NEW YORK CITY — Marcus & Millichap has arranged the $10.9 million sale of 123-127 Lafayette St., a partially vacant six-story office building in Lower Manhattan. The sales price equates to $663 per square foot. Barbara Dansker in Marcus & Millichap’s Manhattan office, represented the seller, an owner/user. Dansker also represented the buyer, Stellar Management, a New York-based developer. The property is located between Canal and Howard streets.
NEW YORK CITY — El Al Airlines Ltd., Israel’s national airline, has signed a new 10-year lease at 100 Wall St. in Manhattan, occupying 14,918 square feet on a portion of the fourth floor. Brian Reiver of Savanna, a New York-based real estate private equity firm, represented the landlord in the transaction. Albert Duryea of New York Realty Group Inc. represented the tenant. El Al offers nonstop flights between New York and Israel, as well as the only nonstop service from Los Angeles, according to Savanna.
LAS VEGAS – A 13,000-square-foot office building in Las Vegas has sold to Daniel Negari, CEO of XYZ.com LLC, for an undisclosed sum. The building is located at 2121 E. Tropicana. plans to transform the building into college/office space that will house employees working on his newly acquired domain extensions, .xyz and .College. The building, which is currently named BLOKHAUS, will be rebranded as XYZHAUS. Negari was represented by CBRE’s Marlene Fujita Winkel. The Seller, 2121-HAUS, LLC, was represented by Charles Moore and Ashley Kolaczynski, also of CBRE.
SCOTTSDALE, ARIZ. – A trio of units within the Mountain View Office Suites in Scottsdale has sold to SH Property LLC for $2.1 million. The 10,137-square-foot medical office building is located at 9787 N. 91st Street. It was fully leased at the time of sale. The building is anchored by Scottsdale Endoscopy Center. SH Property represented by Bob Winegar and Lance Richards of Pierpont Equity Group. The seller, Phaedrus LLC, was represented by Andrew Fosberg and Steve Fernandez of CBRE’s Phoenix office.
CHICAGO — Reed Construction has been selected for a 22,000-square-foot tenant build-out at 100 N. Riverside Plaza in Chicago on behalf of new tenant, Carroll McNulty & Kull. The law firm is opening a new office in Chicago and has selected the 770,000-square-foot, 36-story, Class A office property in Chicago’s West Loop for its new location. The build-out will include new stone flooring at the reception area, carpet and paint throughout, updated millwork at three pantries and upgraded washroom facilities. Bryan Krueger, project executive, and Steve Sandquist, project manager are leading the construction team for Reed. Interior Architects is providing design services. Cushman & Wakefield is acting as the owner’s representative. Construction is slated for completion in January 2014.
BROOKLINE, MASS. — Clarion Partners has acquired 10 Brookline Place, a 173,439-square-foot office building in Brookline, for $121 million. The six-story building serves as the southwest gateway to the Longwood Medical and Academic Area, a large medical campus that includes Harvard teaching hospitals in Boston. Clarion purchased the property from Invesco Real Estate. The Dana-Farber Cancer Institute anchors the building. The cancer treatment center has occupied space at the property since 2001. Eastdil Secured arranged the transaction.
BANNOCKBURN and DEERFIELD, ILL. — NAI Hiffman has represented two owners and one tenant in three separate transactions totaling nearly 24,000 square feet of office space in Chicago’s north suburban market. In Bannockburn, Marathon Capital expanded its lease for 9,367 square feet at FGMK LLC’s property located at 2801 Lakeside Drive. At 1751 Lake Cook Road in Deerfield, L’Oreal USA signed a new lease with James Campbell Co. for 7,052 square feet of office space. Just down the street at 111 Deer Lake Road, ECD Co. signed a lease renewal with Green & Associates for 7,500 square feet. Michael Flynn and Jason Wurtz with NAI Hiffman’s office services group represented FGMK, LLC, L’Oreal USA and ECD Co. in the three separate transactions. Tim Hart of Colliers International represented Marathon Capital; Adam Showalter of CBRE represented James Campbell Co.; and Vic Sanmiguel and Peter Billmeyer of Chicagoland Commercial represented Green & Associates.
CORPUS CHRISTI, TEXAS — Colliers International has brokered the sale of the Bank of America Tower, a 350,000-square-foot office property in the central business district of Corpus Christi. The 12-story, Class A building is located at 500 N. Shoreline Blvd. Features include a two-story atrium and detached parking garage. David Carter and Martin O’Malley of Colliers represented the seller, Lake Street Corpus Christi Holdings Inc., in the transaction.
ORLANDO, FLA. — Heaven III LLC, a subsidiary of Kingstone Family Holding Co. and affiliate of Max King Realty, has acquired the Lake Ellenor Business Center in Orlando for $2.6 million. The office plaza is comprised of six buildings totaling 110,000 square feet. The complex will be rebranded as Heaven III following a $1 million renovation program. Lisa Bailey of Morrison Commercial Real Estate represented the seller, Land O’Frost Inc., in the transaction.
NEW YORK CITY — HFF has arranged the $50 million sale of a three-property office portfolio totaling 372,544 square feet in various Long Island locations. A joint venture between Investcorp International Inc. and Lincoln Equities Group LLC purchased the portfolio, which includes 666 Old Country Road in Garden City (120,238 square feet); 114 Old Country Road (114,356 square feet); and 100 Merrick Road in Rockville Centre (137,950 square feet). The portfolio has undergone more than $5 million in capital improvements since 2003 and is 93 percent leased. HFF also arranged acquisition financing for the buyers. Jose Cruz, Andrew Scandalios, Kevin O’Hearn, Jeff Julien and Jackie Ferrer led the HFF team representing the seller. Mike Tepedino and Michael Gigliotti led HFF’s debt placement team in the transaction.
