BLOOMINGTON, MINN. — Avtex has signed a lease at Northland Center, a 465,000-square-foot office complex in Bloomington. The company plans to relocate to the 15,000-square-foot space in the fall. The company is currently located at SouthTech Plaza in Bloomington. Bill Rothstein and Dan Wicker of NorthMarq Capital represented the landlord, United Properties, in the transaction. Terms of the lease were not released.
BOSTON — CB Richard Ellis (CBRE) Capital Markets has brokered the sale of the Church Green Building in Boston's Financial District for $5.7 million. Located at 101 Summer St., the property contains 42,600 square feet of Class A office space—35,000 square feet of which is leased to Capital Crossing Services Co.—as well as 8,000 square feet of ground-floor retail space. CBRE's Chris Angelone, Bill Moylan and Matt Pullen represented the seller, Aurora Bank FSB, and procured the buyer, Synergy Investment & Development. CBRE has also been retained to lease the property.
NEW YORK CITY — The grand opening has been held for Bank of America Tower in New York City. The 55-story building, which is located at One Bryant Park, is being touted as the first high-rise commercial tower in the United States to receive LEED-Platinum certification, which it was awarded under the program's Core & Shell designation. Sustainable features include a high-performance glass curtain wall and an efficient under-floor air delivery system. Tenants at the 2.1 million-square-foot tower include anchor tenant Bank of America as well as Al Gore's Generation Investment Management. The project is owned by The Durst Organization and was designed by Cook + Fox Architects.
WASHINGTON, D.C. — Perkins Coie has signed a long-term lease for 56,294 square feet of office space at 700 13th Street in Washington, D.C. The law firm currently occupies 43,929 square feet at 607th 14th Street and plans to take occupancy of the new property in January 2011. Steve London and Lois Zambo of Studley represented the tenant; Dave Bevirt of Jones Lang LaSalle represented the landlord, Charter Hall, in the transaction. Terms of the lease were not disclosed.
PARSIPPANY, N.J. — Prism Capital Partners has re-acquired a 180,000-square-foot, Class A office building located at 399 Jefferson Road in Parsippany. The company originally sold the property in 2006 to HSBC, which also planned to occupy it. However, HSBC never took occupancy and brought the property back to market. Prism pans to complete capital improvements to the building, which HSBC gutted, and mount a repositioning campaign to lease it. Joe Garibaldi and Peter Nicoletti of Jones Lang LaSalle represented HSBC in negotiations.
HOUSTON — The Houston and Dallas offices of Holliday Fenoglio Fowler (HFF) have arranged a financial joint venture for Southwest Science Center, a 34,277-square-foot facility in Houston. Located at 4150 Interwood South Parkway, the building is fully leased to the General Services Administration, and serves as a state-of-the art forensics laboratory that was developed and constructed for U.S. Customs & Border Protection. HFF's Dan Miller, Mona Carlton and Trent Agnew represented the owner, Austin, Texas-based Live Oak Gottesman Company. Under the agreement, a private real estate group entered into a joint venture with the owner and assumed existing debt.
GARLAND, TEXAS — Allied Insulation & Supply has relocated its headquarters with the lease of 40,000 square feet of office/warehouse space in Garland. Located at 850 South Jupiter Road, the space is located within the 170,731-square-foot Jupiter Distribution Center, which also houses a distribution center for Petco. Michael Herzstein and Pete Richardson of Henry S. Miller represented Allied Insulation, while Michael Peinado of Lincoln Property Company represented the owner.
HOUSTON — Bonner Investment Properties has purchased a 48,000-square-foot building at 7905 Blankenship in Houston. The seller, Antoine Investment, was represented by Joe MacDougall of Joe MacDougall & Co. Chris Kugle, John Ferruzzo and Dustin Gillioz of NAI Houston represented the buyer.
DECATUR, GA. — Oakhurst Realty Partners has purchased the Executive Building, which is located at 125 E. Trinity Place in downtown Decatur. The three-story, 16,500-square-foot property offers two floors of office space above ground-level retail space. The buyer plans to immediately renovate the property. B. Fisher Paty and A. Barton Lester provided in-house representation for the buyer. The seller and acquisition price were not disclosed.
EDINA, MINN. — NorthMarq Capital’s Minneapolis office has arranged a $13 million first mortgage for Centennial Lakes IV in Edina. Located within a 100-acre mixed-use development, the property offers 215,790 square feet of Class A office space. Financing was based on a 10-year term with a 25-year amortization schedule. NorthMarq’s Patrick Minea originated the loan through the company’s correspondent relationship with Minnesota Life Insurance Co.