SAN DIEGO — BioMed Realty Trust has purchased a 49,347-square-foot Class A office building, located at 10240 Science Center Drive in San Diego’s Torrey Pines submarket, from Trammell Crow Co. for $17.75 million. CB Richard Ellis’ Louay Alsadek, Evan August, Ryan Egli and Matt Nickels represented both the buyer and the seller in the transaction. Built in 2002 and 100 percent leased to eBioscience, the two-story building is the corporate headquarters for the privately held life-science/biotech company.
INDIANAPOLIS — BPG Properties Ltd. has completed the disposition of 8480-8520 Keystone Crossings, a three-building office and retail property in Indianapolis. PWA Keystone Crossing LP, an affiliate of PWA Real Estate, acquired the 117,276-square-foot property sold for $15.5 million. Rebecca Wells of Cassidy Turley's Indianapolis office represented the seller, BPG, in the transaction.
HOUSTON — Energy Crossing, a 239,166-square-foot, Class A Houston office building has sold to Lincoln Property Co., on behalf of a public pension fund client for an undisclosed amount. M&I Bank sold the property and was represented by Holliday Fenoglio Fowler's Dan Miller, real estate analyst Trent Agnew, and Adam Jackson and Stewart Lyman of Stream Realty Partners. Located in Houston's Energy Corridor submarket, Energy Crossing was completed in 2009 and has six floors of office space plus a four-story, 900-space parking garage.
RICHARDSON — Eclipse Electronic Systems has leased 24,403 square feet of office/flex space at Richardson Technology Center at 1551 N. Glenville Dr. in Richardson from Richardson Technology Properties. Sharon Friedberg of Bradford Commercial Real Estate Services and Nick Rossini of UGL Equis represented the tenant, while Mark Aston of Maverick Commercial Real Estate represented the landlord.
TAMARAC, FLA. — Chris Caveglia of Dockerty Romer & Co. has arranged a $2.2 million loan for Tamarac Commons, an office property in Tamarac. Located at 7300 and 7310 W. McNab Road, the property is comprised of two two-story, 27,878-square-foot buildings. The financing was arranged through a local lender with a 5-year term and a 25-year amortization schedule. The borrower was not released.
INDIANAPOLIS — ExactTarget has signed a lease for 22,064 square feet of office space at The Century Building, which is located at 36 S. Pennsylvania St. in Indianapolis. Terms of the lease were not released. Jenna Barnett of Halaker Real Estate represented the tenant; Matt Langfeldt and Rich Forslund of NAI Olympia Partners represented the landlord, Blue Real Estate, in the transaction.
SOMERSET, N.J. — CB Richard Ellis (CBRE) has brokered the sale of a 162,756-square-foot office building in Somerset. The building is situated on 8.97 acres at 580 Howard Ave. The buyer, Oticon Inc., plans to consolidate two of its facilities into the property to create its new U.S. headquarters. The CBRE's Geoffrey Schubert and Sean Morley represented the buyer. The CBRE team of Jeffrey Dunne, Kevin Welsh and Brian Schulz represented the undisclosed seller. The acquisition price was not released.
HOUSTON — The Khoshbin Company of Irvine, Calif. sold its Torrey Chase office portfolio in Houston in 2005 for $13.8 million. It has repurchased the portfolio, which consists of three office buildings making up 192,000 square feet, in 2010. Located near FM 1960 and Veterans Memorial Drive, the buildings are 56 percent occupied and were owned by CCMS 2005-CD1 Houston Offices. Khoshbin plans to renovate the property with upgrades to the lobbies and roofing.
BEAVERTON, ORE. — Grandbridge Real Estate Capital has originated and closed a more than $63.2 million fixed-rate loan secured by Murray Business Center, a 332,000-square-foot suburban office building located in Beaverton. Funding for the transaction was provided by TIAA-CREF. The loan was made at 98 percent of appraised value with an interest rate of 5.61 percent fixed for the entire 21.3-year loan term. The transaction features an initial 39-month interest-only component with negative amortization, which converts to an 18-year amortization. Rob Meister of Charlotte, N.C.-based Grandbridge, a subsidiary of BB&T Corp., arranged the financing on behalf of a long-time client. The main tenant at Murray Business Center currently occupies 72 percent of the property with an unrelated, non-credit tenant occupying the remaining portion of the property until September 30, 2013, at which time the main tenant takes over the entire building.
ONTARIO, CALIF. — Lee & Associates has negotiated an investment group’s $8.75 million purchase of Ontario Gateway, a two-building, multi-tenant professional office complex totaling 125,497 square feet in Ontario. Both the 73,974-square-foot Ontario Gateway I, located at 2151 E. Convention Way, and the 51,523-square-foot Ontario Gateway II, located at 2143 E. Convention Way, are two stories with freeway orientation. Tenants include SoCal Water, California Department of Consumer Affairs and the state’s Department of Health Services and Manpower. Lee & Associates’ Edward Indvik, Matthew Sullivan, David Mudge and Julia Corona-Thompson represented both the buyer and the seller, Jefferson-Pilot Investments, in the transaction.