DALLAS — Dallas/Fort Worth-based Realty Capital Partners (RCP) recently invested $1.3 million (through its recently formed RCP Northwest Crossing, Ltd.) in the acquisition of four Class B flex office buildings in Dallas. Located at the intersection of Northwest Highway and Loop 12, the buildings total 127,037 square feet. Felder Property Group, which approached RCP about the equity investment opportunity in May, will manage and lease the buildings.
Office
TIGARD, ORE. — Tualatin Valley Fire & Rescue has acquired Dartmouth Square, an office building located at 11945 SW 70th in Tigard, for $8.2 million. The three-story Class A property offers 38,000 square feet of office space. Chris Johnson, MaryKay West, John Medak and Jennifer Medak of NAI Norris, Beggs & Simpson represented the seller, Dartmouth Square LLC, in the transaction.
PORTLAND, ORE. — Ken Griggs and Paddy Ryan of NBS Financial Services has arranged a $5.5 million loan for the construction of a single-tenant office building in Portland. Located on NE Martin Luther King Jr. Boulevard, the 42,000-square-foot property is scheduled for completion at the end of the year. Washington Trust Bank provided the financing.
NAPLES, FLA. — Naples Lodge No. 2010 Benevolent and Protective Order Elks has sold a 27,474-square-foot building to Collier County for $3.5 million. The property stands on 6.74 acres of land at 3950 Radio Road in Naples. William Gonnering and Christine Gonnering Martin of Investment Properties Corp. of Naples brokered the sale.
NEW YORK CITY — Colliers ABR has negotiated a lease renewal and expansion at 595 Madison Avenue in Manhattan, New York City. Levin Capital Strategies, LP, an investment advisory firm, renewed and expanded its lease, taking 18,967 square feet on the 16th and 17th floors. David Hoffman of Colliers ABR represented Levin Capital Strategies in the transaction, and the building owner, Vornado Realty Trust, was represented by Glen Weiss and Ronald Lo Russo.
NEW YORK CITY — Greiner-Maltz has brokered a 5-year, 10,000-square-foot sublease for office space located at 33-10 Queens Blvd. in Long Island City in Queens, New York City. The space was subleased by FJC Security Company, the largest privately owned security company in America. Arie Zilka of Greiner-Maltz represented FJC Security Company, and George Margaronis and Decio Baio, both also of Greiner-Maltz, represented United Envelope in the transaction.
CRANBURY, N.J. — The Intent Group, a notebook computer wholesaler, has purchased a 10,000-square-foot condominium unit at the Matrix Corporate Campus in Cranbury. Owned by Matrix Development Group, the company recently acquired the campus from Preferred Unlimited, a Pennsylvania-based real estate investment firm. Located at Exit 8A of the New Jersey Turnpike, Matrix Corporate Campus contains more than 342,000 square feet of office, laboratory and flex space. Current tenants include the worldwide headquarters of Innophos Inc, a leading North American specialty phosphate producer.
HOUSTON — Dallas-based White Rock Commercial has disposed of West Pointe Center, a Class A office property the company recently constructed in Houston. The three-story, 170,823-square-foot building is located at 9420 W. Sam Houston Pkwy. Wade Bowlin and Doug Little of Houston-based PM Realty Group represented White Rock in the sale. The undisclosed buyer was represented by Bob Parsley and Bill Byrd of Colliers International. The sale price was not released.
TEANECK, N.J. — Japan Tobacco International (JTI) has moved into its new U.S. headquarters, located within Glenpointe Center West in Teaneck. The new 12,000-square-foot office contains five executive offices, 15 offices, 32 workstations, a conference room and a café-style pantry with a 55-inch, flat-screen television. The approximately $1 million interior build-out was completed on behalf of JTI by Livingston, N.J.-based Jarmel Kizel Architects & Engineers. The landlord and construction company responsible for the building is Alfred Sanzari Enterprises.
MINNEAPOLIS AND SHAKOPEE, MINN. — Twin Cities-based NAI Welsh has brokered three sales. In the first transaction, Yingua Academy Charter School has purchased the former Putnam Community School building, located at 1616 Buchanan St. in Minneapolis, for $3 million. Yingua plans to operate a private Chinese immersion school in the 45,280-square-foot facility starting in the 2009-2010 school year. Eric Rapp of NAI Welsh represented Yingua. The seller was Minneapolis Public Schools. Also in Minneapolis, Southwest Transit acquired a 95,821-square-foot industrial building, located at 4201 Norex Dr., for $4.3 million. The company plans to use the facility for its bus storage and service station. Brian Netz of NAI Welsh represented the seller, CSM Investors. Finally, Netz completed the sale of a 9,336-square-foot office building, located at 1335 10th Ave. in Shakopee. The property, which was acquired by Dr. Douglas Vayda for $1.15 million, will be primarily used for his orthodontist clinic. Additional space in the building will be made available for lease.