SAN DIEGO — The San Diego Community College District (SDCCD) Board of Trustees has signed a 99-year ground lease at a new mixed-use project that is being developed in San Diego’s Upper East Village. The 1.3-acre project will envelop a full city block. It will contain creative office space, apartments, and street-level shops and restaurants. The project is being developed by Lowe Enterprises and I.D.E.A. Partners, LLC. It will be designed by Gensler. SDCCD will pay $56,625 per month, for a total lease value of about $67.2 million. The new project is an inaugural component of the 95-acre I.D.E.A. (Innovation Design Education Arts) District, which looks to marry design and technology with the creative fields. The new district hopes to entice educational institutions, arts and artists. It is being designed as a walkable, sustainable environment.
BELLEVUE, WASH. – A joint venture between Trammell Crow Company and Principal Real Estate Investors has purchased a 1.5-acre land site in Bellevue’s Washington Square. The purchase price was not disclosed. The land is situated along 108th Ave. NE in the city’s Central Business District. The JV plans to develop a 462,000-square-foot, Class A office building with street-level retail on the site. The groundbreaking is scheduled for next April. The project will be built by Lease Crutcher Lewis and designed by LMN Architects. Leasing will be overseen by Tom Bohman, Pete Hollomon and Lennon Atteberry of CBRE’s Bellevue office.
MACOMB TOWNSHIP, MICH. — Bernard Financial Group has arranged an $11 million loan for North Macomb Professional Office Building in Macomb Township, a northern suburb of Detroit. The 56,000-square-foot property is a five-level medical/professional office building. North Macomb POB Investment I LLC was the borrower. Dennis Bernard and Kevin Kovachevich of Bernard originated the loan. Barclays Bank PLC was the lender.
HOUSTON — Mesa West Capital has provided alliantgroup with a nearly $85 million non-recourse first mortgage for the purchase of 3009 Post Oak Blvd., a recently completed 302,000-square-foot office building in the Galleria submarket of Houston. alliantgroup, which has pre-leased 125,000 square feet of the facility, purchased the property from Skanska Commercial Development. The building, which is pre-certified LEED Platinum, will also house tenants Datacert, Skanska and Becker Financial. David Aaronson and John Fenoglio of CBRE arranged the financing through Mesa West’s Core Debt Fund.
FORT WORTH, TEXAS — KDC, a development and investment firm headquartered in Dallas, has completed a broadcasting and multimedia news facility totaling 75,000 square feet at The CentrePort Business Park in Fort Worth. NBC 5/KXAS-TV will occupy the property, which will operate on a 24-7 basis and features an on-site fitness facility and cafeteria. Corgan Associates Inc. acted as project architect, and Adolfson & Peterson Construction worked as general contractor. Gary Collett and Matt Heidelbaugh of Cushman & Wakefield provided brokerage services.
WILMINGTON, DEL. — RAA Management has purchased The Rollins Building, a Class A, 202,017-square-foot office building in Wilmington. The purchase price was undisclosed. However, The News Journal, a local newspaper, says the deal was worth approximately $10.5 million. Drugmaker AstraZeneca sold the 15-story property, which was vacant at the time of sale. Famed businessman John Rollins, who also served as Delaware’s lieutenant governor in the 1950s, built the Rollins Building in the 1960s. Doug Rodio and Blaise Fletcher, senior vice presidents at Jones Lang LaSalle, led the team in the transaction.
MIAMI — Marcus & Millichap has arranged the sale of Dadeland Executive Center, a 68,142-square foot-office property located at 9700 S. Dixie Highway in Miami. The 11-story property sold for $7.8 million. AT&T anchors the Class B office building, which was 71 percent occupied at the time of sale. Alex Zylberglait of Marcus & Millichap’s Miami office represented the seller, a private investor based in Miami. Zylberglait also secured and represented the buyer, an operator based in Coral Gables, a Miami submarket.
LISLE, ILL. — United Health Group has signed a lease renewal for 41,289 square feet of office space at Corporetum VI in Lisle, located about 25 miles west of Chicago. The 172,695-square-foot Corporetum VI office building features granite lobbies, on-site food service, a conference center, fitness center and private corner balconies. The building is located at 550-650 Warrenville Road, directly off of I-88. Minnetonka, Minn.-based United Health Group is a diversified managed healthcare company that serves approximately 70 million individuals nationwide. Patrick Kiefer, Jim Adler and Dan O’Neill with NAI Hiffman’s office services group represented the building’s owner, Winthrop Realty Trust, in the transaction. Robert Sevim and Joe Learner of Studley represented United Health Group.
RICHARDSON, TEXAS — Dallas-based Fobare Commercial and architect Parmadesign have broken ground on Collins Center, a 153,000-square-foot speculative office building in Richardson, approximately 13 miles north of Dallas. Located adjacent to the Arapho Station of Dallas Area Rapid Transit at 1225 Alma Road, the building is slated for completion in January 2014 and will be the first speculative office development in Richardson in the past decade. Collins Center’s ground-level floorplate totals 128,000 square feet, while the mezzanine on the north end of the building totals 25,000 square feet. Rick Currey and Chris Doggett of Fobare will oversee leasing, targeting both call centers and corporate tenants.
CLARKFIELD, MINN. — The Skajaquoda Group has signed a lease for a 144,000-square-foot research facility in Clarkfield, a city in southwest Minnesota. The investment company is relocating its headquarters from Claymont, Del. The new location will allow Skajaquoda, which up to this point has only been an investment company, to begin its new research program that focuses on renewable energy. Skajaquoda Group Inc., quoted on the OTC (ticker symbol: SKAJ), invests according to its socially responsible investment policy.