CARLSBAD, CALIF. — Drawbridge Realty Trust has purchased Pacific View Corporate Center, an 80,862-square-foot office building in Carlsbad, for $22.3 million. The Class A building is located at 5759 Fleet Street within the Carlsbad Ranch subdivision. It is fully leased to Synteract and RF Micro Devices. Drawbridge was represented by Rick Reeder, Joe Anderson and Dennis Visser of Cassidy Turley. The seller, TA Associates Realty, was represented by Jeff Cole, Ed Hernandez, Michael Roberts and Brunson Howard of C&W Capital Markets Division.
DENVER — Artis Real Estate Investment Trusthas purchased 161 Inverness, a 256,767-square-foot trophy office building in Denver that is fully leased to DirecTV, for $71 million. The Class A building is situated within the Inverness Business Park. It was built in 1997 and sits adjacent to the pedestrian bridge for the Dry Creek Station, which offers light rail access.
LAS VEGAS — MVP REIT Inc. has purchased a 47,500-square-foot office building in Las Vegas for $15 million. The building is located at 8880 W. Sunset Road. It is fully leased to a mix of medical and professional tenants that include the corporate headquarters for MVP, which occupies 4,190 square feet. All tenants are under triple-net leases. This sale was part of a larger, five-property portfolio that was acquired by MVP for $48.6 million this past August.
NEW YORK CITY — Colliers International has arranged a 15-year lease at 469 Seventh Ave. with the City of New York leasing 66,800 square feet in the building as part of a large relocation. The multiple-floor space will serve as administrative offices and meeting rooms for the New York City Police Department’s Manhattan south traffic enforcement division. The city agency will occupy part of the ground floor, including a private entrance and elevators, as well as the entire second, third and fourth floors and part of the sixth floor. The 267,000-square-foot office building is situated at the southeast corner of West 36th Street, with access to transportation, including Penn Station and the Port Authority Bus Terminal. The agency is slated to move into its new space in January 2014. Eric Meyer and Marty Meyer and Dan Shavolian of Foremost Real Estate own the building. Keith Cody, John Morrill and Doug Holowink of CBRE Group represented the city of New York in the transaction.
HOUSTON — Real estate advisor DTZ represented law firm Ogletree, Deakins, Nash, Smoak & Stuart P.C. (Ogletree Deakins) in a renewal and expansion of its lease in One Allen Center, a downtown Houston office building located at 500 Dallas Street. The firm, which previously occupied 18,745 square feet of the property, will now occupy 22,515 square feet on the 30th floor. Thomas McKenzie and William Wolff, DTZ senior vice presidents, represented the tenant in the negotiations, while owner Brookfield Properties was self-represented by Paul Frazier and Margaret Sigur of Brookfield Properties. Ogletree Deakins, which specializes in labor and employment law, was founded in 1977 and operates offices in more than 40 cities. The firm opened its Houston office in 1996.
DENVER — Artis Real Estate Investment Trust has purchased 161 Inverness, a 256,767-square-foot trophy office building in Denver that is fully leased to DirecTV, for $71 million. The Class A building is situated within the Inverness Business Park. It was built in 1997 and sits adjacent to the pedestrian bridge for the Dry Creek Station, which offers light rail access.
LAS VEGAS — MVP REIT Inc. has purchased a 47,500-square-foot office building in Las Vegas for $15 million. The building is located at 8880 W. Sunset Road. It is fully leased to a mix of medical and professional tenants that include the corporate headquarters for MVP, which occupies 4,190 square feet. All tenants are under triple-net leases. This sale was part of a larger, five-property portfolio that was acquired by MVP for $48.6 million this past August.
BALTIMORE — Cassidy Turley has arranged the sale of a 28-story, 264,126-square-foot office tower located at 201 N. Charles St. in Baltimore's central business district (CBD). Baltimore-based Blue Ocean Realty purchased the property for nearly $19.7 million. The office tower is only LEED EB Gold certified office tower in Baltimore's CBD, according to Cassidy Turley. Jonathan Carpenter and James Wellschlager of Cassidy Turley represented the seller, Lexington Charles Limited Partnership.
HOUSTON — Parmenter Realty Partners, a Miami-based real estate investment firm, has sold the 201,720-square-foot office building situated at 2200 West Loop South in Houston. The property, which is located in close proximity to the Galleria complex, is the first to be sold of the assets from Parmenter Realty Fund IV. At the time of the sale, the building had a single listed vacant space of 25,884 square feet. Parmenter Realty Partners owns two remaining assets in Houston following the transaction.
NORTH HOLLYWOOD, CALIF. – Kennedy Wilson and one of its partners have acquired a 188,366-square-foot office building in North Hollywood for $45 million. The Class A office building is located at 5161 Lankershim Blvd. The buyer plans to execute a series of enhancements at the property before marketing it to the technology, entertainment and media industries that are common throughout this Los Angeles submarket. Pacific Western Bank provided $30 million in financing for this transaction.