SCOTTSDALE, ARIZ. – Construction has commenced on the third office building at SkySong, the ASU Scottsdale Innovation Center. The 145,000-square-foot SkySong III will be located along SkySong Boulevard. Arizona State University (ASU) will lease one and a half of the building’s four floors. Existing tenant WebFilings will also expand its presence at the property by leasing a full floor of the new building. Plaza Companies has also signed a lease at SkySong III. With these leases already in place, the new building has reached 65 percent occupancy before construction even began. The $32-million building is being developed by Plaza Companies in partnership with the Arizona State University Foundation and the City of Scottsdale. Holualoa Companies has also partnered with Plaza Companies on this project. Financing is provided by Alliance Bank of Arizona.
IRVINE, CALIF. — California State University, Fullerton (CSUF) has purchased Banting Corporate Center in Irvine for $30.5 million. The two-building center is located at 1 and 3 Banting. It contains a total of 140,000 square feet on 12.35 acres. CSUF signed a seven-year lease for 70,000 square feet at the center in 2010. The university plans to eventually occupy the entire property as other leases expire. This will allow CSUF to double the size of its Irvine campus branch. CSUF’s Auxiliary Services Corporation was represented by CBRE’s Peter Andrichand Gregg Haly.
NEW YORK CITY — Northwood Investors, a privately held global real estate investment firm, has purchased 100 Broadway, a 24-story office building in Manhattan. The purchase price was undisclosed. Located on the southeast corner of Broadway and Pine Street, the historic downtown office building includes two floors of retail and 22 office level floors. The property features 360,000 square feet of office, as well as 40,000 square feet of retail. Brookfield Financial, a global investment bank and real estate investment sales firm, arranged the off-market transaction.
BLUE BELL, PA. — An affiliate of Endurance Real Estate Group LLC has acquired 960 Harvest Drive, a three-building suburban office portfolio in Blue Bell, for $4.1 million. The portfolio includes one single-story and two two-story buildings totaling 129,430 square feet. Endurance acquired the largely vacant portfolio from a REIT. Constructed in 1988, the portfolio features single- or multi-tenant floor plans with parking surrounding the buildings. The Bala Cynwyd, Pa.-based owner and developer plans to upgrade the building systems and renovate the lobbies and common areas. Endurance will also address deferred maintenance of the parking lots, landscaping and signage. The company has hired John Susanin and Kyle Hilbert of Colliers International to lease the portfolio.
IRVINE, CALIF. — California State University, Fullerton (CSUF) has purchased Banting Corporate Center in Irvine for $30.5 million. The two-building center is located at 1 and 3 Banting. It contains a total of 140,000 square feet on 12.35 acres. CSUF signed a seven-year lease for 70,000 square feet at the center in 2010. The university plans to eventually occupy the entire property as other leases expire. This will allow CSUF to double the size of its Irvine campus branch. CSUF’s Auxiliary Services Corporation was represented by CBRE’s Peter Andrich and Gregg Haly.
TAMPA, FLA. — Ciminelli Real Estate Services has secured two new lease agreements for 14,802 square feet of office space at One Amerilife Place in Tampa's North Pinellas/Clearwater submarket. Winkler, Treger and Associates LLC will occupy 3,686 square feet and Vogue International Inc. will occupy 11,113 square feet. Judy Healey of Ciminelli Real Estate Services represented the landlord in both transactions. Deron Thomas of Industrial Realty Solutions Inc. represented Vogue International in its lease deal.
LEONIA, N.J. — Leonia Data Center, a 67,000-square-foot data facility in Leonia, has sold for $14.7 million. In the transaction, Sean Brady and Grace Braverman of Cushman & Wakefield represented Server Farm Realty in the property’s acquisition from Cole Realty Group, which was represented by CBRE. The property was then acquired by Carter Validus Mission Critical, a Florida-based non-traded REIT, for a final sale price of $14.7 million, or more than $220 per square foot. Infocrossing Inc., a wholly owned subsidiary of Wipro, occupies the facility on a long-term basis. The two-story building includes first-floor data center space with more than 25,000 square feet of raised floor white space, and office space on the second floor. The property is located at 2 Christie Heights, about 27 miles east of Parsippany.
MEDFORD, MASS. — Management Sciences for Health (MSH) has signed a 10-year, 40,475-square-foot lease at 200 River’s Edge Drive, a LEED Gold-certified office and lab building in Medford. The building, which is located about five miles northwest of Boston, is now fully occupied. MSH is a private, nonprofit international organization working in public health areas to strengthen healthcare management and improve access to critical healthcare in the world’s poorest areas. The organization is relocating its corporate headquarters from Cambridge later this year. Steven Purpura, managing partner, and senior vice presidents Eric Smith and Ron Friedman of Richards Barry Joyce & Partners represented the landlord, Preotle, Lane & Associates Ltd., in the transaction. Ted Lyon and Chris Walsh of Cassidy Turley represented MSH.
BOSTON — Cresa Boston has managed the build-out and project management services for Zipcar’s new corporate headquarters in the Fort Point district of south Boston. Zipcar, a vehicle-sharing service that rents cars by the hour, is relocating from a 35,000-square-foot building at 25 First St. in Cambridge, to the 46,000-square-foot, six-story property at 35 Thomson Place. Chris Crooks, Adam Subber and Dan Sullivan of Cresa provided the transaction management services, which included planning, vendor selection, design and construction management. Janet Morra of Margulies Perruzzi Architects led the design team. Wise Construction, led by Tom Healy, provided pre-construction and construction management services. Dan Moody of W.B. Engineers led the engineering services component. Crosspoint Associates Inc. is the property manager of the building.
MCKINNEY, TEXAS — VanTrust Real Estate LLC has started construction on a 120,000-square-foot speculative office development in the Craig Ranch mixed-use community of McKinney, a northern suburb of Dallas. The building, designed by architects O’Brien & Associates, is the first phase of a larger planned office park to be known as McKinney Corporate Center. MYCON General Contractors has been awarded the design-build contract for the project. Burson Holman and Shannon Brown of CBRE Dallas will represent owner VanTrust in leasing the building.