HONOLULU — Unite Here! Local 5 has purchased a freestanding office building, which is located at 1516 S. King St. in Honolulu. The 10,200-square-foot building is situated on 14,015 square feet of fee simple land. Shiseido sold the property for an undisclosed price. Financing was provided by First Hawaiian Bank. Ronald Ward of Colliers Monroe Friedlander represented the buyer in the transaction.
Office
HAMPTON ROADS, VA. — Jackson, Miss.-based Parkway Properties has sold the 82,000-square-foot Lynnwood Plaza, an office property in Hampton Roads, to an undisclosed buyer for $7.8 million. The plaza is currently 96.7 percent occupied. The sales price represented an 8.4 percent cap rate on 1 year of projected net operating income.
WENTZVILLE, MO. — St. Louis-based Kwame Building Group has completed the new corporate headquarters building for 1st Financial Credit Union in Wentzville. The 23,000-square-foot facility also serves as a retail branch location for the company. The two-story building includes an atrium lobby with a children’s corner, an employee break room/kitchen, a patio balcony, a training room for community seminars, five walk-up teller stations, four drive-through lanes and a drive-up ATM. The headquarters houses 1st Financial Credit Union’s executive staff, collections, accounting, marketing, business services, human resources and compliance departments. Kwame served as construction manager and owner representative; St. Louis-based United Construction was the general contractor and Tri Architects was the designer for the project.
NEW YORK CITY — New York City-based The Sapir Organization has leased 65,000 square feet of office space to Interactive Data Corp. (IDC) within Manhattan’s 100 Church Street building. IDC will initially occupy 51,000 square feet of the tower, followed by 14,000 additional square feet on the 11th floor during the next 5 years. It will relocate 212 employees within its Pricing & Reference Data division to the new office from its current midtown Manhattan offices. IDC plans to take occupancy in November. CB Richard Ellis’ Stephen Siegel, Howard Fiddle, Brad Gerla, Zachary Freeman and Gerry Miovski represented the landlord. Richard Berzine, Robert DeAngelis and Richard Fenn of Richard Berzine & Co. represented the tenant. The 100 Church Street building is a 21-story, 1.12 million-square-foot office tower that was built in 1958 and is currently undergoing a multi-million dollar capital improvements program. Tenants in addition to IDC include Niche Media, Regus HQ, New York City Law Department, New York City Mayor’s Office and CCA.
ORANGE COUNTY, CALIF. — Colliers International has brokered two transaction totaling $6.6 million in Orange County. In the first transaction, The Peaches Trust acquired a 16,047-square-foot office building, which is located at 1901 Dove St. in Newport Beach, Calif. WB Commerce Plaza sold the property for $5.5 million. Stephen Schloemer of Colliers International represented the buyer; Bob Davis of Grubb & Ellis represented the seller in the transaction. In the second transaction, Ajit Randhava & Associates purchased a 5,334-square-foot office building, which is located at 2564 W. Woodland Ave. in Anaheim, Calif. Ho Family Trust sold the property for $1.1 million. Kathe Morgan of Lee & Associates represented the buyer; Brad Christian of Colliers International represented the seller in the transaction.
TAMPA, FLA. — Capital Realty Grand Oak has received a $10 million first mortgage for a 67,917-square-foot office building leased to the Veterans Administration. The property is located at 8900 Grand Oak Circle in Tampa. Grosvenor Investment Management US provided financing for the 10-year loan, which comes with a 25-year amortization rate. Robert Hernandez of NorthMarq Capital’s Tampa office secured the loan.
TRUMBULL, CONN. — New Boston Fund has leased 45,615 square feet of office space to Sun Products Corp. in Trumbull. Sun Products will occupy the entire building, which is located at 30 Trefoil Dr. within Trefoil Corporate Park, for a 15-year term. The building will undergo a complete renovation to accommodate Sun Products’ needs. The facility will be used by the company for the research, development, testing and quality control of its laundry detergent product line. Cushman & Wakefield’s (C&W) Tom O’Leary represented New Boston Fund in lease negotiations, while C&W’s Gregory Frisoli represented Sun Products Corp. New Boston Fund originally acquired the five-building Trefoil Corporate Park in 1998.
ORANGE, CONN. — Orange-based Fischer Real Estate has brokered a 40-year ground lease for 22 acres located at the interchange of Interstate 95 and Marsh Hill Road in Orange. The tenant, United Illuminating Co., plans to construct a new 140,000-square-foot corporate headquarters on the site. Alan Fischer of Fischer Real Estate represented the landlord, the Foyer family, while Les Cranmer of the Philadelphia office of Studley represented United Illuminating. In addition to the initial 40-year term, the lease contains a 40-year extension option, as well as a limited-condition purchase option. United Illuminating recently purchased the 34-acre former Showcase Cinema site located adjacent to the 22-acre parcel. Both sites will be used to consolidate the company’s operations.
NAPLES, FLA. — The Adler Group of Miami has received a $22 million loan for the purchase of two business parks totaling 252,422 square feet. Collier Park of Commerce and Commerce Center encompass 11 buildings near the Naples Municipal Airport in Naples. Financing for the loan was provided by Mercantil Bank of Venezuela. New York-based Cushman & Wakefield Sonnenblick Goldman secured the loan.
CHICAGO — The audit, tax and advisory firm KPMG LLP has signed a 15-year lease for 260,000 square feet of space within Aon Center, an office tower located in Chicago. Amenities at the building, which is owned by Atlanta-based Piedmont Office Realty Trust, include the Mid America Club, Café 200 — a 250,000-square-foot, full-service dining facility and a 243-sear auditorium. Additionally, Aon Center has direct internal access to the Fairmont Hotel and the seven-story Lakeshore Athletic Club. KPMG is relocating its Chicago office from 303 E. Wacker Dr. Beginning in August 2012, the company’s 1,700 Chicago employees will occupy floors 53 to 61 of the office tower.