HOUSTON — Reytec Construction Resources Inc. has purchased approximately 14 acres of land at the corner of Bingle and Tidwell roads in northwest Houston for the development of Reytec’s new, 32,000-square-foot office headquarters. Trey Erwin and Walker Barnett of Colliers International represented Reytec and investment partner RES Bingle Partners LP in the transaction. Thomas Monaghan and Jeff Lindenberger of Avison Young represented the seller.
DEERFIELD, ILL. — Caterpillar Inc. has unveiled plans to move its global headquarters from Peoria to Deerfield, a northern suburb of Chicago. The new building is located near Chicago O’Hare International Airport. Caterpillar arranged a multi-year leasing agreement with Corporate 500 office park. While the majority of employees will not be relocating, the company expects about 100 workers will move to the new building this year. The company says about 300 employees will be in the new headquarters when it is fully operational in mid-2018.
TROY, MICH. — Colliers International will handle leasing at The Centennial, a prominent office property in the Troy skyline. The 306,000-square-foot, 15-story building is located at 100 E. Big Beaver Road. The ownership has made numerous upgrades to the building systems and elevators, and has initiated a multimillion-dollar upgrade of the common areas. Amenities include a new conference center, building deli, tenant lounge, and co-working facility. The common area amenities will be available for tenants of the building as well as to rent for members of the community. Tenant spaces available for lease range from 2,500 to 175,000 square feet. Gary Grochowski and Bryan Barnas of Colliers will oversee the leasing.
LISLE, ILL. — First Western Properties Inc. has brokered the sale of 2 Woodland Corporate Center in Lisle, about 25 miles west of Chicago, for $4.7 million. The 56,000-square-foot office building is located at 4951 Indiana Ave. The property is 100 percent leased to two investment-grade tenants. Bradford Dessy of First Western Properties represented the out-of-state buyer. Jason St. John of Greenstone Partners represented the undisclosed seller.
NORWALK, CONN. — Cushman & Wakefield has arranged the $11.9 million sale of Belden Square, a two-building medical office/residential apartment complex located at 747 Belden Ave. in Norwalk. Belden Square LLC purchased the newly renovated, 45,000-square-foot property, formerly the U.S. headquarters of Virgin Atlantic, from SG Belden LLC. The Cushman & Wakefield team of Al Mirin, Kate Schwartz, Matthew Torrance and Kathleen Fazio represented the seller. The buyer was self-represented.
Sitar Realty-TCN Worldwide Negotiates $3.1M Sale of Warehouse/Office Building in Wall Township, N.J.
WALL TOWNSHIP, N.J. — Sitar Realty Co.-TCN Worldwide has negotiated the $3.1 million sale of a 44,000-square-foot warehouse/office building located at 1325 Route 34 in Wall Township. 1325 Wall LLC was the seller and Chester Lieder was the buyer. Gregg Nowell and Doug Sitar of Sitar Realty were the brokers in the transaction.
AUSTIN, TEXAS — Equitable Commercial Realty (ECR) has negotiated a 16,444-square-foot lease on behalf of engineering firm Cobb, Fendley & Associates Inc. at Centennial Towers, an office property located at 505 E. Huntland Drive in Austin. Matt Levin and Jason Steinberg of ECR represented the landlord in the transaction. Jason Whittington of NAI Partners represented the tenant.
LOS ANGELES — Omninet Capital LLC has purchased the four-building Los Angeles Corporate Center in the Monterey Park submarket for an undisclosed sum. The office campus is located at 900, 1000, 1200 and 1255 Corporate Center Drive. The Class A campus contains a total of 394,524 square feet. It is 95 percent occupied with tenants like the State of California, Los Angeles County, State Compensation Insurance Fund, Synermed and AT&T. Sean Fulp, Kevin Shannon, Ken White and Brunson Howard of NGKF Capital Markets represented the seller, Equity Office Properties, in this transaction.
SAN DIEGO — A private investor has acquired Paseo Palomar, a 60,649-square-foot office building in the San Diego submarket of Vista, for $12.8 million. The low-rise building is located at 3220 Executive Ridge. Paseo Palomar is fully leased to tenants like Jaguar Mobile Inc., Chandler Signs and 101domain.com. The property is less than two miles from Bressi Ranch Village Center, one of the area’s major shopping centers. CBRE’s Gary Stache, Anthony DeLorenzo, Matt Pourcho and Doug Mack represented the seller, Rialto Capital/Birtcher Anderson Realty, in this transaction.
FORT WORTH, TEXAS — Bradford Commercial Real Estate Services has negotiated a sublease for 20,752 square feet of Class A office space at 777 Main St. in downtown Fort Worth. Erik Blais and Nick Talley of Bradford Commercial represented the sublandlord, Trinity River Energy LLC, in the transaction. The new subtenant, TEP Barnett, a division of French oil and gas company Total E&P, will occupy the 37th floor of the 40-story, 955,000-square-foot building.