NEW YORK CITY — Time Equities has sold an 11,294-square-foot office condo in New York City to KGK Group for $5.1 million. The international diamond trading company will occupy the entire sixth floor of 70 West 36th Street as its New York headquarters. Harold and Diane Siegel of Norman Bobrow & Co. represented the buyer in the deal.
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LAS VEGAS — Harsch Investment Properties has gotten a 20-year lease commitment valued at $21 million from the Department of Veterans Affairs Consolidated Patient Account Center, located within the Paradise Airport Center at 1085 Palms Airport Drive in Las Vegas. CPAC will bring more than 400 jobs to the area once a $7.5 million redevelopment of the two-story mezzanine office call-center operation is completed for the VA department in summer 2011. Upon completion by Las Vegas-based TWC Construction, the building will house the VA in 51,000 square feet.
NEW YORK CITY — Madison International Realty has acquired a larger stake in New York City's Chrysler East Building for $10 million. The firm now controls 48.9 percent of the partnership owning the property, up from 38.5 percent. Madison now has $55 million invested in the 745,410-square-foot office building, which is located at 666 Third Ave. in Manhattan.
GLENDALE, CALIF. — Jones Lang LaSalle has represented LegalZoom in a 10-year, 48,640-square-foot lease at Glendale City Center, a Class-A, 19-story office building located at 101 N. Brand Blvd. in Glendale. Jones Lang LaSalle’s Mike McRoskey, Gary Horwitz, Tony Morales and Frank Scott represented the online legal document and filing service company in the transaction, and CB Richard Ellis’s Patrick Church and Anneke Greco represented the landlord, Legacy Partners.
PHOENIX — Cassidy Turley BRE Commercial has completed the $1.6 million acquisition of a 17,524-square-foot office building located at 222 N. 44th Street in Phoenix. Cassidy Turley BRE Commercial’s Chris Walton and Justin Himelstein represented the buyer, North 44th Street Phoenix LLC, a company formed by San Diego-based DPR Construction. CB Richard Ellis’ Rick Murphy and Max Bippus represented the Pleasanton, Calif.-based seller, Bajarang Investments, in the transaction. DPR will occupy the purchased building.
OMAHA, NEB. — Q10|Daisley Ruff Financial has arranged $4.72 million in financing for a three-story, 59,482-square-foot office building in Omaha. E.T. Daisley of Q10|Daisley Ruff secured the financing through a correspondent lender.
PITTSBURGH — CB Richard Ellis (CBRE) Capital Markets has arranged $143 million in long-term, fixed-rate financing for PPG Place, a 1.5 million-square-foot, Class A office complex located in downtown Pittsburgh. The six-building complex is situated adjacent to the historic Market Square. The buildings surround a 1-acre plaza and feature street-level retail and restaurant space. John Clifford and William Howe of CBRE's Chicago office joined with Jeffrey Ackerman and Jack Norris of the firm's Pittsburgh office to represent the borrower, Market Associates LP. The lender's name was not released.
BERKELEY HEIGHTS, N.J. — Advanced Health Media has entered into a long-term lease for a 123,082-square-foot office building located in Berkeley Heights. The Class A building is located at 420 Mountain Ave. AHM will consolidate two of its nearby offices into the new location beginning in mid-2011. Bryn Cinque and Jim Bailey represented AHM in lease negotiations. Bill Brown of Cushman & Wakefield represented the landlord, Vision Equities.
DALLAS — One McKinney Plaza, a 15-story, 256,543-square-foot office building at 3232 McKinney Ave. in uptown Dallas, has earned its LEED for Existing Buildings (LEED-EB) certification from the U.S. Green Building Council. The owner, Gaedeke Group, has spent 1 year and $5 million in renovating the office building. The renovations included the replacement of 42 toilets with a high-efficiency design, decreasing the gallons per flush by 40 percent. The LEED-EB Operations & Maintenance rating system focuses on a building's physical systems and how it's occupied and operated by its managers.
CORAL SPRINGS, FLA. — Marcus & Millichap has brokered the sale of the Towers of Coral Springs, two six- and four-story glass office towers in Coral Springs. The 75,344-square-foot property, which was in foreclosure, sold for $9.7 million. Located at 2855 N. University Dr., the property was 75 percent occupied by national tenants, including Morgan Stanley & First United Bank, at the time of closing. Andy Neiswenter of Marcus & Milichap represented the undisclosed buyer; Marc Strauss and Al Palacios of Marcus & Millichap represented the seller, a partnership and the original developer, in the transaction.