LOCKBOURNE, OHIO — CME Wire and Cable Inc. has signed an 84,616-square-foot lease at CreekSide Parkway, Suite 400 in Lockbourne, located 15 miles south of Columbus. The company outgrew its current building at the CreekSide Industrial Center and will move into the new office and warehouse building, which The Pizzuti Cos. is constructing, in April 2014. CME Wire and Cable is a subsidiary of XIGNUX Group, a 50-year-old firm, with more than 20,000 employees in North and South America and revenues exceeding $3.2 million. The wire distribution company opened its North American headquarters in Georgia in 1998, when it relocated from South Carolina. The company’s other distribution centers are located in California, Illinois and Texas. Cresa represented CME Wire and Cable Inc. in the lease transaction.
NEW YORK CITY — RFR Realty LLC has secured three new office leases totaling 11,040 square feet at 17 State Street, a 42-story office tower in Lower Manhattan. Internet consulting and development provider Six Dimensions signed a 4,507-square-foot lease on the fourth floor of the tower, while startup trading firm FDN Enterprises LLC and money manager Granger Management Holdings LLC took 3,270 square feet on the 38th floor and 3,263 square feet on the 32nd floor, respectively. Asking rents at the Class A property are close to $60 per square foot, according to RFR Realty. Designed by Emery Roth & Sons in 1988, 17 State Street features a curved glass facade and 15,000-square-foot boutique floors. Andrew Simon of Colliers International and Peter Wloch of Empire Properties New York represented Six Dimensions in the transaction. Arkady Smolyansky and Ben Friedland of CBRE represented FDN Enterprises LLC. Whitten Morris of Cushman & Wakefield oversaw the lease transaction on behalf of Granger Management Holdings. Steve Morrows, A.J. Camhi and Ryan Silverman represented the ownership in-house.
ROXBURY, N.J. — NAI James E. Hanson has arranged the $790,000 sale of an 8,223-square-foot office building at 195 Route 206 South in Roxbury. Joseph Vindigni of NAI James E. Hanson represented the seller, PETEC, and secured the buyer, KCKJ EAST, in the transaction. The space is partially occupied by the sales and administrative offices of Delta Cooling Towers. NAI Hanson has been retained as the leasing agent for the remaining space. Located on 1.4 acres, the two-story building features basement space, alarm and in-ground sprinkler systems, a two-bay garage and 37 parking spaces.
HOUSTON — AEW Capital Management, a Boston-based real estate investment firm, has purchased Eldridge Oaks, a 350,000-square foot office building and an adjacent seven-acre lot in Houston’s Energy Corridor. The 14-story, Class A facility was 100 percent leased at time of sale. A second building of similar size is under consideration for the currently empty parcel, but no construction plans have yet been released. The seller is a joint venture that includes Hartford, Conn.-based Cornerstone Real Estate Advisers LLC acting on behalf of an institutional client.
LAS VEGAS – A 47,501-square-foot medical and professional office building in Las Vegas has sold to MVP REIT Inc. $15 million. The building is part of a five-property portfolio that was recently acquired by the firm for $48.6 million. The Las Vegas asset is located at 8930 W. Sunset Road. It was built in 2008 and is 90 percent occupied by a mix of medical and professional tenants. Each tenant is bound by a triple-net lease that includes a five- to 10-year remaining term.
AZUSA, CALIF. — Xebec Realty Partnershas announced its plans to develop a $33-million, 330,000-square-foot industrial business park in Azusa. The park will be located at 1001 N. Todd Ave. It will be referred to as 10th Street Center. Construction on the Class A office park is set to commence in the fourth quarter of 2013. It is scheduled for completion in the fourth quarter of 2014. Leasing efforts are being handled by Peter McWilliams,Paul SablockandNicole Pageof Jones Lang LaSalle Los Angeles.
ST. PETERSBURG, FLA. — A joint venture between affiliates of Feldman Equities, Tower Realty Partners and Second City Capital Partners, has acquired a 17-story, 187,000-square-foot office building in downtown St. Petersburg for $20 million. The Class A office building, formerly known as Wells Fargo Plaza, is located at 150 Second Ave. North. In June, Wells Fargo vacated its 22,000-square-foot office at the property, dropping the building's occupancy to 65 percent. Larry Feldman of Feldman Equities will spearhead leasing and redevelopment efforts at the property, and Tower Realty Partners will handle management responsibilities. Dale Peterson of CBRE's Tampa office arranged the deal. This is the second acquisition in downtown St. Petersburg for the joint venture. About two years ago, the joint venture bought the 242,000-square-foot City Center office building. The property, which was 44 percent occupied at the time of purchase, is now 94 percent occupied.
LAKE MARY, FLA. — McKinley, an Ann Arbor, Mich.-based real estate owner and operator, has sold Lake Emma Corporate Park, a 245,000-square-foot office complex in Lake Mary, approximately 20 miles north of Orlando. McKinley was appointed as receiver in August 2011 and was subsequently retained as property manager. During its time as manager, McKinley successfully negotiated a tax appeal, completed an extensive HVAC replacement, increased occupancy, reduced operating costs and enhanced the overall property appearance.
NEW YORK CITY — Meridian Capital Group LLC has arranged a $10.7 million loan for the purchase of an office and industrial property in Brooklyn. The four-story, 90,000-square-foot building is located at 168 Seventh St. The seven-year loan features a fixed interest rate of 3.9 percent. A regional balance sheet lender provided the loan. Shamir Seidman of Meridian Capital arranged the loan. Tenants at the building include the Mac Support Store and Aqua Design Group.
NEW YORK CITY — Pacific College of Oriental Medicine has signed a 42,000-square-foot, 15-year office lease at 110 William St. in Brooklyn. The educational institution for East Asian medicine will occupy the entire 19th floor, plus a portion of the ground floor. Jonathan Dean, senior vice president and director of commercial leasing for Swig Equities, represented the landlord in the transaction. Mark Weiss, Robert Eisenberg and Nick Berger from Newmark Grubb Knight Frank represented the tenant. The 32-story office building spans 900,000 square feet and was 99 percent leased at the time of sale.