ALLEN — Austin-based Capital Commercial has acquired Millennium Business Park, a two-story, 95,877-square-foot office building at 505 Millennium Dr. in Allen that sits on 10 acres of land. Creighton Stark, a senior vice president of Colliers International, brokered the office transaction.
NEW CANAAN, CONN. — Cushman & Wakefield has completed the sale of two office buildings in New Canaan for $6.6 million. The buildings, which were fully occupied at closing, total more than 20,000 square feet and are located at 24 and 36 Grove St. The Cushman & Wakefield team of Al Mirin and Kate Schwartz represented the seller, Defgey and Company. The buyer was 24-36 Grove LLC.
GOLDEN, COLO. — Marcus & Millichap has brokered the $7.25 million sale of the 79,705-square-foot Clear Creek Square, located at 600 12th Street in Golden. Built in 2001, the office property is situated between Washington Street and the entrance to the home of Coors. Marcus & Millichap’s Jacob Steele and Andy Glinski represented the court-appointed receiver in the transaction, and Steele and the brokerage firm’s Andy Glinski represented the buyer, a real estate investment firm.
BERGEN, N.J. — CommonWealth REIT has purchased a Class A office building from Invesco Real Estate for $20.6 million in an all-cash deal. The 120,000-square-foot, Class A property is located at 5 Paragon Drive in Montvale. The building was fully leased at the time of closing. Tenants include Thomson Reuters, Doosan Engineering and Motorola. The Holliday Fenoglio Fowler team of Jose Cruz, Andrew Scandalios, Kevin O'Hearn and Jeffrey Julien represented the seller.
NEW YORK CITY — OppenheimerFunds has signed a 15-year lease for 235,342 square feet at Two World Financial Center a 44-story, 2.3 million-square-foot office tower located in Lower Manhattan. The firm had previously been subleasing the space, which comprises a portion of the building's 10th floor and all of the 11th, 12th, 14th and 16th floors. The Cushman & Wakefield team of Stuart Romanoff, Amy Fox, Robert Constable and Maureen Kelly represented the tenant in lease negotiations. The landlord, Brookfield Properties, was represented in-house by Jerry Larkin and Duncan McCuaig.
SILVER SPRING, MD. — An investment group aligned with Adventist Healthcare has acquired a five-story, 17,000-square-foot office building in Silver Spring. Located at 8807 Colesville Road, the nearly vacant property sold for $3.5 million. Chris Kubler and Travis Glennon of NAI KLNB represented the seller, Jose F. Bonelli; Larry Walker of The Walker Group represented the buyer in the transaction.
BALTIMORE, MD. — TidalTV has signed a lease for 16,000 square feet of office space at The Offices at McHenry Row in Baltimore. The company plans to relocate to the new space from its current property in Canton, Md., by April. Joe Nolan of NAI KLNB and Tim Jackson of Cushman & Wakefield represented the developer and landlord of the project, Mark Sapperstein; David Fields of CB Richard Ellis represented the tenant. The Office at McHenry Row is the office component of the 175,000-square-foot, mixed-use McHenry Row project, which is located near the intersection of Key Highway and East Fort Avenue in Baltimore's Locust Point district.
LOS ANGELES — Committing to its 15th new location in the past 22 months and its 24th location in Los Angeles County, Premier Business Centers will set up shop at the prestigious AT&T Center, located at 1150 South Olive Street in the City of Angels. Opening at the end of February on the 20th floor of the 32-floor skyscraper, PBC's new executive suite will feature 39 offices and two conference rooms. Companies renting in the 10,319-square-foot facility will share the use of a receptionist, a mailroom, a waiting area and kitchen/lounge/cafe.
MESA, ARIZ. — Colliers International has negotiated the $3.4 million acquisition of the 67,208-square-foot Pennington Place, a two-story, garden office building located at 1855 W. Baseline Road in Mesa. Colliers’ Todd Noel represented the buyer, Community Bridges, in the transaction, and Cassidy Turley BRE Commercial’s Steve Lindley, Robert Buckley and Tracy Cartledge represented the local seller, The Cardon Group. The private non-profit organization’s corporate headquarters will occupy 20,000 square feet; 56 percent of Pennington Place is currently leased.
ST. CLOUD, MINN. — NorthMarq Capital has arranged $6 million in first mortgage financing for Cold Spring Center in St. Cloud. Located at 4150 Second St. South, the building offers 77,634 square feet of office space. Financing was based on a 10-year term and was arranged for the borrower by NorthMarq's relationship with Sun Life Assurance Co. of Canada. Patrick Minea of NorthMarq's Minneapolis Regional office secured the financing.