KATY, TEXAS — Trammell Crow Co. (TCC) is developing a 62-acre campus for KBR, a global engineering, construction and services company, in Katy. The 910,000-square-foot facility will be located on a 124-acre site, which TCC owns in a joint venture, at the southwest corner of Grand Parkway and Interstate 10. Construction is set to begin later this year, and completion is expected in 2010. KBR’s facility is being designed within LEED specifications.
SACRAMENTO, CALIF. — Portland, Ore.-based NBS Real Estate Capital, on behalf of its Morrison Street series of funds, has acquired Mayhew Trade Center in Sacramento. Located at 9323 and 9333 Highway 50, the two-building flex/office property is currently divided into 10 tenant suites totaling 68,639 square feet. At the time of acquisition, the center was 82 percent leased to seven tenants. The seller was not disclosed.
RICHMOND, VA. — Charles J. Keck has purchased an 89,090-square-foot office/warehouse facility in Richmond, from ETB Enterprises. The property is situated on 3 acres and is located at 1125 Commerce Road. Richard Porter of Porter Realty Company/CORFAC International represented the seller.
LAS VEGAS — EJM Development Co. has completed the first phase of The Arroyo Corporate Center in southwest Las Vegas. Located between Rainbow Boulevard and Buffalo Drive, the first phase consists of two Class A office buildings totaling approximately 125,000 square feet. Each building offers fiber-optic wiring and covered parking. The development consists of a full range of business location options, including Class A office buildings, ranging from two to six stories, single-story office space and industrial buildings. JMA Architecture Studios is the architect of record, while Martin Harris Construction served as general contractor for the project.
KENNESAW, GA. — GEM Kennesaw, an overseas private investor, has acquired the 175,900-square-foot Heidelberg U.S.A. headquarters building as part of a 1031 exchange in Kennesaw, from a TIC controlled by Dallas-based MacFarlan Capital Partners, for $22.3 million. The Class A, two-story building is located at 1000 Gutenberg Dr. and is 100 percent leased by Heidelberg U.S.A., a wholly-owned subsidiary of Heidelberg Druckmaschienen AG. Falcon Real Estate Investment Company advised the buyer.
ROCHESTER, N.Y. — The Tryad Group and Alex Miltsch have announced the development of the Rochester Park Studios at the Rochester Technology Park in Rochester. The project will be constructed in two phases. The first phase of development will take place within Buildings 2 and 3 of the Tech Park and will include the development of permanent sound stages, planned back-lot locations, post-production facilities, dedicated production office space and mixed-use space to accommodate production industry vendors and support companies. The second phase of development will be the construction of an adjacent office building for filmmakers, production companies, musicians, creative professionals, ad agencies, production and support businesses and vendors, as well local businesses and academic institutions that serve as incubators for the local film industry. The Tryad Group owns the 5 million-square-foot Rochester Technology Park and Miltsch is the president and founder of Rochester Park Studios.
HOUSTON — Hines REIT has acquired Williams Tower, a 64-story office building located at 2800 Post Oak Blvd. in Uptown Houston. Amenities at the 1.5-million-square-foot tower include a retail bank and ATM in the lobby; a conference center; a lobby-level art gallery; a sundry shop; a drycleaners; a deli; and a coffee bar. Transcontinental Gas Pipe Line Corp., Black Box Network Services; Hines and Hines REIT (corporate headquarters); Rowan Cos.; Van Kampen Investments; Citicorp North America; CBRE Melody of Texas; Wachovia Bank; and Williams Field Services Co. are a few of the major tenants at the 94 percent-leased building. Cushman & Wakefield represented the seller, Transco Tower Ltd., in the transaction, which also included an undivided interest in the adjacent 2.8-acre Waterwall Park and another 2.3-acre undeveloped land parcel across the street. Hines developed Williams Tower, and has managed and leased the building since its completion in 1982.
PALM DESERT, CALIF. — Orlo Styles LLC has developed Waring Medical and Professional Plaza, a 65,000-square-foot office project in Palm Desert. Located along Fred Waring Drive, the project currently offers 47,000 square feet of available space. Signed tenants include VIP Urgent Care, Law Office of Mark McGowan, Shaw Capital, TLC Laser Eye Care, James Todd Brunson M.D., CAPAX Insurance, Wahlin Wealth Management and Tenryu Yoga. Michael Meade and Ren Glanz of Lee & Associates are handling the marketing and leasing of the project.
LOUISVILLE, KY. — NTS Realty Holdings has completed the sale of 100 percent of the membership interests in its wholly-owned subsidiary, which consisted of eight office properties in Louisville, to Kentucky-based Ascent Properties, for $56.5 million. The portfolio was comprised of Plainview Center, which features 98,000 square feet; Plainview Point Office Center I and II, which feature a total of 57,300 square feet; Plainview Point Office Center III, which features 61,700 square feet; 1901 Campus Place, which features 85,300 square feet; Atrium Center, which features 104,300 square feet; Blakenbaker Business Center I, which features 160,700 square feet; and Blakenbaker Business Center II, which features 77,400 square feet.
DUBLIN, OHIO — Grubb & Ellis Realty Investors has acquired 5200 Upper Metro Place, a three-story, Class A office building located in the Columbus, Ohio, suburb of Dublin. Situated on approximately 8 acres, the 96,000-square-foot building is 90 percent leased to a tenant roster that includes Smith’s Medical and CoreSource. The property was acquired from Upper Metro LLC, which was represented by George Stecz of CB Richard Ellis. The acquisition price was undisclosed.
