AUSTIN, TEXAS — Whiddon Development Inc. has acquired a 14,000-square-foot office building in Austin. The property is located on more than four acres at 1005 E. St. Elmo St., and Whiddon plans to build out the site as an approximately 70,000-square-foot business park consisting of several freestanding buildings. Blair Helgren of Woodland Property Group represented the buyer, and Jonathan Stilley of SBR Associates represented the unnamed seller.
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SAN DIEGO – Convoy Business Center, a 27,909-square-foot office building in the San Diego submarket of Kearny Mesa has sold to Central Data Services for $3.8 million. The building is located at 7071 Convoy Court. It was built in 1973 and renovated in 2012. It was about 63 percent leased at the time of sale. Central Data was represented by Jon Boland and Garrett Fena of Voit Real Estate Services. The seller, Self Procured Properties, was represented by CBRE’s Paul Lafrenz and Melissa Foster.
WASHINGTON, D.C. — HFF has arranged the sale and acquisition financing for a 31,340-square-foot office building located at 450 H St. N.W. in Washington, D.C. The office building is fully leased to the District of Columbia’s Department of Youth Rehabilitation Services for the next 11 years. Dek Potts, Andrew Weir, Jim Meisel, Steve Conley, Matt Nicholson and Dave Baker of HFF represented the seller, Brookfield Real Estate Opportunity Fund, an affiliate of Brookfield Asset Management. Dan McIntyre of HFF arranged the 10-year acquisition loan through a CMBS lender on behalf of the buyer, an affiliate of Harbor Group International. The buyer plans to remodel the property in the second quarter in hopes to achieve LEED certification.
CHICAGO — Reed Construction has completed 16,000 square feet of speculative office suites in Chicago’s Wrigley Building for Zeller Management Corp. The 502,000-square-foot property is located at 400 N. Michigan Ave. The build-out on the 7th floor of the building included the construction of walls, ceilings and glass office fronts. The divisible space features open workspace, private offices, conference rooms and pantries. Jason Gunderson was the senior project manager for Reed Construction. Griskelis Young & Harrell provided the architectural services. Zeller Realty Group is the leasing agent for the property. The Wrigley Building was constructed in 1921.
BROOKFIELD, WIS. — The Boulder Group has brokered the $2.4 million sale of a single-tenant, PNC Bank ground lease in Brookfield approximately 12 miles east of Milwaukee. The property is located at 12821 W. Bluemound Road. PNC Bank is the sole occupant of the recently constructed 4,020-square-foot retail building. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the buyer, a private investor from the West Coast, and the seller, a Midwest based developer.
HOUSTON — HFF has brokered the sale of 9801 Westheimer, a 211,125-square-foot office building in Houston’s Westchase submarket. The 11-story property was 86 percent leased at the time of the sale and includes a three-level parking structure. Located on the south side of Westheimer Road between Gessner and Elmside drives, the building is in close proximity to the Sam Houston Tollway, the Westpark Tollway and I-10. Dan Miller and Martin Hogan of HFF marketed the asset on behalf of the seller, Younan Properties Inc., and also procured the buyers, Fuller Realty Partners LLC and Harbert US Real Estate Fund V.
PHOENIX — The Leona Group has leased 15,054 square feet at Catalina Terraces in Phoenix. The Class A office building is located at 7878 North 16th Street. The Leona Group, which provides services to charter schools, will use the space for its corporate headquarters. It was represented by Justin Himelstein of Cassidy Turley. The landlord, Catalina Terraces Operating Associates, a company formed by Rosemont Realty, was represented by Phil Breidenback, Keith Lambeth, Lindsey Carlson and Ryan Timpani of Colliers International.
FORT LAUDERDALE, FLA. — Brookwood Financial Partners LLC has acquired Comerica Tower, an 11-story office property in Fort Lauderdale’s central business district, for $32.5 million. Brookwood purchased the 166,098-square-foot asset from Beacon Investment Properties LLC. Comerica Tower was 82 percent occupied at the time of the sale. Christian Lee, Jose Lobon, Charles Foschini, Chris Apone, Deanna Lobinsky and Travis Herring of CBRE represented Beacon in the sale. Jonathan Kingsley of JLL also represented the seller in the transaction.
KNOXVILLE, TENN. — Knoxville-based Wood Properties has arranged a 30,000-square-foot lease at an office building south of downtown Knoxville. Brad Blackwell and George Brown of Wood Properties represented the landlord, Airport Office Partners, in the lease deal. The tenant, K12 Management Inc., will open a family support campus at the office building, which will bring roughly 300 jobs to the area.
SOUTHFIELD, MICH. — Bernard Financial Group has arranged a $2.2 million loan for the Vanguard Office Building in Southfield. The 115,000-square-foot office building is located at 23800 W. 10 Mile Road. Kevin Kovachevich of Bernard Financial originated the loan for the borrower, Vanguard Owner LLC. Bloomfield Capital Partners LLC is the lender.