PLANO, TEXAS — Adler Realty Investments has signed three leases at Tennyson Office Park, located in Plano. CreditAnswers has signed a lease for 31,000 square feet; Real Estate Disposition Corp. has signed a lease for 14,000 square feet; and Infosys has renewed and expanded its lease by 10,000 square feet, bringing its total to 41,000 square feet leased. Rick Rensi and Clay Gilbert of CB Richard Ellis (CBRE) represented Adler in lease negotiations. Baron Aldridge CBRE represented CreditAnswers; Nelson Somerville of Vaughn Commercial Realty Group represented Real Estate Disposition Corp.; and Pat O’Keefe of CBRE represented Infosys. Terms of the leases were not disclosed.
WASHINGTON, D.C. — The Washington office of Gensler Associates will redesign the 1 million-square-foot Washington Square office tower starting later this year. Twenty retail shops also occupy space in the building. The property, located at 1050 Connecticut Ave. in Washington, is owned by Lerner Enterprises and The Tower Companies. Renovations include enhanced access-control systems, a new elevator system and additional bike racks.
NEW YORK CITY — Denham Wolf Real Estate Services has brokered a 10-year, 7,200-square-foot lease at 171 Madison Ave. in Manhattan, New York City, for Lawyers Alliance for New York Inc. (LANY). The company, which provides business and transactional legal services for nonprofit organizations, will use this new space for its general, executive and administrative offices. Paul Wolf and Amy Lawrence of Denham Wolf Real Estate Services represented the tenant in the transaction while Brian Steinwurtzel and Andrew Udis of Newmark Knight Frank represented ownership, a partnership that is part of Newmark Holdings. Details of the lease were undisclosed, but the asking price was $36 per square foot. Built in 1914, the 16-story building features 113,182 square feet.
THE WOODLANDS, TEXAS — Beusa Energy Inc. has leased the top floor of the new 4 Waterway Square office building in The Woodlands. Located at the intersection of Waterway Square Place and Woodloch Forest Drive in The Woodlands Waterway Square District, the Class A building is under construction with completion expected in early September. Beusa will relocate from its current offices in the Parkwood Building at 10077 Grogan’s Mill Rd. to its new 24,592-square-foot space at 4 Waterway Square in December. Boston-based Elkus-Manfredi designed the nine-story, 216,000-square-foot office building, which is being built by Harvey Builders of Houston. Gensler Houston is the architect of record. The Woodlands is a project of The Woodlands Development Company.
CLEVELAND, TENN. — Dayton, Tenn.-based Dillard Construction has broken ground on the first phase of Green Development Group’s 26,000-square-foot Ocoee Commons Professional Office Park, located on Ocoee Crossing in Cleveland. The initial phase includes 13,738 square feet, with the remainder of the space being constructed during phase two. A little more than 2,000 square feet has already been leased.
OMAHA, NEB. — Omaha-based Grubb & Ellis | Pacific Realty has brokered two commercial sales in Omaha totaling $11.4 million. In the first transaction, Jasper Stone Properties III LLC purchased Financial Plaza, an 85,653-square-foot office building located at 9410 W. Dodge Rd., from Financial Plaza II LLC. The building traded for $8.3 million. Scott Heider, Edgar Fleming and Candice Bruns, all of Grubb & Ellis, represented the seller. In the second transaction, Mike and Anna Sortino purchased Crossroads Plaza, a 19,906-square-foot shopping center located at 7610 Dodge St., from Friedman Family LP. The center traded for $3.1 million. Erik Wagner of Grubb & Ellis represented the buyer. Barry Zoob and Kyle Peterson, also of Grubb & Ellis, represented the seller. Grubb & Ellis will also be provided property management services for the center.
GARDEN CITY, N.Y. — Stifel, Nicolaus & Company, Inc., a subsidiary of Stifel Financial Corp. a full-service regional brokerage and investment banking firm, has signed a 10-year, 24,771-square-foot lease at The Treeline Companies’ 1225 Franklin Avenue Plaza in Garden City. Kraig Silver of The Treeline Companies, represented the landlord in-house. Jay Stewart of Grubb & Ellis and Roger Wooster of Sutton & Edwards, Inc. represented the tenant. The five-story, Class A building features 205,000 square feet, as well as amenities such as meeting facilities, executive dining, a fitness center, and on-site owner management. The new lease represents a relocation and expansion for Stifel, Nicolaus & Company, which was previously located at 50 Charles Lindbergh Blvd. in Uniondale, New York. ?
DENVER — HRPT Properties Trust has acquired Seventeenth Street Plaza, a 33-story office tower located at 1225 17th St. in Denver, for an undisclosed price. The 666,653-square-foot is LEED Gold certified and has received ENERGY STAR awards since 2003. At the time of acquisition, the property was 93 percent occupied. Property amenities include an attached parking structure, Ink! Coffee, Heidi’s Brooklyn Deli, a fitness facility with showers and lockers, a bank, 24-hour security and a loading dock with a dedicated freight elevator. Mary Sullivan and Tim Swan of CB Richard Ellis represented the seller, institutional investors advised by J.P. Morgan Asset Management, in the transaction.
ALEXANDRIA, VA. — Jim Kornick, Jerry Burg and Matt Clinebell of NorthMarq Capital have brokered the sale of the Landmark Professional Building to JAG Associates for $10.8 million. The 60,432-square-foot office property is located at 5249 Duke St. in Alexandria. Currently 90 percent occupied, the building will near full capacity when JAG moves into 3,500 square feet later this year.
BEDFORD, MASS. —Tremont Realty Capital has secured a $4.74 million loan for the refinancing of 54 Middlesex Turnpike, a two-story, 42,500-square-foot office building located in Bedford. The 6.7-acre property also contains a newly constructed, 8,000-square-foot daycare center. The borrower funded the construction of the new daycare out of pocket and was looking for a permanent loan to refinance its existing loan on the office building, in order to recoup some of its investment in the new property. The new loan carries a 20-year term, a 5.75 percent interest rate and an approximately 70 percent loan-to-value ratio. The lender was a local bank. The transaction was arranged by David Ross of Tremont’s Boston office.