CHICAGO — Canada-based Sun Life Assurance Co. has acquired 29 North Wacker Drive in Chicago. The 10-story, 129,262-square-foot Class A office property sold for an undisclosed price. Designed and built in 1961 by A. Epstein & Sons, the property was renovated in 2000 by Skidmore Owings & Merrill. The building features 10,000 square feet of retail space, which is occupied by McDonald’s, The UPS Store and Taco Fresco. Current office tenants include Baker Miller, James Hardie Building and Fletcher & Sippel. NAI Hiffman assisted Sun Life in the acquisition, and NAI Hiffman has been retained to manage the building.
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SUNNYVALE, CALIF. — In a joint venture with Harbert United States Real Estate Fund IV LP, Trumark Commercial has acquired a 130,000-square-foot office building located at 645 Almanor Ave. in the Perry Park area of Sunnyvale. Built in 1972, the two-story property has been vacant for several years; a $6 million to $7 million renovation of the property is scheduled to begin in 3 months with completion slated for year’s end. The all-cash transaction was brokered by Cornish & Carey Commercial’s Christine Sahadi-Slonek and Jeff Ramirez.
SOUTHFIELD, MICH. — Edison Oakland Public School Academy has acquired a 78,529-square-foot office space in Southfield. Schoolhouse Finance sold the property, which is located at 23777 Southfield Road, for an undisclosed price. The property will be used as a kindergarten through 12th grade charter school. Steve Eisenshtadt and Bob Moon of Friedman Real Estate Group represented the seller in the transaction.
NEW YORK CITY — New York Liquidation Bureau (NYLB) has signed a new lease for 116,540 square feet of office space in the Financial District of Downtown Manhattan. The tenant will occupy floors 15 through 17 and part of the 18th floor of 110 William Street, a 32-story, 900,000-foot office building. Peter Hennessey and Scott Cahaly of Jones Lang LaSalle represented the tenant in lease negotiations. Todd Korren of Swig Equities represented the undisclosed landlord. The lease brings the building's occupancy to 98 percent.
HOUSTON — Whitney National Bank has sold a 15,560-square-foot office building to Adrian Hernandez & Associates for an undisclosed amount. The property is located at 9543 Bissonnet St. in Houston. John S. Wall and Will Moss of The Situs Companies represented the seller.
ATLANTA — GE Energy has signed a 106,000-square-foot lease with Eola Capital for space in the nine-story Parkwood Point office building. The property is located at 2018 Powers Ferry Road in Atlanta and is now 89 percent occupied. GE will move its Digital Energy division into the space in July and will eventually employ more than 400 workers at the location. CB Richard Ellis' John Shlesinger and Brent Woodruff represented GE. Bob Stoner represented Eola Capital internally.
NEW YORK CITY — Meridian Capital Group has secured a $31 million loan for the refinancing of a portfolio for retail and office properties that are located in the New York City boroughs of Manhattan and Queens. Cary Pollack of Meridian originated the loan, which carries a 6 percent fixed interest rate, a 5-year term and a 30-year amortization schedule. The borrower was Pi Capital Partners and the lender was a local savings bank.
SAN ANTONIO — A partnership between Urdang Value-Added Fund and Griffin Partners has sold two office buildings totaling 325,000 square feet to Segundo Navarro Office for an undisclosed price. The 194,399-square-foot Union Square I and the 131,186-square-foot Union Square II are located near the airport in San Antonio. The buildings have a combined occupancy of close to 95 percent. CB Richard Ellis' Todd Mills represented the sellers.
PLANTATION, FLA. — The Chrysalis Center has purchased the two-story Bank of America office building from BB Plantation for $2.7 million in a 1031 exchange. The property is located at 3800 W. Broward Blvd. in Plantation. Chrysalis will occupy the second floor, and Bank of America will continue to operate from the first floor. Paul White, Isabel Fine and Miguel Salvat of Keller Williams Commercial represented the buyer. Southeast Properties' Laurie David-Roe represented the seller.
WASHINGTON, D.C. — Skanska USA will break ground this month on the partially completed, Class A office building at 1015 Half St. in Washington. Completion is expected in December. Washington Design Group served as architect on the LEED-Silver project, which is being developed by Douglas Wilson Cos. and is being built to the General Services Administration's construction standards.