ALPHARETTA, GA. — Cushman & Wakefield has arranged the sale of a 93,963-square-foot office building, located at 1200 Bluegrass Lakes Pkwy. in Alpharetta. The building is 73 percent leased to Arch Chemicals through 2021. David Meline, Stewart Calhoun, Samir Idris and Casey Masters of Cushman & Wakefield's Atlanta office represented Reed Elsevier, the seller, in the transaction. The buyer, Norcross, Ga.-based OA Development, was self-represented by Eric Singer.
NEW YORK— Colliers International has arranged a 15-year, 74,000-square-foot lease at 175 Varick St. WeWork, a provider of high-end office suites, will take space on multiple floors. Eric Meyer, Richard Plehn and Seth Hecht of Colliers International's New York office represented the landlord, Extell Development Co. Sean Black of Jones Lang LaSalle represented WeWork in the transaction.
FORT WORTH — Three new office buildings, totaling approximately 275,000 square feet, are scheduled to break ground in spring 2012 at Sundance Square, a 35-block entertainment, office and retail district in Fort Worth. The buildings will be located at 420 Commerce St.; 425 Houston St.; and 407 Throckmorton St. The Throckmorton Street building will be approximately 99,000 square feet, including 12,196 square feet of residential space. The Houston Street building will be approximately 93,000 square feet, including 12,393 square feet of retail space. The Commerce Street building will be approximately 83,000 square feet, including 17,000 square feet of retail and restaurant space. Washington, D.C.-based David M. Schwarz Architects designed the project to meet LEED certification. Fort Worth-based The Projects Group is the project manager, Fort Worth-based Bennett Benner Pettit, Planners + Architects is the architect of record and The Beck Group is the construction manager for all three buildings.
DALLAS — Drew Davis Realty Partners has purchased a 38,500-square-foot office building, located at 4027-4031 Bronze Way in Dallas, from Fujikoki America. Craig Jones and Matt Elliott of NAI Robert Lynn's Dallas office represented the buyer in the transaction. Craig Gutow of Dallas-based The Gutow Co. represented the seller.
GRAND PRAIRIE — 2M Solutions has purchased a 26,133-square-foot office building, located at 800 Greenview Dr. in Grand Prairie, from Southwest Securities FSB. Michael Stanzel of NAI Robert Lynn's Dallas office represented the buyer in the transaction, and Brett Heinen and Jerry Averyt of Henry S. Miller's Dallas office represented the seller.
HOUSTON — Morgan Keegan, a brokerage and investment banking firm, has leased the entire 43rd floor and part of the 41st floor, a total of 24,357 square feet, in San Felipe Plaza, a Class A office building located at 5847 San Felipe St. in Houston. San Felipe Plaza spans 980,472 square feet and is currently 89 percent leased. Chip Colvill, Michael Anderson and Win Haggard represented the landlord, TPG/CalSTRS, a joint venture between Los Angeles-based Thomas Properties Group and the California State Teachers' Retirement System, in the lease transaction. Brad Marnitz of NAI Houston represented the tenant.
BOCA RATON, FLA. — BVCC Corp. has purchased the 105,000-square-foot Boca Village Corporate Center, located at 4955 Technology Way in Boca Raton, from a partnership led by Butters Group for $32.85 million. Christian Lee, Charles Foschini and Christopher Apone of CBRE's Miami office, along with Scott O'Donnell of CBRE's Boca Raton office, represented the seller in the transaction.
CHICAGO — Vornado Realty Trust (NYSE: VNO) has entered into an agreement to sell 350 W. Mart Center, a 1.2 million-square-foot office building in Chicago for about $228 million. The reported buyer is San Francisco-based Shorenstein Properties LLC. Vornado has also entered an agreement to sell four mixed-use properties in Manhattan for $78 million.
MANHATTAN — Luxury retailer Coach Inc. will become the first tenant in a 51-story office tower that New York-based developers Related Cos. and Oxford Properties plan to build on Manhattan's west side. Coach will occupy more than 600,000 square feet, or more than one-third of the initial tower of the Eastern Rail Yards, part of the 26-acre, mixed-use Hudson Yards site. New York-based Kohn Pederson Fox Associates designed the tower and Coach is relocating its world headquarters to the tower from 516 W. 34th St. Construction of the 1.7 million-square-foot tower is expected to start in mid-2012.
DESOTO — SPAR Five Group has purchased a 17,090-square-foot office/warehouse investment property, located at 201 Executive Way in DeSoto. Jim Turano of Henry S. Miller Brokerage's Dallas/Fort Worth office represented the seller, U.S. National Bank Group, in the transaction. The buyer was represented by Graham Sparrow of Hi View Real Estate's Ellis County office.
