SHARONVILLE, OHIO — Cinelect Inc. has acquired Crowne Point, a 25,600-square-foot office building in Sharonville, for $1.67 million. The property was in receivership at the time of sale. Brian Graham of Cincinnati Investment Services served as advisor the seller and lender in the transaction, Wells Fargo. The building at 200 Crowne Point Dr. is situated on 2.5 acres.
NEW YORK CITY — The New York City Department of Law has renewed its lease for 372,520 square feet of office space at 100 Church Street, the 1.05 million-square-foot building in Manhattan. The city's lease, which was set to expire in October 2013, will commence in November 2013 covering floors 2-6 and a portion of the building's concourse level. Additionally, building owner SL Green recently refinanced the property with a $230 million, 10-year loan bearing an interest rate of 4.6 percent. Wells Fargo Bank provided the financing, which the company says will be be used for general corporate purposes. Michael Geoghegan and John Morrill of CBRE represented the City of New York in the transaction. Peter Strauss and Christopher Smith of Shearman & Sterling represented SL Green.
SAN DIEGO – Trigild has moved its corporate headquarters to new offices in San Diego’s Golden Triangle/University Towne Centre (UTC) neighborhood. The firm will occupy a 13,500-square-foot space at 9339 Genesee Ave. Trigild has been the property manager for this building since November 2011. The new space is located within the Genesee Executive Plaza.
WEST PALM BEACH, FLA. — Gaedeke Group has started construction on a $2.5 million renovation of the 288,233-square-foot Northbridge Centre, located at 515 N. Flagler Dr. in West Palm Beach. The renovations will include addition of stylish wall coverings and brushed nickel fixtures. Additionally, technological upgrades will occur in the conference rooms on the third floor, and the first floor will receive wireless connectivity, display equipment, drop down screens and new telephone systems. The common rooms also received a cosmetic upgrade. Completion is slated for September.
MINNEAPOLIS — Opus Development Corp. plans to construct a 212,000-square-foot office building in Minneapolis for the new Xcel Energy Inc. headquarters. The site, on the corner of Fourth Street and Nicollet Mall, is just across the street from Xcel's current headquarters. Xcel will move into the building in 2016. Opus plans to begin construction in 2014. The planned Xcel Energy office building is adjacent to Nicollet Residences, a new high-rise apartment building that Opus is also developing adjacent to the site.
LIBERTYVILLE, ILL. — MBX Systems, a technology manufacturer based in Wauconda, Ill., is relocating its headquarters to an 84,000-square-foot facility in Libertyville. The company signed a 7-year lease with the property owner, K&R Enterprises 1, and MBX plans to invest $2 million in remodeling and equipping the facility. The building is located at 1900 Winchester, just south of the Libertyville Township Soccer Complex along Route 45. MBX moved to its existing facility in Wauconda in 2005 and expanded the building to 19,000 square feet in 2009. The company plans to expand its workforce by 25 percent this year.
NEW LONDON, CONN. —Lawrence and Memorial Hospital in New London has purchased a 48,000-square-foot office building formerly occupied by Pfizer for $2.5 million. The building is located at 194 Howard St. and will be retrofitted to accommodate physicians who have been scattered throughout L&M's main campus. The renovations are expected to be complete in early 2014. Stephanie Pious of Colliers International represented Lawrence and Memorial Hospital in the transaction. Nicholas Morizio, also of Colliers, represented the seller, Amber Properties LLC.
THE WOODLANDS — The Lionstone Group has repurchased the Waterway Plaza I & II office buildings, two Class A properties located in The Woodlands totaling 366,000 square feet. The company owned the buildings from 2003 to 2005. The Lionstone Group purchased the properties through CFRE Partners One, a $252 million investment vehicle. Trent Agnew, Robert Williamson and Jeff Hollinden of HFF represented the seller, Daymark, in the transaction. Eric Anderson of Transwestern is handling the leasing for the properties.
DALLAS — Younan Properties has sold the 19-story, 398,767-square-foot Four Forest Plaza, a Class A office building located on Merit Drive in Dallas' Central Expressway submarket. CBRE represented the seller in the transaction. The buyer, Adler Realty Investments, was self-represented.
PLANO — Dallas-based Primera Cos. has plans to construct a two-story, 51,333-square-foot office building, a Class A property that will be located at 5151 Headquarters Drive in Legacy Business Park in Plano. The building is slated for a summer 2013 completion. Myers & Crow Co. will develop the property that was designed by Gromatzsky Dupree & Associates. Legacy Texas Bank provided construction financing, and Trevor Franke and Aarica Mims of Peloton Real Estate Partners are handling the property's leasing responsibilities.