ANAHEIM, CALIF. — Ball Road Business Park in Anaheim has sold to Providence Capital Speed Fund for $9.7 million. The 114,984-square-foot park is located at 701-741 East Ball Road. Providence was represented by CBRE’s Stan Tomer. The seller, The Realty Associates Fund VI, L.P., was represented by Dan Vittone and Alan Pekarcik of Avison Young’s Irvine office.
SAN JOSE, CALIF. — Century Plaza II, a 99,126-square-foot, Class A office building in San Jose, has sold to Grosvenor Americas for an undisclosed sum. The six-story building is located at 560 S. Winchester. It is fully occupied by the Rockefeller Group Business Centers, Cushman & Wakefield and Merrill Lynch Wealth Management.
AUSTIN, TEXAS — Shorenstein Properties LLC has entered into a new venture to capitalize the development of two office buildings located within The Domain, a 304-acre mixed-use community in northwest Austin. The venture was completed with Deutsche Asset and Wealth Management and its developer, Endeavor Real Estate Group. The two buildings, Domain 2 and Domain 7, are five and six stories and total 139,675 and 221,886 square feet, respectively. Domain 2, which will break ground later this month, has preleased 100 percent of the office space to HomeAway Inc. Domain 7 will break ground later this summer.
AUSTIN, TEXAS — Transwestern has brokered the sale of Northview Business Center on behalf of UNUM Life Insurance of America to TriGate Capital. Northview Business Center is a 262,067-square-foot, multi-tenant office building located at 9001 Interstate 35 in northeast Austin. Hale Umstattd, Leah Gallagher and Luke Wheeler of Transwestern represented the seller, Portland, Maine-based UNUM Life Insurance. The property was 70 percent leased at the time of sale.
SAN JOSE, CALIF. — Century Plaza II, a 99,126-square-foot, Class A office building in San Jose, has sold to Grosvenor Americas for an undisclosed sum. The six-story building is located at 560 S. Winchester. It is fully occupied by the Rockefeller Group Business Centers, Cushman & Wakefield and Merrill Lynch Wealth Management.
CHICAGO — Ameritus LLC has entered into a joint venture with an East Coast-based private equity firm to acquire the Engineer’s Building at 205 W. Wacker Drive in Chicago. The sales price was $22.3 million, according to local media reports. The 25-story, 263,000-square-foot building was constructed in 1928 and includes panoramic views of the Chicago River. Ameritus plans to invest more than $10 million in the property to replace the mechanical systems, renovate the lobby and common areas and provide tenant amenities to the building. Chris Cassata and Scott Sessa of CBRE will serve as the leasing agents for the property.
CHICAGO — A joint partnership between ACG Equities and Purinton Development has sold Belden Centre at 2301-15 N. Clark St. in Chicago to Newport Capital Partners. The purchase price was undisclosed. The 52,806-square-foot retail property, which is located in Chicago’s Lincoln Park neighborhood, includes 76 parking spaces. Built in 1991 and renovated in 2011, the fully leased property includes tenants ranging from retail and dining establishments to personal services. Keely Polczynski, a retail investment sales advisor for CBRE, assisted the partnership in the sale.
NEW YORK CITY — American Realty Capital New York Recovery REIT Inc. (NYRR) has acquired a three-story office condominium in Manhattan for $90.8 million. Located at 50 Varick St. in the Tribeca neighborhood, the 158,573-square-foot building is fully leased to a subsidiary of Spring Studios Limited. Spring Studios Limited is a London-based provider of creative services to the world's top international fashion, beauty and luxury brands. With the addition of this asset, NYRR owns nearly $800 million in assets, including properties announced for purchase.
HOUSTON — Jones Lang LaSalle's Capital Markets has arranged the sale and financing of Ashford Place, a two-building, 143,505-square-foot office portfolio in Houston's Energy Corridor. Insite Realty Partners LP purchased the property from CW Capital Asset Management LLC. The two Class B properties are located at 950 Threadneedle St. and 14800 St. Mary's Lane along Katy Freeway (Interstate 10). The properties are 86 percent leased. Rudy Hubbard, Paul House and Kevin McConn of Jones Lang LaSalle led the team in the deal.
HOUSTON — CBRE has brokered the sale of One Oak Park, a fully leased, Class A office building located in Houston's Westchase District. The 153,342-square-foot property was constructed in 2009 and is LEED Gold-certified. A four-level parking garage adjoins the six-story office building. Bernard Branca and Jared Chua of CBRE represented the sellers, The Carlyle Group via Carlyle Realty Partners V and Means-Knaus Partners. Clarion Partners, real estate investment manager, purchased One Oak Park.