IRVING — Jones Lang LaSalle has brokered the sale of the 129,321-square-foot Imperial Square, a one-story office building located at 2401-2477 Gateway Drive in Irving. Bo Bond and Larry McCorkle of Jones Lang LaSalle represented the seller, Rushmore Imperial Square LP, in the transaction. The buyer was Red River Imperial Square LLC.
ITSACA, ILL. — Lemko Corp., a global software maker for the mobile wireless network, has moved its corporate headquarters to Itsaca. The company signed a long-term lease for 22,347 square feet at One Pierce Place after outgrowing its previous space at 1700 E. Golf Road in Schaumburg. The new lease also provides the company an opportunity to expand into contiguous space within the same building over the next several years. Jim Rose, Gregg Raus and Mark Kolar of Jones Lang LaSalle represented the tenant in the transaction.
OAK BROOK, ILL. — SWC Technology Partners has expanded its office lease by 3,235 square feet at 1420 Kensington Road in Oak Brook. SWC, an information technology company, occupies 22,036 square feet within The Crossings of Oak Brook, a complex made up of two Class A buildings. SWC has grown by 8,412 square feet since its first lease at The Crossings. Dan O'Neill and Garrett Schultz of NAI Hiffman represented the landlord, The Davis Cos., in the transaction. Dave Stefancic and Lexis Livingwood of UGL Equis represented the tenant.
NEW YORK CITY — Paradysz Inc., an audience development agency, has signed a lease expansion at 5 Hanover Square for the 11th floor. The company now occupies 45,000 square feet of space on the 6th, 7th and 11th floors. Paradysz assists clients with understanding, targeting and acquiring customers using business intelligence and media research tools. Todd Korren of Savanna and Frank Cento of Cushman & Wakefield represented the landlord, Savanna, in the transaction. Brian Weld of Cassidy Turley represented the tenant.
KATY — Myers Crow & Saviers has begun development of the 135,716-square-foot Mason Creek Office Center, a new two-story office building located at 21420 Merchants Way in Katy. The new office building will be part of the 110-acre Mason Creek Corporate Park. Mood Rambin has been retained as the property's leasing agent. The property is slated for a May 2013 completion.
DENVER – A pair of Denver office buildings received $59 million in financing. The buildings are cross-collateralized, and were acquired by Broadreach Capital Partners in 2007. They include One Union Square, a 188,707-square-foot office building at 143 Union Blvd. in Lakewood’s Union Corridor, and a 277,710-square-foot office building at 303 E. 17th Ave. in Downtown Denver The funds include a $49 –million, first-mortgage loan provided by Mesa West, and $10 million in mezzanine debt provided by Investcorp. The funds were used to remove the existing debt and to fund future leasing costs to stabilize the properties, according to Ronnie Gul, a Mesa West principal who originated the financing, which was arranged by Brad Zampa of Newmark Knight Frank Cornish & Carey Capital Group.
SCOTTSDALE, ARIZ. — McCormick Place, a 74,474-square-foot office building in Scottsdale, has sold to Scottsdale Healthcare Corporation for $14.95 million. An adjacent, free-standing, covered parking garage was also included in the acquisition. The vacant building is located at 8125 N. Hayden Road. The building previously served as Medicis Pharmaceutical Corporation’s corporate headquarters until 2008. Scottsdale Healthcare plans to relocate its corporate headquarters here in 2013. The company was represented by Luke Walker and David Carder of CBRE’s Phoenix office, along with Patti Gentry of Arizona Commercial Advisors. The seller, a Northern California real estate investment company, was represented by Jerry Noble, Pat Devine and Greg Mayer out of the same office.
ORLANDO, FLA. — A one-story, 19,344-square-foot office building at 1001 N. Orange Ave. in downtown Orlando recently traded for $2 million. Donald F. Evans Trust sold the property, which was built by The Evans Group in 1998 and expanded in 2003, to Orlando-based 1001 North Orange Avenue LLC. Thomas Hankins and Eric Parrs of NAI Realvest represented the seller.
BROOKFIELD, ILL. — Commercial real estate services firm Jones Lang LaSalle plans to open a new corporate office in suburban Brookfield. Dan Jessup, a longtime Milwaukee-area commercial real estate executive, has been tapped to lead the new office and will be joined by fellow broker Michael Streit. Jessup and Streit are joining the firm from APEX Commercial Realty and will specialize in representing office and industrial real estate tenants and owners, as well as local corporations. Among the team's first assignments is overseeing leasing for four office buildings totaling 350,000 square feet in Waukesha and Brookfield owned by a private Midwest-based real estate investment company.
NEW YORK CITY — Construction is complete on an $11 million renovation at 650 Fifth Ave., a 36-story office tower in New York City that is home to tenants such as Citigroup, Starwood Hotels and Resorts and Liz Claiborne. The 18-month project resulted in a new lobby, elevators, a new outdoor esplanade and new restrooms on vacant floors. The 382,500-square-foot property is owned by 650 Fifth Ave. Co., which hired architectural firm Swanke Hayden Connell for the project. The owner also tapped CBRE Group to lease and manage the property, which is located at the edge of Rockefeller Center.