NEW ROCHELLE, N.Y. —Purchase, N.Y.-based WestMed Medical Group, a multi-specialty group medical practice, has leased 28,000 square feet of medical office space at 171 Huguenot Ave. in New Rochelle, N.Y. Frank Tomasulo of CBRE represented the tenant, WestMed, and CBRE's William Cuddy, Jr. and Budd Wiesenberg represented the owner, Silwis LLC in the transaction. WestMed plans to occupy the facility in 2012.
FORT WORTH — Global Income Trust has purchased the 164,000-square-foot Heritage Commons IV, a Class A office building located in Fort Worth in the AllianceTexas master planned development, for $31 million. The property is fully leased to Mercedes-Benz Financial Services USA. Global Income Trust is sponsored by CNL Financial Group.
RICHARDSON — Franklin Street Properties Corp. has purchased the 122,300-square-foot AT&T Services Building, an office building located at 1410 Renner Rd. in Richardson. The property is fully leased to AT&T Services through 2018 and is a part of the Richardson Telecom Corridor. The property also has two subtenants — Stewart Title of North Texas and The Dallas Morning News, owned by A.H. Belo. Gary Carr, Eric Mackey and Russell Ingrum of CBRE's Dallas office represented the seller, LBA Realty, in the transaction.
DALLAS — Wells Fargo Capital Finance has signed a lease expansion/renewal for a total of 51,836 square feet of office space at the International Plaza III building, located at 14241 Dallas Pkwy. in Dallas. Tim Terrell of Dallas-based Stream Realty Partners and Jim Fish of Travers Realty's west Los Angeles office represented the tenant. The landlord is Newport Beach, Calif.-based KBS Realty Advisors.
SAN DIEGO — Jones Lang LaSalle’s landlord leasing group has executed two office leases in San Diego totaling 38,307 square feet. The first was for VantagePoint Laboratory Partners, which leased 13,766 square feet of laboratory space at Sorrento Canyon Tech Center in the Sorrento Mesa submarket. The 60–month lease is valued at $1.34 million. VantagePoint was represented by David Marino and Shane Poppen of Hughes Marino. Sorrento Canyon’s landlord, Embarcadero Capital, was represented by JLL’s Chad Urie, Ryan Grove and Grant Schoneman. The second lease was for Chart Sequal Technologies, which leased 24,541 square feet of office space at the Pulse Building in the Carmel Mountain Ranch submarket. The 88-month lease is valued at $2,219,000 million. Chart Sequel was represented by Studley’s Ron Magnaghi and Bryan Geisbauer. Pulse’s landlord, World Trade Partners, LLC, was represented by JLL’s Jay Alexander and Ryan Grove.
RICHMOND, VA. — The 250,000-square-foot 3600 Centre, an office building located at 3600 W. Broad St. in Richmond, has been sold for $4.8 million. Eric Robison, Dean Meyer, Suzanne White and Catharine Spangler of Cushman & Wakefield/Thalhimer's Richmond office, along with Cris Abramson of Cushman & Wakefield's Washington, D.C., office represented Penn Market Properties, the seller, in the transaction. PMC Realty Group was the buyer.
NORWOOD, MASS. —Waltham, Mass.- based Hobbs Brook Management LLC recently broke ground on a 160,000-square-foot Class A office building in Norwood, Mass. The four-story building, located at 1175 Boston/Providence Hwy., will be shared by FM Global, an insurance company, and Dedham Medical Associates. The building was designed by Margulies Perruzzi Architects and includes a shared cafe and separate lobby entrances. Hobbs Brook Management is the owner and operator of the property. The project is slated for completion in 2013.
DALLAS — Seven tenants have executed leases for a total 33,185 square feet at the 510,528-square-foot Providence Towers, a Class A office tower located at 5001 Spring Valley Rd. in Dallas. The activity includes Confidence Music leasing 3,914 square feet; Risk Placement Services leasing 1,480 square feet; Custom Staffing leasing 3,934 square feet; The Hay Group leasing 8,285 square feet; Lucas Associates leasing 10,056 square feet; Mullin TBG Insurance Agency Services leasing 3,532 square feet and Paranet Solutions leasing 1,984 square feet. KBS partnered with Transwestern to complete these transactions.
NORCROSS, GA. — Virginia-based SugarOak has acquired the 55,000-square-foot Spalding Exchange Office Park, located off of Holcomb Bridge Road in Norcross, from LNR for an undisclosed price. Kevin Markwordt of Transwestern's Atlanta office represented the buyer in the transaction and Eva Horton of Grubb & Ellis' Atlanta office represented the seller.
EAST BRUNSWICK, N.J. — Newmark Knight Frank represented PNC Bank in a 131,363-square-foot lease extension at Tower Center II in East Brunswick, N.J. David Simpson of Newmark Knight Frank's New Jersey office represented the tenant in the transaction. The owner, a major pension fund, was represented by Joseph Sarno of CB Richard Ellis. The new lease includes the exchange of two floors and remodeling of the current layout.