SCOTTSDALE, ARIZ. – A 44,088-square-foot office building in Scottsdale has sold to STORE Capital for $10 million. The building is located at 5656 E. Greenway Parkway. Stacie Harrison of NAI Horizon represented the buyer. The seller, Arizona Prep Real Estate, was represented by Scott Shelbourne with Cushman & Wakefield.
CORAL GABLES, FLA. — AJP Ventures has completed the $9 million, 58,000-square-foot The Building, a Class A office property located at 2990 Ponce de Leon Blvd. in Coral Gables. The Building is 65 percent pre-leased to tenants, which include Zubi Advertising and Mas Group. A joint venture between AJP Ventures, Juan Carlos of The Mas Group of Companies and TAZ Partners developed the property.
ATLANTA — Atlanta Property Group has purchased an 80,249-square-foot office building, located at 1190 W. Druid Hills Drive in Atlanta, from Duke Realty. The property is 78 percent leased. The buyer will invest $125,000 to renovate the building's common areas and attract new tenants.
ATLANTA — PCCP has provided a $30 million senior loan to refinance a 272,650-square-foot office building, located at 5660 New Northside in Atlanta. The borrower was an equity consortium led by Banyan Street Capital.
STATEN ISLAND, N.Y. — The Sal Calcagno Family Trust has sold a 40,000-square-foot office building, located at 1535 Richmond Ave. in Staten Island, for $7.5 million. The property was originally leased on a triple-net basis to SI Bank & Trust, and was later acquired by Sovereign Bank. Brian Leary, David Muessel, Sean Kelly, Cengiz Sendogdular and Matthew Dzbanek of CPEX represented The Sal Calcagno Family Trust in the transaction. They also represented the buyer, a local developer.
HOUSTON — Houston-based ITW Global Brands has opened its new $1 million, 11,000-square-foot Technology Center, a research and development facility located in Houston. The property is being used for product development, testing, evaluation and differentiation. A collection of 10 engineers and scientists staff the property.
ROSWELL, GA. — The 127,342-square-foot Roswell Summit, an office building located at 1080 Holcomb Bridge Road in Roswell, has sold for $4.85 million. The property is 50 percent leased. The buyer plans to invest in interior and exterior upgrades. Sean Williams of Bull Realty represented Emcade Acquisitions, the buyer, in the transaction. Kevin Markwordt of Transwestern represented the seller, CSMC 2006-C5 Holcomb Office LP.
CHICAGO — Motorola Mobility, a smartphone maker owned by Google Inc., is relocating its headquarters to Vornado Realty Trust's Merchandise Mart in Chicago. The company, currently based in Libertyville, Ill., has signed an office lease for 572,000 square feet. The 3.5 million-square-foot Merchandise Mart is the world's biggest commercial building, according to a statement by Vornado. Motorola is expected to move to the building in early 2013.
WASHINGTON, D.C. — Germany-based Deka Immobilien has sold the 270,158-square-foot The Westory, a Class A office building located at 607 14th St. NW in Washington, D.C. The 12-story building is LEED Gold certified. Savills represented the seller in the transaction. The buyer was a joint venture between a local operator and an insurance company.
AMBLER, PA. — Liberty Lutheran Services has purchased the Whitemarsh Corporate Center East Building at 7002 Butler Pike in Ambler for $3 million. Liberty is a non-profit organization human services agency. The 25,000-square-foot office building will serve as its new headquarters. The property was renovated in 2008. Neil Shupak and Justin Bell of Newmark Knight Frank Smith Mack represented the seller, 7 East Skippack Associates LP, a partnership under the umbrella of Keystone Property Group, in the transaction.