LIVERMORE, CALIF. — Topcon Positioning Systems (TPS) has signed a long-term lease for 30,000 square feet at 7901 National Drive in Livermore. This will allow TPS to expand its headquarters. The two-story office building was completed in 2007. TPS was represented by Mark Triska and Ned Wood of Colliers International. The building’s landlord, Bear Properties, LLC, was represented by Adam Ebner and Mark Kol of CBRE.
WASHINGTON, D.C. — New York City-based JOSS Realty Partners has sold the 88,074-square-foot 2131 K. Street N.W., an office building located in Washington, D.C.'s CBD, for $28.8 million. The 8-story building is 90 percent leased to tenants including George Washington University Hospital, Cardiology Associates, Atlantic Services Group, The George Washington University's National Health Policy Forum and Gambro Healthcare (Davita). Transwestern represented the seller in the transaction.
ATLANTA — Atlanta Property Group (APG) has purchased the 183,619-square-foot 1200 Ashwood, an office building located 1 mile north of the Ashford-Dunwoody/Interstate 285 Interchange in Atlanta, from Miami-based LNR for approximately $9.5 million. LNR serviced the loan made to the previous owner, Griffin Capital. APG will spend approximately $1 million to renovate the building's common areas and improve the property's aesthetic appeal. Will Yowell of CBRE's Atlanta office represented the seller in the transaction.
CHICAGO — Johnson Publishing Co., a Chicago-based media firm, has executed a long-term lease agreement for 40,000 square feet at 200 S. Michigan Ave. in Chicago. Johnson will occupy the top three floors of the 357,777-square-foot office building. Jeff Bernstein, Ben Azulay, Andrew DeMoss of Bradford Allen Realty Services represented the landlord, BPG Properties, in the transaction. David Herbert and Michael D'Angelo of UGL Services represented Johnson Publishing. Through its media division, the company publishes Ebony and Jet magazines, among others.
ATLANTA — A joint venture between Carter Validus Mission Critical REIT (CV Reit) and three institutional investors has purchased the 338,000-square-foot Peachtree Data Center, located in downtown Atlanta, for $94.75 million. CV REIT will control and run the operations of the property, which is currently fully leased to six tenants. The building underwent a $230 million renovation in 2010.
CHARLOTTE, N.C. — SCOR Global Life America (formerly Transamerica Reinsurance Co.) has signed a 140,000-square-foot lease at the Bank of America Plaza, located at 101 S. Tryon St. in Charlotte. The building is 97 percent leased to tenants including Alston + Bird and Bank of America. Keith Bell of Mohr Partners’ Charlotte office, along with Merrill Roth of Newmark Knight Frank’s New York City office, represented the tenant in the lease transaction. Peter Conway and Rhea Greene of Trinity Partners’ Charlotte office represented Dallas-based Behringer Harvard, the landlord.
CONROE — Dyer Holdings has purchased a 15-acre land tract in Conroe Industrial Park, located at 3105 Pollok Dr. in Conroe, and construction has commenced on a 65,000-square-foot office/warehouse facility at the site. John Ferruzzo, Chris Kugle and Dustin Gillioz of NAI Houston represented the buyer on the land purchase from the City of Conroe. Ferruzzo, Kugle and Gillioz also represented the buyer in the construction contract with Seattle-based KDW, the developer.
ADDISON — Marcus & Millichap has brokered the sale of the approximately 50,000-square-foot Midway Office Park, an office property located at 14665 Midway Rd. in Addison. Ron Hebert of Marcus & Millichap's Dallas office represented the seller, a financial institution, in the transaction. Midway Office Park is the corporate headquarters for Mattress Giant.
DENVER — Hamilton-Titan Partners has received $6 million in mezzanine debt to recapitalize Park Place Office Plaza, a 171,000-square-foot, two-building office complex in Denver. The debt was provided by Lowe Enterprises Investors. Lowe Structured Investment Fund had previously provided $13 million in mezzanine debt to Hamilton-Titan Partners for a three-building portfolio of office properties in the Denver area.
CHICAGO — Shorenstein Properties LLC has closed on the $228 million purchase of 350 West Mart Center, a 1.2 million-square-foot office building in Chicago. The seller was Vorando Realty Trust, which received a net gain of about $54 million on the sale. The property is located at 350 N. Orleans St. and is a former apparel center, which Vornado converted into a modern office building. Tenants include the Chicago Sun-Times and the Illinois Institute of Art.