DALLAS — Paradigm Tax Group has relocated its headquarters to Dallas and added a new CEO. Paradigm provides property tax consulting services for commercial property owners and has more than 30 regional offices across the U.S. Paradigm will retain its presence in its former headquarters in the Phoenix area. Steve Stubitz will remain chairman of the company but step down from his interim CEO role to welcome Mark Wanic as CEO. Stubitz held the position following the retirement of Paradigm’s prior CEO Bob Dunlap. Wanic comes to Paradigm after holding a variety of executive positions at Cushman & Wakefield. Wanic is the latest addition to a new management team, which includes new CFO Francoise Mattice, who joined Paradigm in March. Paradigm helps clients identify potential tax-saving opportunities.
PLANO, TEXAS — Boxer Property has concluded long-term lease negotiations on a 17,000-square-foot lease with GuideIT, a Perot company. GuideIT has been a tenant of Boxer in the Plano Tower building since early 2013. Plano Tower is located at 101 E. Park Blvd. and is owned and managed by Boxer Property. Mark Dowdle, of Boxer Property’s Dallas office, negotiated the agreement on behalf of Boxer, and Louis Pascuzzi of Jackson Cooksey represented GuideIT. Plano Tower includes 13 stories with a total of 225,445 square feet of office space for rent. The Class A building features a mirrored glass exterior, surface and covered parking, an upgraded lobby, granite floors, elevator service, on-site banking services and drop boxes.
BRYN MAWR, PA. — Duke Realty plans to develop a 100,300-square-foot medical office building (MOB) for Main Line Health at its Bryn Mawr Hospital campus. Located at 130 Bryn Mawr Ave. in Bryn Mawr, the four-story building is estimated to cost $35 million. The property will house a 24,000-square-foot ambulatory surgery center, 13,000 square feet of primary care services and 10,000 square feet of auxiliary space to meet Main Line’s future needs. Development will begin in February 2016, and completion is slated for February 2017. The building will be owned by Duke Realty Bryn Mawr Development LLC. The Philadelphia office of Francis Cauffman is serving as architect and Health Sciences Construction Group is serving as general contractor for the project.
HOUSTON — Bracewell & Giuliani LLP has signed a 189,061-square-foot, long-term lease renewal at Pennzoil Place, located at 711 Louisiana St. in Houston. David Lee, Doug Little and Ben Quinton of Transwestern’s Houston headquarters negotiated the deal on behalf of the building owner, Metropolis Investment Holdings Inc. Bracewell & Giuliani is an international law firm with 450 lawyers in Texas, New York, Washington, D.C., Connecticut, Seattle, Dubai and London, serving Fortune 500 companies, major financial institutions, leading private investment funds, governmental entities and individuals concentrated in the energy, technology and financial services sectors worldwide. Tim Relyea and Brooke Wommack of Cushman & Wakefield represented the tenant.
ALPHARETTA, GA. — Lincoln Property Co. Southeast has brokered office leases totaling more than 100,000 square feet in Alpharetta, a northern suburb of Atlanta. Michael Howell and Hunter Henritze of Lincoln represented the landlords in the transactions, which included SunTrust Mortgage’s 6,992-square-foot lease renewal at One Northwinds Center at 2475 Northwinds Parkway; Wells Fargo Advisors’ 17,046-square-foot lease renewal at Two Northwinds Center at 2520 Northwinds Parkway; CenturyLink Communications’ 20,197-square-foot lease renewal at Brookside One at 3625 Brookside Parkway; Guilford Insurance’s new 12,180-square-foot lease at Preston Ridge IV at 3440 Preston Ridge Road; Biota Pharmaceuticals’ 11,788-square-foot lease expansion at Three Northwinds Center at 2500 Northwinds Parkway; Thyssen Krupp’s 19,745-square-foot lease expansion and renewal at 400 Northwinds Parkway; Auto Vin’s new 8,656-square-foot lease at 800 N. Point Parkway; Veeam Software’s 6,959-square-foot lease expansion at 2520 Northwinds Parkway; McManamy McLeod Heller’s new 4,590-square-foot lease at 11525 Haynes Bridge Road; Windward Specialty Group’s new 3,126-square-foot lease at 2500 Northwinds Parkway; and Select Selling’s new 4,307-square-foot lease at 2520 Northwinds Parkway. Kirk Diamond and Dale Lewis of DTZ represented Wells Fargo, Dave Kilborn of Newmark Grubb Knight Frank represented CenturyLink, Allison Bittell of Cushman & Wakefield represented Guilford Insurance, Steve Farrar of Newburger Andes represented …
LOS ANGELES — A private investor has purchased an 8,568-square-foot medical office building in the Los Angeles submarket of Culver City for $6.5 million. The building is located at 10801 Venice Blvd. It was built in 1979. Lloyd Bakan and Gary Berwick of Avison Young represented the seller, also a local private investor.
ARCADIA, CALIF. — Regus Corp. has signed an 11-year lease at Arcadia Gateway Centre. The center is located at 440 E. Huntington Drive. The company will occupy the entire third floor, totaling 16,400 square feet. Other notable tenants at the center include Oracle Corp. and Arroyo Insurance. Carl Anderson represented the landlord, Arcadia Gateway Centre Delaware Partners LLC.
ADDISON, LAS COLINAS AND RICHARDSON, TEXAS — CREA Investments, a privately held real estate investment services firm, has acquired three office buildings in the Dallas area. The properties include The Belvedere,in Addison, The Meridian in Las Colinas and 2929 NCX in Richardson. Cushman & Wakefield will handle leasing and management services for all three properties. The Belvedere, which features 141,180 square feet of Class A office space, will undergo renovations to corridors, restrooms and the building lobby. The asset also offers 100 percent structured parking. The Meridian, which features 100,359 square feet of office space, will undergo renovations to all corridors, restrooms and a tenant lounge, as well as building systems. Capital improvements also include the addition of spec suites on two floors. 2929 NCX features 85,089 square feet of office space. Since the acquisition, renovations to the lobby, corridors, and restrooms have been completed. Spec suites ranging from 1,500 square feet to 2,000 square feet are also under construction. In addition, the building has been repainted.
MEDFORD AND BURLINGTON, MASS. — The Davis Companies has selected Margulies Perruzzi Architects to revitalize and reposition two office building properties. The architectural and interior design firm will upgrade the main entrance, lobby and common areas of One Cabot Road in Medford and One Burlington Business Center in Burlington. Constructed in 1989, One Cabot Road is a 400,000-square-foot office building featuring a full-service cafeteria, fitness facility, abundant power and emergency systems and a generous parking ratio, including 170 executive spaces inside the building. The property is currently 94 percent leased, with approximately 30,000 square feet available and 130,000 square feet becoming available in 2017. One Burlington Business Center is a four-story, 176,000-square-foot office building located adjacent to the Lahey Hospital and Medical Center. The building is occupied by Lahey Hospital and Medical Center and Silverink Communications, among others.
WESTPORT, CONN. — Coastal Construction Group LLC has acquired a mixed-use property located at 785 Post Road East in Westport. Situated on 2.5 acres, the 5,000-square-foot property sold for $1.2 million. The buyer plans to use the building for additional office space. Jon Angel of Angel Commercial represented the seller, George Essenfeld Trustee and Lewis Meriwether, in the transaction.