AUSTIN, TEXAS — Clarion Partners LLC has acquired a two-building, 171,872-square-foot office portfolio, as well as a 59,546-square-foot retail building, in Austin. The office portfolio, which includes the Mira Vista and The Overlook properties in southwest Austin, was 98.2 percent leased at the time of the sale to a variety of professional service providers. The retail property, located within The Domain mixed-use project, was fully leased by Whole Foods. HFF represented the seller in both transactions.
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ZIONSVILLE, IND. — Lee & Associates has arranged the $470,000 sale of a 4,432-square-foot medical office building in Zionsville, approximately 18 miles northwest of Indianapolis. Indiana Medical Weight Loss LLC purchased the building located at 12050 M. Michigan Road. Keith Claghorn of Sycamore Group represented the buyer. Bob Lindgren of Lee & Associates represented the seller, Forty One Corp. The freestanding medical office building is situated on slightly less than one acre.
PHILADELPHIA — SSH Real Estate represented Pond Lehocky Stern Giordano LLP in the law firm’s lease of office space at One Commerce Square. Located at 2005 Market St., the law firm will occupy 52,000 square feet of space or three floors starting in December. Additionally, the lease includes an outdoor terrace on the 18th floor for client dining and entertainment. The law firm is currently located at United Plaza at 30 S. 17th St. Peter Soens and Michael Kennedy of SSH Real Estate represented the tenant, while Brian Orr, Dan Galbally, Matt Croce and Steve Rush represented the landlord, Brandywide Realty Trust, in-house.
NEW YORK CITY — New York-based Savanna has brokered 45,926 square feet of new leases at 31 Penn Plaza, an 18-story, 444,000-square-foot office building in New York. NPD Group, represented by Adam McCostlin and Doug Levine of DTZ, signed a 10-year lease for 6,228 square feet on the fourth floor. Barry Zeller and Andrew Ross of Cushman & Wakefield arranged a five-year, 6,523-square-foot lease for Salon Media Group. New Audio LLC, represented by Jason Frazier of CBRE, signed a 10-year, 6,370-square-foot lease. Additionally, Frazier and Christopher Mansfield of CBRE brokered a 10-year, 20,726-square-foot lease for RevTrax. Finally, TRIBUNE 365, an affiliate of Tribune Publishing, signed a seven-year, 6,079-square-foot lease. Robert Hill and Timothy Hay of CBRE represented the tenant.
BOULDER, COLO. — Velocis Advisors has acquired an office building in Boulder’s Flatiron Business Park for an undisclosed sum. The firm purchased the building on behalf of its client, a Dallas-based family office. The 96,000-square-foot building is located at 5775 Flatiron Parkway. It is fully leased to financial service and technology-related tenants.
CARY, N.C. — A joint venture between Intercontinental Real Estate Corp. and Spectrum Properties has acquired a four-story, Class A office building in Regency Park in Cary. Regency Park includes a dozen office buildings, three hotels, a 110,000-square-foot fitness club, retailers and upscale housing. The property will be rebranded and marketed as Regency Pines. Spectrum also purchased 17 adjacent acres, which can house an additional 250,000 square feet of office space. Spectrum Properties will handle the leasing and management for the new property.
MIAMI — New Boston Fund Inc. has sold Waterford Centre, a six-story, Class A office building in Miami, for an undisclosed price. The 91,285-square-foot asset is located at 6205 Blue Lagoon Drive in the Blue Lagoon Business Park. Ivy Realty purchased the office building, which was 91 percent leased at the time of the sale to tenants such as McAfee, a subsidiary of Intel; Whirlpool Corp.; Travel Traders; Xerox Corp. and Remy Cointreau. Christian Lee, Jose Lobon, Charles Foschini and Chris Apone of CBRE represented New Boston Fund in the transaction. Danet Linares of Blanca Commercial Real Estate assisted CBRE in the transaction.
LATHAM, N.Y. — First Columbia is breaking ground for the development of a two-story office building in Century Hill Plaza business park in Latham. Located at 40 Century Hill Dr., the 30,000-square-foot building will be the seventh out of eleven approved buildings within the 625,000-square-foot office park. Each floor of the building will consist of 15,000 square feet of professional, high-tech space. The building will fulfill demand for Tier 1 properties in the area.
DENVER — Lowe Enterprises Investors (LEI) has acquired Stanford Place II, a 366,184-square-foot office building in Denver for a reported $56.1 million. LEI acquired the Class A building on behalf of an investment client. The 17-story building is located at 7979 Tufts Ave. in the North Denver Tech Center. It is situated at the I-25 and I-225 interchange. The building was constructed in 1982. It is currently 97 percent leased. LEI plans to execute a capital improvements program that will include upgraded building systems, common areas and gathering spaces. Lowe Enterprises Real Estate Group, the firm’s local affiliate, will assume management of the property and oversee the renovation program. Peter Morgan of Lowe Enterprises Real Estate Group represented LEI in this transaction. The seller, TIAA Realty, was represented by HFF’s Mary Sullivan and John Jugl. The firm’s Eric Tuppler assisted in securing debt on the property.
LOS ANGELES –Sunrise Real Estate Group has acquired a107,000-square-foot office building in the West Los Angeles submarket of Brentwood for $39 million. The Class A building is located at 12301 Wilshire Blvd. The building is currently 75 percent leased. Notable tenants include Open Road Films and Opus Bank, as well as several dentists and dermatologists. The property recently underwent a $5.5-million capital improvement program that was executed by the seller, TPMC Realty Corp. The building will be operated by SRG Management, a subsidiary of Sunrise Real Estate Group. Sunrise acquired the building in partnership with Robhana Group and 4M Investment Corp. The buyers were represented by Ali Bararsani of Newmark Grubb Knight Frank. TPMC represented itself in this off-market transaction.