SUN CITY, ARIZ. — La Ronde Centre, a 106,503-square-foot retail property in Sun City, has sold to an unnamed buyer for $8 million. The center is located at 14656 North Del Webb Blvd. The buyer was represented by Colin Brown of Transwestern. The seller, an LLC, was represented by Sanford Burstyn of Marcus & Millichap’s Phoenix office.
Office
AUSTIN — Construction is underway on Mesa Oaks, a new Class A office building in Southwest Austin. The development will consist of seven buildings ranging in size from 9,300 square feet to 20,150 square feet. The complex will be located directly off William Cannon Drive and Highway 290. The project had stalled for several years under previous ownership. Equitable Commercial Realty is handling the sale and leasing of Mesa Oaks. Upon completion, the project will include 104,000 square feet.
ATLANTA — Atlanta-based Glenfield Capital has purchased a combined 400,000 square feet of office space in five properties in metro Atlanta for an aggregate purchase price of $37.5 million. The portfolio includes 100,000 square feet at 6465 E. Johns Crossing in Johns Creek; 100,000 square feet each at 6525 and 6575 The Corners Parkway in Peachtree Corners; and 50,000 square feet each at 6025 and 6075 The Corners Parkway in Peachtree Corners. Tenants at these properties include Sprint, Anheuser-Busch, Toshiba and TW Telecom. Glenfield Capital has selected CBRE to handle property management for the portfolio. Glenfield has also selected Adam Viente of JLL to lease the Peachtree Corners assets and Michael Howell and Hunter Henritze of Lincoln Property Co. to lease the Johns Creek building.
LAS VEGAS — Tierra Partners III LLC has acquired LaPour Corporate Center, a 70,188-square-foot office building in Las Vegas, for $17.3 million. The Class A building is located at 9075 W. Diablo Drive. The three-story office building is situated next to the 215 Beltway between Russell Road and Tropicana Avenue. It is fully occupied by tenants like Chicago Title, NV Energy, KGA Architecture and State of Nevada Public Utilities Commission. Tierra Partners was represented by Greg Tassi of CBRE Las Vegas. The seller, LaPour 215 LLC, was represented by Charles Moore, Marlene Fujita Winkel and Ashley Kolaczynski of the same firm.
WALTHAM, MASS. — New Boston Fund Inc. has sold Watermill Center in Waltham, a suburb of Boston. Intercontinental Real Estate Corp. purchased the property for an undisclosed sales price. Constructed in 1984, Watermill Center is a six-story, 206,634-square-foot, Class A office building. Since purchasing the property in March 2000, New Boston has boosted the occupancy from 67 percent to 90 percent, with 150,000 square feet having been leased in the past nine months. Additionally, New Boston completed extensive upgrades and improvements to enhance the building’s entrance and main lobby, and has added several amenities. Robert Griffin, Edward Maher and Matt Pullen of Cushman & Wakefield represented New Boston in the transaction.
FARMINGTON HILLS, MICH. — L. Mason Capitani/CORFAC International has arranged the sale of a 38,000-square-foot office/flex property in Farmington Hills. The asking price for the property was for approximately $3.9 million, but the final sales price was undisclosed. The property is located at 27675 Halsted Road. JOT II LLC, a local investor, purchased the property from the seller, Halsted Investments, LLC. Michigan-based L. Mason Capitani collaborated with TRI Commercial, its CORFAC affiliate in San Francisco, Calif., to list and market the property.
CHICAGO — J.C. Anderson Inc. has completed an office build-out for The Camden Group at 29 N. Wacker Drive in Chicago. The firm, which provides management and consulting services to the health care industry, is relocating its Chicago offices from 155 N. Wacker Drive to this location. The 9,000 square foot build-out on the 10th floor includes conference rooms, private offices and a server room. The office also features exposed ceilings, new light fixtures, luxury vinyl tile flooring with wood planking, mechanical and electrical upgrades and new flooring. William Burfeind of J.C. Anderson was the project executive and Jason Hawkins of J.C. Anderson was the project manager. Horn Design provided architectural services.
LOMBARD, ILL. — NAI Hiffman has arranged an office lease of 16,691 square feet in Lombard. Veolia Water Solutions will occupy the space within the Butterfield Centre located at 700 East Butterfield Road. The property consists of two class A buildings totaling 280,672 square feet and includes covered parking, a conference facility with auditorium, a food service area and fitness center. Mike Van Zandt and Brian Edgerton of NAI Hiffman’s Office Services Group represented Travelers Insurance in the transaction. David Tropp and Jon Springer of CBRE represented Veolia Water Solutions.
LOS ANGELES – A 19,750-square-foot creative office property in Los Angeles has sold to the American Musical and Dramatic Academy, College of the Performing Arts (AMDA) for $10 million. The building is located at 1641 Ivar in Hollywood. The space used to host the Bob Hope USO Special. The seller, boutique production firm Hello and Company, was represented by Martin McDermott of Avison Young. The firm will occupy the entire space. AMDA was represented by Christopher Bonbright, John Tronson and David Landau of the same firm. AMDA’s financing was also arranged by the firm’s Nick Roussos.
PLANO, TEXAS — Guardian Life Insurance Co. of America has opened a new facility in Plano, just north of Dallas. The office is located at 5850 Granite Pkwy. The facility will serve as Guardian’s Absence and Disability Management Solutions Center. Guardian is a mutual insurer founded in 1860 providing coverage to employees at more than 115,000 companies.