SAN ANTONIO — Stream Realty Partners has broken ground on a Class A office project in San Antonio, Lockhill Crossing. The development will consist of a five-story, 126,626-square-foot office building at the corner of Lockhill Selma Road and Loop 1604. The building is situated on approximately 17 acres, and offers a 4.2 per 1,000-square-foot parking ratio with executive covered parking egress and ingress from Loop 1604 and Lockhill Selma Road, highway visibility, monument signage opportunities, Class A finishes and energy efficient systems and materials. Stream Realty has leased 16 percent of the development to two undisclosed tenants. The building is scheduled to be completed in the second quarter of 2015. Stream Realty will lease and manage the project.
Office
MONTEBELLO, N.Y. — Mack-Cali Realty Corp. has completed the disposition of 400 Rella Blvd. in Montebello for $28.3 million. The three-story, 195,375-square-foot office building, which was Mack-Cali’s sole asset in Rockland County, N.Y., was 75.8 percent leased at the time of sale. Jeffrey Prezant of Cushman & Wakefield represented Mack-Cali in the transaction.
HOUSTON — Global Transportation has leased 10,719 square feet at the Norfolk Tower building, located at 2211 Norfolk St. in Houston. Griffin Jaggard and Terri Torregrossa of Moody Rambin represented the building owner, The Realty Associates Fund IX LP. Phil Arnett represented Global Transportation in negotiations.
LOS ANGELES — Face First has signed a five-year lease for 6,331 square feet at LC3: Lindero Canyon Creative Campus in the Los Angeles submarket of Westlake Village. The creative office campus is located at 31416 Agoura Road. Face First was represented by Ryan Harding of Newmark Grubb Knight Frank. The landlord, Agoura and Lindero Associates LLC, was represented by CBRE’s Michael Slater and Tom Dwyer. LC3 was only 36 percent occupied when it was originally purchased by the LLC in late 2012. The occupancy rate now stands at 95 percent.
TAMPA, FLA. — Avison Young has brokered the $3.5 million sale of Stadium Executive Center, a 27,503-square-foot, Class B office building in Tampa. The two-story property is located at 4107 Himes Ave. Trey Carswell and Lauren Coup of Avison Young represented the seller, RMS Assets LLC, in the transaction. The buyer, Roche Surety & Casualty Co. Inc., will occupy the second floor of the property and maintain three leases on the first floor.
ALPHARETTA, GA. — KBS Real Estate Investment Trust (KBS REIT I), a non-traded REIT based in Newport Beach, Calif., has signed a new tenant to a 14,701-square-foot lease at its Great Oaks Center office park in Alpharetta. Ben Parker of Avison Young represented the tenant, Star & Shield Services LLC, in the lease transaction. Elliott Grand and Jeff Keppen of CBRE represented KBS REIT I. Great Oaks Center is located at 11560 Great Oaks Way.
HUNTLEY, ILL. — Janko Group has acquired Regency Executive Center, a two-story, 35,000-square-foot medical office building in Huntley, an outer suburb northeast of Chicago. The building located on Regency Parkway is 41 percent leased to 10 tenants. Regency Executive Center is less than two miles north of the recently completed four-way interchange at I-90 and Route 47. The property was built in 2001. Ted Buenger and Dan Bessey of CBRE represented the undisclosed seller in the transaction. Janko Group will manage the property.
SECAUCUS, N.J. — River Drive Construction has been selected to build out the new offices of The RealReal, an authenticated luxury resale marketplace. The retailer will occupy the entire 128,835-square-foot warehouse and office facility located at 35 Enterprise Ave. in Secaucus. River Drive will build out the 10,000-square-foot office portion of the property. Brian Tobiasz, president of Tobiasz Management Co., is overseeing the construction project on behalf of The RealReal.
IRVING, TEXAS — PM Realty Group has brokered a 29,345-square-foot office lease for Hanley-Wood Exhibitions in the Las Colinas Highlands building. The 199,435-square-foot building, located at 6191 N. State Highway 161, is owned by MLCFC 2006-4 Office 6191 LLC. Kurt Cherry, executive vice president of PM Realty, handled the transaction for the owner. Mari Jones, senior director, Billy Gannon, associate director, and Emily Hoffman, senior associate, with Cushman & Wakefield represented the tenant.
GLENDALE, ARIZ. — Zanjero Falls, a 147,405-square-foot office property in Glendale, has sold to a joint venture for $9.1 million. The space is located at 7410 N. Zanjero Blvd. The venture includes Select Healthcare Solutions LLC, Phoenix Cyberknife, and Radiation Oncology Center LLC. The acquisition also includes about 10 acres of developable land. The Class A office development has never been occupied. It is currently configured as eight fully improved lots for future development. Zanjero features a single-story and a three-story office building, both of which are in shell condition. It was built in 2008. The JV was represented by TJ Zaharis of COBE Real Estate. The seller, RCFC Zanjero Falls, was represented by Steve Lindley, Bob Buckley, Tracy Cartledge, Eric Wichterman and Mike Coover of Cassidy Turley’s Capital Markets Group.