SAN ANTONIO AND AUSTIN, TEXAS — Grubb & Ellis' Central Texas offices have completed two transactions in San Antonio and Austin. In the first transaction, Rick Stagers of Grubb & Ellis' San Antonio office represented Ronnie Wilson in the disposition of a 2.4-acre land parcel, located at 10920 Bandera Road in San Antonio, to William Sweatt. Humphrey Hassing of Home Team America represented the buyer. In the second transaction, Quality Systems Inc. inked a deal to lease 21,148 square feet at 12301 Riata Trace Parkway in Austin. Robert Bantly and Brian Butterfield of Grubb & Ellis' Austin office represented the tenant; Richard Paddock of HPI Corporate Services represented the landlord, Spear Street Capital, in the transaction. Terms of the transactions were not released.
HOUSTON — Jack in the Box has leased 6,097 square feet of space at 1225 North Loop West in Houston. The 11-story, Class A office building is owned by 1225 North Loop Investments Inc. John Pruitt and Jessica Ochoa of CB Richard Ellis represented the landlord in the transaction. The lease terms were not disclosed.
LOS ANGELES — Studley has negotiated Gordon & Rees LLP’s new 10-year lease for 40,355 square feet of space at the 73-story US Bank Tower, located at 633 West 5th Street in downtown Los Angeles. The law firm, which was subleasing floors 49 and 52 from Pacific Enterprises, will now occupy two contiguous floors — 52 and 53. Studley’s Mark Sullivan and Andrew Lustgarten represented the law-firm tenant, which has been in the building since 2006, in the transaction; the landlord, Maguire Partners, was represented in-house by Josh Wrobel. According to Studely, Gordon & Rees received a significant tenant-improvement allowance, allowing the firm to upgrade and reconfigure its space on the two contiguous floors at no out-of-pocket cost.
ASHLAND, VA. — California Imports LLC has purchased an office/warehouse property, which is located at 11111 Leadbetter Road in Ashland. American Steel & Aluminum sold the 40,850-square-foot property for $1.85 million. Kevin Cox of Porter Realty Co. represented the buyer in the transaction.
NEWTOWN, PA. — ARI Mutual Insurance has purchased an office building in Newtown from Catalyst Corp. The two-story, 18,989-square-foot building is located at 125 Pheasant Run. Matthew Devine and Douglas Joseph of Grubb & Ellis represented the seller, and Robert Bull of Studley represented the buyer. The acquisition price was not released.
HOUSTON — Fortitude Management Group, a privately held oil and gas company, has renewed and expanded its lease at One Memorial City Plaza in Houston near Interstate 10 and the Sam Houston Tollway. Represented by Scott Fikes and Alex Bryant of Grubb & Ellis, Fortitude re-signed for 37,231 square feet of Class A office space. MetroNational leases the 34-story, 400,000-square-foot One Memorial City Plaza and was represented in house by John Green and Jerrod McQuan.
SUNNYVALE, CALIF. — Cassidy Turley CPS and CB Richard Ellis teamed up in a more than 257,000-square-foot lease renewal and expansion at the Sunnyvale City Center, a three-building, 472,358-square-foot Class A office campus located at 100, 150 and 190 Mathilda Place in downtown Sunnyvale. Cassidy Turley CPS’s Steve Horton and CB Richard Ellis’ Jeff Houston represented the property owner, JP Morgan, in the transaction, and Jones Lang LaSalle’s Andy Poppink and Bart Lammersen represented the tenant, Broadcom. With its renewed lease for 180,134 square feet at 150 Mathilda Place and its 77,050-square-foot expansion at 100 Mathilda Place, Broadcom will now occupy more than half of the entire campus.
MIAMI — AIDS Healthcare Foundation (AHF) has purchased a two-story retail/office building in Miami. Located at 1510 Alton Road, the 8,200-square-foot property sold for $3.18 million. AHF plans to use the property to operate as a healthcare facility, a pharmacy, a clinic and a thrift store. The seller was Florida-based Alton XV Corp. Stephen Gaunt and Eric Gaunt of CresaPartners represented the buyer in the transaction.
CHICAGO — The Alter Group has partnered with White Oak Realty Partners to develop 625 West Adams Street in downtown Chicago. The 20-story tower will offer 490,000 square feet of Class A office space, a 400-stall parking garage and an 800-seat community center serving Old St. Pat's Church. Martin Wolf with Chicago-based Solomon Cordwell Buenz & Associates designed the building.
NEW YORK CITY — Jones Lang LaSalle (JLL) has arranged a 70,476-square-foot office lease at Black Rock, a 908,000-square-foot office building located at 51 W. 52nd St. in New York City. Law firm Dorsey & Whitney LLP will occupy the space, consisting of the tower's eighth through 10th floors, for a 15-year term. It will relocate from its current offices at 250 Park Ave. The JLL team of Peter Riguardi, Frank Doyle, Barbara Winter and Andrew Flint represented the landlord, CBS Broadcasting. The Cushman & Wakefield team of John Cefaly, Gus Field and Donald Preate represented the tenant.