Office

IT SERVICES COMPANY SIGNS 167,691 SF BUILD-TO-SUIT DEAL IN CONNECTICUT

by admin August 13, 2012

NORWALK, CONN. — Cervalis has signed a long-term lease for a 167,691-square-foot data and disaster recovery center to be built at 10 Norden Place in Norwalk. Landlord Fortis Property Group will construct the Class A office building. However, a timeline of the project was not provided. Brokers in the deal state that the data center is the largest build-to-suit project in Fairfield County in 12 years. Howard Greenberg of Howard Properties and John Stoddard of Jones Lang LaSalle represented the tenant in the transaction. Jodie Dostal of Cushman & Wakefield represented the landlord. Cervalis, an IT services vendor, currently occupies more than 300,000 square feet of data storage facilities in New York, New Jersey and Connecticut.

August 13, 2012

TECHNOLOGY CENTER ONE, TWO IN HILLSBORO SELL FOR $7M

by admin August 13, 2012

HILLSBORO, ORE. – Technology Center One and Two, a pair of office and technology buildings in Hillsboro, has sold to Watumull Properties Corp. for $6.9 million. The buildings contain a total of 95,000 square feet located in the city’s Sunset Corridor. Keith Young of Kidder Mathews represented both the buyer and the seller, BH Properties, in this transaction. Young and Joshua Swartz, also of Kidder Mathews, have been selected to fill the centers’ remaining vacancies.

August 13, 2012

Office Western

CARLSBAD OFFICE BUILDING RECEIVES $10.2M

by admin August 10, 2012

CARLSBAD, CALIF. – A 75,160-square-foot, Class A office building in Carlsbad has received $10.2 million in financing. The building is located at 5791 Van Allen Way. It was built in 1999 and is fully leased on a triple-net lease basis to Life Technologies. The loan was arranged for Mararisk Carlsbad, LLC by Mararisk Carlsbad, David Bleiweiss and John Chun of HFF.

August 10, 2012

Office Texas

COUSINS ACQUIRES OFFICE BUILDING FOR $59.2 MILLION

by admin August 9, 2012

DALLAS — Atlanta-based Cousins Properties has acquired 2100 Ross Avenue, an 844,000-square-foot, Class A office building located in Dallas' Art District, for $59.2 million at a foreclosure auction. The building is 67 percent leased to tenants such as CBRE Group, Prudential Mortgage Capital and Bank of America Merrill Lynch. The building is located adjacent to the new 5.2-acre Clyde Warren Park, which is slated to open in October.

August 9, 2012

Office Texas

GRANITE, HOAR BREAK GROUND ON BRIARPARK GREEN

by admin August 9, 2012

HOUSTON — Granite Properties and Hoar Construction have begun construction of the 300,000-square-foot Briarpark Green, a 12-story, Class A office building located at 3151 Briarpark in Houston's Westchase district. PGAL has designed the building to LEED Gold standards. The property is currently speculative and Granite Properties is providing construction financing. The building will have wood paneling, blown-glass fixtures and elevators with in-cab televisions. The property will also include a 361,000-square-foot, six-story parking garage. The building is slated for a September 2013 completion.

August 9, 2012

Office Western

SUN LIFE ASSURANCE BUYS 660 MARKET STREET IN SAN FRANCISCO

by admin August 9, 2012

SAN FRANCISCO – Sun Life Assurance of Canada has purchased 660 Market Street, a 52,842-square-foot office building in San Francisco. The building features ground-floor retail along the Market Street Corridor. The seller, Union Property Capital and Heitman, was represented by Tony Crossley, Tim Maas and Erik Hanson of Colliers’ San Francisco Investment Services Group.

August 9, 2012

Office Western

OAK TREE ENERGY SYSTEMS LEASES 7,526 SF AT LA TERRAZA CORPORATE PLAZA

by admin August 9, 2012

ESCONDIDO, CALIF. – Oak Creek Energy Systems has leased 7,526 square feet at La Terraza Corporate Plaza in Escondido. The seven-year lease is valued at $1.44 million. The 78,477-square-foot, Class A office building is located at 500 La Terraza Blvd. Oak Creek was represented by Joseph Portelli of Marubeni America Corporation and in-house by Carina Leegaard. The landlord, Cypress La Terraza, LLC, was represented by CBRE’s Larry Cambra and Dan Yielding.

August 9, 2012

Office Southeast

BANYAN STREET BUYS TOWER 101 FOR $28.7M

by admin August 8, 2012

FORT LAUDERDALE, FLA. — Banyan Street has acquired the 230,238-square-foot Tower 101, a two-building office property located in Fort Lauderdale, from Cap Advisors and Principal Real Estate Investors for $28.7 million. The 21-story tower is 68 percent leased. Christian Lee, Charles Foschini, Jose Antonio Lobon, Deanna Lobinsky and Travis Herring of CBRE Group represented the seller in the transaction. Additionally, CBRE secured $19 million in acquisition financing through Banco Sabadell.

August 8, 2012

Northeast Office

SYNERGY ACQUIRES $30.8M BOSTON OFFICE PORTFOLIO

by admin August 8, 2012

BOSTON — Synergy Investments has purchased a four-building office portfolio in Boston's Downtown Crossing and the Financial District for $30.8 million. The 138,851-square-foot portfolio includes 184 High St.; 71 Summer St.; 77 Summer St.; and 87 Summer St. David Ross and Gina Barroso of NAI Hunneman represented the seller, Centurion Realty LLC, in the transaction. They also procured the buyer.

August 8, 2012

Office Western

NEW RELIC LEASES 19,482 SF AT US BANCORP TOWER

by admin August 8, 2012

PORTLAND, ORE. – New Relic has leased 19,482 square feet at the US Bancorp Tower in Portland. The new space will allow the company to expand and relocate from the nearby Commonwealth Building this November. New Relic will initially house a 45-person engineering team at the new facility, but eventually plans to grow its presence to about 200 employees. The tenant was represented by Jake Lancaster of Jones Lang LaSalle’s Portland office. The landlord, Unico Properties, was represented by Joe Vaughn, also of JLL.

August 8, 2012

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