DALLAS — 1120 Empire Central Place, a three-story, 23,000-square-foot office building in the Empire Central submarket of Dallas, has sold to a private investment group that plans to re-tenant the asset. Kerry Assa and Tony Albanese of Dallas-based Bright Realty negotiated the sale on behalf of SB&T Assets Corp.
NORWALK, CT. — Clarion Partners, on behalf of one of its pension fund clients, has acquired the minority interest of its partner of more than 15 years, Fairfield Investors, in the 1.4 million-square-foot, Class A office complex Merritt 7 Corporate Park, located at the intersection of Merritt Parkway and Route 7 in Norfolk. Additionally, Clarion Partners has formed a strategic venture with Marcus Partners to assume property management and leasing services.
RICHARDSON — Dallas-based Pillar Commercial, a full-service real estate firm that specializes in repositioning underperforming investment properties, has acquired the former Nortel campus at 2201-2221 Lakeside Blvd. in Richardson's Telecom corridor. The property, built in 1991 as the U.S. headquarters for Nortel Networks, was acquired from a group of creditors that had taken over the facility as part of Nortel's bankruptcy proceedings. Final approval of the Pillar transaction was granted by the bankruptcy court on May 10, 2011, and closing is scheduled for June 3, 2011. The property creditors were represented by the CB Richard Ellis team of Gary Carr, Russell Ingrum, Eric Mackey, Jack Fraker and Josh McArtor. Brian Carlton of HFF secured transaction financing through Viewpoint Bank.
PHOENIX — NAI Horizon has completed a 55,089-square-foot office lease at Foothills Corporate Center I for CyraCom International. This brings the Class B center to full occupancy. CyraCom’s seven-year lease will begin on June 1. The company operates language interpretation call centers for the healthcare field. Jeff Adams, senior vice president at NAI Horizon, represented CyraCom. Cushman & Wakefield’s Dave Seeger, Karsten Peterson and Mark Gustin represented the landlord.
DORAL, FLA. — Miami-based Amadeus North America has selected Stiles Construction for its $5 million, 105,000-square-foot build-out for its new headquarters, located at 3470 Northwest 82nd Ave. in Doral. Stiles will build-out the majority of the corporate space, which will be geared toward functionality and hurricane storm protection.
LAKE MARY, FLA. — CRM Florida Properties has sold the 48,662-square-foot office building, located at 1097 Sand Pond Rd. in Lake Mary, to Meritas for $3 million. Greg Morrison, Damien Madsen and Lisa Bailey of Orlando, Fla.-based Morrison Commercial Real Estate represented the seller. Miguel de Arcos of Sperry Van Ness' Lake Mary office represented the buyer, who plans to convert the building into a dormitory for Lake Mary Preparatory School.
WOODLAWN, MD. — Lockheed Martin Corp. has renewed its 41,580-square-foot lease of office space in the Michael Building, located at 1506 Woodlawn Dr. in Woodlawn. Richard Blue, Jr., Paul Obrecht and Krager Sanders of Timonium, Md.-based Blue & Obrecht Realty represented the landlord, Colony Realty Partners, and Stuart Rienhoff of Jones Lang LaSalle's Baltimore office represented the tenant.
KANSAS CITY, MO. — Overland Park, Kan.-based Haith & Co. has brokered the sale of an 84,273-square-foot office building located at 7501 NW Tiffany Springs Pkwy. in Kansas City, less than three miles from Kansas City International Airport. The buyer was KC Residence LLC and the seller was Charford Inc. Zac Haith of Haith & Co. represented the seller and was tapped to lease the property by the buyer. The acquisition price was not released but the property traded for 25 percent of new construction costs.
BOSTON — Boston-based Synergy Investment & Development has sold the 50,673-square-foot Church Green Building, located at 101 Summer St. in Boston, to a Synergy/Independencia joint venture for $11.5 million. Bill Crean, Kevin Kennedy and Andrea Matteson of CB Richard Ellis' Boston office arranged the repositioning.
HOUSTON — HFF has closed the sale of and arranged financing for 4600 Highway 6 North, a three-story, 53,037-square-foot office building in northwest Houston. HFF marketed the property on behalf of the seller, the Brookfield Real Estate Opportunity Fund, a division of Brookfield Asset Management. Rockwell Management Corp. represented the buyer. Renovated in 2007, the complex is 82 percent leased to tenants including JPMorgan Chase and the Attorney General's office. HFF arranged the acquisition financing through ViewPoint Bank.