CHARLESTON, S.C. — Cushman & Wakefield | Thalhimer has arranged the $2.5 million sale of a 24,000-square-foot office building located at 1200 Charleston Regional Parkway in Charleston. Jessen Lane LLC purchased the former NanoScreen Building from Wells Fargo Bank. Mankiewicz LLC, a manufacturer of coating systems for the aviation and automotive industries, will lease space at the property. Mark Erickson of Cushman & Wakefield | Thalhimer represented Wells Fargo in the transaction.
Office
CHICAGO — Lubert-Adler, in a joint venture with The Farbman Group, has sold a 23-story office building in Chicago for $100 million. Beacon Investment Partners LLC partnered with Tel Aviv-based Harel Insurance Investments and Financial Services Ltd. to acquire the 535,911-square-foot building located at 200 W. Monroe St. Lubert-Adler and The Farbman Group acquired the office building in July 2012 for $75 million. The joint venture was able to increase occupancy from 80 to 91 percent. Lead tenants include Select Hotels, Equinox Fitness, and Barcodes Inc. The office tower was built in 1973 and renovated in 2006. Philadelphia-based Lubert-Adler, which invests on behalf of leading national university endowments and state retirement systems, owns five other Chicago properties with The Farbman Group.
LISLE, ILL. — Brennan Investment Group LLC and its joint venture partner Westminster Capital have sold a Class A office property to a private investor for an undisclosed sales price. The Ogden Corporate Center is located at 801-815 Ogden Ave. in Lisle, a suburb approximately 26 miles east of Chicago. The property consists of two single-story office buildings. The buildings are fully leased to three tenants with the majority of space occupied by an affiliate of DuPage Medical Group. Brennan Investment Group purchased the property in 2012.
SAN FRANCISCO – The 106,777-square-foot commercial property in San Francisco that serves as the broadcast and office base of KRON Channel 4 television has sold to a partnership between South Beach Partners and Oryx Partners. The price was not disclosed. The space is located at 1001 Van Ness. KRON has occupied the building since 1967. The station will be relocating to a new facility in North Waterfront later this year, which will allow the new owners to redevelop the property. The seller, Media General, was represented by Daniel Cressman, Mike Taquino and Kyle Kovac of Newmark Knight Frank Cornish & Carey Commercial.
SAN DIEGO — Real Office Centers (ROC) has leased 20,319 square feet of office space in San Diego. The Class A space is located at 101 Broadway. It is slated to open this September. The shared office space provider was represented by Voit’s Doug Killian. The landlord is the Irvine Company.
WASHINGTON, D.C. — Skanska USA Commercial Development Inc. has signed a ground lease with George Washington University to develop on Square 75A, known as the 2100 block of Pennsylvania Avenue. The 25,000-square-foot site, located five blocks from the White House, is approved for a 250,000-square-foot, LEED Gold-certified office building with 7,000 square feet of ground-floor retail space. Skanska, which will self-finance the project, will serve as the office building’s developer and general contractor. San Francisco-based Gensler will design the Class A office building. Square 75A is one of the last significant development sites along Pennsylvania Avenue, according to Skanska.
FARMINGTON HILLS, MICH. — L. Mason Capitani has brokered the sale of a two-building office complex in Farmington Hills. The Westridge Office Center spans 18,412 square feet. The office complex was 78 percent leased at the time of sale. California-based investor LSTC California LLC purchased the property. The asking price for the property was approximately $1.4 million, but the final sale price was undisclosed.
WALTHAM, MASS. — Equus Capital Partners, through one of its affiliates, has recapitalized University Office Park in Waltham, a suburb of Boston. The two-building, 288,127-square-foot office park was 87 percent occupied at the time of closing. Equus and Direct Invest LLC worked to restructure and recapitalize the previous tenant-in-common ownership structure. In addition to its preferred equity infusion, Equus also acquired more than 25 percent of the ownership interests in the buildings. The property will be managed by affiliates of Equus. The acquisition of the leasehold interest in University Park was made on behalf of BPG Investment Partnership IX, Equus’ $310 million private equity fund.
ROCHELLE PARK, N.J. — Houlihan-Parnes Realtors has arranged a $14 million first mortgage on a five-story office building located at 218 Route 17 North in Rochelle Park. The loan includes a fixed-rate portion and provides a line of credit at a floating rate for build-outs. Located on the southeast corner of Route 17 North and West Passaic Street, the property was acquired by members of Houlihan-Parnes Realtors in 2002. Recently, Bergen County Social Services signed a lease to occupy 55,000 square feet at the 103,605-square-foot office building. Andrew Greenspan, James Houlihan and Meghan McEvoy of Houlihan-Parnes arranged the financing. Elizabeth Smith of Goldberg, Weprin, Finkel, Goldstein LLP represented the borrower, while Raymond Cohen of Chicago Title Insurance provided the title. GHP Office Realty LLC, an affiliate of Houlihan-Parnes Realtors, manages the building.
HOUSTON — HFF has brokered the sale of Oak Park Office Center III, a 151,000-square-foot office building in Houston’s Westchase district. Completed in 2008, the two-story structure is located between Rogerdale Road and Beltway 8, within the 225-acre Oak Park at Westchase business park. Global engineering firm CB&I Inc. holds the lease for the entire property. Robert Williamson and Trent Agnew of HFF marketed the asset on behalf of the seller, Daymark Realty Advisors. 111 Realty OPO LLC, a real estate investment company led by Mallick Group Inc. and Keating Investments, was the buyer. International Bank of Commerce – Houston provided acquisition financing.