Office

LAKEWAY CENTER SELLS

by admin June 14, 2013

METAIRIE, LA. — Holliday Fenoglio Fowler has brokered the sale of Lakeway Center, a three-building, 1.2 million-square-foot office complex located in the New Orleans suburb of Metairie. Lakeway Center comprises three Class-A buildings situated on the shore of Lake Pontchartrain. The complex is 90.5 percent occupied by a tenant roster that includes People’s Health Network, Drug Enforcement Administration, EDG and Fresenius Medical Care. Holliday Fenoglio Fowler represented the seller, Equity Office Properties. The buyer was The Feil Organization. The acquisition price was undisclosed.

June 14, 2013

GA KEEN REALTY TO MARKET 95,062 SF INDUSTRIAL FACILITY

by admin June 14, 2013

YELLOW SPRINGS, OHIO — GA Keen Realty Advisors has been retained by The Antioch Co. LLC to market and sell the company’s former headquarters in Yellow Springs through a bankruptcy sale process. The 95,062-square-foot building features 66,574 square feet of warehouse space and 26,823 square feet of office space. Currently, two tenants occupy a total of 20,555 square feet and produce annual rental income of approximately $250,000. Located at 888 Dayton St., the property is less than 20 miles northeast of Dayton.

June 14, 2013

Northeast Office

NORDBLOM CO. BUYS OFFICE BUILDING FOR $5.6M

by admin June 14, 2013

BEDFORD, MASS. — Nordblom Co. has acquired 201 Burlington Road in Bedford for $5.6 million. The property includes two connected office buildings totaling 135,000 square feet on 9.3 acres. Renovations will include a new metal façade, window system and HVAC system.

June 14, 2013

Midwest Office

JOINT VENTURE BUYS CONTINENTAL TOWERS FOR $58.8M

by admin June 13, 2013

ROLLING MEADOWS, ILL. — A joint venture between GlenStar Properties and Walton Street Capital has closed on its purchase of Continental Towers, which includes three suburban office towers and a small retail property. The purchase price was $58.8 million, or about $65 per square foot, according to the CoStar Group. The four-building property at 1701 Golf Road in Rolling Meadows, located about 28 miles northwest of Chicago, totals 911,000 square feet and was approximately 40 percent vacant at the time of sale. The joint venture, which acquired the property from special servicer CWCapital, is planning an $8 million renovation, including an overhaul of the parking lot, landscaping and lobbies. Brian Nagle and Jerrod Wigal of Colliers International represented the seller in the transaction.

June 13, 2013

Midwest Office

CATHOLIC HEALTH PARTNERS SIGNS TWO LEASES IN CINCINNATI

by admin June 13, 2013

BLUE ASH, OHIO — Catholic Health Partners has signed two leases at 4600 McAuley Place, an office building in the Cincinnati suburb of Blue Ash. The locally based health system signed a five-year lease for 12,107 square feet and an 11-month lease for an additional 9,098 square feet. The leases total 21,205 square feet, taking up 90 percent of the building’s space. McAuley Place was built in 2001 and is located near I-71 and I-275. Chambers Street Properties recently acquired full ownership of the asset.

June 13, 2013

Northeast Office

VISION EQUITIES SELLS 299 JEFFERSON ROAD

by admin June 13, 2013

PARSIPPANY, N.J. — Vision Equities LLC has sold its interest in a 150,500-square-foot Class A office property in Parsippany to Cole Corporate Income Trust Inc. for $32.4 million. The property is located at 299 Jefferson Road. Vision Equities will continue to provide asset/ property management for the building, which serves as a corporate headquarters for Evonik Degussa Co.

June 13, 2013

Office Western

EAST VALLEY PROFESSIONAL PLAZA IN MESA SELLS FOR $6M

by admin June 12, 2013

MESA, ARIZ. – An 18,928-square-foot medical office building in Mesa has sold to Campus Professional Plaza, LLC for $5.9 million. The Class B building is located at 1220 South Higley Road on the campus of Phoenix Children’s Specialty and Urgent Care East Valley Center. It was 92.7 percent leased at the time of sale. Campus was represented by Paul Christ of Newport Beach. The seller, Ensemble, LLC, was represented by Mike Coover and Thomas Weinhold of Cassidy Turley Arizona.

June 12, 2013

Midwest Office

PARTNERSHIP TO INVEST $100M IN PRUDENTIAL PLAZA

by admin June 12, 2013

CHICAGO — An investment group, led by Mark Karasick with 601W Companies and Michael Silberberg with Berkley Properties, is spending more than $100 million to take a controlling interest in the Prudential Plaza Office Towers in Chicago. The group, through a partnership with current owner and operator BentleyForbes Holdings LLC, plans to redevelop the property’s retail and common areas. The 1950s-era towers take up a full city block overlooking North Michigan Avenue. Occupying the center point between Illinois Center, the Loop Business District and Grant Park, the Prudential Plaza complex features approximately 2.2 million square feet of Class A office space in two distinctive high-rise towers, which are 41 and 64 stories. The complex also includes 90,000 square feet of retail.

June 12, 2013

Northeast Office

GAIA REAL ESTATE AND BUYS SECAUCUS, N.J. OFFICE BUILDING

by admin June 12, 2013

SECAUCUS, N.J. — Gaia Real Estate Investments has acquired 200 Plaza Drive, a fully-leased, recently renovated office building in Secaucus. Jeffrey Dunne, Kevin Welsh and Brian Schulz of CRBE’s New York Institutional Group represented the buyer, Gaia, and the seller, Hartz Mountain Industries Inc. The 249,863-square-foot building is fully leased to Ernst & Young. 200 Plaza Drive is a LEED-certified building and was redeveloped in 2008 with new base building systems, lobby, and façade renovation.

June 12, 2013

Northeast Office

$7M FACILITY FOR MUNICIPAL GAS OPENS IN WAKEFIELD, MASS.

by admin June 12, 2013

WAKEFIELD, MASS .— CTA Construction has completed the new $7 million Municipal Gas and Light Department building at 480 N. Ave. in Wakefield. CTA Construction worked with the Town of Wakefield and HKA Associates to provide demolition of the existing 15,000-square-foot building and construction of a new 30,000-square-foot facility. The new building provides department employees with spacious offices, open administrative areas, a large conference room, training room, large reception area, and kitchen and dining facilities.

June 12, 2013

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