RICHARDSON, TEXAS — Hudson Peters Commercial has brokered the sale of an 11,420-square-foot office building in Richardson. Located at 212 W. Spring Valley Road, the two-story property is in close proximity to State Highway 75 and Interstate 635. Janice Peters and Michelle Hudson of Hudson Peters represented the seller, Medwed Properties, in the transaction. Kent Smith of NAI Robert Lynn represented the buyer, Modjarrad & Abusaad Law Firm.
SAN JOSE, CALIF. — Embarcadero Capital Partners has purchased Gold Street Technology Center, a 302,600-square-foot office/R&D campus in San Jose, for an undisclosed sum. The five-building campus is located at 2100, 2130, 2150, 2160 and 2190 Gold Street along Highway 237. It is 80 percent leased to four tenants, including Tivo, Inc., eSilicon Corporation, Minerva Networks and PiCoral. The seller, PNC Realty Investors, Inc., is the investment advisor to the AFL-CIO Building Investment Trust. It was represented by HFF’s Michael Leggett, Steven Golubchik and John Simerlein.
PORTLAND, ORE. — An investment fund sponsored by Unico Properties LLC has purchased the Commonwealth Building, a 219,557-square-foot creative office building in Portland, for $41 million. The building is located at 421 SW 6th Ave. It was built in 1947 and renovated from 2008 to 2010. Commonwealth is currently 93.1 percent occupied. The seller was Commonwealth Acquisition LLC. Unico will continue to manage the building. Buzz Ellis, Michel Seifer and Paige Morgan of Jones Lang LaSalle’s Capital Markets executed the sales transaction. JLL’s Joe Vaughan and Kristin Hammond will continue to oversee its leasing efforts.
FORT COLLINS, COLO. — Westfield-Harmony LLLP has acquired Harmony Corporate Center, a 190,617-square-foot office building in Fort Collins, for $32 million. The property is located at 2950 E. Harmony Road. The seller was Casa Grande Capital Group, LLC. The transaction was executed by Peter Kast of Realtec, as well as by Gary Hollenbeck of Palmer-McAllister and Mary Frances Cowan of Quantum Commercial Group.
DENVER — RiverRock Real Estate Group has expanded its property management and leasing services into Denver. The firm was recently awarded the management of a 630,000-square-foot of portfolio office and industrial space in and around the metro. RiverRock will oversee the property management and engineering of five properties. It will also add about eight employees to the area.
CHICAGO — The John Buck Co. has formed a joint venture with institutional investors to develop a 36-story office tower in Chicago’s West Loop. The John Buck Co. and its partners, Canada Pension Plan Investment Board and the INDURE Fund managed by National Real Estate Advisors, have agreed to commit $145 million of equity capital to initiate the proposed project called 151 North Franklin. The development would be the first new office project to be delivered in Chicago since 2009, according to The John Buck Co. The project is slated for completion in the third quarter of 2016. Plans call for the 825,000-square-foot tower to offer WiFi throughout the building, 25,000-square-foot floor plates, 10-foot ceiling heights and floor-to-ceiling glass. The design team includes Chicago-based architect John Ronan and Adamson Associates Inc.
NEW YORK CITY — Metro-North Commuter Railroad Co. has signed a 20-year lease covering 265,903 square feet at 420 Lexington Ave. in New York City. Metro-North, a subsidiary of New York’s Metropolitan Transportation Authority, currently occupies 133,503 square feet on the 11th, 12th and 22nd floors of the 30-story, 1.2 million-square-foot property located adjacent to Grand Central Terminal. The 132,400-square-foot expansion will cover the entire 10th floor and portions of the second, third and fifth floors. Josh Kuriloff, Jodi Roberts and David Heller of Cushman & Wakefield Inc. represented Metro-North in the transaction. SL Green was represented in-house.
KATY, TEXAS — The Mission Companies, a construction firm, and management and consulting company Entrust Inc. have completed a two-story, 34,000-square-foot office building in the Houston suburb of Katy. Entrust has leased 69 percent of the Class A property to serve as a new corporate headquarters. Located at 22322 Grand Corner Drive, the 2.62-acre site is situated at the interchange of State Highway 99 and Westpark Tollway, as well as the master-planned communities of Cinco Ranch, Grand Lakes and Seven Meadows. Sam Hansen of NAI Houston is the leasing agent for the remaining suites available at the facility.
FORT COLLINS, COLO. — Westfield-Harmony LLLP has acquired Harmony Corporate Center, a 190,617-square-foot office building in Fort Collins, for $32 million. The property is located at 2950 E. Harmony Road. The seller was Casa Grande Capital Group, LLC. The transaction was executed by Peter Kast of Realtec, as well as by Gary Hollenbeck of Palmer-McAllister and Mary Frances Cowan of Quantum Commercial Group.
DENVER — RiverRock Real Estate Group has expanded its property management and leasing services into Denver. The firm was recently awarded the management of a 630,000-square-foot of portfolio office and industrial space in and around the metro. RiverRock will oversee the property management and engineering of five properties. It will also add about eight employees to the area.