PHOENIX – Orsett Acquisitions LLC has purchased the Siete II building, a 54,072-square-foot office building in Phoenix, for $3.2 million. The Class B building is located at 3707 North 7th Street. It was built in 1988. Phil Breidenbach, Peter Nieman, Kathy Foster and Lindsey Carlson of Colliers Office Solutions Group represented both the buyer and seller, UFB Development Corporation, in this transaction.
LOS ANGELES – UrbanBlox has acquired a 51,055-square-foot office building in Downtown Los Angeles’ Jewelry District for $8.5 million. The building is located at 718 S. Hill Street. The firm plans to redevelop the building into creative office space with ground-floor retail. This is UrbanBlox’s 12th acquisition in the past 15 months. The firm has been purchasing creative, mixed-use and multifamily properties in the LA River, Downtown Los Angeles, Hollywood and Silver Lake areas. UrbanBlox was represented by JLL’s Mike Condon Jr. The seller was BRC Advisors.
SAN DIEGO – United Trust Fund (UTF) has acquired and leased back a 27,340-square-foot office building in San Diego. The office building is fully leased to a large construction company that holds a 15-year net lease at the property. UTF also owns the company’s regional headquarters in Arizona, Chicago and Massachusetts. The property’s address and price were not disclosed.
EAU CLAIRE, WIS. — Commonweal Development Corp. has completed construction on a 72,500-square-foot office building for JAMF Software in Eau Claire. The new, Class A property is located in the Phoenix Park area of downtown Eau Claire. Ayres Associates was the architect for the project. Market & Johnson served as the general contractor. The high tech facility is a combination of open office and meeting rooms featuring a fourth floor deck with a view of the Chippewa and Eau Claire rivers. JAMF software specializes in products and support for the Apple platform. The city of Eau Claire is building a parking structure adjacent to the building to serve JAMF and the neighboring Royal Credit Union headquarters.
RALEIGH, N.C. — Hartwell Realty Inc., a Raleigh-based boutique commercial real estate firm, has brokered the sale of a 42,010-square-foot Class A office building located at 4001 Weston Parkway in Raleigh. The office building is the headquarters of Kruger USA, the U.S. headquarters for Veolia, a municipal solutions and technologies firm for wastewater management and drinking water treatment. Kruger recently took full occupancy of the building. Brenda Compton, Jason Stegall and Matt Raiford of Hartwell Realty put together the off-market transaction.
RESTON, VA. — Akridge and RTC Partnership LLC have formed a joint venture to develop 1760 Reston Parkway, a $210 million, Class A office tower in the Reston Town Center mixed-use development outside Washington. The approximately 420,000-square-foot, 22-story building will reach 330 feet, nearly 115 feet taller than the next tallest building in Reston Town Center. As a result, 1760 Reston Parkway will offer tenants panoramic views from the Blue Ridge Mountains to downtown Washington. 1760 Reston Parkway will be located six miles east of the Washington Dulles International Airport and approximately 20 miles west of Washington. The site is currently home to a five-story, 61,000-square-foot office building that will need to be demolished prior to construction, according to the Washington Business Journal. The newspaper says that Akridge has not ruled out building on spec, but plans to prelease an anchor tenant for at least 150,000 square feet before proceeding with construction. RTC Partnership LLC acquired the property in 2005 and guided 1760 Reston Parkway through the entitlement process. Whealen retained Mike Shuler of Avison Young to structure a joint venture with a top office developer, leading to the joint venture with Akridge, a full-service commercial real estate company that …
JACKSONVILLE, FLA. — Colliers International Northeast Florida has arranged a 236,250-square-foot office lease at EverBank Center, a 30-story, 956-201-square-foot office tower in downtown Jacksonville. Chuck Diebel, Preston Phillips and Lisa McLatchey of Colliers International Northeast Florida represented the landlord, Amkin West Bay LLC, in the lease transaction. Cushman & Wakefield represented the tenant, Citizens Property Insurance Corp. The new lease brings the office tower’s occupancy to more than 90 percent.
MIAMI — Avison Young has arranged a new 21,492-square-foot lease for the relocation of Eastern National Bank’s corporate headquarters relocation. The company is moving its footprint from Miami’s Brickell district to Dadeland @ 9700, an 11-story, 67,142-square-foot office building at 9700 S. Dixie Highway. The move brings the office building to 100 percent occupancy. Donna Abood, Joe Abood and Ericka Witkowski of Avison Young represented the landlord, Dadeland Executive Plaza LLC, in the transaction.
HOUSTON — London Offshore Consultants has leased 8,054 square feet at the Imperial 20 building, which is located at 16800 Imperial Valley Drive in the Greenspoint submarket of Houston. Kurt Kistler of Moody Rambin represented the owner, 16800 Imperial LLC. Chad Beck of Cushman & Wakefield represented the tenant in the transaction.
CHICAGO — Foresite Realty Partners LLC has arranged the lease of a 7,196-square-foot office space in Chicago. Alliance of Chicago Community Health Service, L3C has signed a 10-year, seven-month lease renewal at the space located at 215 West Ohio. The Alliance provides health information technology to support more than 40 non-profit health centers nationally. Foresite Reality Partners represented the landlord. Trevor Marticke of Cushman & Wakefield represented the tenant.
