IRVINE, CALIF. – FNIS Holdings has acquired a 9,900-square-foot office building in Irvine for $3.4 million. The building is located at 8855 Research Drive. FNIS was represented by Blake Garrett of Cushman and Wakefield. The seller, Research Property LLC, was represented by Bob Rieden of Lee & Associates – Newport Beach.
NEWARK, N.J. — The Berger Organization has acquired 58 Park Place in Newark from PPSJ Corp. for an undisclosed price. The 30,000-square-foot office property is 50 percent occupied by the Garden State Ballet and Tempo Networks, a pan-Caribbean media and entertainment company. Habitat for Humanity, which is currently located at 60 Park Place, plans to relocate to the fourth floor of 58 Park Place. This acquisition adds to the company’s current Newark portfolio, which includes 10, 50 and 60 Park Place and 570 and 765 Broad Street. Additional terms of the transaction were not released.
ROCKY HILL AND BERLIN, CONN. — O,R&L Commercial has brokered the $4.63 million sale of a four-building office portfolio in Berlin and Cromwell. Universal Enterprise LLC purchased the properties, which includes one building in Berlin and three buildings in Cromwell, for $4.63 million from RH Medical Center Associates LLC and Mill Crossing Associates, respectively. The 12,000-square-foot medical office building, located at 546 Cromwell Ave. in Rocky Hill, sold for $1.6 million, and the 35,000-square-foot Mill Crossing, located at 1224 Mill St. in Berlin, sold for $3.03 million. The buyer plans to expand the three-building complex at Mill Crossing to include a fourth building featuring 10,000 square feet of office/medical office space. Jay Morris of O,R&L Commercial represented all parties in the transaction.
MINNETONKA, MINN. — NorthMarq Capital’s Minneapolis office has arranged $10.7 million in acquisition financing for the Williston Business Center, a 354,730-square-foot office property in Minnetonka. Patrick Minea and Dan Trebil of NorthMarq arranged financing for the undisclosed borrower through the firm’s correspondent relationship with a life insurance company.
CUDAHY, WIS. — The Dickman Co. has arranged the lease of a 10,300-square-foot industrial/office space located at 5801 S. Pennsylvania Ave. in Cudahy. Samuel D. Dickman, Samuel M. Dickman Jr. and Anthony Huenerbein of The Dickman Co. represented the landlord, Hansen Storage Company LLC. Tony Haning of Jones Lang LaSalle represented the tenant, KONE Inc.
AUSTIN — Transwestern has brokered the sale of Park Central to an investment partnership headed by Vista Equities Group of Houston. Park Central is a 114,091-square-foot office building located in Austin’s north submarket near the intersection of I-35 and Parmer Lane. The three-story building was 74 percent leased to six tenants at the time of sale. Hale Umstattd and Leah Gallagher of Transwestern represented the seller. The property was built in 2008. GE Capital Corp. provided financing for the acquisition, which Tyler Ford of HFF’s Houston office arranged.
FREELAND, MICH. — The Boulder Group has arranged the $2.6 million sale of a single-tenant FedEx property located at 8273 Garfield Road in Freeland. The 27,000-square-foot FedEx was built in 1991. FedEx is located along Garfield Road, the main thoroughfare between the MBS Airport Terminal and US-10. The property includes 4,000 square feet of office space and 23,000 square feet of warehouse/distribution space with 16-foot clear height ceilings. FedEx has 11 years remaining on their lease, which expires June 30, 2026. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Midwest-based private real estate investor. A Florida-based private investor purchased the property.
SAN ANTONIO — HFF has arranged the sale of Highpoint Towers, two 11-story office towers totaling 301,118 square feet adjacent to the South Texas Medical Center in San Antonio. HFF marketed the property on behalf of the seller, DNA Partners. Highpoint Towers is situated on a 13-acre site at 8401 and 8515 Datapoint Drive, which is accessible from I-10, Loop 410 and Loop 1604. The assets are located in the northwest office submarket and include views of the San Antonio skyline and hill country. The new ownership plans to make renovations to the project including upgrading the lobbies, adding exterior aesthetics, elevators and bathrooms. John Taylor, Kelsey Roop, Patrick McCord and Ryan McBride led the HFF sales team representing the seller.
ANN ARBOR, MICH. — Colliers International Ann Arbor and Wickfield Properties have arranged the lease of 134,927 square feet of office space in Ann Arbor. Truven Health Analytics will occupy space in the Wickfield Center located at 100 Phoenix Drive. The company is relocating its North American headquarters in Ann Arbor to the center and will employ approximately 850 people at the campus. The property previously served as the former Borders Books corporate headquarters before Colliers International sold it to Ann Arbor-based Wickfield Properties in 2013. Jim Chaconas and Brendan Cavender of Colliers International Ann Arbor are directing leasing and marketing efforts for the Wickfield Center.
NEW YORK CITY — New York City-based Savanna has partnered with Hornig Capital Partners and Chelsea Village Associates to acquire 95 Evergreen Ave. in the Bushwick neighborhood of Brooklyn for an undisclosed price. The five-story, 165,000-square-foot industrial building is located on the southeastern corner of Evergreen Avenue and George Street. Originally built as the Schlitz Brewery, the property features 15,500- to 36,600-square-foot floor plates, 15- to 30-foot ceiling heights and large windows with direct views of Manhattan and the surrounding boroughs. The joint venture plans to launch a $20 million building-wide capital improvement program in the first quarter of 2015 to convert the property into an office and retail location. Renovations include upgrading the property’s façade, windows, roof, generator, elevators, electric and plumbing systems, fire alarms, sprinklers and HVAC systems. The new space will cater to creative, media and technology tenants. Joe Berko and Lee Slipe of Berko & Associates represented the undisclosed seller in the transaction.