ADDISON, TEXAS — The Dallas office of Holliday Fenoglio Fowler (HFF) has arranged $4.5 million in acquisition financing for the purchase of Addison II, a two-story, 181,000-square-foot office/flex property located in Addison. The property is situated on 11.2 acres at 4550 Excel Pkwy. and was 60 percent occupied at the time of closing. The financing contains a 5-year term and a 6.75 percent fixed interest rate. The lender was Aetna Health & Life Insurance and the borrower was Luzzatto Real Estate Value Fund I. Brandon Chavoya of HFF's Dallas office arranged the loan.
SOUTH SAN FRANCISCO, CALIF. — Jones Lang LaSalle has brokered Actelion Pharmaceuticals U.S.’s acquisition of a 138,399-square-foot office building, located at 5000 Shoreline Court within the 102-acre Sierra Point Business Park in South San Francisco. Texas-based real estate investor Archon Group was the seller. Jones Lang LaSalle’s Gregg Walker and Erich Sengelmann represented Actelion, a biopharmaceutical company, in the transaction. Archon was represented in-house.
LAS VEGAS — Marcus & Millichap has brokered the $5.35 million sale of Nucleus Plaza, a 77,188-square-foot office property located at 900 W. Owens Ave in Las Vegas. Marcus & Millichap’s Ned Zivkovic, Tina D. Taylor and Harry Delany represented the seller, a registered investment advisor out of New York. The buyer, a private investor, was represented by the brokerage firm’s Chris Cunning.
JACKSONVILLE, FLA. — Malvern, Penn.-based Liberty Property Trust has sold the 65,765-square-foot Bank of America Plaza to Acorn Ridge Plaza LLC for $4.12 million. The four-story property, which is 75 percent occupied, is located at 6622 S. Southpoint Dr. in Jacksonville. Karl Johnson of Cushman & Wakefield represented the seller.
JUPITER, FLA. — Redina Cos. is working toward a February 2011 completion of a 63,000-square-foot headquarters building for G4S Wackenhut, a security provider. The build-to-suit property will be located near the corner of Parkside Drive and University Boulevard in the Abacoa Town Center in Jupiter. The building will be constructed to green specifications and will house the firm’s sales and technology centers, training institute and additional business units.
ARMONK AND TARRYTOWN, N.Y. — Yonkers, N.Y.-based NAI Friedland Realty has brokered two New York office deals totaling approximately $11 million. First, SEMX Corp. sold a 43,700-square-foot office building located at One Labriola Ct. in Armonk to 30 Clairmont LLC for $4.7 million. Also, Children's Corner Learning Center signed a lease for 10,749 square feet of office space at 580 White Plans Rd. in Tarrytown for the operation of a daycare center. The lease is valued at approximately $6.3 million, and the landlord is RXR Realty. Both transactions were negotiated by Ellen Benedek and Carl Silbergleit with NAI Friedland.
NEW YORK CITY — Insurance and investment holding company C.V. Starr & Co. has signed a long-term lease for 141,000 square feet of office space at 399 Park Ave. in New York City. The company plans to use the space as its new world headquarters. It already occupies a full floor of the building but will now occupy three full floors, relocating employees from other New York-area offices to the new space. John Picco, David Stockel, August DiRenzo and Andrew Behymer of Cushman & Wakefield represented C.V. Starr in lease negotiations. The landlord, Boston Properties, was represented in-house by Andrew Levin and by CB Richard Ellis' Peter Turchin, John Powers and Greg Rothkin.
NEWPORT BEACH, CALIF. — S.K. Hart Properties has acquired Bayview Corporate Center, located at the intersection of Jamboree Rd., MacArthur Blvd. and the SR-73 Freeway in Newport Beach. Terms were not disclosed. Formerly the corporate headquarters of Downey Savings & Loan, the Class A office campus consists of two six-story towers connected by a three-story atrium and a five-level parking structure. The purchase marks S.K. Hart Properties’ entry into the Orange County commercial real estate market.
DENVER — Catholic Health Initiatives has reserved 100,000 square feet of space for an 11-year term at 198 Inverness Drive West, an eight-story, Class A office building that Lowe Enterprises acquired in 2006. CHI plans to begin relocating its associates to the southeast Denver location in June. CB Richard Ellis’ John Marold represented Lowe in the transaction, and Cushman & Wakefield’s Nick Pavlakovich represented CHI. The office development was certified LEED Gold in September.
EL CENTRO, CALIF. — Sperry Van Ness has handled the sale of an 18,000-square-foot office building located at 1625 W. Main St. in El Centro. The property, which is leased to the Superior Court of California on a new 10-year term, was purchased by an institutional buyer in an all-cash transaction. Tony Gild of Sperry Van Ness in San Diego represented the seller.