NORTH HOLLYWOOD, CALIF. — Marcus & Millichap has arranged the acquisition of a four-building retail/office property located at 11305-11335 Magnolia Blvd. and 5215 Bakman Ave. in North Hollywood. Elijah 27 LLC acquired the 20,139-square-foot property from a family trust for $7 million. Martin Agnew, Jessica Kelley and Ryan Rothstein-Serling of Marcus & Millichap represented the buyer, while Scott McCauley of Corporate Realty Services represented the seller in the 1031 exchange.
PLANO and LEWISVILLE, TEXAS — CBRE has arranged the sale of Dominion Legacy Office Center in Plano and Lakeside II Office Center in Lewisville. Developed by Myers & Crow Co. and completed in 2014 and 2015, respectively, both properties are fully leased to single tenants and offer a combined total of 173,214 square feet. The Aztec Fund acquired the assets for an undisclosed price. CBRE’s Gary Carr, Eric Mackey, John Alvarado, Jared Chua, Robert Hill and Pete Van Amburgh arranged the transaction on behalf of Myers & Crow. Dominion Legacy spans 92,250 square feet and serves as the headquarters of CompuCom Systems Inc. Spanning 80,964 square feet, Lakeside II is fully leased to a regional service center of Teachers Insurance and Annuity Association of America (TIAA).
HOUSTON — Waterman Steele Real Estate Advisors has arranged a lease for A+UP, a local charter school that will move to a new location at 3353 Elgin St. in the historic Greater Third Ward of southeast Houston. Waterman Steele’s Tami Pearson and Sage Klement represented A+UP in the transaction. Bob Parsley of Colliers International represented the landlord, Change Happens. A+UP Charter Schools was founded in 2013. Students range in age from 11 to 14. A+UP enrolls 60 students and plans to increase enrollment to 180 students within three years.
UNION CITY, N.J. — Sun Equity Partners has acquired Silk Mill Lofts, a historic commercial building located at 540 39th St. in Union City, for an undisclosed price. The buyer has a multi-million-dollar capital improvement program planned for the 125,000-square-foot property — which is dedicated to artist-work spaces — to upgrade the exterior, common spaces, building systems and loft-style studios. The property is currently 55 percent occupied by practicing artists and creative professionals involved in the visual arts, photography, sculpture, painting and glass works. Lee Levine Architects is serving as architect for the renovation of the property, which was originally built in 1874.
PHILADELPHIA — Accesso Partners has increased the occupancy at 1515 Market Street from 82 to 92.3 percent within the past 18 months. The Hallandale, Fla.-based real estate investment manager acquired the 20-story, 502,000-square-foot office tower in 2014 and implemented an upgrade and renovation plan to increase occupancy. The plan included adding a conference center on the ninth floor and upgrading the lobby, elevator cabs, underground concourse entrance, common corridors and bathrooms. Approximately 47,081 square feet of office space leases were executed in the first half of this year and leases totaling another 10,000 square feet of space are out for signature. Current tenants include Sage Acquisitions; the law firm of Steven L. Chung Esq.; McMahon Engineering; GZA Geoenvironmentalists; HDR Engineers and Architects; Manley Deas Kochalski; Brainard Partners; Walker Nell; Cavo; O’Brian, Rulis and Bochicchio; Wade, Clark Mulchay; Legal Search; R-T Specialty; the administrative office of the Pennsylvania Supreme Court; Temple University; and Temple University’s Café Bookstore, operated by Barnes & Noble. Alex Breitmayer, Joshua Sloan and Drew McGowan of JLL are leasing agents for the property.
BEDFORD, MASS. — Nordblom Co. has leased 21,000 square feet of office space to Augmenix Inc., a medical device company. The company will relocate its corporate headquarters from Waltham, Mass., to 201 Burlington Road in Bedford late this year. The privately held company focuses on the development and commercialization of radiation oncology and urology products using its proprietary hydrogel technology. The two-building, 135,000-square-foot property features an on-site café, bike storage, state-of-the-art fitness facility and shower/locker facilities.
NEWTON, MASS. — Transwestern has negotiated two leases totaling 36,854 square feet at Chapelbridge Park, an office park located in Newton. The new leases bring the 250,000-square-foot property to more than 95 percent occupancy. In the first transaction, Paytronix Systems Inc. expanded its corporate headquarters space from 12,383 to 33,283 square feet. Ted Lyons and Michael O’Leary of Cushman & Wakefield represented Paytronix in the lease. In the second deal, Ixxus Limited, a global provider of publishing solutions, signed a lease for 3,571 square feet of space for its U.S. headquarters. Warren Brown of Boston Commercial Properties represented the tenant, which is relocating from Washington Street in Newton. Ron Friedman, Rob Byrne, Chris Mullen and Perry Beal of Transwestern represented the landlord, Chapelbridge Associates, in the transactions.
DENVER — CommercialTribe has leased 10,473 square feet of office space in Denver’s LoDo (Lower Downtown) district. The space is located at the Guaranty Bank Building at 1331 17th St. An oil and gas firm formerly occupied the space. JLL’s Ken Gooden and David Shirazi executed this lease transaction.
HOUSTON — JLL has secured an anchor tenant at 1885 Saint James Place, a Class A office building in Houston. Houston-based construction law firm Andrews Myers P.C. will relocate from its current office at 3900 Essex Lane to the top two floors of 1885 Saint James Place. The company signed for 30,102 square feet, encompassing the 14th and 15th floors of the building. Craig Hausman and Tony Allen of Pollan Hausman Real Estate Services LLC represented Andrews Myers in the transaction. JLL’s Chrissy Wilson and Russell Hodges represented the landlord, 1885 St. James Place Partners LP, in the transaction. The building is 27 percent leased. Construction was completed this summer on the 165,000-square-foot office building located south of the Tanglewood neighborhood. The building features nine floors of office space situated atop six floors of above-grade parking. The property’s amenities include a fitness center, conference center, food service, on-site security, on-site property management and covered, in-building parking for all employees.
LEAGUE CITY, TEXAS — Lee & Associates’ Houston office has arranged the sale of a 9,000-square-foot office/industrial building at 2227 Gulf Freeway S. in League City, a suburb of Houston. The buyer was KSSG 646 Investments LLC. Mike Spears and Thomas Leger of Lee & Associates represented the seller, Sanberg Investments, in the transaction.
