Office

RHYS Negotiates $18.5M Sale of Office Building in Greenwich, Connecticut

by Amy Works December 8, 2016

GREENWICH, CONN. — RHYS has arranged the sale of an office building located at 115 E. Putnam Ave. in downtown Greenwich. The Helen M. deKay Trust sold the property to 115 East Putnam Avenue LLC for $18.5 million. The 1.3-acre property, which is subject to a long-term ground lease, traded for more than $14 million per acre. The three-story building features 37,678 square feet of office space and 115 parking spaces. Cory Gubner and Christian Bangert of RHYS represented the seller, while Stephen Westerberg of Newmark Grubb Knight Frank represented the buyer in the transaction.

December 8, 2016

Indiana Market Reports Midwest Midwest Market Reports Office

Investment by Salesforce.com in Indianapolis Office Tower Creates Ripple Effect

by Jeff Shaw December 8, 2016

Downtown Indianapolis is already feeling the impact of Salesforce.com Inc.’s recent decision to lease more than 220,000 square feet for a new regional headquarters in the state’s tallest office building, located at 111 Monument Circle. The firm’s $40 million investment over 10 years includes expansion plans for its regional headquarters as well as changing the name of the 48-story office tower from Chase Tower to Salesforce Tower Indianapolis. This will be one of only four towers in the world that bear the Salesforce name — the others are located in New York, London and San Francisco. Salesforce.com, a publicly traded company (NYSE: CRM), is a business software provider best known for applications that help salespeople track customer contacts and marketers plan campaigns, according to The Wall Street Journal. The San Francisco-based tech company currently has 1,400 employees in Indianapolis and plans to hire 800 new employees over the next five years. The company is expected to move into the tower in early 2017. The firm currently leases space in three other buildings downtown. This speaks volumes about Indianapolis’ efforts to become the Midwest hub for technology. While Salesforce is one of Indianapolis’ largest technology employers, nearly 100 tech companies are …

December 8, 2016

Illinois Midwest Office

Colliers International Brokers 18,132 SF Office Lease for Aeris in Chicago

by Kristin Harlow December 7, 2016

CHICAGO — Colliers International has brokered the lease of 18,132 square feet of office space for Aeris in Chicago. The Santa Clara, Calif.-based technology company has expanded to the Chicago location at 435 N. LaSalle St. The 50,000-square-foot building was originally constructed in 1906. Elmdale Partners has completed renovation of the building. Corby Marx and Evan Djikas of Colliers International represented Aeris in the transaction. Andrea Saewitz and Benjamin Cleveland of Cushman & Wakefield represented property ownership.

December 7, 2016

Illinois Midwest Office

Bradford Allen Negotiates Lease Expansion for Ajinomoto in Itasca, Illinois

by Kristin Harlow December 7, 2016

ITASCA, ILL. — Bradford Allen Realty Services has negotiated a lease expansion and extension for Ajinomoto in Itasca, approximately 27 miles northwest of Chicago. The Japanese food and chemical corporation will be leasing an additional 7,159 square feet at 1300 N. Arlington Heights Road, where the company currently occupies 13,476 square feet. The 108,000-square-foot, Class A building is part of the Hamilton Lakes Office Park. Ajinomoto will take occupancy of the additional space in February 2017. Craig Nadborne of Bradford Allen completed the lease transaction.

December 7, 2016

Industrial Office Texas

Gemini BP Buys 142,315 SF Office, Warehouse Park in Houston

by Amy Works December 7, 2016

HOUSTON — Gemini BP LP has acquired Gemini Business Park, an office and warehouse park located at 902-930 Gemini St. in Houston. Situated on 8.5 acres, the park comprises three building totaling 142,315 square feet of leasable space. The multi-tenant park features a combination of dock-high and ground-level loading. At the time of closing, the industrial park was 97 percent leased and has since been 100 percent leased. Fred Ghabriel of Bejjani & Associates represented the buyer, while Preston Yaggi, Steve Kuper and Ryan Searle of Lee & Associates represented the undisclosed seller.

December 7, 2016

Connecticut Northeast Office

RHYS Closes $11M Sale of Office Building in New Canaan, Connecticut

by Amy Works December 7, 2016

NEW CANAAN, CONN. — RHYS has facilitated the sale of an office building located at 65 Locust Ave. in New Canaan. Morina Associates LLC acquired the property from 65 Locust Avenue LLC for $11 million, or $395 per square foot. At the time of sale, the 27,843-square-foot property was fully leased. Cory Gubner and Christian Bangert of RHYS represented the seller, while Bashkim Osmani of B&A Brokers Corp. represented the buyer in the deal.

December 7, 2016

temple-court-medical-building-stratford-ct

Connecticut Northeast Office

Avison Young Arranges Sale of 16,000 SF Office Building in Stratford, Connecticut

by Amy Works December 7, 2016

STRATFORD, CONN. — Avison Young has brokered the sale of Temple Court Medical Building, an office building located at 2590 Main St. in Stratford. Catherine J. Gong sold the three-story, 16,000-square-foot property to TimberRidge Associates for an undisclosed price. Neurological Specialists occupies the entire second floor of the property on a long-term lease. Eva Kornreich of Avison Young represented the seller, while the buyer had in-house representation.

December 7, 2016

Industrial Office Texas

Stream Realty Partners Negotiates Sale of 17,229 SF Office, Warehouse Property in San Antonio

by Amy Works December 7, 2016

SAN ANTONIO — Stream Realty Partners has brokered the sale of an office and warehouse building located at 5300 S.E. Loop 410 in south San Antonio. LBL 5300 LLC acquired the 17,229-square-foot property from CLN/WWMK LP for an undisclosed price. Jason Schnittger and Michael Kent of Stream Realty Partners – Central Texas represented the seller, while Nick Prater of 4M Realty represented the buyer in the deal.

December 7, 2016

Mixed-Use Multifamily New York Northeast Office Retail

Cushman & Wakefield Brokers $9M Sale of Commercial Building in Manhattan

by Amy Works December 7, 2016

NEW YORK CITY — Cushman & Wakefield has arranged the sale of a commercial building located at 92-94 Ludlow St. in Manhattan’s Lower East Side. The property sold in an all-cash transaction for $9 million, or $442 per buildable square foot. The site offers up to 20,342 buildable square feet and currently includes a 3,390-square-foot single-story commercial building. Zoned C6-1, the site allows for the development of commercial, residential or community facility spaces. The existing building is currently leased to Hotel Chantelle, a restaurant and club. Michael DeCheser, Darragh Clarke and Mei Ling Wong of Cushman & Wakefield brokered the transaction. The names of the seller and buyer were not released.

December 7, 2016

California Office Western

Cavium Leases Office Space at NextGen Campus in Irvine Spectrum

by Nellie Day December 6, 2016

IRVINE, CALIF. — Cavium has leased a four-story building within Irvine Co.’s new NextGen campus at Sand Canyon Business Center in Irvine Spectrum. The semiconductor product provider recently acquired networking and storage provider QLogic Corp., which will occupy the new space next summer. QLogic will join AutoGravity, an automotive financing firm that has leased 40,000 square feet in the project’s other four-story building. With these two leases, the NextGen campus is now 70 percent pre-leased. Jeff Hoffman and Tracey Solari of Newmark Cornish & Carey and Greg Tippin, Stacy Garcia and Byron Foss of Newmark Grubb Knight Frank represented Cavium in the transaction.

December 6, 2016

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