BELLEVUE, WASH. — Sharp Electronics Corporation has leased 13,472 square feet at Ridgewood Corporate Square office complex in Bellevue. The seven-building, Class A park is located at 120th Avenue NE. Sharp was represented by Tom Wilson of Cushman and Wakefield. The seller, was represented by CBRE’s Scott Davis.
LAS VEGAS – The 41-year-old former Las Vegas City Hall has completed its transformation into the new Zappos headquarters. The online retailer will now be based at 400 E. Stewart Ave. in Downtown Las Vegas. Zappos purchased the building for $18 million. The company was formerly based in nearby Henderson after relocating to Nevada from San Francisco in 2004. The creative office space was designed to LEED-Gold specifications. The $60-million renovation began in August 2012. It was carried out by The PENTA Building Group.
NASHVILLE, TENN. — The CMT Building, an iconic office tower anchored by Country Music Television (CMT) in downtown Nashville, has sold for $11.2 million. Commerce Street Nashville Partnership purchased the 114,038-square-foot, Class A office tower, located at 330 Commerce St. CMT, a wholly owned subsidiary of Viacom, recently signed a seven-year lease renewal for its 86,000-square-foot stake in the building. Cushman & Wakefield | Cornerstone represented the seller, Wells Real Estate Funds, in the transaction.
STRATFORD, CONN. — Corporate Display Specialties (CDS) has relocated its offices, assembly and storage space to 60 Watson Blvd. in Stratford. The company, which is presently located in Stratford, will relocate to 8,074 square feet in the 81,000-square-foot building. Bruce Wettenstein, partner with Vidal/Wettenstein LLC, represented the owner, Blase Management, and CDS in the transaction. Since 1983, CDS has been a provider of trade show displays and exhibits.
HOUSTON — Cousins Properties, an Atlanta-based REIT, has closed a $189 million non-recourse mortgage for Post Oak Central, a Class A office complex in Houston’s Galleria submarket. Originally purchased by Cousins in February for $233 million, the property comprises three towers totaling 1.3 million square feet. The buildings are currently 94 percent occupied, up from 92 percent at the time of sale. The mortgage, which was announced in conjunction with another closed for an Atlanta-area Cousins property, entails a seven-year term and a fixed rate of 4.26 percent. HFF arranged the terms.
HOUSTON — Colliers International has brokered the sale of Oak Park Plaza, a three-story office building totaling 53,000 square feet in the master-planned Oak Park at Westchase development of Houston. Located at 6051 N. Course Drive and in close proximity to Beltway 8, the property is LEED Silver certified. David Carter and Jay Kyle of Colliers represented the seller, WYAK Investments LLC, in the transaction. The buyer was a financial institution that will also occupy part of the facility.
LAS VEGAS – The 41-year-old former Las Vegas City Hall has completed its transformation into the new Zappos headquarters. The online retailer will now be based at 400 E. Stewart Ave. in Downtown Las Vegas. Zappos purchased the building for $18 million. The company was formerly based in nearby Henderson after relocating to Nevada from San Francisco in 2004. The creative office space was designed to LEED-Gold specifications. The $60-million renovation began in August 2012. It was carried out by The PENTA Building Group.
BLOOMINGTON, MINN. — Ryan Cos. US Inc. has begun construction on a $25 million addition to The Toro Co.’s Bloomington headquarters. The three-story add-on will span 75,000 square feet and be completed by the summer of 2014. Ryan Cos. is leading the construction project, which will give the lawn mower company more office space and additional room for testing and new product development. The facility is located 8111 Lyndale Ave., about 11 miles south of Minneapolis.
PHILADELPHIA — PCCP LLC has provided $80 million in senior loans to a joint venture between Keystone Property Group and Mack-Cali Realty Corp. The loans were for a portfolio of four office properties located in the metro Philadelphia area. Mack-Cali Realty Corp. previously owned and managed the properties and is selling the portfolio to Keystone Property Group. Mack-Cali will retain an equity investment in each of the properties sold, and Keystone will manage future property operations. Properties in the portfolio include 4 & 5 Sentry Park, three buildings totaling 200,000 square feet in Blue Bell; 150 Monument Road, a 125,000-square-foot, Class A building in Bala Cynwyd; Rose Tree Corporate Center, two buildings totaling 260,000 square feet in Media; and 1000 Madison, a 100,000-square-foot office building in Lower Providence.
CHERRY HILL, N.J. —Benefits Consultants Group Inc., has signed a 21,000-square-foot lease at a Class A office building in Cherry Hill. The 100,000-square-foot office building is located at 51 Haddonfield Road. A joint venture between Bergman Real Estate Group and Time Equities Inc. purchased the property in 2012. Since the acquisition, the joint venture has upgraded areas of the property, including the parking lot and lobby. Anne Klein, senior managing director, and Brian Sherlock, director at Newmark Grubb Knight Frank, represented ownership in the transaction. Ken Clyman of Ken Clyman Realty and Klein co-brokered the transaction on behalf of Benefits Consultants Group.