RALEIGH, N.C. — Duke Realty is building a 160,000-square-foot headquarters building for Time Warner Cable at Perimeter Park in Raleigh. The four-story, Class A building will be LEED-certified. Construction is scheduled to begin next month and complete in April 2009. Giffels, a global architecture, engineering and project management firm, designed the build-to-suit facility.
RALEIGH, N.C. — Duke Realty is building a 160,000-square-foot headquarters building for Time Warner Cable at Perimeter Park in Raleigh. The four-story, Class A building will be LEED-certified. Construction is scheduled to begin next month and complete in April 2009. Giffels, a global architecture, engineering and project management firm, designed the build-to-suit facility.
LIBERTY TOWNSHIP, OHIO — Grubb & Ellis Healthcare REIT has acquired Liberty Falls Medical Plaza, an approximately 44,000-square-foot medical office building located at 6770 Cincinnati-Dayton Rd. in Liberty Township. The two-story building is currently 91 percent leased. It is located adjacent to the $83 million Liberty Campus, an outpatient center affiliated with Cincinnati Children’s Hospital Medical Center that is scheduled to open in August. The seller, as well as the sale price, were undisclosed.
LIBERTY TOWNSHIP, OHIO — Grubb & Ellis Healthcare REIT has acquired Liberty Falls Medical Plaza, an approximately 44,000-square-foot medical office building located at 6770 Cincinnati-Dayton Rd. in Liberty Township. The two-story building is currently 91 percent leased. It is located adjacent to the $83 million Liberty Campus, an outpatient center affiliated with Cincinnati Children’s Hospital Medical Center that is scheduled to open in August. The seller, as well as the sale price, were undisclosed.
WYOMING, MICH. — Marcus & Millichap has completed the sale of the Majznerski Dental Office, an 8,200-square-foot, single-tenant medical office building located in Wyoming, for $2.29 million in a sale/leaseback transaction. Bill O’Connor of Marcus & Millichap’s Detroit office and Geoff Meekhoff of the firm’s Grand Rapids, Mich., office represented the seller, which signed a new 10-year net lease at the close of the sale. The property was acquired by a private California-based investor.
WYOMING, MICH. — Marcus & Millichap has completed the sale of the Majznerski Dental Office, an 8,200-square-foot, single-tenant medical office building located in Wyoming, for $2.29 million in a sale/leaseback transaction. Bill O’Connor of Marcus & Millichap’s Detroit office and Geoff Meekhoff of the firm’s Grand Rapids, Mich., office represented the seller, which signed a new 10-year net lease at the close of the sale. The property was acquired by a private California-based investor.
HOUSTON — NAI Houston has brokered the sale of an office building located at 10727 Tower Oaks Blvd. in Houston. Otwell Tower Oaks Ltd. purchased the 23,650-square-foot building from Suttles Real Estate Investments Ltd. for an undisclosed amount. Travis Land of NAI Houston represented the buyer in the transaction, and Dylan Schopper of Caldwell Cos. represented the seller.
ROUND ROCK, TEXAS — Smith Consulting Architects is nearing completion on the Spectrum at Crystal Park, an office park located at 2300 Greenhill Dr. in Round Rock. The site comprises 10, two-story buildings, which range in size from 5,600 to 15,000 square feet, on 8.68 acres. The office park will house 84,376 square feet total upon completion this spring. St. Croix Capital Corp. and Red Texas Realty LLC have partnered to manage the property.
CHICAGO — The Chicago office of Holliday Fenoglio Fowler has assisted in securing $394.6 million in construction financing and joint venture equity for the renovation of 208 South LaSalle, a 21-story office tower located in Chicago. The project’s developer, UST Prime III Joint Venture Ltd., is a joint venture involving Reschke Chicago Partners, an affiliate of The Prime Group and an affiliate of Estein & Associates. Construction financing totaled $271.6 million, and was provided by Union Labor Life Insurance Co., Private Bancorp and Capri Capital Partners. Estein and Prime capitalized the joint venture with $123 million of equity capital. Renovations to the historic building, which formerly served as a multi-tenant office property, will include the construction of a luxury JW Marriott Hotel on the lower 12 floors. It is expected to include 610 rooms and suites; 48,000 square feet of ballroom and meeting space; and a 20,000-square-foot spa and health club. The hotel will be operated and managed by Marriott International, and is scheduled to open early 2010. Renovations will also be performed to the top nine floors of the building, which will remain office space, as well as the 18,000 square feet of ground-floor retail space. The office component …
CHICAGO — The Chicago office of Holliday Fenoglio Fowler has assisted in securing $394.6 million in construction financing and joint venture equity for the renovation of 208 South LaSalle, a 21-story office tower located in Chicago. The project’s developer, UST Prime III Joint Venture Ltd., is a joint venture involving Reschke Chicago Partners, an affiliate of The Prime Group and an affiliate of Estein & Associates. Construction financing totaled $271.6 million, and was provided by Union Labor Life Insurance Co., Private Bancorp and Capri Capital Partners. Estein and Prime capitalized the joint venture with $123 million of equity capital. Renovations to the historic building, which formerly served as a multi-tenant office property, will include the construction of a luxury JW Marriott Hotel on the lower 12 floors. It is expected to include 610 rooms and suites; 48,000 square feet of ballroom and meeting space; and a 20,000-square-foot spa and health club. The hotel will be operated and managed by Marriott International, and is scheduled to open early 2010. Renovations will also be performed to the top nine floors of the building, which will remain office space, as well as the 18,000 square feet of ground-floor retail space. The office component …