Office

HSA COMMERCIAL COMPLETES MEDICAL OFFICE BUILDING AND SIGNS FIRST TENANTS

by admin September 24, 2008

DOWNERS GROVE, ILL. — Chicago-based HSA Commercial Real Estate’s PrimeCare and Corporate Services Division has completed a 35,000-square-foot medical office building located at 6840 South Main St. in Downers Grove. The building, which is situated on a 2.15-acre site, will house Advocate Good Samaritan Hospital’s outpatient services center. Downers Grove Pediatrics has leased 3,841 square feet of space on the second floor of the facility. Roger Knigge of HSA represented both parties in the second-floor lease transaction. Additionally, HSA owns an existing medical office building at 6800 South Main St., which neighbors the new facility. The older building is expected to undergo extensive upgrades later this year. The entire complex is named Advocate Good Samaritan Outpatient Center.

September 24, 2008

GRUBB & ELLIS HEALTHCARE REIT PURCHASES MEDICAL OFFICE PORTFOLIO

by admin September 24, 2008

OKLAHOMA CITY — Santa Ana, Calif.-based Grubb & Ellis Healthcare REIT has acquired the Oklahoma City Medical Portfolio, a two-property medical office building portfolio located in Oklahoma City. Both properties are located on the campus of Deaconess Hospital. The first property, 5701 North Portland, is a three-story, approximately 61,000-square-foot building that is connected to the hospital by way of an underground tunnel. It is 86 percent leased to 17 tenants. The second property, 5401 North Portland, is a six-story, approximately 126,000-square-foot building that is physically attached to the hospital. It is 96 percent leased to 16 tenants. Grubb & Ellis Healthcare REIT acquired the property from Deaconess Portland MOB LP, which was represented by Toby Scrivner and Jeff Matulis of Tulsa, Okla.-based Stan Johnson Co. The acquisition price was not disclosed.

September 24, 2008

Office Texas

MARCUS & MILLICHAP NEGOTIATES 45,278-SQUARE-FOOT OFFICE SALE

by admin September 24, 2008

ABILENE, TEXAS — Marcus & Millichap has negotiated the sale of Corporate Place, a 45,278-square-foot office complex located at 3301 N. Third St. in Abilene. Greg Gaynor of the firm’s Austin, Texas, office, listed the property on behalf of the undisclosed seller. It was acquired by a Central Texas-based real estate investor for an undisclosed amount.

September 24, 2008

Office Western

SUDBERRY PROPERTIES BREAKS GROUND FOR $60M PROFESSIONAL BUILDING

by admin September 24, 2008

SAN DIEGO — Sudberry Properties Inc. has broken ground for the construction of a 150,000-square-foot professional building in San Diego. The six-story, build-to-suit facility is located at the intersection of Interstate 15 and Scripps Poway Parkway within Miramar Ranch North. The $60 million building is part of Sudberry’s The Watermark, a planned 32-acre office campus. The new complex will include the corporate headquarters building for MedImpact Healthcare Systems Inc., which is slated to open in April 2010. Scripps Highland M/I Development LP owns the property. Bank of America and KeyBank are providing construction financing. Hanna Gabriel Wells is serving as project architect.

September 24, 2008

Office Western

AMB PROPERTY CORP., LEE & ASSOCIATES BROKERS LAND SALE

by admin September 24, 2008

OCEANSIDE, CALIF. — AMB Property Corporation® and Lee & Associates have brokered the sale of 6.48 acres of land located within the 120-acre AMB Pacific Coast Business Park in Oceanside. Pacific Marine Credit Union (PMCU) acquired the property for an undisclosed price. PMCU plans to develop a two-story, 60,000-square-foot office building on the site, which will serve as the company’s new corporate headquarters. The property will include a ground-level retail credit union branch and ATM locations, as well as general and administrative offices. Larry Strickland and Rusty Williams of Lee & Associates represented the seller, AMB, in the transaction; Kirk Allison and Vic Gausepohl of Colliers International represented the buyer.

September 24, 2008

Northeast Office

MRA SELLS OFFICE PROPERTY

by admin September 23, 2008

MINEOLA, N.Y. — Garden City, N.J.-based Metropolitan Realty Associates (MRA) has disposed of a 6,810-square-foot office property, located at 410 E. Jericho Turnpike in Mineola, for $1.41 million, or $207 per square foot. The two-story, Class A property is currently vacant; it was formerly the headquarters of Birchwood Associates, which has since liquidated its commercial property holdings. Ron Kleinberg of Tri-State Properties represented MRA in the transaction. The buyer, Stuart Finz, was represented by Ross Selinger of ITRA Realty Group/Selinger Enterprises. In January, Finz purchased an adjacent, 13,000-square-foot land parcel from MRA.

September 23, 2008

Office Texas

TRANSWESTERN LEASES TOP TWO FLOORS OF OFFICE TOWER

by admin September 23, 2008

HOUSTON — Houston-based Transwestern has leased the top two floors of 1800 West Loop South, a 399,777-square-foot office tower located in Houston’s Uptown Galleria submarket. Advertising agency Fogarty Klein Monroe will use the space, which totals 39,506 square feet, as its Houston office. The lease brings occupancy in the tower up to 95 percent. Michelle Wogan and Monte Calvert of Transwestern represented the landlord, 1800 West Loop South Ltd. Kevin Gardner of CresaPartners’ Houston office represented Fogarty Klein Monroe. The tenant is working with the Houston office of architect PageSoutherlandPage to design the office’s interior.

September 23, 2008

Office Western

SIMPSON PARKVIEW DEVELOPS 20,300-SF OFFICE BUILDING

by admin September 23, 2008

SAN DIEGO — Denver-based Simpson Parkview LP is developing a 20,300-square-foot for-sale office building in Central San Diego County. Located at 3540 Aero Ct., the property offers access to 163 and 805 freeways, as well as proximity to Sharp Hospital Campus. KTGY Group is providing architectural services for the project, while Wermers Corp. is serving as general contractor. Completion is slated for June 2009. Pat Rohen and Matt Kelly of Cushman & Wakefield are marketing the property, which has a listed sales price of $6.4 million or $315 per square foot.

September 23, 2008

Office Western

CANYON CREEK DESIGN CENTER TRADES HANDS FOR $5.58M

by admin September 23, 2008

SAN DIEGO — Voit Commercial Brokerage has completed the $5.58 million disposition of Canyon Creek Design Center, which is located at 4010 Morena Blvd. in San Diego’s design district. The two-story 24,500-square-foot building is currently occupied by Lee Lawrence Ltd., The American Society of Interior Designs, SGO Designer Glass, Arnett Company and Parker’s Posters. John Lanza and James Marsh of Voit Commercial Brokerage represented the sellers; Glen Volk, also of Voit Commercial Brokerage, represented the undisclosed buyer. The sellers were John Lanza, James Marsh, Betty Jo Lanza and John Robert Lanza.

September 23, 2008

Office Southeast

NORFOLK WORLD TRADE CENTER CHANGES HANDS

by admin September 22, 2008

NORFOLK, VA. — An affiliate of Norfolk-based Harbor Group International has acquired the 366,106-square-foot World Trade Center, located at 101 W. Main St. in Norfolk, from an undisclosed party. The purchase price was not disclosed. The nine-story office building, which is 88 percent occupied, features three conference rooms, balconies on the top four floors and a fitness center.

September 22, 2008

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