FORT MYERS, FLA. — LandQwest Commercial has brokered the sale of a former Iberia bank branch in Fort Myers for $1.2 million. The two-story, Class A office building is located at 2225 First St. and contains 7,981 square feet of space. LandQwest’s Bryan Myers represented the undisclosed seller in the deal. The buyer was Palm Lee Properties.
RICHARDSON, TEXAS — KDC has begun construction on its 186-acre, $1.5 billion master-planned community in Richardson. The development is located near the intersection of President George Bush Turnpike and North Central Expressway. State Farm will lease 1.5 million square feet in three of the towers at the new development. The three Class A buildings include a 13-story, 15-story tower and 21-story towers, which are all situated on five-level parking structures and include ground-floor retail space. Once completed, State Farm will have the capacity to employ 8,000 staffers. Randy Cooper and Craig Wilson of Cassidy Turley represented State Farm in the lease transaction. Austin Commercial is the general contractor of the development, and Corgan Architects is providing design services for both the shell and interior of the properties. Including the three towers, the development will consist of 5 million square feet of office space, 300,000 square feet of grocery, retail and restaurant space, 3,925 multifamily units and two hotels. KDC is pursuing LEED Silver certification for the office towers, which are slated for occupancy in early 2015.
CLEAR LAKE, TEXAS — Moody Rambin has arranged the sale of three properties — two office buildings and one flex building — totaling 130,000 square feet in Clear Lake. The properties are located at 16840 and 16850 Buccaneer Lane and 1045 Gemini St. Northden Holdings LLC purchased the properties from CEF Funding LLC. Rob Chandler of Moody Rambin represented the seller in the transaction.
SAN FRANCISCO — Uber Technologies has signed a 10-year lease for 88,134 square feet at 1455 Market Street in San Francisco’s Mid-Market district. The affordable luxury transportation provider will backfill space currently occupied by the property’s largest tenant. That lease was scheduled to expire in 2017. Uber’s new lease will commence in the first quarter of 2014. It will occupy the entire fourth floor of the 1,012,012-square-foot, Class A office building. The landlord is Hudson Pacific Properties.
MARYLAND — St. John Properties has unveiled plans to begin construction on 10 office, R&D/flex and retail projects at six Maryland business communities by mid-September. The projects total 250,000 square feet and will be built on speculative basis with no pre-leasing commitments. The projects include: two flex office buildings on Easter Court in Owings Mills; a 12,675-square-foot retail building and a 14,280-square-foot office building in nearby Reistertown Crossing in Reistertown; an 8,125-square-foot retail building at 4001 N. Point Blvd. in Dundalk; a 24,190-square-foot office building at Route 100 Technology Center and a 13,325-square-foot retail building at BWI Technology Park, both located near Baltimore-Washington International Airport; and three one- and two-story office buildings totaling 100,000 square feet located within Annapolis Commons. Earlier this year, St. John commenced construction on five office, flex and retail buildings in Maryland totaling more than 320,000 square feet.
CHERRY HILL, N.J. — Endurance Real Estate Group LLC has acquired the Colwick Business Center, a three-building office portfolio located at 53, 55 and 57 Haddonfield Road in Cherry Hill. The 171,215-square-foot building is currently 53.7 percent occupied by eight tenants. Endurance acquired the portfolio from a special servicer who led the disposition effort on behalf of a CMBS lender that foreclosed on the property in early 2012. The property was constructed in 1987 and features private 24/7 access to each tenant suite. Jason Wolf, Leor Hemo and Christina Del Duca of Wolf Commercial Real Estate represented Endurance in the transaction.
BASKING RIDGE, N.J. — The Silverman Group has acquired The Offices at Liberty Corner, a three-building, 525,000-square-foot campus in Basking Ridge, 25 miles west of Newark. The purchase price was undisclosed. The 133,000-square-foot, 106 Allen Road features a new coffee/food kiosk, renovated common areas and other building improvements. The 190,000-square-foot 150 Allen Road includes a fitness center and conference space. At the 202,000-square-foot 110 Allen Road a second fitness center is planned, as well as café upgrades. The campus will also feature new park signage throughout. Bill Brown and Ben Brenner of Cushman & Wakefield will lead leasing assignments for the entire campus.
JERSEY CITY, N.J. — Bayonne Medical Center has signed a 36,624-square-foot lease at 10 Exchange Place in Jersey City. The 748,000-square-foot Class A office building includes access to Exchange Place Path Station and is located near the Hudson-Bergen Light Rail. Bayonne Medical will occupy the entire 15th floor, which will serve as its administrative offices. Jamie and Matthew Weiss of Weiss Realty represented the tenant in the transaction. Cushman & Wakefield represented the sublandlord, Rabo Support Services.
AUSTIN, TEXAS — CBRE’s Austin office has brokered the sale of 717 Parmer, a Class A office property in Austin, to Gladstone Commercial Co. The Virginia-based REIT purchased the 320,000-square-foot office property for an undisclosed price. The four-story complex sits on 23 acres of land, and offers parking, three volleyball courts and raised flooring. General Motors fully leases 717 Parmer.
SAN FRANCISCO — Uber Technologies has signed a 10-year lease for 88,134 square feet at 1455 Market Street in San Francisco’s Mid-Market district. The affordable luxury transportation provider will backfill space currently occupied by the property’s largest tenant. That lease was scheduled to expire in 2017. Uber’s new lease will commence in the first quarter of 2014. It will occupy the entire fourth floor of the 1,012,012-square-foot, Class A office building. The landlord is Hudson Pacific Properties.