JERSEY CITY, N.J. — Manulife Real Estate, the global real estate arm of Canada-based Manulife Financial Corp., has purchased 10 Exchange Place, a 30-story office tower in Jersey City. The property sold for a reported $285 million. The fully leased property has a tenant roster that includes ACE Insurance, Goldman Sachs and Amazon.com. Andrew Merin, David Bernhaut, Gary Gabriel, Kyle Schmidt and Brian Whitmer represented the seller, a client of Invesco, in the deal.
ROSELAND, N.J. — 56 at Roseland, a 433,945-square-foot office building at 56 Livingston Ave. in Roseland, has sold for $18.1 million. The property was acquired by a partnership between Mountain Development Corp. and Square Mile Capital Management. The vacant building includes more than $50 million of recent infrastructure investment by the previous owner, Merck & Co. Inc. The new owners retained Jones Lang LaSalle to lease the space.
DALLAS — Houston-based Boxer Property has purchased two office properties totaling 205,941 square feet, located at 13140 Coit Rd. and 14800 Quorum Rd. in the Quorum Business Park in north Dallas. The Coit Road building, also known as Office Alpha, is currently 84 percent leased and 14800 Quorum is currently 96 percent leased. Mike Hardage and Steve Simon of Transwestern's Dallas office represented the seller, KBS Realty Advisors, in the transaction. Boxer Property was self-represented.
HOUSTON — Jones Lang LaSalle has arranged the sale of the 168,956-square-foot 1800 Bering, a 10-story Class B office building located in Houston's San Felipe/Voss submarket. JLL also arranged debt financing for the buyer, Bering Office Partners LLC, a joint venture between Harbert United States Real Estate Fund IV and Houston-based Fuller Realty Advisers. Rudy Hubbard, Paul House and Leah Gallagher of JLL's Houston office arranged the financing.
PORT WAHINGTON, N.Y. — WAC Lighting Co. plans to move its headquarters from Garden City to a 145,000-square-foot building at 44 Harbor Park Dr. in Port Washington. WAC, a manufacturer of energy efficient lighting, purchased the building from Luxottica, an eyeglasses retailer and manufacturer, for $12.3 million. WAC plans to create 228 new jobs for the facility. Colliers International represented WAC in the transaction.
BEAUMONT — The 17-story Edison Plaza complex, the only Class A office building in southeast Texas, has been purchased by AlbaneseCormier Holdings. The building is located in Beaumont's Central Business District. AlbaneseCormier plans to renovate the property to include a fitness center and a dining facility.
DALLAS — Cassidy Turley has arranged a 23,962-square-foot lease for PSR, LLC, located at 3 Park Central in Dallas, a 513,00-square-foot office building. Craig Wilson and Randy Cooper of Cassidy Turley's Dallas office represented the tenant in the lease transaction. Russ Johnson and Sean Dalton of Grubb & Ellis' Dallas office represented the landlord, Pittsburgh, Pa.-based McKnight Realty Partners.
PHOENIX — U.S. Citizenship and Immigration Services has signed a 10-year lease for a 46,081-square-foot field office at 1330 South 16th Street in Phoenix. This lease represents an adaptive-reuse/urban renewal project with the GSA. The project revitalized an abandoned facility at the infill site and is now seeking LEED-CS (core and shell) certification. The government was represented by Julie Rhoades, Suzanne Drake and Yolanda Morgan of Jones Lang LaSalle. Lynn Newhall of DOXA Centralrepresented the building’s owner, DOXA South, LLC.
AVENTURA, FLA. — The 117,000-square-foot Aventura Optima Plaza, a Class A office and medical development located at 21500 Biscayne Blvd. in Aventura, has topped off. The property includes a nine-story office tower and a four-story medical building, and was designed by Arquitectos Brom Asociados and Behar Font & Partners to meet LEED Gold standards. The property is on track to be completed in July 2012.
FORT LAUDERDALE, FLA. — The 73,149-square-foot Executive Airport Business Center, located at 1801-1925 S. Perimeter Rd. in Fort Lauderdale, has been sold for $3.4 million. The property contains three single-story office and office/flex buildings. Marty Busekrus, Scott O'Donnell and Dominic Montazemi of CBRE's Boca Raton, Fla., office, represented KAS Airport, the buyer, in the transaction. The seller was Berkadia.
