NEW YORK CITY — Brookhill Properties has purchased a five-story residential and commercial building located at 332 E. 9th St. in Manhattan East Village. Tabak Family Realty Co. sold the property for an undisclosed price. Built in 1920, the 9,546-square-foot property features 20 residential units and two commercial spaces. Paradigm Commercial Real Estate assisted Brookhill in the transaction.
ROCKVILLE, MD. — Washington Property Co. (WPC) has completed the conversion of an 82,000-square-foot office building at 4 Research Place in Rockville to a CubeSmart self storage facility, which is now open for business. The Bethesda-based company has also acquired an adjacent office building, known as One Research Court, in a joint venture with Baltimore-based Alex. Brown Realty Inc. for $17 million. The four-story CubeSmart features 715 climate-controlled storage units, and the top two floors have elevator access, while the lower two levels are at grade. One Research Court is a 113,620-square-foot office building constructed in 2001. The property was 89 percent leased at the time of sale to 14 tenants. The joint venture plans capital improvements at the property, including upgrades to the lobby, bathrooms, elevators and fitness center, as well as the addition of a conference center in the building. WPC is now leasing and managing the project.
KANSAS CITY, MO. — Cushman & Wakefield has brokered the $5.7 million sale of a 207,421-square-foot office building in downtown Kansas City. Stencil Group sold the Executive Plaza Office Building, more commonly known as The Flashcube, to Worcester Investments. HOK designed the facility, which was built in 1974. The buyer plans to convert the building into a 181-unit residential property, a project expected to cost $43 million. The property is located at 710-720 Main St., and the sale included an adjacent surface parking lot.
SPRINGFIELD, MASS. — Albany Road Real Estate Partners and Davenport Cos. have arranged the lease of office space for the Massachusetts Registry of Motor Vehicles (RMV) within Springfield Plaza in Springfield. RMV will relocate from 165 Liberty St. in Springfield and launch a full-service branch at the 17,639-square-foot space. RMV plans to take occupancy at the 500,000-square-foot retail center in the fourth quarter. Davenport Advisors is the construction manager for the relocation and build-out for the new space. Additional tenants at the newly renovated center include Kmart, Stop & Shop, Planet Fitness, O’Reilly Auto Parts and Fallas Stores. CBRE/New England is the property manager for the retail center.
WOONSOCKET, R.I. — Sweeney Real Estate & Appraisal has brokered the sale of the former Woonsocket Glass & Mirror building, located at 500 Pond St. in Woonsocket. T&T Woodworkers acquired the 12,791-square-foot property for an undisclosed price. The property features a drive-in door, loading dock, 18-foot ceiling heights in the warehouse, office space and a showroom area. Thomas Sweeney of Sweeney Real Estate & Appraisal represented the seller, Woonsocket Glass Fabricators, while Larry Steingold of MG Commercial represented the buyers in the deal.
PASADENA, CALIF. — An unnamed buyer has purchased a 62,286-square-foot boutique office building in the Old Town section of Pasadena for $30 million. The building is located at 150 E. Colorado Blvd. The building is 89.3 percent leased to tenants in the healthcare, insurance, technology and professional service industries. Notable tenants include OpTerra Energy Services, Companion Hospice, Intelecom Intelligent and American Postal Workers. The property is situated near the 210 and 134 freeways, within walking distance of more than 20 million square feet of retail amenities. Long Dragon Realty represented the buyer, while HFF’s Ryan Gallagher and Andrew Harper represented the seller, Equity Office, in this transaction.
TOMBALL, TEXAS — Colliers International has brokered the sale of a 5.5-acre tract of land on Spell Road just west of Hufsmith Kohrville Road in Tomball. The $25 million project, the second for the Tomball Business and Technology Park, will consist of a 42,700-square-foot laboratory and office facility expected to hold 75 employees. Tom Condon Jr. of The Woodlands office of Colliers International represented the seller, Tomball Economic Development Corp. Gray Gilbert of CBRE represented the buyer, GE Betz Inc. Jane Matthews of Stewart Title Tomball coordinated the closing.
HOUSTON — CBRE has negotiated a 38,561-square-foot lease renewal for container operator Cosco Container Lines Americas Inc. The office facility is located at 15600 John F Kennedy Blvd. in Houston. Cosco will renovate the space to accommodate new hires. CBRE’s Kevin Saxe and Jerrod McQuain negotiated the lease on behalf of Cosco. Wade Bowlin of PMRG represented the landlord, 15600 JFK Houston Partners LLC.
WASHINGTON, D.C. — Harbor Group International (HGI) has sold a 297,238-square-foot office building located at 820 First St. in Washington, D.C., for $140.5 million. The building’s anchor tenant is the regional headquarters of CNN. HGI, along with investment partners Capstone Equities and Image Capital, purchased the office building in October 2012 for $107 million. Built in 1990, the 11-story building in D.C.’s Capitol Hill North submarket was 96 percent leased at the time of sale to tenants such as Accenture and various U.S. government agencies.
MILWAUKEE — The Boulder Group has brokered the sale of a 110,636-square-foot office building net leased to US Bank for $14 million. The property, located a 615 E. Michigan St. in Milwaukee, is connected via a sky-walk to US Bank regional headquarters building. A Midwest-based partnership in a 1031 exchange purchased the facility from Oak Street Real Estate Capital. US Bank’s lease expires in December 2026. Randy Blankstein and Jimmy Goodman of The Boulder Group represented both parties in the transaction.
