RIVERSIDE, CALIF. — Market Street Corporate Center I & II and Riverside Gateway I & II have sold to Alliance Commercial Partners for $41.5 million. The parks are located at 2190, 2280, and 2300 Market Street and 3480 & 3550 Vine Street, respectively, in downtown Riverside. Market Street contains three Class A office buildings totaling 133,468 square feet. Riverside Gateway includes two Class A office buildings totaling 90,154 square feet. The centers were 92 percent leased at the time of sale. They feature a mix of tenants, including the County of Riverside, American Express, Metro PCS, Caremore Health Plan, Brandman University, FBI, Fidelity National Title, Robert Half International and Merrill Lynch. The sellers, Pacific Coast Capital Partners and the Muller Company, were represented by CBRE’s Michael Kendall, Philip Woodford, Kevin Shannon, Scott Schumacher, Ken White and Rebecca Perlmutter Finkel.
NORTH HOLLYWOOD, CALIF. – A 9,856-square-foot office building in North Hollywood has sold to Xtetic World/Mesoestetic USA for $2.5 million. The building is located at 11313 Weddington Street. The transaction includes two additional parcels at 5305 and 5313 Bakman Ave. They will be used for parking. The office building will serve as the medical skin care company’s new U.S. headquarters. Xtetic was represented by Adam Comora and Jeremy Barbakowof NAICapital’s Encino office. The seller, Hurley Properties, LLC, was represented by Marty Agnew and Jessica Kelley of Marcus & Millichap.
RALEIGH, N.C. — KBS Realty Advisors, a commercial real estate investment advisor firm based in Newport Beach, Calif., has signed pharmaceutical company Salix to a lease extension and expansion at its Colonnade One office building in Raleigh. Colonnade One is a five-story, 126,928-square-foot office building and is now fully leased. Salix signed an extension to its existing 42,949-square-foot lease, as well as a 16,749-square-foot expansion. Both lease terms run through 2023. Ed Pulliam of CBRE represented Salix in the transaction.
RIVERSIDE, CALIF. — Market Street Corporate Center I & II and Riverside Gateway I & II have sold to Alliance Commercial Partners for $41.5 million. The parks are located at 2190, 2280, and 2300 Market Street and 3480 & 3550 Vine Street, respectively, in downtown Riverside. Market Street contains three Class A office buildings totaling 133,468 square feet. Riverside Gateway includes two Class A office buildings totaling 90,154 square feet. The centers were 92 percent leased at the time of sale. They feature a mix of tenants, including the County of Riverside, American Express, Metro PCS, Caremore Health Plan, Brandman University, FBI, Fidelity National Title, Robert Half International and Merrill Lynch. The sellers, Pacific Coast Capital Partners and the Muller Company, were represented by CBRE’s Michael Kendall, Philip Woodford, Kevin Shannon, Scott Schumacher, Ken White and Rebecca Perlmutter Finkel.
NORTH HOLLYWOOD, CALIF. – A 9,856-square-foot office building in North Hollywood has sold to Xtetic World/Mesoestetic USA for $2.5 million. The building is located at 11313 Weddington Street. The transaction includes two additional parcels at 5305 and 5313 Bakman Ave. They will be used for parking. The office building will serve as the medical skin care company’s new U.S. headquarters. Xtetic was represented by Adam Comora and Jeremy Barbakow of NAICapital’s Encino office. The seller, Hurley Properties, LLC, was represented by Marty Agnew and Jessica Kelley of Marcus & Millichap.
IRVINE, CALIF. – The Alzheimer’s Association has purchased a 30,000-square-foot office building in Irvine for $5.1 million. The association will use the office building as its new Orange County headquarters. The property is located at 2515 McCabe Way. The building is set to begin a five-month renovation in September 2013. The transaction was executed by David Girty and Marty Stradtman of Coldwell Banker Commercial.
ORLANDO, FLA. — Stirling Sotheby's International Realty has arranged a six-year, $1.5 million lease for 10,000 square feet of office space at The Plaza, an office building located at 121 S. Orange Ave. in downtown Orlando. The tenant, Team Gemini LLC, a sustainable project design and development firm, will occupy the penthouse space that features a rooftop garden terrace. John Kurtz of Stirling Sotheby's International Realty represented the tenant and the landlord, ACM DT Properties LLC, in the lease deal. The new office space will serve as the world headquarters of Team Gemini, which is expanding due partly to its $300 million planned project in Ohio.
BOSTON — Skanska USA Building is constructing a $265 million, 17-story office building in Boston’s Seaport District. Phase I of 134,514-square-foot development began in July with a completion date set for the fourth quarter of 2015. PricewaterhouseCoopers will occupy 75 percent of the building, which will feature ground-floor retail. The London-based company provides audit and assurance, tax and consulting services. Skanska USA, headquartered in New York City, will build the office property to meet LEED Gold certification standards.
PHILADELPHIA — Liberty Property Trust/Synterra Partners has announced it will develop a four-story, 80,050-square-foot office building for Franklin Square Capital Partners in Philadelphia. Franklin Square has signed a long-term lease for the entire building, which is located on 4.4 acres in The Navy Yard Corporate Center. The Class A office building is designed to achieve LEED Gold certification. The new headquarters will include views of Philadelphia’s skyline, a healthy food focused restaurant, a multi-use exercise facility and conference facilities. The building is located at 201 Rouse Blvd.
SOMERSET, N.J. — CBRE Group Inc. has arranged two office lease transactions totaling 7,506 square feet within Vantage Court, a 208,700-square-foot, two-building complex in Somerset. Joseph Sarno, Jeremy Neuer and Frank Foldetta of CBRE represented the owner, The Winter Organization, in both transactions. In the first deal, an insurance provider signed a lease for 4,251 square feet. Robert Shulman and James Scancarella of Cresa represented the tenant in the transaction. In the second transaction, Olsson and Co. LLC signed a 3,140-square-foot lease. Chris Hovanec and Sam Horowitz of DTZ Corporate Real Estate represented the accounting firm, which is relocating from 230 Davidson Ave. in Somerset. The property is located at 200 Cottontail Lane.