CHARLOTTE, N.C. — New Boston Fund has secured four new leases and renewed two existing tenant leases, totaling 74,180 square feet, at Harris Corners Corporate Park in Charlotte. The leases bring the occupancy rate at Harris Corners to 90 percent. Monumental Life, North American Transmission Forum, Wood Forest National Bank and THR Property Management will each be moving to Harris Corners this spring. In addition, Bank of America renewed its lease for three years. Polymer Group also renewed its lease and expanded by an additional 10,065 square feet. New Boston acquired Harris Corners in 2011, and the park consists of two five-story buildings and one four-story building. Charlie Swanson of Beacon Partners represented New Boston in each of the transactions. Amy Fleming Powell of Lincoln Harris LLC represented Bank of America; Chase Monroe and Bryan White of Jones Lang LaSalle represented Polymer Group; Allan Schwender of SA Commercial represented Monumental Life; and Christy Nine of Cresa represented THR.
Office
MIAMI BEACH, FLA. — Cabi 301 Commercial has acquired 301 Arthur Godfrey Road, a six-story office building anchored by HSBC Bank in Miami Beach, for $15.1 million. The property is located along Miami Beach's “Banker's Row” and is fully occupied by a mix of diverse tenants. The one-acre site also includes a parking lot. Hermen Rodriguez, Ike Ojala, Manuel de Zarraga and Jorge Portela led the HFF team that represented the seller in the transaction. The buyer was a private investment firm.
CHICAGO — Futures broker Advantage Futures LLC has signed a 10-year lease for 41,500 square feet of office space at 231 S. LaSalle St. in Chicago’s financial district. Chicago-based Advantage will move from its 28,500-square-foot office, located at 141 W. Jackson Blvd., later this month. In addition, Advantage will retain its Business Continuity/Disaster Recovery Center in Downers Grove, Ill. as well as 10 data centers ensuring redundant connectivity and server colocation facilities.
CAMBRIDGE, MASS. — Boston Realty Advisors has arranged the sale of 39 JFK St., a landmark 20,570-square-foot retail and office building located in Cambridge’s Harvard Square, for $33.1 million. The mixed-use property was fully occupied at the time of sale. Tenants of the building include American Express, CVS/pharmacy, Kaplan, Whitney’s Café and Leo’s Place. Boston Realty Advisors represented the seller, 39 JFK LLC, and procured the buyer in the transaction.
MIAMI — Blanca Commercial Real Estate has been named the exclusive leasing agent for The Building on Ponce Circle, a 58,000-square-foot, Class A office building at 2990 Ponce de Leon Blvd. in Miami's Coral Gables business district. AJP Ventures developed the building in 2012 on behalf of a joint venture between Mas Group of Cos. and TAZ Partners LLC. The property is 62 percent occupied and tenants include Zubi Advertising, Mas Group of Cos., FirstBank Florida and LBI Media. The property includes floor-to-ceiling windows, an on-site bank and drive-thru teller and a rooftop terrace. Tere Blanca and Alison Pages of Blanca Commercial Real Estate will lead the marketing and leasing of the property.
HAWTHORNE, N.Y. — Houlihan-Parnes Realtors LLC has purchased the Skyline Plaza office building, located at 37 and 37A Saw Mill River Road in Hawthorne, for $2 million. The office property includes a 20,575-square-foot, three-story building built in 1984 and an attached 2,608-square-foot, two-story building. Together, the two buildings include 12 tenant spaces and 86 parking spaces. The property was 50 percent occupied at the time of sale. Craig Weitz and Jerry Houlihan of Houlihan-Parnes Realtors negotiated the purchase of the property from a local bank, which also provided financing with a five-year mortgage.
EL SEGUNDO, CALIF. – A 112,695-square-foot office building in El Segundo has sold to a joint venture between Bixby Land Company and Cornerstone Real Estate Advisers, LLC for an undisclosed sum. Cornerstone worked on behalf of an institutional investor. The five-story building is located at 2101 El Segundo Blvd. The JV plans to invest $10 million to reposition and lease the building to stabilization. It was completely vacant at the time of sale. Shubin + Donaldson Architects will design the new contemporary work environment. Bixby represented itself in this transaction, while the seller, The Krausz Companies, was represented by CBRE’s Bill Bloodgood.
AUSTIN, TEXAS — TPG/CalSTRS Austin LLC, an affiliate of Los Angeles-based Thomas Properties Group Inc., has sold three office properties in northwest Austin for $76 million. The office properties, which total 517,974 square feet, include Westech 360, Park Centre and Great Hills Plaza. The transaction is in line with Thomas Properties Group's strategy to dispose of its suburban office assets and concentrate on the ownership and operation of office properties in highly sought-after submarkets.
EL SEGUNDO, CALIF. – A 112,695-square-foot office building in El Segundo has sold to a joint venture between Bixby Land Company and Cornerstone Real Estate Advisers, LLC for an undisclosed sum. Cornerstone worked on behalf of an institutional investor. The five-story building is located at 2101 El Segundo Blvd. The JV plans to invest $10 million to reposition and lease the building to stabilization. It was completely vacant at the time of sale. Shubin + Donaldson Architects will design the new contemporary work environment. Bixby represented itself in this transaction, while the seller, The Krausz Companies, was represented by CBRE’s Bill Bloodgood.
CULVER CITY, CALIF. – A 30,000-square-foot industrial building in Culver City has sold to a joint venture between Industry LTD and Saber Realty Advisors for $8 million. It is located at 5900 Blackwelder Street. The JV plans to execute a multimillion-dollar capital improvement project at the facility to convert it into creative office space. The conversion will include the addition of 10,000 square feet of new mezzanine space. The seller was owner-user Burke Williams Spa. Industry Partners will handle leasing for the space.