NORTH HAVEN, CONN. — Press/Cuozzo Commercial Services has arranged the sale of a professional/medical building located at 100 Broadway in North Haven. 100 Broadway North Haven LLC purchased the 11,000-square-foot property for $1 million from Bass Inc. Stephen Press of Press/Cuozzo represented the buyer, while Susan Criscuolo, also of Press/Cuozzo, represented the seller in the transaction.
DALLAS — CBRE Capital Markets’ Investment Properties has arranged the sale of NBCUniversal Regional Headquarters, a 75,000-square-foot, single-story Class A office asset in Dallas. The LEED-certified building was completed in 2013. The property is fully leased to NBCUniversal Media LLC, a wholly owned subsidiary of Comcast Corp., and serves as the regional headquarters, broadcasting and multimedia news facility for NBC/KXAS-TV, Telemundo and NBCUniversal. Olympus Ventures purchased the asset from KDC for an undisclosed price. Eric Mackey, Gary Carr, John Alvarado, Robert Hill and Pete Van Amburgh of CBRE represented the seller.
AUSTIN, TEXAS — Passco Cos. has opened a new office in Austin. Shelli Cusack will oversee the company’s Austin office, and will also be responsible for a portion of Passco’s multifamily portfolio encompassing more than 3,000 units in North Carolina, South Carolina and Georgia. Cusack has been responsible for the management of more than $1 billion in real estate assets during her career. Passco Cos.’ new Austin office is located at 7000 N. Mopac Expressway, Suite 200. Passco focuses on the acquisition, development and management of multifamily and commercial properties throughout the United States.
PHOENIX — A partnership between Lincoln Property Company (LPC) and funds managed by Oaktree Capital Management has acquired Biltmore Commerce Center, a 259,000-square-foot office property in Phoenix, for $58 million. The Class A center is located at 3200 E. Camelback Road in the Camelback Corridor. The three-story property is currently 93 percent leased to tenants like HDR Engineering, Lee & Associates, United Way, Greystar, North American Title Company and Miller Russell & Associates. It is situated across the street from two retail projects that feature tenants like Central Bistro, Wells Fargo, Bank of America, Mexx 32, Tarbell’s, Tommy V’s Osteria and Pizzeria, Tomaso’s and Hava Java Café. Biltmore Commerce Center includes a newly remodeled, 11,000-square-foot, three-story atrium. It recently had its corridors and lobbies remodeled, in addition to upgraded landscaping and a new water feature. The seller, a joint venture between DPC Development Company and Bridge Investment Group, was represented by Chris Toci, Chad Littell, Jerry Noble, Pat Devine and Greg Mayer of Cushman & Wakefield. The institutional-quality office building’s property management strategy will be directed by LPC’s Alisa Timm.
HANOVER, N.J. — A joint venture between Vision Real Estate Partners and Rubenstein Partners has broken ground for the construction of a global headquarters for MetLife Investments in Hanover. Situated on 14 acres within 67 Whippany Road’s South Campus component, the 185,000-square-foot property will feature an open floor plan with collaborative workspaces and breakout rooms, a town hall with technologically advanced conference facilities, a fitness center, employee food court with indoor and outdoor seating, and a café. Additionally, the property will offer 4.5 parking spaces per 1,000 feet of rentable area. The property is also designed to achieve LEED Gold Core and Shell and LEED Platinum Interiors certifications. Bruce Mosler, Ethan Silverstein, David Susoreny, Bill Brown and Andrew Merin of Cushman & Wakefield represented MetLife in the transaction. Robert Donnelly and Robert Donnelly Jr., also of Cushman & Wakefield, represented the property ownership in the lease transaction.
GURNEE, ILL. — Marcus & Millichap has brokered the $8.6 million sale of Crown Corporate Center, a four-building, single-story office portfolio in Gurnee. The property is located at 1275-1425 Tri State Parkway. The properties were built between 1989-1998 and total 156,765 rentable square feet. The asset is 51 percent leased to six tenants. The portfolio is located immediately off of I-94 across from Gurnee Mills Shopping Outlet Mall. Stephen Lieberman of Marcus & Millichap represented the seller, New York-based Crown Properties. Bridgeview, IIl.-based Costa Construction purchased the property in a 1031 exchange.
FORT LAUDERDALE, FLA. — Stiles Realty, a division of Stiles, has brokered the $21 million sale of a vacant Class A office property located at 2100 W. Cypress Creek Road in Fort Lauderdale. The 185,000-square-foot building, which was the former headquarters of BankAtlantic, was the largest single-tenant building sold in the Cypress Creek submarket in the past five years, according to Stiles Realty. Kimberly Barbar of Stiles Realty represented the seller, BB&T, in the transaction. Barbar will also lease the office building on behalf of the new owner, Integra Investments LLC. The office building was designed to serve a single tenant and features on-site amenities such as a fitness center with showers, 250-seat cafeteria and a wellness center.
LOS ANGELES – The Government of the United States (GSA) has renewed its lease for 21,961 square feet of office space in the Los Angeles submarket of Brentwood. The GSA leases the entire fourth floor of a Class A building at 12121 Wilshire Blvd. The space is situated on the northwest corner of Wilshire Boulevard and Bundy Drive. The GSA has occupied the building for 10 years. It has now signed on for an additional 10 years. The landlord, Douglas Emmett, was represented by Mitchell Stokes and Bob Safai of Madison Partners.
LOUISVILLE, KY. — Commercial Kentucky Inc., a member of the Cushman & Wakefield Alliance, has brokered the $14.3 million sale of the historic Starks Building in downtown Louisville’s central business district. The 14-story, 395,505-square-foot office tower was originally constructed in 1913. Delray Beach, Fla.-based Hudson Holdings purchased the office tower from the Hertz Organization and plans to reposition the building into a mixed-use property featuring 100 apartments units and a 200-room upscale hotel. The property will also feature a coffee shop and full-service health club. Craig Collins and Sam English of Commercial Kentucky represented the Hertz Organization in the sale.
CHARLOTTE, N.C. — Adler Kawa Real Estate Advisors (AKREA) has purchased Shopton Ridge Business Park, a 422,400-square-foot office and industrial park in southwest Charlotte. The park was 90.8 percent leased at the time of sale to tenants such as PinPoint, Scent Air, Cardinal Health, Linde Gas and Rent-A-Center, among others. AKREA purchased the property for an undisclosed price through the Adler Kawa Real Estate Fund II. AKREA has tapped Bill Wood of Trinity Partners to lease the asset. Patrick Gildea, Anne Johnson and Bryan Crutcher of CBRE represented the seller in the transaction. Charles Foschini and Christopher Apone of CBRE’s Miami office arranged acquisition financing on behalf of AKREA.
