LATHRUP VILLAGE, MICH. — Friedman Integrated Real Estate Solutions has arranged the sale of an office building located at 26221 Southfield Road in Lathrup Village. Williamsburg LLC sold the property, which is located within Williamsburg Plaza South, to Dr. Quadir Jaleel of OMJ Building LLC for an undisclosed price. Dan Verderbar of Friedman represented both the seller and buyer in the transaction.
NEW YORK CITY — Hines, along with Pacolet Milliken Enterprises and institutional investors advised by J.P. Morgan Asset Management, have sold 7 Bryant Park in New York City to an institutional investor for an undisclosed price. Located between West 39th and 40th streets, the 30-story, 470,000-square-foot property was designed by Henry N. Cobb and Yvonne Szeto of Pei Cobb Freed & Partners. Currently, floors 15 through 27 and a first-floor retail space are available for lease. Hines has assumed on-site management responsibilities and CBRE has been selected as the exclusive leasing agent for the property. Phillips Lytle and Proskauer advised on the transaction.
CROMWELL, CONN. — O,R&L Commercial has brokered the sale of a flex building located at 800 Corporate Row in Cromwell. Buhl Land East IV LLC sold the 12,750-square-foot property for $1.05 million to Matthew Esler. The property features four drive-in doors and two loading docks. Renewal by Andersen will occupy the facility for its marketing and sales office, as well as a distribution hub for doors and windows. Frank Hird of O,R&L Commercial represented the seller, while Bob Gaucher, also of O,R&L, represented the buyer in the transaction.
GRAPEVINE, TEXAS — Kubota Tractor Corp. (KTC) and Kubota Credit Corp. (KCC) will relocate its headquarters to Grapevine. Both companies are U.S. subsidiaries of Kubota Corp., based in Osaka, Japan, and have been planning for increased efficiency on the heels of recent expansions and an aggressive growth strategy. The move will affect about 180 employees and is expected to happen within the next 18 months. The move of Kubota’s entire Torrance, Calif. corporate headquarters to Texas is designed to put Kubota’s leadership and professional staff closer to Kubota’s major markets and its manufacturing, assembly and distribution facilities in Georgia and Kansas. The new headquarters will be large enough to initially accommodate 400 employees with room for expansion.
COLLEYVILLE, TEXAS — Greenbrier Cos. is expanding its product development and quality engineering offices in Colleyville. In 2014, Greenbrier leased 5,993 square feet in 99 Main, Suite 200, in the Village at Colleyville. The company has leased an additional 4,480 square feet, which is all of Suite 300, for a total of just under 10,000 square feet. Martin Graham of Greenbrier Cos. represented the firm in the lease negotiations. Debra Perryman and LeAnn Brown of Silver Oak Commercial Real Estate represented the building owner, Austin-based CCI.
SOUTHFIELD, MICH. — Friedman Integrated Real Estate Solutions has brokered the sale of an 11,558-square-foot office building in Southfield. The property is located at 18860 W. 10 Mile Road. The seller, Beeson Commercial, sold the building to Dr. Noah Levi, Dr. Oleg Krivichkin and Dr. Randall Shaw, who are expanding their adjacent Dental Practice into a full-service Dental Clinic. Dan Verderbar and Robert Moon of Brokerage Friedman represented both the seller and the buyer in the transaction.
SAN DIEGO — Drawbridge Realty has purchased Spectrum Corporate Center Campus, a 182,870-square-foot office campus in San Diego, for $61 million. The campus is located at 9388 Lightwave Ave. in the Kearny Mesa submarket. The three-building campus is triple-net leased to Northrop Grumman Systems Corporation, a wholly owned subsidiary of Northrop Grumman Corporation. The sellers, Real Estate Capital Partners and IVG Institutional Funds, were represented by Michael Roberts and Brunson Howard of Cushman & Wakefield.
PARSIPPANY, N.J. — NAI Hanson has arranged the sale of Boulevard Common, an two-building office complex located at 1140-1160 Parsippany Blvd. in Parsippany. Micro Strategies Inc. purchased the properties for an undisclosed price and will relocate its offices from Mt. Olive, N.J. The complex offers 44,596 square feet of Class A office space, a state-of-the-art infrastructure and close proximity to Routes 287, 80 and 46. Josh Levering and Michael Walters represented the seller, HGF Parsippany Blvd LLC, in the transaction. The buyer was represented by Cushman & Wakefield.
MORRISTOWN AND MORRIS TOWNSHIP, N.J. — Cushman & Wakefield has brokered the sale of a three-property office portfolio in Morris County, N.J. East Rutherford, N.J.-based Lincoln Equities purchased the 410,000-square-foot portfolio sold for $80 million, or $195 per square foot, from Edison, N.J.-based Alfieri LLC. The portfolio includes the 106,000-square-foot Harding Plaza located at 1200 Mt. Kemble Ave. in Morristown; the 151,400-square-foot 100 Southgate Parkway in Morris Township; and the 151,000-square-foot Patriot’s Plaza at 60 Columbia Turnpike in Morristown. Andrew Merin, David Bernhaut, Gary Gabriel, Brian Whitmer and Kyle Schmidt of Cushman & Wakefield represented the seller, while the buyer had in-house representation during the transaction.
LISLE, ILL. — NAI Hiffman has represented Metrasens in its office expansion with Pritchett Realty Corp. at 2150 Western Court in Lisle. Metrasens, a technology business that specializes in metal detection products for the healthcare and security markets, expanded its lease by 3,249 square feet and now occupies a total of 6,850 square feet in the 51,244-square-foot office building. The expansion will accommodate its need for additional administrative offices, service and testing lab space. Matt Novak of NAI represented Metrasens in the transaction. Jeff Mann of CBRE represented Pritchett Realty Corp.