MINNETONKA, MINN. — Behringer Harvard has disposed of 12600 Whitewater Drive, a 70,705-square-foot office building located within Minnetonka Corporate Center in Minnetonka. The property features a two-story atrium, a cafeteria, a patio and a heated garage. It is fully leased to Associated Financial Group, Vanco Services and KMG America. The buyer and purchased price were not released. Behringer Harvard first purchased the building in 2006.
WALPOLE, MASS. — Walpole-based John D. Murphy Co. has broken ground on a 117,200-square-foot office and warehouse building at the seven-building, 466,000-square-foot Walpole Park South complex, which is fully leased. Boston-based NAI Hunneman is the leasing agent for the property, which is slated for completion this fall.
BOSTON — Cushman & Wakefield has brokered the $13.85 million sale of the 62,146-square-foot 131 Clarendon, an office and retail building in Boston. Robert Griffin, Jr., and Frank Nelson of Cushman & Wakefield's Capital Markets Group's Boston office represented the seller and procured the buyer, Brookline Bancorp.
HOUSTON — BBVA Compass, a financial institution that operates 380 branches in Texas, has broken ground on its new corporate office building, a 22-story, 312,000-square-foot LEED Gold certified structure of which BBVA Compass will occupy approximately 150,000 square feet and six floors in Houston. BBVA Compass' current corporate office buildings are located throughout the greater Houston area and were established when BBVA combined its four U.S. subsidiaries — Compass Bank, State National Bank, Texas State Bank and LNB (formerly Laredo National Bank) — under the BBVA Compass banner in 2009. The new office will centralize the bank's local executives, multiple business areas and staff units under a single roof at 2200 Post Oak Blvd. in Houston.
SAN FRANCISCO — Harvest Properties has chosen a 128,838-square-foot historic property for its first San Francisco-based acquisition. The building, located at 115 Sansome St., is about 80 percent leased. Tenants include Utility Reform Network, DHC USA and the corporate headquarters for Specialty’s Café. Senior vice presidents Tony Crossley and Tim Maas, of Colliers International’s Investments Services Group, represented the seller, The Swig Company.
MINNEAPOLIS — Construction has commenced for the renovation of the Ford Center, a 265,000-square-foot office building located in Minneapolis' Warehouse District. The project, which was designed by HGA and will be completed by RJM Construction, will include replacing 1,000 windows, adding a new two-story entrance and updating the main level hallway, replacing building systems and other interior build-outs. Completion is slated for the fall. The building is owned by United Properties.
HOFFMAN ESTATES, ILL. — McShane Development Co. has completed the new Americas headquarters for NSK America Corp., a division of the Japanese company NSK Nakanishi. The single-story, 26,833-square-foot facility is located at 1800 Global Pkwy. within the Huntington 90 business park in Hoffman Estates. The building features a showroom, private offices, conference rooms, a cafeteria, and a repair and testing area. The flex space contains 24-foot clear ceilings, a drive-in door and two loading docks. McShane and Ware Malcomb provided design/build services. McShane and MetLife Real Estate Investments own Huntington 90.
MAHWAH, N.J. — Hackensack, N.J.-based NAI James E. Hanson has brokered the $2.68 million sale of a 29,050-square-foot office/flex building, located at 330 Franklin Turnpike in Mahwah. Kenneth Lundberg represented the seller, Raia Properties, and procured the buyer, Interstate 330.
HOUSTON — Trammell Crow Co. (TCC), in a joint venture with Principal Real Estate Investors, has purchased a 10-story Class A office building totaling 497,000 square feet located at 20555 State Highway 249 in Houston's Northwest submarket. The building was formerly owned and served as the corporate headquarters for Compaq Computer Corp. and later Hewlett-Packard Co. The acquisition also includes the purchase of an adjacent five-story parking garage and a 3.5-acre development site for future expansion. The joint venture plans a significant renovation program, including renovations and upgrades to lobbies, landscaping, common areas, signage and other aspects of the building. In addition, the ownership plans to seek Energy Star and LEED-EB (Existing Building) certification.
SAN DIEGO — Internet Marketing SEO has leased 7,962 square feet of class A office space at Cush Plaza Scripps Ranch. The 65-month lease is valued at about $1,000,000. It is nearly 40 percent leased. Spec suites ranging from 2,100 square feet to 8,000 square feet are currently under construction. They are expected to be complete by fall 2011. NAI Capital's Doug Ceresia, Matt Midura and Josh Buchholz represented Internet Marketing SEO. CBRE's Jeb Bakke and Ryan Egli represented the owner, Treena Properties, LLC.
