LOS ANGELES — Westwood Terrace, a 150,632-square-foot office building in the Los Angeles submarket of Westwood, has sold to a joint venture between Ocean West Capital Partners and Westbrook Partners. The institutional-quality building is located at 1640 S. Sepulveda Blvd. It is currently 67 percent leased. The seller, Jamison Properties, was represented by CBRE’s Kevin Shannon, Ken White, Todd Tydlaska and Mike Moll.
NEW YORK CITY— The World Trade Centers Association (WTCA), has signed a 10-year, 11,911-square-foot lease on the 33rd floor at 120 Broadway in New York City. The asking rent was more than $42 per square foot. WTCA is a nonprofit international trade association that brings together corporations and government agencies in more than 100 countries. Shawn Harooni of Norman Bobrow & Co. represented WTCA in the transaction. Camille McGratty of Silverstein Properties represented the landlord in house.
HOUSTON — Ziegler Cooper Architects has completed an $11 million redevelopment project at Brookhollow Central I, part of a three-building, 800,000-square-foot office complex located in the North Loop West submarket near Loop 610 and U.S. 290 in Houston. The updates include renovating the building glass, entrance portals, lobby finishes, garage-building connector, floor restrooms, corridors and elevator lobbies. The renovations also included mechanical upgrades, environmental graphics, vertical transportation improvements, garage improvements and new landscaping. Ziegler Cooper will continue redevelopment of the office campus under owner Parmenter Realty Partners. Ziegler hopes to achieve LEED for Existing Building (EB) certification.
SAN ANTONIO — Travis Commercial Corp. Services has brokered the acquisition of Heritage Oaks I, an 84,000-square-foot, Class A office building located on Loop 1604 and Bitters Road in San Antonio. Zachry Corp. purchased the property, which will serve as its new headquarters. Mark Krenger and Jeff Miller of Travis Commercial provided acquisition and advisory services to Zachry Corp.
DALLAS — Rosemont Realty LLC has secured a long-term lease expansion from NorthPark Management at 8080 NCX, a 286,921-square-foot office complex located at 8080 N. Central Expressway in Dallas. The building is currently at 95 percent occupancy. Kirby White represented Rosemont Realty in-house and John Amend and J.W. Amend of the Amend Group represented NorthPark Management in the transaction.
MILPITAS, CALIF. — Murphy Crossing, a 361,807-square-foot office property in Silicon Valley, has sold to CBRE Strategic Partners U.S. Value 6 for an undisclosed sum. The fund is sponsored by CBRE Global Investors. The five-building, Class A property is located at 1001, 1011 and 1033 McCarthy Blvd. and 915 and 933 Murphy Ranch Road. It is situated on the border between Milpitas and North San Jose. The property is scheduled to undergo renovations and will strive for LEED certification.
LOS ANGELES — Westwood Terrace, a 150,632-square-foot office building in the Los Angeles submarket of Westwood, has sold to a joint venture between Ocean West Capital Partners and Westbrook Partners. The institutional-quality building is located at 1640 S. Sepulveda Blvd. It is currently 67 percent leased. The seller, Jamison Properties, was represented by CBRE’s Kevin Shannon, Ken White, Todd Tydlaska and Mike Moll.
ST. PETERSBURG, FLA. — A joint venture between Tampa, Fla.-based Cardinal Point Management and Naples, Fla.-based Halstatt Real Estate Partners has purchased Echelon Pointe, a Class A office building located in St. Petersburg. The five-story building, which was constructed in 2007, contains 123,639 square feet of space and is situated on 5.1 acres within Carillon Park office park at 970 Lake Carillon Drive. The propertyalso includes a 359-space parking deck. Echelon Pointe was 98 percent leased at the time of the sale to tenants that include Paychex, Smith & Nephew, and Regus. The Holliday Fenoglio Fowler (HFF) team of Hermen Rodriguez, Ike Ojala and Jorge Portela represented the seller, an undisclosed institutional investor. HFF’s Chris Drew led the team that arranged joint venture equity with Halstatt for the property’s purchase.
FORT LAUDERDALE, FLA. — Avison Young has arranged the acquisition of Cypress Court, a 41,850-square-foot office building located in Fort Lauderdale, for $4.3 million. The three-story building is situated within Corporate Park at Cypress Creek at 6360 NW 5th Way. Its common areas were recently renovated. Wayne Schuchts and Greg Martin of Avison Young represented the buyer, NRNS Acquisition McNab Road LLC, which plans to occupy the majority of the building and lease the remaining space to third-party tenants. The seller’s name was not disclosed.
NEW YORK CITY — Savanna, a New York-based real estate private equity and asset management firm, has secured three new leases totaling 70,262 square feet at 31 Penn Plaza in Manhattan. TPG Planning & Design, an architecture firm, has signed a 40,431-square-foot lease, spanning the entire fifth floor and portion of the fourth floor. Mark Ravesloot and Michael Monahan of CBRE represented TPG in the transaction. Regus, a workplace provider, has signed a lease for 23,009 square feet, spanning the entire 15th floor. Patrick Heeg and Jim Wenk of Jones Lang LaSalle represented Regus in the transaction. Real Estate Arts Inc., a digital marketing and branding agency specializing in real estate and architecture, has signed a 6,882-square-foot lease. The agency will be moving into a prebuilt space on the sixth floor. Benjamin Friedland and Michael Hirsch of CBRE represented Real Estate Arts in the transaction. Mitchell Konsker, Matthew Astrachan and Matthew Polhemus of Jones Lang LaSalle represented the landlord, Savanna, in all three transactions. 31 Penn Plaza is an 18-story, 444,000-square-foot office building located at 132 W.31st St.