NEW YORK CITY — Savanna and Monday Properties have completed the sale of 386 Park Avenue South, a 20-story art deco office building in Manhattan's Midtown South district. Savanna acquired a majority stake in the property for $44.2 million in 2010 and launched a $30 million capital improvement plan the following year. Eastdil Secured represented the sellers in the transaction.
WALTHAM AND WAKEFIELD, MASS. — SDL, a global information management firm, has signed two office leases in the greater Boston market. SDL is relocating to 9,780 square feet at 410 Totten Pond Road in Waltham and 18,763 square feet at 201 Edgewater Drive in Wakefield. The company signed a five-year lease in Waltham and a seven-year lease in Wakefield. Michael O'Leary, John Boyle and Brian Hines of Cassidy Turley FHO represented the tenant in both transactions.
HOUSTON — The Houston chapter of Dress for Success has opened its new 16,600-square-foot office building, located at 3310 Eastside St. in Houston. The property was developed using $6.5 million in donations. D.E. Harvey Builders constructed the property and Ziegler Cooper Architects designed it. The new building includes a warehouse, sorting center, meeting space, computer center, resource center, child care facility and retail space.
SAN JOSE, CALIF. — Trimble Technology Park, a 234,123-square-foot office campus in San Jose, has sold to Bixby Land Companyfor $29.5 million. The four-building campus is located at 375, 397, 399 and 441 W. Trimble Road, within the city’s Golden Triangle submarket. The property was acquired by Bixby in a venture with Cornerstone Real Estate Advisors, on behalf of one of its institutional clients. The company is planning a $23-million repositioning and rebranding at the campus that will include a 16,000-square-foot office space addition. The renovation is expected to begin in early 2013 and finish by year’s end. Bixby represented itself in this transaction, while the seller, Rockpoint, was represented by CBRE’s Joe Moriarty.
RIVERSIDE, CALIF. – The County of Riverside has purchased two office buildings inside the Citrus Park West business park for $6.6 million. The properties are located at 3125 and 3075 Myers Street. The County of Riverside represented itself in this transaction, while the landlord, CT Realty, was represented by Dave Mudge and Tom Pierik of Lee & Associates’ downtown Riverside office.
GERMANTOWN, MD. — Blacksburg, Va.-based Intrexon, a biotech company that produces products across multiple industries like human therapeutics, protein production, industrial products, agricultural biotechnology and animal science, has signed a 55,000-square-foot lease for laboratory and office space at 20358 Seneca Meadows Pkwy. in Germantown. Rockville, Md.-based Scheer Partners represented Intrexon in the lease transaction. Germantown-based Minkoff Development is the landlord for 20358 Seneca Meadows Pkwy.
LENEXA, KAN. — Cellnet Technology Inc., a business services company, has signed a lease for 16,108 square feet of office space at 11146 Thompson Ave. in Lenexa. Larry Larsen of CBRE Group represented the tenant in the transaction. The landlord is HRPT Lenexa Properties Trust.
ROCKY HILL, CONN. — KS Partners has acquired a 620,327-square-foot office portfolio in Rocky Hill for $65 million. The eight-building portfolio consists of two office complexes: Corporate Ridge and I-91 Tech Center on Brook Street. Corporate Ridge includes 500 Enterprise, 55 Capital Boulevard and 175 Boulevard. The five remaining single-story buildings at I-91 Tech Center total 113,000 square feet of office and flex space. The portfolio was 87 percent leased at the time of sale and tenants include Nationwide Insurance, AT&T and United Healthcare. The seller was New Boston Fund.
NEW YORK CITY — Montefiore Medical Center has reached an agreement with owner and developer Simone Development to build out and occupy a new, 11-story tower in the Bronx. The 280,000-square-foot building will be part of Simone's Hutchison Metro Center, which is scheduled for completion in the third quarter of 2014. The new tower will include an ambulatory surgery center, an advanced imaging center, an onside laboratory and pharmacy and primary and specialty care practices. Montefiore will spend a reported $142 million on the new facilities. The company's lease is for 16 years, after which there is an option to extend the lease or purchase the tower.
HAUPPAUGE, N.Y. — KABR Real Estate Investment Partners and Capstone Realty Group have acquired 330 and 350 Motor Parkway, the gateway office buildings to the Hauppauge Industrial Park. The new owners plan to upgrade the properties, which total 144,000 square feet. The buildings are separated by Marcus Boulevard and are near Long Island Expressway Exits 53 and 55. The buildings are 85 percent occupied and tenants include New York Commercial Bank, First National Bank of Long Island and the Long Island Convention and Visitors Bureau. The Rochlin Organization will serve as the building's leasing agent.