PHOENIX – Jones Lang LaSalle has expanded its Phoenix-based office space by 35 percent, and named Pat Williams as head of the firm’s tenant representation broker team. The new office will occupy 11,934 square feet at 3131 E. Camelback Rd. in Phoenix. Williams is an 11-year industry veteran who will head the Jones Lang LaSalle's Phoenix tenant representation team.
Office
PHOENIX – Cassidy Turley BRE Commercial has sold Lakeside Center, a multi-tenant office park in Phoenix, for $5.44 million. The 152,600-square-foot park was purchased by Houston-based Boxer Properties. The seller was Phoenix-based Trident Pacific Real Estate Group, which acted as a court-appointed receiver on behalf of Midland Loan Services. Cassidy Turley's Eric Wichterman, Mike Coover, Bob Buckley, Tracy Cartledge, Steve Lindley, Gordon Raguse and Tom Jacobs represented both the buyer and the seller.
CALVERTON, MD. — Merritt Properties has signed two new tenants at the 123,144-square-foot Calverton Corp. Center, located at 3901 Calverton Blvd. in Calverton. The Cruise Web signed a lease for 14,799 square feet to relocate its corporate headquarters in July and Atkins will relocate from its current Beltsville, Md., office to 27,763 square feet in November. Ron Burkhardt of Newmark Knight Frank's Los Angeles office represented The Cruise Web and Mike Isen and Allen Cornell of Lanham, Md.-based NAI Michael Cos. represented Merritt. In the other transaction, Merritt was self-represented by Steve Shaw and Bryan Rodriguez of Jones Lang LaSalle's Tampa, Fla. office, Mike Singer of the firm's Baltimore office and Mia Costa of the firm's Bethesda, Md., office represented Atkins.
WAKEFIELD, MASS. — Digital Realty Trust has completed Phase I of a major capital improvements program at 200 Quannapowitt Pkwy. in Wakefield. The 210,000-square-foot office space has been redeveloped into a state-of-the-art data center. The building is part of 100 & 200 Quannapowitt Pkwy., a 387,000-square-foot office and technology center. Tamie Thompson and Greg Zais of Jones Lang LaSalle's Boston office are the leasing agents for the property.
RICHARDSON — Ericsson, a provider of telecommunications equipment and related services, has signed two lease agreements for approximately 260,000 square feet to add to the 200,000 square feet it already occupies in the former Nortel campus at 2201-2221 Lakeside Blvd. in Richardson's Telecom corridor. Mike Wyatt and Ken Johnston of Cushman & Wakefield represented Ericsson, while Manny Ybarra represented Pillar Commercial, the landlord, internally. Ericsson now occupies 460,000 square feet of the two buildings' approximately 800,000 square feet. Pillar Commercial purchased the complex out of bankruptcy on June 3, 2011.
HOUSTON — Steve States of States Mortgage Co. has arranged an $8.65 million loan for the refinance of a 63,000-square-foot medical office building property in Houston. The borrower, a group of physicians, developed the property in 2006. States Mortgage Co. secured the 10-year fixed-rate loan with a sub 5 percent interest rate through one of its bank lending sources.
PHOENIX — CB Richard Ellis has sold two low-rise office buildings in Phoenix for $5.85 million. The first is a four-story, 154,016-square-foot building located at 18444 N. 25th Ave. The multi-tenant building is 36 percent occupied. The second is a 5,070-square-foot office building that is located at 18456 N. 25th Ave. CBRE's Barry Gabel, Mindy Korth, Bob Young, Glenn Smigiel, Steve Brabant, Rick Abraham, Ashley Brooks and Jim Bayless represented the seller, Trisail Funding, which had acquired the property through foreclosure. The buyer was Phoenix North 25th Avenue LLC.
LOS ANGELES — Jones Lang LaSalle has negotiated a lease renewal for 71,981 square feet of office space at Ernst & Young Plaza for Lockton Insurance Brokers, LLC. Ernst & Young Plaza is a 41-story, Class A office building in Downtown Los Angeles. Jones Lang LaSalle's managing director Tony Morales, senior vice president Christina Noonan and senior associate Maureen Hawley represented Lockton in the transaction. The landlord, EYP Realty, LLC, was represented in-house by John Barganski.
COLORADO SPRINGS, COLO. — Unique Properties, LLC – TCN Worldwide has sold a 20,500-square-foot office/flex building in Colorado Springs for $1,585,000. Located at 680 Garden of the Gods, the bank-owned building was acquired by Appliance Factory Outlet. Unique's John Sheflin, Marc Lippitt and Scott Shwayder represented the seller, Wells Fargo Bank.
AVENTURA, FLA. — Miami-based Aztec Group has arranged $35 million in acquisition financing for the One Turnberry Place, a 136,400-square-foot, Class A office building located at 19495 Biscayne Blvd. in Aventura. Tenants include Morgan Stanley, Merrill Lynch, Bank Leumi USA, Chase Bank, Fidelity Investments, Brody & Associates and Ameriprise Holdings. The 10-year financing was provided by Credit Suisse/Column Financial for the buyer, OTP Capital, an affiliate of Aventura-based Triarch Investment Group.