RICHMOND, VA. — Cushman & Wakefield | Thalhimer has brokered the $40.7 million sale of 11 office buildings in Richmond’s Innsbrook submarket. The 359,000-square-foot portfolio was sold in two separate transactions to two buyers. Westdale Real Estate Investment and Management purchased West Shore I, II and III, as well as Grove Park I in the Concourse at Wyndham development located off of Nuckols Road. Lingerfelt Cos. purchased the remaining assets in Innsbrook Corporate Center, including Vantage Pointe, Vantage Place A-D and Technology Park I and II. Eric Robinson of Cushman & Wakefield | Thalhimer’s Richmond office represented the unnamed seller in both transactions.
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PLYMOUTH, MASS. — Burlington, Mass.-based KeyPoint Partners has opened a satellite office at Colony Place in Plymouth. The commercial real estate service firm, which manages Colony Place, has moved its staff and services to the existing management office at the center from its former Middleboro, Mass., office. Located off Route 44 near Route 3, the largest open-air shopping center southeastern Massachusetts offers more than 850,000 square feet of retail space. The tenant roster includes Walmart, Dick’s Sporting Goods, DSW, Best Buy, Bed Bath & Beyond, ULTA, Talbots and LOFT, among others.
NEWARK, N.J. — Newark Regional Business Partnership (NRBP) has relocated its headquarters to The Berger Organization’s Military Park Building in Newark. NRBP has signed a long-term lease to occupy 10,000 square feet at the 21-story, 250,000-square-foot office building. The non-profit organizations sharing NRBP’s space include: Greater Newark Enterprises Corp., The Nicholson Foundation, Newark Alliance and ReServe. Jones Lang LaSalle represented NRBP in the lease negotiations.
INDIANAPOLIS — Lauth Group Inc. will provide general construction services for the demolition and build-out of a new headquarters for Schwarz Partners LLC in Indianapolis. The box manufacturing company selected Lauth to complete a 17,500-square-foot build-out on the third floor at the Woodview Trace Building located at 3600 Woodview Trace. Lauth is a management owned, full-service real estate firm with expertise in development, construction, property management, facilities management and acquisitions.
SAN DIEGO – A 3,500-square-foot building in San Diego that served as the offices for Teamsters Local 683 has sold to SDPB Holdings for $1.3 million. The building was located at 2731 B Street. SDPB plans to redevelop the 22,000-square-foot lot as a residential property. The Teamsters had used that space for administrative offices and meeting space for more than 70 years. The organizations will relocate to a 19,000 square foot office building in El Cajon in the next 12 months. That acquisition was valued at $1.9 million. Marc Frederick of Colliers International represented both the buyer and seller in this transaction.
HOUSTON — NAI Houston has arranged the sale of a 12,500-square-foot office/warehouse located at 15180 Nautique Way in the Southbelt Industrial Park. The one-acre property is in Houston’s industrial southwest corridor. Clay Pritchett and Michael Keegan of NAI Houston represented the seller, Pampas Building LLC. Josh Morrow & Jeremy of Stream Realty Partners represented the buyer, Pamarco Realty LLC.
HOUSTON — HFF has arranged the sale of 3040 Post Oak Blvd., a 427,486-square-foot, Class A office building in Houston. HFF marketed the property on behalf of the seller, a joint venture between an affiliate of Five Mile Capital Partners LLC and Crocker Partners. MetLife Real Estate Investors purchased the property for an undisclosed amount. The property is located at the intersection of Post Oak Boulevard and Hidalgo in Houston’s Galleria/Uptown district. The 22-story building is part of the 1.2 million-square-foot Lakes at Post Oak office complex. Jeff Hollinden, Dan Miller and Trent Agnew with HFF represented the seller.
ATLANTA — KBS Real Estate Investment Trust III (KBS REIT III) has acquired a 21-story trophy office tower located at 171 17th St. in Atlanta’s Midtown submarket for $132.5 million. The tower is part of the larger 5.6 million-square-foot Atlantic Station mixed-use development. KBS REIT III purchased the Class A asset from JP Morgan. The 509,237-square-foot property was 89 percent leased at the time of the sale and was the world’s first LEED Silver Core & Shell-certified high-rise building, according to KBS.
PLANTATION, FLA. — A pension fund advised by LPC Realty Advisors I LP, an affiliate of Lincoln Property Co., has purchased the Royal Palm office complex in Plantation from Duke Realty for $128 million. The Class A property consists of two buildings totaling 465,592 square feet. Lincoln Property has been retained to manage Royal Palm, which features amenities such as an on-site café, conference training center and a gym with locker room facilities. The site has two, four-level parking garages and 400 surface parking spaces. Lincoln Property has selected Blanca Commercial Real Estate to lease the project.
BOSTON — HFF (NYSE: HF) has secured financing totaling $240 million for One Channel Center and the Channel Center Garage, a 501,650-square-foot, newly built office building and 967-space parking garage in Boston’s Seaport District. HFF represented the borrower, a venture between affiliates of Ares Management LLC and CV Properties LLC. The financing was structured as a $190 million first mortgage loan and a $50 million mezzanine loan. The loans will be used to refinance the construction loan on the property. One Channel Center, designed by the architectural firm of ADD Inc. in collaboration with Spalding Tougias Architects, was completed in June 2014. HFF also arranged the $170 million construction loan for the property in 2012. The 11-story One Channel Center is leased entirely to State Street Corp., an international financial services company. One Channel Center and the Channel Center Garage are located within the larger Channel Center master-plan area, a 2.1 million-square-foot mixed-use neighborhood combining office, luxury residential and street-front retail and restaurants. Channel Center is anchored by a series of landscaped parks that include the 1.7-acre Channel Center Park. Anthony Cutone, managing director, and Brett Paulsrud, senior real estate analyst, led the HFF debt placement team.