Office

Rothenberg-Rosenfield Acquires Flex Office Complex in Metro Atlanta for $36.6M

by John Nelson March 21, 2016

NORCROSS, GA. — Rothenberg-Rosenfield, a private real estate investment firm based in New York, has acquired Oakbrook North, a 700,000-square-foot flex office complex in Norcross, a northeast suburb of Atlanta. The buyer purchased the 11-building complex from Irvine, Calif.-based Sperry Equities for $36.6 million. The property is situated on a 50-acre parcel along Oakbrook Parkway. Rothenberg-Rosenfield plans to invest $1.5 million to upgrade the property, which was 74 percent leased at the time of sale to tenants such as American Megatrends, PulteGroup and YesVideo. Colliers International represented Sperry Equities in the transaction. Reinsurance Group of America provided acquisition financing. The buyer has hired David Nash of Nash Commercial Real Estate to lease the asset. With the addition of Oakbrook North, Rothenberg-Rosenfield is now operating over 1.2 million square feet of commercial assets in Atlanta.

March 21, 2016

New York Northeast Office

Cushman & Wakefield Negotiates $51.7M Sale of Office Building in Manhattan

by Amy Works March 18, 2016

NEW YORK CITY — Cushman & Wakefield has arranged the sale of the fee interest in 10 E. 34th St., an office property located in Manhattan. The asset was sold for $51.7 million, or $946 per square foot, in an all-cash transaction. The 10-story commercial loft building consists of full-floor units and a total rentable space of 54,680 square feet plus an additional 2,500 square feet in the basement designed for use by the ground-floor retail tenant. Bob Knakal, John Ciraulo and Jonathan Hageman of Cushman & Wakefield handled the transaction. The names of the seller and buyer were not released.

March 18, 2016

Massachusetts Northeast Office

CIM Group Acquires 114,000 SF Office Building in Boston’s South End

by Amy Works March 18, 2016

BOSTON — CIM Group has acquired an office building located at 95 Berkeley St. in Boston’s South End for an undisclosed sum. CIM made the acquisition with Boston-based Center Court Mass. Constructed in 1920, the six-story building features 114,000 square feet of office space and a below-grade parking structure. The property was last renovated in 1988.

March 18, 2016

Healthcare Office Texas

CBRE Negotiates Sale of Building in El Paso for Pima Medical Institute

by Haisten Willis March 18, 2016

EL PASO, TEXAS — Pima Medical Institute has purchased a 40,000-square-foot building in El Paso to expand its medical course offerings. The school will relocate from a smaller campus on Burnham Road to the former Saddleblanket Co. building at 6926 Gateway Blvd. East in fall 2016 once renovations are complete. Upon closure of Anamarc College in June 2014, Pima Medical stepped in and began teaching the former college’s 76 occupational therapy assistant students. In addition to the current program offerings of occupational therapy assistant, medical assistant and medical administrative assistant, more programs will be added to the new location, including certificate programs in dental assistant, pharmacy technician, veterinary assistant, central sterile processing and phlebotomy technician. Rebecca Rojas of CBRE’s El Paso office, along with Nancy McClure of CBRE’s Tucson office, represented Pima Medical Institute in the site search and sale negotiations.

March 18, 2016

Office Texas

KBS Realty Advisors Signs 13,590 SF in Leases at Parkway Office Center in Dallas

by Haisten Willis March 18, 2016

DALLAS — KBS Realty Advisors has signed two renewal leases totaling 13,590 square feet at Parkway Office Center in Dallas. IOA Nine Hundred Executive Suites signed a 9,376-square-foot lease, and Great Southern Video signed a 4,214-square-foot lease. Renovated in 2012, Parkway Office Center is a Class A, two-building office park offering 224,289 rentable square feet. Located off the Dallas North Tollway between Spring Valley Road and Quorum Drive, tenants can access restaurants, retail shops, public transportation and Dallas’s central business district. Amenities at the property include a deli, conference center, parking garage, tenant lounge, security and on-site management. Michael Griffin of Transwestern represented IOA Nine Hundred Executive Suites, and Bob Acuff of Colliers represented Great Southern Video in their respective deals. Trey Smith and Lauren Napper of Cushman & Wakefield represented KBS Realty Advisors.

March 18, 2016

California Office Western

Tri Counties Bank Buys New HQ in Roseville for $7.9M

by Nellie Day March 18, 2016

ROSEVILLE, CALIF. — Tri Counties Bank has acquired a 40,000-square-foot office building in Roseville for $7.9 million. The building is located at 3700 Douglas Blvd. within the Slate Creek Corporate Center. It will serve as Tri Counties’ new regional headquarters. Robb Osborne, Cole Sweatt and Brandon Sessions of TRI Commercial/CORFAC International represented the buyer. The seller was Ellis Partners LLC.

March 18, 2016

Midwest Office Wisconsin

Siegel-Gallagher Negotiates 3,728 SF Office Lease in Milwaukee Suburb

by Christina Cannon March 18, 2016

WAUWATOSA, WIS. — Siegel-Gallagher has arranged a 3,728-square-foot office lease at The Forum in Wauwatosa, approximately seven miles west of Milwaukee. Larson Engineering Inc. will occupy the space at 3333 N. Mayfair Road. Mayfair Forum LLC is the landlord. John Dulmes and Dan Walsh of Siegel-Gallagher brokered the transaction.

March 18, 2016

Mixed-Use New York Northeast Office Retail

Howard Hughes Corp. Completes $390M Sale of Lower Manhattan Development Site

by Amy Works March 17, 2016

NEW YORK CITY — The Howard Hughes Corp. has completed the sale of a development site located at 80 South St. in Lower Manhattan. China Oceanwide Holdings acquired the 42,694-square-foot lot for $390 million. Adjacent to the revitalized Seaport District, the site is capable of supporting 817,784 square feet of fully entitled development rights. The newly repositioned Seaport District will encompass seven buildings on several city blocks totaling more than 365,000 square feet of dining, shopping, entertainment and cultural event space.

March 17, 2016

New York Northeast Office

Eastern Consolidated Negotiates $13M Sale of Vacant Building in Manhattan

by Amy Works March 17, 2016

NEW YORK CITY — Eastern Consolidated has arranged the sale of a vacant building located at 216 Bowery in Manhattan. The 25-foot wide, 4,900-square-foot property sold for $13 million, or $2,653 per square foot. The property is located within the Little Italy Special District and is a short walk to multiple subway lines, including the J and Z at Bowery and Delancey Street, the 6 at Spring and Lafayette streets, the F at Second Avenue and East Houston, and the N and R at Broadway and Prince Street. Adelaide Polsinelli of Eastern Consolidated represented the buyer, an owner-user, and the seller, an out-of-state owner-user, in the transaction.

March 17, 2016

Mixed-Use Multifamily New York Northeast Office Retail

Cushman & Wakefield Brokers $11M Sale of Two Buildings in Brooklyn

by Amy Works March 17, 2016

NEW YORK CITY — Cushman & Wakefield has arranged the sale of two buildings, located at 706-764 Manhattan Ave. in Brooklyn’s Greenpoint neighborhood. Agmine Corp. acquired the assets, which are located on the same tax lot, for $11 million, or $709 per square foot. 764 Manhattan Avenue is a mixed-use building offering four retail units and nine residential units, and 760 Manhattan Avenue features two stories of commercial space, with RadioShack occupying the ground-floor unit. Combined, the properties offer 15,500 square feet of commercial and residential space. Brendan Maddigan of Cushman & Wakefield represented the seller, the Hazelwood family, in the transaction.

March 17, 2016

Newer Posts

Older Posts