PLANO, TEXAS — Colliers International has arranged the lease of office space for RamQuest, a provider of title and settlement software solutions, in Plano. RamQuest is consolidating its facilities and relocating its headquarters to International Business Park at 6111 W. Plano Parkway. The company will occupy 28,205 square feet at the new location. Daniel Rudd and Billy Vahrenkamp of Colliers International represented RamQuest in the transaction. Sean Dalton of Younger Partners represented the landlord, Billingsley Co.
HOUSTON — Houston-based Boxer Property has completed property renovations at 1322 Space Park, a two-story office building spanning 123,089 square feet. The space was built in 1966 and is part of a three-building complex located in the heart of the Clear Lake submarket. The property has undergone interior and exterior renovations and the new space is also dog friendly. Amenities include a dog park, outdoor courtyards and sun-shaded seating.
RESTON, VA. — A joint venture between Coretrust Capital Partners and Normandy Real Estate Partners has purchased Reston Metro Center One and Two in Reston. The two Class A office buildings located on Dulles Toll Road span a combined 185,480 square feet. Coretrust and Normandy is jointly managing the properties and has hired Jeff Roman and John DiCamillo of CBRE to provide leasing services. Reston Metro Center One and Two are located in close proximity to Silver Line’s Reston Town Center Metro Station that will open in 2018. Coretrust-Normandy financed the acquisition through a loan restructuring of the existing mortgage notes with LNR.
LOS ANGELES – Shubin Nadal Realty Investors and DRA Advisors LLC have acquired Harman International Business Campus, an 856,515-square-foot office and industrial campus in Los Angeles, for an undisclosed sum. The 44-acre campus is situated along Balboa Boulevard in the San Fernando Valley. The property has been rebranded as “The Campus.” It will undergo a multi-million-dollar repositioning plan to convert the property into a contemporary mixed business park. The repositioning will include the demolition of some buildings and the addition of new creative office, R&D and retail space. The new campus will also include significant outdoor amenities. The transaction was executed by Marc Renard, Manfred Schaub, David Hasbrouck and Lars Platt of Cushman & Wakefield’s Capital Markets Group. The seller was not named.
LOS ANGELES – A 150,000-square-foot building in Los Angeles that formerly served as a Coca Cola production facility will soon undergo an adaptive reuse. The five-story, red-brick industrial building is located at 963 East 4th Street in Downtown Los Angeles’ Arts District. The property is being converted into a mixed-use, Class A creative office building. The redesign will utilize the building’s large, high-volume, 35,000-square-foot floor plates, in addition to its 14-foot ceilings, expansive windows and panoramic rooftop views. Current plans include 70,000 square feet of retail and restaurant space situated on the street and lower levels. A new flagship restaurant is planned for the east end of the building, which faces Traction Avenue, and for the west end, which faces the main entry and courtyard. Construction should be complete in the fourth quarter of next year. The redesign will highlight the building’s original brick façade. It will feature new, operable dual-glazed windows and a large atrium lobby. It will also include a newly constructed, 10,000-square-foot rooftop penthouse that will be surrounded by a landscaped rooftop deck with an outdoor kitchen, firepit and entry court park. The adaptive reuse is being carried out by HLW International. The building is owned by …
PLANO, TEXAS — JLL has negotiated a 78,705-square-foot sublease at Plano Tower, the former Encana Oil & Gas Inc. regional headquarters located in Legacy Town Center at 5851 Legacy Circle in Plano. Plano-based LegacyTexas Bank will occupy the top three floors of the building. Ben Sumner of Centurion Real Estate Partners represented LegacyTexas Bank. Greg Biggs, Doug Carignan, Torrey Littlejohn and Marc Feldman of JLL represented the sub landlord, Encana. American Realty Capital Properties owns the building. KDC Real Estate Development built the 12-story, 318,582-square-foot Class A property in 2012.
FORT LAUDERDALE, FLA. — HFF has brokered the $112 million sale of Broward Financial Center, a 324,429-square-foot, Class A office property in Fort Lauderdale. The property is located at 500 E. Broward Blvd. in Fort Lauderdale’s central business district. AGS Property Corp. purchased the 24-story office building clear and free of existing debt from DRA Advisors LLC. Hermen Rodriguez, Manuel De Zarraga, Ike Ojala and Jorge Portela of HFF represented DRA Advisors in the transaction. Broward Financial Center was 90 percent leased at the time of sale to tenants such as Sun-Sentinel Co., Fox Sports Net Florida Inc., Premiere Beverage Co. LLC, Northwestern Mutual, Morton’s Restaurant Group and Charles Schwab & Co. Inc. Additionally, HFF secured $61million in acquisition financing on behalf of AGS Property Corp. Chris Drew and Paul Stasaitis led HFF’s debt placement team to arrange the 10-year, fixed-rate loan through Morgan Stanley Mortgage Capital Inc.
LOS ANGELES – Vinci Academy has leased 10,127 square feet in Century City. It will occupy the entire third floor of a 46,247-square-foot office building. The four-story building is located at 1940 Century Park East in the Los Angeles submarket. The daycare center will also construct a 4,000-square-foot outdoor play area on the roof of the building’s parking garage, which is connected to the property. Construction is scheduled for completion next March. Vinci was represented by CBRE’s Matt Perlmutter. The landlord is the Gillis Family Partnership.
BASKING RIDGE, N.J. — Rubenstein Properties and partner Onyx Equities have executed a 61,676-square-foot lease with Avaya Inc. at 211 Mount Airy Road in Basking Ridge. Affiliates of Rubenstein and Onyx acquired the 305,000-square-foot property from Avaya in 2013 as a sale-leaseback deal. The property features a full cafeteria, state-of-the-art fitness facilities, 127-unit auditorium and an on-site conference center. Newmark Grubb Knight Frank represented both Avaya and Rubenstein/Onyx.
NEW YORK CITY — Colliers International and Lee & Associates have brokered a 51,223-square-foot lease at 1251 Avenue of the Americas in New York City. Bernstein Litowitz Berger & Grossman LLP inked a long-term relocation for the space in the 54-story, 2.4 million-square-foot office tower. The law firm plans to occupy the space by year-end 2015 and will occupy the entire 44th floor with additional space on the 41st floor and concourse level. Robert Koslow of Colliers International and Howard Rosen of Lee & Associates co-brokered the lease on behalf of the tenant. Peter Shimkin and David Falk of Newmark Grubb Knight Frank represented the landlord in the transaction.