Office

Iliff Office Park in Aurora Sells for $2.4M

by Nellie Day January 21, 2016

AURORA, COLO. — A private investor has purchased Iliff Office Park, an 89,384-square-foot office campus in Aurora, for $2.4 million. The park is located at 2323 South Troy St., about 10 miles southwest of downtown Denver. The Class B property contains six buildings connected through a second-story, concourse-style floor. It also contains a common-area courtyard, as well as a newly completed tenant monument sign. Clayton Primm of Marcus & Millichap represented the buyer. Brian C. Smith of the same firm represented the seller, another private investor, in this transaction.

January 21, 2016

Healthcare Northeast Office Pennsylvania

Sands Investment Group Negotiates Sales of Two Medical Office Properties in Pennsylvania

by Amy Works January 20, 2016

BETHLEHEM AND WHITEHALL, PA. — Sands Investment Group has brokered the sales of two medical office buildings in Pennsylvania. An East Coast institutional investment firm has acquired a 22,742-square-foot medical office building located at 2014 County Line Road in Bethlehem for $4.4 million and a 10,170-square-foot medical office building at 1320 Mickley Road in Whitehall for $3.1 million. The Bethlehem property is occupied by Fresenius, RMS, a DaVita subsidiary, and Valley Kidney Specialists; and the Whitehall property is occupied by Fresenius Medical Care. Bryant Hoover of Sands Investment Group’s Santa Monica, Calif., office represented the seller, a doctor/owner, in both transactions.

January 20, 2016

Georgia Office Southeast

Hillwood Opens Office in Atlanta

by John Nelson January 20, 2016

ATLANTA — Hillwood, a Dallas-based Perot company and real estate developer and investor, has opened a new office in Atlanta. The company has hired Todd Parker as senior vice president and market leader to oversee the firm’s industrial business in the Southeast region. Parker, who will be based in Atlanta, brings more than 14 years of experience in the office and industrial real estate sectors. Before joining Hillwood, Parker served as vice president and regional director at The Rockefeller Group. “We are excited to welcome Todd Parker to the Hillwood team. His experience will enable us to develop, acquire and joint venture significantly more properties in the region,” said Tal Hicks, president of Hillwood Investment Properties. “We see significant opportunities for growth in the Southeast region. Todd will be a great asset as we continue to increase our presence in this market.”

January 20, 2016

Industrial Midwest Office Ohio

Cooper Commercial Arranges $3.6M Sale of Flex Property in Cleveland Suburb

by Christina Cannon January 20, 2016

STRONGSVILLE, OHIO — The Cooper Commercial Investment Group has arranged the sale of a 41,184-square-foot office and warehouse building for $3.6 million. A private investor from Ohio sold the property located in the Strongsville Business & Technology Park along Foltz Parkway in Strongsville, approximately 20 miles southwest of Cleveland. The building can accommodate four tenants and is 98 percent occupied. Tyco SimplexGrinnell, a provider of emergency communication systems and services, is the most recent tenant to sign a lease at the property. The building sold for 92 percent of the list price and featured an 8.67 percent cap rate. Dan Cooper of Cooper Commercial Investment Group represented the seller in the transaction.

January 20, 2016

California Office Western

Bolour Associates Buys Creative Office Building in El Segundo for $49M

by Nellie Day January 20, 2016

LOS ANGELES — Bolour Associates has purchased a 113,606-square-foot creative office building in the Los Angeles submarket of El Segundo for $49 million. The property is located at 2101 El Segundo Blvd. The space underwent a comprehensive redesign that commenced in 2013. The seller, a joint venture between Bixby Land Company and Cornerstone Real Estate Advisers, invested about $25 million in acquisition, development and leasing costs to reposition the building. The space is now fully occupied to notable tenants like Sanrio, Exponential Interactive, Cove Street Capital, AMA Consulting Engineers, Specialty’s Café & Bakery and Peet’s Coffee. Bolour was represented by Bob Safai of Madison Partners. Bixby represented itself in the transaction, while CBRE’s (at the time of sale) Kevin Shannon and Ken White represented Cornerstone.

January 20, 2016

Office Texas

New College of Business Building Opens at University of Dallas

by Haisten Willis January 19, 2016

DALLAS — SB Hall, the new home of the Satish & Yasmin Gupta College of Business at The University of Dallas, is now open. The Beck Group built the 46,000-square-foot building, while Perkins+Will designed it. SB Hall is situated on the top of a hill on the northwest side of campus with views of Downtown Dallas and Las Colinas. The building includes nine lecture rooms, a production studio, financial markets lab and dozens of study nooks, alcoves, lounges and gathering places. A main floor atrium, which opens to the second level, includes a glass curtain wall system. The space is designed to allow reconfiguration as the campus population as its needs change. The facility is pursuing LEED certification.

January 19, 2016

Office Texas

SkyWalker Sells 75,679 SF Westpark Centre in Metro Dallas

by Haisten Willis January 19, 2016

EULESS, TEXAS — In an off-market transaction, SkyWalker Property Partners has sold the 75,679-square-foot Westpark Centre in Euless to an Atlanta-based fund targeting government-leased properties. It is the fund’s first acquisition in North Texas and second in the state. The GSA occupies 52 percent — 39,506 square feet — of the three-story office building located at 150 Westpark Way. Shane Benner of Coldwell Banker Commercial Alliance sourced the buyer, RP CBP Euless, and was the sole broker for the all-cash transaction. SkyWalker purchased Westpark Centre in 2008. The 4.3-acre property is located off Airport Freeway and TX 121, near Dallas/Fort Worth International Airport. Westpark Centre has been leased and managed since 2008 by Arlington-based CBCA DFW, formerly SCM Real Estate Services.

January 19, 2016

Office Texas

Moody Rambin Arranges Sale of Office Property in Houston

by Haisten Willis January 19, 2016

HOUSTON — Jim Autenreith and Dan Nguyen of Moody Rambin represented a private seller in the sale of 3229 Navigation Blvd., a 20,898-square-foot freestanding office warehouse property in Houston. James Womack of Property Brokerage of Texas represented the purchaser, a private investor.

January 19, 2016

Waters-Ridge-Tech-I-Lewisville-1955-Lakeway-Drive

Office Texas

Younger Partners Arranges Office Lease in Metro Dallas

by Haisten Willis January 19, 2016

LEWISVILLE, TEXAS — Presidio Inc. has extended its lease of 34,656 square feet and expanded by an additional 5,601 square feet at Waters Ridge Tech I in Lewisville, located at 1955 Lakeway Drive. Stuart Smith of DTZ represented the tenant in the lease transaction. Heather Shover, Kathy Permenter and Sean Dalton at Younger Partners represented the landlord.

January 19, 2016

Office Southeast Tennessee

Colliers Brokers $2.8M Sale of Historic Office Building in Downtown Nashville

by John Nelson January 19, 2016

NASHVILLE, TENN. — Colliers International has arranged the $2.8 million sale of a historic four-story office building located at 227 2nd Ave. North in downtown Nashville. Built in 1911, the fully renovated property is located adjacent to the upcoming 21c Museum Hotel. The buyer, Tennessee-based 227 2nd Avenue North LLC, plans to repurpose the property as apartment residences with ground-floor retail space. Vickie Saito of Colliers International’s Nashville office represented the seller, local real estate investor Scott Chambers, in the transaction.

January 19, 2016

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