Office

INDIANA ORGAN PROCUREMENT ORGANIZATION ACQUIRES NEW HQ

by admin November 14, 2008

INDIANAPOLIS — The Indiana Organ Procurement Organization has purchased a 37,000-square-foot building located at 3760 Guion Rd. in Indianapolis. The facility, which will serve as the organization’s new headquarters, will provide expanded space for staff training, laboratory facilities and a new communications center. The organization will move into its new headquarters in March. Tim O’Brien of Indianapolis-based Resource Commercial Real Estate represented the buyer; CB Richard Ellis represented the seller in the transaction. The acquisition price was not disclosed.

November 14, 2008

MOINIAN LEASES SPACE AT 50 WEST 23RD STREET

by admin November 13, 2008

NEW YORK CITY — The Moinian Group has completed a lease for 22,831 square feet of office space at 50 West 23rd Street in Manhattan, New York City. The space will be occupied by Yodel, a locally based online advertising firm. The recently renovated office building offers entrances on 22nd and 23rd streets, as well as convenient access to Penn Station. Yodel will join a tenant roster that includes The Culinary Institute, Ask Jeeves, Touro College and International Center. Ground-floor retail tenants include Straight from the Crate, Reminiscence and Universal News. Sloane Rhulen of CB Richard Ellis represented Yodel in the lease transaction, while Michael Dreizen and Andrew Udis of Newmark Knight Frank represented The Moinian Group. Terms of the lease were not disclosed.

November 13, 2008

Midwest Office

NAI OLYMPIA PARTNERS BROKERS OFFICE TRANSACTION

by admin November 12, 2008

INDIANAPOLIS — Local brokerage firm NAI Olympia Partners has arranged the sale of the Arlington Professional Building located at 1213 N. Arlington Ave. in Indianapolis. The two-story, 27,130-square-foot office was acquired for an undisclosed amount. Tracey Holtzman and Michael Firsich of NAI Olympia Partners represented the undisclosed seller; Antone Najem Venture Real Estate represented the buyer, Statewide Property LLC, in the transaction.

November 12, 2008

Office Texas

G&E REALTY INVESTORS ACQUIRES 151,000-SQUARE-FOOT OFFICE BUILDING

by admin November 12, 2008

HOUSTON — Santa Ana, Calif.-based Grubb & Ellis Realty Investors has acquired Oak Park Office Center III, a two-story, 151,000-square-foot office building located in Houston’s Westchase submarket. Situated on 11.4 acres at 6001 Rogerdale Rd. within the 225-acre Oak Park at Westchase office park, the Class A building is occupied in its entirety by Jacobs Engineering Group, which is subject to a long-term, triple-net lease. It includes 855 parking spaces. The property was developed in 2008 by the Houston office of Myers Crow & Saviers, which is also the seller in the transaction. It was represented by Robert Williamson, Jeff Hollinden and Barbara Guffey of the Houston office of Holliday Fenoglio Fowler (HFF). The seller was also represented by HFF in the 2004 and 2008 sales of Oak Park Office Center I and II. The buyer made the acquisition on behalf of tenant-in-common investors.

November 12, 2008

Office Southeast

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

Midwest Office

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

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