BERNARDSVILLE, N.J. — Denholtz Associates has acquired a 56,000-square-foot, Class A office building at 150 Morristown Rd. in Bernardsville. The building was acquired in a joint venture partnership that included Becker Brothers. Located in the desirable I-287 corridor just outside Morristown in Somerset County, the facility offers units from 800 to 1,500 square feet and recently underwent substantial upgrading by its former owners. The building features a two-story lobby, 24/7 access, executive covered parking and award-winning property management. The building is directly off of Route 202/206 and is in close proximity to Routes 78, 287, public transportation, shopping, restaurants, banking, and hotels.
SADDLE BROOK, N.J. — CB Richard Ellis' (CBRE) Patrick Murphy, Donald Sperling, Greg Barkan and Scott Larson have negotiated three lease transactions at Metropolitan Center in Saddle Brook. Corporate Synergies Group, a global provider of software and consulting solutions to IT infrastructure, signed a 13,545-square-foot lease. The firm relocated its operations from Paramus. The tenant was represented by Curtis Foster from Cushman & Wakefield and John Gillespie from Newport Commercial Real Estate Advisors. Cambrex Corp., a leading supplier of products and services for the life sciences industry, signed a 10-year, 10,486-square-foot lease renewal agreement. Cambrex was represented by Jay Garibaldi, Matt Kirby and Michael Witko of The Garibaldi Group. Children's Place, a national clothing retailer, completed a 31,000-square-foot lease renewal and short-term extension within this Class A property. The tenant was represented by Thomas Consiglio of Resource Realty. Murphy, Sperling, Barkan and Larson of CBRE represented the landlord, CBRE Investors, in all three of these transactions. Situated at Exit 16W off the New Jersey Turnpike at the junction of routes 3 and 120, the 422,000-square-foot Metropolitan Center is conveniently located just 15 minutes from the Lincoln Tunnel. Both Newark Liberty International Airport and Teterboro Airport are within 10 miles, and …
HOUSTON — Sacramento, Calif.-based Panattoni Development Co. is developing a 94,000-square-foot, build-to-suit data center on behalf of CyrusOne. The facility is situated within Beltway 8 Corporate Centre, which is located along the North West Beltway in West Houston. The data center will feature redundant utility power feeds and access to one of Houston’s major telecommunications fiber corridors. Completion is slated for November. John Pruitt, Jessica Ochoa and Kristen Rabel of CB Richard Ellis, along with Justin Bennett of Panattoni, represented Panattoni in lease negotiations for the facility. CyrusOne was represented by Brant Bernet and Peter Tippen of Rackhouse, as well as Anthony Fritsche of Fritsche Anderson. Metzer Construction is serving as general contractor for the project. Acquisition financing is being provided by Sovereign Bank.
CHANDLER, ARIZ. — Austin, Texas-based Capital Commercial Investments has acquired a 512,000-square-foot office/research and development facility, which is located at 2501 S. Price Rd. in Chandler. Situated on 152 acres between Germann and Queen Creek roads, the two-story property, which was the former Motorola campus, sold for an undisclosed price. Luke Walker of CB Richard Ellis’ Phoenix office represented the buyer; Jeff Adkinson of Jones Lang LaSalle represented the seller, Schaumburg, Ill.-based Motorola, in the transaction.
MARYLAND HEIGHTS, MO. — The redevelopment of a 47,000-square-foot office building in Maryland Heights is nearing completion. The project, spearheaded by HDA Architects and the building’s new owner-occupant, Intoximeters, included significant internal renovations and minor modifications to the building exterior. The $2.8 million renovation was initiated by Intoximeters after the company sought numerous new build sites throughout the St. Louis market, before deciding on the more cost-effective redevelopment route.
BERNARDSVILLE, N.J. — New Jersey-based Denholtz Associates has purchased a 56,000-square-foot office building located in Bernardsville. The building, a Class A property situated at 150 Morristown Rd., was acquired by Denholtz in a joint venture with Roseland, N.J.-based Becker Brothers. The sellers, RAIT Financial Trust and NPV Direct, recently completed substantial renovations to the property. Terms of the transaction were not released.
HERSHEY, PA. — Camp Hill, Pa.-based CAMPBELL Commercial Real Estate has brokered the sale of a 39,600-square-foot office building, located at 1135 E. Chocolate Ave. in Hershey. The building was acquired by American Dental Care, which plans to renovate and occupy the first floor of the building. Art Campbell and Derek Bicksler of CAMPBELL represented the seller, Verizon North. The buyer was represented by Joe Gallo of the Hershey office of ReMax. The acquisition price was not disclosed.
NEW YORK CITY — Jones Lang LaSalle (JLL) has arranged a 54,000-square-foot sublease at Grand Central Square, a 921,370-square-foot, Class A office building located at 485 Lexington Ave. in New York City. The subtenant, EdisonLearning, will be leasing the space, which is located on the building’s second floor, from Advance Magazine Publishing. Daoud Awad, Derek Trulson and William peters of JLL’s New York office represented EdisonLearning in lease negotiations. David Hollander, Ken Meyerson and Gregory Tosko of CB Richard Ellis represented the sublessor.
TUCSON, ARIZ. — CB Richard Ellis has brokered four leases at Tri-Pointe Plaza, a 153,000-square-foot office property located at 6367 E. Tanque Verde Rd. in Tucson. David Volk and Bruce Suppes of CBRE’s Tucson office represented the landlord, Los Altos, Calif.-based Tri Pointe Tucson, in the transactions. San Diego-based Sony Online Entertainment signed a 5-year lease for 10,823-square-feet of office space. Bob Davis and Howard Kong of Grubb & Ellis Tucson represented the tenant. Tucson-based Bayada Nurses Inc. signed a 7-year, 5,882-square-foot lease. Dr. Ellen Elchler inked a 7-year lease for 2,660 square feet of space. Additionally, Cory G. Hicks & Associates signed a 5-year, 2,150-square-foot lease. Tom Nieman of PICOR Commercial represented the tenant. Financial terms of the transactions were not disclosed.
ATLANTA — McLendon-Jones Enterprises has sold the 132,000-square-foot Atlanta Jobs Corps Center to Aroostook Property Management for an undisclosed price. Located at 239 W. Lake Ave. in Atlanta, the property was built in 1951 as an apartment complex and is now leased as an office building by the federal government. Jon Cunha and Michael Bull of Atlanta-based Bull Realty brokered the sale.