Office

CONSTRUCTION COMPLETE FOR OFFICE/INDUSTRIAL BUILDING

by admin March 19, 2009

SAN DIEGO — Staples Construction, serving as general contractor, has completed the first of two buildings comprising 161,871 square feet of office/industrial space at Nexus University Science Center, which is located at 4737 and 4785 Executive Dr. in San Diego. The two-story, 58,904-square-foot building offers floor plates ranging in size from 25,945 to 46,564 square feet. The property features 16-foot floor-to-ceiling clearance and space suitable for biology and chemistry labs, vivarium and NMR rooms, and other ancillary uses. Pacific Cornerstone Architects provided architectural services for the project, which is being developed by Nexus Properties Inc.

March 19, 2009

SECOND PHASE OF LEED-GOLD OFFICE PROJECT UNDERWAY

by admin March 18, 2009

CLEARWATER, FLA. — Clearwater-based general contractor The Murray Co. has broken ground on the second phase of Hallmark Development of Florida’s 7.4-acre Offices at Park Place. The Gold LEED-certified project is located at 83 Park Place Blvd. in Clearwater. Half of the building has already been leased. Collman and Karsky Architects provided design services; Gulf Coast Engineering has also been assigned to the project. Environmentally friendly features include energy-efficient fixtures, green-certified building materials and an efficient irrigation system.

March 18, 2009

Midwest Office

STERLING COMMERCE RENEWS 322,679 SQUARE FEET AT DUKE PARK

by admin March 18, 2009

COLUMBUS, OHIO — Sterling Commerce, a subsidiary of AT&T, has renewed its lease for 322,679 square feet of space at Tuttle Crossing, a Class A office park located at Interstate 270 and Tuttle Crossing Boulevard in Columbus that is owned by Indianapolis-based Duke Realty Corp. Sterling Commerce occupies space at 4600 Lakehurst, 4675 Lakehurst, 4725 Lakehurst and 6060 Emerald Parkway — it is the sole occupant of each of the buildings. The company first leased space at Tuttle Crossing in 1993 and has since expanded into additional buildings. The new lease carries a 10-year term.

March 18, 2009

Northeast Office

OFFICE CONDO SPACE PURCHASED AT 185 DEVONSHIRE

by admin March 18, 2009

BOSTON — Boston-based Suffolk Devonshire LLC has acquired 75 percent of the space within 185 Devonshire Street, an 80,000-square-foot office condo building located in Boston’s Financial District. The seller, Coral Gables, Fla.-based Bayview Financial, had already sold 25 percent of the space in the building as office condos prior to the transaction with Suffolk Devonshire. The buyer plans to lease the condos, which range from 1,000 to 6,000 square feet, to office users with the option to buy or sell them at up to 50 percent reduced prices. Suffolk Devonshire has selected NAI Hunneman Commercial to provide sales and leasing services for the building. Bayview Financial acquired the building in 2005 and recently completed an extensive renovation. The building was originally constructed in 1914.

March 18, 2009

Office Southeast

12,457-SQUARE-FOOT OFFICE BUILDING SOLD FOR $5.25 MILLION

by admin March 17, 2009

WASHINGTON, D.C. — Washington-based 2031 Florida Avenue LLC has sold a 12,457-square-foot office building to the local investor 2033 Florida Avenue LLC for $5.25 million. The five-story building is located near the intersection of Connecticut and Florida avenues in Washington. A law firm leases the upper floors, and two retail tenants occupy the first floor. Bill Prutting of CB Richard Ellis’ Washington office represented the seller; Steve Solomon of Silver Spring, Md.-based Solomon Real Estate represented the buyer.

March 17, 2009

Northeast Office

BINSWANGER BROKERS $3 MILLION SALE

by admin March 17, 2009

PAOLI, PA. — Philadelphia-based Binswanger has brokered the sale of an 8,800-square-foot commercial building, located at 522 King Rd. in Paoli, for approximately $3 million. The property was formerly the location of the restaurant Basil. It was sold by 54-1K LP, which is a partnership between Scott Morrison and Philadelphia-area restaurateur Martin Grims. The buyer, Citadel Federal Credit Union, plans to utilize the property as a bank and office building, and will take occupancy by the end of the year. The seller plans to focus its restaurant brand on alternative markets.

March 17, 2009

Office Western

CONSTRUCTION BEGINS FOR 17,450-SQUARE-FOOT OFFICE BUILDING

by admin March 17, 2009

LAS VEGAS — Las Vegas-based Crisci Builders is developing and constructing Crisci Properties LLC, a commercial building located at 8845 W. Flamingo Rd. in Las Vegas. The two-story, 17,450-square-foot property will house Crisci Builders’ headquarters, as well as two other tenants. The general contractor is to complete ground-up construction on its professional building, which will include a 48-foot tall rotunda with a dual spiral staircase. Completion of the $2.3 million project is slated for June 2009. DAH Design is the architect of record.

March 17, 2009

Midwest Office

KORTE NEARS COMPLETION OF HEADQUARTERS SPACE

by admin March 16, 2009

ST. LOUIS — The Korte Company is nearing completion of the four-story, 70,000-square-foot Highlands Plaza Two office facility, which is located at 5700 Oakland Ave. in St. Louis. The company plans to occupy the second floor of the building, for which it served as the design/build contractor. It is located within The Highlands Office Park, a Balke Brown Associates-developed mixed-use campus. The ground-floor of the building will feature retail space, with the remaining three floors dedicated to office tenants. The building is being built to achieve LEED Silver certification.

March 16, 2009

Northeast Office

FIRM BUYS 27,000-SQUARE-FOOT OFFICE BUILDING

by admin March 16, 2009

BETHLEHEM, PA. — Adler Place Partners has purchased a 27,000-square-foot office building in the Bethlehem Business Park in Bethlehem from an undisclosed party for an undisclosed amount. Adler plans to renovate the property, which formerly housed the executive offices of National Penn Bank. One tenant has already signed a $1 million lease for 10,000 square feet of the space. Allentown, Pa.-based Dietrick Group represented Adler Place in the transaction.

March 16, 2009

Northeast Office

25,000-SQUARE-FOOT FLEX BUILDING CHANGES HANDS

by admin March 16, 2009

HARRISON, N.J. — New York-based Kingsland 138 Realty has purchased a 25,000-square-foot flex building from 501 Bergen LLC for an undisclosed amount. Due to the current lending climate, the transaction almost fell through. With the deal almost finished, Kingsland’s credit lines were frozen, forcing the seller to take a short-term mortgage out on the purchase price. Kingsland paid the difference from its own capital. Michael Weiss of Studley represented the buyer. The property is located at 501 Bergen St. in Harrison.

March 16, 2009

Newer Posts

Older Posts

Upcoming Events

Aug
06