LOS ANGELES — Coldwell Banker Commercial WESTMAC has completed a sale-leaseback at a Downtown Los Angeles office building located at 2417 Beverly Blvd. The 10,720-square-foot building was sold to a local investor and owner/user janitorial company from a national magazine publisher for $1,750,000. The janitorial company plans to occupy half of the property, while the seller will lease back the remaining portion for three years. The buyer, Sun Kee Hong, was represented by Brian Rhie of AB Real Estate. The seller, 2401 Beverly LLC, was represented by Michael Rojas, William Althouse and T.C. Macker of Coldwell Banker Commercial WESTMAC.
LISLE, ILL. — Leopardo Co. Inc. is building a three-story, 95,000 square foot medical office building for DuPage Medical Group in Lisle. Located at 430 Warrenville Rd., the facility will house a cancer center for DuPage Medical Group and Rush University Medical Center, part of a recently announced partnership to bring university-level cancer care to the western suburbs. The building is slated for completion in December 2012.
BURLINGTON, MASS. —Colliers International has arranged two office leases totaling 58,482 square feet at New England Executive Park in Burlington. Black Duck Software signed a lease for 29,323 square feet at 8 New England Executive Park. COMSOL Inc. renewed and expanded its lease to 27,159 square feet at One New England Executive Park. Matthew Daniels, John Carroll III and Andrew Whipple of Colliers represented the landlord, Equity Office, in the transaction. T3 Advisors represented Black Duck and COMSOL was represented by Colliers.
SANTA MONICA, CALIF. — EC English has leased 16,500 square feet at 401 Wilshire Blvd. in Santa Monica. This will be the English language school’s first Los Angeles outpost. The company plans to occupy the space by January 2012. EC English was represented by Dave Toomey and Brian Davies of CresaPartners in Los Angeles. The landlord, Douglas Emmett, was represented in-house by Bob Zelkin.
MILWAUKEE — Paul Davis National, a firm that specializes in consulting and emergency services for catastrophic disasters, will move its headquarters to Milwaukee in a new 40,000-square-foot building. Paul Davis National will invest $10 million in equipment and the new building, which will be located at 2000 S. Fourth St. The building is slated to open in spring 2012.
SHELTON, CONN. — Gexpro, an electrical product distributor, has signed a lease for 30,132 square feet at 1000 Bridgeport Ave. in Shelton. Kevin Foley and Torey Walsh of Cushman & Wakefield represented the building owner, 1000 Bridgeport Associates LLC, a joint venture of Abbey Road Advisors, Westport and The Praedium Group, in the transaction. Peter Buckey and Andy Arrick of Cassidy Turley represented the tenant.
FORT MILLS, S.C. — Marcus & Millichap has arranged the sale of a 74,844-square-foot office building, located at 1830 MacMillian Park Dr. in Fort Mill. The property is fully leased to corporate headquarters of Continental Tire the Americas. David “Britton” Burdette of Marcus & Millichap's Atlanta office represented the seller, Charlotte, N.C.-based Forsite Development, in the transaction. Jamie Medress and Mark Ruble of Marcus & Millichap's Phoenix office represented the buyer, Milwaukee-based Investor Associated, which acquired the property as part of a 1031 exchange. Hendrick Construction will complete a $3 million, 90,994-square-foot expansion on behalf of the buyer.
MINNEAPOLIS, MINN. — NorthMarq Capital's Minneapolis regional office arranged first mortgage refinancing of $7.1 million for the Stadium Village Apartments, a 121-unit multifamily property located in Minneapolis. Daniel Trebil of NorthMarq arranged the financing for the borrower through NorthMarq's correspondent relationship with a bank. The 5-year loan has a 30-year amortization schedule.
FLORHAM PARK, N.J. —Bergman Real Estate Group has arranged two lease expansion deals at Florham Park Corporate Center in Florham Park, N.J. Managed Health Care Associates Inc. signed a lease for 39,060 square feet, which includes an additional 17,550 square feet of space. Eric Ladden of Cornerstone Real Estate Group represented Managed Health Care in the transaction. Veritext Corp. signed a 33,000 square foot lease, expanding by 16,560 square feet. Greg Barkan and Remy deVarenne, Jr. of CB Richard Ellis represented Veritext in the transaction.
HOUSTON — MetLife has completed the sale of a 50 percent interest in the 1.7 million-square-foot Wells Fargo Plaza, a 71-story office building located at 1000 Louisiana St. in Houston's CBD, to New York State Common Retirement Fund. MetLife will retain asset management responsibilities and the remaining 50 percent interest. The property is 96 percent leased to 37 tenants. Robert Williamson and Scott Galloway HFF's Houston office and Mark Gibson of the firm's Dallas office represented MetLife in the transaction, and Clarion Partners represented New York State Common Retirement Fund.