HUNTLEY, ILL. — Janko Group has acquired Regency Executive Center, a two-story, 35,000-square-foot medical office building in Huntley, an outer suburb northeast of Chicago. The building located on Regency Parkway is 41 percent leased to 10 tenants. Regency Executive Center is less than two miles north of the recently completed four-way interchange at I-90 and Route 47. The property was built in 2001. Ted Buenger and Dan Bessey of CBRE represented the undisclosed seller in the transaction. Janko Group will manage the property.
Office
SECAUCUS, N.J. — River Drive Construction has been selected to build out the new offices of The RealReal, an authenticated luxury resale marketplace. The retailer will occupy the entire 128,835-square-foot warehouse and office facility located at 35 Enterprise Ave. in Secaucus. River Drive will build out the 10,000-square-foot office portion of the property. Brian Tobiasz, president of Tobiasz Management Co., is overseeing the construction project on behalf of The RealReal.
IRVING, TEXAS — PM Realty Group has brokered a 29,345-square-foot office lease for Hanley-Wood Exhibitions in the Las Colinas Highlands building. The 199,435-square-foot building, located at 6191 N. State Highway 161, is owned by MLCFC 2006-4 Office 6191 LLC. Kurt Cherry, executive vice president of PM Realty, handled the transaction for the owner. Mari Jones, senior director, Billy Gannon, associate director, and Emily Hoffman, senior associate, with Cushman & Wakefield represented the tenant.
GLENDALE, ARIZ. — Zanjero Falls, a 147,405-square-foot office property in Glendale, has sold to a joint venture for $9.1 million. The space is located at 7410 N. Zanjero Blvd. The venture includes Select Healthcare Solutions LLC, Phoenix Cyberknife, and Radiation Oncology Center LLC. The acquisition also includes about 10 acres of developable land. The Class A office development has never been occupied. It is currently configured as eight fully improved lots for future development. Zanjero features a single-story and a three-story office building, both of which are in shell condition. It was built in 2008. The JV was represented by TJ Zaharis of COBE Real Estate. The seller, RCFC Zanjero Falls, was represented by Steve Lindley, Bob Buckley, Tracy Cartledge, Eric Wichterman and Mike Coover of Cassidy Turley’s Capital Markets Group.
JACKSON, MISS. — Holder Properties has begun constructing One Eastover Center, a 120,000-square-foot, Class A office building in Jackson. The property is located in the District at Eastover, a 21-acre mixed-use community. The law firm Baker Donelson will occupy the third, fourth and fifth floors of the five-story property. Holder expects to complete the project’s shell by summer 2015. The project team includes architect Nelson Partners, general contractor Roy Anderson Corp. and leasing brokerage firm Duckworth Realty.
CONSHOHOCKEN, PA. — Keystone Property Group and the borough of Conshohocken have formed a public-private partnership to redevelop the former Verizon building at 400 Fayette in Conshohocken. The partnership plans to redevelop the approximately 44,000-square-foot property into a modern office, retail and community facility, which will house the new borough hall, administrative offices and police headquarters. Under its agreement with Keystone, the borough will maintain ownership of the property and occupy approximately 22,000 square feet of the facility. The remaining portion of the building — 16,500 square feet of office space and 5,500 square feet of retail space — will be marketed by Keystone to prospective office and retail tenants.
MESA, ARIZ. — Buchanan Street Partners has acquired Stapley Corporate Center, a 180,000-square-foot office property in the Phoenix suburb of Mesa, for $32.5 million. The two-building, Class A center is located at 1840 and 1910 South Stapley Drive, near the border of Mesa and Gilbert. Stapley is 90 percent occupied. Tenants with long-term leases include Cigna Healthcare and Wells Fargo. Chris Toci and Chad Little of Cushman & Wakefield of Arizona represented the seller and original developer, the DESCO Group, in this transaction. Buchanan was self-represented. JLL’s Mark Gustin will handle the center’s leasing. Buchanan is targeting value-add investment properties within the Phoenix market. It currently owns 1.4 million square feet of properties in this market, including Mesa Corporate Center and the 260-unit Vue Park West in Peoria, which closed earlier this year.
CHELMSFORD, MASS. — Boston-based Tritower Financial Group has acquired 300 Apollo Drive in Chelmsford. Texas-based USAA Real Estate Company sold the property for $39.4 million. The LEED Silver-certified property offers more than 293,000 square feet of Class A office space. At the time of sale, the property was 100 percent leased to eight tenants. David Pergola and Brian Doherty of Cassidy Turley represented the seller in the transaction.
NEWPORT BEACH, CALIF. – A joint venture between AEW and Kearny Real Estate Company has acquired five fee title buildings and 12 land parcels within Newport Corporate Plaza in Newport Beach for $41.5 million. The 24-building Newport Corporate Plaza is situated on 20 acres of land on Corporate Plaza Drive. The acquired properties are subject to ground leases at the office campus. The joint venture was represented by CBRE’s Gary Stache. The unnamed seller was represented by Don Nourse and Jim Nourse of Lee & Associates – Newport Beach.
MILWAUKEE — Marcus & Millichap has arranged the $5.9 million sale of a 25,466-square-foot medical office building in Milwaukee. The Lakeshore 20th Medical Building is located at 3305 S. 20th St. The property is fully occupied by healthcare tenants. The building is anchored by Lakeshore Medical Clinics, a multi-specialty medical group offering primary care and 20 different sub-specialties. Lakeshore Medical Clinics is a wholly owned subsidiary of Aurora Health Care. Scott Niedergang and Gino Lollio of Marcus & Millichap represented the undisclosed seller and undisclosed buyer. Matthew Fitzgerald of Marcus & Millichap assisted in the transaction.