CHARLOTTE — Compass Group USA, Inc. has renewed and expanded its lease for 214,507 square feet inside Coliseum Centre, a six building Class A office property in Charlotte. The original lease, originated in 1994, was for 47,450 square feet. The 12.5-year lease was for office space in Coliseum Centre One and Two. Jessica Brown, Anne Vulcano and Kathleen Cannon of CB Richard Ellis' Charlotte office represented the landlord in the transaction. Steve Schneider, Daniel Nack and Vern Anderson of UGL Equis represented the tenant.
CHICAGO — Downtown Properties, a U.S. associate of Hong Kong-based Gaw Capital Partners, has acquired Three First National Plaza, a 1.4 million-square-foot office building at 70 W. Madison St. in downtown Chicago. The 57-story, Class A office tower is currently 92 percent leased to tenants like Morgan Stanley, Fitch Ratings and K&L Gates. The property was acquired from Hines, a commercial real estate developer. Downtown Properties was the co-investor and advisor of the acquisition. South Korea's Hyundai Asset Management is the manager of the asset. Wells Fargo Securities Asia acted as the buy-side advisor, while Eastdil Secured arranged the acquisition financing and was Hines advisor.
HOLTSVILLE, N.Y. — An institutional investor has purchased 5000 Corporate Ct., a Class A office property in Holtsville, for $39.25 million. The property sits on 37 acres and is currently 82 percent leased to tenants such as Department of Internal Revenue Services (IRS) Compliance, IRS Appeals and the Bureau of Customs and Immigration Services. Jones Lang LaSalle Capital Market's Joe Garibaldi, Peter Nicoletti, Tom Walsh and Ray Ruiz represented the seller, Piedmont Office Realty Trust, in the transaction.
BOSTON — Cresset Development has purchased the former Bowne & Co. headquarters at 411 D St. in Boston's South Boston Waterfront. The two-story office/production building spans 74,000 square feet and sits on 1.52 acres. John Cremmen of Jones Lang LaSalle represented Cresset, while Ed Jarosz and David Corkey of CB Richard Ellis represented the seller.
SAN ANTONIO — NorthMarq Capital has arranged permanent financing on behalf of the borrower, a limited partnership led by Primera Partners, for Perrin Oaks Office Park at 10615 Perrin Beitel Rd. in San Antonio. NorthMarq's Roger Trapnell arranged the financing based on a 5-year term and a 25-year amortization schedule through NorthMarq's correspondent relationship with StanCorp Mortgage Investors. The financing also features four 5-year extensions.
DALLAS — Grubb & Ellis has brokered the following office leases in Dallas: The MGHerring Group Inc. has leased 7,752 square feet in Tristone at 5710 LBJ Freeway. Grubb & Ellis' Noreen Mehdi and Chris Wright represented the landlord, Investors Warranty of America Inc., while John Shaunfield and Kyle Jett of Newmark Knight Frank represented The MGHerring Group. Elite Construction and Fabrication LLC has leased 5,452 square feet in Valliance Plaza at 5900 S. Lake Forest Dr. Grubb & Ellis' Heather Densmore Shover, Sean Dalton and Wright represented the landlord, Lake Forest-McKinney Investors Ltd., while Kent Smith of NAI Robert Lynn represented Elite. Barrett Bright Lassiter Linder LLP has leased 4,841 square feet at 3500 Maple Ave. Grubb & Ellis' Sean Dalton, Russ Johnson and Chris Wright represented the landlord, TIC Properties Management LLC, while Matt Craft and Stephen Holly of Jones Lang LaSalle represented Barrett Bright Lassiter Linder.
DRAPER, UTAH — Technology company EMC Corp. has leased 35,000 square feet of office space at the Lone Peak Center in Draper. The Massachusetts-based company has already announced plans to hire several hundred new employees for its Draper office. EMC was represented by CBRE’s first vice president Eric Smith. Lone Peak’s landlord, Maier Siebel Baber, was represented by CBRE’s first vice president Wesley “Tab” Cornelison. The 10-year lease’s financial terms were not disclosed.
BETHESDA, MD. — Brookfield Office Properties has purchased the 368,400-square-foot Three Bethesda Metro Center, located at the intersection of Wisconsin Avenue and Old Georgetown Road in Bethesda, from The Meridian Group for $150.1 million. The 17-story building is currently 93 percent leased. The buyer was self-represented in the transaction.
HIGH POINT, N.C. — Showplace Acquisition Co., a subsidiary of International Market Centers, has purchased The Showplace Portfolio, an approximately 700,000-square-foot, five-building asset in High Point, for $46 million. Mark Gilbert, Samir Idris, David Meline, Carl Muhlstein and Stewart Calhoun of Cushman & Wakefield's Southeast Markets Group, along with Sean Dowell of Commercial Carolina Corp.'s Greensboro, N.C., office, represented the seller, Torchlight Investors, in the transaction. The portfolio consists of a four-building, 584,000-square-foot portfolio and the adjacent 115,600-square-foot Showplace West office building.
LORAIN, OHIO — Luttner Real Estate Investment Services has brokered the $3.12 million sale of a 11,606-square-foot freestanding building, located at 221 W. 5th St., in Lorain. The U.S. Social Security Administration has a 13-year lease on the building, which commenced in April. Dan Lariccia of Luttner's Cleveland office represented the seller, a private developer, and procured the buyer, a private investment group.