NEW YORK CITY — Kalmon Dolgin Affiliates Inc. (KDA) has arranged the sale of an 8,800-square-foot property at 16-13 Stephen St. in the Ridgewood section of Queens for $1.3 million. Howard Darsi of KDA represented the buyer, Jack Pierson Studio, while Jean Cook, also of KDA, represented the seller, Stephen Street Realty LLC, in the transaction. Jack Pierson relocated to 16-13 Stephen Street from 70 Greenwich Ave. in Manhattan, and will use the location as a studio. Located between Cypress and Wyckoff avenues, the property provides easy access to Manhattan and Brooklyn via the L subway line.
ARLINGTON, TEXAS — Nebraska-based Tenaska Inc. has renewed its 32,102-square-foot lease at the Offices at Brookhollow in Arlington. The Offices at Brookhollow is an 80,104-square-foot office development at 1701 E. Lamar Blvd. Karen Simon and Brian Scott of Bradford Commercial Real Estate Services represented the landlord, 1031 Arlington LLC, in the five-year lease renewal. Renee Efimoff of SCM Real Estate Services Inc. represented the tenant.
LONE TREE, COLO. – A new 467,000-square foot Charles Schwab campus has broken ground in Lone Tree. The $200-million campus will be situated on more than 40 acres in the RidgeGate community just southeast of Denver. It will allow the brokerage and banking company to consolidate three of its Denver service center facilities. The campus will contain a two-story retail branch building, two additional five-story office buildings and a 15,000-square-foot employee dining facility. It is striving for LEED-Gold certification. The project is scheduled for completion in the third quarter of 2014. It will be built by Mortenson Construction and designed by Fentress Architects.
DULUTH, GA. — Financial services and marketing firm Primerica Inc. has opened its new global headquarters in Duluth. The 365,000-square-foot facility will house 1,600 of the company's 1,700 Gwinnett County-based employees, and has the capacity for an additional 200 people. The three-story building includes 58 conference rooms, a theater and adjoining TV studio, a 248-seat cafe and an interactive tour named “Imagine,” designed to showcase the new headquarters to current and prospective representatives and employees. Duke Realty was the project developer.
CHICAGO — South Korean-based investor Mirae Asset Global Investments has purchased 225 W. Wacker in Chicago from 225 West Wacker Acquisition Co. for $218 million. Mirae also borrowed $115 million in acquisition financing through Principal Real Estate Investors and Allianz Real Estate of America, which provided the five-year loan. The 650,812-square-foot property is currently 91 percent leased to tenants including Edwards Wildman Palmer, PPM America, Merrill Lynch, CBIZ, Booz & Co., True Partners Consulting and Apple. Bruce Miller, Jim Postweiler and Nooshin Felsenthal of Jones Lang LaSalle led the sales team, while Keith Largay, Dave Hendrickson and Ian Russell, also of Jones Lang LaSalle, led the financing efforts in the transaction.
LOMBARD, ILL. — The Alter Group has sold 1800 Springer Drive, a 60,838-square-foot office/data center building in Lombard, to CyrusOne. The data company occupies 96 percent of the space. The 427,000-square-foot property is located in the Oak Creek Center business park, an 11-building, 70-acre office complex originally developed by The Alter Group. Scott Latter of EnTrust Realty Advisors LLC and Jeffrey Ludwig of Alter360 represented the owner in the transaction. CyrusOne provides mission-critical data center facilities that protect and ensure the continued operation of IT infrastructure for more than 500 customers.
LAWRENCEVILLE, N.J. — Prism Capital Partners LLC has teamed up with Angelo, Gordon & Co. to acquire Princeton Pike Corporate Center in Lawrenceville for $121 million, or $151 per square foot. The eight-building, Class A office park, located in Central New Jersey’s Mercer County, totals 800,000 square feet. The seller was Brandywine Realty Trust. The complex was approximately 90 percent leased at the time of sale, and tenants include Wells Fargo, Langan Engineering, Sirius XM Radio, Stark & Stark, the Princeton Healthcare System, Fox, Rothschild and Celsion. Prism is handling the leasing of Princeton Pike Corporate Center.
NEWARK, N.J. — The Berger Organization, through 765 Broad Street Holdings, has acquired 765 Broad Street in Newark from 765 Henry Associates. The 200,000-square-foot, seven-story office building is located in the city’s central business district. Prudential developed the building, and its white marble façade matches the insurance company’s current world headquarters at the neighboring 751 Broad St. The now multi-tenant property, anchored by Cablevision and home to a Wells Fargo regional office and bank branch, was recently renovated with a new lobby, elevators, updated common area and building systems.
NEW YORK CITY — Colliers International has arranged a 17,000-square-foot sublease on behalf of Orange Business Services, taking up the entire 11th floor of 10 East 40th Street. The sublandlord, Blackboard Collaborate Inc., will be vacating the space, and Orange Business Services will relocate from its current location at 2 World Financial Center/Brookfield Place. Ted Rotante with Colliers International represented the subtenant in the transaction. Ken Ruderman and Nick Zarnin of Studley represented the sublandlord in the transaction. Orange Business Services is a global IT and communications services provider.
LONE TREE, COLO. – A new 467,000-square foot Charles Schwab campus has broken ground in Lone Tree. The $200-million campus will be situated on more than 40 acres in the RidgeGate community just southeast of Denver. It will allow the brokerage and banking company to consolidate three of its Denver service center facilities. The campus will contain a two-story retail branch building, two additional five-story office buildings and a 15,000-square-foot employee dining facility. It is striving for LEED-Gold certification. The project is scheduled for completion in the third quarter of 2014. It will be built by Mortenson Construction and designed by Fentress Architects.