SCOTTSDALE, ARIZ. – SheKnows has leased 20,000 square feet at Element at Kierland, a 55,268-square-foot office building in Scottsdale. The space is located at 14614 N. Kierland Blvd. The women’s lifestyle media platform will use this space as its corporate headquarters. SheKnows was represented by Clint Hardison of Keyser. The landlord, Montana Avenue Capital Partners, was represented by Luke Walker, Dave Carder and Eric Schultz of CBRE’s Phoenix office.
KANSAS CITY, MO. — Gailoyd Enterprises Group has sold The Power & Light Building to NorthPoint Development for an undisclosed sales price. The historic office tower, located at 106 W. 14th St. in downtown Kansas City, will be converted to a mixed-use development with 200 apartments. The sale included the 285,000-square-foot building and approximately one acre of adjacent land on the north side of the building. The land will be utilized for parking and 70 new apartment units for a total of 270 new units. The building currently is vacant. Riverside, Mo.-based NorthPoint plans to begin construction immediately. Gib Kerr of Cassidy Turley represented Carmel, N.Y.-based Gailoyd Enterprises in the transaction.
ATLANTA — Columbia Property Trust, one of the largest office REITs in the nation, has completed the sale of a five-building, 1 million-square-foot office campus in Atlanta for $290 million. The campus, which is fully leased to AT&T Services Inc., is located at 1025, 1055, 1057 and 1277 Lenox Park Blvd. and 2180 Lake Blvd. in the Lenox Park office complex in the Buckhead office submarket. The buyer was undisclosed.
TEWKSBURY, MASS. — Rubenstein Properties Fund II has acquired 495 Business Center, a commercial office park located in Tewksbury, for $13 million. The property consists of four conjoined buildings totaling approximately 722,422 rentable square feet at 200, 300, 400 and 500 Network Center Dr. The property, which is the birthplace of Wang Computers, is currently occupied by a mix of tenants, including office, R&D, laboratory, manufacturing and flex. Rubenstein Partners and its partner, Genesis Management Group, plan to renovate and reposition the property.
PARSIPPANY, N.J. — CBRE Group Inc. has brokered the sale of a four-property office portfolio in Parsippany. Cornerstone Real Estate Advisers, acting on behalf of a firm-managed fund, sold the properties to a joint venture between Lincoln Property Co. and Red River Asset Management for an undisclosed price. The 210,888-square-foot portfolio includes 10, 20 and 30 Lanidex Plaza and 299 Cherry Hill Road. Currently the portfolio is 67 percent leased to 15 tenants with stability provided by 30 Lanidex, which is 100 percent leased on a long-term basis. Jeffrey Dunne, Kevin Welsh, Brian Schula and Frank Maresca of CBRE Institutional Properties along with Jeremy Neuer of CBRE’s East Brunswick, N.J., office represented the seller and procured the buyer in the transaction.
LONE TREE, COLO. – Charles Schwab has opened its 650,000-square-foot office campus in Lone Tree. The property will serve as the brokerage and banking company’s corporate campus. The campus is located at 9800 Schwab Way within the RidgeGate community. The new property will also house Schwab’s retail building that’s on the corner of Lincoln Avenue and Park Meadows Boulevard. It is one of four branches in the Denver area. The campus contains three five-story office buildings, a two-story retail branch, two parking garages and an amenities building that features a 15,000-square-foot employee dining facility. So far, about 70 percent of the campus has been completed. Two of the three office buildings are ready for occupancy. The third is scheduled for completion next summer. Schwab plans to move about 2,000 employees to its campus over the next year and a half. Construction on the campus began in March 2013. It was built by Mortenson Construction and designed by Fentress Architects. Schwab is pursuing LEED-Platinum certification on the campus. Sustainability features include a two-acre green roof, green materials, daylighting, water-saving devices and an optimized HVAC system.
CHICAGO — The Telos Group LLC has arranged a 49,464-square-foot lease for Cision at One Prudential Plaza in Chicago. Cision, a provider of public relations software and services, will occupy the entire seventh floor of One Prudential Plaza. The building’s ownership, Berkley Properties and 601W Cos., have committed nearly $85 million of improvements, which include the lobby and plaza areas as well as new and upgraded amenities. Jesse Van Dyke of JLL represented Cision in the transaction. Matt Pistorio and Bill Truszkowski of Telos represented building ownership.
CHARLOTTE, N.C. — Trinity Capital Advisors plans to develop 1000 S. Tryon St., a new 300,000-square-foot, Class A office building in Charlotte’s South End submarket. The 14-story building will be located on the gateway corner of Tryon and Morehead streets. The office building will feature retail space on the ground floor and a multifamily façade is planned for the side of the parking deck fronting Morehead Street. The project is a joint venture between Trinity Capital Advisors and Honey Properties, the long-time owner of the site. Once the asset has a committed anchor, Trinity Capital Advisors will break ground on the property with a 15-month construction schedule, according to Gary Chesson, founding partner of Trinity Capital Advisors.
BOSTON — CBRE/New England’s Debt & Structured Finance team has secured two separate acquisition loans for a three-building portfolio and an office building in Boston. The team secured $21.4 million from Brookline Bank for the Summer Street Portfolio, which comprises 71, 77 and 87 Summer Street in Boston and $27.8 million from Rockland Trust for 38 Chauncy Street in Boston. CBRE/NE’s Carlos Febres-Mazzei, Kyle Juszczyszyn, Chris Coutts, Alex Bradley and Taylor Shepard arranged the financing on behalf of Synergy Investments and DivcoWest. The Summer Street Portfolio totals 90,070 square feet and is 97 percent occupied. 38 Chauncy Street recently underwent significant capital improvements with several million invested in base building enhancements to the heating and cooling systems, elevators and lobby.
YORKTOWN, N.Y. — GHP Office Realty has acquired two properties totaling 351,811 square feet of mixed-use space in Yorktown. The 209,000-square-foot property at 2649 Strang Blvd. is occupied by ENT & Allergy Associates, Hudson Valley Hematology, North Shore-Long Island JHS, Northern Westchester County Dental, Hudson Valley Oral Surgery and Dialysis Clinic Inc. The one-story, 142,811-square-foot building at 2651 Strang Blvd. is home to Mercy College’s Yorktown campus. In total the buildings are 40 percent occupied. Andrew Greenspan, Jamie Schwartz, Mike Cinicolo, Andrea Lofaro and Harrison Lyss provided in-house representation for GHP Office Realty in the transaction. Elizabeth Smith of Goldberg Weprin Finkel Goldstein LLP provided legal counsel and Jim Maloney of The Great American Title Company provided title services for GHP. Additional details of the transaction were not released.
