MINEOLA AND NEW YORK, N.Y. — Massey Knakal Realty Services has brokered two sales in the New York City metropolitan area. In the first transaction, the company arranged the sale of two office buildings, located at 372 and 378 Willis Ave. in Mineola. Both buildings contain two stories; the first building totals approximately 4,700 square feet and the second totals 2,200 square feet. Massey Knakal’s Nalini Chugh arranged the transaction. The buildings traded for $1.2 million. In the second transaction, Massey Knakal’s Eric Greenfield handled the $900,000 sale of an approximately 4,200-square-foot community facility located at 150 Kenilworth Place in Brooklyn’s Flatbush neighborhood. The buyer is a neighborhood developer that plans to use part of the building as his rental office and lease the remaining space to a retailer that caters to college students.
CHICAGO — Leopardo has completed a $4.3 million renovation for the 22,000-square-foot Chicago office of the international law firm Jones Day. Located at 77 W. Wacker Dr., the office had its executive conference floor remodeled with a more modernized look. Along with an upgrade HVAC and cabling infrastructure, the floor also received 15 new or upgraded meeting rooms, five administrative offices and a café/break room. Leopardo served as the general contractor with Gensler as the architect.
ROLLING MEADOWS, ILL. — Transwestern has completed a 10-year, 23,682-square-foot lease renewal at Continental Office Towers in Rolling Meadows for Associated Agencies. The Class A building, which is located at 1701 Golf Rd., consists of three 12-story office towers. The firm received tenant improvement dollars to renovate the space, flexible expansion rights and monument signage rights.
NEW YORK CITY — L&L Acquisitions has negotiated a lease renewal and expansion for office space located in Midtown Manhattan, New York City. Cornerstone Research, a national strategic and economic consulting firm, has renewed and expanded its tenancy to 34,891 square feet at 599 Lexington Avenue. Cornerstone will continue to occupy floors 42 to 44 while adding expansion space on 41. The long-term lease renewal also includes options for future growth. The 47-story office building is owned by Boston Properties. The deal was brokered by David C. Berkey of L&L Acquisitions, the brokerage arm of Manhattan-based L&L Holding Company, a privately owned real estate investment company.
COLLEYVILLE, TEXAS — Colleyville-based Realty Capital Corp. (RCC) disposed of 261 East Southlake Boulevard, a 7,056-square-foot office building located within Colleyville’s Chapel Hill Office Park. The building is fully occupied by Ravi Doctor DDS and Kumon Learning Center. The building was purchased by Southlake Chapel Hill 34 LLC, a partnership of Dallas-based real estate investors managed by Stephen Swann of Expedition Capital Partners. This most recent sale is the fifth office building to be sold at Chapel Hill. RCC currently owns two remaining development sites at the park.
WINTER GARDEN, FLA. — Doug Rozzell and Jeff Schnupp of Thomas D. Wood & Co. have secured $2.8 million in financing for the 31,857-square-foot Mercantile Office Building. The property, located at 12200 W. Colonial Dr. in Winter Garden, houses the Mercantile Bank. Financing for the 5-year loan was provided by The Standard Life Insurance Co. The loan carries a 6.75 percent interest rate and a 25-year amortization.
WINNETKA, ILL. — New Trier Partners has acquired an office building located at 714-716 Elm St. in Winnetka for an undisclosed amount. The building, which was purchased out of foreclosure, is situated adjacent to the Winnetka Metra train station. It was almost fully occupied at the time of closing. New Trier purchased the property on behalf of New Trier Real Estate Partners II LP, a value-added fund launched by the company more than a year ago. Terms of the transaction were not released.
WAYNE, PA. — Construction is complete for a $10 million renovation to Wayne Woods Office Center, a 12-building, 370,000-square-foot office park located at 983-999 Old Eagle School Rd. in Wayne. Construction primarily consisted of upgrades to the property to accommodate the center’s new anchor tenant, technology service provider Evolve IP. The company invested more than $10 million for a new data center and a Network Operations & Security Center that provides services to tenants of the office park. In addition, new landscaping was installed, new common area finishes were added, the parking lot was upgraded, sidewalk and curbing enhancements were added and exterior lighting was upgraded. To correspond with Evolve IP’s occupancy, the center has been renamed Evolve IP Corporate Center and the identification signage has been updated. The property is owned by GPX Realty Partners.
HOUSTON — Construction is complete for Beltway II, a Class A office building located in Houston. The building is part of Beltway Lakes, a 46-acre, master-planned project situated at the intersection of Beltway 8 and Highway 249 in northwest Houston. The initial phase of development for the park comprises Beltway I and II, two six-story office buildings that total 323,000 square feet. Both have been pre-certified for the Gold level of LEED-Core & Shell and both are ready for immediate occupancy. Beltway Lakes is owned, developed and managed by locally based Radler Enterprises.
PHOENIX — Phoenix-based Medical Monitoring Services has purchased a 23,455-square-foot Class A office building, which is located at 1606 W. Whispering Wind Dr. in Phoenix, for $3.3 million. The two-story office building is situated on approximately 1.15 acres in the Deer Valley submarket. The property features 19,455 square feet of Class A office space and a 4,000-square-foot, fully furnished warehouse with three roll-up doors, seated flooring and full air conditioning. The buyer plans to occupy a portion of the building. Todd Noel, Keith Lambeth, Charles Miscio and Michael Crystal of Colliers’ Phoenix office represented the buyer; Mike Ciosek, Eric Bell and Bob Lundstedt of Colliers International’s Scottsdale, Ariz., office represented the seller, Phoenix-based Happy Valley Office LLC, in the transaction.