FORT WORTH — Regus Group-North Dallas has renewed its lease of 19,764 square feet of office space at the Western Insurance Building in Fort Worth. Chris Wright and Noreen Mehdi of Grubb & Ellis Co. represented Bridgestone Realty, part of The Navika Group of Companies, in the transaction. Western Insurance Building is an 84,831-square-foot Class A office building located at 5601 Bridge St. Wright and Mehdi worked with Bridgestone’s Naveen C. Shah and Chirag Tolia in the transaction.
SAN JOSE, CALIF. – Bixby Land Company purchased a 164,000-square-foot office campus inside Silicon Valley's Golden Triangle for $19.5 million. The firm plans to invest an additional $11.4 million to renovate the property, which will be completed later this year. Bixby purchased the campus' three vacant office buildings in two separate transactions with sellers Peery Arrillaga and NSJ Investors, LLC. Colliers' Craig Fordyce, Jim Beeger and Mike Rosendin represented NSJ Investors in the sale of 251 and 281 River Oaks Parkway. Peery Arrillaga represented itself in the sale of 211 River Oaks Parkway. Bixby represented itself in both acquisitions.
RICHMOND, VA.— United Network for Organ Sharing has purchased a 51,723-square-foot office building, located at 501 N. 2nd St. in Richmond for $2.5 million. The company also plans to occupy the space. Mark Douglas and R. Scott Douglas of Cushman & Wakefield's Richmond office handled the sales negotiations.
HOOVER, ALA.— Harbert Realty Services has arranged the sale of a 57,000-square-foot office building and its surrounding 78 acres in Hoover, Ala. The facility was originally built as the corporate offices of Harbert Corp. Alabama Telco Credit Union plans to move it's headquarters to the building during the first quarter of 2012. Dean Nix with Harbert Realty's Birmingham, Ala., office represented Harbert Corp. and Walter Brown of Graham & Co.'s Birmingham office represented the buyer.
MAITLAND, FLA. — Brookwood Financial Partners has acquired the 204,237-square-foot Maitland 200, a Class A multi-tenant office building located at 2301 Maitland Center Pkwy. in Maitland. The building is 95.7 percent leased to tenants including Camp Dresser McKee, Digital Risk, the Florida Department of Revenue, ADP TotalSource and Penn Mutual Life Insurance Co. Christian Lee, Charles Foschini and Christopher Apone of CBRE’s South Florida offices secured the financing from JP Morgan, and Ron Rogg, also of CBRE, represented the seller.
PERINTON, N.Y. –– NorthMarq Capital has arranged a $6.5 million mortgage for Basin Park, a 14,513-square-foot office property located at 1150-1160 Pittsford Victor Road. Michael James of NorthMarq’s upstate New York office arranged the financing through NorthMarq’s correspondent relationship with Sun Life Assurance Co. of Canada. Financing was based on a 10-year term with a 20-year amortization schedule.
HOUSTON –– ION Geophysical Corp. has renewed its lease for its 115,056-square-foot office space in CityWestPlace, a 1.47 million-square-foot office campus in Houston. Chip Colvill, Michael Anderson and Win Haggard Jr. of Colvill Office Properties represented the landlord, TPG/Cal/STRS, a joint venture of Thomas Properties Group and the California State Teachers’ Retirement System. Mark O’Donnell of Studley Houston headed lease negotiations on behalf of ION Geophysical. CityWestPlace has tenants ranging from a hair salon to a laundry service spread across its 30 acres.
KOKOMO, IND. — Northbrook, Ill.-based The Boulder Group has arranged the sale of a 9,684-square-foot, single-tenant GSA property, located at 353 West Alto Rd. in Kokomo, for $2.27 million. The GSA has seven years remaining on its lease. Randy Blankenstein and Jimmy Goodman of The Boulder Group represented the seller, a private partnership. The buyer was a New York-based 1031 exchange investor.
GLASTONBURY, CT. –– Waldemar Realty has purchased a 25,537-square-foot office building on 2.35 acres of land from Carl Foster, LLC. Waldemar Realty’s partners will occupy one-third of the building, which sits at 100 Western Blvd. in Glastonbury, CT. Sentry Commercial was the sole broker in the transaction.
NEW YORK CITY –– Stellar Management and Savanna Investment Management, owners of 2 Rector Street, have leased a 25,462-square-foot office through Cushman & Wakefield. Ithaka, a not-for-profit organization, will occupy the space, which spans the entire 18th floor and a portion of the 17th floor. Other tenants include Skanska and Bank of America Merrill Lynch.