TUCKER, GA. — Equity Capital Management has purchased a two-building, Class A office complex totaling 406,292 square feet, located at 2245 and 2247 Northlake Pkwy. in Tucker, from AT&T for $72 million. The three-story 2245 building and the 10-story 2247 building come with more than 1,500 parking spaces. AT&T executed a long-term leaseback on the property with the help of Jay Koster, Brad Armstrong, Mike Hochanadel and Chris Wagner of Jones Lang LaSalle.
DAYTON, OHIO — Cincinnati-based Grubb & Ellis|West Shell Commercial has brokered the sale of 40 West 4th Centre, a 222,000-square-foot, Class A office tower located at the corner of West 4th and Ludlow streets in Dayton. New York-based Matrix Capital Partners has acquired the 23-story building from Cincinnati-based Union Central Life Insurance Co. for $3.8 million. The facility includes a six-story parking garage with 360 spaces, an on-site restaurant, a fitness center and an executive conference center. Tenants at the property, which was 94 percent leased at the time of the sale, include Miami Valley Hospital, ORC Protel, E.S. Gallon & Associates and the state of Ohio. Jeff Johnston and Steve Timmel of Grubb & Ellis|West Shell Commercial, and Tom Nikolai of Mark Fornes Realty represented the seller in the transaction.
WEST CHESTER, OHIO — Duke Realty Corp. has been selected to construct a build-to-suit office campus for GE Aviation on a 43-acre site in the Cincinnati suburb of West Chester. The property, which housed the former Queen City Sports Complex, will include two 201,900-square-foot, L-shaped buildings. GE Aviation’s new development will consolidate 1,400 office personnel from three Cincinnati facilities, as well as provide space for future expansion. Construction on the two buildings is expected to begin this fall, with completion scheduled for the third quarter of 2009.
SCOTTSDALE, ARIZ. — BPG Properties Ltd., on behalf of BPG Investment Partnership VIII and VIII A L.P., has purchased Scottsdale Financial Center I, a 104,949-square-foot office building located in Scottsdale, for $19 million. The company has a $3 million renovation planned for the property, which is located at the corner of Scottsdale and Indian School roads. The capital improvement program includes renovating the common areas, including the lobbies, entrances, restrooms, corridors and landscaping, as well as the building’s HVAC and security systems. At the time of acquisition, the property was 75 percent occupied. Andrew White and Gardner Ellis provided in-house representation for the buyer; Jim Fijan and Jerry Roberts of CB Richard Ellis represented the undisclosed seller in the transaction. Don Mudd, Jason Moore, Brett Abramson and John Bonnell of Grubb & Ellis|BRE Commercial have been named exclusive leasing agents for the property.
NORTH HOLLYWOOD, CALIF. — Meridian Capital Group has arranged $61.97 million in ground-up construction and development financing for NoHo Commons Office Building (NoHo III), which will be located at 5250-5280 Lankershim Blvd. in North Hollywood. As the third and final phase of NoHo Commons, the nine-story, 180,000-square-foot office tower will feature a 700-space parking garage and a 24,500-square-foot art house theater. Designed by The Jerde Partnership, the property is also LEED Silver certified. NoHo Commons is a private-public partnership between JH Snyder Company and the Los Angeles City Redevelopment Agency. Allan Lieberman and Tal Savariego of Meridian’s New York office secured the loan on behalf of the borrower, JH Snyder Company.
LITCHFIELD, ARIZ. —San Francisco-based Giurland Inc. has acquired Litchfield Park Plaza I, a five-building office complex in Litchfield, for $3.8 million. Located at 501-555 E. Plaza Circle Dr., the property offers 23,691 square feet of office space. Giurland Inc. purchased the property through its advisory agent, San Francisco-based PSAI Realty Partners, from Modesta, Calif.-based LPPI LLC. Ray Harris, Eric Witchterman and Ann Sondrol of Grubb & Ellis|BRE Commercial represented both parties in the transaction.
RALEIGH, N.C. — Raleigh-based Dominion Realty Partners will break ground September 25 on the six-story, 134,152-square-foot Genworth Building, located on the corner of Monument Lane and Six Forks Road in Raleigh, with an aim for full occupancy by October 2009. The property is being built to Silver LEED standards and will serve as the new headquarters for Genworth Financial’s mortgage insurance business. Raleigh-based DTLB’s Hal Worth secured financing through M&I Bank, and Atlanta-based firms MSTSD Architects and Choate Construction and Raleigh-based Piedmont Land Design constitute the construction team.
CHICAGO — On behalf of Bank of America Corp., Jones Lang LaSalle has finalized the sale leaseback of 135 South LaSalle in Chicago. The landmark 1.25 million-square-foot property was acquired by AmTrust Realty Corp. for an undisclosed amount. Amenities at the 44-story office tower include a full-service retail bank, high-end cafeteria and bookstore. Members of Jones Lang LaSalle’s capital markets team involved in the transaction include Bruce Miller, Jim Postweiler, Bruce Westwood-Booth, Peter Harwood and Steve Smith.
BROOKFIELD, WIS. — Pewaukee, Wis.-based Capstone Quadrangle has announced plans for Percheron Square, a $32 million, 120,000-square-foot office building, which will be located along Interstate 94 on the Ruby Farm site in Brookfield. Milwaukee-based RFP Commercial will be working with Capstone Quadrangle on the Class A project. Ned Purtell of RFP Commercial will be representing the Percheron Square office development.
TULSA, OKLA. — KBS Real Estate Investment Trust (KBS) has acquired Meridian Tower, a 10-story, Class A office tower located at 5100 E. Skelley Dr. within the Yale Corridor/South Central submarket of Tulsa. Situated on 3.2 acres, the property comprises the 205,659-square-foot tower, as well as a four-level parking garage. It is 93 percent occupied by a tenant roster that includes Matrix Services Co., Tulsa Dental Specialties, Ram Energy Resources, TMA Systems and Enercon Services. Bill Rogalla of KBS provided in-house representation for the transaction. The seller, Trammell Crow Co., was represented by Gary Carr and Eric Mackey of the Dallas office of CB Richard Ellis (CBRE). Terry Payne and Mary Martin of CBRE’s Oklahoma office will handle leasing, and Peggy Davis, also of CBRE Oklahoma, will handle property management. The acquisition price was undisclosed.