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.
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.
LONG BEACH, CALIF. — Primex Agriculture Services has signed a five-year lease for 104,737 square feet at the California State University Long Beach (CSULB) Technology Park. The park is located at 2200-2250 Technology Place in Long Beach’s Heavy Weight Corridor. The space was previously occupied by DAMCO Distribution. The alfalfa exporter was represented by Zac Sakowski and Barry Hill of Jones Lang LaSalle. The landlords, CSULB and Watt Commercial Properties, were represented by Gregory Gill, Garrett Massaro and Brandon Carrillo of Lee & Associates.
MIAMI — White & Case LLP has signed a long-term lease renewal for 57,954 square feet of office space at Southeast Financial Center, a 1.2 million-square-foot office tower in Miami’s CBD. The tower is the tallest and largest office building in Florida, according to Jones Lang LaSalle. Donald Cartwright and Nicole Vassilaros of Jones Lang LaSalle represented the landlord in the lease negotiations. Tere Blanca of Blanca Commercial Real Estate Inc. represented White & Case in the transaction.
LISLE, ILL. — Chicago-based GlenStar Properties LLC, along with an institutional capital partner, has purchased 2400 Cabot Drive in Lisle from CA Lisle Project Co. LLC an entity advised by CBRE Global Investors LLC. The 205,633-square-foot building, originally built in 1987 as Pansophic Systems Inc.’s headquarters, is a Class A suburban headquarters building. Ideal for large users of office space, the building features 52,000-square-foot floor plates and amenities including conference and training facilities, indoor executive parking, a fitness center and a full service cafeteria and dining area. The new ownership plans to increase and upgrade the existing on-site parking and will also provide additional building enhancements.