LAS VEGAS – MIG Real Estate has sold the 100,000-square-foot, Class A Sunset Pilot Plaza in Las Vegas to Ameriprise Financial for an undisclosed sum. The office property, which is situated within the 3.3-million-square-foot Hughes Airport Center business park, was built in 2008 and acquired by MIG in 2010. CBRE's Darren Lemmon represented MIG. CBRE's Charles Snyder and Randy Broadhead represented Ameriprise Financial.
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FORT LAUDERDALE, FLA. — A joint venture between Crocker Partners and Westcity Realty has acquired the 236,00-square-foot One Financial Plaza, located on more than four acres at 100 S.E. Third Ave. in downtown Fort Lauderdale, for $44 million. The property includes the 28-story, Class A office building plus two adjacent development sites. Crocker Partners will be responsible for asset management, and Westcity Realty will provide on-site management.
TAMPA, FLA. — A 250,000-square-foot build-to-suit office building is scheduled to begin construction this week at MetWest International in Tampa for approximately $78 million. PwC US has signed a long-term lease at the building to combine the firm's Tampa office and Tampa Enterprise Solutions Center, which currently operate in separate locations. Timothy Dempsey and Bill Obregon, with CB Richard Ellis' Tampa office, represented PwC in the lease transaction, while MetLife was represented by Hank Brenner and Angela Odell of Taylor & Mathis' Tampa office. Taylor & Mathis will act as the development manager of the project.
HUNT VALLEY, MD. — Merritt Properties has started construction on Schilling Green II, a four-story office building and single-story annex, located at 225 Schilling Cir. in Hunt Valley, which is expected to meet LEED Platinum certification when it is completed in late August 2012. Schilling Green II is located within Merritt's Schilling Circle development and has already secured a 75,400-square-foot lease from EA Engineering, Science and Technology, Inc.
BROOKFIELD AND WAUKESHA, WIS. — Liberty Property Trust has sold four office properties totaling 338,000 square feet of space in suburban Milwaukee. Two properties are located in Brookfield at 15800 Bluemound Rd. and 245 S. Executive Dr.; and two are located in Waukesha at 20700 Swenson Dr. and 20800 Swenson Dr.
NEW YORK CITY — Time Equities Inc. has completed a $4.3 million sale for 8,200 square feet of office space at 131 W. 33rd St. in New York City for the Drug Policy Alliance (DPA), a not-for-profit organization. DPA will occupy the entire 15th floor and will join tenants Progressive Credit Union, Bijoux (Bodhi Bags) and Gammon Ragonesi Associates. Brandon Medeiros of Time Equities represented the seller and Carri Lyon of Cushman & Wakefield represented DPA.
NEW YORK CITY — Cerberus Capital Management has leased 110,000 square feet of office space and will occupy the 10th, 11th, 12th and 14th floors of Class A office building at 875 Third Ave. Paul Glickman and Diana Biasotti of Jones Lang LaSalle’s New York office represented the building owner, Eastgate Realty, and Stephen Siegel and Amanda Bokman of CB Richard Ellis represented Cerberus Capital. The 720,000-square-foot office building is now more than 98 percent leased.
ATLANTA — The law firm of Morris, Manning & Martin has renewed its 125,000-square-foot lease extension at the 900,000-square-foot Atlanta Financial Center. The lease keeps the firm's headquarters in Buckhead while expanding its space by 11,000 square feet. Jones Lang LaSalle, which represented Morris, Manning & Martin LLP, had been negotiating a lease on behalf of the firm at the Campanile office tower in Midtown. However, the firm decided to renew negotiations for space at the Atlanta Financial Center after lease negotiations with Campanile landlord Dewberry Capital Corp. reached an impasse. The firm's offices have been located at the Atlanta Financial Center since 1987. Its staff has expanded from 26 to more than 350 employees in that span.
NEW YORK CITY — Micro Office Solutions has leased 33,000 square feet on the sixth and seventh floors at 902 Broadway in New York’s Silicon Alley. Micro Office Solutions will use the space for its Launch Pad initiative, an office suite division targeted to technology and new media startups. Launch Pad will open in the fall and include 70 private offices and 130 work stations. Colliers International’s Perry Mesmer and Martin Meyer represented Micro Office and building owner 902 Associates. Asking rent is $39 per square foot.
DALLAS — The Dallas office of Grubb & Ellis Co. has recently completed the following lease transactions in the Dallas area: InternetBusinessGroup.com Inc. has leased 26,673 square feet of office space in Westpoint 1 at 1255 Corporate Dr. from Daymark Realty Advisors Inc. Russ Johnson and Noreen Mehdi of Grubb & Ellis represented InternetBusinessGroup.com, and Noran Hogan, Alan Harrington, Robert Deptula and Natalie Snyde of Transwestern represented Daymark. Mixed4Media Inc. has extended its lease from Kodiak Capital Management Co. for 7,495 square feet of office space in the Country Club Plaza at 1701 Legacy Dr. Heather Densmore Shover and Mehdi of Grubb & Ellis represented Mixed4Media and Kodiak were self-represented. Management Decisions-MDI Inc. has leased 2,297 square feet of office space from Kodiak in the Country Club Plaza. Shover and Mehdi of Grubb & Ellis represented Management Decisions-MDI, and Stephen Holley of Jones Lang LaSalle represented Kodiak. Bridgemetrics has leased 3,023 square feet of office space in Country Club Plaza from Kodiak as well. Densmore and Mehdi represented Bridgemetrics, and Damian Rivera of Stream Realty Partners represented Kodiak.