BUFFALO GROVE, ILL. — Transwestern has brokered the $2.7 million sale of a flex building in Buffalo Grove, a northwest Chicago suburb. A private investor bought the fully leased 24,620-square-foot building from FSGB LLC. The recently renovated building, located at 350-370 Lexington Drive, houses eight companies that occupy between 2,000 and 6,000 square feet. All tenants have at least two years remaining on their leases. Adam Schneiderman represented the undisclosed buyer in the transaction. Schwab Realty & Development represented the seller.
CHICAGO — Summit Design + Build LLC has completed an office space build out for The Nerdery, a custom software design and development company. The Nerdery renovated two floors of its seven-story building. The 84,000-square-foot facility is located at 1033 W. Van Buren St. in Chicago’s West Loop. The 24,000-square-foot build out included the addition of natural light, an open concept kitchen and a dining room with built-in bleachers for events. The space also features meeting space that includes over 25 conference rooms, huddle rooms and other informal areas.
SOUTHFIELD, MICH. — Friedman Integrated Real Estate Solutions has brokered the sale of a 10,285-square-foot office building in Southfield, approximately 15 miles northwest of Detroit, for an undisclosed price. Camar Properties LLC sold the building, located at 23265 Northwestern Highway, to Alley Cat Holdings LLC, a law firm. Kevin George and Dan Verderbar of Friedman Integrated Real Estate Solutions represented both the buyer and seller in the transaction.
DRIPPING SPRINGS, TEXAS — Equitable Commercial Realty (ECR) has arranged the sale of Spring Bluff Center, a 18,732-square-foot office and retail property located at 400 Highway 290 in the Austin suburb of Dripping Springs. Rebecca Zigterman and Matt Levin of ECR represented the undisclosed seller, and Craig and Kristen Van Engelen of Realty Austin represented the buyer, Caissa Properties, in the transaction.
WEST CONSHOHOCKEN, PA. — PCCP has provided a $43.4 million senior loan to Arden Group for the refinancing of an office building located at 100 and 200 Four Falls Corporate Center in West Conshohocken, a suburb of Philadelphia. Arden Group acquired the 253,985-square-foot asset in late 2013 and has since invested $2.5 million in renovations, including upgrades to the lobby, corridors and terraces, as well as a new conference center and other projects. The office building features two distinct six-story wings linked by a recently renovated six-story atrium lobby. Additionally, the building features 22,000-square-foot floor plates, a third-party managed conference facility, a full-service café, a substantial lobby and a multi-level subterranean parking garage. The building is currently 69 percent occupied by 27 tenants.
CHARLOTTE, N.C. — The Dilweg Cos. has sold One and Two SouthPark Center in Charlotte’s SouthPark office submarket for $46.5 million. The buyer is CCP Commercial Real Estate, a private real estate investment firm based in Virginia Beach, Va. Dilweg purchased the properties in 2013 for $33.5 million. Built in 1973 and renovated in 2008, One SouthPark Center is located at 6060 Piedmont Row Drive S. The 10-story, 147,000-square-foot office building was 96 percent leased at the time of sale. Built in 1980 and renovated in 1992 and 2009, the five-story, 95,000-square-foot Two SouthPark Center was 95 percent leased at the time of sale.
HOUSTON — Marcus & Millichap has arranged the sale of Houston Medical Center Land, a 66,090-square-foot tract of land located in Houston. Gus Lagos and Evan Altemus of Marcus & Millichap’s Houston office marketed the property on behalf of the seller, an individual/personal trust. Houston Medical Center Land is located on Holly Hall Street.
HOUSTON — Taeken Ltd., a family limited partnership, has purchased 47 acres at 0 S. Main St. between Hiram Clarke Road and South Post Oak Road from S Main Ltd. The site will be the new campus for Saint Nicholas School and related developments to be announced. Linda Jones of Wilson-Jones Properties represented the seller. Mark Kidd Sr. and Mark Kidd Jr. of M Kidd Properties represented the buyer. Margot Heard founded Saint Nicholas School, currently operating at 1920 N. Braeswood Blvd. Classes at the new campus will begin in Fall 2018.
SANTA CLARA, CALIF. — Telenav has relocated its office space from Sunnyvale to Santa Clara. The wireless, location-based services company has sublet 54,635 square feet from Avaya. It signed a five-year lease that will commence April 1. The new space is located at 4655 Great America Parkway. It is situated within a 318,000-square-foot, Class A office building that sits adjacent to the new Levi’s Stadium. Doug Sugimoto and Scott Dever of Cushman & Wakefield represented Avaya, a global provider of business collaboration and communications solutions.
COLORADO SPRINGS, COLO. — Computer Science Corp. has signed a five-year lease for 4,948 square feet of space at Platte Airpark Center in Colorado Springs. The 137,900-square-foot, Class A office complex is located at 320-480 N. Wooten Road. The center is now 95 percent leased. CBRE’s Brad Bird, Martin Johnson and Jared May serve as the center’s leasing agents. The landlord is Fairbridge Properties.