KANSAS CITY, MO. — Colliers Turley Martin Tucker (CTMT) has arranged the purchase of the Broadway Summit Building, a 130,000-square-foot office building located at 3101 Broadway in midtown Kansas City. The property was acquired by The Children's Mercy Hospital, which plans to use the building for expansion space. CTMT's Mike Posten and Suzanne Dimmel represented the hospital in the purchase. The seller was not disclosed.
DALLAS — The Weitzman Group has brokered the sale of the Inwood Plaza office building, located in Dallas. Situated at 12240 Inwood Rd., the property totals five stories and 34,663 square feet. The building has been recently renovated. Bill Knoprick and Jonathan Diamond of Weitzman represented the seller, a limited partnership. The buyer was locally based Lutador LLC. Weitzman will continue to serve as leasing agent for the building.
ALISO VIEJO, CALIF. — Quest Software has secured a $34 million loan for a cash-out refinance of its two-building headquarters. Located in Aliso Viejo, the buildings total 168,703 square feet. Two lenders — a Midwest-based bank and a California-based bank — funded the fixed-rate loan, which carries a 25-year amortization schedule and a 70 percent loan-to-value ratio. Bruce Krall of Cohen Financial’s Newport Beach, Calif., office secured the deal.
SCOTTSDALE, ARIZ. — Arizona-based Mesquite Corporate Partners has sold the 79,537-square-foot Mesquite Corporate Center to Mesquite Partners I of Colorado for $10 million. Located at 14646 N. Kierland Blvd. in Scottsdale, the property is currently 67 percent leased. Barry Gabel and Mindy Korth of CB Richard Ellis’s Phoenix office represented the seller. Justin Lutgen and Nate Schnabel of Denver-based DPC Development Co. represented the buyer.
ARLINGTON, VA. — The General Services Administration, on behalf of the Department of Defense, has signed a 221,084-square-foot lease renewal with Piedmont Office Realty Trust. The DOD will occupy the property, which is located at 3100 Clarendon Blvd. in Arlington, through 2018. Henry Chapman of CB Richard Ellis’ McLean, Va., office represented the GSA. Marcy Owens Test of Jones Lang LaSalle’s Washington, D.C., office and Piedmont’s Ken Mulrane represented the tenant.
LEXINGTON, KY. — Health Management Associates has sold an 11,648-square-foot office building to an undisclosed party for $1.3 million. The 7-year-old property is located at 425 Lewis Hargett Circle in Lexington and is fully occupied. Ken Silvestri of Lexington-based Silvestri-Craig Realtors brokered the sale.
NEW YORK CITY — Vertical construction will begin shortly for The International Gem Tower in New York City. Located at 50 W. 47th St., the project consists of a Class A office tower totaling 34 stories and approximately 748,000 square feet. The first phase of the project, which is expected to be complete by the end of the year, will include three below-grade levels housing retail space, a vault, secure valet parking facilities and underground loading docks. The tower is expected to open in fall 2011. Space within the building is being sold as office condos ranging in size from 1,000 to 22,000 square feet. The developer, Extell Development Co., plans to position the property as an industry building for tenants in the jewelry sector.
HOFFMAN ESTATES, ILL. — Construction is complete for Mori Seiki U.S.A. Inc.’s new North, South and Central Americas corporate headquarters and showroom, which is located at the intersection of W. Central Rd. and Huntington Blvd. within Huntington Woods Corporate Center in Hoffman Estates. The 104,00-square-foot facility features a two-story, 58,515-square-foot space for the office and classroom area of Chicago Technical Center, Machining Technology Laboratory and Mori Seiki University; a 23,875-square-foot showroom and 22,610 square feet of warehouse space, which features two 25-tom cranes and a 1-ton utility crane. McShane Construction Co. served as general contractor for the project, which was designed by Cornerstone Architects.
OMAHA, NEB. — DLR Group has broken ground for a new office for DLR Group in Omaha. Located at 6457 Frances St. within Aksarben Village, the three-story, 39,000-square-foot building aims to achieve LEED Gold certification. Design elements include optimum day lighting, outdoor workspaces, landscaping and a green roof. Completion is scheduled for November 2011.
NEW YORK CITY — Three leases, consisting of two expansions and one renewal, have been signed at 1350 Broadway, a 25-story, approximately 400,000-square-foot office building located in Manhattan, New York City. Law firm Tarter Krinsky & Drogin expanded its lease to 26,951 square feet, which encompasses the entire 11th floor and part of the 12th floor. Paul Amrich and Fernando Urrutia of CB Richard Ellis represented the tenant. In the second transaction, law firm Cary Kane expanded its lease to occupy 8,877 square feet on the building’s 14th floor. Finally, credit information and risk firm The Hawthorne Agency dba Coface renewed its lease for 12,288 square feet on the building’s 20th floor. Jay Lapham of Jones Lang LaSalle represented the tenant. Jonathan Fanuzzi, Bran Waterman and Julie Christiano of Newmark Knight Frank represented the landlord in all three transactions. The building is owned by 1350 Broadway Associates LLC and is managed by W&H Properties.
