INDIANAPOLIS — Pace Properties has purchased a Class A office building in Indianapolis for an undisclosed amount. The property totals 72,481 square feet over three stories and is located at 9225 Priority Way West Drive within The Precedent Office Park. Rebecca Wells and David Moore of Cassidy Turley's Indianapolis office partnered with Michael Hanrahan of the firm's St. Louis office to represent the seller, Bank of America. The buyer provided in-house representation.
CHICAGO — The former Chicago Patrolmen's Federal Credit Union building has been sold for $3.4 million. The 22,000-square-foot property is located at 1359 W. Washington Blvd. in the city's Union Row neighborhood. A local nonprofit purchased the building, which was built in 2000. Luke Malloy and Greg Bayer of Mid-America Real Estate represented the seller, and Bettye Reynolds of FJ Williams Realty represented the buyer.
STAMFORD, CT. — CB Richard Ellis' New York Institutional Group has brokered the $17 million REO sale of a 103,367-square-foot office building, located at 750 East Main St. in Stamford. Jeffrey Dunne, Steven Bardsley and David Gavin of the firm's Stamford office represented the seller, 750 Acquisition Co., and procured the buyer, East Main Street Equity Partners, an entity controlled by Aegean Capital.
THE WOODLANDS — Tridan II, LLC has purchased a 41,653-square-foot office building at 3606 Research Forest Dr. in The Woodlands from Lex-Gen Woodlands, L.P. Josh Cheatham and Dan Broyles Jr. of NAI Houston represented the seller, while Trey Martin of NAI Houston represented the buyer.
SAN JOSE, CALIF. – Harvest Properties and its partner, Stockbridge Real Estate, have purchased Central Park Plaza in Silicon Valley for an undisclosed sum. The recently renovated campus includes six, two-story Class A office buildings that total 300,954 square feet. HFF's Michael Leggett, Gerry Rohm, David Karol and Steve Golubchik participated in this transaction. Harvest Properties, which has managed Central Park Plaza since 2006, will continue to manage the property.
HOUSTON — Brookfield Office Properties has sold 1400 Smith St. in downtown Houston, a 1.3 million-square-foot office tower, for $340 million to Chevron, which leases the entire building. Known as Four Allen Center, it is located just east of Interstate 45 in downtown Houston. Chevron has leased the entire 50-story property since 2006. Jeff Hollinden and Dan Miller of HFF advised Brookfield Office Properties in the transaction.
HOUSTON — Broadstone Real Estate, LLC has announced that Broadstone Net Lease, Inc. (BNL) has completed the acquisition of three absolute net-leased properties for a combined purchase price of $9.5 million. Two of the properties are Houston medical office properties comprising 30,500 square feet of space. Both are leased to FM 1960 Family Practice for the next 12 years. General practitioners, eye physicians, respiratory specialists, oncologists and other medical groups utilize the space.
SAN DIEGO — Atkins North America has signed a 94-month lease at Gateway at Torrey Hills in Del Mar Heights, Calif. The lease is valued at $5.5 million. The engineering and design consulting firm was represented by Shawn Lorentzen of Jones Lang LaSalle. Cassidy Turley BRE Commercial's Joe Anderson, Rick Reeder and Dave Odmark represented the landlord, Prudential Real Estate Investors.
SALT LAKE CITY — CB Richard Ellis has brokered three long-term office leases at the 88,000-square-foot Lone Peak Center in Draper, Utah. Sales support call center O’Currance Teleservices leased 19,000 square feet, software development organization Xennsoft leased 8,000 square feet and peer-to-peer lending company Prosper leased 11,500 square feet. CBRE's Tab Cornelison represented the landlord, Maier Siebel Baber, in the transactions. CBRE's Scott Wilmarth represented O’Currance Teleservices.
WESTBOROUGH, MASS. — Jones Lang LaSalle has brokered the $20.1 million sale of 25 and 29 Research Drive in Westborough, a 320,912-square-foot office campus with up to 500,000 square feet of expansion potential. Scott Jamieson, Michael Smith, Phil DeSimone, John Duffy and Brandon Dickason of the firm's Boston office represented the seller and procured the buyers, National Development and Charles River Realty Investors.
