ATLANTA — Atlanta Property Group (APG) has purchased the 183,619-square-foot 1200 Ashwood, an office building located 1 mile north of the Ashford-Dunwoody/Interstate 285 Interchange in Atlanta, from Miami-based LNR for approximately $9.5 million. LNR serviced the loan made to the previous owner, Griffin Capital. APG will spend approximately $1 million to renovate the building's common areas and improve the property's aesthetic appeal. Will Yowell of CBRE's Atlanta office represented the seller in the transaction.
CHICAGO — Johnson Publishing Co., a Chicago-based media firm, has executed a long-term lease agreement for 40,000 square feet at 200 S. Michigan Ave. in Chicago. Johnson will occupy the top three floors of the 357,777-square-foot office building. Jeff Bernstein, Ben Azulay, Andrew DeMoss of Bradford Allen Realty Services represented the landlord, BPG Properties, in the transaction. David Herbert and Michael D'Angelo of UGL Services represented Johnson Publishing. Through its media division, the company publishes Ebony and Jet magazines, among others.
ATLANTA — A joint venture between Carter Validus Mission Critical REIT (CV Reit) and three institutional investors has purchased the 338,000-square-foot Peachtree Data Center, located in downtown Atlanta, for $94.75 million. CV REIT will control and run the operations of the property, which is currently fully leased to six tenants. The building underwent a $230 million renovation in 2010.
CHARLOTTE, N.C. — SCOR Global Life America (formerly Transamerica Reinsurance Co.) has signed a 140,000-square-foot lease at the Bank of America Plaza, located at 101 S. Tryon St. in Charlotte. The building is 97 percent leased to tenants including Alston + Bird and Bank of America. Keith Bell of Mohr Partners’ Charlotte office, along with Merrill Roth of Newmark Knight Frank’s New York City office, represented the tenant in the lease transaction. Peter Conway and Rhea Greene of Trinity Partners’ Charlotte office represented Dallas-based Behringer Harvard, the landlord.
CONROE — Dyer Holdings has purchased a 15-acre land tract in Conroe Industrial Park, located at 3105 Pollok Dr. in Conroe, and construction has commenced on a 65,000-square-foot office/warehouse facility at the site. John Ferruzzo, Chris Kugle and Dustin Gillioz of NAI Houston represented the buyer on the land purchase from the City of Conroe. Ferruzzo, Kugle and Gillioz also represented the buyer in the construction contract with Seattle-based KDW, the developer.
ADDISON — Marcus & Millichap has brokered the sale of the approximately 50,000-square-foot Midway Office Park, an office property located at 14665 Midway Rd. in Addison. Ron Hebert of Marcus & Millichap's Dallas office represented the seller, a financial institution, in the transaction. Midway Office Park is the corporate headquarters for Mattress Giant.
DENVER — Hamilton-Titan Partners has received $6 million in mezzanine debt to recapitalize Park Place Office Plaza, a 171,000-square-foot, two-building office complex in Denver. The debt was provided by Lowe Enterprises Investors. Lowe Structured Investment Fund had previously provided $13 million in mezzanine debt to Hamilton-Titan Partners for a three-building portfolio of office properties in the Denver area.
CHICAGO — Shorenstein Properties LLC has closed on the $228 million purchase of 350 West Mart Center, a 1.2 million-square-foot office building in Chicago. The seller was Vorando Realty Trust, which received a net gain of about $54 million on the sale. The property is located at 350 N. Orleans St. and is a former apparel center, which Vornado converted into a modern office building. Tenants include the Chicago Sun-Times and the Illinois Institute of Art.
LENEXA, KAN. — Henderson Engineers Inc. is moving its Lenexa headquarters about 150 feet. The engineering company signed a new 84,500-square-foot lease at 8345 Lenexa Dr. in the Pine Ridge East Business Park in Kansas City. The company will begin moving from its current space at 8325 Lenexa Dr. in February, which totals about 67,000 square feet. Complete occupation is scheduled for this summer. Ken Block, Gene Elsas and Brian Bock of Block Real Estate Services represented Pine Ridge Business Park in the transaction. Bryan Johnson of Colliers International acted as a consultant to Henderson Engineers.
HOUSTON — Freudenberg Immobilien Management and Sugar Land-based The Mathis Group have awarded Cadence McShane the expansion and interior renovation of a 45,000-square-foot headquarters facility, located at 10035 Brookriver Dr. in Houston, on behalf of EagleBurgmann Industries. The construction will include a new four-story addition and renovating private offices, workstations, conference rooms, a training room, testing laboratories, locker rooms and break rooms. The Mathis Group is providing construction management services and Houston-based Powers Brown Architecture is designing the project. Construction will begin in January and will reach completion in December 2012.