HANOVER, MD. — Cushman & Wakefield has arranged a new 11,106-square-foot lease for Nexius Solutions Inc. at 7550 Teague Road within the Arundel Mills Corporate Park in Hanover, about 15 miles southwest of Baltimore. AMCP-2 LLC owns the office property. Richard Thomas and Charlie Beck of Cushman & Wakefield represented the tenant in the lease deal. Nexius, a wireless services and software solutions provider, employs approximately 70 people locally.
WADENA, MINN. — Kraus-Anderson Construction Co. has begun construction of the new $12 million Maslowski Wellness and Research Center in Wadena, a city in western Minnesota. The facility will combine a community center and swimming pool, both of which were destroyed by a hurricane that wiped out 20 city blocks of Wadena on June 17, 2010. The 52,500-square-foot wellness center will include a gymnasium, indoor swimming pool, fitness center, racquetball courts and community meeting spaces. Designed by Minneapolis-based Steve Miller Architects, the two-story facility is slated for a fall 2014 completion.
PROVIDENCE, R.I. — Washington Trust’s commercial real estate group has provided $19 million in financing to Foundry ALCO Members LLC for its acquisition of the five-building American Locomotive (ALCO) Complex in Providence. The brick ALCO buildings, originally constructed as a locomotive factory in 1901, are located on 11.8 acres at 68 Hemlock and 51 Valley streets. The 200,000-square-foot property was redeveloped into an office complex in 2006-2009 and is now 70 percent leased. Tenants at ALCO include law firms, an engineering company and the Rhode Island Economic Development Corp. The largest tenant in the complex is United Natural Foods Inc., a wholesale natural food distributor in the United States. Washington Trust led the financing, which included funding from Rockland Trust.
SACRAMENTO, CALIF. – A seven-property industrial and flex office portfolio has received $38 million in financing. The portfolio includes a total of more than 1 million square feet throughout California, Washington, Colorado and Missouri. The portfolio includes: Sunrise Business Center in Rancho Cordova, as well as Bradshaw Business Park and Fruitridge Industrial Center in Sacramento, Calif.; Andover Executive Park in Tukwila and West Valley Distribution Center in Kent, Wash.; and Inverness Business Park in Englewood, Colo. The portfolio is 52 percent leased. Financing was arranged by HFF’s Lloyd Minten, Paul Brindley and Tom Wilson. They worked on behalf of a joint venture between a subsidiary of Oaktree Capital Management and ScanlanKemperBard Companies. The adjustable-rate loan was placed with Latitude Management Real Estate Investors. The loan’s proceeds were used to acquire the portfolio.
LAS VEGAS – A 13,000-square-foot office building in Las Vegas has sold to Daniel Negari, CEO of XYZ.com LLC, for an undisclosed sum. The building is located at 2121 E. Tropicana. plans to transform the building into college/office space that will house employees working on his newly acquired domain extensions, .xyz and .College. The building, which is currently named BLOKHAUS, will be rebranded as XYZHAUS. Negari was represented by CBRE’s Marlene Fujita Winkel. The Seller, 2121-HAUS, LLC, was represented by Charles Moore and Ashley Kolaczynski, also of CBRE.
SCOTTSDALE, ARIZ. – A trio of units within the Mountain View Office Suites in Scottsdale has sold to SH Property LLC for $2.1 million. The 10,137-square-foot medical office building is located at 9787 N. 91st Street. It was fully leased at the time of sale. The building is anchored by Scottsdale Endoscopy Center. SH Property represented by Bob Winegar and Lance Richards of Pierpont Equity Group. The seller, Phaedrus LLC, was represented by Andrew Fosberg and Steve Fernandez of CBRE’s Phoenix office.
ATLANTA — Scott & Associates Inc. has acquired Circle 75 Office Park, a three-building office complex totaling 710,000 square feet. The office park is located on Circle 75 Parkway in Atlanta’s Cumberland/Galleria submarket. This is the first time the property has traded hands in more than 30 years, according to Scott & Associates. SK Commercial Realty will handle the leasing, management and project consulting services for the property.
NEW YORK CITY — Marcus & Millichap has arranged the $10.9 million sale of 123-127 Lafayette St., a partially vacant six-story office building in Lower Manhattan. The sales price equates to $663 per square foot. Barbara Dansker in Marcus & Millichap’s Manhattan office, represented the seller, an owner/user. Dansker also represented the buyer, Stellar Management, a New York-based developer. The property is located between Canal and Howard streets.
NEW YORK CITY — El Al Airlines Ltd., Israel’s national airline, has signed a new 10-year lease at 100 Wall St. in Manhattan, occupying 14,918 square feet on a portion of the fourth floor. Brian Reiver of Savanna, a New York-based real estate private equity firm, represented the landlord in the transaction. Albert Duryea of New York Realty Group Inc. represented the tenant. El Al offers nonstop flights between New York and Israel, as well as the only nonstop service from Los Angeles, according to Savanna.
LAS VEGAS – A 13,000-square-foot office building in Las Vegas has sold to Daniel Negari, CEO of XYZ.com LLC, for an undisclosed sum. The building is located at 2121 E. Tropicana. plans to transform the building into college/office space that will house employees working on his newly acquired domain extensions, .xyz and .College. The building, which is currently named BLOKHAUS, will be rebranded as XYZHAUS. Negari was represented by CBRE’s Marlene Fujita Winkel. The Seller, 2121-HAUS, LLC, was represented by Charles Moore and Ashley Kolaczynski, also of CBRE.