TEMECULA, CALIF. — Madison Avenue Plaza, a two-building, 66,859-square-foot office project in Temecula, has sold to Providence Capital Speed Fund II for $5,825,000. The property is located at 27270-27290 Madison Ave. Providence was represented by Stan Tomer of CBRE. The seller, LNR Partners, LLC, was represented by Paul Lafrenz, Paul Komadina and Melissa Foster of the CBRE San Diego Private Capital Group, along with Dan Yeilding, also of CBRE.
CHARLESTON, S.C. — Holder Properties has started construction on the 75,000-square-foot Faber Pointe, a Class A office building located in The Executive Park at Faber Place in Charleston. Warner Summers designed the building and Integra Construction Co. is the general contractor. The building will be ready for tenants by year's end.
MARLBOROUGH, MASS. — Weetabix has signed a lease for 14,907 square feet of office space at the Marlborough Technology Park. Weetabix, a United Kingdom-based breakfast cereal manufacturer, will relocate to 300 Nickerson Rd. from Clinton, Mass. John Lashar, Paul Leone and Samantha Howell of Richards Barry Joyce & Partners LLC represented the landlord, Normandy Real Estate Partners, in the transaction. Jones Lang LaSalle represented the tenant.
BEDFORD — SkyWalker Property Partners has purchased a 70,938-square-foot office building, located at 3301 W. Airport Freeway in Bedford. The property is 57 percent occupied and is in a construction zone. SkyWalker was self-represented by Gary Walker and Shane Benner in the transaction. Tom Strohbehn of Grubb & Ellis represented the seller, a California-based family trust. Renee Efimoff and Justin McCarthy of SCM Real Estate Services will handle leasing responsibilities for the property.
DALLAS — HFF has secured a $22.7 million loan for the 296,360-square-foot 10000 NCX, a Class A office building located along Interstate 75 between Walnut Hill Lane and Royal Lane in Dallas. Travis Anderson of HFF arranged the three-year loan with a one-year extension through GE Capital Real Estate on behalf of the borrower, a joint venture between CREA Investments and Five Mile Capital Partners. The borrower is planning on using the loan to renovate the restrooms, make improvements to the corridor, update the lobby and add a fitness center.
LOS ANGELES — Global architectural practice Altoon Partners has signed a lease for 15,876 square feet at 617 W 7th Street in Downtown Los Angeles. The company will be relocating from nearby 444 S. Flower later this year. The new lease will bring the 7th Street building to 92 percent capacity. It was built in 1923 and is owned by The Swig Company.
NEW YORK CITY — A joint venture between HSBC Alternative Investments Limited and Edge Fund Advisors has purchased 4 New York Plaza, a 1.1 million-square-foot office tower in lower Manhattan. Virginia-based investment firm Harbor Group International was the seller. Industry sources value the transaction at about $270 million, including debt. Harbor Group acquired the property for $107 million in 2010 from JP Morgan, when the building was 75 percent occupied. The current occupancy is 95 percent and tenants include New York Daily News, U.S. News and World Report and American Media. The building is located on the southeast corner of Water and Broad streets.
NEW YORK CITY — International fashion brand Tony Burch has signed a 10-year lease for 80,000 square feet of office space at 350 Hudson St. in Hudson Square. The women's wear and accessory designer will occupy the 5th and 6th floors of the building. The nine-story building is also home to Havas and PR Newswire. Asking rents in the building are in the mid-$50s per square foot. Don Preate and Jaime Katcher of Cushman & Wakefield represented Tony Burch in the transaction. The landlord, Trinity Real Estate, was represented in-house by Marc Packman and Charles Laginestra.
ROCKY HILL, CONN. — Civil engineering firm United International Corp. has signed a lease for 6,713 square feet of office space at 55 Capital Blvd. in Rocky Hill. The company is slated to move in June 1. Michael Puzzo of CBRE represented New Boston in the transaction. Chris McLaughlin of McLaughlin Real Estate represented the tenant.
NEW YORK CITY — A joint venture between Stellar Management and Imperium Capital has purchased two SoHo office buildings located at 161 Avenue of the Americas and 233 Spring St. The buildings total 650,000 square feet and industry sources have cited a purchase price of $200 million. There were no brokers involved in the transaction. The properties are located within the Hudson Square Business Improvement District, a lower Manhattan neighborhood bounded by West Houston Street on the north, Canal Street on the south, 6th Avenue on the east and the Hudson River on the west. Hudson Square is home to several design and media companies.