RIVERSIDE, CALIF. — Market Street Corporate Center I & II and Riverside Gateway I & II have sold to Alliance Commercial Partners for $41.5 million. The parks are located at 2190, 2280, and 2300 Market Street and 3480 & 3550 Vine Street, respectively, in downtown Riverside. Market Street contains three Class A office buildings totaling 133,468 square feet. Riverside Gateway includes two Class A office buildings totaling 90,154 square feet. The centers were 92 percent leased at the time of sale. They feature a mix of tenants, including the County of Riverside, American Express, Metro PCS, Caremore Health Plan, Brandman University, FBI, Fidelity National Title, Robert Half International and Merrill Lynch. The sellers, Pacific Coast Capital Partners and the Muller Company, were represented by CBRE’s Michael Kendall, Philip Woodford, Kevin Shannon, Scott Schumacher, Ken White and Rebecca Perlmutter Finkel.
NORTH HOLLYWOOD, CALIF. – A 9,856-square-foot office building in North Hollywood has sold to Xtetic World/Mesoestetic USA for $2.5 million. The building is located at 11313 Weddington Street. The transaction includes two additional parcels at 5305 and 5313 Bakman Ave. They will be used for parking. The office building will serve as the medical skin care company’s new U.S. headquarters. Xtetic was represented by Adam Comora and Jeremy Barbakow of NAICapital’s Encino office. The seller, Hurley Properties, LLC, was represented by Marty Agnew and Jessica Kelley of Marcus & Millichap.
IRVINE, CALIF. – The Alzheimer’s Association has purchased a 30,000-square-foot office building in Irvine for $5.1 million. The association will use the office building as its new Orange County headquarters. The property is located at 2515 McCabe Way. The building is set to begin a five-month renovation in September 2013. The transaction was executed by David Girty and Marty Stradtman of Coldwell Banker Commercial.
ORLANDO, FLA. — Stirling Sotheby's International Realty has arranged a six-year, $1.5 million lease for 10,000 square feet of office space at The Plaza, an office building located at 121 S. Orange Ave. in downtown Orlando. The tenant, Team Gemini LLC, a sustainable project design and development firm, will occupy the penthouse space that features a rooftop garden terrace. John Kurtz of Stirling Sotheby's International Realty represented the tenant and the landlord, ACM DT Properties LLC, in the lease deal. The new office space will serve as the world headquarters of Team Gemini, which is expanding due partly to its $300 million planned project in Ohio.
BOSTON — Skanska USA Building is constructing a $265 million, 17-story office building in Boston’s Seaport District. Phase I of 134,514-square-foot development began in July with a completion date set for the fourth quarter of 2015. PricewaterhouseCoopers will occupy 75 percent of the building, which will feature ground-floor retail. The London-based company provides audit and assurance, tax and consulting services. Skanska USA, headquartered in New York City, will build the office property to meet LEED Gold certification standards.
PHILADELPHIA — Liberty Property Trust/Synterra Partners has announced it will develop a four-story, 80,050-square-foot office building for Franklin Square Capital Partners in Philadelphia. Franklin Square has signed a long-term lease for the entire building, which is located on 4.4 acres in The Navy Yard Corporate Center. The Class A office building is designed to achieve LEED Gold certification. The new headquarters will include views of Philadelphia’s skyline, a healthy food focused restaurant, a multi-use exercise facility and conference facilities. The building is located at 201 Rouse Blvd.
SOMERSET, N.J. — CBRE Group Inc. has arranged two office lease transactions totaling 7,506 square feet within Vantage Court, a 208,700-square-foot, two-building complex in Somerset. Joseph Sarno, Jeremy Neuer and Frank Foldetta of CBRE represented the owner, The Winter Organization, in both transactions. In the first deal, an insurance provider signed a lease for 4,251 square feet. Robert Shulman and James Scancarella of Cresa represented the tenant in the transaction. In the second transaction, Olsson and Co. LLC signed a 3,140-square-foot lease. Chris Hovanec and Sam Horowitz of DTZ Corporate Real Estate represented the accounting firm, which is relocating from 230 Davidson Ave. in Somerset. The property is located at 200 Cottontail Lane.
IRVINE, CALIF. – The Alzheimer’s Association has purchased a 30,000-square-foot office building in Irvine for $5.1 million. The association will use the office building as its new Orange County headquarters. The property is located at 2515 McCabe Way. The building is set to begin a five-month renovation in September 2013. The transaction was executed by David Girty and Marty Stradtman of Coldwell Banker Commercial.
WEST HOLLYWOOD, CALIF. — Funny Or Die, the popular comedy video website, has leased 1.5 floors at Formosa South in West Hollywood. Formosa South is a creative office building that is currently under construction at The Lot, an 11-acre studio campus. The new office building will be located adjacent to the studio arrival gates.Funny Or Die is expanding its operations and plans to maintain a studio, in addition to other production and office space, at the new building. The campus is located on Santa Monica Boulevard and is bounded by Formosa Avenue and Poinsettia Place. Construction on Formosa South began in April 2012 and will be completed in late 2013. The Lot and Formosa South are both owned by CIM Group.
GREENVILLE, S.C. — The City of Greenville's Design and Review Board have approved Hughes Development Corp.'s plans to update and renovate the Bank of America Tower, located at 101 N. Main St. in Greenville. The multi-million dollar plan includes lobby renovations, upgraded elevators and 4,000 square feet of glass to serve as the building's new facade. The first floor will be designated retail space. The common areas will include outdoor patios and a basketball and bocce ball court. The office building will be surrounded by a new parking garage that will provide more than 1,300 parking spots. Hughes Development will be leasing the retail spaces on the first floor, and NAI Earle Furman will lease the office spaces on the second, third, fourth, ninth and 16th floors.