CHICAGO — Futures broker Advantage Futures LLC has signed a 10-year lease for 41,500 square feet of office space at 231 S. LaSalle St. in Chicago’s financial district. Chicago-based Advantage will move from its 28,500-square-foot office, located at 141 W. Jackson Blvd., later this month. In addition, Advantage will retain its Business Continuity/Disaster Recovery Center in Downers Grove, Ill. as well as 10 data centers ensuring redundant connectivity and server colocation facilities.
CAMBRIDGE, MASS. — Boston Realty Advisors has arranged the sale of 39 JFK St., a landmark 20,570-square-foot retail and office building located in Cambridge’s Harvard Square, for $33.1 million. The mixed-use property was fully occupied at the time of sale. Tenants of the building include American Express, CVS/pharmacy, Kaplan, Whitney’s Café and Leo’s Place. Boston Realty Advisors represented the seller, 39 JFK LLC, and procured the buyer in the transaction.
MIAMI — Blanca Commercial Real Estate has been named the exclusive leasing agent for The Building on Ponce Circle, a 58,000-square-foot, Class A office building at 2990 Ponce de Leon Blvd. in Miami's Coral Gables business district. AJP Ventures developed the building in 2012 on behalf of a joint venture between Mas Group of Cos. and TAZ Partners LLC. The property is 62 percent occupied and tenants include Zubi Advertising, Mas Group of Cos., FirstBank Florida and LBI Media. The property includes floor-to-ceiling windows, an on-site bank and drive-thru teller and a rooftop terrace. Tere Blanca and Alison Pages of Blanca Commercial Real Estate will lead the marketing and leasing of the property.
HAWTHORNE, N.Y. — Houlihan-Parnes Realtors LLC has purchased the Skyline Plaza office building, located at 37 and 37A Saw Mill River Road in Hawthorne, for $2 million. The office property includes a 20,575-square-foot, three-story building built in 1984 and an attached 2,608-square-foot, two-story building. Together, the two buildings include 12 tenant spaces and 86 parking spaces. The property was 50 percent occupied at the time of sale. Craig Weitz and Jerry Houlihan of Houlihan-Parnes Realtors negotiated the purchase of the property from a local bank, which also provided financing with a five-year mortgage.
EL SEGUNDO, CALIF. – A 112,695-square-foot office building in El Segundo has sold to a joint venture between Bixby Land Company and Cornerstone Real Estate Advisers, LLC for an undisclosed sum. Cornerstone worked on behalf of an institutional investor. The five-story building is located at 2101 El Segundo Blvd. The JV plans to invest $10 million to reposition and lease the building to stabilization. It was completely vacant at the time of sale. Shubin + Donaldson Architects will design the new contemporary work environment. Bixby represented itself in this transaction, while the seller, The Krausz Companies, was represented by CBRE’s Bill Bloodgood.
AUSTIN, TEXAS — TPG/CalSTRS Austin LLC, an affiliate of Los Angeles-based Thomas Properties Group Inc., has sold three office properties in northwest Austin for $76 million. The office properties, which total 517,974 square feet, include Westech 360, Park Centre and Great Hills Plaza. The transaction is in line with Thomas Properties Group's strategy to dispose of its suburban office assets and concentrate on the ownership and operation of office properties in highly sought-after submarkets.
EL SEGUNDO, CALIF. – A 112,695-square-foot office building in El Segundo has sold to a joint venture between Bixby Land Company and Cornerstone Real Estate Advisers, LLC for an undisclosed sum. Cornerstone worked on behalf of an institutional investor. The five-story building is located at 2101 El Segundo Blvd. The JV plans to invest $10 million to reposition and lease the building to stabilization. It was completely vacant at the time of sale. Shubin + Donaldson Architects will design the new contemporary work environment. Bixby represented itself in this transaction, while the seller, The Krausz Companies, was represented by CBRE’s Bill Bloodgood.
CULVER CITY, CALIF. – A 30,000-square-foot industrial building in Culver City has sold to a joint venture between Industry LTD and Saber Realty Advisors for $8 million. It is located at 5900 Blackwelder Street. The JV plans to execute a multimillion-dollar capital improvement project at the facility to convert it into creative office space. The conversion will include the addition of 10,000 square feet of new mezzanine space. The seller was owner-user Burke Williams Spa. Industry Partners will handle leasing for the space.
PORTLAND, ORE. — Johnstone Supply has renewed its lease for 124,610 square feet of office and warehouse space in Portland. The facility is located at 11632 NE Ainsworth Circle. It serves as the company’s headquarters. Johnstone Supply was represented by Tyler SheilsandKevin Kriesienof Jones Lang LaSalle’s Portland office. The landlord, Industrial Income Trust, was represented by Scott Kappes of Capacity Commercial Group.
WILMINGTON AND WOBURN, MASS. — NAI Hunneman has brokered the sales of 1 Jewel Drive in Wilmington and 225 Wildwood Ave. in Woburn for $4.1 and $4.3 million, respectively. David Gilkie and Gina Barroso represented the seller, Hudson Advisors in the sale of 1 Jewel Drive, a four-building office and warehouse project, to Howland Development. The building was 55 percent leased at the time of sale. Gilkie represented the buyer, Janis Research Co. LLC, in the sale of 225 Wildwood Ave., a Class B warehouse space. Murray Hills Inc. was the seller. The building was fully leased at the time of sale.