WARREN, MICH. — L. Mason Capitani has arranged the sale of a 15,000-square-foot office building located at 29421 Ryan Rd. in Warren. Summit Oral & Maxillofacial Surgery has purchased the medical office facility from Warren Bank for an undisclosed amount. Summit Oral & Maxillofacial, which has three other offices in Michigan, is expanding from its current Warren location. Al Iafrate and Phil Myers of L. Mason Capitani represented the seller in the transaction.
NEWARK, N.J. — Two Gateway Center, an 832,000-square-foot office building located in Newark, has received the Energy Star designation from the Environmental Protection Agency. Originally constructed more than 35 years ago, the property has undergone significant renovations to increase energy efficiency. These include the replacement of all of the building’s lights and ballasts, the HVAC equipment, motors and elevators. New building automation systems were installed, motion sensors were installed in all offices and VFDs were built on the building’s HVAC systems. These steps have reduced the building’s annual operating expenses by 20 to 25 percent. Two Gateway Center is owned by Manhattan, New York City-based C&K Properties. CB Richard Ellis serves as exclusive leasing agent, with Cushman & Wakefield providing property management services.
DALLAS — The Texas Capital Bank Building, a 20-story, 507,000-square-foot office building located at 2000 McKinney Ave. in uptown Dallas, has opened. The tower, which was designed by HKS Inc., includes street-level restaurant and retail space, a 1,300-space parking garage built into the building’s base and 15 residential units along the building’s Woodall Rodgers Freeway frontage. The property’s office component is currently 35 percent occupied by a tenant roster that includes Texas Capital Bank and Corrigan Properties. Occupancy will increase to more than 80 percent by late spring when Lincoln Property Co. takes moves into its offices.
ORLANDO, FLA. — The Pizzuti Cos. will break ground on a 160,000-square-foot office property at 777 N. Orange Ave. in Orlando later this year. The Class A building will be constructed to LEED specifications and will house 10,000 square feet of ground-floor retail space. Orlando-based HuntonBrady Architects is designing the property, and Birmingham, Ala.-based Brasfield & Gorrie will serve as the general contractor. Pizzuti is aiming for a January 2011 completion.
FAIRFAX, VA. — Long Island, N.Y-based Gyrodyne Co. of America will purchase the 59,108-square-foot Fairfax Medical Center from an undisclosed party for $13.2 million. The property, which encompasses two four-story buildings on 3.5 acres of land, is located at 10721 Main St. in Fairfax. Fairfax Medical Center is 84 percent occupied by 28 tenants. Gyrodyne anticipates closing on the purchase no later than April 30.
CANTON, GA. — Aurelius Holdings and Canton-based Highridge Partners are predicting a summer completion of the 24,000-square-foot 151 Main. The $5.5 million Class A office building is located in downtown Canton. The property will house office suites and ground-level retail space.
FLORHAM PARK, N.J. —Saiber LLC has signed a lease for more than 54,000 square feet of office space at 18 Columbia Turnpike in Florham Park. The law firm was originally based in Newark. It will be relocating its headquarters to the Florham Park office, which is located within Westminster Corporate Campus, a five-building, 180,000-square-foot office property. The space Saiber is leasing was originally occupied by Kushner Companies, which recently relocated its corporate headquarters to New York City. The company still maintains control over the property. Saiber will take occupancy in November. Terms of the lease were not disclosed.
DALLAS — The Dallas office of Transwestern has been selected to manage a 2 million-square-foot portfolio owned by Energy Future Holdings, a privately held energy company with a portfolio of regulated energy subsidiaries that includes Luminant, Oncor and TXU Energy. The most notable property that Transwestern will now manage is Energy Plaza, a 48-story, 1.2 million-square-foot office building located at 1601 Bryan St. in downtown Dallas. The Transwestern team responsible for the portfolio includes Kim Brooks, Jeff Anderson, Mike Ogden, Jeff Shea and Jim Graham. Brooks and Anderson will oversee leasing and marketing efforts for Energy Plaza, while Shea will oversee management of the property. Graham will facilitate lease administration for the portfolio and Ogden will provide senior management oversight.
HAYWARD, CALIF. — ProTransport-1 LLC has acquired an 8,882-square-foot building, which is located at 31909 Hayman St. in Hayward, for $998,500 or $112 per square foot. The buyer, a provider of medical transportation and ambulance transport, plans to use the facility for ambulatory use. The seller was Whipple LLC. Richard Fenske of NAI BT Commercial and William Snell of Touchstone Properties represented the buyer in the transaction.
BALTIMORE — Bethesda, Md.-based Walker & Dunlop has arranged loans totaling more than $47 million for two Class A office properties in Baltimore. The 500,000-square-foot Hunt Valley Executive Plaza received a $30.3 million loan, and the 200,000-square-foot Seminary Galleria received a $16.75 million loan. A major life insurance company provided financing for the loans. Walker & Dunlop’s Mike Yavinsky and Tyler Blue negotiated the transactions.