KANSAS CITY, MO. — Ryan Transportation Group has acquired Glenwood I and Glennwood II, located on Metcalf Avenue in Kansas City. The office buildings, at 119,500 square feet and 151,900 square feet respectively, have been on the market since 2009. The building's major tenant, Embarq Corp. occupied the properties before the company sold and became CenturyLink. According to local reports, Deutsche Bank held a note on the buildings after the previous manager couldn't fill Embarq's vacancy. The seller hired Bob Fagan and Brent Roberts of CBRE Group to market the property. Ryan Transportation plans to occupy most of the space in 2013, following a renovation.
THE WOODLANDS — HFF has closed the sale of the 145,580-square-foot 2001 Timberloch, an office building located in the mixed-use development Town Center in The Woodlands. The property is fully leased to Repsol USA and Entergy Services. Dan Miller and Trent Agnew of HFF represented the seller, CalSTRS, which was advised by CBRE Global Investors, in the transaction. The buyer was Principal Real Estate Investors.
DALLAS — RLG Consulting Engineers has expanded its headquarters to a full floor at the 57,505-square-foot La Sierra Office Building in north Dallas. RLG signed a lease renewal/expansion for the 15,173-square-foot third floor of the office building. Dave Besserer and Curt Linn of Bradford Commercial Real Estate Services represented the tenant in the lease transaction. The landlord is Fred Pakravan of Dallas.
LOS ANGELES — The Academy Tower, a 175,012-square-foot office building in the Los Angeles submarket of North Hollywood, has sold to Kennedy Wilson for $48 million. The building is located at 5200 Lankershim Blvd. It is 97 percent leased. Notable tenants include Endemol, IPPT and Starcom Worldwide. The transaction was funded with $19 million in equity from Kennedy Wilson and a $29-million loan from Bank of America Merrill Lynch.
LINCOLNSHIRE, ILL. — Retail Properties of America Inc. (RPAI) has sold an 818,686-square-foot office building in Lincolnshire that is fully leased to Aon Hewitt, for $148 million. Proceeds from the sale were used to repay $177.7 million in mortgage debt and accrued interest encumbering the entire Aon Hewitt campus. Following the sale, RPAI continues to own the remaining 343,000-square-foot Aon East Campus, which is fully leased to Aon Hewitt.
ROSEMONT, ILL. — Three new tenants have joined 600 Shafer Court, a 162,115-square-foot office building in Rosemont. The American Society of Plumbing Engineers, represented by Greg Witt and James Otto of CBRE Group, leased 7,076 square feet. Quattro FPO Solutions took 3,185 square feet and was represented by Peter Kelly of Lincoln Property Commercial. Haemonetics Corp., represented by Jon Azulay of Studley, leased 14,665 square feet. Jack Reardon of NAI Hiffman represented the owner in all three transactions.
KATY — Eastgroup Properties has begun construction on a 30,000-square-foot build-to-suit headquarters facility for Welltec Americas, located at Merchants Way and Ravello Drive in Katy. The new facility will include a training facility for field engineers, technicians, maintenance and sales associates. Welltec worked with the Katy Area EDC for the development.
HOUSTON — Toronto-based Avison Young has been selected to provide leasing services for a two-building office portfolio totaling 267,578 square feet in Houston. The portfolio includes a 100,352-square-foot property located at 110 Cypress Station Drive and the 167,226-square-foot Creekridge II, a three-story property located at 140 Cypress Station Drive. The owner of the portfolio is Sante Fe, N.M-based Rosemont Realty. Lee Jeane of Avison Young will handle the leasing and marketing services for both properties.
LOS ANGELES — The Academy Tower, a 175,012-square-foot office building in the Los Angeles submarket of North Hollywood, has sold to Kennedy Wilson for $48 million. The building is located at 5200 Lankershim Blvd. It is 97 percent leased. Notable tenants include Endemol, IPPT and Starcom Worldwide. The transaction was funded with $19 million in equity from Kennedy Wilson and a $29-million loan from Bank of America Merrill Lynch.
SANTA ROSA, CALIF. – Medtronics has expanded its footprint in Santa Rosa. The medical device technology company has signed a new lease for a 62,865-square-foot building at 3880 Brickway Blvd., while extending its current lease term on the neighboring 63,720-square-foot building at 3850 Brickway Blvd. The Class A buildings were owned by Equity Office Properties (EOP) when the leases were executed, but have since been purchased by Basin Street Properties. EOP was represented by Jeff Negri, Niels von Doepp and Ryan Snow of Cassidy Turley.