MIAMI — GrayRobinson, a law firm with 280 attorneys and 11 offices in Florida, is relocating its Miami office to Wells Fargo Center in downtown Miami. Wells Fargo Center is a 750,000-square-foot, Class A office tower located near Interstate 95 and Brickell Bridge. Taylor & Mathis signed the law firm to a 35,358-square-foot office lease on the 31st and 32nd floors. GrayRobinson is expected to move into its new office space in January 2015. Brian Gale and Ryan Holtzman of Taylor & Mathis represented the landlord, MetLife, in the lease transaction. Barbara Liberatore Black of Cresa South Florida represented GrayRobinson.
CLEVELAND, OHIO — Columbia Property Trust Inc. has signed a 15-year lease with BakerHostetler for 115,615 square feet of space at Key Tower in downtown Cleveland. BakerHostetler, a global law firm, will lease five floors of the 57-story office tower beginning in January 2016. Columbia Property Trust has owned the Class-A office tower and attached 10-story historic building since December 2005. The 1.3-million-square-foot property also serves as the namesake headquarters of KeyCorp., the holding company for KeyBank, which in 2013 signed a 15-year lease extension for 37 percent of Key Tower. Jerry Banks and Darik Afshani, vice presidents of asset management at Columbia Property Trust, and Douglas Miller, Cindy Greiner and John Klayman of Jacobs Real Estate Services, represented Columbia Property Trust in the transaction. Sherry Cushman of Cushman & Wakefield and Doug Leary of CBRE represented BakerHostetler.
BROOKLYN CENTER, MINN. — Grandbridge Real Estate Capital has closed the $1 million sale of Brookdale Towers, a 61,853-square-foot office building in Brooklyn Center, a northern suburb of Minneapolis. Tony Carlson of Grandbridge Real Estate Capital represented the seller, an institutional lender, which had previously foreclosed on the property. Carlson also arranged the acquisition financing for a local buyer. The property was 25 percent occupied at the time of the sale. The new owner plans to improve the property by addressing deferred maintenance and enhancing building aesthetics.
AUSTIN, TEXAS — Marcus & Millichap has brokered the sale of The Jefferson, a 97,552-square-foot office building in Austin. The property is occupied by healthcare and other professional tenants including Seton Healthcare, which leases 24 percent of the facility, and Austin Radiological Association, which leases 14 percent of the facility. Located at 1600 W. 38th St., the building is in proximity to three area hospitals, including Seton Medical Center, Seton Shoal Creek Hospital and Heart Hospital. John Smelter of Marcus & Millichap represented the seller, Velocis Jefferson LP. Healthcare Realty Trust Inc. purchased the asset at a cap rate of approximately 7 percent.
SAN ANTONIO — USAA Real Estate Co. and development partner Patrinely Group LLC have broken ground on WestRidge One at La Cantera, a 128,000-square-foot office building in northwest San Antonio. The Class A facility, designed for LEED Silver certification, is slated for completion in the fourth quarter of this year. Crimson Services LLC will oversee leasing and property management at the property, while Travis Commercial Real Estate serves as local listing broker. USAA Real Estate Co. is the master developer of the larger La Cantera complex, which includes a 500-room resort, The Shops at La Cantera retail facility and a planned multifamily property, The Residences at La Cantera.
MENOMONEE FALLS, WIS. — Irgens has sold the Actuant Corp. headquarters building, an 81,503 square foot, single-tenant office building located in Menomonee Falls for $15.4 million. Actuant Menomone LLC, a real estate investment group, purchased the Class A building. Daniel Herrold of the Stan Johnson Co. represented Irgens in the transaction. Bradley Feller, also of the Stan Johnson Co., represented the buyer.
FARMERS BRANCH, TEXAS — Boxer Property has acquired The Centre, an 817,000-square-foot office complex in the northern Dallas suburb of Farmers Branch. Comprised of 11 buildings, the property is located at the corner of Alpha and Midway roads, in close proximity to the Lyndon B. Johnson Freeway. The campus includes a lake and fitness center and is within walking distance of an upscale hotel. Houston-based Boxer plans to redevelop portions of the complex by incorporating its open Workstyle office designs.
COLORADO SPRINGS, COLO. — Patriot Equities has acquired a 1.2-million-square-foot office portfolio in Colorado Springs for a reported $160 million. The portfolio contains a total of 15 Class A office buildings, including eight multi-tenant and seven single-tenant structures. The properties are more than 90 percent leased. The seller, Corporate Office Properties Trust, was represented by Cushman & Wakefield.
SAN JOSE, CALIF. — USAA Real Estate Company has purchased America Center, a 430,852-square-foot office campus in San Jose, and its adjacent development site, for an undisclosed sum. The campus is located at 6001 America Center Drive. Phase I of the development was completed in 2009. It contains two office buildings that are 83 percent leased. Notable tenants include Polycom and Flextronics, which are both headquartered there. Phase II calls for a pair of 213,800-square-foot office buildings. USAA will team up with Legacy Partners, America Center’s original developer, on this second phase of development. The site is entitled and shovel-ready.
ORLANDO, FLA. — KBS Strategic Opportunity REIT, a public non-traded REIT based in Newport Beach, Calif., has purchased Maitland Promenade II, a 230,366-square-foot, Class A office building in Orlando’s Maitland submarket. The REIT acquired the five-story property, located at 495 N. Keller Road, for $31.2 million. The building is 77.2 percent leased to tenants including Star Networks, United Healthcare, Zurich Insurance, Akerman, Senterfitt and Edison and New York Life.