SHORELINE, WASH. — Marcus & Millichap has arranged the sale of Shoreline Park, an office building located at 19940 Ballinger Way NE in Shoreline. A private investor sold the asset to an undisclosed buyer for $4.3 million. Shoreline Park features 13,503 square feet of office space. At the time of sale, the property was 85 percent occupied by a mix of professional tenants. John Marks and Stren R. Lea of Marcus & Millichap’s Seattle office represented the seller in the deal.
PLEASANTON, CALIF. — JLL Capital Markets has arranged the sale of Britannia Business Center, a four-building R&D and office campus at 4125, 4155, 4255 and 4385 Hopyard Road in the Bay Area city of Pleasanton. A Virtua Partners-managed company sold the asset to an undisclosed buyer for $78 million. Situated on 19.3 acres, Britannia Business Center features 292,000 square feet of R&D and office space. Originally built between 1997 and 1998, the property features 13-foot to 20-foot clear heights, eight roll-up doors, one dock-high door and 1,600 to 3,000 amps available. At the time of sale, the asset was 68.6 percent leased with nearly half of the tenancy being credit tenants. Erik Hanson, David Dokko and Nick Deaver of JLL Capital Markets represented the seller in the deal.
AUSTIN, TEXAS — Inspire Development, an Austin-based developer of residential and commercial properties, has broken ground on the first phase of Pearson Ranch, a new mixed-use campus in northwest Austin. The $2 billion project will include 2.6 million square feet of new office space; 200,000 square feet of stores, restaurants and community and cultural spaces; two hotels; thousands of high-end residences; and 30 acres of park land. Phase I of Pearson Ranch will span 41 acres and feature approximately 600,000 square feet of office space, three high-end apartment communities and some lifestyle retail space. “We worked very closely with our team to create a plan that tightly knits the past, present and future into the most compelling land plan possible,” says Brett Ames, managing principal of Inspire Development, as well as president and CEO of Austin-based Ames Design Build. “Frankly, we feel a true sense of obligation to get it fully right.” The Pearson Ranch site is located on 156 acres at the corner of State Highway 45 and West Parmer Lane, which is approximately two miles north of Apple’s new $1 billion corporate campus. Other nearby employers include Dell, PayPal, Amazon and Visa. Pearson Ranch will include a 48-acre …
KENNESAW, GA. — CBRE has brokered the $28.1 million sale of a medical office building located at 187 Chastain Road NW in Kennesaw, about 26.7 miles north of downtown Atlanta. Lee Asher, Chris Bodnar, Jordan Selbiger, Ryan Lindsley, Sabrina Solomiany and Zack Holderman of CBRE represented the seller, PLSQ Chastain, an entity comprising investors from Quintus and Pope & Land Real Estate. Renasant Bank provided acquisition financing on behalf of the undisclosed buyer. Piedmont Healthcare Inc. fully occupies the entire property on a new long-term lease. CBRE represented Piedmont Healthcare in the lease transaction. In 2021, Pope & Land developed the 39,642-square-foot building as a build-to-suit for Piedmont. The property includes a linear accelerator and includes imaging, infusion and radiation and oncology suites for cancer treatment on the first floor. The second floor includes more than 30 exam rooms for multiple specialties. Brasfield Gorrie was the contractor for the facility, and EYP was the architect.
AUSTIN, TEXAS — Cypress Real Estate Advisors has completed Eastlake at Tillery, a 172,000-square-foot office project in East Austin. The complex consists of two three-story buildings and an adjacent parking structure. Amenities include a fitness center, prep kitchen and multiple outdoor gathering spaces. Construction began in December 2019. Delineate Studio designed the project, and Harvey Cleary served as the general contractor. AQUILA Commercial is the leasing agent.
DALLAS — A partnership between Texas-based Quadrant Investment Properties and Maryland-based FCP will develop a 120,286-square-foot office building at 1333 Oak Lawn Ave. in the Dallas Design District. The development will feature a five-story parking garage and amenities such as a fitness center, basketball court, community lounge, two terraces and a ground-floor restaurant. Completion is slated for the third quarter of 2023. Transwestern will market the building for lease.
SAN DIEGO — Hines Global Income Trust has purchased Liberty Station, a four-building office campus located in the Old Town/Point Loma submarket of San Diego. Terms of the transaction were not released. The 187,000-square-foot campus is situated on the waterfront within a 360-acre mixed-use site with convenient access to major employment nodes and the San Diego International Airport. The site also features more than 100 walkable amenities, 349 residential units, a golf club, retail shops, restaurants, the Liberty Public Market and 125 acres of parks and recreation space.
ALISO VIEJO, CALIF. — Fort Worth, Texas-based Lone Cypress Realty has completed the disposition of VIEW at 101 Columbia, a Class B office property in Aliso Viejo. Holt Integrated Circuits purchased the asset for $10.5 million. The integrated circuits supplier for the aerospace industry plans to use the 38,154-square-foot building with the ground-floor for warehousing and the second floor for corporate offices. The property was renovated in 2020 with modern entry finishes and light fixtures, as well as updated two-tone exterior paint. Mike Adams and Morgan Adams of Stream Greater L.A. represented the seller in the transaction.
SUNNYVALE, CALIF. — STC Venture has broken ground on Phase III of the Cityline Sunnyvale mixed-use project, which will add one residential building and two office towers in downtown Sunnyvale, 12.3 miles west of San Jose. The three new towers will include two seven-story buildings with approximately 590,000 square feet of rentable office, retail, flex and outdoor terrace space. The office portion of the project will be both LEED Gold and WiredScore Gold certified, which measures internet connectivity and digital infrastructure in commercial properties. The third building is The Martin, a 12-story apartment tower with 479 units, including 53 affordable rental units. The residential property will feature a hospitality-level amenity package and ground-floor retail and restaurant spaces. Additionally, the completed three towers will include a public park, which will be used as the town square and gathering space for the downtown area. “These 590,000 square feet of new office and retail space will bring more jobs to the central core of Sunnyvale and boost business for all of the community’s business owners,” says Deke Hunter, president of Hunter Properties. Phase I of Cityline Sunnyvale included 198 apartments located along Washington and McKinley avenues, as well as 85,000 square feet of …
WEBSTER, TEXAS — Partners Capital, the investment management platform and development arm of Partners Real Estate Co., has sold Clear Lake Business Park, a 149,305-square-foot industrial flex property located in the southern Houston suburb of Webster. Cary Latham and Josh Lass-Sughrue of NAI Partners represented Partners Capital, which originally acquired the asset in February 2019, in the transaction. The buyer and sales price were not disclosed.