NATICK, MASS. — Maric Strathmore Inc. has sold a 15,504-square-foot office building at 21 Strathmore Road in Natick for $3 million. The building is located within the Natick Business Park near Route 9. Scott Hughes of New Dover Associates represented the seller in the transaction. He also procured the buyer, GMG 21 Strathmore Road, an affiliate of Genesis Management Group.
HOUSTON — Parkway Properties has signed a contract agreement to acquire the 626,000-square-foot Phoenix Tower, a 26-story Class A office building located in the Greenway Plaza submarket of Houston, for $124.5 million. The office tower is LEED Gold certified and is 84.5 percent leased. Parkway has plans to place a secured first mortgage on the property after closing that will equate to 65 percent of the purchase price, approximately $80.6 million.
FORT WORTH — Jones Lang LaSalle has arranged Residential Credit Solutions' 106,500-square-foot office lease at 4708 Mercantile Drive in Fort Worth. Pat McDowell and Matt Montague of Jones Lang LaSalle represented the tenant in the lease transaction. Brian Randolph and Andrew Ward of Mercantile Partners represented the landlord.
SPARTANBURG, S.C. — The Wells Fargo and Ward Law Building at 233 S. Pine St. in Spartanburg has sold for $1.3 million. Dan Dunn of NAI Earle Furman’s Spartanburg office represented the unlisted seller. NAI Earle Furman’s Greenville, S.C., office and Greenville-based Investment Services Group procured the buyer.
PLANO — Cole Real Estate Investments has acquired a 318,600-square-foot, Class A office tower in Plano's Legacy Business Park for $120 million. The 12-story property is fully leased to Encana Oil & Gas and was delivered earlier this year. The property features a seven-story parking structure connected to the building via a skybridge. There are 15 years remaining on Encana's lease. Cole was self-represented by Boyd Messmann in the transaction.
SAN FRANCISCO — The City and County of San Francisco has signed a 10-year lease for 104,000 square feet at 1155 Market Street. The agencies will occupy about 75 percent of the building. The space will be occupied by the treasurer/tax collector, assessor-recorder and public worksagencies, among others. The lease allows for expansion options, as well as the right of first offer for the building’s 10th and 11th floors. The building was previously occupied by the San Francisco Public Utilities Commission. Laurus Corporation created the single-purpose entity 1155 SF Partners LLC to acquire the building in September 2011. It plans to invest about $14 million in renovations. It is striving for LEED-Gold certification. CAC Group handles the building’s leasing efforts.
CICERO, ILL. — Ryan Cos. has completed work on Wirtz Beverage Illinois, a new 605,000-square-foot corporate headquarters building at 333 South Laramie Ave. in Cicero. The facility consolidates four Wirtz Beverage locations into one hub for sales, distribution and training programs. Ware Malcomb provided architectural and design services to Wirtz Realty Group, the newly formed real estate arm of Wirtz Corp. The property features offices, conference centers, training facilities and warehouse and distribution areas. The building also contains digital signage screens. The 500,000-square-foot warehouse contains one of the largest temperature-controlled wine storage components in the country.
CHICAGO — American Tower Corp. has acquired the 93rd and 97th floors of the John Hancock Center in Chicago, as well as rights to the existing telecommunications leases associated with the property. The sale includes more than 34,000 square feet for broadcast and telecommunications equipment and two broadcast towers. American Tower says it plans to market the property to both broadcast and wireless tenants.
BOSTON — DivcoWest Properties has acquired a four-property, 362,562-square-foot office portfolio for $106.7 million in Boston's Seaport District. The properties include 300 A St. (106,171 square feet); 313 Congress St. (70,217 square feet); 330 Congress St. (35,811 square feet); and 51 Sleeper St. (150,363 square feet). Originally constructed as wool warehouses, the assets have been converted into high-quality office spaces. Coleman Benedict and Ben Sayles led the HFF team that represented the seller, Brickman Associates, in the transaction. They also procured the buyer. Additionally, HFF arranged the $31.4 million acquisition financing for 51 Sleeper St., which was financed by Eastern Bank.
HOUSTON AND DALLAS — Houston-based Hines has selected Houston-based Colvill Office Properties to direct leasing and marketing for 15 properties totaling 12 million square feet, located in Houston and Dallas. Colvill Office Properties has an expanded total of 20 million square feet in leasing assignments.
