TORRANCE, CALIF. – Occupational Therapy Training Program (OTTP) has signed a five-year lease renewal at Harbor Gateway Garden Office Park in Torrance. The 94,112-square-foot, nine-building office property is located at 19401 S. Vermont. The lease is valued at $1.5 million. The non-profit agency that offers comprehensive life skills training, work readiness training, job placement and support services is a division of Special Service for Groups. OTTP was represented by Chris Runyen of Charles Dunn Company. The landlord, Harbor Gateway, LLC, was represented by Dwight Everest of Sunny Hills–Palladium.
BERKELEY, CALIF. – Meridian Property Company has acquired a 15,915-square-foot medical office building in Berkeley for an undisclosed sum. The building is located at 2920 Telegraph Ave. It was built in 1971 and was vacant at the time of sale. Meridian plans to invest $2.6 million into the building. The company also plans to reduce the building’s footprint to 12,900 square feet. It will use that space to create internal, secure parking behind the ground floor, which will meet the conditional use permit requirement and allow medical use at this location. The renovation is scheduled this fall. The seller was Gambro. Dave McCarty of Lee & Associates of Oakland serves as the building’s exclusive leasing agent.
GILBERT, ARIZ. – Saint Xavier University opened a new recruiting center in Gilbert. The center is located at 119 North Gilbert Road. It will allow the university to attract future students to its new Gilbert campus, which will open this fall. The building is still under construction, though students have begun online classes through the new university outpost.
ROLLING MEADOWS, ILL. — Panasonic Corp. of North America has signed a long-term lease for 48,813 square feet at Continental Towers in Rolling Meadows. The office, which moves from 5201 Tollview Road in Rolling Meadows, will serve as the consumer electronics company’s Midwest regional headquarters. It will take the entire 11th and 12th floors of Tower 3 when the lease begins in June 2015. Continental Towers is a 911,341-square-foot, three-tower office complex. Amenities include a 30,000-square-foot, full-service fitness center, a conference/training facility and a Foodbarz deli. The buildings is situated on a 34-acre corporate campus which is visible along I-90. Mitch Loveman and Kevin Duckler of Newmark Grubb Knight Frank represented Panasonic in the transaction. GlenStar Properties’ Dave Trumpy and Bill Debb represented ownership.
HOUSTON — Boxer Property has arranged a lease for SmartVault Corp., a provider of software as a service online document storage and secure file sharing solutions. SmartVault will occupy 7,412 square feet of office space at 720 N. Post Oak Road in Houston. Ashley Myers negotiated the lease on behalf of Boxer Property. The six-floor office building is located north of Uptown Park shopping center and is near the Marque Center and Metro Busline. The building offers a common area conference room, on-site deli with free WiFi, a parking garage and 24-hour key card access.
NEW YORK CITY — Savanna has completed the disposition of 576 Fifth Avenue, a boutique office and retail building in Manhattan. Real Estate Equities Corp. acquired the 72,000-square-foot asset for an undisclosed price. Situated on the corner of Fifth Avenue and 47th Street, the property features a jewelry exchange on the ground floor and offices on the upper floors. Yoron Cohen, Richard Baxter, John Caplan, Scott Latham and Jason Gold of Jones Lang LaSallle represented Savanna in the transaction.
NEW YORK CITY — GFI Realty Services has arranged the sale of an office building located at 2118 Coney Island Ave. in the Sheepshead Bay area of Brooklyn. Constructed in the 1990s, the three-story, 4,800-square-foot medical office building sold for $2.2 million. Erik Yankelovich of GFI Realty Services represented the seller and buyer, both of which are local investors, in the transaction.
RALEIGH, N.C. — CBRE | Raleigh has brokered the sale of the ECPI Building, a Class A office building located at 4101 Doie Cope Road in Raleigh. Constructed in 2001, the 51,903-square-foot property is fully leased with ECPI University occupying 42,637 square feet through February 2026. The buyer, Family Video, purchased the office building for an undisclosed price. Ben Kilgore of CBRE | Raleigh represented the seller, Robinson Development Group, in the transaction.
MISSION VIEJO, CALIF. – ValueRock Realty Partners has acquired Mission Viejo Garden Plaza, a 67,000-sqiare-foot office and retail property in the Orange County submarket of Mission Viejo, for $13.3 million. The center is located at the northwest corner of La Paz Road and Marguerite Parkway. The space was built in 1975 and renovated in 2009. Peter D. Beauchamp, Brian Corrigan, and Mark Sigler of Voit Real Estate Services represented both ValueRock and the unnamed seller in this transaction.
LOS ANGELES – Jump LA has renewed its lease for 7,000 square feet of creative office space at Blackwelder in the Los Angeles submarket of Culver City. The space is located at 3123 S La Cienega Blvd. Other tenants at the campus include Hungry Man, Bandito Brothers and Gentlemen Scholar, as well as visual-effects firms like The Mill. The creative editorial boutique firm was represented by Avison Young’s Jeff Vertun. The landlord, a joint venture between Alcion Ventures and Genton Property Group, was represented by Lincoln Property Company.