WHITEHALL, PA. — Allentown, Pa.-based Summit Management & Realty Co. has completed the sale of a 17,352-square-foot office/flex building located at 3724 Crescent Court in Whitehall. The property traded in a $2.25 million transaction to Logisol LLC, the U.S. subsidiary of Italy-based medical company Guna S.p.a. Mike Shelton of Summit represented the seller, which was undisclosed.
WAXAHACHIE, GREENVILLE AND CEDAR HILL, TEXAS — Santa Ana, Calif.-based Grubb & Ellis Healthcare REIT has acquired a five-building medical office portfolio known as Medical Portfolio 4. Three of the properties are located in Texas. The first is a two-story, approximately 48,000-square-foot building located at 1305 W. Jefferson St. in Waxahachie. The building is situated on approximately 4 acres of land on the campus of The Baylor Medical Center at Waxahachie. The second property is a two-story, approximately 43,000-square-foot building located at 4501 Joe Ramsey Blvd. in Greenville. It is situated on approximately 4 acres of land across the street from Presbyterian Hospital of Greenville. The third property is a single-story, approximately 25,000-square-foot building located at 950 E. Belt Line Rd. in Cedar Hill. It is situated on approximately 3.1 acres of land within close proximity to Methodist Charlton Medical Center. The other two properties in the portfolio include an approximately 78,000-square-foot medical office building located in Phoenix and an approximately 30,000-square-foot building located in Parma, Ohio. The portfolio was acquired from affiliates of The Cirrus Group, which was represented by James Moloney and Joe Diminguez of New York City-based Cain Brothers. The acquisition price was not disclosed.
PHOENIX — St. Petersburg, Fla.-based PSCU Financial Services Inc. has purchased Acxiom Building, which is located at 19825 N. 7th St. in Phoenix. Arkansas-based Acxiom Interim Holdings Inc. and Acxiom Corporation of Delaware sold the property for $25.4 million. Built in 2001, the building offers 97,372 square feet of office space. Additionally, a vacant parcel adjacent to the property can accommodate an approximately 150,000-square-foot property. PSCU plans to relocate to the new property in November. Blaine Black and Brian Black of Cushman & Wakefield represented PSCU in the transaction; Barry Rosensteel of PRIN Investments Real Estate Group represented Acxiom.
MISSION HILLS AND VALENCIA, CALIF. — Lenny Cohen of NAI Capital has completed the sales of two properties in Mission Hills and Valencia for a combined consideration of approximately $3 million. In the first transaction, David Phung purchased a 5,506-square-foot office multi-use building located at 10216-10218 Sepulveda Blvd. in Mission Hills. Xyi*Str sold the property for $1.3 million. Cohen represented both parties in the transaction. In a separate deal, Cohen represented the buyer, Acrona Inc., in the acquisition of a 13,755-square-foot industrial building in Valencia. Located at 28745 Industry Dr., the property sold for $1.8 million. Craig Peters and Richard Ramirez of CB Richard Ellis represented the seller, Pac Ten Valencia Gateway Associates, in the transaction.
WESTFIELD, N.J. — The New Jersey office of Jones Lang LaSalle (JLL) has brokered the acquisition of a Class A office building located in Westfield. The three-story, 41,281-square-foot building is located at 50 Cardinal Dr. and was purchased by Atlantic Container Lines, which plans to use the facility as its headquarters location. The property was constructed in 2006. Chris Conklin and J.C. Giordano of JLL represented Atlantic Container Lines; Frank Cotilla, also of JLL, will be providing project management and relocation services. The seller and purchase price were not disclosed.
ORLANDO, FLA. — Altamonte Springs, Fla.-based Roger B. Kennedy Inc. has completed construction on the 40,000-square-foot Avalon Office Building, located in the Avalon Park community in Orlando. The $4.8 million project was designed by Orlando-based SchenkelShultz Architecture.
MARYLAND HEIGHTS, MO. — An affiliate of St. Louis-based Conrad Properties Corp. has begun the first phase of renovation of Millwell Green, an 8.8-acre business park located in Maryland Heights. Upon completion, the $13 million Millwell Green will be the first fully LEED-Certified business park in Missouri. The initial facility in the four-building first phase will measure 21,000 square feet, and is more than 75 percent pre-leased to City Blue Technologies and an undisclosed tenant. Both users are scheduled to occupy the new space by the end of this year. The four single-story distribution buildings in Phase I will be able to accommodate single users or multiple tenants, and will range upwards in size from 18,900 square feet. Amenities at the buildings will include 16- to 25-foot clear ceiling heights with docks and/or drive-in door access. Phase II of the project includes a 3.2-acre parcel for sale to build-to-suit users. The site will be able to accommodate a single 53,000-square-foot structure, or up to four smaller freestanding buildings. G.S. S Inc. is the general contractor; Kansas City, Mo.-based Treanor Architects is providing architectural services for the project. Casey Urkevich and Joseph Hill of Chesterfield, Mo.-based Block Hawley represent Millwell Green.
HOFFMAN ESTATES, ILL. — Chicago-based McShane Corp., as the design/builder, has broken ground on Mori Seiki U.S.A. Inc.’s American corporate headquarters and showroom at the intersection of West Central Road and Huntington Boulevard in Hoffman Estates. The 102,000-square-foot facility is being constructed on a 7.5-acre site within McShane Corp.’s Huntington Woods Corporate Center business park. The headquarters will include a 42,560-square-foot showroom, as well as a 59,000-square-foot two-story office component that will house Mori Seiki’s American headquarters, the Chicago Technical Center, Machining Technology Laboratory and Mori Seiki University. Cornerstone Architects will provide architectural services for the project. Masuo Ishida of Tobi International Corp. represented Mori Seiki Co. in the acquisition of the site; Steve Trapp, John Hauser and Charles Des Rosiers of Cushman & Wakefield represented McShane Corp. in the transaction.
PARSIPPANY, N.J. — Commercial Realty Group is nearing completion for the first building in InterPark Office Campus, a Class A office project located in Parsippany. Located at 100 InterPark Blvd., the four-story building will contain 76,000 square feet, and is being built in anticipation of LEED-Silver certification. The building will be divisible from 4,500 square feet; it will include a water feature, an exercise facility and on-site food service. InterPark Office Campus also has the potential for a Phase II building that will rise five stories and contain up to 109,000 square feet of space. Josh Cohen, Marc Rosenberg, Bill Brown and Katie Kennedy of Cushman & Wakefield’s Morristown, N.J., office are handling leasing for the property. Site work, including all paving and landscaping, is already complete for the project.
KELLER, TEXAS — Marcus & Millichap has completed the sale of Park Vista Business Park in Keller. Situated on 1.57 acres, the property contains two single-story buildings totaling 22,000 square feet. Each building contains 11 units of 1,000 square feet, with some tenants occupying multiple units. Chase Johnson and Peyman Etebari of Marcus & Millichap’s Fort Worth, Texas, office represented the private seller. Scott Gigliotti, also of the firm’s Fort Worth office, represented the private buyer. Financing for the purchase was handled by Boyd Burton and Ravi Mehta of the Fort Worth office of Marcus & Millichap Capital Corp. handled the acquisition financing.
