COLUMBUS, OHIO — SVN Equities has acquired a three-property commercial portfolio totaling 416,225 square feet of space around suburban Columbus from Och-Ziff Real Estate. The properties, which were acquired for approximately $20 million, include Metro Lakes Office Building, a five-story 96,876-square-foot office facility located at Metro Place South in Dublin, Ohio; Westpointe Business Park, a four-building office community encompassing 238,982 square feet of flex office space located at 2249-2361 Westbrooke Dr. in Columbus; and Westpointe Industrial, two multi-tenant, single-story industrial buildings housing 80,367 square feet of space located at 4000-4014 Venture Ct. in Columbus. Frank Kosi of Sperry Van Ness’ Newport Beach, Calif., office represented SVN Equities; Chris Salomone of Grubb & Ellis/Adena Realty Advisors represented Och-Ziff Real Estate in the transaction. SVN Equities will oversee management of the portfolio, which are 84 percent occupied.
COLUMBUS, OHIO — SVN Equities has acquired a three-property commercial portfolio totaling 416,225 square feet of space around suburban Columbus from Och-Ziff Real Estate. The properties, which were acquired for approximately $20 million, include Metro Lakes Office Building, a five-story 96,876-square-foot office facility located at Metro Place South in Dublin, Ohio; Westpointe Business Park, a four-building office community encompassing 238,982 square feet of flex office space located at 2249-2361 Westbrooke Dr. in Columbus; and Westpointe Industrial, two multi-tenant, single-story industrial buildings housing 80,367 square feet of space located at 4000-4014 Venture Ct. in Columbus. Frank Kosi of Sperry Van Ness’ Newport Beach, Calif., office represented SVN Equities; Chris Salomone of Grubb & Ellis/Adena Realty Advisors represented Och-Ziff Real Estate in the transaction. SVN Equities will oversee management of the portfolio, which are 84 percent occupied.
GREAT RIVER, N.Y. — Garden City, N.Y.-based Metropolitan Realty Associates has broken ground for the construction of the 300 Building, located at 3500 Sunrise Hwy. within Sunrise Business Center in Great River. Construction will consist of the redevelopment of the former Grumman Corp. warehouse into a 161,000-square-foot office building. The corrugated metal warehouse will be re-skinned with a glass curtain wall, and metal and glass panels. A second floor and a two-story atrium entrance will also be added. The new office building is being designed by Salvatore Ferrara of Combined Resources Consulting & Design. Upon completion of the 300 Building, Sunrise Business Center will contain 388,500 square feet of space within three buildings. Tenants currently occupying the 100 and 200 Buildings include A-C Tel, Aetna Life Insurance Co., Citizen’s Bank, Hearst Business Media, Lessings Inc., Metro Door, Netsmart Technologies, Schoenfeld Securities, T-Mobile and Verizon Communications.
WILKINS, PA. — The Regus Group has acquired a 12,000-square-foot office condo located within Penn Center East in Wilkins. The condo is located on the fourth floor of 201 Penn Center Blvd., and features 33 offices, as well as three conference rooms. The seller and the acquisition price were undisclosed. Penn Center East is a mixed-use development containing seven Class A office buildings totaling 625,000 square feet and more than 300,000 square feet of retail space.
SAN ANTONIO — Oak Brook, Ill.-based Inland Mortgage Capital Corp. has provided a $10.35 million acquisition loan for a three-building office park located in San Antonio. North Park Corporate Center Phase II is situated on 7.35 acres at 17319 San Pedro Ave. in the city’s Hollywood Park neighborhood. The three buildings total 86,400 square feet of leaseable space. The financing is an interest-only, floating-rate, first-mortgage bridge loan with a 76 percent loan-to-value ratio. The undisclosed borrower will use the financing to acquire the property and lease the remaining space. The property was 75 percent occupied at the time of closing. Leslie Lundin of Inland originated the loan.
VALLEY FORGE, PA. — CB Richard Ellis (CBRE) has brokered the sale of a 251,751-square-foot office/industrial building located in Valley Forge for $24 million. The facility is situated on 15.29 acres at 2621 Van Buren Ave., within the 250-acre Valley Forge Corporate Center. It features Class A office space, as well as warehouse and light manufacturing space. At the time of closing, it was 96 percent occupied by a tenant roster that includes Comcast Corp., PayChex, Texas Instruments and PJM Interconnection. Michael Hines and Lizann McGowan of CBRE’s Philadelphia office represented the seller, BPG Properties. The property was acquired by New Jersey-based Lingwood Partners.
HOUSTON —McShane Corp. has been selected by OakBend Medical Center to develop Grand Parkway Medical Office Center, an off-campus medical office building located in Houston. The three-story, 60,000-square-foot facility will be situated on 5 acres at Grand Parkway, approximately 7.5 miles from the hospital. It will feature medical suited divisible from 1,200 square feet, as well as an ambulatory surgery center. Groundbreaking is set to occur in September, with completion slated for fourth quarter 2009. The Houston office of Cadence McShane Corp. will provide design/build services for the project. Denver-based Marasco & Associates will provide the concept design, and Houston-based Seeberger + Associates will serve as architect of record. Grand Parkway Medical is the first of two medical office facilities McShane will be building for OakBend Medical Center. The second facility will be located on-campus. No details have been released.
RICHARDSON, TEXAS — CB Richard Ellis (CBRE) has brokered the sale/leaseback of a 59,343-square-foot office building located at 2180 N. Glenville Dr. in the Dallas suburb of Richardson. Darrin Roberts and Peter Danna of CBRE represented the seller, SBC Asset Management; the buyer, Attrich, was represented by Robert Mills of PM Realty Group. The single-tenant property is currently occupied by AT&T Services. The acquisition price was not disclosed.
NEWPORT BEACH, CALIF. — The PRES Companies has sold eight office condominiums in its newly completed projects, Dove Office Condos and Quail Office Condos in Newport Beach, for a total consideration of $3.87 million. The recently completed projects feature for-sale office condominiums with individual units ranging in size from 300 to 20,000 square feet. Recent buyers include law firm Garrett & Heaton, accounting firm Montagna & Associates and Urban Trends, a consumer design and development company. Both projects are located in close proximity to the 405 and 455 Freeways as well as the 73 Toll Road.
CHATTANOOGA, TENN. — Diversified Realty Ventures has acquired the Atrium Medical Office Buildings located at the intersection of Gunbarrel Road and Jarnigan Road in Chattanooga. The 103,088-square-foot, Class A medical office facility, which consists of two buildings situated on 6.83 acres, was sold by Atrium Memorial Limited Partnership and Atrium Memorial Limited Partnership II. Dail Longaker of Columbia, S.C.-based Colliers Keenan was the sole broker for the $16.44 million transaction. Financing was provided by the Richmond, Va., office of Wells Fargo.