RIVERSIDE, CALIF. — The 250,000-square-foot Regency Tower, developed by Silagi Development & Management and constructed by Snyder Langston, has been completed. Located at 3960 Orange St. in downtown Riverside, the 10-story, build-to-suit office building over a three-level underground garage will be occupied by the County of Riverside. Irvine, Calif.-based Langdon Wilson, the project architect, designed Regency Tower for LEED certification.
LINTHICUM, MD. — Northrop Grumman has opened its 156,000-square-foot Innovation Institute office building on West Nursery Road in Linthicum's West*Quest Technology Park. More than 450 employees will work at the five-story building. The property includes a 175-seat conference center, a fitness facility and an Internet café. Manekin Construction built the development to LEED standards.
LAKE WORTH, FLA. — The Health Care District of Palm Beach County has bought a 95,305-square-foot office building in Lake Worth from a Los Angeles-based LLC for $5.79 million. The buyer will occupy the four-story, Class B property, which is located at 2601 10th Ave. North. Washington Mutual formerly based its regional operations from the building, which houses a JP Morgan Chase branch on the first floor. Douglas Mandel of Marcus & Millichap's Fort Lauderdale, Fla., office represented the seller.
RIDGEFIELD PARK, N.J. — Samsung Electronics America has signed a lease for 193,000 square feet of office space at 85 Challenger Road, a 235,000-square-foot, Class A office building located in Ridgefield Park. The company plans to relocate its U.S. headquarters to the building from a nearby location. The Cushman & Wakefield team of Andrew Merin, David Bernhaut, Gary Gabriel, Jose Cruz, Marc Trevisan and David DeMatteis represented the landlord, KABR Real Estate Investment Partners. CB Richard Ellis' John Oh and Paul March represented Samsung. The same Cushman & Wakefield team also orchestrated KABR's purchase of the property in June. The then-vacant property was sold by AIG, which had foreclosed on it. The property is currently undergoing capital improvements, including the addition of a full-service cafeteria, an update to the common areas and elevators, and a lobby remodeling.
IRVING, TEXAS — The Richland Companies has acquired Gateway South, a 78,195-square-foot office/flex building located in the Las Colinas submarket of Irving. Situated on approximately 5 acres at the intersection of Gateway and Commerce drives, the building is in close proximity to Gateway II, another Richland property. It was fully occupied at the time of closing by a tenant mix that includes C3 Primedia Solutions, Numantra LP, LESCO Distributing, PremRock Drywall Services, Billor Machine Tool Service and others. Michelle Kirsch of Richland Investments' Dallas office provided in-house representation for Richland. The seller and acquisition price were not released.
WASHINGTON, D.C. — Laffal Property Associates has sold 55,000 square feet of office space in a Class B office building to Natak Investments for an undisclosed price. The property, located at 818 18th St. NW in Washington, is 97 percent occupied. Eric Berkman and Steve Gichner of Grubb & Ellis represented Laffal Property Associates in the transaction.
BEVERLY HILLS, CALIF. — Coldwell Banker Commercial WESTMAC has brokered FH Distributors’ $3.6 million sale of a 4,000-square-foot office building, located at 193 N. Robertson Blvd. in Los Angeles. Built in 1951 and 100 percent occupied by two tenants at the time of sale, the two-story boutique office building was used as the exterior setting for Townsend Investigations in the popular T.V. show “Charlie’s Angels,” which ran from 1976 to 1981. Coldwell Banker’s Bill Althouse, T.C. Macker and Michael Rojas represented the seller, and Kim Capobianco of Re/Max represented the buyer, So Nice LLC.
ROSSLYN, VA. — The Department of Defense has renewed five leases with Monday Properties in Rossyln totaling more than 293,500 square feet. The leases include 110,000 square feet at 1401 Wilson Blvd.; 83,740 square feet at 1400 Key Blvd.; and 47,600 square feet at 1101 Wilson Blvd. The transactions are all 5-year lease renewals. The General Services Administration's T.C. Hairston and Studley's Mett Miller and Todd Valentine represented the tenant. Chales Dilks and Kurt Stout of Grubb & Ellis, along with Monday's Tim Helmig and John Warton, represented the ownership.
WILMINGTON, DEL. — Bellevue Realty Co. has brokered the sale of two office buildings located in Wilmington. In the first transaction, Barbieri Holdings purchased a 4,500-square-foot property located at 109 W. 7th St. from Michael and Lisa Pedicone. Kevin McGonegal of Bellevue Realty represented the sellers and Anthony Medori of White Real Estate represented the buyers. Bellevue also arranged the sale of a 3,500-square-foot building and an adjoining parking lot located that are located at 715-719 N. Tatnall St. Bellevue Realty's Marvin Sachs and William Fincher represented the sellers, Children and Families First Delaware Inc. McGonegal represented the buyer, 715-719 N. Tatnall Street LLC. The acquisition prices in both transactions were not disclosed.
KENNESAW, GA. — A Montreal, Quebec-based party has purchased a 51,398-square-foot office building from a Florida-based investor for $9.65 million. Located at 1015 Cobb Place Blvd. in the Barrett Park Office Park in Kennesaw, the property is fully leased to Aaron Inc. Coro Realties' Ivan Copot represented the buyer. Jim Gibson of Stan Johnson Co.'s Houston office represented the seller.