ATLANTA — The 375,085-square-foot One Georgia Center, located at 600 W. Peachtree St. in Atlanta, has been sold for $48.6 million. Stewart Calhoun, David Meline, Samir Idris and Casey Masters of Cushman & Wakefield's Atlanta office represented Cousins Properties, the seller, in the transaction. Newton, Mass.-based Government Properties Income Trust was the buyer.
HARLEYSVILLE, PA. — King of Prussia, Pa.-based Jack Horner Communications Inc., a public relations firm, has purchased the former Harleysville National Bank Building in Harleysville, Pa. The two-story, 11,381-square-foot building is located at 474 Main St. The Harleysville National Bank property was previously owned by First Niagara, which also financed the transaction. Jack Horner Communications plans to renovate and move into the space in January from its current headquarters. Terry Derstine of Harleysville-based Prudential Rittenhouse Realty Group represented both parties in the transaction.
THE WOODLANDS — The Woodlands Development Co. will soon break ground on the 192,000-square-foot 3 Waterway Square Place, a nine-story office building located in The Woodlands Town Center at the corner of Lake Robbins Drive and Woodloch Forest Drive in The Woodlands. The building was designed by Boston-based Elkus Manfredi. The top three floors are pre-leased to Nexeo Solutions. The building is slated for an early 2013 completion.
HOUSTON — CBRE has arranged $19.2 million in financing for 2603 Augusta, a 242,447-square-foot office building in Houston's Galleria area. Bernard Branca of CBRE's Houston office, along with John Clifford and Keith Huizinga of the firm's Chicago office, arranged the 3-year loan through Bank of America on behalf of the borrower, CBRE Strategic Partners U.S. Value 5, LP.
SIERRA VISTA, ARIZ. – The 23,485-square-foot General Services Administration (GSA) building in Sierra Vista has sold to a New York-based REIT for $7.4 million. The property is a former Lazy Boy showroom that was renovated and converted into an eco-friendly office building. It is fully occupied by the Department of Interior. The U.S. Federal Government has a 10-year lease at the single-tenant, freestanding property. The transaction was brokered by Mark Phillips, managing director of Sperry Van Ness.
NASHVILLE, TENN. — MarketStreet Enterprises has chosen Spectrum/Emery to develop, lease and manage 1.5 million square feet of office space at the 60-acre, $450 million The Gulch, a master-planned community located in Nashville's central business district. Five Class A buildings will be constructed on the site. Targeted tenants include Fortune 500 companies and businesses within the music, financial, legal, healthcare and technology industries. Solid groundbreaking and completion dates have not been set at this time.
BOSTON HEIGHTS, OHIO —Gladstone Commercial Corp. has purchased a 25,000-square-foot office building in Boston Heights, Ohio for approximately $4.7 million. The property was a new build-to-suit for Paychex North America, a subsidiary of Paychex Inc. The tenant leased the property for 10 years and has three options to renew the lease for additional periods of three years each. Buzz Cooper of Gladstone Commerical Group represented Gladstone in the transaction.
AUSTIN — Houston-based GSL Welcome Group has acquired the 54,865-square-foot Tuscany Technology Center Building 4, an office/flex facility located in the Tuscany Center at Walnut Creek at U.S. 290 and Tuscany Way in Austin. The building is leased to Gila Corp. Timothy Heinrich and Blake Royal of Houston-based BoyarMiller's Business Group represented the buyer. The seller was McShane Development Co.
CUPERTINO, CALIF. – Roamware has relocated its headquarters and tripled its space by leasing an office at 20401 Stevens Creek Blvd. in Cupertino. It was previously located at 3031 Tisch Ave. in San Jose. The mobile solutions provider was represented by Sushma Malhotra and Mike Mordaunt of CresaPartners in San Jose. The building’s landlord, De Anza Properties, was represented in-house by Carla Wilkey.
DULUTH, GA. — Gwinnett Center, a 263,742-square-foot office complex consisting of three buildings, was acquired for $14.1 million from a senior lender by Orlando, Fla.-based Global Growth Trust, Inc., a non-traded real estate investment trust (REIT), after the previous owners defaulted on their debt payments. The Duluth property, located adjacent to the Pleasant Hill Road and Interstate 85 interchange, is 41 percent leased by tenants in the healthcare, education and engineering industries.
