PHOENIX — Phoenix-based JDO LLC has acquired a 30,403-square-foot flex/office building located within Southbank Business Park at 3439 E. University Dr. in Phoenix. Colonial Development sold the property for $3.89 million. The property is currently 100 percent leased to General Services Administration. Jim Fijan and Jerry Roberts of CB Richard Ellis’ Phoenix office represented the buyer; Jim Wilson and Mike Beall of Cushman & Wakefield represented the seller in the transaction.
PORTLAND, ORE. — Alan and Donna Mascard have purchased a 5,673-square-foot office property, which is located at 1305 NW 18th Ave. in Portland. 18th & Overton LLC sold the property for $1.15 million. Josh Schweitz and Kevin Joshi of GVA Kidder Mathews represented the buyer; John Gibson of Colliers International represented the seller in the transaction.
WASHINGTON, D.C. — Kaiser Permanente has signed a lease with Louis Dreyfus Property Group and Fisher Brothers for more than 200,000 square feet of space in the 700 Second Street at Station Place office building in Washington. Designed to LEED Silver standards, the building is 60 percent preleased. The 507,273-square-foot 700 Second Street is the third phase of the 1.6-million-square-foot Station Place office complex. Bruce Pascal, Roberta Liss, Andrew Felber, Tim Hutchens, Mark Klug and Bobby Blair of CB Richard Ellis represented the owners. Rita Robison and Andy O’Brien of Jones Lang LaSalle represented Kaiser Permanente.
ATLANTA — The law firm Sutherland Asbill & Brennan has signed a lease renewal with Atlanta-based Jamestown Properties for 240,906 square feet of office space at 999 Peachtree. Both parties have agreed to a lease term that will expire in 2020. Sutherland Asbill & Brennan has been a tenant at 999 Peachtree since 1988. The 28-story property is located at the intersection of Peachtree and 10th streets in Atlanta.
BONITA SPRINGS, FLA. — Solovey Fountains Group has sold a 5,273-square-foot building to 3364 Woods Edge LLC for $1.22 million. The office property is located at 3364 Woods Edge Circle in Bonita Springs. Craig Timmins of Naples, Fla.-based Investment Properties Corp. brokered the sale.
MARLBOROUGH, MASS. — Richards Barry Joyce & Partners (RBJ) has brokered four lease transactions that total 87,700 square feet at Marlborough Technology Park in Marlborough. John Lashar and Paul Leone of RBJ represented the landlord, Normandy Real Estate Partners in the four transactions. Bistream, Inc. will occupy 26,801 square feet of the 82,423-square-foot building, located at 245 First St. Cushman & Wakefield represented Bistream in the transaction. Mentor Graphics signed a lease renewal for 16,376 square feet of the 80,724-square-foot building, located at 300 Nickelson Rd. Mentor was represented by CresaPartners. MetroWest Medical Center signed an 18,872-square-foot lease of the 74,735-square-foot building, located at 100 Nickelson Rd. Cushman & Wakefield represented MetroWest in the transaction. Finally, New Energy Alliance signed a 25,671-square-foot lease at 300 Nickelson Rd. and was represented by CB Richard Ellis. The 100 and 300 Nickelson Rd. properties are now at full occupancy.
SOUTHFIELD, MICH. — Newmark Knight Frank has completed a lease for 13,498 square feet of office space on behalf of Compsat Technology. The property is located at 25330 Telegraph Rd. in Southfield. Mitchell Lipton and Ben Herman of Newmark Knight Frank represented the tenant in lease negotiations. The landlord and the terms of the transaction were not disclosed.
BERNARDSVILLE, N.J. — Denholtz Associates has acquired a 56,000-square-foot, Class A office building at 150 Morristown Rd. in Bernardsville. The building was acquired in a joint venture partnership that included Becker Brothers. Located in the desirable I-287 corridor just outside Morristown in Somerset County, the facility offers units from 800 to 1,500 square feet and recently underwent substantial upgrading by its former owners. The building features a two-story lobby, 24/7 access, executive covered parking and award-winning property management. The building is directly off of Route 202/206 and is in close proximity to Routes 78, 287, public transportation, shopping, restaurants, banking, and hotels.
SADDLE BROOK, N.J. — CB Richard Ellis' (CBRE) Patrick Murphy, Donald Sperling, Greg Barkan and Scott Larson have negotiated three lease transactions at Metropolitan Center in Saddle Brook. Corporate Synergies Group, a global provider of software and consulting solutions to IT infrastructure, signed a 13,545-square-foot lease. The firm relocated its operations from Paramus. The tenant was represented by Curtis Foster from Cushman & Wakefield and John Gillespie from Newport Commercial Real Estate Advisors. Cambrex Corp., a leading supplier of products and services for the life sciences industry, signed a 10-year, 10,486-square-foot lease renewal agreement. Cambrex was represented by Jay Garibaldi, Matt Kirby and Michael Witko of The Garibaldi Group. Children's Place, a national clothing retailer, completed a 31,000-square-foot lease renewal and short-term extension within this Class A property. The tenant was represented by Thomas Consiglio of Resource Realty. Murphy, Sperling, Barkan and Larson of CBRE represented the landlord, CBRE Investors, in all three of these transactions. Situated at Exit 16W off the New Jersey Turnpike at the junction of routes 3 and 120, the 422,000-square-foot Metropolitan Center is conveniently located just 15 minutes from the Lincoln Tunnel. Both Newark Liberty International Airport and Teterboro Airport are within 10 miles, and …
HOUSTON — Sacramento, Calif.-based Panattoni Development Co. is developing a 94,000-square-foot, build-to-suit data center on behalf of CyrusOne. The facility is situated within Beltway 8 Corporate Centre, which is located along the North West Beltway in West Houston. The data center will feature redundant utility power feeds and access to one of Houston’s major telecommunications fiber corridors. Completion is slated for November. John Pruitt, Jessica Ochoa and Kristen Rabel of CB Richard Ellis, along with Justin Bennett of Panattoni, represented Panattoni in lease negotiations for the facility. CyrusOne was represented by Brant Bernet and Peter Tippen of Rackhouse, as well as Anthony Fritsche of Fritsche Anderson. Metzer Construction is serving as general contractor for the project. Acquisition financing is being provided by Sovereign Bank.