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.
CONCORD, CALIF. — WestcoreProperties has purchased the Concord Corporate Centre in Concord for an undisclosed sum. The Class A office campus contains 346,747 square feet located at 1320 and 1390 Willow Pass Road in Concord. The facility was originally built in 1984 and renovated in 2002. Westcore was represented by Ryan Huddlestun and Jim Blessing of Waveland Financial. Tom Fehr of Cornish and Carey Commercial will continue to be responsible for leasing at the property.
EDEN PRAIRIE, MINN. —CIGNA Behavioral Health Inc., a global health service company, has signed a long-term lease to renew its 117,058-square-foot office space and expand into a total of 211,105 square feet at One Southwest Crossing in Eden Prairie, Minn. Brandon Megal and Bob Zwengler of CBRE represented CIGNA in the transaction. Kevin O' Neill and Mike Gelfman of Colliers International | Minneapolis-St. Paul represented the landlord.
PEARLAND — Houston-based Kelsey-Seybold has been chosen to build a 170,000-square-foot office building on an 18-acre site on the corner of Kirby Drive and Shadow Creek Parkway in Shadow Creek Ranch, a submarket of Pearland. The healthcare organization worked with the Pearland Economic Development Corp. for the building's development. The four-story building is being designed by Houston-based Powers Brown Architecture and will be constructed by E.E. Reed Construction. The new facility will serve as Kelsey-Seybold's administrative offices and is slated for completion in 18 months.
DENTON — The University of North Texas has acquired the 117,000-square-foot Woodhill Square, a multi-building office complex located at the intersection of Dallas Drive and Teasley Lane in Denton. The school will occupy approximately 30,000 square feet, and eventually the school will occupy the complex in phases. Teri Dorazil of CBRE's Dallas office represented the buyer in the transaction. The undisclosed seller was self-represented.
DECATUR, GA. — Cushman & Wakefield has negotiated the sale of the 122,000-square-foot 160 Clairemont, a Class A office building located at 160 Clairemont Ave. in Decatur. The building was 78 percent leased at the time of the sale. Stewart Calhoun, David Meline, Samir Idris and Casey Masters of Cushman & Wakefield's Atlanta office represented Lexington Realty Trust, the seller, in the transaction. Miami-based Parmenter Realty Partners was the buyer.
MANHATTAN — MetLife Inc., through its real estate investments department, has provided a $350 million fixed-rate mortgage for an office condominium at the Bertelsmann Building, located at 1540 Broadway in Manhattan. The Bertelsmann Building is a 44-story office building and tenants include Viacom, Shaw Pittman LLP and Yahoo! The borrower is a joint venture between affiliates of Edge Fund Advisors and HSBC Alternative Investments.