Office

280,000 SF Office Complex to Undergo Major Renovations in Greenwich, Conn.

by Amy Works November 7, 2014

GREENWICH, CONN. — Kensico Properties is planning a major renovation for Pickwick Plaza, a three-building office complex located in Greenwich. The multi-million dollar capital improvement program will bring the 280,000-square-foot complex back to its Class A status. The main lobbies, elevators, common corridors and bathrooms in all three buildings will be renovated and upgraded; a new façade and store fronts along Greenwich Avenue will be constructed; a new entry from Greenwich Avenue with a water feature will be created; landscaping across the property will be revamped; and the entrance to the four-story, underground garage with be replaced with a new “easy pass” style security gate and high-speed door. Jay Hruska, Tara Stacom, Torey Walsh, Connor Daugstrup and Scott Silverstein of Cushman & Wakefield have been tapped as exclusive leasing agents for the property, which is managed by Hines.

November 7, 2014

Office Texas

Bright Realty Brokers Sale of Former Headquarters in Metro Dallas

by Haisten Willis November 7, 2014

LEWISVILLE, TEXAS — Bright Realty has brokered the sale of the company’s former headquarters located at 4228 N. Central Expressway in Lewisville, a Dallas suburb. The four-story mid-rise, known as the Bright Building, spans 54,000 square feet with three levels of underground parking. Nathan Denton of Lee & Associates represented the buyer, Caddo Holdings, in the transaction. Shawn Hall of Bright Realty worked on behalf of the seller. The building is located on the east side of Central Expressway and served as the corporate headquarters of Bright Realty for more than 12 years. The company relocated to a brand-new office in Castle Hills, a master-planned community in Lewisville developed by Bright Realty in 2013.

November 7, 2014

Delaware Northeast Office

NAI Emory Hill Brokers 278,000 SF in Leases at White Clay Corporate Center

by Amy Works November 7, 2014

NEWARK, DEL. — NAI Emory Hill has brokered more than 278,000 square feet of office space leases at its White Clay Corporate Center in Newark. CitiGroup Technology renewed its lease for approximately 88,000 square feet of office space and JP Morgan Chase inked a deal for several spaces totaling 190,000 square feet to accommodate an expansion. Neil Kilian of NAI Emory Hill brokered the transactions, which total more than $11.6 million.

November 7, 2014

Massachusetts Northeast Office

MPM Capital Inc. Becomes First Tenant at 450 Kendall Street

by Amy Works November 7, 2014

CAMBRIDGE, MASS. — Transwestern | RBJ has brokered a lease between BioMed Realty Trust Inc. and MPM Capital Inc. at the recently completed 450 Kendall Street in Cambridge. MPM Capital, a venture capital firm focusing on the biomedical industry, will occupy 14,511 square feet at the building starting in April 2015. Steven Purpura and Eric Smith of Transwestern | RBJ represented the building owner, BioMed Realty, while John Barry and Jeff Landers, also of Transwestern | RBJ represented the tenant in the transaction. The 60,117-square-foot property is the first speculative office building to be constructed in Cambridge since 2001.

November 7, 2014

Florida Office Southeast

Avison Young Brokers $33M Sale of Office Campus in Boca Raton

by John Nelson November 7, 2014

BOCA RATON, FLA. — Avison Young has brokered the $33 million sale of 595 Financial Center, a two-building, Class A office portfolio totaling 116,000 square feet. The properties are located at 555 and 595 S. Federal Highway in Boca Raton. Keith O’Donnell and Jonathan Senn of Avison Young represented the buyer, Pinnacle Holdings Inc., in the off-market transaction. Pinnacle Holdings purchased the office campus in a 1031 tax-deferred exchange. Charles Shane of Bryason Realty Corp. represented the unnamed seller. Morgan Stanley is the anchor tenant of 595 Financial Center.

November 7, 2014

Arizona Office Western

Palm Valley Office Park I & II in Goodyear Sell for $15.3M

by Nellie Day November 6, 2014

GOODYEAR, ARIZ. – Palm Valley Office Park I & II, an 83,575 square foot office project in Goodyear, has sold to Kootenay Holdings for $15.3 million. The space is located at 1616 and 1646 North Litchfield Road. The seller was Steve Schrag, REO asset manager, of Key Bank c/o KeyCorp Real Estate Capital Markets. The transaction was executed by Bob Buckley, Tracy Cartledge and Steve Lindley of Cassidy Turley’s Capital Markets Group. Jeffery Hartland and Scott Boardman of Cassidy Turley’s Office Group will handle the building’s leasing.

November 6, 2014

California Office Western

San Rafael Office Building Changes Hands

by Nellie Day November 6, 2014

SAN RAFAEL, CALIF. – Ellis Partners LLC has acquired a 130,237-square-foot office building in San Rafael for an undisclosed sum. The building is located at 4040 Civic Center Drive. The seller was an institutional investor. Cushman & Wakefield will handle the leasing of the property and CBRE will take on the property management assignment for the new ownership. This acquisition represents the fourth purchase by Ellis Partners with capital partner Artemis Real Estate Partners.

November 6, 2014

California Office Western

ThinkFactory Media Leases 33,444 SF in Los Angeles

by Nellie Day November 6, 2014

LOS ANGELES – ThinkFactory Media has leased 33,444 square feet of office space in Los Angeles. The space is located at 1640 S. Sepulveda Blvd. ThinkFactory will use this space for its corporate headquarters and production services. The landlord, Ocean West Capital Partners and Westbrook Partners, was represented by JLL’s Carl Muhlstein, Hayley Blockley and Jaclyn Ward.

November 6, 2014

Midwest Mixed-Use Multifamily Office Ohio Retail

Historic Cincinnati Building to Become Mixed-Use Development

by Danielle Everson November 6, 2014

CINCINNATI — Village Green has purchased 309 Vine St. in downtown Cincinnati and plans to redevelop the 300,000-square-foot building into a mixed-use property. The redeveloped building is set to open under a new name in 2016. Plans for the property include the addition of luxury apartments, penthouses, a market, restaurant and offices. The 1920s era, Beaux–Arts commercial building was originally an annex to the PNC Tower. In the 1800s it was the site of The Burnet Hotel, known for hosting President-elect Abraham Lincoln on his inaugural journey to Washington D.C.

November 6, 2014

Massachusetts Northeast Office

Faros Properties Acquires 20 Ashburton Place for $9.85M in Boston

by Amy Works November 6, 2014

BOSTON — Faros Properties has purchased 20 Ashburton Place, an eight-story office building in Boston’s Beacon Hill neighborhood, for $9.85 million. Built in 1968, the 48,580-square-foot building is occupied by Massachusetts Teachers Association, Beacon Hill Staffing Group and Beacon Hill Consulting Group. Frank Petz, Jessica Hughes and Robert Borden of JLL represented the seller in the transaction.

November 6, 2014

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