LEESBURG, VA. — Sperry Van Ness/Vaaler Real Estate (SVN) has completes the sale of a 12,780-square-foot office condominium, located across from INOVA/Landsdowne Hospital in Leesburg, for $3.9 million. The space is currently leased to a medical tenant. SVN’s Rich Vaaler represented the buyer, a local private investor. Phil Canada of Landsdowne Real Estate represented the undisclosed seller.
Office
LISLE, ILL. — Grubb & Ellis has brokered the sale of a 51,000-square-foot office building, located at 4979 Indiana Ave. in Lisle. The property was acquired by the Chicago Regional Council of Carpenter, which plans to consolidate its suburban operations into the new facility. Michael Fortuna and Brett Ratay of Grubb & Ellis represented the seller, Lisle Portfolio LLC, a subsidiary of Philadelphia-based Amerimar. Jules Marling and Michael Jacobs of Real Estate Research Corp. represented the buyer. The acquisition price was not disclosed.
PRINCETON, N.J. — FirstService Williams New Jersey has arranged a long-term, 67,531-square-foot office lease on behalf of the landlord, RXR Realty, at One University Square in Princeton. Otsuka America Pharmaceutical Inc. will occupy the entire top floor as its U.S. headquarters and will take possession in early 2010. Otsuka is relocating its offices from 100 Overlook Center in Princeton. One University Square is a five-story, 313,000-square-foot Class AAA office building featuring the most up to date communications, technology and connectivity, as well as a two-story atrium lobby with sophisticated finishes of cherry wood paneling and granite pavers. The building offers 21-foot high window walls, concierge service, 24/7 security system and four passenger elevators with satin stainless steel doors and interior finish of granite panels with cherry wood trim. Amenities also include a top-tier health club with men’s and women’s locker rooms, showers and saunas, a 60-seat, multi-media team room, full-service cafeteria and 900 kw generator providing 2 watts per square foot for tenant’s use. Jane Moni and Lori Gaffney of Triad Commercial Real Estate represented the tenant, and Ward Greer and David Simson represented RXR Realty in the transaction.
NEW YORK CITY — The Partnership For New York City, a non-profit organization comprised of business leaders dedicated to enhancing the economy of the five boroughs and maintaining the city’s position as the global center of business and finance, has renewed its 25,825-square-foot office lease for 10 more years at One Battery Park Plaza, a high-rise tower in New York City owned by a joint venture of the Rudin and Rose families. Also known as 24 State Street, the 35-story tower contains 750,000 square feet of prime office space and was built in 1972. Barry Gosin and Hal Stein of Newmark Knight Frank represented the tenant in the long-term leasing transaction while Gene Baumstein of Rudin Management represented the landlord.
NEW YORK CITY — The Kaufman Organization has brokered a 5-year, 11,695-square-foot lease at 550 Seventh Avenue in Manhattan, New York City, for designer Eugene Fenasci. Michael Heaner of Kaufman Organization represented Bill Blass Licensing Co. in the transaction, while Glenn Roberts and Harriet Molk of Fenway Equities and Molk Associates represented the tenant. Although the terms of the lease were undisclosed, the asking rent for the space was $45 per square foot. 550 Seventh Avenue is a 24-story building completed in 1925 in Manhattan’s Garment District. The 250,000-square-foot building is home to several marquee names in the fashion industry, including Oscar De La Renta, Donna Karan, Cynthia Steffe, Jill Stuart, Polo Ralph Lauren, Lilly Pulitzer, Mavi Jeans, and Badgley Mischka.
RICHARDSON, TEXAS — W.P. Carey & Co. has selected Jones Lang LaSalle as the exclusive leasing agent for 2370 North Performance Drive, a 282,000-square-foot, Class A office building located in Richardson. Constructed in 2001, the seven-story property is situated within the Galatyn Park submarket. It contains 846 parking spaces, convenient access to a nearby DART station and an average floor plate size of 40,285 square feet. Sandie Matejek and Shannon Brown will lead the Jones Lang LaSalle leasing team. This most recent assignment brings the company’s leased and managed portfolio in the DFW Metroplex to approximately 15 million square feet.
GLENDALE, ARIZ. — New York-based Jomike Realty Co. has acquired Arrowhead Professional Park, a 40,000-square-foot medical office complex located at 16222 N. 59th Ave. in Glendale. The four-building property sold for $12 million. Current tenants include Arrowhead Family Health, North Phoenix Heart Center, Sun Radiology, Wade & Nysather PC and Community Drug Store Pharmacy. Eric Wichterman and Ann Sondrol of Grubb & Ellis represented the buyer; Marc Bonilla of Colliers International represented the seller, Phoenix-based Arrowhead Health Office Properties.
LOS ANGELES — RP Properties has purchased 9300 Wilshire Boulevard, a six-story, Class A office property located in West Los Angeles, for $11 million or $188 per square foot. The 58,484-square-foot building is situated on 16,409 square feet of ground-leased land. At the time of escrow, the property was 95.8 percent occupied. The seller was Lexington Properties. Bob Safai of Madison Partners represented the buyer in the transaction.
LOMA LINDA, CALIF. — An undisclosed buyer has acquired Loma Linda Professional Center, a six-building office complex in Loma Linda, for $2.96 million or $272 per square foot. Located at 25845 F Barton Rd., the property offers 69,000 square feet of medical, office and retail suites. A portion of the property will be leased to Loma Linda University Medical Center. Drew Wetherholt and Vincent Schwab of Marcus & Millichap’s Ontario, Calif., office brokered the transaction.
ORLANDO, FLA. — Orlando-based Smith Equities Real Estate Investment Advisors has arranged the sale of the 7200 Building, an office building in Orlando Central Park in Orlando. Smith Equities represented the seller, Orlando Central Park Tarragon II. The buyer, JCQ Investments, purchased the property for $2.8 million. The office building was 64 percent vacant at the time of sale and was sold out of bankruptcy court. Since gaining ownership, JCQ Investments has begun to upgrade the building with a new security alarm system, security cameras and plans to revitalize the building’s common areas. The company has also signed leases with tenants Time Share Networking, Brand Energy and Time Bandit.