FALMOUTH, MAINE — American Realty Capital Properties Inc. has purchased an office building occupied by TD Bank in Falmouth, a suburb of Portland, for $31 million. The net-leased, 143,030-square-foot property is located at 200 U.S. Route 1. The three-story building was built in 2001. The estimated capitalization rate of the property is 8.9 percent. Paragon Commercial Real Estate represented the building’s seller, West Falmouth Development LLC, in the transaction.
PLANO, TEXAS — Stream Realty Partners has arranged a new 20,481-square-foot lease for office space in Plano for Marquis Software Solutions. The office space is located at 5160 Tennyson at Denbury Park II in Plano. Denbury Park II is a three-story, 102,600-square-foot office building in Plano's Legacy submarket. Todd Noonan of Stream Realty represented the tenant in the lease transaction. Jeff Ellerman of CBRE represented the sublandlord, Denbury Resources Inc.
HOUSTON — Khoshbin Co. has awarded the leasing and marketing of two office buildings in Houston's North Belt submarket to Transwestern. The two office properties include a 181,647-square-foot, 10-story building at 10700 N. Freeway and a 213,777-square-foot, 12-story building at 333 N. Belt. Khoshbin plans to renovate the office buildings and modernize the building systems and management. Michelle Wogan, Dani Allison and Evelyn Ward of Transwestern's Houston office will market and lease the office buildings.
JACKSONVILLE, FLA. — PKY Deerwood has acquired an eight-building, 1 million-square-foot office portfolio in Jacksonville for $130 million. The properties were built from 1996 to 2005 and are 90 percent occupied. Major tenants include JP Morgan Chase, Fidelity, Comcast, Adecco and Main Street America. Christian Lee, Charles Foschini, Christopher Apon, Amy Julian, Will Yowell and Michael Harrell of CBRE represented the seller, Flagler in the transaction. CBRE also arranged the $84.5 million acquisition loan on behalf of the buyer. The 10-year loan has a fixed interest rate of 3.9 percent.
RALEIGH, N.C. — Continental Capital Management has acquired a three-story, Class A office building at 1500 Sunday Dr. in Raleigh for $8.3 million. Built in 2000, the 61,412-square-foot property is located near PNC Center and Carter Finley Stadium. The building is 97 percent leased and tenants include Hughes, Pittman & Gupton and First Point Management Resources. J. Scott Adams, Ben Kilgore and Brian Carr of CBRE | Raleigh represented the seller, CBL & Associates, in the transaction.
HOUSTON — Buchanan Street Partners, in partnership with CarVal Investors, has acquired a 16-story office building, located at 2100 W. Loop South in Houston's Galleria submarket. The acquisition is Buchanan's third office acquisition in Houston, and second with CarVal Investors, in the last two years. The 165,399-square-foot property is 82 percent leased. Buchanan plans to invest new capital for leasing costs and property upgrades. The building's amenities include a seven-story parking structure, 24/7 security, after-hours card key access and an on-site deli.
CHICAGO —Century Aluminum has signed a lease for 16,146 square feet of office space at One South Wacker in downtown Chicago. The publicly traded aluminum maker will move its headquarters from Monterrey, Calif. to the Windy City later this year. Paul Petricca and Melissa Rubenstein of Jones Lang LaSalle completed the transaction on behalf of the building’s owner, Norfolk, Va.-based Harbor Group International, which acquired the 40-story, 1.2-million-square-foot building from TIAA-CREF in December. Michael Cello and Tim Lisy of DTZ represented Century Aluminum in the transaction.
FARMINGTON, HILLS, MICH. — Magellan Behavioral Health Inc. has extended its 8,798-square-foot office lease at 34705 W. Twelve Mile Road in Farmington Hills, a northwest suburb of Detroit. Chris Secontine and John Gordy of Signature Associates represented the landlord, Investors Warranty of America Inc., in the transaction. Magellan Behavorial Health, a long-term tenant at the building, is a division of Magellan Health services and focuses on patients with behavioral issues.
FLORHAM PARK, N.J. —The Clarus Group LLC and Carlin & Ward P.C. have signed leases at Florham Park Corporate Center, a 226,000-square-foot, Class A office property in Florham Park, N.J. The Clarus Group signed a lease for 5,375 square feet at 25 B Vreeland Road, which is located just off the Columbia Turnpike near Eisenhower Parkway. Fred P. Hyatt of Jones Lang LaSalle represented the Clarus Group. Bryn Cinque and James Bailey of Colliers represented the landlord in the transaction. Additionally, Carlin & Ward, a law firm, renewed its lease of 5,894 square feet of office space at Florham Park. John Osborne of Bergman Real Estate Group represented the landlord, while Jeremy Neuer, Peter Shikar and Robert Norton of CBRE represented Carlin & Ward in the transaction.
DALLAS — BOKA Powell, a Dallas-based architecture and design firm, has completed the interior design work of Stream Realty's new 35,000-square-foot headquarters space in the Trammell Crow Center in downtown Dallas. Stream Realty occupies the 28th floor and portions of the 26th floor in the office building, located at 2001 Ross Ave. in Dallas' arts district. The headquarters houses approximately 150 employees. The new office space includes an open floor plan, floor-to-ceiling windows, modular work stations, a cluster of conference rooms and a large lobby.