Office

Brasfield & Gorrie Breaks Ground on $50M Office Tower in Nashville, Leases Space

by John Nelson October 28, 2014

NASHVILLE, TENN. — Brasfield & Gorrie has signed a lease to occupy office space at 1201 Demonbreun, a $50 million, 15-story office tower in Nashville’s Gulch neighborhood. Brasfield & Gorrie is the general contractor of the 680,000-square-foot project, which includes 305,000 square feet of office space and a 375,000-square-foot parking deck with 950 spaces. The project team includes developer Eakin Partners and architect Hastings Architecture Associates. Brasfield & Gorrie expects to deliver 1201 Demonbreun in late 2016 and move in to its office space in spring 2017. Other committed tenants include talent agency William Morris Endeavor, law firm Neal & Harwell and Sony Music Nashville.

October 28, 2014

Massachusetts Northeast Office

Brickman Associates Takes Blackstone Science Square in Cambridge

by Amy Works October 28, 2014

CAMBRIDGE, MASS. — JLL Capital Markets team has brokered the sale of Blackstone Science Square, a Class A office/lab building in Cambridge. Centremark Properties sold the four-story, 78,672-square-foot property to Brickman Associates for $31.5 million. Located at 237 Putnam Ave. and 19-23 Blackstone St., the property has undergone $8.1 million of capital improvements over the past five years. The improvements include significant infrastructure upgrades to accommodate life science lab tenants and new lobby and common area finishes. Additionally, there is a 94-space parking lot adjacent to the building. Current tenants include Good Start Genetics Inc., Ambri, Genewiz and Cireca Thernostics. Frank Petz and Jessica Hughes of JLL led the JLL Investments Sales team on the transaction.

October 28, 2014

Office Western

Snell & Wilmer Renews at Plaza Tower in Costa Mesa

by Nellie Day October 28, 2014

COSTA MESA, CALIF. – Snell & Wilmer law firm has renewed its lease for 53,000 square feet at Plaza Tower in Costa Mesa. The Class A property is located at 600 Anton Blvd. It sits adjacent to South Coast Plaza and the Segerstrom Center for the Arts. Snell & Wilmer was represented by CBRE’s Kevin Bender and Steve Bay. The landlord was represented by Rick Kaplan, Robert Lambert and Matt Moore of Cushman & Wakefield.

October 28, 2014

Arizona Office Western

Gateway Office Center in Phoenix Sells for $3M

by Nellie Day October 28, 2014

PHOENIX – Gateway Office Center, a 31,557-square-foot office complex in Phoenix, has sold to Garnett Capital Corporate for $3 million. The center is located at 4130 E. Van Buren Ave., within the Phoenix Gateway Center Office Park. It was built in 1987. The property is fully leased. The seller, Brentwood Gateway Center, was represented by Eric Wichterman, Mike Coover and Gordon Raguse of Cassidy Turley.

October 28, 2014

Illinois Midwest Office

J.C. Anderson to Complete 30,000 SF Renovation in Downers Grove, Ill.

by Danielle Everson October 27, 2014

DOWNERS GROVE, ILL. — J.C. Anderson Inc. will complete a 30,000-square-foot office renovation for CompuSystems Inc. (CSI) in Downers Grove, an eastern suburb of Chicago. The property is located at 2655 Warrenville Road (Corridors II). The build-out at Corridors II will serve as the new headquarters for CSI, a major registration service provider for the convention trade show industry. The new space will include the addition of private offices, conference rooms, workstations, break rooms, training rooms as well as open work areas. Construction is scheduled for completion in December. The firm, previously located at 2805 S. 25th Ave. in Broadview, was founded in 1976 and employs approximately 200 people. Dawn Newman of Newman Architecture is providing the architectural services and Syska Hennessy Group is providing engineering services for the project. Jason Hawkins, Greg Garland and Bill Dennison led the J.C. Anderson construction team.

October 27, 2014

Illinois Midwest Office

Morgan/Harbour Completes 16,256 SF Office Build-Out in Naperville, Ill.

by Danielle Everson October 27, 2014

NAPERVILLE, ILL. — Morgan/Harbour has completed a 16,256-square-foot office build-out for Thatcher Technology Group in Naperville. The property is located at 55 Shuman Blvd. Founded in 1999, Thatcher Technology Group is a provider of sales performance management software to the direct selling industry. The firm has relocated to this new property from another Naperville location. The office build-out included the construction of private offices, conference rooms, a copy room and large break room. Clay Scheller, John Becker and Kieran Towe led Morgan/Harbour’s construction team. The DePalma Group provided architectural services for the project.

October 27, 2014

Midwest Missouri Office

Colliers Arranges $22.8M Sale of Office Property Near St. Louis

by Danielle Everson October 24, 2014

WEBSTER GROVES, MO. — Colliers International has arranged the $22.8 million sale of a single-tenant, triple-net-leased office property in Webster Groves, 11 miles southwest of St. Louis. The 90,000-square-foot research and development facility is located within the Owen Ridge Business Park at 381-385 Marshall Ave. Steve Tharpe, Gwen Knight and Spencer Toder of Colliers International represented the seller, Owen Ridge Associates LLC. The Kase Group, an affiliate of Sperry Van Ness based in northern California, represented the buyer, New York-based American Realty Capital.

October 24, 2014

California Office Western

Cypress West Partners Buys Glendale Medical Office Building for $29M

by Nellie Day October 24, 2014

GLENDALE, CALIF. – Cypress West Partners has acquired a 76,758-square-foot medical office building in Glendale for $29 million. The four-story building is located at 1500 E. Chevy Chase Drive. The facility was built in 2008. It sits on the Glendale Adventist Medical Center campus. Cypress West was represented by DAUM Commercial Real Estate Services.

October 24, 2014

California Office Western

Mission Health Center in Rancho Santa Margarita Sells for $7.8M

by Nellie Day October 24, 2014

RANCHO SANTA MARGARITA, CALIF. – Mission Health Center, a 23,289-square-foot medical office building in the Orange County submarket of Rancho Santa Margarita has sold to Cypress West Realty Partners LLC for $7.8 million. The center is located at 22032 El Paseo within the Rancho Santa Margarita Town Center. Mission Health Center was built in 2001. It was 77 percent leased to six medical and dental tenants. The largest tenant is Mission Hospital Regional Medical Center. Dan Vittone and Alan Pekarcik of Avison Young represented both the buyer and the unnamed seller in this transaction.

October 24, 2014

New Jersey Northeast Office

One Liberty Properties Sells 106,680 SF Office Building for $40M

by Amy Works October 23, 2014

PARSIPPANY, N.J. — One Liberty Properties has sold an office building, located at 45 Waterview Blvd., for $40 million. The 106,680-square-foot building is 100 percent leased on a long-term basis by Royal DSM, a global life science and material science company, for its North American headquarters. Jeffrey Dunne, Kevin Welsh, Brian Schulz and Frank Maresca of CBRE Group’s Institutional Properties team represented the seller and procured the buyer, a fund invested in by an offshore entity and first-time U.S. buyer, in the deal. The fund is managed by JM Capital LLC and advised by Nadlan Advisors LLC.

October 23, 2014

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