BEAUMONT, SAN ANTONIO AND WACO — Three office buildings, each 100 percent leased to the United States government for use as social security administration facilities, have sold in Texas. Located in Beaumont, San Antonio and Waco, the closed transactions totaled approximately $15 million after an undisclosed buyer assigned the contracts to a real estate investment trust familiar with government-leased property. The Silver Group of Northern California brokered the deals.
NEW YORK CITY — Massey Knakal Realty Services has completed the sale of the Original Williamsburg Savings Bank Building for $4.5 million. The 28,495-square-foot building is located at 151-175 Broadway in Brooklyn's Williamsburg neighborhood. The architecturally distinct property contains landmark designations for its dome, banking room and vault exterior. Brendan Maddigan, Mark Lively and Paul Massey, Jr., of Massey Knakal arranged the deal. The buyer was Juan Figueroa and the seller was Bullship Management.
HOUSTON — Park on the Bayou, a 159,563-square-foot office property, has sold. Located at 2500 East T.C. Jester Blvd. in Houston, the five-story building was most recently leased to the Federal Bureau of Investigation (FBI) for more than 16 years. However, it is 100 percent vacant today. ING Clarion Partners, represented by Rusty Tamlyn and Trent Agnew of Holliday Fenoglio Fowler, sold it to Boxer Management Corp. for an undisclosed price.
FORT WORTH — Cook Children's Health Care System has purchased a 2,100-square-foot professional building located at 1129 6th Ave. in Fort Worth, a building that had been leased by Cook for the past 10 years. Functioning as a medical office building for Cook pediatricians, the building sits on a 5,000-square-foot parcel of land.
DRAPER, UTAH — San Francisco-based Maier Siebel Baber (MSB) has purchased the 88,000-square-foot Lone Peak Center, located at 11747 Lone Peak Pkwy. in Draper, from M & I Regional Properties LLC. Terms of the deal were not disclosed. MSB plans to reposition the property, which is situated on the border of Draper and South Jordan in the midst of a rapidly growing concentration of tech firms and banking-support centers. Transwestern has been selected to manage the property. The first two leases — a full floor to O'Currance Teleservices and a 9,000-square-foot commitment by Xennsoft — are complete, with both tenants scheduled to take occupancy in early 2011.
EAST HAVEN, CONN. — New Haven Group has arranged the sale of a Class A office building in East Haven for $3.4 million. The two-story building is located at 100 South Shore Drive. Its 44,000 square feet was 85 percent occupied at the time of the sale by several financial and professional services firms. Steven Inglese of New Haven Group represented the seller, Marcy Realty. Tom Dineen represented the buyer, 100 South Shore Drive LLC.
EXETER, N.H. — Bauer Hockey has signed a lease relocating its global headquarters. The hockey equipment manufacturer will relocate from Greenland, N.H., to a 56,835-square-foot space in Exeter — doubling its office size. The new building, which totals more than 262,000 square feet, is located at 100 Doman Dr. and is owned by an affiliate of First Altex Realty Trust. Tenant improvements are currently under way. Margaret O'Brien of the Portsmouth, N.H., office of CB Richard Ellis represented Bauer. John Wilson and James Lipscomb of Richards Barry Joyce & Partners partnered with Mike Monks of Monks & Co. to represent the landlord.
SAN DIEGO — Cassidy Turley BRE Commercial has negotiated Northrop Grumman Systems Corp.’s more than $9 million lease of 93,161 square feet of office space within The Point in Rancho Bernardo located at 16765 West Bernardo Drive in San Diego. The tenant’s 65-month lease covers one of the two Class A office buildings in the complex, which also includes an R&D building. Cassidy Turley BRE Commercial’s Brian Driscoll, Tom van Betten and Brett Ward, as well as Tony Russell of Jones Lang La Salle, represented Prudential Real Estate Investors in the transaction, and CB Richard Ellis’ Tom Martinez represented the tenant.
BETHESDA, MD. — URDANG, and Moore&Associates have received a $100 million in financing to refinance a $87.2 million securitized loan for an office complex in Bethesda. The 10-year, fixed-rate loan was provided by John Hancock Insurance Co. A joint venture between Moore&Associates and a separate account managed by Urdang Capital Management Inc. acquired the three-building, 531,600-square-foot office complex in August 2005. The joint venture has made capital improvements to the property, including renovations to the building lobbies, restrooms and elevator lobbies. Additionally, the property's exterior was improved by renovating the the landscaping and the fountains.
NEW YORK CITY — Eastern Consolidated has brokered the sale of a nine-story office building located in Manhattan's Rockefeller Center for $31.5 million. The 43,774-square-foot property is located at 7-9 W. 51st St. Its vacancies include the 14,400-square-foot, ground-floor retail component as well as the 3,207-square-foot penthouse. The Eastern Consolidated team of Eric Anton, Ronald Solarz, David Schechtman, Roberto Ortiz and Marcia Yawitz represented the undisclosed seller and procured the foreign buyer.