TRUMBULL, CONN. — New Boston Fund has leased 45,615 square feet of office space to Sun Products Corp. in Trumbull. Sun Products will occupy the entire building, which is located at 30 Trefoil Dr. within Trefoil Corporate Park, for a 15-year term. The building will undergo a complete renovation to accommodate Sun Products’ needs. The facility will be used by the company for the research, development, testing and quality control of its laundry detergent product line. Cushman & Wakefield’s (C&W) Tom O’Leary represented New Boston Fund in lease negotiations, while C&W’s Gregory Frisoli represented Sun Products Corp. New Boston Fund originally acquired the five-building Trefoil Corporate Park in 1998.
ORANGE, CONN. — Orange-based Fischer Real Estate has brokered a 40-year ground lease for 22 acres located at the interchange of Interstate 95 and Marsh Hill Road in Orange. The tenant, United Illuminating Co., plans to construct a new 140,000-square-foot corporate headquarters on the site. Alan Fischer of Fischer Real Estate represented the landlord, the Foyer family, while Les Cranmer of the Philadelphia office of Studley represented United Illuminating. In addition to the initial 40-year term, the lease contains a 40-year extension option, as well as a limited-condition purchase option. United Illuminating recently purchased the 34-acre former Showcase Cinema site located adjacent to the 22-acre parcel. Both sites will be used to consolidate the company’s operations.
NAPLES, FLA. — The Adler Group of Miami has received a $22 million loan for the purchase of two business parks totaling 252,422 square feet. Collier Park of Commerce and Commerce Center encompass 11 buildings near the Naples Municipal Airport in Naples. Financing for the loan was provided by Mercantil Bank of Venezuela. New York-based Cushman & Wakefield Sonnenblick Goldman secured the loan.
CHICAGO — The audit, tax and advisory firm KPMG LLP has signed a 15-year lease for 260,000 square feet of space within Aon Center, an office tower located in Chicago. Amenities at the building, which is owned by Atlanta-based Piedmont Office Realty Trust, include the Mid America Club, Café 200 — a 250,000-square-foot, full-service dining facility and a 243-sear auditorium. Additionally, Aon Center has direct internal access to the Fairmont Hotel and the seven-story Lakeshore Athletic Club. KPMG is relocating its Chicago office from 303 E. Wacker Dr. Beginning in August 2012, the company’s 1,700 Chicago employees will occupy floors 53 to 61 of the office tower.
WARREN, MICH. — L. Mason Capitani has arranged the sale of a 15,000-square-foot office building located at 29421 Ryan Rd. in Warren. Summit Oral & Maxillofacial Surgery has purchased the medical office facility from Warren Bank for an undisclosed amount. Summit Oral & Maxillofacial, which has three other offices in Michigan, is expanding from its current Warren location. Al Iafrate and Phil Myers of L. Mason Capitani represented the seller in the transaction.
NEWARK, N.J. — Two Gateway Center, an 832,000-square-foot office building located in Newark, has received the Energy Star designation from the Environmental Protection Agency. Originally constructed more than 35 years ago, the property has undergone significant renovations to increase energy efficiency. These include the replacement of all of the building’s lights and ballasts, the HVAC equipment, motors and elevators. New building automation systems were installed, motion sensors were installed in all offices and VFDs were built on the building’s HVAC systems. These steps have reduced the building’s annual operating expenses by 20 to 25 percent. Two Gateway Center is owned by Manhattan, New York City-based C&K Properties. CB Richard Ellis serves as exclusive leasing agent, with Cushman & Wakefield providing property management services.
DALLAS — The Texas Capital Bank Building, a 20-story, 507,000-square-foot office building located at 2000 McKinney Ave. in uptown Dallas, has opened. The tower, which was designed by HKS Inc., includes street-level restaurant and retail space, a 1,300-space parking garage built into the building’s base and 15 residential units along the building’s Woodall Rodgers Freeway frontage. The property’s office component is currently 35 percent occupied by a tenant roster that includes Texas Capital Bank and Corrigan Properties. Occupancy will increase to more than 80 percent by late spring when Lincoln Property Co. takes moves into its offices.
ORLANDO, FLA. — The Pizzuti Cos. will break ground on a 160,000-square-foot office property at 777 N. Orange Ave. in Orlando later this year. The Class A building will be constructed to LEED specifications and will house 10,000 square feet of ground-floor retail space. Orlando-based HuntonBrady Architects is designing the property, and Birmingham, Ala.-based Brasfield & Gorrie will serve as the general contractor. Pizzuti is aiming for a January 2011 completion.
FAIRFAX, VA. — Long Island, N.Y-based Gyrodyne Co. of America will purchase the 59,108-square-foot Fairfax Medical Center from an undisclosed party for $13.2 million. The property, which encompasses two four-story buildings on 3.5 acres of land, is located at 10721 Main St. in Fairfax. Fairfax Medical Center is 84 percent occupied by 28 tenants. Gyrodyne anticipates closing on the purchase no later than April 30.
CANTON, GA. — Aurelius Holdings and Canton-based Highridge Partners are predicting a summer completion of the 24,000-square-foot 151 Main. The $5.5 million Class A office building is located in downtown Canton. The property will house office suites and ground-level retail space.