CULVER CITY, CALIF — Punch Studio has acquired a 41,000-square-foot office building, located at 6025 Slauson Ave. within Playa Corporate Center in Culver City, for $10.8 million. The Klabin Company’s Ron Rader and Doug Marshall represented the buyer in the transaction, and CB Richard Ellis’ Stan Gerlach, Jeff Pion, Bryan Dunne and Michelle Esquivel-Hart represented the undisclosed sellers. Punch Studio, a manufacturer of gift and stationery items, plans to connect the two-story office building to the company’s existing office and warehouse facility next door with the addition of a new wing, which will increase the total property to approximately 140,000 square feet when completed in late 2011.
EFFINGHAM, ILL. — Midland States Bank has selected The Redmond Company to provide master planning, site selection and design services for its new headquarters in Effingham. The four-story, 80,000-square-foot building will house the bank’s administrative, operations and finance divisions. The property will feature an extensive glass exterior, a large ground-floor patio, roof terraces and a lobby atrium. Additionally, the building is being designed to achieve LEED certification. Green elements include water-efficient plumbing fixtures, recycled materials, energy management systems and a construction waste-management program. Completion is slated for early 2011.
NEW YORK CITY — The Nicotra Group has leased approximately 30,000 square feet of office space within Staten Island's Corporate Commons to Bridge Financial Group, an office of MetLife. The tenant will take occupancy of the Class A space, which is located within Corporate Commons Two, beginning in May. It is relocating from nearby Pleasant Plains. Corporate Commons consists of two buildings containing 300,000 square feet of office space. They are part of The Corporate Park of Staten Island.
HOUSTON — CHB America has purchased a 3-acre tract from SCO Oil for the new 20,000-square-foot U.S. headquarters of Chipolbrok, a shipping company. The land is located in the Interwood business park on Heathrow Forest Parkway in Houston. Southwest Realty Advisors' Marc Drumwright and Nick Miller represented SCO Oil.
BRECKSVILLE, OHIO — A private investment group has acquired Brecksville Corporate Centers I and II, which are located at 6650 and 6670 W. Snowville Road in Brecksville. The two-building office/warehouse complex sold for $7.3 million. The 117,920-square-foot property consists of a 78,320-square-foot building and a 39,600-square-foot facility. Dan Cooper of The Cooper Commercial Investment Group represented the undisclosed local owners.
SAN ANTONIO — Kohl's Department Stores has signed a 102,000-square-foot lease with Myers & Crow for the Westover Office Center I in San Antonio. The two-story property is located at 10000 Rogers Road. Kohl's expects to employ more than 1,000 workers at the property within 3 years. Stephen C. Hall of Dallas-based GVA Cawley brokered the deal.
SCOTTSDALE, ARIZ. — CB Richard Ellis has negotiated the sale of Mercado Del Rancho, a suburban office complex located at 10301 N. 92nd St. in north Scottsdale. The purchase price was not disclosed. Located directly across from the Scottsdale Healthcare Shea campus, Mercado Del Rancho consists of two two-story buildings totaling 71,200 square feet. CBRE’s Barry Gabel and Mindy Korth represented the seller, Washington, D.C.-based 10301 North 92nd Street Holdings LLC, a business unit of CWCapital Asset Management, in the transaction; the buyer was ESI Ventures, dba Black Canyon Place LLC.
GREENFIELD, IND. — Welch & Wilson Properties, a third-party logistics company, has leased a 115,557-square-foot office/warehouse facility in Greenfield. The company will use the facility, which is located at 315 W. New Road, as a new operations base. Mark Writt and Tom Cooler of CB Richard Ellis’ Indianapolis office represented the landlord, California State Teachers’ Retirement System, in the transaction. Additional terms of the lease were not disclosed.
JACKSONVILLE, ILL. — Northbrook, Ill.-based The Boulder Group has brokered the sale of a single-tenant office building in Jacksonville. New York-based SNC Realty purchased the 61,400-square-foot property for $6.2 million. The building is fully occupied by Blue Cross and Blue Shield. Randy Blankstein of The Boulder Group represented the seller, a private Chicago investor. The buyer was self-represented.
NEW YORK CITY — Cushman & Wakefield Sonnenblick Goldman (CWSG) has arranged $35 million in first-mortgage financing for a Manhattan office tower. The property, which contains 500,000 square feet of office space over 23 stories, is located at 1385 Broadway. It is currently in the final stages of a major capital improvements program. CWSG represented an affiliate of Bloomingdale Properties in securing the loan, which carries a 10-year term and was provided by a commercial bank. In addition, Cushman & Wakefield serves as property manager and leasing agent for 1385 Broadway.