CHARLOTTE, N.C. — Trinity Capital Advisors has purchased the debt and equity interest in NASCAR Plaza, an office building located in Charlotte. Situated in the city's central business district, the property offers 393,000 square feet of Class A office space. Trinity has partnered with Philadelphia-based Rubenstein Partners to improve the building's fundamentals.
ORLANDO, FLA. — Betsy Owens and Mindy Boehm of Cushman & Wakefield (C&W) have brokered the sale of 0.8 acres of land at 11602 Underhill Road and seven units totaling 6,704 square feet at Lake Underhill Business Center at 11616 Lake Underhill Road in Orlando. Vineel Sompalli acquired the property for $1.22 million. Sompalli plans to build medical office on the land and will use the office condos for administrative offices.
CHELMSFORD, MASS. — Parsons Commercial Group (PCG) has brokered the relocation of a technology firm to 300 Apollo Drive in Chelmsford. The undisclosed company is leasing approximately 60,000 square feet, which represents an expansion from its previous location at 100 Apollo Drive. The company will move in by April. Marci Alvarado of PCG represented the tenant in lease negotiations. Greg Cahill of Lincoln Property Co. reprsented the landlord, Chelmsford Associations.
SAN DIEGO — The Del Mar Union School District has purchased a 10,953-square-foot office building, located at 11232 El Camino Real in the Torrey Hills section of San Diego, for almost $4.33 million. CB Richard Ellis’ Paul Lafrenz, Paul Komadina, Christina Roush, Ryan Egli and Pat Collins represented the seller, Torrey Hills LLC, in the transaction, and Chuck Wasker of Colliers International and Mark Kagan of Tenant Rep Real Estate represented Del Mar Union School District, which will use the ground floor of the Class A office building for its district offices after relocating from its current location on 9th Street in Del Mar.
NEW YORK CITY — A joint venture between ING Clarion Partners and William Macklowe Co. has purchased a Manhattan office building for $45.2 million. The property is a six-story, 90,000-square-foot office building located at 636 Avenue of the Americas. The building was constructed circa 1900. It features 20,000 square feet of ground-floor retail space that is occupied by Sports Authority as well as developable air rights that would allow for the creation of a penthouse atop the existing roof. Darcy Stacom, Bill Shanahan, Paul Leibowitz and Robert Garrish of CB Richard Ellis represented the seller, APF Properties. The acquisition is Macklowe’s first following the formation of the company five months ago.
WATERTOWN, MASS. — Jones Lang LaSalle (JLL) has brokered the sale of two office buildings located in Watertown. Situated at 480 Pleasant St. and 5 Bridge St., the four-story buildings contain a total of 203,395 square feet. Originally constructed for use as mills, the waterfront properties are part of an 11-acre business campus. They contain a total of 40,000 square feet of clean room space as well as 800 parking spaces. JLL’s Bill Bailey and Scott Jamieson represented the seller, Boston Scientific Corp. The buyer was Farley White Interests. JLL will also assume leasing responsibilities for the property.
SOMERSET, N.J. — Prudential has disposed of a four building research and development campus located in Somerset. The buyer was an undisclosed investment group. The campus totals 174,892 square feet and is located on 24 acres at 101 Mettlers Road. It was most recently occupied by Exxon Biomedical but is now vacant. David Bernhaut, Gary Gabriel, Tom Walsh and Robert Donnelly, Jr., of Cushman & Wakefield represented the seller and procured the buyer. The acquisition price was not disclosed.
ARLINGTON, VA. — Holliday Fenoglio Fowler's (HFF) Washington, D.C. office has arranged a $100 million permanent loan for the future headquarters of Defense Advanced Research Projects Agency (DARPA) in Arlington. Located at 675 N. Randoplh St., the 13-story, 355,000-square-foot office project is the first phase of the 1.2 million-square-foot Founders Square mixed-use development. The Sooshan Company is handling the development of the facility, which is designed by RTKL. Completion is scheduled for 2012. Bill Asbill, Bob Donhauser and Dan McIntyre of HFF represented the borrower, Ashton Park Associates I, to secure the 15-year, fixed-rate loan from Prudential Mortgage Capital Co.
STERLING HEIGHTS, MICH. — Dynamic Lawn & Landscaping has acquired a 14,400-square-foot space in Sterling Heights for undisclosed price. The company plans to relocate its headquarters to the new location at 6450 Sims from Shelby Township, Mich. Chris Steele and Jason Capitani of L. Mason Capitani CORFAC International represented the seller, J&L Land Co., in the transaction.
BROOKLYN HEIGHTS, OHIO — Einheit Electric Construction Co. has acquired a 14,760-square-foot building, located at 239 Brookpark Road in Brooklyn Heights. Einheit plans to remodel the property and lease a portion of the building for additional revenue. Eliot Kijewski of CRESCO Real Estate represented the undisclosed seller and buyer in the transaction.