BREA, CALIF. — Gary Griggs and Brett Cervantes of Marcus & Millichap have completed the disposition and acquisition of North Hills Professional Plaza, an 11,800-square-foot office complex. Located at 255 W. Central Ave. in Brea, the property sold for $2.6 million. Built in 1997, the two-story property was 100 percent occupied at the time of acquisition to eight medical and professional tenants. The seller and buyer were not disclosed.
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NAPERVILLE, ILL. — Calamos Real Estate LLC has secured a 33,778-square-foot office lease within its CityGate Centre development, which is located at the intersection of Interstate 88 and Route 59 in Naperville. PMA Financial Network has leased the office space in order to house its corporate headquarters. The approximately 212,000-square-foot LEED-Silver certified building is now 50 percent occupied. Additional tenants within the building include Citi Smith Barney and Amata Office Suites. The CitiGate Centre project, which is currently underway, is slated to include approximately 1 million square feet of high-end corporate office space, as well as 150,000 square feet of specialty retail and restaurants. The 144-room Hotel Arista is also located at the mixed-use development. Dru Shoemaker, Brian Whiting and Jack McKinney of J.F. McKinney & Associates represented the developer, Calamos Real Estate LLC, in lease negotiations. Keith Cade of Newmark Knight Frank represented PMA Financial Network in the transaction. Terms of the lease were not disclosed.
LINCOLNSHIRE, ILL. — Zebra Technologies has signed a lease for 44,400 square feet of space within a Class A office building located at 475 Half Day Rd. in Lincolnshire. The 142,000-square-foot building is situated within the 70-acre Millbrook Business Center in Buffalo Grove/Lincolnshire. The office will serve as Zebra Technologies’ corporate headquarters, which will house the company’s senior executives and corporate functions. The company’s North American sales, marketing and operations groups, Cless Technology Center, and distribution functions will remain in Vernon Hills, Ill. Dan Fernitz and John Clark of Jones Lang LaSalle represented the building ownership, Millbrook Real Estate Co., during lease negotiations. Zebra Technologies was represented by Scott Brandwein and Sean Kropke of CB Richard Ellis.
MALVERN, PA. — Binswanger has represented VWR International LLC in its 150,000-square-foot build-to-suit corporate headquarters lease located within Worthington Town Center in Malvern. The 1.6 million-square-foot Worthington Town Center mixed-use development is owned by O’Neill Properties Group. The building that VWR will occupy will total 240,000 square feet, and is slated to include a major fitness center as well as several restaurants. In addition to brokering the transaction, Philadelphia-based Binswanger will act as project manager for VWR’s headquarters. VWR is expected to move its existing West Chester, Pa., operation to the new location in the third quarter of 2010. David Binswanger and Scott Grabrielsen represented VWR in negotiations.
WEST PALM BEACH, FLA. — New York City-based Cohen Commercial Properties has purchased the 66,130-square-foot Datura Place office property from an undisclosed party for an undisclosed amount. The building is currently fully leased and is located in downtown West Palm Beach. The firm purchased the property because of its location, appealing aesthetics and below-market rents.
CHICAGO — AT&T has signed a long-term lease renewal for 171, 386 square feet within the Apparel Center, which is located at 350 North Orleans St. in Chicago. The space houses a training center, a call center and other office functions in support of AT&T’s telecommunications and U-Verse product offerings. AT&T, which has been a tenant in the building since 1989, is the largest tenant within the facility. George Kotrogiannis and Kurt Kittner of Jones Lang LaSalle represented AT&T in the lease transaction. CB Richard Ellis represented the landlord, Mart Properties, which is a subsidiary of Vornado Realty Trust, in negotiations. Additional terms of the lease were not disclosed.
NORWELL AND SOUTHBOROUGH, MASS. — Quincy, Mass.-based Marcone Capital has arranged a total of $13.75 million for two Massachusetts office properties. In the first transaction, Mike Marcone of Marcone Capital secured $7.35 million in permanent financing for 600 Coordwainer Dr, a 54,000-square-foot office building situated on approximately 5.3 acres within Accord Business Park in Norwell. The borrower was 600 Coordwainer Drive LLC, an entity controlled by James Rader of Rader Properties. The lender was a regional bank. Mike Marcone also arranged a $6.4 million permanent loan for 333 and 337 Turnpike Street, two office buildings located in Southborough. Both properties are two stories and consist of 39,774 and 36,728 square feet, respectively. The borrower was Southborough Equity Partners LLC, an entity controlled by Kambiz Shahbazi of KS Partners. The lender was a regional bank. Terms of both loans were undisclosed.
MESA, ARIZ. — Troilo Family Trust has acquired a 15,950-square-foot office property, which is located within Odyssey Professional Park in Mesa. Odyssey Commercial sold the property for $2.7 million. Sarah Weddle of GPE Commercial Advisors represented the seller in the transaction.
BOCA RATON, FLA. — JARI Research Corp., Schmitt & Rossi and TLFO have signed a 143,000-square-foot lease with BRE/Boca Corporate Center for space in its Boca Raton Corporate Park and Campus. The three companies — a cancer research firm, an art company and a data processing firm, respectively — will be housed at 4530 Conference Way South in Boca Raton. Reichel Realty and CB Richard Ellis brokered the transaction.
VIRGINIA BEACH, VA. — Chesapeake, Va.-based Mid-Eastern Builders has completed construction on the 35,000-square-foot Metroplex One office building. Located at the intersection of Regent University Drive and Midtowne Way in Virginia Beach, tenants in the building include the American Center for Law and Justice, Trinity Broadcasting Network and Regent University’s School of Global Leadership and Entrepreneurship. Still in the planning stages, Metroplex II and III will span 140,000 square feet. A 500-acre mixed-used project is also planned.