LAS VEGAS — Colonial Plaza, a 110,738-square-foot office complex in Las Vegas, has sold to MIG Real Estate for $13 million. The complex is located at 4670 & 4730 South Fort Apache Road near the 215 Beltway. MIG was represented by Colonial Plaza in this transaction. It is the firm’s sixth investment in Las Vegas commercial properties.
TEMPE, ARIZ. — Warner Business Center, a 321,000-square-foot flex/office building in Tempe, has sold to a joint venture between ViaWest Group and Contrarian Capital Management, LLC for an undisclosed sum. The seven-building center was purchased through a credit bid at the trustee sale. The JV purchased the debt and completed the foreclosure process. The center is located at 1121, 1131, 1221, 1231, 1241 West Warner Road, and 8905, 8930 South Beck Ave. It is 67 percent occupied.
SCOTTSDALE, ARIZ. — Mesquite Corporate Center, a 79,537-square-foot office building in Scottsdale, has sold to Waittcorp Real Estate, LLC, for $15.2 million. The Class A building is located at 14646 North Kierland Blvd. The center overlooks a nine-hole golf course that is part of the Kierland Golf Club, which is attached to the Westin Kierland Resort & Spa. Mesquite was 96 percent occupied at the time of sale. The seller, DPC Development Company, an entity of DPC Development Company, was represented by CBRE’s Barry Gabel, Chris Marchildon and Mindy Korth. Waittcorp represented itself in this transaction.
TEMPE, ARIZ. — Warner Business Center, a 321,000-square-foot flex/office building in Tempe, has sold to a joint venture between ViaWest Group and Contrarian Capital Management, LLC for an undisclosed sum. The seven-building center was purchased through a credit bid at the trustee sale. The JV purchased the debt and completed the foreclosure process. The center is located at 1121, 1131, 1221, 1231, 1241 West Warner Road, and 8905, 8930 South Beck Ave. It is 67 percent occupied.
SCOTTSDALE, ARIZ. — Mesquite Corporate Center, a 79,537-square-foot office building in Scottsdale, has sold to Waittcorp Real Estate, LLC, for $15.2 million. The Class A building is located at 14646 North Kierland Blvd. The center overlooks a nine-hole golf course that is part of the Kierland Golf Club, which is attached to the Westin Kierland Resort & Spa. Mesquite was 96 percent occupied at the time of sale. The seller, DPC Development Company, an entity of DPC Development Company, was represented by CBRE’s Barry Gabel, Chris Marchildon and Mindy Korth. Waittcorp represented itself in this transaction.
SEATTLE — The Central Building, a 191,784-square-foot office building in Seattle, has sold to KBS Strategic Opportunity REIT for $34.5 million. The Class B+ building is located at 810 3rd Ave. in the city’s Central Business District. It was originally built in 1907 and received its historic landmark designation in 2008 after a five-year renovation period.KBS Strategic Opportunity REIT also owns the nearby 326,384-square-foot Bellevue Technology Center. The REIT is sponsored indirectly by Charles J. Schreiber,Jr., Peter Bren, Keith Hall and Peter McMillan III.It is advised by KBS Capital Advisors LLC, an affiliated entity that is indirectly owned and controlled by KBS Strategic Opportunity REIT’s sponsors.
ATLANTA AND COLLEGE PARK, GA. — Houston-based Boxer Property has acquired two Atlanta-area office buildings. The first is Meridian, a 97,000-square-foot property located at 1995 N. Park Place in Atlanta. The second is Waterstone, a 93,000-square-foot property located at 4751 Best Road in College Park. The seller’s name and the acquisition price were not released. With this purchase, Boxer’s Atlanta portfolio now includes five buildings totaling more than 841,000 square feet of space.
COLUMBIA, S.C. — Patel, Lewis, Pournaras LLC has acquired downtown Columbia's iconic Keenan Building, a 121,682-square-foot office property. The building is located in Columbia's central business district at 1310 Lady St. The purchasing partnership is planning a $5 million historic restoration of the property with the goal of bringing back the original 1930s and 1950s facade. The seller was Keenan Building Partnership. Neel Keenan and Henry Moore with Colliers International represented the buyer in the transaction. Patel, Lewis, Pournaras has also retained Colliers International as the leasing agent for the building.
BOWLING GREEN, OHIO — The Boulder Group has completed a sale of a 4,495-square-foot, single-tenant property located at 745 Innovation Drive in Bowling Green for $1.2 million. The Social Security Administration fully occupies the property and has more than nine years remaining on its lease. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the buyer, a 1031 tax-deferred exchange partnership based in Colorado. The seller was an individual based in Michigan.
BERNARDS TOWNSHIP, N.J. — Mack-Cali Realty Corp. has sold its four-story, 133,684-square-foot office building in Bernards Township for $18 million to The Silverman Group. The property, which is 54 percent leased, is located at 106 Allen Road in the Liberty Corner Corporate Center. The sale price represents a capitalization rate of approximately 3.8 percent.