SAN FRANCISCO — Harvest Properties has chosen a 128,838-square-foot historic property for its first San Francisco-based acquisition. The building, located at 115 Sansome St., is about 80 percent leased. Tenants include Utility Reform Network, DHC USA and the corporate headquarters for Specialty’s Café. Senior vice presidents Tony Crossley and Tim Maas, of Colliers International’s Investments Services Group, represented the seller, The Swig Company.
MINNEAPOLIS — Construction has commenced for the renovation of the Ford Center, a 265,000-square-foot office building located in Minneapolis' Warehouse District. The project, which was designed by HGA and will be completed by RJM Construction, will include replacing 1,000 windows, adding a new two-story entrance and updating the main level hallway, replacing building systems and other interior build-outs. Completion is slated for the fall. The building is owned by United Properties.
HOFFMAN ESTATES, ILL. — McShane Development Co. has completed the new Americas headquarters for NSK America Corp., a division of the Japanese company NSK Nakanishi. The single-story, 26,833-square-foot facility is located at 1800 Global Pkwy. within the Huntington 90 business park in Hoffman Estates. The building features a showroom, private offices, conference rooms, a cafeteria, and a repair and testing area. The flex space contains 24-foot clear ceilings, a drive-in door and two loading docks. McShane and Ware Malcomb provided design/build services. McShane and MetLife Real Estate Investments own Huntington 90.
MAHWAH, N.J. — Hackensack, N.J.-based NAI James E. Hanson has brokered the $2.68 million sale of a 29,050-square-foot office/flex building, located at 330 Franklin Turnpike in Mahwah. Kenneth Lundberg represented the seller, Raia Properties, and procured the buyer, Interstate 330.
HOUSTON — Trammell Crow Co. (TCC), in a joint venture with Principal Real Estate Investors, has purchased a 10-story Class A office building totaling 497,000 square feet located at 20555 State Highway 249 in Houston's Northwest submarket. The building was formerly owned and served as the corporate headquarters for Compaq Computer Corp. and later Hewlett-Packard Co. The acquisition also includes the purchase of an adjacent five-story parking garage and a 3.5-acre development site for future expansion. The joint venture plans a significant renovation program, including renovations and upgrades to lobbies, landscaping, common areas, signage and other aspects of the building. In addition, the ownership plans to seek Energy Star and LEED-EB (Existing Building) certification.
SAN DIEGO — Internet Marketing SEO has leased 7,962 square feet of class A office space at Cush Plaza Scripps Ranch. The 65-month lease is valued at about $1,000,000. It is nearly 40 percent leased. Spec suites ranging from 2,100 square feet to 8,000 square feet are currently under construction. They are expected to be complete by fall 2011. NAI Capital's Doug Ceresia, Matt Midura and Josh Buchholz represented Internet Marketing SEO. CBRE's Jeb Bakke and Ryan Egli represented the owner, Treena Properties, LLC.
GREENBELT, MD. — NorthMarq's Washington, D.C., Investment Services team has completed the sale of the 64,261-square-foot Doctors Community Hospital Professional Building, a Class A medical office building, located at 8116 Good Luck Rd. in Greenbelt, to a joint venture between Heitman and Nexcore Group for $23 million. Jim Kornick and Matt Clineball of NorthMarq represented the seller, Doctors Community Hospital.
CHICAGO — Behringer Harvard has formed a joint venture with Equity Group Investments and Transwestern Investment Company to recapitalize the 754,750-square-foot 200 S. Wacker Drive, a 40-story office building in the West Loop of Chicago's central business district. The building includes amenities such as a fitness center and conference facilities. Behringer Harvard will retain management and a 10 percent ownership interest of the property. Equity Group invested through the Zell Credit Opportunities Fund. J.F. McKinney & Associates will serve as the leasing agent.
CONSHOHOCKEN, PA. — A joint venture between Miller Investment Management and Hayden Real Estate Investments (MIM-Hayden Funds) has partnered with Boston-based The Davis Cos. to acquire the 258,000-square-foot, two-building Valley Forge Office Center, located at 530 and 580 East Swedesford Rd. in Conshohocken. The partnership previously acquired the first mortgage on the property from CW Capital in December 2010 and has now taken full-ownership as a recapitalized entity.
HOUSTON — Fugro Properties, Inc., a division of Fugro, a provider for the collection and interpretation of data relation to the earth's surface and sub-surface, has purchased the eight-story, 148,751-square-foot office building known as Southwest Center at 6671 Southwest Freeway in Houston. Fugro was represented by Bob Gulley and Chris Dray of the investment services group of Moody Rambin Interests, while the seller, NHP Houston, was represented by Danny Miller of HFF.