OXNARD, CALIF. — The Johnston Group has purchased a 115,000-square-foot office building in Oxnard for an undisclosed sum. The building is located at 1000 Town Center, within the RiverPark community. The space is adjacent to the Collection, a new 700,000-square-foot, open-air retail center. The office building was 97 percent leased at the time of sale. The seller was Equity Office Properties. The Johnston Group owns five other office properties in Westlake Village, Thousand Oaks and Simi Valley.
IRVINE, CALIF. — Greenwave Systems has signed a full-floor lease for 22,150 square feet of office space at the new 200 Spectrum Center Drive in Irvine. The space is situated within the Irvine Spectrum submarket. The global software and services company will move into the 15th floor space this fall. It will allow the company to more than double its current space at the nearby Corporate Business Center. The new lease will bring the campus to 60 percent occupancy. Other notable tenants include Mazda North America Operations, Curse Inc. and WeWork. Irvine Co. owns the building.
SCOTTSDALE, ARIZ. — Desert Troon Cos., a Scottsdale-based real estate developer, has sold a 638,717-square-foot office portfolio within the 260-acre Perimeter Center business park in Scottsdale. The buyers, Wentworth Property Co. LLC (WPC) and Northwood Investors, purchased the Class A portfolio for $122 million. Desert Troon originally developed the five-building portfolio, which features Perimeter Gateway I, II, III and V, and Terra Verde. WPC plans to start renovations to the portfolio immediately, including upgrades to the lobbies and common areas of Perimeter Gateway I, II and V, as well as adding a cafe, tenant lounge and fitness center to Perimeter Gateway I that will be available to tenants of all four Perimeter Gateway buildings. WPC also plans to convert roughly 162,000 square feet of the portfolio into spec space, with each building having two or three spec office suites. In addition, WPC plans to build two new parking garages, with construction starting in the third quarter for an estimated 2017 completion. Tom Knoell Jr. represented Desert Troon internally in the transaction, and Jeff Wentworth, Chris Walker, Mike Beall and Sean Spellman of Cushman & Wakefield represented the buyers. “As one of the premier office portfolios in the state, it has …
SCOTTSDALE, ARIZ. — Arcadia Sky LLC has purchased Corporate Center @ Kierland, a 107,846-square-foot office development in the Scottsdale Airpark submarket, for an undisclosed sum. The Class A asset was 88 percent leased at the time of sale. Notable tenants include American Express Global Business Travel and Berkshire Hathaway Home Services. Trent Rustan and Josh Gosnell of Commercial Properties represented the buyer. CBRE’s Barry Gabel, Chris Marchildon, Kevin Shannon, Glenn Smigiel and Bob Young represented the institutional seller.
ELK GROVE VILLAGE, ILL. — Darwin Realty has arranged a 58,627-square-foot office and industrial lease for Porreca Freight, a local pick-up and delivery service provider. The building is located at 1850 Greenleaf Ave. in Elk Grove Village, approximately 25 miles northwest of Chicago. The facility features 11 exterior docks, two drive-in doors, 16-foot clear heights and parking. Richard Daly of Darwin Realty represented the tenant in the transaction. Jonathan Kohn and Tom Rodeno of Colliers International represented the landlord.
ST. MICHAEL, MINN. — Marcus & Millichap has brokered the sale of a 13,765-square-foot office property for $1.8 million. The Cornerstone is located at 1 Central Ave. W. in St. Michael, approximately 30 miles northwest of Minneapolis. A developer sold the asset to a private investor. Cory Villaume, Sean Doyle, Matthew Hazelton and Adam Prins of Marcus & Millichap listed the property on behalf of the seller and represented the buyer.
OAK BROOK, ILL. — CBRE has arranged an 11,195-square-foot office lease in Oak Brook, approximately 20 miles west of Chicago. Command Alkon Inc. will occupy the space at Oak Brook 22. The property, purchased by Golub Co. in 2014, has recently undergone renovations such as a redesigned lobby and lounge area, a new fitness center and a new conference center. The Class A building, located at 1211-1315 W. 22nd St., is 95 percent leased. Pete Adamo, Bill Elwood and Tara Torbik of CBRE represented Golub in the transaction. Jon Azulay of Savills Studley represented Command Alkon.
TULSA, OKLA. — CBRE has negotiated a five-year lease renewal and expansion for the BOK Financial at Bank of Oklahoma Place at Southern Hills. BOK Financial will occupy 27,091 square feet following a 3,758-square-foot expansion at 5727 S. Lewis Ave. in Tulsa. BOK Financial has been a tenant of the property since 2005. BOK Financial is a regional financial services company based in Tulsa with more than 80 banking centers statewide. Mary Martin with CBRE’s Tulsa office represented the landlord, Allegiancy Houston LLC, in the lease transaction.
AUSTIN, TEXAS — CIM Group has acquired a 95,000-square-foot, four-story office building located at 1645 E. 6th St. in east Austin. The building is part of the three-building Eastside Village mixed-used development that includes an eight-story, 700-stall parking garage, of which 368 stalls are allocated to the office building. The development also includes a four-story, 346-unit apartment building atop ground-floor retail space. Eastside Village is transit-oriented complex located near the Plaza Saltillo MetroRail station.
SYRACUSE, N.Y. — Second City Real Estate has completed the sale of Salina Meadows, a four-building office property located at 200, 220 and 231 Salina Meadows Parkway and 301 Plainfield Road in Syracuse. A local investor acquired the 239,320-square-foot Class A office park for $15.8 million. At the time of sale, the office park was 85.2 percent leased to a variety of tenants, including Traveler’s Indemnity Co., Mutual of Omaha Insurance Co., Walgreen Co. and Acadia Insurance Co. Rob Rizzi, Jose Cruz, Kevin O’Hearn, David Fowler and Michael Oliver of HFF represented the seller in the transaction.