SAN MARCOS, CALIF. — Sawtooth Development Group has completed the first two phases of Windy Point Corporate Center, a master-planned three-phase complex in San Marcos. The University of St. Augustine for Health Sciences is leasing a total of 75,000 square feet of space at the center, including 30,000 square feet in the first phase, 20,000 square feet in the second phase and 25,000 square feet in the third phase. The first phase of the complex features 40,000 square feet in two buildings. Construction on phase three is slated to begin in November with completion scheduled for November 2010. Peter Curry and Matt Campbell of Grubb & Ellis|BRE Commercial represented the lessee; Curry, Campbell and Mike Erwin, also of Grubb & Ellis|BRE, represented the landlord in the lease transaction.
TAMPA, FLA. — Orlando, Fla.-based Eola Capital has acquired a 130,000-square-foot office building from an undisclosed seller for an undisclosed price. The property is located at 500 N. Westshore Boulevard in Tampa and is 90 percent leased. Christian Lee of CB Richard Ellis’ Miami office and Dale Peterson and Ginger Gelsheimer of the firm’s Tampa office brokered the sale.
RALEIGH, N.C. — PPPV has sold an 18,300-square-foot office building to 5560 Munford Partners for more than $2.3 million. The building, which will be used by the non-profit group Telamon, is located at 5560 Munford Rd. in Raleigh. Stewart Patch of Raleigh-based Coldwell Banker Commercial TradeMark Properties represented the seller. Kyle Greer of Raleigh-based NAI Carolantic Realty represented the buyer.
OMAHA, NEB. — Locally based Lockwood Development has completed Lindsay Corp.’s 30,000-square-foot headquarters building located at 110th and Blondo streets within the Blondo Office Park in Omaha. Lockwood Construction, a subsidiary of Lockwood Development, led the building effort for the three-story facility. Lindsay Corp. plans to take occupancy at its new building on February 22nd. The cost of completing the build-to-suit facility was not disclosed.
NEW YORK CITY — New York-based Time Equities has completed the sale of a 2,337-square-foot office condominium, located within Diplomat Centre at 820 Second Ave. in New York City, for $1.7 million. The condo was acquired by K&A Medical Management, which will locate to the sixth floor of the 19-story building. Other tenants include Dr. Barron Lonner, the Government of Croatia and the Republic of Angola, as well as several non-profit organizations and medical professionals. Michael Rudder of Time Equities represented the seller, Diplomat Centre LLC; Rudder is also heads the group of investors that comprise Diplomat Centre LLC. Acquisition financing was provided by Long Island Development Corp. and Banco Popular.
HOUSTON — The Houston office of Hines has announced that the company’s 717 Texas office building, located in the central business district (CBD) of Houston, has received the silver level of LEED – Existing Buildings: Operations & Maintenance certification from the U.S. Green Building Council. This makes the 33-story, 696,000-square-foot tower the first commercial office building in Houston’s CBD to receive the designation. The building participated in the LEED Core & Shell pilot study in 2002, and it has also received the Energy Star label from the Environmental Protection Agency. Sustainable features include a green and reflective roof on the parking garage, an air purification system, filtered drinking water, low-flow restroom fixtures and a building-wide recycling program. The property is fully occupied by a tenant roster that includes Avalon Advisors, Calpine Corp., Charter Title, Crimson Exploration, Jones Day, Kayne Anderson, Plains Explorations, Rosetta Resources, Smith Barney and TransCanada. The property was developed by Hines, and is currently owned and managed by the company, as well.
TROY, MICH. — L. Mason Capitani has brokered the sale of Koltanbar Engineering’s 39,058-square-foot headquarters building located in Troy. Locally based JLC Maple LLC has purchased the facility, and has plans to reconfigure the property for multi-tenant use. The asking price for the building was $1.4 million. Gary Grochowski and Mason Capitani of L. Mason Capitani represented the buyer; Grochowski and Garry Rogers, also of L. Mason Capitani, represented the seller in the transaction.
CASTAIC, CALIF. — Castaic Universal Investors LLC has completed the development of Castaic Lake Plaza, a two-building complex located at 31905 and 31929 Castaic Rd. in Castaic. The project consists of a 15,000-square-foot Class A medical/professional office building and a 7,500-square-foot retail building, which is divisible to 750 square feet. Initial tenant occupancy for both buildings is slated for summer. The Equipoise Group and PacifiCal Development developed the project. Calabasas, Calif.-based Leslie Lippich Architect & Associates provided architectural services; Burbank, Calif.-based McCormick Construction served as general contractor for the project.
LAS VEGAS — Clark County’s political subdivision has signed a 10-year lease for 103,308 square feet of office space at Greystone Office Park in Las Vegas. The property is located at 1850 and 1900 E. Flamingo. The lease is valued at $27.1 million with an average monthly rental rate of $2.18 per square foot. Coldwell Banker Commercial represented the lessee. The lessor was not disclosed.
WILMINGTON, DEL. — Construction is under way for the Star Building, a 163,800-square-foot office building located at 123 Justison St. in Wilmington. Upon completion in early 2010, the building will rise seven stories and include 25,000-square-foot floor plates. It will contain on-site and structured parking. The building is also located near the Wilmington riverfront, which is currently undergoing a revitalization. William Netta Architects is designing the project, with Newport, Del.-based Pettinaro Management providing leasing services.