HENDERSON, NEV. — CB Richard Ellis has brokered Bank of America’s almost $1.4 million sale of approximately 27,584 square feet of office space, located at at 2920 N. Green Valley Pkwy. (Building 5) in Henderson, to S.A.L. Holdings LLC. CBRE’s Charles Moore, Christina Roush and Marlene Fujita represented the seller in the transaction.
WEST PALM BEACH, FLA. — Miller Construction Co., serving as general contractor, has completed the construction of a 30,000-square-foot facility for Republic Services. The company plans to use the office/maintenance facility for its West Palm Beach-based truck fleet. Located on 10 acres at 7329 Seventh Place N. in West Palm Beach, the two-story building features offices, a state-of-the-art maintenance shop and support space with locker rooms and training areas for more than 100 truck drivers. The property is pre-registered to achieve LEED certification. The project's design team included Falkanger Snyder Martineau & Yates, KAMM Engineering and Craven Thompson & Associates.
WARREN, MICH. — Mercurio Management Services has acquired an 8,580-square-foot building, which is located at 24920 Gibson in Warren. The buyer plans to use the property as a headquarters for its concession business. Michael Grammatico of L. Mason Capitani CORFAC International represented the buyer; Joe DePonio and Jason Capitani, also of L. Mason Capitani, represented the undisclosed seller in the transaction.
BEDFORD, MASS. — Acme Packet has relocated its headquarters from Burlington, Mass., to a larger facility in Bedford. Its new headquarters totals 123,000 square feet and is located at 100 Crosby Drive. The new space features a three-story atrium with a LED-lit glass feature as well as a café. Diversified Project Management provided project services for the headquarters. Other project team members included Chapman Construction, Spagnolo Gisness & Associates and Dyer Brown Architects.
WASHINGTON, D.C. — The GW Medical Faculty Associates (MFA) has purchased a nine-story building in Washington, D.C. Located at 2300 M St., the property offers 120,000 square feet of Class A office space. A partnership comprised of the Carlyle Group and AON sold the property for $49.5 million. The building is currently occupied by the German Embassy on a short-term, swing-space lease. When the embassy moves out in 2013 and 2014, the MFA will renovate the property and begin to occupy the 70,000 square feet vacated by the embassy. MFA plans to immediately occupy the building's existing vacant space. David Lipson, Arthur Greenberg, Vernon Knarr and Adam Schindler of Studley represented MFA; John Kevill and James Malloy of Jones Lang LaSalle represented the seller in the transaction.
EDWARDSVILLE AND CASEYVILLE, ILL. — BARBERMurphy Group has negotiated the sales of two properties in Southern Illinois. In the first transaction, Scott Credit Union purchased a 13.77-acre office development site at Illinois Route 143 and Staunton Road in Edwardsville. Florists' Mutual Insurance Co. dba Hortica sold the property for $1.39 million. The buyer plans to use the site for its 51,000-square-foot corporate headquarters building. Collin Fischer and Wayne Barber Jr. of BARBERMurphy represented the buyer. In the second transaction, UMB Bank N.A. sold an industrial property for $870,000 to John Reece LLC. The 27,946-square-foot property is located on 10 acres at 8118 Bunkum Road in Caseyville. Barber, Steve Zuber and Tara Lorenz-Keller of BARBERMurphy represented the seller in the transaction.
CHICAGO — Locally based KTC Properties has partnered with Golub & Co. to acquire 225 Washington Street in downtown Chicago. The 28-story building offers 483,497 square feet of Class A office space. Designed by Skidmore, Owings & Merrill and completed in 1987, the property features architectural bay windows, marble floors and accents, a fitness center, a conference facility and a sundry shop. The property is 85 percent occupied by a variety of tenants, including Allianz and DeVry University. Nick Thomson and Ethan Meers of KTC led the acquisition team for the transaction. Golub will continue to manage and lease the building. Additional terms of the transaction were not released.
PHILADELPHIA — Cedar Shopping Centers has acquired a a Philadelphia office building for $13.37 million. The property, which is located on 15.3 acres at 11501 Roosevelt Blvd., totals 230,000 square feet. It is currently occupied by the Internal Revenue Service. Cedar's acquisition included the assumption of a $13 million first mortgage secured by the property. Cedar already owns the adjacent 23.9-acre property, which contains a 430,000-square-foot office building also leased to the IRS. The agency's lease for both buildings terminates next October, and it is expected to vacate the buildings. Cedar has not released any long-term plans for the properties.
COSTA MESA, CALIF. — The VA Property Group, a division of Lee & Associates, has completed the $9.1 million sale of a five office-building portfolio located at 151 Kalmus Drive in Costa Mesa. Newport Beach, Calif.-based PRES Companies made the all-cash purchase, which totaled 82,911 square feet within Copper Tree Business Park. Lee & Associates’ Brian Garbutt and Allen Basso represented both parties in the transaction.
DEERFIELD, ILL. — CB Richard Ellis Realty Trust has purchased Ten Parkway North, a 99,566-square-foot Class A office property in Deerfield. The three-story property is fully leased to a creditworthy international insurance holding company through January 2020. Ten Parkway North is one of six office buildings that comprise Parkway North Office Park, a more than 1 million-square-foot office park. Amenities for the office park include a fitness center, a daycare facility and walking trails. Ten Parkway North is CBRE Realty Trust's first office building acquisition in the Chicago area. The CBRE Realty Trust team worked with Gary Jaye and his CBRE Investors team to acquire the property. Terms of the acquisition were not released.