MIAMI BEACH, FLA. — The 14,987-square-foot SunTrust Bank building at 9600 Collins Ave. in Miami Beach’s Bal Harbour Village has sold for $13.5 million. An affiliate of the owner of Bal Harbour Shops purchased the office building from a wholly owned subsidiary of Inland American Real Estate Trust Inc. Casey Rosen and Mark Drazek of CBRE’s National Net Lease Property Group and Paco Diaz of its Miami retail team represented the seller.
DES PLAINES, ILL. — Saban Capital has acquired a 239,331-square-foot office building in Des Plaines for $39 million. The FAA Great Lakes regional headquarters and a smaller General Services Administration tenant lease 92.5 percent of the four-story office building. Transwestern’s Chicago office arranged the sale of the property, 2300 East Devon, on behalf of O’Hare Lake Office Park LLC. 2300 East Devon is one of five multi-story buildings within the 50-acre O’Hare Lake Office Park. The property was 94 percent occupied at the time of sale.
PARSIPPANY, N.J. — Prism Capital Partners and The Davis Cos. have acquired 339 Jefferson Road, a 102,433-square-foot office building in Parsippany. The Realty Associates Fund IV was the seller. The property, formerly known as Kingsbridge Corporate Center IV, is located near the junction of I-80 and I-287. The Sheraton Tara Hotel and Hyatt House are minutes away. Gary Gabriel of Cushman & Wakefield represented both parties in the transaction.
LEXINGTON, KY. — The 14-story, 240,000-square-foot Chase Tower office building has sold for $11.9 million in Lexington. Lake Worth, Fla.-based In-Rel Properties acquired the property, which was built in 1973, and NAI Isaac Commercial Properties will handle leasing and property management services. Bruce Isaac of NAI Isaac Commercial Properties was the property’s court-appointed receiver during the past three years. Finally, Ralph Smalley of Jones Lang LaSalle’s Atlanta office and Paul Ray of NAI Isaac Commercial Properties represented the undisclosed seller. Chase Tower is located at 201 East Main and is the first acquisition for In-Rel Properties in Lexington.
CHARLOTTE, N.C. — Paragon Bank has acquired the 16,427-square-foot, Class A office building at 6337 Morrison Blvd. in Charlotte’s SouthPark submarket for an undisclosed price. The bank, which serves the financial needs of mid-sized commercial businesses and their owners, will relocate its offices from Two Piedmont Town Center. Jubal Early of Lincoln Harris represented Paragon Bank in the acquisition. David Dorsch and Rob Cochran of Cassidy Turley represented the unlisted seller.
BOILINGBROOK, ILL. —Pres-On has purchased a 101,463-square-foot industrial building on 7.7 acres in Bolingbrook. Located at 2600 E. 107th St., the newly acquired property consolidates Pres-On’s three smaller facilities into one centralized location that now serves as its corporate headquarters. The renovated industrial building was expanded to a115,000-square-foot facility that consists of offices and customer service, manufacturing and warehouse space. Chicago-based Wirtz Realty Group represented Pres-On, an industrial foam tape and gasket manufacturer, in the deal.
TUCSON, ARIZ. — Campbell Plaza, a 190,000-square-foot, grocery-anchored retail center in Tucson, has sold to Krausz Puente LLC and Krausz RC Properties One LLC for $32.3 million. The center is located on the northeast corner of Campbell Avenue and Glenn Street. It was 95 percent occupied at the time of sale. Notable tenants include Albertsons, Ace Hardware, Panda Express, Rubio’s Fresh Mexican Grill, T-Mobile, Jamba Juice, GameStop, Old Chicago Restaurant, Five Guys Burgers and Fries, and Sauce Pizza and Wine. The seller, Camelback Corporate Center Joint Venture LLC, was represented by CBRE’s Mike Sandahl, Nancy McClure and Bob Young.
SCOTTSDALE, ARIZ. — A 127,750-square-foot office building in Scottsdale that houses the headquarters for Fender Musical Instruments Group has sold to Bruce Karsh for $29.8 million. The Class A building is located at 17600 N. Perimeter Drive. It was fully leased at the time of sale. The seller, WDP Partners LLC, was represented by Jim Fijan in CBRE’s Phoenix office.
PHOENIX — Hines U.S. Office Value Added Venture III has purchased 24th at Camelback I in Phoenix for an undisclosed sum. The 302,209-square-foot, Class A office tower is located in Phoenix’s Camelback Corridor submarket. The property also contains 27,209 square feet of ground-floor retail space.
BOCA RATON, FLA. — The 10-story One Town Center, formerly known as the Tyco Building, is undergoing renovations and re-entering the Boca Raton market with Class A office space in the Glades/West Boca submarket. MetLife owns the building and has retained CBRE to lease and manage the property. Renovations are being completed by Fort Lauderdale, Fla.-based architect HKS. The building was constructed in 1990 and its most recent tenants were ADT and Tyco International.