SUNNYVALE, CALIF. — Cassidy Turley CPS has brokered the more than $10.83 million sale of a 40,200-square-foot R&D building located at 1255 East Arques Ave. in Sunnyvale. The brokerage firm’s Alan Guterman, Steve Horton and Kelly Yoder represented the seller, Princeton Plaza, of the single-story, freestanding building situated close to Highway 101, Lawrence and Central expressways. The buyer was the tenant Fujitsu Management Services of America, the sale reflecting a buyout of Fujitsu’s existing lease.
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WEST BEND, WIS. — Time Investment Co. has acquired 100 North Sixth Avenue in West Bend. The company plans to relocate its headquarters to the 15,042-square-foot office property. Time Investment is a direct sales financing company and plans to relocate more than 40 employees to the new facility. Blue Cross Blue Shield of Wisconsin sold the property for an undisclosed price. Mike Steer of Coldwell Banker represented the buyer; Kurt Klapperich of CB Richard Ellis' Milwaukee office represented the seller in the transaction.
CULVER CITY, CALIF. — Jones Lang LaSalle has brokered Palisades Equity Partners’ $8.35 million acquisition of a 51,288-square-foot, multi-tenant office building located at 6133 Bristol Parkway in Culver City. Situated west of Los Angeles, the three-story building was 90 percent leased at the time of sale. Jones Lang LaSalle’s Chris Strickfaden and Steve Solomon negotiated the transaction on behalf of the buyer and seller, Professional Real Estate Services.
ARLINGTON, VA. — US Government Building Fund, a fund sponsored by USAA Real Estate Co., has acquired One and Two Potomac Yard, a two-building office complex located in the Crystal City submarket of Arlington County, Va. Potomac Yard Holding Co., which is owned by JP Morgan Strategic Properties Fund, sold the 621,774-square-foot property for an undisclosed price. US Government Building Fund is focusing on assembling a geographically diverse portfolio of properties that provides attractive, risk-adjusted returns generated by the acquisition and operation of buildings leased to federal and state governments.
HOUSTON — 3900 Essex, a 235,620-square-foot Class A office building in the Greenway Plaza submarket of Houston, has sold for an undisclosed amount. Beacon Investment purchased the property from 3900 Essex LP, an affiliate of Fuller Realty Partners, and Aquinas Essex, an affiliate of Aquinas Cos. Dan Miller and Martin Hogan of Holliday Fenoglio Fowler (HFF) represented the sellers, and Susan Hill of HFF arranged the fixed-rate acquisition financing for Beacon Investment through Goldman Sachs Commercial Mortgage Capital LP. Tenants at 3900 Essex include Thomson Reuters, Bank of Houston, Open Solutions, Aquinas Cos. and Mohle Adams.
DALLAS — Crescent Real Estate Holdings has completed 14 new or renewal leases with financial companies at the Crescent Office Towers in uptown Dallas. Among the renewal leases for a total of 105,299 square feet were Morgan Stanley Smith Barney at 34,515 square feet, Maverick Capital at 30,575 square feet and Goldman Sachs at 21,611 square feet. New leases for a combined 40,602 square feet included Citicorp NA at 11,804 square feet and Jeffries & Co. at 7,900 square feet.
BROOKFIELD, WIS. — Cities & Villages Mutual Insurance Co. has purchased a 24,696-square-foot office property in Brookfield. Grede LLC sold the property, which is located at 9898 W. Bluemound Rd., for an undisclosed price. Dan Jessup and John Mazza of Grubb & Ellis|Apex Commercial brokered the transaction.
WOODCLIFF LAKE, N.J. — CB Richard Ellis (CBRE) Realty Trust has acquired a 208,911-square-foot, Class A office building in Woodcliff Lake for an undisclosed amount. The three-story building, which is located at 100 Tice Blvd., is leased to Eisai, Inc., which is occupying the entire building through 2021 as its headquarters. The property was constructed in 2007 and features a two-story atrium lobby with marble floors and mahogany wood panels. The acquisitions team from CBRE Investors assisted in the transaction. The seller's name was not released.
NEW YORK CITY — Global law firm Freshfields Bruckhaus Deringer (FBD) has signed a long-term lease for 108,000 square feet at 601 Lexington Ave. in Midtown Manhattan. The law firm will relocate to the 59-story tower in mid-2011 from its current offices at 520 Madison Ave. The new lease represents a 38,000-square-foot expansion. The Studley team of Mitchell Steir, Michael Colacino, Matthew Barlow, David Goldstein and Colm Ralph represented FBD in lease negotiations. Frank Doyle and David Kleiner of Jones Lang LaSalle represented the landlord, Boston Properties.
IRVING — Regent Place, a 41,839-square-foot office property located at 1304 W. Walnut Hill Ln. in Irving, has changed hands for an undisclosed amount. A Coppell, Texas-based limited liability company purchased the property from a Washington, D.C.-based partnership. Craig Lewin, Patrick Giles, Josh Levy and Marty Cohan of Marcus & Millichap represented the seller, and the property was approximately 55 percent occupied at the time of the sale.