BREINIGSVILLE, PA. — A New York-based investment company has purchased TEK Park, a technology office campus in Breinigsville, for more than $50 million. The seller, MRA Group, had purchased the property in 2005 for $9.3 million and rebranded it TEK Park. The 137-acre property is reported to have cost more than $300 million to construct. The campus is 90 percent occupied and more than 600 area residents are employed onsite.
DALLAS — Dallas-based U.S. Risk Insurance Group has moved its headquarters to a 41,800-square-foot space in One Lincoln Park, located at 8401 North Central Expressway in Dallas. Bill McClung, Mike Wyatt, Robbie Baty and Grant Pruitt of Cushman & Wakefield of Texas' Dallas office represented the tenant in the lease transaction. Chris Axley and Elliot Prieur of Lincoln Property Co.'s Dallas office represented the landlord, Lincoln Park Partnership.
CHICAGO — Summit Design + Build LLC has been selected as the general contractor for American Society for Surgery of the Hand's (ASSH) new corporate headquarters. The facility will be located at 822 W. Washington Blvd. in Chicago. Crews will reconstruct an existing, 30,000-square-foot office and warehouse structure and install a new elevator, stair systems and plumbing. ASSH will occupy the entire second floor, while the first floor will contain loft-style office space. The ASSH build-out will include private offices, a conference room and a yoga room. MRSA Architects and Planners is designing the project, which is scheduled for completion in the second quarter of this year.
JERSEY CITY, N.J. — Tower Insurance Co. of New York has signed a 10-year lease for 76,892 square feet at Harborside Financial Center in Jersey City. The insurance company will occupy space within Harborside Plaza 2, a 761,2000-square-foot building. Harborside Financial Center is comprised of five office buildings. Mark Ravesloot, Scott Sloves and David Opper of CBRE represented the tenant in the transaction. Mack-Cali Realty Corp. is the landlord.
WILMINGTON, DEL. — Geico and Wells Fargo have signed lease renewals at 919 North Market St., an 18-story office building in Wilmington. Wells Fargo signed a lease extension for 6,251 square feet. Geico, a large insurer and tenant of the building since 1999, extended its lease for 3,497 square feet. Newmark Knight Frank Smith Mack represented the landlord, Keystone Property Group, in the transaction.
SANFORD, FLA. — A 36,264-square-foot office building, located at 101 E. First St. in Sanford, has sold for $1.2 million. Robert Blackwell and Michael Heidrich, Sr., of Maitland, Fla.-based NAI Realvest represented Ft. Lauderdale, Fla.-based One Hundred One, the seller, in the transaction. Mayer Gross of ASD Realty represented Lilac Group-Sanford, the buyer.
FRISCO — MoneyGram International has signed a new 25,287-square-foot lease of the entire third floor of 3000 Internet Boulevard, a 150,000-square-foot, Class A building located in Hall Office Park in Frisco. The tenant has an option to expand within the park to accommodate potential growth. Jeff Staubach and Brooke Armstrong of Jones Lang LaSalle's Dallas office represented the tenant in the transaction. The landlord, Hall Financial Group, was self-represented by Kim Vincent Butler, Tammy Lomonaco-Nellis and Brad Gibson. Linda Burns and Dennis Donovan of Bridgewater, N.J.-based WDG Consulting provided site selection services.
TORRANCE, CALIF. — Hager Pacific Properties has purchased a 28.27-acre industrial site in Torrance for an undisclosed sum. It is located at 19500 Mariner Ave. The company plans to renovate the site and offer about 45,000 square feet of buildings for lease. Hager purchased the property from Dow Chemical Company, which used the site as a manufacturing and terminal distribution center. The sale was managed by Ashley Dillard of CB Richard Ellis in Chicago.
DETROIT — Twitter, the San Francisco-based social media company, is opening an office in Detroit at the M@dison Building. The M@dison Building, located at 1555 Broadway, is owned by Rock Ventures LLC, the umbrella entity for Dan Gilbert's portfolio of companies, investments and real estate. Gilbert is the chairman and founder of Quicken Loans. The building is already home to several tech companies such as Detroit Labs and Doodle Home. Twitter's new office will include a team of employees who help advertising agencies and marketers use Twitter's advertising products, according to a statement. Rock Ventures' management firm, Bedrock Real Estate Services LLC, represented both parties in the deal.
PEARLAND — HFF has arranged $12 million in refinancing for the 76,048-square-foot Shadow Creek Business Center, a Class A office building located along Shadow Creek Parkway in the Shadow Creek Ranch community in Pearland. Colby Mueck of HFF's Houston office led the team that arranged the 10-year loan through Ladder Capital Finance on behalf of the borrower, ZT Group Business Center One. The property is currently 92 percent leased.