LAS VEGAS — Marcus & Millichap has handled the $2.7 million sale of an office property located within Las Vegas Technology Center in the northwest submarket of Las Vegas. Marcus & Millichap’s Tina Taylor, Ned Zivkovic, Anthony Le, Reza Ghaffari and Albert Le represented the seller, a financial institution, in the REO sale, all-cash transaction.
Office
WEST PALM BEACH, FLA. — CB Richard Ellis brokered the sale of a two-story, 50,155-square-foot office building, which is located at 4100 Okeechobee Blvd. in West Palm Beach. 4100 Okeechobee Building Owner LLC acquired the property for $3.45 million or $68.78 per square foot. The building is currently 66 percent occupied by one tenant, Child and Family Connections. CBRE’s Scott O’Donnell, Dominic Montazemi, Kirk Nelson and Miguel Alcivar represented the buyer and the seller, New York-based Capital Resources Southeast, in the transaction.
GREENFIELD, IND. — Browning Investments has completed the development of the global headquarters for Elanco Animal Health, a division of Eli Lilly and Co. Located within Progress Park at Interstate 70 and State Route 9 in Greenfield, the three-building campus totals 129,000 square feet, including 14,000 square feet of lab space, a credit union and a cafeteria. Progress Park is a 52-acre business and life sciences park being developed by Browning. Jeff Luebker of CB Richard Ellis represented Elanco in the real estate transaction; Terry Busch, also of CB Richard Ellis, represented Browning.
CHICAGO — American Hospital Association (AHA) recently moved into its new 180,000-square-foot headquarters at 155 North Wacker Drive in Chicago. Seeking LEED-Silver certification, the newly finished space was designed by Partners by DESIGN. Leopardo Cos. served as general contractor for the property. The property features state-of-the-art mechanical, electrical and plumbing systems and a data center.
MARIETTA, GA. — OCI Chemical, a subsidiary of South Korea-based OCI Company LTD, has signed a lease for 13,770 square feet of office space at Five Concourse Parkway, Suite 2550, within Concourse Corporate Center in Marietta. The company is relocating its North American headquarters to the new facility from 1800 W. Oak Commerce Court in Marietta. Billy Hobbs and Jason Jones of CresaPartners Atlanta represented the tenant; Teresa Johnson of Cousins Properties Inc. represented the owner, TIA-CREF, in the transaction. Terms of the lease were not released.
ALTON, ILL. — Swansea, Ill.-based Holland Construction Services is currently renovating a six-story, 70,000-square-foot office building for the law offices of Simmons Browder Gianaris Angelides & Barnerd in Alton. The renovation of the 39-year-old former Smurfit-Stone Container Corp., which is located at One Court Street, includes complete removal of the existing single-pane glass walls, the creation of additional employee and visitor parking and the construction of an open cubicle area, 75 to 80 offices, a deposition room and a server room. Simmons will consolidate seven separate office locations into the new facility. Glen Carbon, Ill.-based Hurford Architects designed the project, which is seeking LEED certification.
FRAMINGHAM, MASS. — Claremont Realty Trust has purchased a 12,600-square-foot, multi-tenant office building located at 550 Worcester Road in Framingham for $1.92 million. Dean Blackey and Craig Johnston of R.W. Holmes Realty represented the seller, K&N Commercial. The pair also procured the buyer.
HOBE SOUND, FLA. — DiVosta Investments has purchased the Bank of America building in Hobe Sound for $1.87 million or $127 per square foot. Built in 1972, the two-story, approximately 14,686-square-foot office property was 100 percent occupied at the time of acquisition. William Strauss, David Donnellan, Todd Weintraub and Warren Sears of CB Richard Ellis represented the seller, Evanston, Ill.-based Bridge Road LLC, in the transaction.
VIRGINIA BEACH, VA. — Amerigroup Corp. has signed a lease for 30,528 square feet of office space at Corporate Center VI in Virginia Beach. Additional details of the transaction were not released. Donald Crigger of CB Richard Ellis represented the tenant; Gerald Keller of Pembroke Commercial represented the undisclosed landlord in the transaction.
NEW YORK CITY — Monday Properties has partnered with an affiliate of Savanna Investment Management to recapitalize 386 Park Avenue South, a 20-story, 260,000-square-foot office building located in Midtown Manhattan. The joint venture plans to pursue a repositioning program for the property that will include significant capital improvements. Monday Properties will continue to manage and lease the building.