DALLAS — Gerald L. Ray, an investment services firm, has renewed its lease for 11,516 square feet of office space in Fountain Place, located at 1445 Ross Ave. just north of downtown Dallas. Bruce Hecht of Swearingen represented Gerald L. Ray in the transaction. Johnny Johnson and Lauren Napper of Cushman & Wakefield represented the landlord, Goddard Investments.
DALLAS — Rob Foster has joined Paradigm Tax Group as executive vice president of sales and marketing. The company has added several key managers following the move of its headquarters to Dallas last year. Foster joins Paradigm from tax advisory firm Altus Group, where he was head of North American sales and marketing and U.S. operations. Foster has built his career in the state and local tax advisory business, gaining experience in leadership roles at Deloitte, Burr Wolf and Marvin Poer & Co.
BASKING RIDGE, N.J. — Daiichi Sankyo Inc. has signed a long-term lease for an office property located at 211 Mount Airy Road in Basking Ridge. The pharmaceutical firm plans to relocate its U.S. headquarters to the three-building campus, which was the former Avaya campus. The property features a full cafeteria, state-of-the-art fitness facilities, a 127-seat auditorium and an on-site conference center. After acquiring the property in 2013, Rubenstein Partners and Onyx Equities upgraded and repositioned the facility for modern office needs.
NEW ROCHELLE, N.Y. — GHP Office Realty has acquired an office building located at 140 Huguenot St. in New Rochelle. The asset sold for $6.4 million. The three-story building features 64,000 square feet of Class A office space, a 34-car on-site parking garage and a 26-car parking lot. At the time of sale, the property was 80 percent occupied by a variety of tenants, including Mary Ann Liebert Inc. and Monroe College. The buyer plans to upgrade the property including building systems, security and cosmetic changes to the façade and lobby. The name of the seller was not released. Elizabeth Smith of Goldberg Weprin Finkle Goldstein provided legal representation, and Ray Cohen of Chicago Title Co. provided title services for GHP in the transaction.
NATICK, MASS. — New Dover Associates has arranged the sale of an office/R&D building located at 2-4 Mercer Road in Natick. Nivek Investments I LLC sold the 17,875-square-foot building to 2-4 Mercer Road LLC for $3.9 million. Situated on 1.4 acres, the building is located within the Natick Business Park. Scott Hughes of New Dover Associates represented the seller and procured the buyer in the transaction.
BOSTON — An affiliate of TIAA has purchased a seven-property office portfolio totaling 408,342 square feet in Boston for $224 million, or approximately $550 per square foot. An account advised by New York-based Clarion Partners was the seller of the portfolio, which is located in the Fort Point Channel neighborhood of Boston’s seaport district. Clarion acquired the offices in 2012 for a combined $129.3 million from an affiliate of New York-based Angelo, Gordon & Co. Properties within the 97 percent leased portfolio are located at 263 Summer St.; 332 and 374 Congress St.; and 33-41, 34, 38 and 44 Farnsworth St. The six offices span between five and nine stories and were built between 1890 and 1920, according to the Boston Business Journal. The portfolio also includes a 16-space parking lot. Originally built in the early 1900s, the properties feature high-quality office space with exposed ceilings and natural lighting. Coleman Benedict and director Ben Sayles led the HFF investment sales team, which represented the seller and procured the buyer. According to the Journal, the Farnsworth Street offices will host General Electric Co. (GE) temporarily while the company builds a permanent headquarters on nearby Necco Ct. “TIAA is one of the …
JERICHO, N.Y. — Metropolitan Realty Associates LLC and Angelo Gordon & Co. have completed the sale of Jericho Atrium, an office building located at 500 N. Broadway in Jericho. A Long Island-based real estate company purchased the 148,563-square-foot property for $29.7 million. Situated on 8.6 acres, the two-story building features parking for 690 vehicles, a fitness center, conference center and daytime concierge. Notable tenants include American Investment Planners, Clinical Trial Media, NMS Management and Elias Properties. Jose Cruz, Kevin O’Hearn and Evan Pariser of HFF represented the seller in the transaction.
ASHLAND, MASS. — SVN|Parsons Commercial Group|Boston has arranged the sale of an office/retail property located at 200 Homer Ave. in Ashland. WD Homer LLC acquired the property from NEREEF Ashland LLC for $7.8 million. The buyer plans to upgrade the building to attract more businesses to Ashland. Victor Galvani of SVN|Parsons Commercial Group|Boston represented the seller and buyer in the transaction.
NATICK, MASS. — Sunshine Technologies Holding Corp. has acquired an office/R&D building, located at 21 Strathmore Road in Natick. GMG 21 Strathmore Road LLC sold the 15,504-square-foot property for $3.9 million. Scott Hughes of New Dover Associates and Nina Crowley of Boston Signature Homes co-brokered the sale.
WOODLAWN, MD. — Knott Realty Group has begun construction on Rolling Run Technology Park, a single-story, 58,000-square-foot office building located at 2270 Rolling Run Drive in Woodlawn, a town in Baltimore County’s Windsor Mill neighborhood. The real estate development and management company expects to deliver the Class A property this fall. The Mullan Contracting Co. will serve as the general contractor for the building. The building will feature 16-foot ceilings, private office entries and a parking ratio of 4.5 spaces per 1,000 square feet. The property will be situated adjacent to the Centers for Medicare & Medicaid Services office complex and will be roughly two miles from I-695.