HOUSTON — TGS-NOPEC Geophysical Co. has signed a lease renewal and expansion totaling 67,691 square feet with TPG/Cal/STRS in 2500 CityWest, which is now 92 percent leased. The space is located at 2500 CityWest Blvd. in Houston. Griff Bandy and Jon Silberman of NAI Houston represented the tenant. Colvill Office Properties' Chip Colvill, Win Haggard, Jr., and Michael Anderson represented the landlord.
AURORA, COLO. — Unique Properties LLC has brokered the $1.9 million sale of the six-building, Class B Iliff Office Park located at 2323 S. Troy Street in southeast Aurora. The two-story, multi-tenant complex, which consists of 71,902 rentable square feet, underwent more than $600,000 worth of renovations in 2004-2005 and previously sold for $5 million in 2007. Unique Properties, LLC – TCN Worldwide’s Marc Lippitt and Scott Shwayder handled the bank-owned property transaction.
PLAINVIEW, N.Y. — E.W. Howell has been selected to construct three laboratory office buildings at Brookhaven National Laboratory in Plainview. The buildings will total 124,000 square feet and will contain wet and dry lab space, fabrication and assembly shops, and tech spaces. Initial occupancy is planned for 2012, with construction to be completed in 2013. The project will be seeking LEED certification.
OCOEE, FLA. — A.D. Owens Construction Corp. has broken ground on a $2.25 million headquarters building for Transaction Data Systems in Ocoee. The property will be located on a 2-acre site in the Ocoee Commons business park. Farmer Architecture designed the project, which will be complete in 13 months.
DES PLAINES, ILL. — The Greek American Restaurant Association has purchased an 18,856-square-foot office building. Located at 733 Lee St. in Des Plaines, the property sold for $625,000. The property was built in 1957 for the First National Bank of Des Plaines. Richard Kehoe and Robert Wall of Inland Real Estate Brokerage represented the purchaser and undisclosed seller in the transaction. Barry Collins and William Vedral of Tuttle, Vedral & Collins provided legal counsel for the seller; Spiro Zarkos of Kaplan, Papadakis & Gournis provided legal counsel for the buyer in the transaction.
TROY, N.Y., AND NEW BRITAIN, CONN. — NorthMarq Capital has arranged $4.9 million in first-mortgage financing for the Frear and Atrium Building, a 166,807-square-foot office building located in Troy. The loan carries a 5-year term, a 25-year amortization schedule and was provided by a federal credit union. Scott Devinney of NorthMarq's Upstate New York office arranged the loan on behalf of the borrower. In addition, NorthMarq arranged a $2 million second mortgage for Pebblebrook Apartments, a 486-unit multifamily community located at 46 Brittany Farms Rd. in New Britain. The loan carries a 8.75-year term with a 1-year fixed-to-float term and a 30-year amortization schedule. The borrower was Pebblebrook Apartments LLC and the lender was Freddie Mac. Robert Ranieri of NorthMarq's Capital Services Group East division arranged the loan.
DALLAS — REIT Dividend Capital Total Realty Trust has borrowed $17.5 million for the 14-story Park Place on Turtle Creek office building. The 177,169-square-foot property, which was built in 1986, is located at 2911 Turtle Creek Blvd. in Dallas. The 3-year loan carries a 3.2 percent interest rate. CB Richard Ellis Capital Markets' Eric Tupler, Josh Simon and Greg Greene arranged the financing.
CHESTER, N.J. — NAI James E. Hanson has brokered the sale of Colonial Court, a four-building, 21,559-square-foot office park located at 407-425 Main St. in Chester. NAI's John Schilp represented the seller, Skylands Community Bank, and the buyer, DeSapio Properties. As part of the transaction, Skylands is leasing the 13,500-square-foot building located at 425 Main St. The acquisition price was not disclosed.
NORTH BETHESDA, MD. — Turner Construction Co. is planning to break ground on a 649,000-square-foot office building in North Bethesda's 32-acre North Bethesda Center mixed-use project. Upon completion in July 2012, the 14-story property will house 1,300 federal government employees. The $69 million project was designed to Silver LEED standards.
SOMERSET, N.J. — Newmark Knight Frank has arranged the sale of Somerset Grove Corporate Center, a two-building, 430,000-square-foot office complex located in Somerset. The five-story complex is situated on 34 acres. It contains a two-story center atrium, a full-service cafeteria and a fitness center. AT&T was the previous tenant but has since vacated the property. A team of Newmark Knight Frank brokers led by Richard Madison and Matthew Schnurr sold the property as receiver on behalf of the lender, LNR New Jersey Partners. SHO International Corp. was the buyer and will be occupying approximately half of the property.