NEW YORK — SL Green Corp. and its joint venture partner have agreed to sell One Court Square in Manhattan to a private investor group for an estimated $42 million. The transaction includes $315 million of existing debt, which will be assumed by the purchaser. The 1.4 million-square-foot office building is fully leased to Citibank. Eastdil Secured represented the sellers in the pending transaction.
CAMBRIDGE, MASS. — Intrepid Labs, a Cambridge-based startup specializing in alternative workspaces for venture-backed firms, has signed a 10,500-square-foot office lease at the American Twine Office Park, located at 222 Third St. in Cambridge. Tad Lee of Colliers International's Boston office represented the landlord, Transatlantic Investment Management Inc., in the transaction.
LOS ANGELES — Coldwell Banker Commercial WESTMAC has completed a sale-leaseback at a Downtown Los Angeles office building located at 2417 Beverly Blvd. The 10,720-square-foot building was sold to a local investor and owner/user janitorial company from a national magazine publisher for $1,750,000. The janitorial company plans to occupy half of the property, while the seller will lease back the remaining portion for three years. The buyer, Sun Kee Hong, was represented by Brian Rhie of AB Real Estate. The seller, 2401 Beverly LLC, was represented by Michael Rojas, William Althouse and T.C. Macker of Coldwell Banker Commercial WESTMAC.
LISLE, ILL. — Leopardo Co. Inc. is building a three-story, 95,000 square foot medical office building for DuPage Medical Group in Lisle. Located at 430 Warrenville Rd., the facility will house a cancer center for DuPage Medical Group and Rush University Medical Center, part of a recently announced partnership to bring university-level cancer care to the western suburbs. The building is slated for completion in December 2012.
BURLINGTON, MASS. —Colliers International has arranged two office leases totaling 58,482 square feet at New England Executive Park in Burlington. Black Duck Software signed a lease for 29,323 square feet at 8 New England Executive Park. COMSOL Inc. renewed and expanded its lease to 27,159 square feet at One New England Executive Park. Matthew Daniels, John Carroll III and Andrew Whipple of Colliers represented the landlord, Equity Office, in the transaction. T3 Advisors represented Black Duck and COMSOL was represented by Colliers.
SANTA MONICA, CALIF. — EC English has leased 16,500 square feet at 401 Wilshire Blvd. in Santa Monica. This will be the English language school’s first Los Angeles outpost. The company plans to occupy the space by January 2012. EC English was represented by Dave Toomey and Brian Davies of CresaPartners in Los Angeles. The landlord, Douglas Emmett, was represented in-house by Bob Zelkin.
MILWAUKEE — Paul Davis National, a firm that specializes in consulting and emergency services for catastrophic disasters, will move its headquarters to Milwaukee in a new 40,000-square-foot building. Paul Davis National will invest $10 million in equipment and the new building, which will be located at 2000 S. Fourth St. The building is slated to open in spring 2012.
SHELTON, CONN. — Gexpro, an electrical product distributor, has signed a lease for 30,132 square feet at 1000 Bridgeport Ave. in Shelton. Kevin Foley and Torey Walsh of Cushman & Wakefield represented the building owner, 1000 Bridgeport Associates LLC, a joint venture of Abbey Road Advisors, Westport and The Praedium Group, in the transaction. Peter Buckey and Andy Arrick of Cassidy Turley represented the tenant.
FORT MILLS, S.C. — Marcus & Millichap has arranged the sale of a 74,844-square-foot office building, located at 1830 MacMillian Park Dr. in Fort Mill. The property is fully leased to corporate headquarters of Continental Tire the Americas. David “Britton” Burdette of Marcus & Millichap's Atlanta office represented the seller, Charlotte, N.C.-based Forsite Development, in the transaction. Jamie Medress and Mark Ruble of Marcus & Millichap's Phoenix office represented the buyer, Milwaukee-based Investor Associated, which acquired the property as part of a 1031 exchange. Hendrick Construction will complete a $3 million, 90,994-square-foot expansion on behalf of the buyer.
MINNEAPOLIS, MINN. — NorthMarq Capital's Minneapolis regional office arranged first mortgage refinancing of $7.1 million for the Stadium Village Apartments, a 121-unit multifamily property located in Minneapolis. Daniel Trebil of NorthMarq arranged the financing for the borrower through NorthMarq's correspondent relationship with a bank. The 5-year loan has a 30-year amortization schedule.