THE WOODLANDS — The Lionstone Group has repurchased the Waterway Plaza I & II office buildings, two Class A properties located in The Woodlands totaling 366,000 square feet. The company owned the buildings from 2003 to 2005. The Lionstone Group purchased the properties through CFRE Partners One, a $252 million investment vehicle. Trent Agnew, Robert Williamson and Jeff Hollinden of HFF represented the seller, Daymark, in the transaction. Eric Anderson of Transwestern is handling the leasing for the properties.
DALLAS — Younan Properties has sold the 19-story, 398,767-square-foot Four Forest Plaza, a Class A office building located on Merit Drive in Dallas' Central Expressway submarket. CBRE represented the seller in the transaction. The buyer, Adler Realty Investments, was self-represented.
PLANO — Dallas-based Primera Cos. has plans to construct a two-story, 51,333-square-foot office building, a Class A property that will be located at 5151 Headquarters Drive in Legacy Business Park in Plano. The building is slated for a summer 2013 completion. Myers & Crow Co. will develop the property that was designed by Gromatzsky Dupree & Associates. Legacy Texas Bank provided construction financing, and Trevor Franke and Aarica Mims of Peloton Real Estate Partners are handling the property's leasing responsibilities.
ARLINGTON — SkyWalker Property Partners has sold the 78,660-square-foot Cordovan Park, located at 5840-5850 W. Interstate 20 in Arlington, in an off-market transaction to Texas Trust Credit Union. The property is 75 percent leased. SCM Real Estate has retained leasing and property management duties.
SAN DIEGO – A 38,419-square-foot office building in San Diego has sold to Dehghani Properties, LLC for $5.5 million. The property is located at 5151 Murphy Canyon Road. It was fully leased at the time of sale. Dehghani represented itself in the sale, while Paul Lafrenz, Paul Komadina and Melissa Foster of the CBRE San Diego Private Capital Group and Scott Kincaid, also of CBRE, represented the seller, Barrington Corp.
FAIRFAX CITY, VA. — NAI KLNB has arranged the $4.1 million sale of a 19,000-square-foot office building, located at 4010 University Drive in Fairfax City. The property is fully leased to a variety of professional service companies including law practices and accounting firms. Josh Simon and Marc Tasker of NAI KLNB represented the buyer, 4010 University LLC. Also, Bill Prutting of CBRE represented the seller, Extra Billy Smith Partnership.
WEST PALM BEACH, FLA. — The two-building Flagler Center has completed a $2 million renovation. The properties include a 90,000-square-foot office tower located at 501 N. Flagler Drive and a 155,000-square-foot tower located at 505 N. Flagler Drive in West Palm Beach. The interior renovation included an overhaul of the lobbies with new lighting, Italian marble floors, custom artwork and contemporary furniture. The exteriors received lush new landscaping, an updated outdoor patio area and granite bistro tables. A second $1 million renovation is planned to update the chiller plants to improve energy efficiency.
NORTHFIELD, ILL. — Summit Design + Build will construct a 16,000-square-foot office and warehouse build-out for OfficeNation Inc. at 500 N. Central Rd. in Northfield. OfficeNation is a mail order/direct deal for computer products and will be relocating from its current operations in Northbrook, Ill., to the new Northfield location. Construction plans include the build-out of a large open office area, conference rooms, employee lounge and loading dock. Stuart Cohen & Julie Hacker Architects will provide architectural services for the project. Completion is scheduled for the third quarter of this year.
MACOMB TOWNSHIP, MICH. —Century 21 has signed a lease for 5,000 square feet of office space at 15432 25 Mile Road in Macomb Township. Gabe Schuchman and Samantha Tullio of Mid-America Real Estate-Michigan represented the landlord, Macomb Park II, in the transaction.
NEW YORK CITY — Swig Equities and Silverpeak Real Estate Partners, an asset manager for Longwing Real Estate Ventures LLC, have closed on the refinancing of 110 William St., a 900,000-square-foot office building in Manhattan's Financial District. The loan totaled $161.5 million. UBS Real Estate Securities and Barclays Capital provided a $141.5 million first mortgage. In addition, Pearlmark Real Estate Partners provided a $20 million mezzanine loan as part of the transaction. Swig Equities and Longwing, the borrowers, have owned the building since 2004 and recently renovated the lobby, security and fire-safety systems and the curtain wall facade.