SAN DIEGO — Kilroy Realty Corporation (KRC) has purchased The Heights at Del Mar, a 218,940-square-foot office campus, for $126.35 million. The Class A campus is located at 12770-12790 El Camino Real in the San Diego submarket of Del Mar Heights. The property contains a life science building, as well as a 4.2-acre entitled land parcel that can accommodate an additional 90,000-square-foot office or life science facility. The Heights is anchored by Neurocrine Biosciencese and Knobbe Martens Olson & Bear. These two tenants occupy about 94 percent of the property. Additional tenants include Allen Group Architects, Southwest Value Partners and Backplane. This acquisition represents the largest sale within Del Mar Heights since 2007, according to Rick Reeder and Brad Tecca of Cassidy Turley, who resented both KRC and the seller, Prudential Real Estate, in this transaction.
WASHINGTON, D.C. — Rockrose Development Corp. has purchased the 2000 L Street office building in Washington, D.C.'s central business district from Brookfield Office Properties for $192 million. The eight-story, freestanding asset spans a full city block from 20th to 21st streets N.W. The property is 96 percent leased to 31 tenants. Jim Meisel, Dek Potts, Andrew Weir, Stephen Conley and Matt Nicholson of HFF represented the seller in the transaction.
BOSTON — TripAdvisor has signed a 72,000-square-foot office lease at 226 Causeway St. in Boston’s North Station. Two subsidiaries of TripAdvisor — Smarter Travel and FlipKey — will occupy space on the building’s second, third and sixth floors. The groups will relocate from Charlestown and Boston, respectively, and move in later this year. The lease brings the building to 90 percent occupancy. Michael Joyce, Thomas Ashe and Patrick Buckley of Richards Barry Joyce & Partners LLC represented the landlord in the transaction. The firm is the exclusive commercial leasing agent for 226 Causeway St. Mark Roth of Cushman & Wakefield and Anne Columbia of Columbia Group Realty Advisors Inc. represented TripAdvisor.
IRVING, TEXAS — CBRE has brokered the sale of a 146,538 Class A office complex in Irving, a suburb of Dallas approximately 10 miles west of downtown. Located at 100 East Royal Lane, the complex includes a three-story office wing as well as a two-story telecom/studio wing. The property was 94 percent leased at the time of the sale to tenants such as Fox Sports Net Southwest, Advanced Federal Credit Union and CRM Studios. Eric Mackey, Gary Carr, John Alvarado and Robert Hill of CBRE represented the seller, Capital Commercial Investments Inc. Westdale Real Estate Investment & Management purchased the asset for an undisclosed amount.
THE WOODLANDS, TEXAS — NAI Houston has arranged a lease of 53,000 square feet of Class A office space in The Woodlands for Waste Connection Inc. The tenant will occupy half of the first floor and the entire second and third floors of the property, which totals 11 stories at 3 Waterway Square. Jason Whittington of NAI represented the Waste Connection in the negotiations, while Robert Parsley and Norm Munoz of Colliers represented the landlord, The Woodlands Development Company.
LONG BEACH, CALIF. – A 24,278-square-foot office building in Long Beach has sold to 2H Construction for $3.3 million. The vacant, four-story building is located at 2165 E. Spring Street. The buyer plans to refurbish the property as a build-to-suit. 2H Construction was represented by Matt Stringfellow and Courtney Bell of The Klabin Company/CORFAC International. The sellers, the Lawrence Shields Trust, was also represented by Stringfellow and Bell, along with Kimball Wassick of Cushman & Wakefield.
DALLAS — CBRE has arranged the lease of 104,064 square feet in Dallas for law firm Jackson Walker LLP. The tenant will occupy four floors of the KPMG Plaza at Hall Arts office building, which is located at 2323 Ross Ave. in the Dallas Arts District. Jeff Ellerman and Phil Puckett of CBRE represented Jackson Walker in the negotiations, while landlord Hall Financial Group was represented internally by Kim Butler.
LONG BEACH, CALIF. – A 24,278-square-foot office building in Long Beach has sold to 2H Construction for $3.3 million. The vacant, four-story building is located at 2165 E. Spring Street. The buyer plans to refurbish the property as a build-to-suit. 2H Construction was represented by Matt Stringfellow and Courtney Bell of The Klabin Company/CORFAC International. The sellers, the Lawrence Shields Trust, was also represented by Stringfellow and Bell, along with Kimball Wassick of Cushman & Wakefield.
OAKBROOK TERRACE, ILL. — SIRVA Worldwide has signed a lease for 53,372 square feet of office space at Parkview Plaza in Oakbrook Terrace, a western suburb of Chicago. SIRVA Worldwide, an international provider of relocation and moving solutions is relocating from neighboring town Westmont and will use the space for its global headquarters. One Parkview Plaza is a 263,912-square-foot, Class A building that is 74 percent occupied. Jim Adler, Dan O’Neill and Jud Henry, with NAI Hiffman’s office services team, represented the landlord, TIAA-CREF, in the transaction. Sven Sykes and Rick Morris of Colliers International represented SIRVA.
THE WOODLANDS, TEXAS — The Howard Hughes Corporation (NYSE: HHC) and its wholly owned subsidiary, The Woodlands Development Company, have opened One Hughes Landing, the first office building at Hughes Landing, a 66-acre mixed-use development in The Woodlands. Tenants of the 197,719-square-foot property include Strike LLC, Layne Christensen Co., PetroQuest Energy Inc., Summit Midstream, Sterling Construction, Wells Fargo Bank, GMA Garnet and Post Oak Bank. The developer is pursuing LEED Silver Certification for One Hughes Landing, which is an eight-story Class A tower. The Howard Hughes Corporation plans a total of 11 office buildings plus shopping, dining, entertainment and multifamily properties for the Hughes Landing development.