DURHAM, N.C. — Cree Inc. has acquired 60,000 square feet of office space, located at 4600 Silicon Dr. in Durham, from Pinnacle Park, for $3.65 million. Jim Allaire, Chris Norvell and Jackson Rives of Cassidy Turley's Raleigh, N.C., office represented the buyer in the transaction. Lee Clyburn of Grubb & Ellis Thomas Linderman Graham's Raleigh office represented the seller.
SHELTON, CONN. — Washington Trust's Commercial Real Estate Group provided a $1.9 million commercial mortgage to 889 Bridgeport Properties LLC for the acquisition of a 55,582-square-foot office building in Shelton, Conn. Located at 889 Bridgeport Ave., the two-story building is situated on more than eight acres.
THE WOODLANDS — RPC Oil and Gas has leased a 79,000-square-foot office/warehouse property, located in Black Forest Technology Park at 2828 Technology Forest Dr. in The Woodlands. The facility consists of 61,000 square feet of office space and approximately 18,000 square feet of warehouse space. Rob Banzhaf, Trey Halberdier and Tiffany Nuche of BANDIER Realty Partners represented the tenant, and the landlord, The Woodlands-based Black Forest Ventures, was self-represented by Sean Quinn.
MOUNTAIN VIEW, CALIF. – Synopsys and 690 E. Middlefield Road Fee, a joint venture of Dostart Development Company and Rockwood Capital, have entered into a long-term lease agreement for a new Class A office campus in Mountain View. The project is located at 690 E. Middlefield Road and is entitled for 340,000 square feet. It is scheduled to open in 2015 and is designed to achieve LEED-Gold certification. Synopsys was represented by Warren Wixen and Scott Flanagin of Warren Wixen Real Estate Services, and Gregg von Thaden and Jeffrey Nochimson of Colliers International. The joint venture was represented by Phil Mahoney, Jeff Arrillaga and Kevin Cunningham of Cornish & Carey Commercial Newmark Knight Frank.
WOODLAND HILLS, CALIF. — Music Reports has leased 31,630 square feet at 21122 & 21204 Erwin Street in the Warner Center area of Woodland Hills. This additional space will allow Music Reports to expand with its growing business. It also occupies an adjacent building. Jay Rubin and Marc Spellman of Lee & Associates-LA North/Ventura represented both the tenant and the landlord, Turnberry Properties, in this transaction.
REDWOOD CITY, CALIF. – A 5,985-square-foot office property located at 2944-2946 Broadway Street in Redwood City has sold for $1,425,000. The buyer plans to renovate the facility before moving into its vacant space. The property is currently 50 percent leased to the U.S. Government and the Veteran’s Center. It was marketed exclusively by Bill Allen, an investment specialist in Marcus & Millichap’s Palo Alto office.
RICHMOND, VA. — The 382,570-square-foot Deep Run 3, located at 9954 Mayland Dr. in Richmond, has been sold for $12.4 million. Mark Douglas of Cushman & Wakefield — Thalhimer's Richmond office represented the buyer, DR III, a joint venture between DRV and Markel-Eagle Partners, in the transaction.
GAINESVILLE, FLA. — The $11 million, 46,000-square-foot Florida Innovation Hub, located at the University of Florida in Gainesville, has been completed. The “business incubator” houses the UF Office of Technology Licensing, UF Tech Connect and more than 30 startup technology companies. Ponikvar & Associates designed the building to achieve LEED Gold certification, and Charles Perry Partners completed construction on the project.
CHICAGO — Phillips Electronics, a health and well-being company, has signed a long-term lease renewal for 73,753-square-feet in O'Hare International Center I, a Class A office complex, located at 10275 W. Higgins Rd. in Chicago, Ill. Greg Raus, Molly Carroll, Jen Wrinkle and Rick Fahey of Chicago, Ill.-based Jones Lang LaSalle represented Philips Electronics in the transaction. Josh Robbins represented the building manager, Indianapolis-based Duke Realty.
MARLBOROUGH, MASS. — Doble Engineering has signed an 11,222-square-foot office lease at 325 Donald Lynch Blvd. in Marlborough, Mass. Tim Latham and Kevin Malloy of Lincoln Property Co.'s Boston office represented the tenant in the transaction. Rick Putprush, Victor Galvani and Matt Morgan of Parsons Commercial Group represented the landlord, Marlborough-based Ferris Development.
