REDWOOD CITY, CALIF. – A 5,985-square-foot office property located at 2944-2946 Broadway Street in Redwood City has sold for $1,425,000. The buyer plans to renovate the facility before moving into its vacant space. The property is currently 50 percent leased to the U.S. Government and the Veteran’s Center. It was marketed exclusively by Bill Allen, an investment specialist in Marcus & Millichap’s Palo Alto office.
RICHMOND, VA. — The 382,570-square-foot Deep Run 3, located at 9954 Mayland Dr. in Richmond, has been sold for $12.4 million. Mark Douglas of Cushman & Wakefield — Thalhimer's Richmond office represented the buyer, DR III, a joint venture between DRV and Markel-Eagle Partners, in the transaction.
GAINESVILLE, FLA. — The $11 million, 46,000-square-foot Florida Innovation Hub, located at the University of Florida in Gainesville, has been completed. The “business incubator” houses the UF Office of Technology Licensing, UF Tech Connect and more than 30 startup technology companies. Ponikvar & Associates designed the building to achieve LEED Gold certification, and Charles Perry Partners completed construction on the project.
CHICAGO — Phillips Electronics, a health and well-being company, has signed a long-term lease renewal for 73,753-square-feet in O'Hare International Center I, a Class A office complex, located at 10275 W. Higgins Rd. in Chicago, Ill. Greg Raus, Molly Carroll, Jen Wrinkle and Rick Fahey of Chicago, Ill.-based Jones Lang LaSalle represented Philips Electronics in the transaction. Josh Robbins represented the building manager, Indianapolis-based Duke Realty.
MARLBOROUGH, MASS. — Doble Engineering has signed an 11,222-square-foot office lease at 325 Donald Lynch Blvd. in Marlborough, Mass. Tim Latham and Kevin Malloy of Lincoln Property Co.'s Boston office represented the tenant in the transaction. Rick Putprush, Victor Galvani and Matt Morgan of Parsons Commercial Group represented the landlord, Marlborough-based Ferris Development.
AUSTIN — Marcus & Millichap represented both parties in the sale of the 17,234-square-foot Hamilton Plaza Office Building, located at 3700 W. Parmer Ln. in Austin. Greg Gaynor, Joshua Swank and Ron Hebert of Marcus & Millichap's Austin, San Antonio and Dallas offices, respectively, represented the buyer, a private investor, and the seller, a bank/financial institution, in the transaction.
RANCHO CUCAMONGA, CALIF. — Milliken Point at Empire Lakes, a one-story, 25,939-square-foot office building in Rancho Cucamonga, has sold for $4.3 million. The buyer was represented by Eileen Schuler and Suzanne Schuler of Schuler Commercial Real Estate. The seller, The Lindsay Group, was represented by Ed Hernandez, Kyle Kehner and Jeffrey Cole of Cushman & Wakefield’s Capital Markets Group.
OXNARD, CALIF. — Solar Surgical Center, LLC has leased 5,281 square feet of ground-floor office space at Solar Drive Business Park in Oxnard. The value and terms of the lease were not disclosed. Steve Doll and Bill Kiefer with NAI Capital’s Ventura County office represented both Solar Surgical and the building owner, Hines, in this transaction.
WALTHAM, MASS. —The suburban leasing group of NAI Hunneman has negotiated a 13,360-square-foot office lease renewal and expansion for Waltham, Mass.-based RentGrow Inc. at 307 Waverly Oaks Rd. in Waltham. Jim Boudrot and Evan Gallagher of NAI Hunneman represented RentGrow, a tenant screening company, in the transaction. Duffy Properties, the landlord, was self-represented.
HOUSTON — Miami-based Parmenter Realty Partners has acquired the 225,727-square-foot Woodland Park Plaza, an office building located at 11490 Westheimer Rd. in the Westchase submarket in Houston. The acquisition was purchased through Parmenter's institutional fund, Parmenter Realty Fund IV. The property was 68 percent leased at the time of the acquisition.