NORWALK, CONN. — Washington Trust’s commercial real estate group has provided $14.5 million in financing to DIV 40 Richards LLC for a 147,000-square-foot office building in Norwalk. The borrower plans to use the funds to upgrade the building and add amenities such as an expanded café, upgraded common areas, a new fitness center and shuttle service to the commuter station. The Davis Cos., a full-service commercial real estate firm based in Boston, is sponsoring the project.
DALLAS — Quadrant Investment Properties LLC has acquired Preston Trail Atrium, a 122,000-square-foot office building in North Dallas. The new ownership plans an extensive lobby renovation and the addition of several amenities for the facility, which is located at 17330 Preston Road, in close proximity to the interchange of the Bush Turnpike and Dallas North Tollway. Jeremy Duggins and Addie Ludwig of Cawley Partners will continue to lease the property. Dallas-based Quadrant has now purchased three Dallas-area assets in the past 12 months.
MIDLOTHIAN, VA. — Ingenuity Development LLC has acquired Archway Sixty Office Park, a 65,000-square-foot office complex in Midlothian, about 16 miles west of Richmond, Va. Ingenuity Development is an affiliate of Virginia Beach, Va.-based Divaris Real Estate Inc., which will lease and manage the office complex. Ingenuity Development plans to upgrade the property’s interior and exterior, as well as give the complex a new name.
CHICAGO — Data Stream LLC, a technology services company, has signed a 7,882-square-foot, long-term lease at the Chicago Board of Trade Building in The Loop neighborhood of downtown Chicago. The company plans to build and maintain a service-oriented data center at the location. Houston-based Data Stream officially entered the Chicago market in August when it signed a 1,459-square-foot lease at the Chicago Board of Trade Building to house its regional sales team. GlenStar Properties LLC and partner USAA Real Estate Co. purchased The Chicago Board of Trade Building in April 2012. Built in 1930, the 44-story building spans 750,000 square feet.
OAKLAND, CALIF. – Ellis Partners has acquired 1111 Broadway in downtown Oakland for a reported $158 million. The 24-story, Class A building contains a total of 566,168 square feet inside Oakland City Center. Notable tenants at the building include Merrill Lynch Wealth Management, HTNB, Wendel Rosen Black & Dean LLP and Tiemstra Law. Oakland City Center was owned by CBRE Investors until it began the disposition of all five assets earlier this year. Eastdil Secured represented both the buyer and the seller in this transaction.
ATLANTA — Cushman & Wakefield has arranged the sale of One and Two Premier Plaza, a two-building, Class A office complex located in Atlanta’s Central Perimeter submarket. The buildings total 316,269 square feet. David Meline, Stewart Calhoun, Samir Idris and Casey Masters of Cushman & Wakefield represented the sellers, CenterSquare Investment Management and Ackerman & Co., in the transaction. Cornerstone Real Estate Advisers purchased the office buildings, which were 78 percent leased at the time of sale.
KANSAS CITY, MO. — Commerce Tower Group LLC (CTG) has plans to convert Commerce Tower at 911 Main St. in Kansas City to a mixed-use property. The plans call for 160,000 square feet of office space and approximately 265 Class A apartment units that will cost an estimated $70 million. The first floor will be converted to retail space, while offices will remain on floors 2-14 and 24-30. Apartments will be located on floors 15-23.The office space is slated for a summer 2014 completion, with the entire project to be delivered by spring of 2015. Additional amenities include a fitness facility, conference rooms and a rooftop green space and pool. CTG has selected Cassidy Turley to provide project leasing and management services for Commerce Tower at 911 Main St. in Kansas City. The team of Michael Lanning, senior vice president, Thomas Houts, vice president, and Jeffrey Winters, associate vice president, will serve as the leasing agents for the 463,495-square-foot building.
SECAUCUS, N.J. — Affiliates of the Harbor Group International LLC have acquired 100 Plaza Drive, a 265,000-square-foot, four-story office building in Secaucus, for $47 million. Hartz Mountain sold the property, which is 90 percent leased. NBA Entertainment and Scholastic Corp. anchor the office building and occupy 81 percent of the total square footage. The property includes 105 below-grade parking spaces for tenant use, as well as access to a 1,250-space surface lot and 483-space parking deck adjacent to the property. NBA Properties recently invested $43 million in base building and infrastructure improvements to its space.
NEW YORK CITY — Avison Young has completed a 26,400-square-foot office lease at 101 Park Ave. in Manhattan on behalf of investment management firm Federated Investors Inc. The lease comprises the tower’s entire 41st floor. Federated will move into its space at 101 Park Ave. in December 2014, upon completion of its build-out. Principals Greg Kraut and Brad Totten of Avison Young represented Federated in the transaction. John Cefaly and Clark Finney of Cushman & Wakefield represented the landlord, H.J. Kalikow & Co. LLC. Avison Young’s New York City-based project management team, led by Edward Walsh and Kirsten Beck, is overseeing the design and construction of Federated’s new office.
BOSTON — AKF Group, a full-service consulting engineering firm, has signed a 15,247-square-foot office lease at 99 Bedford St. in downtown Boston. Currently occupying 7,820 square feet at 41 Farnsworth St. in Boston’s Innovation District, AKF plans to move into its new larger space in spring 2014. The firm will occupy the entire second floor of the five-story, 84,000-square-foot standalone office building.Brandon Leitner and Rick Lowe of Cresa Boston represented AKF Group in the leasing transaction. Barry Dubé and Kari Panutich of Cresa’s project management group will oversee and manage the construction and relocation to the building.Ted Wheatley, Dan Cavanaugh and Brad McGill at Jones Lang LaSalle represented the landlord, Plymouth Rock Assurance.