SUN PRAIRIE, WIS. — Scannell Properties has broken ground on a 102,125-square-foot industrial and office facility for Kollege Town Sports in Sun Prairie, approximately 15 miles northwest of Madison. Kollege Town Sports is a division of Riddell, a designer and developer of athletic apparel and equipment. The building, situated on 13 acres, will support operations such as sales, production and warehousing. Kollege Town will transition to the new facility from its current location in Windsor in spring 2017. The project team includes Avison Young, real estate consultant and construction manager; Incentis Group, public incentives consultant; Scannell Properties, developer; Heitman Architects, architect; Sullivan designBUILD, general contractor; and Quam Engineering, civil engineer.
HOUSTON — Wellington Fisher Ltd., a subsidiary of Houston-based Wellington Development Co., has sold 17 acres located at the corner of North Main Street and I-1 to the University of Houston. The partnership originally purchased the property from former Houston Rockets star Hakeem Olajuwon. The site has since been used for parking. The University of Houston—Downtown plans to build a science and technology building on the site. Brendan Lynch of CBRE and Rudy Hubbard of JLL represented the seller.
HOUSTON — NAI Partners has represented Pac-Van Inc. in leasing a freestanding office/warehouse facility situated on 3.1 acres at 12206 Beaumont Highway in Houston. Founded in 1993 in Indianapolis, Pac-Van specializes in providing portable storage and office space solutions. The company provides 14-gauge steel storage containers. Michael Keegan of NAI Partners represented the tenant, Pac-Van, during lease negotiations, while Fausto Nolassco of Realty Associates represented the landlord, Gabriel Valeriano.
NORWICH, CONN. — Lyman Real Estate has arranged the lease of a 6,400-square-foot office building located at 550-558 W. Thames St. in Norwich. Mindscape Industries, which provides acquired brain injury rehabilitation services, signed a five-year lease for the building. Ron Lyman of Lyman Real Estate represented the undisclosed landlords in the transaction.
CHICAGO — Hertz Investment Group has purchased four office buildings in the Midwest for $416.9 million. Equity Commonwealth sold the 3.1 million-square-foot portfolio. The transaction includes 111 Monument Circle and 101-115 West Washington Street in Indianapolis, North Point Office Complex in Cleveland, and 100 East Wisconsin in Milwaukee. The portfolio was 86.5 percent leased at closing. Formerly known as Chase Tower, 111 Monument Circle is now referred to as Salesforce Tower in honor of its newest tenant. At 48 stories high, it is the tallest building in Indianapolis. The PNC Center sits at 101-115 W. Washington St. It features a 16-story atrium. The center houses the Hyatt Regency Indianapolis hotel, along with PNC Bank. North Point Office Complex includes a five-story and a 19-story office building connected through a nine-story atrium. It is home to Jones Day law firm, among other tenants. The Faison Building sits at 100 East Wisconsin Ave. The 37-story tower is the second highest building in Wisconsin, behind the U.S. Bank Center. It’s home to Wells Fargo Bank, Michael Best & Friedrich, Marcus Corp. and PricewaterhouseCoopers. Equity Commonwealth, a Chicago-based REIT, also sold a 121,901-square-foot office property at 8701 North Mopac in Austin, Texas, earlier this …
DENVER — Accounting firm Eide Bailly has leased 29,704 of office space at One Belleview Station, a transit-oriented-development within the Denver Tech Center. The firm will occupy the entire seventh floor. One Belleview Station is scheduled for delivery on Dec. 1 of this year. It will feature 318,000 square feet of Class AA office space. The new space will allow Eide Bailly to consolidate its Golden and Denver Tech Center offices into a single location. The general contractor for One Belleview Station is Weitz, while Gensler’s Denver studio is the architect. The master developer is Front Range Land and Development Co.
DALLAS — Grander Capital Partners LLC has purchased Emerald Plaza, a 74,182-square-foot office building located at 14900 Landmark Boulevard in Dallas. The purchase of the six-story office building is Grander Capital’s first in the Dallas-Fort Worth area. Grander Capital has retained Ward Eastman and Rodney Helm of Cushman & Wakefield to lease the property. Grander Capital’s investment in Emerald Plaza includes plans to modernize the building’s lobby, signage and landscaping. Located in the Quorum Market near the Dallas North Tollway, Emerald Plaza is 84 percent leased and includes amenities such as 100 percent underground parking and proximity to several restaurants and retail establishments.
HOUSTON — Colvill Office Properties (COP) and Cushman & Wakefield have secured a 52,822-square-foot lease for Saudi Basic Industries Corp. (SABIC) at 2500 CityWest Boulevard, a 578,284-square-foot office building located in Houston’s Westchase District. SABIC recently expanded its presence at the Class A asset, taking two full floors totaling 46,063 square feet and another 6,759 square feet in the lobby. This brings SABIC’s capacity at the 25-story tower to 75,840 square feet. David Guion and Tim Relyea of Cushman & Wakefield represented SABIC in the lease transaction. Win Haggard of COP represented the property ownership, Crimson Real Estate Fund LP, a private equity fund sponsored by Patrinely Group and USAA Real Estate Co.
DALLAS — Veritas Advisory Group Inc. has signed a long-term, 19,166-square-foot lease extension and expansion for its Dallas office at Thanksgiving Tower. Veritas provides forensic accounting, litigation support and expert witness testimony to clients in a variety of industries, including banking, construction, energy, manufacturing and telecommunications. Arthur Green of Avison Young represented Veritas Advisory in renewal negotiations. A $38 million infrastructure, lobby and plaza area renovation is underway at Thanksgiving Tower that is scheduled for completion by the end of 2016. Improvements include HVAC replacement, thermal storage tank refurbishment, elevator modernization and podium redevelopment.
CARMEL, IND. — Rubenstein Partners LP and Strategic Capital Partners have acquired Parkwood Crossing, a 1.2 million-square-foot office complex in Carmel approximately 25 miles north of Indianapolis, for $162.9 million. The seller, Duke Realty Corp., developed the eight-building property between 1989 and 2005. The buyers will build a standalone amenity center, which will feature dining, fitness, conference and collaboration space. The joint venture also plans to make upgrades to the buildings’ aesthetics and physical systems. JLL brokered the transaction and will serve as exclusive leasing agent for the property.