SCOTTSDALE, ARIZ. — Cassidy Turley BRE Commercial has negotiated the $16.25 million investment sale of the five-building, 177,173-square-foot La Curvata, a Class A office/showroom development located directly across the street from DC Ranch at 18760, 18850, 18940, 19030 and 19120 North Pima Rd. in Scottsdale. Built in 2009, though 73 percent in shell condition, and 27 percent leased at the time of sale, the property was acquired by OPM4 LLC, an Oregon-based company formed by Harvest Development LLC. Cassidy Turley’s Rick Danis, Eric Wichterman, Paul Boyle and Mike Coover negotiated the sales transaction on behalf of Pima Holding Co., which is owned by a collection of five participating banks led by National Bank of Kansas.
LOUISVILLE, KY. — KBS Real Estate Investment Trust II (KBS REIT II) has acquired National City Tower in downtown Louisville for an undisclosed price. Situated on 2.6 acres in Louisville's Main Street Corridor, the 40-story towers offers 723,300 square feet of Class A office space. The building is 96-percent occupied by a variety of tenants, including PNC Bank, Humana, Greenebaum Doll & McDonald and Dinsmore & Shohl. Paul Lundstedt and John Gain of Grubb & Ellis, along with Craig Collins of Commercial Kentucky, represented the undisclosed seller. KBS Capital Advisors represented KBS REIT II in the transaction.
TOWSON, MD. — Baltimore, Md.-based Merritt Properties has purchased The Exchange, which is located at 1122 Kenilworth Dr. in Towson. The building offers 88,257 square feet of Class A office space. Bo Cashman and Jonathan Beard of CB Richard Ellis represented the seller, Riderwood Associates Limited Partnership, in the transaction. The acquisition price was not released.
PITTSBURGH — An affiliate of Philadelphia-based PMC Property Group has purchased Pittsburgh's Verizon Building for $4.4 million. The 285,000-square-foot office building is located at 201 Stanwix St. Randall McCombs and Michael Sell of Grant Street Associates represented the seller, a Santa Monica, Calif.-based limited partnership. Rudyard Porter of Porter Advisors represented the buyer.
STERLING, VA. — Bethesda, Md.-based First Potomac Realty Trust has purchased Atlantic Corporate Park, which is located at 45600 and 45610 Woodland Road in Sterling. The two-building office property offers 219,980 square feet of Class A office space. Dexus Dulles Town Crossing sold the property, which is LEED Gold certified. David Gast and Erik McLaughlin of CB Richard Ellis represented the buyer in the transaction.
BELLEVUE, NEB. — Jasper Stone Partners has purchased Bellevue Professional Center, a 46,639-square-foot office building in Bellevue. Situated on 6.12 acres, the property sold for $5.6 million. Ember Grummons of Investors Realty represented the buyer; Tim Kerrigan and J.P. Raynor, also of Investors Realty, represented the seller, Britain Towne, in the transaction. The transaction included multiple lease renewals, a tenant expansion and an expansion of the parking lot.
ROCKFORD, ILL. — A Chicago-based investor has completed the disposition of a 77,200-square-foot office building in Rockford. Located at 2787 McFarland, the property, which is occupied by Blue Cross Blue Shield, sold for $12.3 million. Craig Tomlinson of Stan Johnson Co. represented the seller; Kevin Lynch of Sperry Van Ness represented the buyer, a California-based investor, in the transaction.
NEWTON, MASS. — Richards Barry Joyce & Partners (RBJ) has brokered the sale of a Newton office building for $11.15 million. Situated at 313 Washington St., the property totals 81,603 square feet over four floors. Occupancy was 91 percent at the time of closing. RBJ's Frank Petz and James Tribble represented the seller, a fund managed by Transwestern Investment Co. The buyer was Taurus New England Investment Corp.
HOUSTON — Behringer Harvard has achieved LEED Gold certification for three of its Houston office properties — One City Centre, One and Two Eldridge Place, and One Briar Lake Plaza. One City Centre is a 31-story office tower that was constructed in 1961 and renovated in 1999, and is comprised of approximately 600,000 square feet of space. One and Two Eldridge Place are comprised of more than 500,000 square feet of space between them and were built in the mid 1980s. And One Briar Lake Plaza is a 20-story office property built in 2000 that is comprised of more than 500,000 square feet of space. Sustainable practices executed to these three Houston office towers included significant reductions in water usage, comprehensive recycling, renewable energy purchases and filtration for improved air quality.
ALACHUE, FLA. — Construction is currently under way for the new headquarters of National Center for Construction Education and Research in Alachue. The two-story, 31,000-square-foot facility will feature a modern, contemporary design housing several office suites and a multi-purpose conference center. Additionally, the building was designed to achieve LEED Silver certification. The Haskell Company provided architectural services for the project. Completion is slated for fall 2011.