FORT LAUDERDALE, FLA. — Fort Lauderdale-based Miller Construction Co. has completed a 71,600-square-foot headquarters building for WPLG-TV, an ABC affiliate known locally as Channel 10. The facility is located on Hallandale Beach Boulevard in Fort Lauderdale. The property includes two studios, a satellite tower and administrative and data storage areas. The station can now broadcast from its studio and the field in digital high definition.
NEW YORK CITY — W&H Properties has recently completed the repositioning of 60 East 42nd Street to One Grand Central Place. The building not only changed names, but underwent an $85 million upgrade program. The renovation included new windows, renovated elevators, renovated air-conditioned public corridors and restrooms, and upgraded building-wide systems. The building also features a visitor center, a tenant conference center, a messenger center and a law library. The 55-story tower includes tenants such as ABS and Gibbs & Soell. The facility offers direct in-building access to Grand Central Terminal, as well as to the 4, 5, 6, 7 and Times Square shuttle subway lines. One Grand Central Place is owned by a partnership led by Peter L. Malkin and Anthony E. Malkin. Available space at One Grand Central Place ranges from partial floors of 1,200 to 8,000 square feet to full floors of 9,500 to 47,589 square feet. Newmark Knight Frank is the exclusive managing and leasing agent for the property.
LAGUNA BEACH, CALIF. — Chris Chinnici and Roman Ciuni of NAI Capital’s Newport Beach, Calif., office has completed the sale of an office building in Laguna Beach. Laguna Broadway acquired the 18,000-square-foot property for an undisclosed price. The seller was Laguna Beach Playhouse.
IRVINE, CALIF. — Los Angeles-based Maguire Properties has completed the disposition of 3161 Michelson Drive, a six-story office property located within the Park Place campus in Irvine. An affiliate of EMMES Group of Companies acquired the 150,000-square-foot property for approximately $160 million. The disposition allowed Maguire to eliminate the project-level debt that was slated to mature in September; eliminate a New Century master lease obligation with potential exposure of up to $16 million; eliminate a $24 million principal loan guaranty; eliminate a master lease parking obligation with a potential exposure of up to approximately $50 million; release a 1,380-space parking structure from encumbrance of the existing mortgage; and increase cash flow by eliminating the project’s negative cash flow.
HUNT VALLEY, MD. — Atradius has leased 21,000 square feet of office space from Merritt Properties at 230 Schilling Circle in Hunt Valley. The property, Schilling Green, is a three-story, Class A building that features new HVAC systems and a green roof. Whit Levering, Pat Franklin and Lou Boeri represented the landlord in house, and Tim Jackson of Cushman & Wakefield’s Baltimore office represented Atradius.
OVERLAND PARK, KAN. — Mary Riley Cheek and Michael Mayer of Colliers Turley Martin Tucker have brokered the sale of the former Brooke Investments office building at 8500 College Boulevard in Overland Park for $2.4 million. The brokers negotiated the disposition on behalf of Albert A. Riederer, the court-appointed trustee for the bankruptcy estate of Brooke Investments. The 14,100-square-foot building was acquired by 8500 College LLC dba Sunway Hotel Group, which was represented by Jim Gates of Kessinger/Hunter. The one-story property was completely renovated in 2006; Sunway Hotel Group plans to establish offices in a portion of the building and lease the remaining space.
NEW YORK CITY — New York City-based Massey Knakal Realty Services has brokered three transactions in Brooklyn. The first property is a two-story office building located at 2632 East 14th St. in the borough’s Sheepshead Bay district. The 7,250-square-foot building was purchased by Accord Business Administration for $1.77 million. The buyer plans to relocate its full-service healthcare management facility to the property. In the second transaction, a local user purchased a two-building industrial property, located at 3379-3381 Shore Parkway, for $1.67 million. The property contains two factory buildings totaling 7,144 square feet. The final transaction involved the sale of a three-story, vacant residential building located at 21 Greenpoint Ave. in the borough’s Greenpoint neighborhood. The 3,500-square-foot property contains two floor-through apartments, a garage and a third-floor unit in need of a gut renovation. The building, which traded for $1.32 million, was vacant at the time of the sale. The first two transactions were handled exclusively by Massey Knakal’s Brian Hanson. Mark Lively, also of Massy Knakal, handled the third transaction. The parties involved were not disclosed.
PURCHASE, N.Y. — Westchester Medical Group (WMG) has signed a lease for 31,662 square feet of office space at 2700 Westchester Ave., located in Purchase. The company plans to move its headquarters into the new space, representing an expansion from its previous location. The move also allows WMG to be closer to its Westchester County offices, located in White Plains, Rye, Purchase, Scarsdale and Yonkers, as well as its two urgent care centers. Representing WMG in lease negotiations was Frank Tomasulo of the Westchester/Fairfield office of CB Richard Ellis. Terms of the lease were not disclosed.
BOCA RATON, FLA. — Nokia Siemens Networks US has re-leased 71,812 square feet from Mainstreet Capital Partners and The Praedium Group in the firms’ office building at 900 Broken Sound Parkway in Boca Raton. The 120,700-square-foot building is located in the Arvida Park of Commerce, and Nokia has been a tenant in the property since the 1980s. Keith O’Donnell and Jay Whelchel of Coral Gables, Fla.-based Flagler Real Estate Services represented the landlords, and Chris Constant of Cushman & Wakefield’s Fort Lauderdale, Fla., office represented Nokia.
OVERLAND PARK, KAN. — Sunway Hotel Group has purchased a single-story, 14,140-square-foot office building, located in Overland Park, for $2.4 million. The property is situated at 8500 College Blvd. and has been renovated within the past 2 years. The buyer plans to occupy half of the building and lease the remaining half. James Gates of Kessinger/Hunter & Co. represented the buyer. The seller, Brooke Insurance, was represented by Mary Riley-Cheek and Michael Mayer of Colliers Turley Martin Tucker. The building traded at a price of approximately $170 per square foot.
