EGG HARBOR, N.J. — Besen Special Assets has arranged the $8.5 million sale of an 83,200-square-foot office property in Egg Harbor, located about 13 miles west of Atlantic City. The property includes two Class B, two-story office buildings spanning 41,600 square feet each. Besen Special Assets represented the buyer, a private investor, in the transaction. A regional bank sold the office park, which was fully leased at the time of sale.
HOUSTON — Commercial real estate firm Studley has arranged a 13,500-square-foot office lease in Houston’s Galleria submarket for the national law firm of Wilson Elser. The tenant will occupy space on the 33rd floor of Two Houston Center, located at 909 Fannin Street. Wilson Elser will relocate from Houston’s CBD, a move necessitated by the firm’s merger with Powers & Frost at the beginning of 2013. Chris Taarzon and David Endelman of Studley represented the tenant in the lease negotiations. Debbie Wilson of CBRE represented the property owner, Crescent HC Investors.
SUNNYVALE, CALIF. — SK Telecom Americas has relocated and expanded to a 34,697-square-foot space in Sunnyvale. The new office is located at 310 DeGuigne Drive. SK Telecom was previously based at 150 Mathilda Place. The relocation will allow SK Telecom to more than double its previous space. SK Telecom was represented by Fletcher Baker of Cresa San Jose. The landlord, Menlo Equities, was represented by CBRE.
LORTON, VA. — CBRE has brokered the $24 million sale of a 90,167-square-foot, Class A office building located at 10555 Furnace Road in Lorton, about 19 miles southeast of Washington, D.C. The Drug Enforcement Administration (DEA) occupies the property, which is located in Gunston Commerce Center. The build-to-suit property houses DEA’s Office of Investigative Technology division. CBRE represented the seller in the transaction. Titanium Real Estate Advisors purchased the facility. The DEA’s lease extends through 2020 and features a five-year renewal option.
ORLANDO, FLA. — Lincoln Property Co. Southeast has arranged the sale of four office buildings totaling 182,000 square feet in metro Orlando in two separate transactions. The combined sales price for the assets totaled $8.7 million. In one transaction, UP Fieldgate US Investments-Fashion Square LLC purchased Corporate Park I and II in Orlando from RGA Real Estate Holdings for $4.75 million. Scott Corbin of Colliers International represented the buyer in the transaction. In the other transaction, Vista Premier Point LLC purchased Premier Point North and South in Orlando suburb Altamonte Springs from RGA Reinsurance Co. for $3.95 million. Joe Rossi of Lincoln Property Co. Southeast represented the sellers in both transactions.
EL PASO, TEXAS — CBRE has brokered the sale of a single-story, 37,500-square-foot office building in El Paso to Baltimore-based Sinclair Broadcast Group (SBG). The buyer will move its television stations KFOX-TV and KDBC-TV to the property, which previously served as the headquarters for Currey Adkins. SBG is planning renovations, including the construction of new sets, satellite farms and sales and administration facilities, for the asset. Chad McCleskey of CBRE represented SBG in the transaction.
PASADENA, CALIF. – A 23,776-square-foot office building in Pasadena has sold to Markwood Enterprises for $7 million. The building is located at 66 Hurlbut Street. It is leased to Pacific Clinics. Markwood is aggressively seeking value-added opportunities, including multifamily development, mixed-use development and medical. The company was represented by Marie Taylor and Dan Bacani of NAI Capital’s Pasadena office.
SCOTTSDALE, ARIZ. — Redrock Business Center, a 21,190-square-foot office complex in Scottsdale, has sold to A2Z Properties for $1.9 million. The Class B, four-building center is located at 17100 East Shea Blvd in the Fountain Hills submarket. Only two of the office buildings were included in this transaction. Eric Wichterman, and Mike Coover of Cassidy Turley represented both the buyer and the seller, MJA Investments, in this transaction.
GRAPEVINE, TEXAS — CASE Commercial Real Estate Partners has brokered the sale of Vineyard Centre I & II, a 68,755-square-foot office complex in the Fort Worth suburb of Grapevine. Built in 1997, the two-building property is located at 1450 Hughes Road, offering access to Highway 121 and Highway 360. The asset is in proximity to DFW International Airport, as well as amenities such as Bear Creek Golf Club, Gaylord Texan Resort & Convention Center and Grapevine Mills Mall. Susan Gwin Burks, Bruce Butler and John Bowles of CASE represented the buyer, Dallas-based Menyon Capital Partners. CASE will assume marketing duties for the property, which was 80 percent leased at the time of the sale.
SANTA ANA, CALIF. – Blackstone Group has purchased a pair of Class A office buildings inside the mixed-use MacArthur Place development in Santa Ana for $82.5 million. The buildings are located at 1 and 2 MacArthur Place in the Airport submarket. They contain a total of 409,762 square feet. The seller was GLL Real Estate Partners. The transaction was executed by Michael Zietsman and Baker Morphy of Jones Lang LaSalle’s Capital Market.
