitness facility and outdoor walking trail. Stream plans to break ground on the property before the end of the year. Carolyn Hinchey Shaw and Ryan Harrison of Stream will lead leasing efforts during development and after completion.
Office
HOUSTON — Marcus & Millichap has brokered the sale of a 27,725-square-foot office building in Houston’s inner loop. Situated on a corner parcel of 1.56 acres at the intersection of Bissonnet Street and Wakeforest Avenue, the property houses a variety of smaller tenants. Derek Hargrove of Marcus & Millichap represented the seller, Beltika LLC, in the transaction. Hargrove also secured the buyer, a developer.
PHOENIX — Matrix Absence Management has moved its U.S. headquarters to Desert Canyon 200 in Phoenix. The space is located at 2421 W. Peoria Ave. The employee benefits management company has leased 65,502 square feet at the Desert Canyon Campus. It was previously based at the nearby Lakeside Center. Matrix will occupy a space that was vacated by American Express. It is currently undergoing renovations and should be ready for occupancy next spring. Matrix, a subsidiary of the Tokio Marine Group, was represented by Steve Corney of Jones Lang LaSalle’s Phoenix office. The landlord, REEF Desert Canyon, LLC, was represented by Jim Bayless, Ashley Brooks and Jenny Aust of CBRE’s Phoenix office.
SANTA MONICA, CALIF. — Science, Inc., has signed a 45-month lease for 16,220 square feet of space in Santa Monica. The 24,578-square-foot building is located at 1447 2nd Street. The building is now fully occupied. The technology incubator and investor is relocating and expanding from its 10,000-square-foot office that’s just steps away at 1410 2nd Street. The new space was previously occupied by Hydraulx. Science, Inc., was represented by Randy Starr and Tim Dornan of Avison Young. The landlord, Beitler Commercial Realty Services, represented itself in this transaction.
SAN DIEGO — Drawbridge Realty Trust has acquired the Discovery Corporate Center Building A in San Diego for $36.5 million. It is located at 16340 West Bernardo Drive in the Rancho Bernardo submarket. The 90,610-square-foot, Class A building is fully leased to Broadcom Corporation. Drawbridge now owns three of the four buildings that comprise the 318,235-square-foot Discovery campus. The company is focused on acquiring well-located properties leased to major corporations in markets with positive absorption and job growth. The seller was Menlo Equities.
NASHVILLE, TENN. — Cushman & Wakefield | Cornerstone’s healthcare practice group has arranged a 109,751-square-foot office lease at Burton Hills Office Park in Nashville’s Green Hills submarket. The building is under development and is expected to be delivered in 2015. AmSurg Corp. is leasing space in the three-story building, which will feature three levels of underground parking. The new space will house 350 of AmSurg’s employees and will eventually serve as the firm’s corporate headquarters. Dick Fleming, Terry Smith, Ben Burns and Henry Trost of Cushman & Wakefield | Cornerstone represented AmSurg in the transaction.
ST. LOUIS — Tryperion Partners has acquired a 637,000-square-foot, Class A office portfolio totaling six properties located throughout suburban St. Louis. The portfolio is more than 90 percent leased under long-term leases and includes the national headquarters for Energizer Holdings and Panera Bread, along with the regional headquarters for Equifax and New Balance. The acquisition was completed in two separate transactions. The first consisted of two buildings totaling 252,000 square feet in the Maryville Centre office campus located in Town & Country, about 18 miles west of St. Louis. John Hancock Life Insurance Co. provided the acquisition financing for the two buildings. The second transaction included four buildings totaling 385,000 square feet in Sunset Hills and Maryland Heights. Wells Fargo provided the acquisition financing for the buildings. Tryperion has retained Tom Ray and Art Kerckhoff of CBRE as listing agents for the Maryville assets, and Jay Holland and Piers Pritchard of Cassidy Turley as listing agents for the Sunset Hills and Maryland Heights assets. CBRE will manage the portfolio.
SAN DIEGO — Drawbridge Realty Trust has acquired the Discovery Corporate Center Building A in San Diego for $36.5 million. It is located at 16340 West Bernardo Drive in the Rancho Bernardo submarket. The 90,610-square-foot, Class A building is fully leased to Broadcom Corporation. Drawbridge now owns three of the four buildings that comprise the 318,235-square-foot Discovery campus. The company is focused on acquiring well-located properties leased to major corporations in markets with positive absorption and job growth. The seller was Menlo Equities.
DALLAS — Parmenter Realty Partners has acquired The Tower at Cityplace, a 1.3 million-square-foot office building approximately one mile north of the Arts District in downtown Dallas. Located at 2711 N. Haskell Ave., the 42-story property was constructed in 1988 and offers close proximity to the upscale neighborhoods of Highland Park and West Village. The Tower at Cityplace features a 35,000-square-foot fitness center and spa, conference center with amphitheater and covered walkway to restaurants and additional amenities. Parmenter, which purchased the asset as the final property of Parmenter Realty Fund IV, will implement a capital improvement program for the building’s common areas. GE Capital provided financing for the deal, while Andrew Levy, Todd Savage and Elizabeth Malone at HFF represented the seller.
BEDFORD, TEXAS — Bradford Commercial has brokered the sale of a 43,428-square-foot office asset in Bedford, a suburb approximately 15 miles northeast of Fort Worth. The two-story, Class B building, located at 1320 Tennis Drive, previously housed restaurant software developer Aloha POS. Originally developed in 1981 as a health club, the property features amenities including a basketball court, two racquetball courts, commercial kitchen and covered swimming pool. Karen Simon and Erik Blais of Bradford represented the seller, Sapience Partners Ltd., in the all-cash transaction. Josh Born of Keep Real Estate Holdings LLC represented the buyer, a financial services company that will use the facility as its new headquarters.