MIDDLETON, WIS. — Sperry Van Ness has arranged the lease of 3,605 square feet of office space in Middleton, a northwestern suburb of Madison. Michigan Millers Mutual, an insurance company, will occupy space at 3220 Deming Way. Founded in 1881, Michigan Millers Mutual offers a wide range of property and casualty insurance products for individuals, small and mid-size businesses. Jeff Jansen and Anita Frey of Sperry Van Ness represented the tenant in the transaction. The Blettner Group Ltd. is the landlord.
Office
BOSTON — Integrated Interiors has completed an office installation for Gilbane Building Company’s new headquarters at 10 Channel Center in Boston’s Innovation District. The renovation includes 390 linear feet of prefabricated office and conference fronts for the new 22,000-square-foot space. The project team includes Gilbane as owner and construction manager, Gensler as architect, and Cosentini as M/E/P engineer. Additionally, Environments at Work provided furniture for the new space.
IRVING, TEXAS — Bright Realty has brokered the sale of a 19,038-square-foot flex property in Irving. Located on a 1.5-acre lot at 1915 Westridge Drive, the property includes both office and showroom space. Shawn Hall of Bright Realty represented the buyer, Ibrahim Investments, in the transaction. David Cook of Sperry Van Ness represented the unnamed seller.
LONG BEACH, CALIF. – A creative flex/office building in Long Beach that formerly housed a division of Charter Communications has sold to Lotus Real Estate Partners for $6.1 million. The building is located at 4031 Via Oro. It was built in 1985 and will undergo a complete renovation. The property features 73,000 square feet of office space and 10,000 square feet of warehouse space. Lotus was represented by Clyde Stauff of Colliers. Charter Communications was represented by DTZ’s Scott Becket.
YORBA LINDA, CALIF. — Moreno Insurance has acquired a 22,500-square-foot office building in Yorba Linda for $3.7 million. The building is located at 22860 Savi Ranch Road near Old Canal Street. It underwent a complete renovation in 2009. Moreno was represented by Gary McArdell of Lee & Associates. The seller, CAPA Property Management, was represented by Chuck Wilson and Brian Chastain of Colliers.
PARAMUS, N.J. — Direct Travel has signed a lease for 16,500 square feet of space at Paramus Corporate Center in Paramus. The tenant plans to relocate its regional headquarters from Mahwah, N.J., to the 115,000-square-foot office property, which is located on Route 17, this summer. Rich Mirliss and Anthony Rinaldi of Colliers International represented the tenant in the transaction, while Jeffrey Prezant of Cushman & Wakefield represented the landlord, Gabrellian Associates, in the transaction.
KATY, TEXAS — Freeway Properties has broken ground on Katy Ranch Offices Phase I, a 151,000-square-foot office building in the Houston suburb of Katy. The six-story, Class A structure, which will be part of the Katy Ranch mixed-use complex, will feature 24,800-square-foot floor plates and optical fiber transmission cabling. Located in proximity to I-10 and the Grand Parkway, the project also includes a parking garage that will provide four parking spaces per each 1,000 square feet of the building. LSI is the general contractor, Powers Brown Architects is serving as architect, TAS Engineering Construction is working as the mechanical/electrical/ plumbing engineer, and Griff Jaggard and Kurt Kistler of Moody Rambin will handle leasing of the property. The facility is designed for LEED Gold certification and slated for completion in the first quarter of 2015.
GRAPEVINE, TEXAS — Marcus & Millichap has brokered the sale of a 50,406-square-foot office building in the Dallas/Fort Worth suburb of Grapevine. Automotive Resources International, a global fleet solutions provider specializing in complex car and truck fleets, fully occupies the facility, which is located at 2550 S.W. Grapevine Parkway. The one-story structure is located in proximity to State Highway 114, State Highway 121 and the Dallas/Fort Worth International Airport. Ron Hebert and Michael Lawrence of Marcus & Millichap marketed the asset on behalf of the seller, a partnership between Poynter Scifres and an affiliate of Realty Capital Partners. An outside broker represented the buyer, a California-based investor completing a 1031 tax-deferred exchange.
CHARLESTON, S.C. — Cushman & Wakefield | Thalhimer has arranged the $2.5 million sale of a 24,000-square-foot office building located at 1200 Charleston Regional Parkway in Charleston. Jessen Lane LLC purchased the former NanoScreen Building from Wells Fargo Bank. Mankiewicz LLC, a manufacturer of coating systems for the aviation and automotive industries, will lease space at the property. Mark Erickson of Cushman & Wakefield | Thalhimer represented Wells Fargo in the transaction.
CHICAGO — Lubert-Adler, in a joint venture with The Farbman Group, has sold a 23-story office building in Chicago for $100 million. Beacon Investment Partners LLC partnered with Tel Aviv-based Harel Insurance Investments and Financial Services Ltd. to acquire the 535,911-square-foot building located at 200 W. Monroe St. Lubert-Adler and The Farbman Group acquired the office building in July 2012 for $75 million. The joint venture was able to increase occupancy from 80 to 91 percent. Lead tenants include Select Hotels, Equinox Fitness, and Barcodes Inc. The office tower was built in 1973 and renovated in 2006. Philadelphia-based Lubert-Adler, which invests on behalf of leading national university endowments and state retirement systems, owns five other Chicago properties with The Farbman Group.