DALLAS — Fults Commercial Real Estate has arranged a 21,000-square-foot office lease in Dallas for Medigain LLC, a provider of billing and analytics services for healthcare providers. The tenant will occupy space within the Willow Bend Park complex in the Far North Dallas submarket. Bob Buell, Tracy Fults and Gini Russell of Fults Commercial represented the unnamed property owner. Kurt North of Mohr Partners represented Medigain.
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SAN FRANCISCO – Chinese developer Kylli Inc. has acquired the 583,000-square-foot office building at 225 Bush Street in San Francisco’s Central Business District. This is the largest office sale in San Francisco since 2012, according to Flynn Properties and GEM Realty Capital, two of the building’s owners. The Class A building was originally the headquarters for Standard Oil when it was built in 1922. The 22-story tower is currently 99 percent leased. Notable tenants include Lithium Technologies, Groupon, Zillow, Twitch.tv, Meltwater and RocketSpace. Flynn and GEM originally purchased the building in 2000. The joint venture owned the building with partner Whitehall-Goldman Sachs until 2005. In 2012, the JV partnered with SEB ImmoInvest on the building. GEM and SEB sold their entire stakes in 225 Bush Street as part of the sales transaction. Flynn will remain as an investor in the new joint venture. It will also act as the property manager and leasing agent for 225 Bush Street. JLL identified Kylli as Flynn’s new joint venture partner. The firm also provided support on this cross-border transaction.
MIDDLETON, WIS. — Sperry Van Ness has arranged the lease of 3,605 square feet of office space in Middleton, a northwestern suburb of Madison. Michigan Millers Mutual, an insurance company, will occupy space at 3220 Deming Way. Founded in 1881, Michigan Millers Mutual offers a wide range of property and casualty insurance products for individuals, small and mid-size businesses. Jeff Jansen and Anita Frey of Sperry Van Ness represented the tenant in the transaction. The Blettner Group Ltd. is the landlord.
BOSTON — Integrated Interiors has completed an office installation for Gilbane Building Company’s new headquarters at 10 Channel Center in Boston’s Innovation District. The renovation includes 390 linear feet of prefabricated office and conference fronts for the new 22,000-square-foot space. The project team includes Gilbane as owner and construction manager, Gensler as architect, and Cosentini as M/E/P engineer. Additionally, Environments at Work provided furniture for the new space.
IRVING, TEXAS — Bright Realty has brokered the sale of a 19,038-square-foot flex property in Irving. Located on a 1.5-acre lot at 1915 Westridge Drive, the property includes both office and showroom space. Shawn Hall of Bright Realty represented the buyer, Ibrahim Investments, in the transaction. David Cook of Sperry Van Ness represented the unnamed seller.
LONG BEACH, CALIF. – A creative flex/office building in Long Beach that formerly housed a division of Charter Communications has sold to Lotus Real Estate Partners for $6.1 million. The building is located at 4031 Via Oro. It was built in 1985 and will undergo a complete renovation. The property features 73,000 square feet of office space and 10,000 square feet of warehouse space. Lotus was represented by Clyde Stauff of Colliers. Charter Communications was represented by DTZ’s Scott Becket.
YORBA LINDA, CALIF. — Moreno Insurance has acquired a 22,500-square-foot office building in Yorba Linda for $3.7 million. The building is located at 22860 Savi Ranch Road near Old Canal Street. It underwent a complete renovation in 2009. Moreno was represented by Gary McArdell of Lee & Associates. The seller, CAPA Property Management, was represented by Chuck Wilson and Brian Chastain of Colliers.
PARAMUS, N.J. — Direct Travel has signed a lease for 16,500 square feet of space at Paramus Corporate Center in Paramus. The tenant plans to relocate its regional headquarters from Mahwah, N.J., to the 115,000-square-foot office property, which is located on Route 17, this summer. Rich Mirliss and Anthony Rinaldi of Colliers International represented the tenant in the transaction, while Jeffrey Prezant of Cushman & Wakefield represented the landlord, Gabrellian Associates, in the transaction.
KATY, TEXAS — Freeway Properties has broken ground on Katy Ranch Offices Phase I, a 151,000-square-foot office building in the Houston suburb of Katy. The six-story, Class A structure, which will be part of the Katy Ranch mixed-use complex, will feature 24,800-square-foot floor plates and optical fiber transmission cabling. Located in proximity to I-10 and the Grand Parkway, the project also includes a parking garage that will provide four parking spaces per each 1,000 square feet of the building. LSI is the general contractor, Powers Brown Architects is serving as architect, TAS Engineering Construction is working as the mechanical/electrical/ plumbing engineer, and Griff Jaggard and Kurt Kistler of Moody Rambin will handle leasing of the property. The facility is designed for LEED Gold certification and slated for completion in the first quarter of 2015.
GRAPEVINE, TEXAS — Marcus & Millichap has brokered the sale of a 50,406-square-foot office building in the Dallas/Fort Worth suburb of Grapevine. Automotive Resources International, a global fleet solutions provider specializing in complex car and truck fleets, fully occupies the facility, which is located at 2550 S.W. Grapevine Parkway. The one-story structure is located in proximity to State Highway 114, State Highway 121 and the Dallas/Fort Worth International Airport. Ron Hebert and Michael Lawrence of Marcus & Millichap marketed the asset on behalf of the seller, a partnership between Poynter Scifres and an affiliate of Realty Capital Partners. An outside broker represented the buyer, a California-based investor completing a 1031 tax-deferred exchange.