HAUPPAUGE, N.Y. — Morristown, N.J.-based The Hampshire Companies has acquired two properties located in Hauppauge from Siemens Energy & Automation. The properties comprise a 20,000-square-foot office building located at 155 Plant Ave. and an adjacent, 32,500-square-foot industrial building located at 75 Oser Ave. Both buildings were fully occupied at the time of closing. Hampshire made the purchase on behalf of Hampshire Partners Fund VII, one of its real estate investment funds. The acquisition price was not disclosed.
KEYPORT, N.J. — Woodbridge, N.J.-based The Kislak Company has brokered the sale of Keyport Plaza, a two-building office complex located at 25 E. Front St. in Keyport, for $2.27 million. Situated on 1.5 acres, the property contains a total of 21,000 square feet of Class A space; it was fully occupied at the time of closing. Kislak’s Joe DeFeo represented the seller, a New Jersey-based developer and investor, and Barry Waisbrod, also of Kislak, represented the buyer, First Property Management Solutions. The property traded at a 9 percent capitalization rate.
LAS VEGAS — TNP Vulture Fund VIII has sold a 45 percent interest in an 11-story office building and adjacent four-story parking structure to TNP/SLI Green Building Fund for an undisclosed price. Located at 302 E. Carson in Las Vegas, the property was originally purchased in 2008 from Barden Entertainment Group. The owners plan to renovate the vintage 1965 building to meet LEED Silver certification. Partners in the project include the co-owners and Shangri-La Construction. Completion is scheduled for mid-2009.
MIAMI — Hollywood, Fla.-based John Moriarty & Associates will complete vertical construction on the 600,000-square-foot Brickell Financial Centre on Friday. The 40-story project, which consists of office and retail space, is being developed by Miami-based Foram Development and has been constructed to Silver LEED certification. The building is located at 600 Brickell Ave. in Miami.
NEW HARTFORD, N.Y. — CB Richard Ellis/Syracuse (CBRE) has brokered the purchase of an 84,800-square-foot office building located in New Hartford for $3.45 million. The building is situated on 40 acres at 4401 Middle Settlement Rd. It was acquired by Utica, N.Y.-based St. Elizabeth’s Medical Center, which was represented by CBRE’s Peter Finn and Larry Van Der Bogart. The buyer plans to use the building to continue its expansion and will take occupancy in the spring or summer after an interior build-out is complete. The Utica office of Pyramid Brokerage Co. was the listing agent in the transaction; the seller was New Hartford Plaza LLC. The building was formerly occupied by The Hartford Insurance Companies; Finn and Van Der Bogart assisted the company in finding a new office within nearby New Hartford Office Park.
RED BANK AND CLARK, N.J. — Edison, N.J.-based Mack-Cali Realty Corp. has received a total of $64.5 million in financing for two New Jersey office properties. In the first transaction, Mack-Cali secured $44.9 million for One River Centre, a three-building office complex located at 331 Newman Springs Rd. in Red Bank. The property contains approximately 480,000 square feet of Class A space. In the second transaction, Mack-Cali secured $19.6 million for a 182,555-square-foot, Class A office building located at 100 Walnut Ave. in Clark. Both loans carry 10-year terms and 7.25 percent interest rates. The lender was Guardian Life Insurance Company of America.
NEW YORK CITY — Rudin Management Co. has secured a lease for the expansion of Verizon Business Services at 560 Lexington Avenue, a 22-story office tower located in Manhattan, New York City. Verizon will lease an additional three floors totaling 49,815 square feet for a 7-year term. This brings its total space leased in the building to seven floors comprising approximately 116,000 square feet—making it the largest tenant in the tower. Thomas Keating of Rudin Management Co. represented the landlord, the Rudin Family. Cushman & Wakefield’s Jeffrey Heller represented Verizon.
RENO, NEV. — Los Angeles-based Majestic Bell LLC, an affiliate of Majestic Investments LLC, has acquired an 82,934-square-foot office building in Reno for $12 million. Situated on a 6.21-acre site, the property is fully occupied by AT&T, which signed a 10-year NNN lease at closing of escrow. Majestic was represented by Cameron Pacific, the acquisition and finance arm of Majestic Investments; AT&T was represented by CB Richard Ellis. The seller was not disclosed.
GREENVILLE, S.C. — Malvern, Pa.-based Liberty Property Trust has sold a 300,000-square-foot portfolio of six Class A office buildings to an undisclosed buyer for $35 million. The space is located in the Independence Corporate Park in Greenville. Ryan Clutter of CB Richard Ellis’ Charlotte, N.C., office represented the seller.
CHICAGO — IDEO, a global innovation and design firm, has signed a lease for 20,442 square feet within an eight-story redeveloped office building located at 626 W. Jackson Blvd. in Chicago’s West Loop. Chicago-based Sterling Bay Cos., in partnership with The Deitcher Group, owns the 107,977-square-foot building. IDEO is the first tenant signed at the building since it underwent major capital improvements that encompassed common areas and building systems. Palo Alto, Calif.-based IDEO will take occupancy on floors seven and eight of the building in the third quarter. Lisa Konieczka of CB Richard Ellis represented IDEO in lease negotiations. Terms of the lease were not disclosed.