Office

STRAYER LEASES SPACE IN HERNDON OFFICE PROPERTY

by admin November 11, 2008

HERNDON, VA. — Strayer Education will move from its current headquarters in Arlington, Va., into 104,914 square feet of Class A office space in Dulles Station East in early 2010. Strayer will occupy the top three floors and 5,000 square feet of the first floor in the building, located at 2303 Dulles Station Blvd. in Herndon. Strayer has signed a 12-year lease for the office space. The six-story office tower is part of Dulles Station, a mixed-use project that will include 993 residences, 1.2 million square feet of office space, 58,000 square feet of retail space and two hotels. Cushman & Wakefield’s Lou Christopher represented Strayer Education, and Jeff Roman and Mike Pepper of CB Richard Ellis represented the landlord, Crimson Partners.

November 11, 2008

MARCUS & MILLICHAP BROKERS MULTI-TENANT OFFICE BUILDING SALE

by admin November 11, 2008

SOUTH BEND, IND. — Marcus & Millichap has completed the sale of a multi-tenant office building located in South Bend. The Park View Atrium measures 36,629 square feet in size. Both the buyer and seller of the property were not disclosed. Jon Abuja and Raymond Sansonetti in the Chicago Downtown office of Marcus & Millichap represented both parties in the transaction. The property was sold for 96 percent of the list price.

November 11, 2008

Northeast Office

LANDMARK COMPLETES 13,000-SQUARE-FOOT OFFICE SALE

by admin November 11, 2008

MECHANICSBURG, PA. — Lemoyne, Pa.-based Landmark Commercial Realty has completed the sale of a 13,000-square-foot office property located at 6 Kacey Court in Mechanicsburg. The property traded at a price of $1.63 million. Thomas Posavec of Landmark arranged the sale between the buyers, David and Sally Ann Young, and the seller, Jolene Cocciardi.

November 11, 2008

Office Western

17,500 SQUARE FEET OF OFFICE SPACE FETCHES $3.8 MILLION

by admin November 11, 2008

SAN DIEGO — Gregory McQuerter has purchased the second and third floors of WaterGarden Business Centre, a three-story, 26,000-square-foot office building located at 5755 Oberlin Dr. in the Mira Mesa area of San Diego. The 17,500-square-foot space sold for $3.8 million. Barry Mahlberg of Cushman & Wakefield represented the buyer; Andrew Ewald of Grubb & Ellis|BRE Commercial represented the seller, WG Oberlin LLC, in the transaction.

November 11, 2008

Office Southeast

43,200-SQUARE-FOOT MARIETTA OFFICE PARK PLANNED FOR NEXT YEAR

by admin November 10, 2008

MARIETTA, GA. — Helton Real Estate Advisors will break ground next year on the 43,200-square-foot Sanctuary Park West office property. The development, located at the intersection of Barrett Parkway and Dallas Highway in Marietta, will also include a 15,000-square-foot fitness center. Site work is slated to begin next March, and construction will start in July. The fitness center and 20,000 square feet of office space will deliver by the end of 2009.

November 10, 2008

Midwest Office

CB RICHARD ELLIS|BRADLEY BROKERS 38,844-SQUARE-FOOT OFFICE SALE

by admin November 10, 2008

MISHAWAKA, IND. — South Bend, Ind.-based CB Richard Ellis|Bradley has brokered the acquisition of an office building located at 4215 Edison Lakes Pkwy. within the Edison Lakes Corporate Park in Mishawaka. The Three Edison Lakes building measures 38,844 square feet in size. GLC Acquisitions has purchased the Class A building from an undisclosed seller for a sales price of $4.75 million. Tenants at the property include St. Joseph Regional Medical Center, Russian-Ferro-Alloys Inc. and Indiana Tech. Brad Toothaker and Regina Emberton of CB Richard Ellis|Bradley represented the buyer in the transaction.

November 10, 2008

Midwest Office

PEARL PROPERTIES PURCHASES OFFICE SPACE WITHIN 55 WEST WACKER

by admin November 10, 2008

CHICAGO — Philadelphia-based Pearl Properties has purchased 15,188 square feet of office space within Cape Horn Group’s 55 West Wacker building in Chicago. Situated in the middle of downtown, the 15-story building measures 209,000 square feet in size. Pearl Properties has purchased the entire second floor and mezzanine space, which was previously leased to a national credit tenant. Pearl Properties leases the space to a subsidiary of a Chicago-based company with its worldwide headquarters nearby. The company uses the space as an employee fitness center and makes it available for a fee to owners at 55 West Wacker. The seller, Cape Horn Group, was represented in-house by Juan DeAngulo; Shaun Lyons of Precision Realty Corp. represented Pearl Properties in the transaction.

November 10, 2008

Northeast Office

MARCONE CAPITAL ARRANGES $10.75 MILLION LOAN FOR MULTI-USE PROPERTY

by admin November 10, 2008

NEWTON, MASS. — Quincy, Mass.-based Marcone Capital has arranged a $10.75 million loan for University Business Center, a 66,175-square-foot retail/office/flex industrial property located at 19-33 Needham St. in Newton. Situated on 2.51 acres, the property comprises three buildings, including a freestanding National Tire & Battery store, a single-story office building, and a two-story, office and industrial flex building. Mike Marcone of Marcone Capital arranged the financing on behalf of the borrower, KSKIM UBC Equity Partners LLC, which is an entity controlled by the owner of KS Partners, Kambiz Shahbazi. The borrower plans to use the financing to redevelopment a portion of the property. Tenants on the first floor of the flex building will be relocated, and the space will be converted for retail use. The lender was a regional bank. Terms of the financing include a floating interest rate below 5 percent.

November 10, 2008

Office Texas

LAW FIRM RELOCATES TO LINCOLN PLAZA

by admin November 10, 2008

DALLAS — Business law firm Scheef & Stone has relocated its corporate headquarters to Lincoln Plaza, located at 500 North Akard in downtown Dallas. The company will occupy 25,436 square feet on the 27th floor of the tower. Scheef & Stone is relocating from its previous Dallas office within Preston Center, located at 5956 Sherry Lane. The company expects to move to its new location by the end of the month. William Hale of the Dallas office of CB Richard Ellis represented the landlord, The California State Teachers’ Retirement System. The tenant was represented by Bo Bond and Brooke Armstrong of Jones Lang LaSalle. Terms of the lease were not disclosed.

November 10, 2008

Northeast Office

URDANG DISPOSES OF $81.77 MILLION OFFICE BUILDING

by admin November 7, 2008

WHITE PLAINS, N.Y. — URDANG has disposed of a 320,000-square-foot office building, located at 1311 Mamaroneck Ave. in White Plains, for $81.77 million. Situated on 25 acres, the building includes a full-service cafeteria, a fitness center, a parking garage and concierge services. Tenants at the fully occupied building include Acadia Realty and OrthoNet. Jonathan Davis, John Saraceno, Vincent Sanfilippo and David Spoont of Onyx Equities negotiated the sale on behalf of URDANG. Matthew Keefe of HK Group represented the undisclosed buyer.

November 7, 2008

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