ALGONQUIN, ILL. — Baum Realty Group LLC has arranged the sale of Randall Crossing, a two-building retail property in the Chicago suburb of Algonquin. The 27,521-square-foot building is located at 2503 – 2535 N. County Line Road and was 67 percent occupied at the time of sale. Greg Dietz, Danny Spitz and Ben Brichta of Baum’s investment sales team represented the seller. Baum also procured the buyer, an out-of-state investor, in the transaction. Tenants at the property include Men’s Wearhouse, Eye Boutique, T-Mobile and Great Clips.
OAK BROOK, ILL. — Federal Signal has signed a lease renewal for its 17,282-square-foot office in Oak Brook Regency Towers in Oak Brook, a suburb of Chicago. Federal Signal is a designer and manufacturer of products and solutions that serve municipal, government, industrial and institutional customers and has been headquartered at the property for more than 25 years. Patrick Kiefer, executive director with NAI Hiffman’s office services group, represented the landlord, American Realty Advisors, in the transaction. Jeff Liljeberg of Jones Lang LaSalle represented Federal Signal.
DALLAS — Netherland, Sewell & Associates Inc. (NSAI) and Turner Construction Co. have signed leases with Cousins Properties Inc. at 2100 Ross, an 844,000-square-foot, Class A office tower located at Ross Avenue and Pearl Street in the Dallas Arts District. The two leases will total 90,000 square feet and take up three floors of the 33-story building. The property is currently 81 percent occupied, and 130,000 square feet of the complex is still available for lease. Construction is currently underway on new amenities, such as a complimentary Pulse Fitness center, an improved conference center, updated common areas in the lobby and restaurant improvements. Bill Brokaw, Cynthia Cowen and Mark Dickenson of Cushman & Wakefield represented 2100 Ross in the two lease deals. Sanders Thompson and Alan Harrington of Transwestern represented NSAI, and Phil Puckett and Harlan Davis of CBRE represented Turner Construction.
LOS ANGELES – A 109,000-square-foot broadcast and post production facility in Los Angeles has received $20 million in acquisition financing. The facility is located at 3030 Andrita Street. It was built in 1925 as an office and industrial complex before being converted into a “plug and play,” high-definition media facility in 2002. The facility is now referred to as Andrita Studios. It is fully occupied by Encompass Digital Media Inc. Financing was provided by Karlin Real Estate Lending.
LAS VEGAS — Colonial Plaza, a 110,738-square-foot office complex in Las Vegas, has sold to MIG Real Estate for $13 million. The complex is located at 4670 & 4730 South Fort Apache Road near the 215 Beltway. MIG was represented by Colonial Plaza in this transaction. It is the firm’s sixth investment in Las Vegas commercial properties.
TEMPE, ARIZ. — Warner Business Center, a 321,000-square-foot flex/office building in Tempe, has sold to a joint venture between ViaWest Group and Contrarian Capital Management, LLC for an undisclosed sum. The seven-building center was purchased through a credit bid at the trustee sale. The JV purchased the debt and completed the foreclosure process. The center is located at 1121, 1131, 1221, 1231, 1241 West Warner Road, and 8905, 8930 South Beck Ave. It is 67 percent occupied.
SCOTTSDALE, ARIZ. — Mesquite Corporate Center, a 79,537-square-foot office building in Scottsdale, has sold to Waittcorp Real Estate, LLC, for $15.2 million. The Class A building is located at 14646 North Kierland Blvd. The center overlooks a nine-hole golf course that is part of the Kierland Golf Club, which is attached to the Westin Kierland Resort & Spa. Mesquite was 96 percent occupied at the time of sale. The seller, DPC Development Company, an entity of DPC Development Company, was represented by CBRE’s Barry Gabel, Chris Marchildon and Mindy Korth. Waittcorp represented itself in this transaction.
TEMPE, ARIZ. — Warner Business Center, a 321,000-square-foot flex/office building in Tempe, has sold to a joint venture between ViaWest Group and Contrarian Capital Management, LLC for an undisclosed sum. The seven-building center was purchased through a credit bid at the trustee sale. The JV purchased the debt and completed the foreclosure process. The center is located at 1121, 1131, 1221, 1231, 1241 West Warner Road, and 8905, 8930 South Beck Ave. It is 67 percent occupied.
SCOTTSDALE, ARIZ. — Mesquite Corporate Center, a 79,537-square-foot office building in Scottsdale, has sold to Waittcorp Real Estate, LLC, for $15.2 million. The Class A building is located at 14646 North Kierland Blvd. The center overlooks a nine-hole golf course that is part of the Kierland Golf Club, which is attached to the Westin Kierland Resort & Spa. Mesquite was 96 percent occupied at the time of sale. The seller, DPC Development Company, an entity of DPC Development Company, was represented by CBRE’s Barry Gabel, Chris Marchildon and Mindy Korth. Waittcorp represented itself in this transaction.
SEATTLE — The Central Building, a 191,784-square-foot office building in Seattle, has sold to KBS Strategic Opportunity REIT for $34.5 million. The Class B+ building is located at 810 3rd Ave. in the city’s Central Business District. It was originally built in 1907 and received its historic landmark designation in 2008 after a five-year renovation period.KBS Strategic Opportunity REIT also owns the nearby 326,384-square-foot Bellevue Technology Center. The REIT is sponsored indirectly by Charles J. Schreiber,Jr., Peter Bren, Keith Hall and Peter McMillan III.It is advised by KBS Capital Advisors LLC, an affiliated entity that is indirectly owned and controlled by KBS Strategic Opportunity REIT’s sponsors.