CARTERET, N.J. — Cushman & Wakefield (C&W) has brokered the sale of 200 Milk Street, a 150,000-square-foot office building located in Carteret, for $14.7 million. The building is currently fully occupied by Pathmark Stores, which has an absolute net lease on the building until December 2011. Jose Cruz, Andrew Merin, David Bernhaut and Gary Gabriel of C&W’s Metropolitan Area Capital Markets Group brokered the transaction for the buyer, Cofinance Inc., and the seller, Lexington Realty Trust.
CARLSTADT. N.J. — Consolidated Carpet has acquired an 80,000-square-foot office/warehouse facility located in Carlstadt, and will relocate its Brooklyn, New York City, operations to the new facility. The building will serve as a corporate operations center and sales office, providing showroom and warehouse space. The company had previously been located in Brooklyn for almost 30 years. Consolidated Carpet’s headquarters will remain in Manhattan, New York City. The seller and the acquisition price were undisclosed.
DALLAS — Dallas-based Prescott Realty Group has signed a lease for the top three floors of the Walnut Glen Tower, an 18-story, Class A office building located in Dallas. Insurance and risk management firm McQueary Henry Bowles Troy (MHBT) has signed a 7-year lease to occupy 65,000 square feet of the building, which is located at 8144 Walnut Hill Lane. The firm will take occupancy in June 2009 after it relocates from its current office at 12700 Park Central Dr. Duane Henley of Brandywine Realty Trust represented Prescott in lease negotiations; MHBT was represented by Barclay Commercial Group.
SAN DIEGO — Johnson & Jennings General Contracting has completed construction of a 43,000-square-foot corporate office headquarters for National Pen Co. LLC. Located at 12121 Scripps Summit Dr. in San Diego, the $2.3 million project included build-out of 1.5 floors for corporate offices, a marketing department, training rooms and meeting facilities. Architectural features include upgraded lighting, flooring and millwork finishes. Marianne Berg of Carrier Johnson + Culture provided architectural services for the project. Transwestern is the building owner and property manager.
PEWAUKEE, WIS. — James Young of Colliers Barry has represented Guacamole LLC in the acquisition of a 17,800-square-foot office facility within the Bluemound East Business Park located at W223N608 Saratoga Rd. in Pewaukee. S.E.D. Partners, which was represented by Scott Furmanski of CB Richard Ellis, has sold the building for an undisclosed amount. Guacamole will occupy a portion of the property, with 6,000 square feet of Class B office space available for additional tenants. Diversified Insurance, the former tenant in the property, will lease space in a nearby office building.
FORT MYERS, FLA. — Fort Myers-based GCM Contracting Solutions has completed construction for Phase I of the Alico Business Park located on Lee Road in Fort Myers. Four building were constructed in the first phase, with three more being developed in subsequent phases. The seven-building community will total 130,800 square feet of space suitable for office, warehouse or industrial use. Each unit, which ranges from 1,500 to 20,000 square feet in size, has a minimum of four parking spaces with more than 300 spaces available for customer parking. Architect Richard E. Ditter designed the building; Greg Coleman served as the project manager.
LINCOLN, NEB. — Grubb & Eliss|Pacific Realty has acquired the assets of Greenleaf Properties and is merging the operation of the two existing offices in Lincoln. The combined company will be responsible for approximately 1.7 million square feet of property management assignments in Lincoln. President of Greenleaf Properties, Don Linscott, will remain with the firm; vice president for Grubb & Ellis|Pacific Realty, Cathi Johnson-Haisch, will be responsible for the newly expanded brokerage division within the combined operation. Mark Bronder has been appointed by Grubb & Ellis|Pacific Realty to become the vice president and director of the newly merged office.
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.
