OAKBROOK TERRACE, ILL. — Sperry Van Ness Chicago Commercial has arranged the sale of a 13,105-square-foot office condominium for $1.3 million, or $102 per square foot. The office condo, which is located at One Trans Am Plaza in Oakbrook Terrace, a western suburb of Chicago, was sold via bank directed short sale. The buyer is a technology company, which will use the space for its Chicago operations. Wayne Caplan and Olivia Czyzynski of Sperry Van Ness represented the seller in the transaction.
BOSTON — Cassidy Turley has been retained as the leasing agent for 177 Huntington Avenue in Boston’s Back Bay neighborhood. BCSP VI Huntington Property LLC acquired a long-term ground leasehold interest in the 207,000-square-foot building in August 2012 and is partnering with Cassidy Turley to secure tenants for the 26-story office tower. The building is currently being renovated and will include an updated lobby with new flooring, seating areas, signage, security desk and a coffee bar. Duncan Gratton, senior managing director and principal, and Lauria Brennan, senior vice president, of Cassidy Turley will represent the building’s owner in upcoming transactions.
FRISCO, TEXAS — Hall Financial Group has signed Con-way Multimodal to a 9,821-square-foot lease in the 2 million-square-foot Hall Office Park. The freight brokerage firm's office is located at 2611 Internet Blvd. in Frisco. The lease deal includes a 3,240-square-foot expansion and an extension for the 6,581-square-foot current lease. Kim Butler, Tammy Nellis and Brad Gibson were the in-house representation for Hall Financial Group in the lease deal.
SANTA BARBARA, CALIF. – A 6,357-square-foot building that is known as the “Old Firehouse” in Santa Barbara has sold to US 3N LLC for $16 million. It is located at 1486 East Valley Road in the Santa Barbara submarket of Montecito. The building is occupied by Union Bank, which recently acquired Santa Barbara Bank & Trust (SBBT). SBBT held a 20-year master lease on the property that commenced in 2009. Bill Bauman, Kyle Miller and Marc Navarro of Studley’s National Retail Services Group represented both the buyer and the seller, 1486 East Valley Road, in this transaction.
WALTHAM, MASS. — Compuware has signed a 68,145-square-foot office lease at 404 Wyman St. in Waltham, a western suburb of Boston. Compuware, which provides information technology software and services, will occupy a portion of the fifth floor of the Class A, 449,000-square-foot office building. The company will consolidate its offices at 10 Maguire Road in Lexington (approximately 54,000 square feet) and 400 Totten Pond Road in Waltham (approximately 15,000 square feet) at the new location. Shawn McDonough, Joe Sciolla and Andrew Orpik of Cresa Boston, along with Cameron McCausland of Cresa Detroit and Anne Coggeshall of Cresa Denver, represented Compuware in the transaction. Chip Batcheler of Wyman Street Advisors represented the landlord, Hobbs Brook Management. Barry Dubé and Amy Braun of Cresa Boston will provide project management services for Compuware’s move-in, which is slated for this fall. Boston-based CBT will provide interior design and furniture specification services for the move.
EAST SETAUKET, N.Y. — Massachusetts-based GSI Group Inc. has sold 41 Research Way, a 65,000-square-foot office and research and development facility in East Setauket, for $4.5 million. Tritec Real Estate Co. Inc. purchased the facility, which is located at a 1 million-square-foot complex on the north shore of Long Island. Ray Ruiz, executive vice president, Marianne Dugan, vice president, and Doug Seale, associate, along with Tamie Thompson and Rick Fahey, managing directors, of Jones Lang LaSalle represented the seller. Robert Kent, vice president and general counsel represented the buyer in-house. The partial two-story 41 Research Way building is the former headquarters of Quantronix Inc., a subsidiary of GSI Group.
METAIRIE, LA. — Holliday Fenoglio Fowler has brokered the sale of Lakeway Center, a three-building, 1.2 million-square-foot office complex located in the New Orleans suburb of Metairie. Lakeway Center comprises three Class-A buildings situated on the shore of Lake Pontchartrain. The complex is 90.5 percent occupied by a tenant roster that includes People’s Health Network, Drug Enforcement Administration, EDG and Fresenius Medical Care. Holliday Fenoglio Fowler represented the seller, Equity Office Properties. The buyer was The Feil Organization. The acquisition price was undisclosed.
YELLOW SPRINGS, OHIO — GA Keen Realty Advisors has been retained by The Antioch Co. LLC to market and sell the company’s former headquarters in Yellow Springs through a bankruptcy sale process. The 95,062-square-foot building features 66,574 square feet of warehouse space and 26,823 square feet of office space. Currently, two tenants occupy a total of 20,555 square feet and produce annual rental income of approximately $250,000. Located at 888 Dayton St., the property is less than 20 miles northeast of Dayton.
BEDFORD, MASS. — Nordblom Co. has acquired 201 Burlington Road in Bedford for $5.6 million. The property includes two connected office buildings totaling 135,000 square feet on 9.3 acres. Renovations will include a new metal façade, window system and HVAC system.
ROLLING MEADOWS, ILL. — A joint venture between GlenStar Properties and Walton Street Capital has closed on its purchase of Continental Towers, which includes three suburban office towers and a small retail property. The purchase price was $58.8 million, or about $65 per square foot, according to the CoStar Group. The four-building property at 1701 Golf Road in Rolling Meadows, located about 28 miles northwest of Chicago, totals 911,000 square feet and was approximately 40 percent vacant at the time of sale. The joint venture, which acquired the property from special servicer CWCapital, is planning an $8 million renovation, including an overhaul of the parking lot, landscaping and lobbies. Brian Nagle and Jerrod Wigal of Colliers International represented the seller in the transaction.
