NORTHBROOK, ILL —A joint venture between Middleton Partners and Romanek Properties, two Northbrook-based real estate investment firms, has acquired the Hillsdale Office Portfolio from Duke Realty. The portfolio is a six-building, 446,000-square-foot campus located on the northeast side of suburban Indianapolis. The overall occupancy of the single-story campus is approximately 88 percent. Financial terms of the deal were not disclosed.
OAK BROOK, ILL. — Two information technology service providers, Interactive Business Systems and ManageForce, have each signed leases at Butterfield Office Plaza in Oak Brook. Interactive Business Systems has renewed its lease for 14,448 square feet, and ManageForce has a new lease for 2,762 square feet. NAI Hiffman’s Jud Henry represented DenHoltz, the landlord in the transaction. Aubrey Van Reken, also with NAI Hiffman, represented ManageForce in the new lease.
WOODBRIDGE, N.J. — A joint venture between Bergman Real Estate Group and Gottesman Real Estate Partners has purchased Aspen Corporate Park, a 91,700-square-foot, two-building office park in Woodbridge. The property is located at 1460 and 1480 Route 9 North, opposite the Woodbridge Center Mall. Andrew Merin, Gary Gabriel, David Barnhart and Jared Zimmel of Cushman & Wakefield represented the seller, a partnership between Ivy Equities and Meritage Properties, in the transaction. They also represented the buyer.
HOUSTON — A joint venture between Trammell Crow Co. and Principal Real Estate Investors (PREI) has broken ground on the 546,372-square-foot Energy Center Three, a 20-story office building located on the southwest corner of Interstate 10 and North Eldridge Parkway in Houston's Energy Corridor. Trammell Crow and PREI expect to deliver the project in the fourth quarter of 2014. The office building is the first phase of a multi-phase office development. The property will also include a nine-level, free standing parking garage, double-height lobby, fitness center, conference center and dining facilities. Kirksey Architects designed the project, which is pre-certified LEED Gold. The joint venture between Trammell Crow Co. and PREI has developed five Class A office projects in the Houston area, including Energy Center Three. These projects include Hess Tower, Energy Center I and II and Noble Energy Center One.
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.
SAN FRANCISCO — The Swig Company has purchased an 88,668-square-foot office building in San Francisco for an undisclosed sum. The four-story property is located at 901 Battery Street. The acquisition also includes a parking structure that resides at 998 Sansome Street. The fully leased building is home to KMD Architects, Viscira, MediaOne, Fox News and New Deal Design.The seller, a partnership that had owned the property for several decades, was represented by Tony Crossley and Erik Hanson of Colliers International. Mee Mee Kiong and Peter Nelson of HSBC Bank provided the acquisition financing.
TAMPA, FLA. — A joint venture between Feldman Equities Inc. and Tower Realty Partners has acquired the 22-story, 387,477-square-foot Wells Fargo Center for $44.8 million in downtown Tampa. The Class A office building is located across from the Tampa Convention Center and includes anchor tenants Wells Fargo & Co., Phelps Dunbar and UBS. It is currently 77 percent leased. Larry Feldman of Feldman Equities Inc. will lease Wells Fargo Center and Tower Realty Partners will handle management responsibilities. Eastdil Secured represented the seller and HFF represented the buyer.
MILWAUKEE — The Dickman Co. has arranged the sale of a 62,494-square-foot office building at 544 S. 1st Street in Milwaukee for $5.8 million. The single-story building was constructed in 1952 as an industrial property and was converted to an office building in 2007. Dickman Co.’s Samuel D. Dickman and Samuel M. Dickman Jr. represented the buyer and seller in this deal. The seller was 544 S. 1st Street LLC and IndependenceFirst Inc., and the buyer was an existing tenant in the building.
