PHOENIX – Griffin Capital Corporation has purchased a 513,361-square-foot office building and data center complex in Phoenix for $91.5 million. The complex is located at 3151 and 3202 West Behrend Drive. The property is fully occupied by American Express Travel Related Services Company. The company is a subsidiary of American Express. American Realty Advisors was represented by CBRE’s Jim Fijan and Chad Freese.
PARSIPPANY, N.J. — Cushman & Wakefield has brokered the acquisition of a two-building office complex located at 1140 and 1160 Parsippany Blvd. in Parsippany. Micro Strategies Inc. purchased the property, which totals 46,000 square feet, from Hampshire Cos. for an undisclosed price. The Morris County, N.J.-based buyer plans to relocate its headquarters from Denville and Rockaway, N.J., to the newly acquired office complex. Slava Vaynberg, Marc Trevisan and David Sherman of Cushman & Wakefield arranged the off-market transaction.
WORCESTER, MASS. — Kelleher & Sadowsky Associates has brokered the sale of an office building located at 25 Harvard St. in Worcester. 25 Harvard Street LLC purchased the 5,400-square-foot property, known as the Otis E. Putnam House, from Phylis Jaffee of Jaffee & Associates CPA for an undisclosed price. Aisling Partners will relocate to the property from 446 Main St. in late summer/early fall. Paul Matt and David Cohen of Kelleher & Sadowsky represented both parties in the transaction.
LAKE ORION, MICH. — Bernard Financial Group has arranged a $5.7 million non-recourse loan for BKG Orion, a 115,545-square-foot office and industrial property located in Lake Orion. The borrower is BKGE Orion LLC. Dennis Bernard and Kevin Kovachevich of Bernard Financial, which will service the loan, arranged the financing, which was provided by a national CMBS lender.
NORTH MIAMI BEACH, FLA. — Faith Investment Properties Group has purchased two office buildings known as Venture Center in North Miami Beach for $7 million. The Aventura, Fla.-based investment firm has several medical office buildings in its portfolio in the vicinity, which is close to Jackson North Medical Center. FIP Realty Services LLC, an affiliate of Faith Investment Properties, represented the buyer in the transaction.
FARMINGTON HILLS, MICH. — Southfield, Mich.-based NAI Farbman Group has acquired an office building located at 27777 Inkster Road in Farmington Hills for an undisclosed price. Situated on 35 acres, the property offers 275,000 square feet of Class A office space and ample parking. The former owner, TD Auto Finance, will continue to lease 155,000 square feet of the building.
SAN DIEGO – SR Commercial has purchased a 35,335-square-foot R&D/flex office complex in the Sorrento Valley submarket of San Diego for an undisclosed sum. The two-building complex is located at 10505 Roselle Street and 3770 Tansy Street. SR Commercial plans to make significant improvements to the buildings, which are currently vacant. They will then be marketed for lease, both together and separately.
SAN ANTONIO — NAI Partners, a regional commercial real estate services firm based in Houston, has opened an office in San Antonio. Clare Flesher will serve as managing director, and Melissa Crimson will serve as senior client services coordinator. Flesher began his commercial real estate career in Houston working for CBRE in the office tenant representation arena. He then moved to San Antonio and has spent the past eight years focused on office corporate services. Most recently, Flesher served as a director with Travis Commercial Real Estate Services.
LOS ANGELES – Health and fitness company Beachbody has opened a new technology center in Westlake North Business Park, which is located in the Westlake Village submarket of Los Angeles. The park’s address is 30699 Russell Ranch Road. The new 16,000-square-foot space will house the company’s Beachbody On Demand offering, which provides streaming access to the company’s world-class fitness programs. The Westlake Village location is Beachbody’s third outpost in Southern California. Its world headquarters are located in Santa Monica, with additional operations based out of El Segundo. The company was represented by JLL’s Jordan Kissel, Tony Acerra and Tom Turley. The landlord was represented by the firm’s Jim Lindvall and Dan Sanchez, along with David Saeta and David Smith of IDS Real Estate.
NEW YORK CITY — Prodigy Network has signed option agreements to acquire two buildings in the NOMAD section of Manhattan for a total of $95.4 million. The company will acquire a 12-story, 45,000-square-foot loft building located at 114-116 East 25th St. for $48 million, and a 12-story loft building located at 331 Park Ave. S. for $47.4 million. These acquisitions mark the fourth and fifth Manhattan project for Prodigy, a real estate crowdfunding company.
