CHICAGO — Walgreens has signed a lease to occupy 20,000 square feet of office space at the Sullivan Center in downtown Chicago. The company will utilize the space to house its e-commerce department, which will open with approximately 65 employees. Sullivan Center, which is approximately 80 percent leased, is owned and managed by Joseph Freed and Associates.
WOODBRIDGE, N.J. — Morristown, N.J.-based The Hampshire Companies has broken ground for the first building at CENTRA, its new 19-acre business park located in Woodbridge. The project consists of the redevelopment of an existing 98,500-square-foot building located at 186 Wood Avenue South. The building will be taken down to its structural steel, redeveloped into Class A office space and expanded by approximately 8,000 square feet. Completion is slated for late 2010. The project will be applying for LEED certification. The general contractor is Tishman Construction, and the project architect is Kohn Pederson Fox Associates PC. Cushman & Wakefield is handling leasing for the building. At full build-out, CENTRA could contain as much as 640,000 square feet of space.
PLANO, TEXAS — CMC Commercial Realty Group has sold the 209,089-square-foot CIGNA Pointe Building One to a private party for an undisclosed amount. The Class A property, located at 1640 Dallas Parkway in Plano, was completed in August to LEED Silver standards. CB Richard Ellis' Gary Carr, Russell Ingrum, Jack Fraker and Josh McArtor represented the seller.
LOS ANGELES — In partnership with Morgan Stanley Real Estate Investing, Kearny Real Estate Co. has sold a three-story, 183,400-square-foot office building to Kaiser Foundation Health Plan, a unit of Kaiser Permanente. The transaction completes the sale of the 13-building, 42-acre Kearny South Bay Business Park, the former site of the U.S. headquarters for Nissan North America. CB Richard Ellis’ John Ayoob represented the Kearny-led partnership in the transaction, and Steve Solomon of Jones Lang LaSalle represented the Kaiser Foundation.
BROOKFIELD, WIS. — Chicago-based Endeavor Cos. has acquired Executive Center IV, which is located at 235 N. Executive Drive in Brookfield. The three-story building offers 85,612 square feet of office space. A local developer sold the property for an undisclosed price. Tom Shepherd of Inland Cos. brokered the transaction.
FLOSSMOOR, ILL. — McShane Construction Co. has completed the construction of a 15,116-square-foot multi-tenant building, which is located at 19801 Governors Highway in Flossmoor. The Class A property offers flexible floorplans and state-of-the-art retail and medical office space. Currently signed tenants include Premier Orthopaedic and Hand Center, WCS Occupational Rehabilitation and Sports Medicine, and law firm Shapiro, Vasilatos & Cotter. Initial move-in is scheduled for mid-March. KLLM Architects provided architectural services for the project. Old Plank Trail Community Bank provided financing for the new development, which was developed by Alliance Real Estate.
DALLAS — Circuit Co. has signed a 13,111-square-foot lease with an undisclosed landlord at 1380 Presidential Drive in Richardson. Emily Candee and Henry Knapek of Transwestern represented the tenant. Lee & Associates' Adam Strittmatter and Nathan Denton represented the landlord.
HURST, TEXAS — Woodvale, Limited has purchased a 3,200-square-foot office from SB and T Assets Corp. The property is located at 464 MidCities Blvd. in Hurst. Russell Webb of Stream Realty Partners represented the buyer. Elizabeth Villalba and Tim McNutt of Bright Realty represented the seller.
ATLANTA — CIGNA has signed a 2-year lease extension with SDG Value Fund 1 for the 94,822-square-foot Metro Exchange Building in Nashville. The property is located in the 850-acre Metro Center mixed-use office park. CIGNA has been in the facility for more than 10 years. CB Richard Ellis' Harrison Johnson represented the tenant in the $3.55 million transaction.
FARMINGTON HILLS, MICH. — Samuel and Susan Bernstein have completed the disposition of a 7,200-square-foot property in Farmington Hills. Located at 31100 Northwestern Highway, the property offers 7,200 square feet of office space. The buyer and acquisition price were not disclosed. Todd Hawley of Friedman Real Estate Group negotiated the transaction on behalf of the seller.