RICHLAND, MISS. — Southeast Industrial Properties II LLC, a joint venture between Duckworth Realty and Hines Investments, has completed a 21,650-square-foot flex facility at 101 Riverview Drive in Richland. The facility is the corporate headquarters for APAC Mississippi Inc. and features office space, a warehouse and equipment service bays with an overhead crane. Peoples Construction Corp. was the general contractor for the project.
Office
STERLING, VA. — New Boston Fund Inc. has sold Rockwell Collins, a 178,234-square-foot research and development facility at TransDulles Centre in Sterling. American Realty Capital Properties Inc. purchased the Class A property for an undisclosed price. New Boston Fund developed the build-to-suit project for Rockwell Collins Simulation & Training Solutions Group in 2011. Dek Potts, Bruce Strasburg, Jim Meisel, Andrew Weir and Stephen Conley of HFF represented New Boston in the transaction.
FORT LEE, N.J. — James Campbell Co. has invested more than $2 million in capital improvements for the company’s 217,000-square-foot office property located at 2200 Fletcher Ave. in Fort Lee. The renovation will include a new roof and cooler tower, significant parking garage upgrades, and a modernization of the atrium lobby and common areas on each of the building’s seven floors. Designed by DMR Architects, the new interior space will feature “living walls” that reflect the ownership’s commitment to sustainability, an updated color scheme and other features to enhance the tenant environment. The property is currently 90 percent leased to a variety of tenants, including Merrill Lynch, Telemundo and MetLife. Cushman & Wakefield, which serves as exclusive leasing agent and onsite property manager for the property, will oversee the capital improvements project. The property’s leasing team includes Richard Baumstein, Marc Graham and Christian Politan of Cushman & Wakefield, and Bob Stark and Charlene LeMoine, also of Cushman & Wakefield, oversee property management for the building.
BLOOMINGTON, MINN. — KBS Realty Advisors of Newport Beach, California, has acquired Northland Center, a 465,168-square-foot office complex in Bloomington, for $51 million. The property was 89 percent leased at closing; United Properties sold the property. Northland Center is a LEED-EB Silver-rated property located at 3500 and 3600 American Blvd. West. Renovated in 2010, the two-building asset is seven stories high and covers 12.9 acres. Amenities include an onsite, full-service cafeteria, fitness facility with locker rooms and showers, conference rooms, sundry shop, hair salon, dry cleaning service and a car wash/detailing service. Tom O'Brien and Scott Pollock of Cushman & Wakefield/NorthMarq, Minneapolis, represented United Properties in the sale.
WESTERVILLE, OHIO — The Cooper Commercial Investment Group has arranged the $6.5 million sale of the TPUSA Inc. office building in Westerville, a suburb of Columbus. TPUSA, a subsidiary of the internationally recognized and publicly traded French company Teleperformance, signed a new seven-year lease, with yearly rental increases through 2020 and reimbursments for all operating expenses and also management expense of the property. Dan Cooper of Cooper Commercial Investment Group’s Cleveland office represented the seller, a Cleveland-based private investment group, and the buyer, a New York-based private investment group. The property was sold representing an 8.17 percent capitalization rate and just over $149 per square foot.
MURRIETA, CALIF. – A pair of Class A office buildings in Murrieta has sold to Village Walk Murrieta LP for $7.7 million. The properties contain a total of 37,652 square feet. The first building is called Village Walk Corporate Center. It was built in 2004 at 41391 Kalmia Street. Village Walk is 96 percent occupied by 11 tenants. The second building is located at 41381 Kalmia Street. This building is fully occupied by Pacific Western Bank. Dan Vittoneand Alan Pekarcik of Avison Young represented both the buyer and seller, Village Walk Square LLC, in this transaction.
DALLAS — CBRE has brokered the sale of 1700 Pacific, a Class A office tower in the Dallas central business district. Quebec, Canada-based Olymbec Group bought the property for an undisclosed price. The 49-story tower totals 1.3 million square feet and includes three levels of parking and concourse-level retail. CBRE’s John Alvarado, Gary Carr, Eric Mackey and Robert Hill arranged the sale on behalf of the seller, Berkeley Investments Inc. 1700 Pacific is in walking distance of downtown Dallas destinations including the Tower Club, Main Street Gardens, the Neiman Marcus flagship store and Majestic Theatre. Tenants include Akin Gump Strauss Hauer & Field LLP, Neiman Marcus, Mary Crowley Medical Research Center and Southcross Energy.
CHARLOTTE, N.C. — CBRE has brokered the $64 million sale of Coliseum Centre 3, 5 and 6, three Class A office buildings in the Coliseum Centre office park in Charlotte. The six-story buildings are located at 2550 W. Tyvola Road and 2810 and 2815 Coliseum Centre Drive. Coral Gables-based America’s Capital Partners purchased the properties from Vision Properties/Arena Capital Group and CarVal Investors. Patrick Gildea, Will Yowell and Justin Parsonnet of CBRE represented the sellers in the transaction.
QUINCY, MASS. — HFF has secured $25 million in first mortgage financing for 100 Hancock Street in Quincy. HFF placed the long-term, fixed-rate loan with Peoples United Bank for the borrower, Synergy Investments. Renovated in 2008, the 10-story 204,750-square-foot office building is certified LEED silver and features a full-service cafeteria, fitness center, shared conference facility and a three-level, 329-space parking garage. The property is 95 percent leased to a variety of tenants, including several State of Massachusetts agencies. Greg LaBine and Patrick McAneny led the HFF team representing the borrower in the transaction.
RED BANK, N.J. — Red Bank-based AEP Properties LLC has acquired a three-story, 6,600-square-foot office building located at 213 Route 35 in Red Bank for an undisclosed price. The buyer plans to renovate the building, which is currently vacant, to create a multi-tenant property. Once renovations are complete, Pereless Systems will expand its customer service and support teams into the property. Brian Murphy of Sitar Realty Company represented the buyer in the transaction.