ARLINGTON, VA. — Cassidy Turley has brokered the $145 million sale of a 303,262-square-foot Class A office building, located at 1616 N. Fort Myer Dr. in Arlington. The GSA anchors the building, which is fully leased. Bill Collins, Paul Collins, Drew Flood, James Cassidy and Jud Ryan of Cassidy Turley's Washington, D.C., office represented Beacon Capital Partners, the seller, in the transaction. TIAA-CREF was the buyer.
SANTA ANA, CALIF. — U.S. Lines, LLC has signed a lease expansion and extension for its current headquarters in Santa Ana. The shipping company will now lease the entire second floor, totaling 18,345 square feet, at 3601 Harbor Blvd. This is a 5,006-square-foot expansion for the company. The lease is estimated to be valued at $1.2 million. U.S. Lines was represented by Bruce Schuman, a senior vice president in Studley’s Orange County office. The landlord, Arden Realty, was represented by John Gallivan of Cushman & Wakefield.
GARLAND — Grubb & Ellis' Dallas Agency Leasing team has been selected to handle the leasing of 3200 Broadway Ave., a 102,800-square-foot Class A office building in Garland. The five-story building currently has 31,590 square feet of space available. Grubb & Ellis' Chris Wright and Matthew Goyne will handle the leasing.
ORANGE, CALIF. — Access Insurance Company has leased about 31,000 square feet of space at Orange City Square in the City of Orange. The property, located at 770 The City Drive, consists of three mid-rise buildings totaling more than 386,000 square feet. Access Insurance was represented by David Giglio of Grubb & Ellis. The property’s landlord, CBRE Investors, was represented by CBRE’s Rick Warner. The property is managed by CBRE’s Asset Services group.
ROCKVILLE, MD. — Foulger-Pratt Cos. has broken ground on the 190,907-square-foot Rockville Metro Plaza II, located adjacent to Rockville Metro Plaza I at 378 Maryland 355 in Rockville, for the new headquarters of Choice Hotels. Upon completion more than 400 employees will move to the property. The building will feature 13,670 square feet of first-floor retail space and will be built to LEED Platinum standards.
DALLAS — Dallas-based L&B Realty Advisors, a pension fund advisor, has purchased Legacy Place I and II, a two-building, 299,005-square-foot office property in Legacy Business Park at the corner of Dallas North Tollway and Tennyson Parkway in Dallas. The Class A office property received capital improvements in 2009 and is currently 100 percent leased. John Alvarado, Jack Crews, Evan Stone and Lauren Zimmer of Jones Lang LaSalle worked on behalf of the seller, JP Morgan Asset Management in the transaction.
SAN ANTONIO — Holliday Fenoglio Fowler (HFF) has secured $19.5 million in refinancing for McAllister Plaza, a 12-story, 190,079-square-foot office property in San Antonio. HFF's Adam Herrin and Trey Morsbach arranged the 3-year, adjustable rate bridge loan on behalf of RBL Real Estate, owners of the plaza, a life insurance company. The proceeds from the loan are recapitalizing the plaza's existing debt as well as funding tenant improvement costs.
BOLINGBROOK, ILL. — Chicago-based Bradford Allen has arranged a 51,650-square-foot lease renewal with LexisNexis in Creekside Corporate Center, located at 480 Quadrangle Dr. in Bolingbrook. Joel Berger and Ryan Moan of Bradford Allen represented the landlord, Stone Creek Properties, in the lease transaction. Jeff Samaras of Cushman & Wakefield's Downtown Chicago office represented the tenant.
NEW YORK CITY — A development property at 1205-1225 Broadway in New York City’s Herald Square was sold for $71.9 million. The three-story office building at 1205-1213 Broadway is approximately 33,189 square feet with a potential maximum square footage of 111,750 square feet. The nine-story office building at 1215-1225 Broadway is approximately 138,250 square feet with a potential maximum square footage of 138,250 square feet. The buildings are currently 25 percent leased with all the remaining leases expiring within 2 years. Massey Knakal’s Robert Knakal, John Ciraulo, Craig Waggner and Jonathan Hageman represented the seller, while Daniel Rahmani and Ebi Khalili of Venture Capital Properties represented the buyer.
NEW YORK CITY — Aragon Construction has completed a 28,000-square-foot interior build-out for Quinlan Financial Group at Rubie Corporate Plaza, a four-story, 124,000-square-foot office building in Melville, Long Island in New York City. The project takes up the entire second floor of the Class A office building. The build out includes approximately 50 offices, six conference rooms, training rooms and an interior open work area. Renovations include new veneers and accents in the upholstery and wall coverings, and the new space now has DIRTT office fronts, Shaw carpeting and Waldner’s office furniture. Macro Consultants served as the project manager for the build out and TPG Architecture designed it.
