LOS ANGELES – A 151,029-square-foot, Class A entertainment office complex known as Tribeca West has sold to Kilroy Realty Corp. for $73 million. The property is located at 12233 W. Olympic Blvd. in Los Angeles. It is 97 percent leased. Notable tenants include Disney, HBO & NBC studios. Bob Safai of Madison Partners represented both the buyer and the seller, Ocean West Capital Partners, in this transaction.
LOS ANGELES – Ultimate Off Price has signed a 10-year lease for 41,328 square feet in Downtown Los Angeles. The space is located at 1615 E. 15th Street in the city’s garment district. The lease, which will commence in January 2013, is valued at $3.56 million. Ultimate Off Price was represented by Jerry Sackler of Daum Commercial’s Downtown office. The landlord, Western States Technologies, was represented by Jeff Thompson of the same office.
ATLANTA — Boca Raton, Fla.-based Crocker Partners has acquired the 18-story, 432,000-square-foot Class A Prominence office building in Atlanta’s Buckhead submarket for $105 million. Crocker Partners owns and manages approximately 2.5 million square feet of office space in the Atlanta market. “Our strategy focuses on top-tier assets in second-tier cities,” says Tom Crocker, managing partner with Crocker Partners. TIAA-CREF and Equity Office Properties sold the property, which was under contract this past summer.
LOS ANGELES – Ultimate Off Price has signed a 10-year lease for 41,328 square feet in Downtown Los Angeles. The space is located at 1615 E. 15th Street in the city’s garment district. The lease, which will commence in January 2013, is valued at $3.56 million. Ultimate Off Price was represented by Jerry Sackler of Daum Commercial’s Downtown office. The landlord, Western States Technologies, was represented by Jeff Thompson of the same office.
ATLANTA — Atlanta-based Regent Partners LLC, a full-service real estate investment and development firm, has acquired Concourse Corporate Center, including Atlanta’s iconic “King and Queen” high-rise office buildings, in the Central Perimeter submarket near the Interstate 285 and Georgia Highway 400 interchange for more than $300 million. The 2.2 million-square-foot Concourse Corporate Center also includes three mid-rise office buildings and is situated on a 64-acre campus. The campus includes a four-star Westin Hotel, the Concourse Athletic Club and KinderCare Child Learning Center, which were not part of the transaction. GEM Realty Capital affiliates, Equity Group Investments affiliates and funds managed by San Francisco-based Farallon Capital Management are part of the new ownership group. Regent Partners’ David Tennery and Adam Allman will lead leasing and marketing for Concourse Corporate Center.
MARLBOROUGH, MASS. — Sepaton Inc., a maker of data backup and recovery solutions for large companies, has signed a 31,511-square-foot lease renewal in Marlborough. The company uses the space at 400 Nickerson Road for its headquarters. The two-story property is located in Marlborough Technology Park, an 85-acre park in the I-495 West submarket. Joe Fallon and Kevin Hanna of Cassidy Turley FHO represented the tenant in the transaction. Josh Lashar of Richards Barry Joyce & Partners represented the landlord.
AUSTIN — DivcoWest has purchased the Littlefield and Scarbrough buildings, two office properties totaling approximately 240,000 square feet at Sixth and Congress streets in downtown Austin. DivcoWest bought the historic office buildings from Heitman LLC. The Littlefield Building is 86 percent leased to tenants such as Capital One and HQ Global. The Scarbrough Building is 93 percent leased to retail tenants Gold's Gym, Brooks Brothers and Ruth's Chris Steakhouse, as well as office tenants Frog Design and WeissComm Group.
HOUSTON — A historic three-story, 6,122-square-foot office property, located at 3006 Brazos St. in midtown Houston, has been sold. The office building is also known as the Judge Tom Mullins Building. Christopher Dray of Moody Rambin's Investment Services Group represented the seller, James Patrick Smith PC, in the transaction. Jay Wall of Moody Rambin's Tenant Rep Services represented the buyer, Dunn, Neal & Gerger LLP.
RALEIGH, N.C. — Dr. Michael Thomas with Carolina Endocrine has purchased an 8,245-square-foot office space at 3840 Ed Dr. in Raleigh for $1.4 million. Cresa’s Sam DiFranco, a founding principal of the corporate real estate advisory firm, in Cary, N.C., represented Dr. Thomas and Carolina Endocrine. Janet Clayton of Grubb & Ellis’ Chapel Hill, N.C., office represented the seller, Rexview Building B LLP.<
WYOMING, MINN. — Ryan Cos. has broken ground on a 144,000-square-foot expansion of the Polaris Industries Inc. Product Development Center in Wyoming. The expansion will more than double its existing 126,000-square-foot facility, which Ryan constructed in 2005. The $20 million project is expected to be completed in August 2013. Pope Architects is the project architect. The new space will feature large work bays for off-road vehicles, conference and display spaces and a new electrical lab.