TWINSBURG, OHIO — The Cooper Commercial Investment Group has brokered the $4.1 million sale of an office building in Twinsburg, 25 miles southeast of Cleveland. The office building, located at 2500 E. Enterprise Parkway, is fully occupied by Experient, a Maritz Travel Co. The office building includes four acres of additional land that can be used for future expansion. The parent company and lease guarantor, Maritz, signed an early extension with a seven-year, absolute triple-net lease. Dan Cooper of the Cooper Commercial Investment Group represented the seller, a Cleveland-based private investor. A New York-based private investment group purchased the property. The asset traded at an 8.66 percent capitalization rate at more than $159 per square foot. Experient has eight other offices in the country. The Twinsburg office will serve as the company’s headquarters. The company employs 1,350 people with approximately 100 employees in Twinsburg.
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PORTLAND, ORE. — Swift Realty Partners has acquired the Executive Building, a 104,630-square-foot office building in Downtown Portland, for $21.1 million. The Class A building is located at 811 SW 6th Ave. The Executive Building is situated at the intersection of Portland’s main MAX light rail lines, near Interstates 5 and 84 and Highway 26. The property is also near amenities like the Pioneer Place Shopping Center and The Nines Hotel. The building is 91.4 percent leased to three tenants, including J.P. Morgan Chase and the State of Oregon Department of Environmental Quality (DEQ). The seller, The Matteson Companies, was represented by HFF’s Nick Kucha and Michael Leggett.
WEST DUNDEE, ILL. — The Opus Group has entered into a contract with King Shan LLC to build 45,000 square feet of new industrial and office space next door to King Shan’s existing facility in West Dundee, approximately 40 miles northwest of Chicago. The property is located at the intersection of Weseman Drive and Higgins Road.Opus constructed King Shan’s existing 35,000-square-foot facility in 2010. The new space will allow King Shan, a manufacturer of steel wire and metal fabrication products, to expand its production and distribution operations. The facility, which will be built directly adjacent to King Shan’s current facility, will feature approximately 41,000 square feet of warehouse space with 24-foot clear height ceilings, as well as 4,000 square feet of office space. The two facilities will be linked via a graded driveway, ensuring optimal integration and functionality. Construction will begin this fall, with completion slated for January 2015. Opus Design Build LLC is the project’s design-builder. Opus AE Group LLC is the architect and engineer of record. Noel Liston of Darwin Realty and Development represented King Shan and Opus in the transaction.
BLOOMINGTON, MINN. — Doran Cos. has purchased a 34,649-square-foot, three-story office building in Bloomington for $2.2 million. Paramount IV LLC sold the property to the Bloomington, Minn.-based general contracting, development and management company. Various Doran entities currently occupy 10,970 square feet in the office located at 7803 Glenroy Road. Other tenants include United Sugars Corp. and several small businesses, including S.S.C. Technologies Inc., Consultis of MN Inc., Selective Site Consultants Inc., and Pennant Co. The building is 80 percent leased. Doran Co. will add a building monument sign along West 78th Street that will identify building tenants. It will also complete extensive interior and exterior renovations to the property. Some of the renovations include new HVAC systems, parking garage improvements including heat and ventilation, upgrades to the elevators, improved restrooms, a new building conference room and more.
PORTLAND, ORE. – A 49,946-square-foot office building has sold to Swift Real Estate Partners for $8.5 million. The building is located at 811 SW Naito Parkway. It sits on the waterfront of the Portland Central Business District. The property was built in 1982 and renovated in 2013. The seller, ATC Partners LLC, was represented by HFF’s Nicholas Kucha and Michael Leggett.
CHANDLER, ARIZ. — Crown Castle International has leased 70,000 square feet of Class A office space in Chandler. The property is located off Loop 202. The shared wireless infrastructure provider will occupy the space next July. The landlord, LGE Design Build, represented itself in this transaction. Crown Castle was represented by Keith Lambeth, Todd Noel and Ryan Timpani of Colliers International.
SANTA CLARA, CALIF. – Computer Associates has leased 53,716 square feet of space at Santa Clara Towers. The two-building, Class A campus is located at 3965 Freedom Circle in Santa Clara. The landlord, Shorenstein, was represented by Phil Mahoney, Randy Gabrielson and Mike Saign of Cornish & Carey Commercial Newmark Knight Frank.
BELLEVUE, WASH. — Hitachi has expanded its footprint at Bellevue Technology Center by leasing 35,000 square feet of space. The center is located in the eastside submarket of the Puget Sound region. It is 83 percent leased. Hitachi was represented by JLL’s Ryan Atkinson, Chris Hughes and Steve Schwartz. The landlord, KBS Strategic Opportunity REIT, was represented by JLL’s Mark Flippo and JJ Shepard.
VANCOUVER, WASH. – BergerABAM has leased 8,000 square feet of office space in downtown Vancouver. The property is located at 210 E 13th Street. The engineering and environmental firm will be relocating from nearby 1111 Main Street. BergerABAM was represented by Eric Turner of Cresa. The landlord, Block 56 LLC, was represented by JLL’s Tom Shimota and John Lee.
FORT WORTH — CBRE has arranged $58 million in financing for Chesapeake Plaza, a 20-story, Class A office building in Fort Worth. CBRE worked on behalf of the borrower, Hines, while BBVA Compass provided the floating-rate loan. Chesapeake Plaza is a 460,000-square-foot office building with on-site amenities including a gym, café and dining area. The property was built in 2004 as the corporate headquarters for Pier 1 Imports. The seller, Chesapeake Energy, bought the building in 2008 during a time it acquired interests in the Barnett Shale. As part of the sale, the property will be renamed the Pier 1 Imports Building. Greg Greene and Scott Lewis with CBRE’s Dallas office worked on the loan.