SANTA BARBARA, CALIF. – A 6,357-square-foot building that is known as the “Old Firehouse” in Santa Barbara has sold to US 3N LLC for $16 million. It is located at 1486 East Valley Road in the Santa Barbara submarket of Montecito. The building is occupied by Union Bank, which recently acquired Santa Barbara Bank & Trust (SBBT). SBBT held a 20-year master lease on the property that commenced in 2009. Bill Bauman, Kyle Miller and Marc Navarro of Studley’s National Retail Services Group represented both the buyer and the seller, 1486 East Valley Road, in this transaction.
WALTHAM, MASS. — Compuware has signed a 68,145-square-foot office lease at 404 Wyman St. in Waltham, a western suburb of Boston. Compuware, which provides information technology software and services, will occupy a portion of the fifth floor of the Class A, 449,000-square-foot office building. The company will consolidate its offices at 10 Maguire Road in Lexington (approximately 54,000 square feet) and 400 Totten Pond Road in Waltham (approximately 15,000 square feet) at the new location. Shawn McDonough, Joe Sciolla and Andrew Orpik of Cresa Boston, along with Cameron McCausland of Cresa Detroit and Anne Coggeshall of Cresa Denver, represented Compuware in the transaction. Chip Batcheler of Wyman Street Advisors represented the landlord, Hobbs Brook Management. Barry Dubé and Amy Braun of Cresa Boston will provide project management services for Compuware’s move-in, which is slated for this fall. Boston-based CBT will provide interior design and furniture specification services for the move.
EAST SETAUKET, N.Y. — Massachusetts-based GSI Group Inc. has sold 41 Research Way, a 65,000-square-foot office and research and development facility in East Setauket, for $4.5 million. Tritec Real Estate Co. Inc. purchased the facility, which is located at a 1 million-square-foot complex on the north shore of Long Island. Ray Ruiz, executive vice president, Marianne Dugan, vice president, and Doug Seale, associate, along with Tamie Thompson and Rick Fahey, managing directors, of Jones Lang LaSalle represented the seller. Robert Kent, vice president and general counsel represented the buyer in-house. The partial two-story 41 Research Way building is the former headquarters of Quantronix Inc., a subsidiary of GSI Group.
METAIRIE, LA. — Holliday Fenoglio Fowler has brokered the sale of Lakeway Center, a three-building, 1.2 million-square-foot office complex located in the New Orleans suburb of Metairie. Lakeway Center comprises three Class-A buildings situated on the shore of Lake Pontchartrain. The complex is 90.5 percent occupied by a tenant roster that includes People’s Health Network, Drug Enforcement Administration, EDG and Fresenius Medical Care. Holliday Fenoglio Fowler represented the seller, Equity Office Properties. The buyer was The Feil Organization. The acquisition price was undisclosed.
YELLOW SPRINGS, OHIO — GA Keen Realty Advisors has been retained by The Antioch Co. LLC to market and sell the company’s former headquarters in Yellow Springs through a bankruptcy sale process. The 95,062-square-foot building features 66,574 square feet of warehouse space and 26,823 square feet of office space. Currently, two tenants occupy a total of 20,555 square feet and produce annual rental income of approximately $250,000. Located at 888 Dayton St., the property is less than 20 miles northeast of Dayton.
BEDFORD, MASS. — Nordblom Co. has acquired 201 Burlington Road in Bedford for $5.6 million. The property includes two connected office buildings totaling 135,000 square feet on 9.3 acres. Renovations will include a new metal façade, window system and HVAC system.
ROLLING MEADOWS, ILL. — A joint venture between GlenStar Properties and Walton Street Capital has closed on its purchase of Continental Towers, which includes three suburban office towers and a small retail property. The purchase price was $58.8 million, or about $65 per square foot, according to the CoStar Group. The four-building property at 1701 Golf Road in Rolling Meadows, located about 28 miles northwest of Chicago, totals 911,000 square feet and was approximately 40 percent vacant at the time of sale. The joint venture, which acquired the property from special servicer CWCapital, is planning an $8 million renovation, including an overhaul of the parking lot, landscaping and lobbies. Brian Nagle and Jerrod Wigal of Colliers International represented the seller in the transaction.
BLUE ASH, OHIO — Catholic Health Partners has signed two leases at 4600 McAuley Place, an office building in the Cincinnati suburb of Blue Ash. The locally based health system signed a five-year lease for 12,107 square feet and an 11-month lease for an additional 9,098 square feet. The leases total 21,205 square feet, taking up 90 percent of the building’s space. McAuley Place was built in 2001 and is located near I-71 and I-275. Chambers Street Properties recently acquired full ownership of the asset.
PARSIPPANY, N.J. — Vision Equities LLC has sold its interest in a 150,500-square-foot Class A office property in Parsippany to Cole Corporate Income Trust Inc. for $32.4 million. The property is located at 299 Jefferson Road. Vision Equities will continue to provide asset/ property management for the building, which serves as a corporate headquarters for Evonik Degussa Co.
MESA, ARIZ. – An 18,928-square-foot medical office building in Mesa has sold to Campus Professional Plaza, LLC for $5.9 million. The Class B building is located at 1220 South Higley Road on the campus of Phoenix Children’s Specialty and Urgent Care East Valley Center. It was 92.7 percent leased at the time of sale. Campus was represented by Paul Christ of Newport Beach. The seller, Ensemble, LLC, was represented by Mike Coover and Thomas Weinhold of Cassidy Turley Arizona.