CHICAGO — Equus Capital Partners Ltd. has sold 200 S. Michigan Ave., a 357,777-square-foot office building in Chicago for $69 million. The building was 89 percent occupied at the time of sale. Bruce Miller and Nooshin Felsenthal of Jones Lang LaSalle represented the seller in the transaction. Current tenants at the 22-story building include RTKL Associates, Howard & Howard Attorneys and Johnson Publishing Co., Starbucks Coffee, Potbelly Sandwich Works and Panda Express.
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BELVIDERE,ILL. — Technical Maintenance Inc. (TMI) has signed a 6,400-square-foot lease at 3248-3250 Forest View in Belvidere, located about 13 miles east of Rockford, Ill. TMI is a full-service laboratory that calibrates and repairs test and measurement equipment. The company is adding its Rockford office to service its customers in Chicago and the surrounding areas. AJFC Inc. is the landlord. Karen Walsh, vice president at CBRE, represented TMI in the transaction.
SADDLE BROOK, N.J. — CBRE Group Inc. has arranged $38 million in refinancing for a fully leased office building in Parsippany. James Gunning, Donna Falzarano and Evan Kleppe of CBRE secured a 10-year loan at a 5 percent interest rate through Relius Financial on behalf of the borrower, Jeffroad Green LLC. The loan was secured by a 206,155-square-foot suburban office building located at 399 Jefferson Road.
LIVINGSTON, N.J. — A new five-story parking garage is nearing completion at Eisenhower Corporate Campus and Conference Center in Livingston. The new structure will provide 600 additional parking spaces for tenants and guests at the 380,000-square-foot, Class A office complex. Eastman Cos. and its joint venture partner Long Wharf Real Estate Partners owns and manages Eisenhower Corporate Campus. The new parking structure will offer LED lighting and enhanced security features, according to Michael Schofel, co-managing partner at Eastman Cos.
AUSTIN, TEXAS — Investment firm CIM Group and Seaholm Power LLC have leased 103,000 square feet of office space at the Seaholm Power Plant in Austin to athenahealth. The tenant, a provider of cloud-based services for the healthcare industry, will fully occupy the office portion of the property, which is being repurposed as part of a mixed-use development. Renovations to the space for athenahealth are slated for completion in mid-2014, with construction of additional elements of the project extending into 2015. The Seaholm Power Plant redevelopment site is bounded by Cesar Chavez Street, West Avenue, 3rd Street and the A&NW rail line in downtown Austin.
JACKSON, MISS. — The Jackson office of law firm Baker, Donelson, Bearman, Caldwell & Berkowitz has leased the top three floors of a 120,000-square-foot office building at The District at Eastover, a mixed-use development in Jackson. The law firm signed the lease with owner The District Land Development Co. Demolition of the old buildings and underground infrastructure is now complete, including crushing the concrete of the old buildings, which will be used for road and parking lot bases throughout the new development. Mass grading, subgrade, road and new infrastructure work will commence at the end of March, and foundation work for Phase I will begin approximately 45 days thereafter. The District at Eastover The design team for the property includes architect Nelsen Partners and developer Holder Properties.
NEW LENOX, ILL. — DaVita Inc. has signed a second lease for 2,631 square feet in Pavilion A at the Silver Cross Hospital campus in southwest Chicago. NexCore Group developed, leases and manages the 182,000-square-foot Pavilion A, an outpatient facility that connects to the $270 million replacement hospital. DaVita Inc. will occupy space on the fourth level of the building for one of its home dialysis training centers, which will open in July 2014. DaVita also provides outpatient dialysis services at Pavilion A in the 7,000-square-foot infusion center on the first level
DALLAS — Colliers International has brokered the sale of Preston Plaza, a 261,186-square-foot office tower in north Dallas. Located at 17950 Preston Road, the Class A property stands 10 stories and is in proximity to President George Bush Turnpike, Dallas North Tollway and I-75. Jack Minter, Creighton Stark and Ben Lurie of Colliers represented both the seller, Granite Properties, and buyer, Caddo Holdings, in the transaction.
PORTLAND, ORE. – Law firm Bodyfelt Mount LLP has leased 7,663 square feet of space at The Spalding Building in Portland. The historic building is located at 319 SW Washington Street. The law firm will occupy the new space this summer after it relocates from its current space, just a few blocks away. It was represented by Andrew Rosengarten and Buzz Ellis of Jones Lang LaSalle. The landlord, Manchester Capital and Urban Renaissance Group, was represented by Greg Gonzalez and Joe Beehler of Colliers.
MAITLAND, FLA. — Crocker Partners has acquired a 174,048-square-foot office building located at 851 Trafalgar Court in Maitland, a northern suburb of Orlando. The property is currently 80 percent leased to tenants including Sprint/Nextel, Rasmussen College and Digital Risk. Crocker Partners will manage the property and CBRE will handle the building’s leasing responsibilities. The property will undergo a capital improvement program that will enhance the building’s elevator systems, signage and common area finishes. Including this acquisition, Crocker Partners owns more than 3.2 million square feet of office space in Florida.