VENTURA, CALIF. — Venstar LP, an affiliate of Pacific Properties Group Inc., has acquired a 60,000-square-foot office building, which is located at 5250 Ralston St. in Ventura. The company is in the conceptual stages of planning an office and multi-tenant industrial development on the 8-acre site, with completion slated for late 2009. George Eales of DAUM Commercial Real Estate Services, a member of ONCOR International, represented both the buyer and the seller, BRV Inc., a subsidiary of E.W. Scripps, in the transaction. The acquisition price was not disclosed.
Office
NEW YORK CITY — Omnicom has signed a lease for approximately 184,000 square feet of space at 195 Broadway, a 1 million-square-foot office building in Manhattan, New York City. The 15.5-year lease encompasses 4.5 floors and includes expansion options. Owned by L&L Holdings Co., the 29-story building is 100 percent occupied and located between the Fulton Street and Calatrava Path transit centers. Omnicom’s Midtown and Midtown South units are slated to begin relocation to 195 Broadway third quarter 2008. Feld Real Estate represented the leasee, and David Berkley, along with Howard Fiddle and Brad Gerla of CB Richard Ellis, represented the landlord in-house.
PHOENIX — Torrance, Calif.-based SC Enterprises has purchased The Art Institute of Phoenix, a four-story building located at 2233 W. Dunlap Ave. in Phoenix, for $22.15 million. Built in 1998, the 92,103-square-foot building is 100 percent occupied by The Art Institute of Phoenix, a subsidiary of Pittsburgh-based Educational Management Corp. Barry Gabel, Mindy Korth and Mark Dancer of CB Richard Ellis’ Phoenix office represented the seller, Lakewood, Colo.-based 2233 Dunlap Associates, in the transaction.
FORT LAUDERDALE, FLA. — In-Rel Management has opened Courthouse Place, a 65,000-square-foot boutique office building in Fort Lauderdale. The eight-story, Class A property is located at 12 SE 7th St. and features a bank branch with drive-thrus. Available space ranges from 1,000 square feet to 42,000 square feet. Deanna Lobinsky, Travis Herring and Andrew Ackerman of CB Richard Ellis’ Fort Lauderdale office will handle the leasing and marketing of the property on behalf of the landlord, In-Rel Management.
NAPLES, FLA. — Bonita Springs, Fla.-based Heatherwood Construction Co. is developing the new corporate headquarters for First American Bank in Naples. The Class AAA, two-story property will offer 26,000 square feet of office space. Located in the Marquesa Plaza at 3360 Pine Ridge Rd., additional tenants include Starbucks Coffee, Wireless Toyz and Figaro’s Pizzeria. Hector Vidal and Jeff Wise of Heatherwood will oversee the project, and Sheeley Architects has provided design services. Completion is slated for October 2008.
LEWISTON, MAINE — STAG Capital Partners has purchased a 60,000-square-foot office building situated on 5.96 acres at 19 Mollison Way in Lewiston from George Schott. The building is fully leased to Per-Se Technologies, a wholly owned subsidiary of McKesson Corp. Ted Norberg represented the buyer in-house in the transaction, and Craig Young of CB Richard Ellis/The Boulos Company represented the seller. The sale price was undisclosed.
FORT WORTH, TEXAS — Daimler Financial Services Americas has agreed to lease a 204,000-square-foot office building in Hillwood’s AllianceTexas development in Fort Worth. The three-story, build-to-suit building will house 650 employees and is located 15 miles from Dallas/Fort Worth International Airport. AllianceTexas is a 17,000-acre development home to the Alliance Global Logistics Hub, Circle T Ranch and the mixed-use community of Heritage. UGL Equis represented the tenant and Hillwood, the developer of AllianceTexas, was represented in-house by Steve Aldrich.
HOUSTON — Argus Realty Investors has acquired three office buildings totaling 253,524 square feet from Caldwell Cos. for approximately $20 million. The Class B portfolio is 98 percent leased and includes Park 10 Place, an 83,078-square-foot, five-story office building located at 16420 Park Ten Place; Broadfield, a 102,865-square-foot, six-story office building located at 1400 Broadfield Blvd.; and Willowbrook Office Building, a 67,581-square-foot property located at 7915 FM 1960 Rd. The portfolio has 48 tenants including CITGO Petroleum and Fletcher Yoder. La Salle Bank provided a $21.2 million 10-year loan at a 5-year 6.15 percent fixed rate. Darrell Betts of Grubb & Ellis’ Houston office represented the Houston-based seller.
WESTWORTH, TEXAS — Dallas-based Metropolitan Capital Advisors has arranged $40 million in debt and equity financing for Westworth Shopping Center in Westworth. A 175,000-square-foot SuperTarget will anchor the center, in addition to 200,000 square feet of retail space. Expected tenants include Petco, Staples, Dollar Tree, Famous Footwear and Chase Bank.
FORT MYERS, FLA. — Basik Development has begun Phase II of Central Park in Fort Myers. Phase II of the office park project will include adding three more buildings to the existing seven buildings already completed in Phase I. The three buildings will range in size from 3,075 square feet to 4,205 square feet. The site is zoned for 20 office buildings totaling 34,000 square feet to 76,000 square feet. The project is situated on 9.2 acres near U.S. Highway 41 and Daniels Boulevard.