ATLANTA — Grubb & Ellis Realty Investors has acquired the 199,000-square-foot One Live Oak office complex, located at 3475 Lenox Rd. in Atlanta, from Fort Worth, Texas-based Crescent Real Estate Equities for an undisclosed amount. The property, which includes a seven-level parking deck, is 92 percent leased; tenants include the Securities and Exchange Commission, University of Georgia Real Estate Foundation and Corporate Offices Georgia. W. Hayes Swann and Matt Tritschler of New York City-based DTZ Rockwood represented Crescent.
SUNRISE, FLA. — Malvern, Pa.-based Liberty Property Trust has acquired a 106,910-square-foot office building from Real Estate Capital Partners for an undisclosed amount. Located at 13621 N.W. 12th St. in Sunrise’s 612-acre Sawgrass International Corporate Park, the property is 100 percent leased to UnitedHealthcare.
AUSTIN, TEXAS — Spear Street Capital has acquired Riata Corporate Park and Riata Crossing, a 1.1 million-square-foot, Class A office complex located in Austin. The sale included the eight-building Riata Corporate Park, the five-building Riata Crossing and two development sites that comprise the remaining developable space in the Riata master-planned development. The complex is approximately 99 percent occupied; tenants include Apple, Centex, NVIDIA Corp., Computer Associates, Janus Capital Group and Pervasive Software. The seller, an institutional investment partnership advised by JPMorgan Asset Management and Equity Office, was represented by the Dallas office of Holliday Fenoglio Fowler. The acquisition price was not disclosed.
OKLAHOMA CITY — The groundbreaking has been held for the new AAA Operations Center in Oklahoma City. The three-story, 147,000-square-foot building will be located at 3100 Quail Springs Pkwy., and will also include 1,000 surface parking spaces. It is applying for LEED-Silver certification from the U.S. Green Building Council. AAA will occupy the entire building upon completion in September 2009. Dallas-based Koll Development Co. is developing the project, with St. Louis-based Forum Studio serving as project architect. Locally based Timberlake Construction is providing general contracting services.
CARLSBAD, CALIF. — Windstar Carlsbad Office LLC purchased Floral Trade Center, a single-story, 154,400-square-foot office/warehouse facility located at 5600 Avenida Encinas in Carlsbad, for $20.5 million. The building is on a 12.7-acre property, which is entitled for a 276,900-square-foot office campus development. At the time of acquisition, the property was 98 percent occupied. Rick Reeder, Peter Curry, Matt Campbell and Brian Driscoll of Grubb & Ellis|BRE Commercial represented the buyer and the seller, Palama Huna LLC, in the transaction.
ATLANTA — Boston-based Winthrop Realty Trust, in a joint venture with Shreveport, La.-based Sealy & Co., has acquired a six-building, 469,667-square-foot office complex, located in Northwest Atlanta, from an undisclosed seller for $47 million. In the transaction, the venture assumed the building’s $37 million, 6.12 percent existing mortgage that will mature in November 2016. The property is 88 percent occupied and is expected to yield an 11 percent return.
ST. PETERSBURG, FLA. — Parkway Properties has sold the 17-story, 185,674-square-foot Wachovia Plaza, located at 150 2nd Ave. in St. Petersburg, to CNL Commercial Real Estate, a division of CNL Financial Group, for $26.3 million. The Class A office tower is 98 percent leased to 30 tenants, including Wachovia Bank, UBS Financial Services, H&R Block and Universal Health Care. Dale Peterson of CB Richard Ellis’ Tampa, Fla., office represented Parkway Properties.
TOLEDO, OHIO — Toledo-based companies Dana Holding Corp. and Health Care REIT have reached a contingent agreement for Dana Holding to sell its corporate headquarters property in Toledo to Health Care REIT for an undisclosed amount. The sale agreement, which is contingent on state and local authorities’ support, is expected to close by October. The 200,000-square-foot facility is located at 2500 Dorr St. Dana Holding will move its headquarters to an existing 200,000-square-foot building, which is located on a 30-acre site in the Toledo suburb of Maumee, Ohio. Under terms of the sale agreement, Dana Holding would vacate its Dorr Street facility by September 2009.
CHICAGO — Jones Lang LaSalle has represented BP in leasing 225,000 square feet of office space within the Chicago Mercantile Exchange, which is located at 10 & 30 South Wacker Drive in Chicago. BP’s United States supply, trading and fuels marketing team will relocated to the new facility, which is owned by Tishman Speyer. The new space will house approximately 1,000 employees on floors seven through nine and part of floor 10. BP will move into the building in the latter half of 2010. Elaine Melonides and Matt Carolan of Jones Lang LaSalle represented BP; Vicki Noonan and Eric Myers represented Tishman Speyer in-house. Terms of the long-term lease were not disclosed.
OTTAWA, KAN. — Marcus & Millichap has arranged the sale of a 13,006-square-foot Peoples Bank located in Ottawa. The net-leased bank had a sales price of $1.79 million. Tiger Real Estate Investments has acquired the facility from Sovereign Investment Co. Steve Strick in the St. Louis office of Marcus & Millichap represented the buyer; Glen Kunofsky in the New York City office of Marcus & Millichap represented the seller in the transaction.