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.
Office
FREMONT, CALIF. – A 22,505-square-foot office building in Fremont has sold to a limited liability company for $3.1 million. The building is located at 200 Brown Road. It was 90 percent occupied by many short-term tenants at the time of sale. The LLC was represented by Bryan Webb of Marcus & Millichap’s San Francisco office.
FORT LAUDERDALE, FLA. — Greenspoon Marder, a full-service business law firm, has leased four floors at 200 E. Broward Blvd., a 21-story Class A office tower in downtown Fort Lauderdale. The law firm’s 64,964-square-foot lease and expansion is the largest law firm lease renewal and expansion in South Florida this year, according to Jones Lang LaSalle. Sandra Andersen of Jones Lang LaSalle represented the landlord, VV USA City LP, an entity represented by Invesco Real Estate. Thomas Capocefalo and Gregory Katz represented Greenspoon Marder in the transaction. With the lease, 200 E. Broward Blvd. is 88 percent leased.
WEST OMAHA, NEB. — Q10 | Daisley Ruff Financial has arranged a $5.5 million permanent loan through a correspondent lender for Empire Spectrum, a 143,050-square-foot office and industrial complex in West Omaha. The non-recourse loan carries an interest rate of 4.4 percent and includes a 25-year amortization schedule. Bob Chalupa, senior vice president of Q10 | Daisley Ruff Financial, arranged the financing.
NEWARK, N.J. — Reliable Health Solutions, a health administration consultancy and business processing outsourcing company, has leased 10,000 square feet at 570 Broad in Newark. The Berger Organization, which manages and operates the 15-story tower, recently completed the fit-out of the firm’s new headquarters, located on the building’s seventh floor. Brendan Berger, vice president of The Berger Organization, represented his company in negotiating the long-term transaction. NAI Geis, based in Philadelphia, served as tenant broker. The Berger Organization maintains a controlling interest in 570 Broad Street LLC, the partnership that owns 570 Broad. Other tenants at 570 Broad include State Farm Insurance, Chase Manhattan Bank, Baldassare & Mara, PC Tech and Lycatel.
FREMONT, CALIF. – A 22,505-square-foot office building in Fremont has sold to a limited liability company for $3.1 million. The building is located at 200 Brown Road. It was 90 percent occupied by many short-term tenants at the time of sale. The LLC was represented by Bryan Webb of Marcus & Millichap’s San Francisco office.
IRVINE, CALIF. — Bixby Land Companyhas purchased a 45,576-square-foot office building in Irvine for an undisclosed sum. The company plans to redevelop the property into a creative office space that encourages a contemporary work environment. The building is located at 18231 West McDurmott in the John Wayne Airport submarket. The project has been named “gen2.” It will feature natural and sustainable materials, wood elements and an outdoor gathering area that serves as a natural extension of the collaborative interior spaces. The building is being designed to accommodate three tenants that will each occupy about 15,000 square feet. It is scheduled for completion in mid-2014. Leasing will be handled by Bob Thagard of Orion Property Partners and John Griffin of Voit. The project will be designed by LPA. This is Bixby’s seventh value-add renovation in the past two years.
RICHMOND, VA. — Cushman & Wakefield | Thalhimer has arranged a 35,849-square-foot office lease at Park Central III in Richmond. The one-story office building is located at 8831 Park Central Drive. Mac Wilson and James Stikeleather of Cushman & Wakefield represented the landlord in the transaction. The tenant, Universal Health Services Inc., is a Fortune 500 hospital management company.
HOUSTON — Q10 | Kinghorn, Driver, Hough & Co. (KDH) has arranged $2.5 million in construction financing for a 37,000-square-foot office/warehouse development in Houston. The single-tenant property, to be located on three acres immediately south of George Bush Intercontinental Airport, will feature concrete tilt-wall panels, pre-engineered steel frame and 120-foot truck apron with loading docks and two 18 feet-by-18 feet doors. Matt Franke and Larry Peters of Q10 | KDH originated the loan through a regional bank.
IRVINE, CALIF. — Bixby Land Company has purchased a 45,576-square-foot office building in Irvine for an undisclosed sum. The company plans to redevelop the property into a creative office space that encourages a contemporary work environment. The building is located at 18231 West McDurmott in the John Wayne Airport submarket. The project has been named “gen2.” It will feature natural and sustainable materials, wood elements and an outdoor gathering area that serves as a natural extension of the collaborative interior spaces. The building is being designed to accommodate three tenants that will each occupy about 15,000 square feet. It is scheduled for completion in mid-2014. Leasing will be handled by Bob Thagard of Orion Property Partners and John Griffin of Voit. The project will be designed by LPA. This is Bixby’s seventh value-add renovation in the past two years.