AUSTIN — Stream Realty Partners — Austin, L.P., a full-service real estate investment, development and services company, has purchased Plaza 35 from a special servicer. Located in the north Austin submarket, the office property is situated close to Interstate 35 and Parmer Lane at 12234 N. I-35 and is 35 percent leased. HFF brokered the sale.
ROCK HILL, MO. — ARCO Construction Co. is advancing construction for its new $3.9 million headquarters. The new office will be a two-story, 27,300-square-foot building located at 900 N. Rock Hill Road in Rock Hill. The company will relocate to the larger space from its previous headquarters at 1750 South Brentwood in Brentwood, Mo. GMA Design is serving as project architect. In addition to its headquarters, ARCO maintains offices in St. Louis; Kansas City, Kan.; Chicago; Cincinnati; Philadelphia: Atlanta; and Tampa, Fla.
NEW YORK CITY — Newton, Mass.-based Government Properties Income Trust (GOV) has acquired a 187,060-square-foot building in New York City for $114 million. The building is 100 percent leased to the United Nations. The purchase was funded by using cash on hand and drawings under GOV's revolving credit facility.
BOSTON, MASS. — Colliers International has secured a $25 million bridge loan for the 223,445-square-foot, 11-story Two Oliver Street, a Class A office building, located in the center of the Financial District in Boston. Kevin Phelan, Stephen Horan and Ryan Bradley of the Boston office represented the borrower, P6/Saracen Two Oliver Real Estate, a joint venture between Saracen Properties and AEW Capital Management, L.P. Webster Bank, the main subsidiary of Webster Financial Corp., financed the transaction.
CLAREMONT, CA – Colliers International has sold a 16,496-square-foot office building for $4 million. Located at 358-398 W. Foothill Blvd., the building was originally constructed in 1958 and has since undergone two remodels. Han Chen, a senior associate in Colliers’ Downtown Los Angeles office, represented the buyer. NAI Capital’s Cheryl Pestor represented the seller, Community Commerce Bank.
OXNARD, CA – DeVry and NewLeads have signed leases for space at the 600,000-square-foot Topa Financial Plaza. DeVry, a professional school, will occupy 15,000 square feet at 300 E. Esplanade Dr. starting in July. NewLeads, which provides management solutions and trade show lead retrieval software, will occupy 7,000 square feet at 400 E. Esplanade Dr. beginning in August. DeVry was represented by Newmark Knight Frank. NewLeads was represented by Bill Kiefer and Steve Doll of NAI Capital’s Ventura County office. Kiefer and Doll also represented the plaza’s owner, Topa Management, in both leasing transactions.
FRISCO — Wells Core Office Income REIT has acquired Duke Bridges I and II, two Class A office buildings in Frisco that are fully leased to T-Mobile West Corp. and EFA Processing. Built in 2006, the buildings contain 284,198 square feet and are located on Warren Parkway. Norcross, Ga.-based Wells was represented internally by Keith Willby.
ASHEVILLE, N.C. — A local investment group has purchased the 57,000-square-foot Biltmore School Building, located on Hendersonville Road in Asheville, to restore the structure and create professional office space. Rick Grant of Asheville-based Beverly-Grant is leading the development team and Alan McGuinn of CJMW Architecture's Asheville office will oversee the project, which will include restoring the facade with original design elements and upgrading major systems including plumbing, electrical and high-efficiency HVAC. The total expected cost is $12 million.
EAST WINDSOR, N.J. — GHP Office Realty has sold the 66,000-square-foot 104 Windsor Center, located in East Windsor, N.J., on behalf of the seller, a group of private investors. Thomas Romano of Newmark Knight Frank's Princeton, N.J., office represented the buyer, a New York City-based private investor who owns several other Princeton area properties.
MANCHESTER, N.H. — Danais Realty Group has purchased the 12-lot, 126-acre Phase I of the Northwest Business Park at Hackett Hill from the City of Manchester for $2.8 million. Danais plans to build up to 1.2 million square feet of office, R&D, manufacturing, warehouse and distribution space on the currently undeveloped site. CB Richard Ellis is the listing agent for the Northwest Business Park.