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.
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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.
SAN DIEGO – A joint venture between McCarthy Cook & Co. and AllianceBernstein U.S. Real Estate Partners, L.P. has purchased Canyon Plaza, a 213,000-square-foot office campus in the San Diego submarket of Sorrento Mesa. The purchase price was not disclosed. The two-building plaza was built in 1986 and expanded in 1993. It is currently 49 percent leased to CareFusion Corporation. Conexant Systems previously held a master lease at the property. The Class A plaza currently has about 100,000 square feet of vacant space. The joint venture plans to redevelop its common areas and lobbies. It also intends to add a tenant lounge, café and fitness center. Gensler Architects will lead the redevelopment design efforts. Jones Lang LaSalle will market the campus to both full-campus and multi-tenant users. This is McCarthy Cook’s first venture with AllianceBernstein. The JV represented itself in this transaction. The seller, a real estate investment fund advised by LaSalle Investment Management, was represented by Lynn LaChapelle and Bob Prendergast of Jones Lang LaSalle.
CHARLOTTE, N.C. — Toronto-based Agellan Commercial REIT has purchased the Linville Building, a Class A,118,497-square-foot office property located in Charlotte, for $19 million. The property was 96 percent occupied at the time of sale. Dunn Mileham of Trinity Partners represented the seller in the transaction. Agellan has retained Trinity Partners to handle leasing the property.
CLEBURNE, TEXAS — Stage Equity Partners LLC has acquired a 25,850-square-foot medical office building in the Fort Worth suburb of Cleburne for $5.7 million. Constructed in 2007, the Class A asset is fully leased to tenants such as Cleburne Surgical Center, Cleburne Orthopedics and Sports, Pinnacle Anesthesia Consultants and Hulen MRI. The property, located at 2010 Katherine P. Raines Road, is in close proximity to Interstate 121. A private partnership sold the building.
IRVING, TEXAS — Spire Realty Group LP has arranged a 51,623-square-foot lease in Irving for JDA Software Group Inc., a provider of supply chain, merchandising, store operations and all-channel software. The Class A property, located at 500 E. John Carpenter Freeway in the Las Colinas submarket, totals eight stories and 200,000 square feet and includes a conference center, fitness center, deli, lounge and attached parking garage. Andrew Schendle and Allison Johnston of Spire Realty Group represented the landlord, an affiliate of Spire, in the negotiations. John Roper of CBRE represented the tenant.
WALNUT CREEK, CALIF. — Tishman Speyer has acquired California Plaza, a 379,000-square-foot office building in Walnut Creek, for a reported $102 million. The plaza is located at 2121 N. California Blvd. near the BART and I-680. It is currently 90 percent leased to tenants like Basic American Foods, CSE Insurance, MWH Americas and Anthem Blue Cross. The seller, Heitman LLC,was represented by HFF’s Steven Golubchik, Michael Leggett and John Simerlein.