Office

GRUBB & ELLIS BROKERS TWO LEASES FOR ENGLOBAL CORP.

by admin February 11, 2009

BEAUMONT, TEXAS — The Houston office of Grubb & Ellis has arranged two leases on behalf of ENGlobal Corp. in Beaumont. The first lease is for a new 52,518-square-foot office building located at 3155 Executive Blvd. within Executive Business Plaza. The building was constructed as a build-to-suit by Clay Development & Construction, and will be used for ENGlobal’s engineering and administrative operations. It replaces a building located on the same site that was destroyed by Hurricane Rita in 2005. ENGlobal is currently moving into the building. The second lease is for 80,808 square feet of industrial space located at 225 Portwall St. in Portwall Distribution Center II. The company is expanding its fabrication operations into the new space from a previous nearby location that totaled 62,641 square feet. ENGlobal will relocate to the space in March. Grubb & Ellis’ Robert Bantly and Scott Fikes represented ENGlobal in both transactions. The landlord in the second transaction, The Carson Companies, was represented in-house.

February 11, 2009

SAMSUNG MAKING PROGRESS ON SOUTH CAROLINA CARE CENTER

by admin February 10, 2009

MAULDIN, S.C. — Samsung Networks America is fast at work on its 80,000-square-foot North American Customer Care Center, located in the Centerpointe Business Park in Mauldin. Construction began on the $20 million project in September and is expected to wrap up in May. The Greenville Area Development Corp. worked to bring the firm to Mauldin, and officials estimate that the development will help generate 1,000 new jobs during the next 5 years. To accommodate future growth, the property can expand to 120,000 square feet.

February 10, 2009

Office Southeast

LOAN SECURED FOR 25,000-SQUARE-FOOT OFFICE BUILDING

by admin February 10, 2009

ROCKY MOUNT, N.C. — Brett Mason of NorthMarq Capital’s Raleigh, N.C., office has arranged $1.75 million in financing for the 25,000-square-foot Nottingham Office Building. The Rocky Mount property was formerly utilized as an apartment complex and a bank. StanCorp Mortgage Investors provided financing for the 5-year loan, which comes with a 25-year amortization schedule.

February 10, 2009

Midwest Office

SCHOOL DISTRICT PURCHASES 25,000-SQUARE-FOOT BANK OF AMERICA BUILDING

by admin February 10, 2009

ELMHURST, ILL. — Oakbrook Terrace, Ill.-based NAI Hiffman has brokered the sale of a 25,000-square-foot building located at 162 South York St. in Elmhurst. Elmhurst School District 205 has purchased the property from the Bank of America Pension Plan for approximately $3.18 million. Elmhurst School District 205 will use the property to consolidate its administrative offices, to expand the Early Childhood Program, to expand the 18-21 Year Old Transition Program, and to alleviate traffic and parking congestion at Hawthorn Elementary School. Lee Daniels of Lee Daniels & Associates represented Frank Catalano, the contractor purchaser who assigned its rights to Elmhurst School District 205. Dan Hiffman of NAI Hiffman represented Bank of America Pension Plan in the transaction.

February 10, 2009

Office Texas

HE CAPITAL LAUNCHES $4 MILLION OFFICE RENOVATION

by admin February 10, 2009

SUGAR LAND, TEXAS — HE Capital will complete a $4 million renovation plan at 14141 Southwest Freeway, a 515,000-square-foot, Class A office building located in Sugar Land. Improvements will be made to the building’s front entrance, lobby and elevators. HE is also renaming the property The Lake Corporate Center to reflect the 6-acre Sugarcreek Lake that is located adjacent to the campus. Construction is expected to commence in spring. Goulas & Associates will be serving as project architect, with Smith Commercial providing general contracting services. The Lake Corporate Center is currently 100 percent occupied by Unocal/Chevron but will be vacant in April 2010 when the tenant relocates to the Houston central business district upon the expiration of its lease. Chip Colvill and Michael Anderson of Colvill Office Properties have been retained by HE Capital to market the property. The Lake Corporate Center is situated on an 8.9-acre, landscaped campus. It features a teleconference facility with hi-definition audio-visual equipment, a recreation room, fitness facilities, a 216-seat auditorium and a 50-seat cafeteria.

February 10, 2009

Office Texas

PRUDENTIAL DISPOSES OF TWO OFFICE BUILDINGS

by admin February 9, 2009

AUSTIN, TEXAS — The Dallas office of Holliday Fenoglio Fowler (HFF) has arranged the sale of Barton Oaks II and III in Austin. The properties comprise two five-story, Class A office buildings located at 901 S. MoPac Expressway. Barton Oaks II totals 117,127 square feet and was 90 percent occupied at the time of closing. Barton Oaks III totals 121,467 square feet and is fully leased. Notable tenants at the buildings include The Broussard Group, Arbor E&T, Parsons Brinckerhoff, LifeSize Communications, Fiserv and IKON Office Solutions. HFF represented the seller, Parsippany, N.J.-based Prudential Real Estate Investors, and assisted the buyer, HPI Real Estate Services & Investments, in securing debt and equity financing for the purchase. A fixed-rate loan was secured through ViewPoint Bank, and joint venture equity was secured through Sarofim Realty Advisors. The acquisition price was not disclosed.

February 9, 2009

Office Western

TANTAU INVESTMENTS DEVELOPS 102,360-SQUARE-FOOT OFFICE BUILDING

by admin February 9, 2009

CUPERTINO, CALIF. — Tantau Investments LLC, a joint venture between Ralph Borelli, John Salera, Ron Tate and Larry Wallerstein, has completed the development of Cupertino Crossing, a 102,360-square-foot office building located within the Vallco Industrial Park in Cupertino. Built to LEED-Silver specifications, the building features a solar photovoltaic energy system, a cool roof, cool walls and the highest quality expansive glass frontage available. The property can accommodate multiple tenants divisible to 25,000 square feet or a single tenant. Sylvester R. Ramirez Associates provided architectural services for the project; Devcon Construction Inc. served as general contractor. Todd Shaffer, Mary Blaser and Patty McGuigan of Cornish & Carey Commercial have been retained to market the property.

February 9, 2009

Office Western

FIRST AMERICAN TITLE INSURANCE LEASES 93,753-SQUARE-FOOT OFFICE SPACE

by admin February 9, 2009

SCOTTSDALE, ARIZ. — First American Title Insurance has signed a 7-year lease for 93,753 square feet of office space at Pima Center, which is located at 9000 E. Pima Center Parkway in Scottsdale. The lease was valued at $14.63 million. Bill Blake, Colton Trauter, Craig Coppola and Andrew Cheney of Lee & Associates represented the landlord, Opus West, in the transaction.

February 9, 2009

Office Southeast

OFFICE BUILDING PURCHASED FOR $5.5 MILLION

by admin February 6, 2009

ORLANDO, FLA. — 2580 Technology Drive LLC has sold a 24,700-square-foot office building to The United Mexican States for $5.55 million. The two-story, Class A property is located at 2550 Technology Dr. in Orlando and will be used as a consulate office. Sale of the building included 4.5 acres of land. Nan McCormick of CB Richard Ellis’ Orlando office represented the seller, and Orlando-based RealTrend’s John Hussey represented the buyer.

February 6, 2009

Midwest Office

NYHART LEASES OFFICE SPACE WITHIN 150,000-SQUARE-FOOT BUILDING

by admin February 6, 2009

INDIANPOLIS — Nyhart Inc., the state’s largest pension actuarial firm, has signed a lease for approximately 20,000 square feet within Lake Pointe Center 5 on the northeast side of Indianapolis. Lake Pointe Center 5 is a newly completed six-story, 150,000-square-foot Class A office building located within the Allison Pointe office park. The building owner, Edgeworth Laskey Properties, was represented in-house in the transaction by John Edgeworth and Tom Laskey. Nyhart, which will move into the space in May, was represented by Drew Augustin and Bryan Augustin of NAI Olympia Partners. Additional terms of the lease were not disclosed.

February 6, 2009

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