WAYNE, PA. — The Davis Cos. and MIM-Hayden Real Estate Funds plan to invest $16 million in building renovations to redesign two existing buildings at 530 and 580 E. Swedesford Road in Wayne. The owners plan to transform the property into 272,000 square feet of trophy-class office space known as CrossPoint at Valley Forge. CrossPoint will feature a conference center, 4,000-square-foot fitness center and a full-service cafe. Construction will begin this fall.
NEW YORK CITY — Stack Exchange Inc. has signed an 11-year lease for 30,200 square feet at 110 Williams St. in New York City. Stack Exchange is a network of question-and-answer websites that focus on specific categories such as cooking and photography. The company will occupy the 27th and 28th floors of the building. Jonathan Dean of Swig Equities and Bill Stempel of McDermott Will & Emery LLP represented the landlord in the transaction.
MINNEAPOLIS — mono, a creative branding agency, has signed a 20,400-square-foot lease at Mozaic, a new development in Minneapolis by The Ackerberg Group. Mozaic includes 65,000 square feet of office space. With the new lease signing, the building is currently 57 percent leased to four tenants. Tony Weinstein of Marquee Real Estate Advisors represented mono in the transaction.
NEW YORK CITY — Amazon Corporate LLC has expanded at 1350 Avenue of Americas, increasing its space to 92,493 square feet at the 35-story tower on the corner of West 55th St. The expansion includes 24,707 square feet. 1350 Avenue of Americas has recently undergone renovations that include a new lobby, upgraded security and new common corridors. Justin Halpern and Marcus Reyner of Cresa Partners represented the tenant in the transaction. Howard Tenenbaum and Gary Rosen represented the building owner, SL Green.
MIAMI — Miami Dade College (MDC) has acquired the 175,000-square-foot InterAmerican Plaza, an office building located at 701 SW 27th Ave. in Miami, for $25 million. The 14-story property is adjacent to MDC's InterAmerican Campus. Adam Lustig of Bilzin Sumberg Baena Price & Axelrod represented Shavuot, the seller, in the transaction. Hank Klein of Blanca Commercial Real Estate, along with Frank Kohn of Ashlin Group, represented the buyer.
HOUSTON — Younan Properties, along with joint venture partner Passco Cos., has sold its 272,113-square-foot Younan West Loop South, a Class A high-rise office tower attached to the Marriott Hotel in Houston's West Loop district. The buyer was Salt Lake City-based ROC Bridge Partners. Darrell Betts of Avison Young represented Younan in the transaction.
LEAGUE CITY — Marcus & Millichap has arranged the $5.25 million sale of The Lakes Professional Center, a 24,240-square-foot office property located at 6455-6465 S. Shore Blvd., Suite 400 in League City. Tanner McGraw of Marcus & Millichap's Houston office represented the buyer, a private investor, in the transaction.
SANTA MONICA, CALIF. — CIM Group has purchased Lincoln Place, a Class A office building in Santa Monica. The 37,572-square-foot building was constructed in 1990 at 725 Arizona Ave. The firm has made other investments in the area, including 11600 and 11620 Wilshire Blvd. in Brentwood, and 150 and 151 El Camino Drive in Beverly Hills.
ANAHEIM, CALIF. — Younan Properties has purchased the Anaheim Corporate Center in Anaheim. The acquisition marks the firm’s re-entry into Orange County and will allow it to expand its Southern California presence. Younan notes it is targeting a few more transactions before year’s end. The seller, LNR Partners, was represented by Michael Lawrence of Marcus & Millichap.
SILVER SPRING, MD. — A joint venture between Brandywine Realty Trust and Current Creek Investments, a subsidiary of Allstate Insurance Co., has entered into an agreement to acquire three office properties totaling 499,395 square feet, located in Silver Spring, for $120.6 million. The properties include the 162,832-square-foot 1100 Wayne Ave., the 196,663-square-foot 1010 Wayne Ave., and the 139,900-square-foot 8484 Georgia Ave. The seller is a joint venture between Urdang's Value-Added Fund II and Moore&Associates. The acquisition is slated to close in July.