PHOENIX – Spectrum Labs has leased 25,569 square feet of lab office space at the Southbank Business Park in Phoenix. It is located at 2801 S. 35th Street. The veterinary solutions company will use the space for lab testing. Spectrum Labs was represented by Jeff Conrad of Lee & Associates Arizona. The landlord, Hannay Real Estate Advisors, was represented by CBRE’s Bill Bayless.
PEMBROKE PINES, FLA. — UDSS Investments has acquired the 21,906-square-foot third floor of the Atria in Pembroke Pines Professional Plaza, Phase II, located at 18501 Pines Blvd. in Pembroke Pines, from 1st United Bank of Boca Raton for $2.22 million. The buyer plans to occupy a portion of the space and rent out the rest. Michael Scarpino and Jennifer Scarpino of NAI Rauch Weaver Norfleet Kurtz & Co. represented the seller in the transaction. Peter Medina of True Quest Realty represented the buyer.
LINCOLNSHIRE, ILL. — An affiliate of Cole Real Estate Investments has purchased Sysmex Corporate Center, a 162,739-square-foot office property in Lincolnshire, for $49.7 million. The Class A facility is fully occupied and triple-net leased to Sysmex American Inc., for its North and South American headquarters. The company develops and sells clinical laboratory equipment. Jeff Bramson, Jaime Fink and Mark Katz led the HFF team that represented the sellers, Bridge Development Co. and Globe Corp., in the transaction.
HOUSTON — Brookhollow Central I, a 200,812-square-foot office property located at 2800 North Loop W. in Houston, has plans to undergo an $11 million renovation. Ziegler Cooper Architects will design the project to LEED Gold standards and Turner Construction will serve as the general contractor. The renovation will include expanding a two-story lobby and adding new entrances from Loop 610 and the parking garage. Construction is slated for a late 2012 completion. Parmenter Realty Partners is the owner of the 12-story, Class A office building, and Chip Colvill, Michael Anderson and Win Haggard Jr. of Colvill Office Properties will continue to handle the property's leasing.
HOUSTON — Construction has begun the second phase of BLVD Place, a mixed-use development located in Houston's Uptown District. This phase of BLVD Place will contain approximately 211,000 square feet of retail and office space. The development is 60 percent pre-leased and will include a 48,500-square-foot Whole Foods and Frost Bank will occupy 53,000 square feet. W.S. Bellows Construction Corp. is the general contractor for Phase II and Comerica Bank, Wells Fargo, Whitney Bank and Cadence Bank are providing construction financing. San Francisco-based Stockbridge Capital Group served as the equity investment advisor, AECOM's Los Angeles office designed the project and Walter P. Moore served as the civil engineer. The transaction was closed at Stewart Title Co. Bill Boyer and Charles Gordon of CBRE Group, along with Scott Gardner of SRS Realty, represented Frost Bank in its lease transaction. Chip Colvill of Colvill Office Properties and Elise Weatherall of Wulfe & Co. represented the owner.
HAYWARD, CALIF. – Solta Medical has extended its lease for 88,000 square feet of space inside two Class A office/R&D buildings at the Mount Eden Business Park in Hayward. The properties are located at 25881 & 25901 Industrial Blvd. The lease was valued at $4 million. The landlord, Mount Eden Business Park, LLC, was represented by Dan Bergen and Casey Ricksen of Colliers International.
SCOTTSDALE, ARIZ. – A 35,000-square-foot medical office building and an adjacent two-acre property have sold to LGE Design Build and Anderson Commercial Real Estate for $3.7 million. They are located at 8550 and 8600 E. Anderson Drive in Scottsdale. The two-acre property has the potential for a 72,000-square-foot, four-story building. The seller, Silverleaf Perimeter Center, LLC, was represented by Mark Stratz, Ray Harris, Tyler Wilson and Scott Baumgarten of Cassidy Turley BRE Commercial.
ARLINGTON, VA. — Ambassador Inc., a wholly owned subsidiary of The Morris & Gwendolyn Cafritz Foundation, plans to invest $5 million to renovate its 175,000-square-foot office building, located at 3701 N. Fairfax Drive in Arlington. The renovation will include exterior upgrades, a new lobby and vestibule, new HVAC system, tenant common areas on all floors, fifty-person conference facility, fitness center and first floor food service/deli. Construction is slated to begin this fall, following the departure of the Defense Advanced Research Projects Agency, due to BRAC requirements. Structure Tone is the general contractor for the project.
RICHMOND, VA. — CBRE Group has secured $43.3 million in permanent financing for the SunTrust's Mid-Atlantic headquarters, located in Richmond. Included in the collateral were the 458,229-square-foot main building, the 28,111-square-foot SunTrust center and a 370-space parking garage. Charles Foschini, Christopher Apone and Christian Lee of CBRE Group arranged the three-year loan with an interest-only amortization schedule through NorthStar Income on behalf of Parmenter Realty Partners, the borrower.
WEST CHESTER, OHIO — SK Realty Management has acquired a 970,000-square-foot office complex in suburban Cincinnati, which serves as the headquarters and distribution facility for Cornerstone Brands, for $49.6 million. The complex is located in the Union Centre Commerce Park in West Chester, along the I-75 corridor between Cincinnati and Dayton. The complex has been home to Cornerstone Brands since its completion in 1999. Along with office and distribution space, the building also contains 61,800 square feet of retail space. Suzanne Martinez and Matt Hoffman of Avison Young represented the seller, Inland American, in the transaction.