LONG BEACH, CALIF. – The first building to be completed at Pacific Pointe at Douglas Park in Long Beach has sold to Providence Industries for $12.7 million. The project is being developed by Sares-Regis Group (SRG) and features seven corporate headquarters buildings in a business park adjacent to Long Beach Airport. Providence Industries will expand and relocate to the 91,145-square-foot building from its former space in nearby Paramount. SRG also owns the adjacent 160 acres within Douglas Park. Providence was represented by Chuckie Lyons of Lyons & Lyons Properties. SRG was represented by CBRE’s Brian DeRevere and John Schumacher.
RALEIGH, N.C. — KBS Realty Advisors has acquired Captrust Tower, a 300,389-square-foot office and retail building in the North Hills area of Raleigh. The sale also includes a six-level parking deck. The 17-story tower is 95 percent leased to 18 tenants, including Captrust Financial Advisors, the American Board of Anesthesiology and Regus. Duke Realty and Kane Realty developed the building in 2009 and Kane will retain an ownership interest in the project through a joint venture with KBS.
ORLANDO, FLA. — Consolidated-Tomoka Land Co. has acquired a two-building, 133,000-square-foot office complex leased to Hilton Resorts Corp. in Orlando for $14.6 million. Both buildings are under a long-term lease, with more than eight years remaining on the term. The purchase marks the company's sixth acquisition in 2013, and brings its single-tenant portfolio to a total of 38 properties across seven states.
ATLANTA — Wyatt Family Partnership has purchased Venture Center, a 39,185-square-foot office building at 1605 Chantilly Drive in Atlanta, for $3.1 million. Children's Healthcare of Atlanta is the anchor tenant in the three-story property, which is fully leased. The building, visible from I-85, is just north of the Lenox Road/Cheshire Bridge intersection. Hunter Henritze, Michael Howell and Chip Sipple of Lincoln Property Co. Southeast represented the seller, CRM Properties LLC. Wyatt Realty Co. represented the buyer.
NORTH CHARLESTON, S.C. — Hudson Realty Capital has arranged a $7.5 million acquisition loan for a 77,777-square-foot office building in North Charleston. The Class A building was constructed in 1990. The borrower plans to use the funds to purchase the property and initiate lease-up of the remaining space.
CINCINNATI — Holiday Office Park, a three-building, 349,000-square-foot office complex in Cincinnati, has sold for $2.6 million to Neyer Properties, a local full-service commercial real estate developer. The office complex is 51 percent occupied and faces the October 2014 departure of anchor tenant Paycor, a Cincinnati-based payroll services provider. The seller was Florida-based First City Financial Corp, which was represented by Cassidy Turley in the deal. First City purchased the property in November 2011 for $4.7 million.
EWING TOWNSHIP, N.J. — The Opus Group has completed construction on a new 250,000-square-foot corporate headquarter campus for Church & Dwight Co., a manufacturer and marketer of a wide range of personal care, household and specialty products. The campus includes two 125,000-square-foot Class A, energy-efficient office buildings that are connected to allow for employee engagement. The new headquarters centralizes employees previously housed in four separate buildings. Construction began in October 2011 and was completed in late 2012. An investment group, led by Founders Properties LLC, owns the building under a long-term lease with Church & Dwight. The project cost was undisclosed.
LONG BEACH, CALIF. – The first building to be completed at Pacific Pointe at Douglas Park in Long Beach has sold to Providence Industries for $12.7 million. The project is being developed by Sares-Regis Group (SRG) and features seven corporate headquarters buildings in a business park adjacent to Long Beach Airport. Providence Industries will expand and relocate to the 91,145-square-foot building from its former space in nearby Paramount. SRG also owns the adjacent 160 acres within Douglas Park. Providence was represented by Chuckie Lyons of Lyons & Lyons Properties. SRG was represented by CBRE’s Brian DeRevere and John Schumacher.
CHATSWORTH, CALIF. — Panavision Federal Systems has signed a three-year lease for a 22,775-square-foot office/industrial building in Chatsworth. The building is located at 9340 De Soto Street. The company will expand and relocate to the new facility in late January. Panavision Federal was represented by Brock Burnett, Jeff Gould and Jeff Albee of Colliers International. The landlord, Northeast Valley Industrial Parks, was represented by Scott Caswell of Delphi Business Properties.
CHICAGO — Prudential Mortgage Capital Co. has provided a 10-year, fixed-rate loan for 200 West Madison, a 928,000-square-foot office tower in Chicago. The borrower is Multi-Employer Property Trust, which purchased the building in September 2011 for $217.5 million. Originally constructed in 1983 and significantly renovated during the last several years, the 45-story tower stands on the eastern border of Chicago’s West Loop, with access to major commuter transportation lines and area highways. Sarah Teunis of Prudential Mortgage Capital says the building’s quality and central location “made this transaction extremely attractive.” Teunis and Bryan McDonnell of Prudential led the transaction.