WAUKESHA, WIS. — Tybecca LLC has acquired 17,803 square feet of space in Waukesha. The property is located at 1230 and 1260 S. West Ave. Brian Parrish of The Dickman Company represented the buyer; Adam Matson of NAI MLG Commercial represented the seller, the Estate of Duane E. Warren, in the transaction. Terms of the sale were not released.
BOSTON — Bain Capital has signed a 15-year lease for 208,000 square feet of space at Boston's iconic Hancock Tower. The tenant will occupy seven contiguous floors of the 62-story tower and has the option to expand its presence up to 270,000 square feet before taking occupancy, which is expected in fall 2011. Cushman & Wakefield's Gil Dailey, Dave Martel and Rob Griffin represented the tenant in lease negotiations. Bill Anderson, also of Cushman & Wakefield, represented the landlord, a joint venture between Normandy Real Estate Partners and Five Mile Capital Partners. This lease brings occupancy at the 1.8 million-square-foot tower to 95 percent.
HOUSTON — Marcus & Millichap has represented two private parties in the sale of the 7,232-square-foot REO: Jones Road Office Building for an undisclosed amount. The property, which was built in 1984, is located at 11850 Jones Road in Houston. The firm's Justin Miller and Nathan Pealer brokered the sale.
BURBANK, CALIF. — Marcus & Millichap has brokered the $6.1 million sale of the Big Boss Creative office property located at 135 West Magnolia Blvd. in Burbank. Built in 1959 and renovated in 2004, the 23,485-square-foot building is 100 percent leased. Marcus & Millichap’s Mike Malick represented the buyer and seller, both limited liability companies, in the transaction.
FREDERICK, MD. — Natelli Communities will break ground Monday on a 115,000-square-foot headquarters property for Banner Life Insurance Co. The development, which will comprise two two-story buildings, will be located at 3275 Bennett Creek Ave. in the Urbana Corporate Center in Frederick. Delivery in expected during summer 2011.
MILWAUKEE — Salt Lake City-based SilverLeaf Financial has purchased a $17.4 million face value loan. The note is collateralized by Tannery Office Park, a 317,051-square-foot retail/office complex in Milwaukee. Constructed from 1890 to 1913, the property is comprised of six buildings on 10.34 acres. At the time of acquisition, the property was occupied by 20 tenants.
PHOENIX — Cassidy Turley BRE Commercial has completed the $4.23 million sale of the 83,000-square-foot Gilbert Business Center located at 963, 971 and 979 N. Gilbert Road in Phoenix. Gilbert Business Park Properties LLC, dba Affinitas Corp., purchased the Class A office complex with plans to occupy 21,000 square feet. Cassidy Turley’s Gregg Sherman represented the Omaha, Neb.-based buyer in the transaction, and the brokerage firm’s Eric Wichterman, Rick Danis and Mike Coover represented the seller, Heritage Bank N.A.
NORTHBROOK, ILL. — Meridian Design Build has completed a 12,500-square-foot corporate office headquarters renovation for Highland Baking Co. in Northbrook. The project included private offices, a sales area, updated restrooms, conference rooms and an employee lunch area. Additionally, the project included the installation of an ultra-high efficiency boiler, new high-efficiency rooftop units and an updated plumbing system. A+M Architects provided architectural services for the project.
GARDEN CITY, N.Y. — Metropolitan Realty Associates (MRA) has acquire a two-story, 335,000-square-foot Long Island office building in an off-market transaction for $15 million. The property is located on more than 17 acres at 711 Stewart Ave. in Garden City. It was 39 percent occupied at the time of closing by a tenant roster that includes Sanford Brown Institute, the New York State Department of Education, Nassau Radiology, a vocational school and several medical office tenants. MRA, which made the purchase with its equity partner, Angelo Gordon Co., plans to make significant capital improvements to the property. MRA completed the deal through a dual transaction with former owner AVR Realty and Guardian Life Insurance, which holds the property's mortgage. Richard Karson and Marty Lomazow of CB Richard Ellis negotiated the transaction.
SEWELL, N.J. — Jackson Cross Partners (JCP) has completed the sale of a 54,704-square-foot flex building located at 11 Enterprise Court in Sewell. The seller was Hollywood Tans Brand and the buyer was New Age Fastening Systems. JCP's Jim Young, Harry McKenna and Lou Battagliese negotiated the deal.