Office

EDC TO RELOCATE TO CENTERPOINT IN WALTHAM

by admin April 16, 2010

WALTHAM, MASS. — Education Development Center (EDC) has announced plans to relocate its corporate headquarters to 120,000 square feet at 43 Foundry Ave. in Waltham, within the CenterPoint park. The nonprofit will occupy the space for a 10-year term beginning in November 2011. Its current headquarters is located approximately one mile away at 55-57 Chapel St. in neighboring Newton, Mass. Mark Roth of Cushman & Wakefield represented the landlord, a joint venture between Trammell Crow Company Acquisition Funds and Saracen Properties, in lease negotiations. Robert Richards, Jonathan Varholak and Ron Friedman of Richards Barry Joyce & Partners represented EDC. This most recent lease brings occupancy at the 23-acre, 500,000-square-foot office/R&D park to approximately 70 percent.

April 16, 2010

CASSIDY TURLEY BROKERS MORE THAN $6 MILLION OFFICE SALE SOUTH OF S.F. BAY

by admin April 16, 2010

LOS ALTOS, CALIF. — Cassidy Turley BT Commercial has negotiated the more than $6 million investment sale of a two-story, 14,250-square-foot office building located at 110 First Street in downtown Los Altos. Cassidy Turley’s Kalil Jenab and Greg Pickett represented the seller in its disposition of the totally vacant property to 110 First Street LLC.

April 16, 2010

Office Western

MARCUS & MILLICHAP NEGOTIATES 43,000-SQUARE-FOOT PURCHASE IN SO. NEVADA

by admin April 16, 2010

LAS VEGAS — Marcus & Millichap has brokered the $2.75 million acquisition of Silver Creek Office, a 43,226-square-foot complex located at 9708-9848 Gilespie Street in Las Vegas. Sixty percent occupied at the time of sale, the property consists of five separately parceled buildings with 174,000 square feet of excess land for future development. Marcus & Millichap’s Ned Zivkovic, Tina Taylor, Andy Glinski and Jacob Steele represented the buyer, a private investor, in the all-cash transaction.

April 16, 2010

Office Southeast

LAVISTA ASSOCIATES BROKERS THREE OFFICE SALES IN GEORGIA

by admin April 15, 2010

GEORGIA — Atlanta-based Lavista Associates recently brokered the REO sales of three Georgia office buildings. The firm's Austin Chase represented Excel Federal Credit Union in its sale of a 17,280-square-foot building to a private party for an undisclosed amount. The property is located at 101 Colony Park Drive in Cumming. Chase also represented State Bank & Trust in its sale of an office to an undisclosed party. The 5,900-square-foot property is located at 41 Milton Ave. in Alpharetta. John Cape and Kirven Brantley represented Westside Bank in an office disposition. The 9,000-square-foot Suwanee property is located in Satellite Park at Huntcrest.

April 15, 2010

Northeast Office

JLL BROKERS 105,000-SQUARE-FOOT OFFICE SALE

by admin April 15, 2010

CHELMSFORD, MASS. — Jones Lang LaSalle (JLL) has brokered the sale of a Chelmsford office property for $3.3 million. The property consists of a 105,000-square-foot office building located at 2 Elizabeth Drive. The building contains two 50,000-square-foot wings connected by a three-story atrium lobby. JLL's Peter Richardson and Flory McCarthy, formerly of JLL, brokered the deal between the seller, Sovereign Bank, and the buyer, Hittite Microwave Corp. The buyer plans to occupy the building, which is situated less than a mile from its world headquarters.

April 15, 2010

Office Texas

101,880-SQUARE-FOOT HOUSTON OFFICE BUILDING PURCHASED

by admin April 15, 2010

HOUSTON — American Spectrum Realty has sold a 101,880-square-foot office building to a private buyer for an undisclosed amount. Located at 5850 San Felipe St. in Houston, the six-story property was built in 1977 and renovated in 2004. Texas Petroleum Investment, Abby Office Centers, Legal Access Plans and other tenants lease 95 percent of the building. Victory Realty Solutions' Pamela Ngo Tranpark represented the buyer. Beth Young and Henry Hagendorf of Grubb & Ellis represented the seller.

April 15, 2010

Northeast Office

GOODFELLOW ASHMORE BROKERS $1.8 MILLION OFFICE/INDUSTRIAL SALE IN CONN.

by admin April 14, 2010

DANBURY, CONN. — Goodfellow Ashmore | CORFAC Internattional has brokered the sale of a commercial property located at 66 Wooster Heights in Danbury for $1.8 million. The 5.02-acre property contains a former house and barn that were converted into office and warehouse space, respectively. The two buildings total 6,752 square feet. The seller was Bartlett Realty, which had previously leased the property to Bartlett Tree Service, one of its affiliates. Ernie Badillo of Goodfellow Ashmore represented Bartlett Realty as well as the buyer, locally based JAR Associates.

April 14, 2010

Office Western

82,000-SQUARE-FOOT OFFICE BUILDING SELLS FOR $16 MILLION

by admin April 14, 2010

LOS ANGELES — PMCF Properties LLC has sold an 82,000-square-foot office building, located at 12304 Santa Monica Blvd. in west Los Angeles, for $16 million. Built in 1981, the three-story, multi-tenant office building was 55 percent occupied at the time of sale. Madison Partners’ Bob Safai, Lynwood Fields and Joe King represented the seller in the lender-facilitated transaction, and Craig Newlands and T.C. Macker of Coldwell Banker Commercial WESTMAC represented the buyer, 12304 Santa Monica Blvd LLC.

April 14, 2010

Office Western

GRUBB & ELLIS HANDLES 128,000-SQUARE-FOOT O.C. OFFICE LEASE RENEWAL

by admin April 14, 2010

IRVINE, CALIF. — Grubb & Ellis has represented JPMorgan Chase Bank in a 5-year, 127,718-square-foot office lease renewal at 1833 Alton Parkway in Irvine. Grubb & Ellis’ Chon Kantikovit, Maury Gentile and Mike Carson represented the financial services firm, which utilizes the facility for loan servicing operations. Legacy Partners, the property’s landlord, represented itself in the transaction.

April 14, 2010

Office Western

GVAKM NEGOTIATES $27 MILLION SALE OF METRO SEATTLE OFFICE BUILDING

by admin April 13, 2010

BELLEVUE, WASH. — The Bellevue office of GVA Kidder Mathews has handled Legacy Partners I Bellevue I-90 LLC’s $27 million sale of a 90,725-square-foot office property, located at 3460-3350 161st Ave. SE in Bellevue, to Realty Associate Advisors LLC. GVAKM’s Bob Conrad, Joe Lynch, Brian Hatcher and Andy Miller represented the seller in the transaction.

April 13, 2010

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