HAMDEN, CONN. — Hamden-based Press/Cuozzo Commercial Services has arranged a long-term lease for Cross Sector Consulting LLP. The company will relocate from its downtown New Haven, Conn., location to occupy 1,750 square feet of office space at 2558 Whitney Ave. in Hamden. Joel Nesson of Press/Cuozzo represented the landlord, Cucinelli Whitney LLC, while Kevin Walker, also of Press/Cuozzo, represented the tenant in the deal.
SAN DIEGO – An 11,686-square-foot office building in San Diego has sold to Jason R. Larson for $3 million. The building is located at 5925 Kearny Villa Road. The buyer plans to use the first floor of the building as the headquarters for Lars Remodeling and Design. The current tenant will continue to occupy the second floor. The building was constructed in 1991. Larson was represented by Jody VanSumer of San Diego Market Realty. The seller, 5925 Kearny LLC, was represented by Derek Hulse and Derek Applbaum of Colliers International.
TUCSON, ARIZ. – An 11,036-square-foot medical building in Tucson that is leased to Arizona Oncology has sold to Redyns Development for $2.9 million. The building is located at 1620 W. St. Mary’s Road. Redyns was represented by Stephen Cohen and Russ Hall of Cushman & Wakefield | PICOR. The seller, St. Mary’s Silverbell Building LLC, was represented by CBRE’s Mike Sandahl, Wyatt Campbell and Buzz Isaacson.
ALLEN, TEXAS — Cassidy Turley has arranged a lease renewal for State Farm Mutual Automobile Insurance Co.’s 62,791-square-foot office space at Allen Station in Allen. Randy Cooper and Craig Wilson of Cassidy Turley represented State Farm in the transaction. John Hendricks and Wilson Brown of CBRE represented the landlord, LIT Finance LP. Allen Station is located at 381 E. Exchange Parkway and spans 220,326 square feet. State Farm has occupied the building since 2004. Allen Station was built in 2001 and is located just east of U.S. Highway 75 on the north side of Exchange Parkway.
ATLANTA — Cousins Properties Inc. has signed Veritiv Corp. (NYSE: VRTV), a $9.5 billion Fortune 500 company, to a 68,315-square-foot office lease at Northpark Town Center in Atlanta. The business-to-business distribution firm plans to take occupancy at Northpark in the spring of 2015. With the addition of Veritiv, the office building in Atlanta’s Central Perimeter submarket is 91 percent leased. Sam Holmes, John Shlesinger and Ellen Stern of CBRE represented Veritiv in the lease transaction. Atlanta-based Cousins purchased Northpark in October 2014 from AEW Capital Management and the Bank of Ireland for $348 million.
SCOTTSDALE, ARIZ. – A 30,120-square-foot office building in Scottsdale has sold to Garland’s Oak Creek Lodge for $5.1 million. The building is located at 6910 E. Chauncey Lane within the North Scottsdale Corporate Center. It was constructed in 2006. Garland’s was represented by Francis Marotta of MarCor Commercial Real Estate. The seller, CM & PM Acquisitions LLC, was represented by Colton Trauter and Bill Blake of Lee & Associates.
GLENDALE, ARIZ. – Progressive Leasing has absorbed 20,000 square feet at Talavi Corporate Center in Glendale. The office campus is located at 5651 W. Talavi Blvd. This will be the financial services vendor’s first operations center in Arizona. CBRE’s Ashley Brooks, Jim Bayless and Jenny Aust negotiated the lease on behalf of Progressive and its landlord, ROF II Talavi LLC.
CHICAGO — Golub & Co., in a partnership with Boston-based Alcion Ventures, has acquired Oak Brook Executive Plaza, a 389,000-square-foot office in Oak Brook, a Chicago suburb. Bank of America provided financing for the transaction. The purchase price was undisclosed, but according to Crain’s Chicago the joint venture agreed to pay about $57 million, or $150 per square foot, for the property. The office complex is located on West 22nd St. across from Oak Brook Center Mall and is visible from I-88. Chicago-based Golub and Alcion plan to reposition the property as high-quality office space for corporate and creative firms. The redevelopment plans include enhanced curb appeal, updated office interiors and common areas and new tenant amenities.
CHICAGO — Brennan Investment Group LLC has acquired the Cumberland Metro Office Park, a portfolio of 12 multi-tenant, single-story office/flex buildings totaling approximately 164,448 square feet in Chicago’s O’Hare submarket. The purchase price and seller were undisclosed. The office park is located on nearly 15 acres, less than two miles from O’Hare International Airport. The O’Hare submarket has demonstrated strong real estate fundamentals, evidenced by 12 consecutive quarters of positive net absorption, according to Kevin Brennan, vice president of acquisitions at Rosemont, Ill.-based Brennan Investment Group. The private real estate firm, which acquires, develops and operates industrial properties nationally, currently owns and manages nearly 20 million square feet of industrial properties in 22 states.
ORLANDO, FLA. — CBRE has brokered the $26.5 million sale of a 124,500-square-foot, single-tenant office building in Orlando fully leased to Kaplan University. The two-story property is located in the Central Florida Research Park at 12650 Ingenuity Drive and features a 25-foot glass atrium, open spiral staircase and a cafeteria. Kaplan University signed a 13-year lease for the entire building in 2008. Ronald Rogg and Chip Wooten of CBRE represented the seller, RT Ingenuity LLC, in the transaction. City Office REIT Inc. purchased the property.
