MISSION VIEJO, CALIF. — Hanley Investment Group Real Estate has negotiated the $2.9 million purchase of an 11,460-square-foot commercial building located at 27856 Center Drive in Mission Viejo. Built in 1991 and vacant at the time of sale, the freestanding property is situated within Crown Commerce Center, which is anchored by The Home Depot. Hanley’s William Asher represented the Santa Ana, Calif.-based buyer, Fairhaven Memorial, in the transaction, and Marcus & Millichap represented the Fresno, Calif.-based seller, King’s Knight Ventures LLC.
NEW YORK CITY — Sesame Workshop, the educational nonprofit responsible for Sesame Street, has renewed its lease at One Lincoln Plaza in Manhattan. The tenant occupies 140,000 square feet, consisting of the second, third, fourth and eighth floors of the building. As part of the lease renewal, the landlord, locally based Ogden CAP Properties, will complete infrastructure upgrades including new windows and mechanical systems. The Newmark Knight Frank team of Barry Gosin, Moshe Sukenik and Robin Fisher represented Sesame Workshop in lease negotiations. Ogden CAP Properties provided in-house representation.
RICHARDSON — Champion, along with investment partner Fidelity Real Estate Group, has acquired a nine-story, 234,000-square-foot Class A office building at 2600 N. Central Expressway in Richardson, known as One Telecom. It previously housed Southwestern Bell and AT&T. Renovations are planned and Peloton Commercial Real Estate has been hired as the building's leasing representative.
HOUSTON — TNB Properties has purchased a 100,000-square-foot office building at 500 S. Main St. in Houston's Galena Park from Valley Plaza Donaho. Eric Hughes of Centermark Commercial Real Estate represented the buyer in the transaction, while Doyle Toups and Jim Authenreith of NAI Houston represented the seller.
FORT MYERS, FLA. — Bondville Associates has completed the disposition of Bass Commons at Health Park in Fort Myers. The 27,304-square-foot office/medical property is located at 15901 Bass Road. Lee Memorial Health Systems purchased the property for $5.3 million or $142.08 per square foot. Additionally, a 13,437-square-foot expansion has been approved for the site. Karl Lippek of Colliers International Southwest Florida brokered the transaction.
NAPERVILLE, ILL. — MKW 1200 Warrenville Road LLC, a joint venture between Daniel Murphy, William Krug, Larry Krueger, and Wanxiang America Real Estate Group, has commenced the renovation of 1200 Warrenville Road in Naperville. The 330,000-square-foot vacant office building will receive a new state-of-the-art energy-efficient HVAC system and new building systems, washrooms and a lobby. FCL Builders is serving as general contractor; David McCarty of Chicago Design Network is providing architectural services for the project. MKW 1200 Warrenville Road LLC acquired the four-story office building, which was built in 1981. Bill Ellwood and Jeffrey Mann of CB Richard Ellis have been retained to lease the property.
LOMBARD, ILL. — Jones Lang LaSalle, acting on behalf of Dental Networks of America, has selected Elmhurst, Ill.-based J.C. Anderson Inc. to complete a 60,000-square-foot office build-out in Lombard. The project will utilize a portion of the existing space while adding new design features, including the construction of multiple offices, conference rooms, a kitchen area, break rooms, classrooms and private executive offices. Dental Network of America, a wholly owned subsidiary of Health Care Service Corp., a Mutual Legal Reserve Co., is relocating its corporate headquarters to 701 E. 22nd St. in Lombard from its previous location in Oakbrook Terrace, Ill. Partners by Design is providing architectural services and OWPP is serving as project engineer for the project, which is scheduled for completion in February 2011.
WAYNE, N.J. — UPS has signed a lease for 120,000 square feet of Class A office space in Wayne. The company will occupy almost all of the four-story, 163,000-square-foot building located at 1655 Valley Road. It is relocating from offices in Morris Township, N.J. Tom Consiglio of Resource Realty represented UPS in lease negotiations. The landlord is Prism Capital Partners.
NEW YORK CITY — Massey Knakal Realty Services has negotiated the sale of a 12,960-square-foot office building located in Manhattan's Flatiron neighborhood for $6.5 million. The six-story property was constructed in 1893 and includes an additional 11,700 square feet of development rights. Massey Knakal's John Ciraulo and Michael Azarian brokered the deal.
HOUSTON — A subsidiary of BG Group plc has signed a 164,000-square-foot lease at Houston's MainPlace office tower, which will be renamed BG Group Place after the natural gas company. Located at 811 Main in downtown Houston, the space will serve as BG Group's U.S. headquarters with the possibility of expanding in the 46-story, 1 million-square-foot office tower. The company plans to relocate from its current Galleria location in mid to late 2011. BG Group is based in the U.K. and is active in more than 25 countries on five continents. Its strategy is focused on connecting competitively priced resources to specific, high-value markets with a broad portfolio of exploration and production. Jim Bailey, Joe Peddie and Tim Relyea of Cushman & Wakefield and Glenn Pinkerton of Vinson & Elkins represented BG Group in the transaction. Chrissy Wilson and Stewart Robinson of Hines represented the landlord, HC Green Development Fund, a partnership of the California Public Employees' Retirement System (CalPERS) and Hines.