DALLAS — Equity Office has closed a new lease transaction with Sabre for 196,048 square feet in Solana Business Park in Dallas. Cushman & Wakefield’s Chris Taylor, Rodney Helm and Layne Mayfield represented Solana on the Sabre leasing transaction. Ryan Matthews and Cannon Camp of JLL represented Sabre, which inked a new deal to lease all of Building 2 at the Terrace at Solana, as well as the first three floors of Building 3. Solana Business Park is undergoing a $65 million campus renovation that modernizes the property’s original architectural design. The majority of the renovations are finished with final completion scheduled for mid-2016. Solana Business Park is a five-minute drive from Dallas/Fort Worth International Airport.
FORT WORTH, TEXAS — Texas Bank Financial has acquired a 47,830-square-foot, multi-tenant office building in southwest Fort Worth as the new headquarters location for its mortgage company. Executive Place, a two-story building located at 4521 S. Hulen St. near I-20, was 100 percent leased at the time of sale. The new owner’s first order of business will be to undertake a series of upgrades aimed at heightening curb appeal, including accentuating the exterior. In the fourth quarter of 2016, Texas Bank Mortgage Co. will move its 45-employee headquarters team into 18,000 square feet on the second floor from leased office space about two miles to the south. Gary Walker of Arlington-based Coldwell Banker Commercial Alliance DFW represented the buyer.
DEVON, PA. — Newmark Grubb Knight Frank (NGKF) has arranged the sale of a commercial property located at 91 Lancaster Ave. in Devon. Devon Land Holdings LLC sold the 25,000-square-foot building to Provco Devon II LLC for $4.1 million. Situated on 1.4 acres, the property was 62 percent occupied at the time of sale by Raymond James & Associates and Long & Foster Real Estate, whose leases were negotiated as part of the sale/leaseback. The building is zoned commercial, which allows for retail, office or medical uses. Neil Shupak, Justin Bell and Mike Maloney of NGKF represented the seller, while Rob Shirley of Della Porta Real Estate represented the buyer in the transaction.
TROY, MICH. — Friedman Integrated Real Estate Solutions has arranged a 6,994-square-foot office lease in Troy, a northern suburb of Detroit. Guardian Mortgage Co., a mortgage lending company focused on residential home loans, will occupy the space located at 900 Wilshire Drive. West Huron Joint Venture owns the property, Wilshire Plaza North. Steve Eisenshtadt and Keith Grebinski of Friedman represented the landlord in this transaction.
PASADENA, CALIF. — Meridian has purchased a 115,000-square-foot medical office complex in Pasadena for $37.5 million. The complex is located at 50 Bellefontaine St. near Huntington Memorial Hospital. The 2.8-acre property contains a 52,000-square-foot building, a 63,000-square-foot building and an adjacent subterranean parking garage. Meridian plans to invest an additional $5 million to modernize and upgrade the space. John Erickson and Brent Weirick of Colliers represented Meridian in the deal. Fred Cordova, Ryan Eddy and Michael Puleo of Kennedy Wilson Brokerage Group, along with William Boyd, Linda Lee and Scott Unger of Charles Dunn, represented the seller, Cotton Medical Center.
TAMPA, FLA. — JLL has completed a 66,000-square-foot office lease at Meridian Premier Center, a 103,521-square-foot, Class A office center in Tampa’s affluent Carollwood neighborhood. The tenant is Comprehensive Health Management Inc., a provider of administrative services for health maintenance organizations. Jim Moler and Deana Beer of JLL represented the landlord, Meridian Development Group, in the lease deal. David Johnson, Liz Osborne and Jimmy Garvey of Cushman & Wakefield represented the tenant. Built in 1997 and renovated in 2014, Meridian Premier Center was 96 percent leased following Comprehensive Health Management’s lease.
HOUSTON — CBRE has completed an office lease renewal for InterMoor, a supplier of mooring technology, innovative solutions and equipment for permanent and temporary mooring systems. InterMoor occupies 20,923 square feet at Ashford 7, located at 900 Threadneedle St. in Houston. Kevin Saxe and Connor Tamlyn of CBRE represented InterMoor in lease negotiations with landlord, Accesso Partners, which was represented by Bob Cromwell with Moody Ramblin.
GRAND RAPIDS, MICH. — NAI Wisinski of West Michigan has arranged the lease of a 2,675-square-foot office building in Grand Rapids. Simple Truth Chiropractic is relocating to the building at 2757 Leonard St. NW from its current location at 831 Fuller Ave. The space is currently undergoing renovations, which are expected to be complete by the end of the first quarter. Mary Anne Wisinski-Rosely, Jason Makowski and Cameron Timmer of NAI represented the landlord, Leonard Street Properties LLC, in the transaction. Olga Halstead of Results by Olga represented Simple Truth Chiropractic.
SAN MATEO, CALIF. — A joint venture between Seagate Properties and RGA Real Estate Investments has purchased The Atrium, a 163,791-square-foot office building in Silicon Valley, for $61.6 million. The Class A property is located at the intersection of Highway 101 and 92. It is situated 20 miles south of Downtown San Francisco and 15 miles north of Stanford University. The Atrium is currently 90 percent occupied. The largest tenant at the site is Prometheus Real Estate Group. The building was constructed in 1983. It recently underwent a $300,000 renovation. Steven Hinds and Peter Ryan of George Elkins Mortgage Bank helped facilitate the joint venture between Seagate and RGA. Steve Herman, Eric Fox and Bob Gilley of Cushman & Wakefield represented the seller, Prometheus, in this transaction.
PHOENIX — Cushman & Wakefield has arranged the sale of the former Giant Industries corporate headquarters office building in Phoenix for $8.5 million. United Insurance Co. of America sold the asset to Generations at Pinnacle Peak LLC, a Michigan-based investor that plans to convert the office property into an assisted living community. The two-story building was constructed in 1989 and contains approximately 66,283 square feet of space. The structure is situated on four acres of land. Larry Downey, vice chairman for Cushman & Wakefield, represented the seller in the transaction.