SAN JOSE, CALIF. – The San Jose Evergreen Community College District has purchased a 36,363-square-foot office building in Downtown San Jose for $4.3 million. The building is located at 40 South Market Street. The district will soon relocate its administrative services to the new facility from its southeast San Jose office on San Felipe Road. The building was 60 percent vacant at the time of sale. The district will occupy more than 22,000 square feet of this vacant space. It plans to absorb additional space once the remaining leases expire. The seller, Sleepy Hollow Investment Management, was represented by Michael Speers of Cassidy Turley, and Duffy D’Angelo and Dave Schmidt of Colliers International.
ALAMEDA, CALIF. — The Girl Scouts of Northern Californiahas leased 20,688 square feet at the Harbor Bay Business Park in Alameda. The Class A building is located at 1650 Harbor Bay Parkway. The organization will be relocating from 7700 Edgewater Drive in Oakland to its new space in May. The Girl Scouts were represented by Barry Cohn, David Englert and Mel Harrison of Cassidy Turley. The landlord, Worthington California Investments, was represented by John Dolby and Michael Raffetto, also of Cassidy Turley.
REDWOOD CITY, CALIF. — Storm8 has leased a 50,305-square-foot building inside Redwood City’s Bayshore Technology Park. The Class A building is located at 1000 Bridge Parkway. The social games developer was represented by Erich SollmanofCassidy Turley. The park’s owner, Harvest Properties, was represented by MikeMoran, Ben Paul, RandyArrillaga, andRandy Keller, also of Cassidy Turley.
HOUSTON — Colliers International has arranged the sale of a 19,006-square-foot office building, located at 1712 Pease St. in Houston. The property's asking price was $4.8 million. Sara McMurray of Sara McMurray Interests represented the buyer, Marion Montgomery Properties Inc., in the transaction. Ashley Yoder and Walker Ryan of Colliers represented the seller, CAS Group LLC.
HOUSTON — Transwestern's Houston office has been awarded the leasing and marketing assignment for a planned, 32-acre office park in Houston's Energy Corridor. The 3 million-square-foot park is an investment of CORE Real Estate, a Houston-based office developer. The site is located adjacent to MD Anderson's 34-acre medical campus in west Houston. David Baker and Eric Anderson of Transwestern will market and lease the property.
ALAMEDA, CALIF. — The Girl Scouts of Northern Californiahas leased 20,688 square feet at the Harbor Bay Business Park in Alameda. The Class A building is located at 1650 Harbor Bay Parkway. The organization will be relocating from 7700 Edgewater Drive in Oakland to its new space in May. The Girl Scouts were represented by Barry Cohn, David Englert and Mel Harrison of Cassidy Turley. The landlord, Worthington California Investments, was represented by John Dolby and Michael Raffetto, also of Cassidy Turley.
REDWOOD CITY, CALIF. — Storm8 has leased a 50,305-square-foot building inside Redwood City’s Bayshore Technology Park. The Class A building is located at 1000 Bridge Parkway. The social games developer was represented by Erich Sollman of Cassidy Turley. The park’s owner, Harvest Properties, was represented by Mike Moran, Ben Paul, Randy Arrillaga, and Randy Keller, also of Cassidy Turley.
ORLANDO — Crocker Partners has completed its purchase of Orlando University Center, a 386,521-square-foot office complex near the University of Central Florida, for $33.2 million. The property, sold via Auction.com, represents the second largest office sale of 2012. The five-building complex is 70 percent occupied with 56 tenants. Colliers International represented the seller, LNR, in the transaction. The buyer was self-represented. Archetype Mortgage Capital provided the auction financing.
DECATUR, GA. — A partnership between Redstone Investments and Weaver & Woodberry has acquired Decatur Court, a 125,000-square-foot office building in downtown Decatur. Capmark Bank, which took ownership of the property through foreclosure in early 2012, was the seller. The building is 70 percent leased and sits on five acres. Tony Swann of CBRE represented the seller in the transaction. Redstone was self-represented.
ATLANTA — Deerwood Real Estate Capital has arranged a $9 million non-recourse loan for a three-building office portfolio in suburban Atlanta. The 100,000-square-foot portfolio consists of three buildings, two of which were fully occupied and were refinanced. The third building, which had 30 percent occupancy, was purchased as a distressed acquisition. The borrower signed a lease at closing that brought the occupancy in the third building to 60 percent. Joe Hercenberg and David Rosenberg of Deerwood arranged the 10-year loan, which contains a 30-year amortization schedule.