Office

512,000-SQUARE-FOOT OFFICE/R&D FACILITY SELLS

by admin July 29, 2009

CHANDLER, ARIZ. — Austin, Texas-based Capital Commercial Investments has acquired a 512,000-square-foot office/research and development facility, which is located at 2501 S. Price Rd. in Chandler. Situated on 152 acres between Germann and Queen Creek roads, the two-story property, which was the former Motorola campus, sold for an undisclosed price. Luke Walker of CB Richard Ellis’ Phoenix office represented the buyer; Jeff Adkinson of Jones Lang LaSalle represented the seller, Schaumburg, Ill.-based Motorola, in the transaction.

July 29, 2009

OFFICE BUILDING REDEVELOPMENT NEARS COMPLETION

by admin July 28, 2009

MARYLAND HEIGHTS, MO. — The redevelopment of a 47,000-square-foot office building in Maryland Heights is nearing completion. The project, spearheaded by HDA Architects and the building’s new owner-occupant, Intoximeters, included significant internal renovations and minor modifications to the building exterior. The $2.8 million renovation was initiated by Intoximeters after the company sought numerous new build sites throughout the St. Louis market, before deciding on the more cost-effective redevelopment route.

July 28, 2009

Northeast Office

DENHOLTZ ASSOCIATES PURCHASES 56,000-SQUARE-FOOT OFFICE BUILDING

by admin July 28, 2009

BERNARDSVILLE, N.J. — New Jersey-based Denholtz Associates has purchased a 56,000-square-foot office building located in Bernardsville. The building, a Class A property situated at 150 Morristown Rd., was acquired by Denholtz in a joint venture with Roseland, N.J.-based Becker Brothers. The sellers, RAIT Financial Trust and NPV Direct, recently completed substantial renovations to the property. Terms of the transaction were not released.

July 28, 2009

Northeast Office

CAMPBELL COMMERCIAL BROKERS 39,600-SQUARE-FOOT OFFICE SALE

by admin July 28, 2009

HERSHEY, PA. — Camp Hill, Pa.-based CAMPBELL Commercial Real Estate has brokered the sale of a 39,600-square-foot office building, located at 1135 E. Chocolate Ave. in Hershey. The building was acquired by American Dental Care, which plans to renovate and occupy the first floor of the building. Art Campbell and Derek Bicksler of CAMPBELL represented the seller, Verizon North. The buyer was represented by Joe Gallo of the Hershey office of ReMax. The acquisition price was not disclosed.

July 28, 2009

Northeast Office

JLL ARRANGES 54,000-SQUARE-FOOT MANHATTAN SUBLEASE

by admin July 28, 2009

NEW YORK CITY — Jones Lang LaSalle (JLL) has arranged a 54,000-square-foot sublease at Grand Central Square, a 921,370-square-foot, Class A office building located at 485 Lexington Ave. in New York City. The subtenant, EdisonLearning, will be leasing the space, which is located on the building’s second floor, from Advance Magazine Publishing. Daoud Awad, Derek Trulson and William peters of JLL’s New York office represented EdisonLearning in lease negotiations. David Hollander, Ken Meyerson and Gregory Tosko of CB Richard Ellis represented the sublessor.

July 28, 2009

Office Western

FOUR TENANTS JOIN TRI-POINTE PLAZA

by admin July 28, 2009

TUCSON, ARIZ. — CB Richard Ellis has brokered four leases at Tri-Pointe Plaza, a 153,000-square-foot office property located at 6367 E. Tanque Verde Rd. in Tucson. David Volk and Bruce Suppes of CBRE’s Tucson office represented the landlord, Los Altos, Calif.-based Tri Pointe Tucson, in the transactions. San Diego-based Sony Online Entertainment signed a 5-year lease for 10,823-square-feet of office space. Bob Davis and Howard Kong of Grubb & Ellis Tucson represented the tenant. Tucson-based Bayada Nurses Inc. signed a 7-year, 5,882-square-foot lease. Dr. Ellen Elchler inked a 7-year lease for 2,660 square feet of space. Additionally, Cory G. Hicks & Associates signed a 5-year, 2,150-square-foot lease. Tom Nieman of PICOR Commercial represented the tenant. Financial terms of the transactions were not disclosed.

July 28, 2009

Office Southeast

ATLANTA JOB CORPS CENTER SOLD

by admin July 27, 2009

ATLANTA — McLendon-Jones Enterprises has sold the 132,000-square-foot Atlanta Jobs Corps Center to Aroostook Property Management for an undisclosed price. Located at 239 W. Lake Ave. in Atlanta, the property was built in 1951 as an apartment complex and is now leased as an office building by the federal government. Jon Cunha and Michael Bull of Atlanta-based Bull Realty brokered the sale.

July 27, 2009

Office Southeast

96,900-SQUARE-FOOT OFFICE LEASE SIGNED

by admin July 27, 2009

ALPHARETTA, GA. — Kaplan Higher Education Corp. has leased 96,900 square feet from SLC Winward in Alpharetta. The office space is located at 1015 Winward Ridge Parkway. Grubb & Ellis’ Steve Morgan represented the tenant.

July 27, 2009

Office Southeast

CONSTRUCTION OF SUMMERHAVEN OFFICE BUILDING COMPLETE

by admin July 27, 2009

DEBARY, FLA. — Longwood, Fla.-based Cotter-Ryan Commercial has completed construction of the 16,000-square-foot SummerHaven office building. The property is located on Enterprise Road in DeBary. SummerHaven Professional Center LLC is developing the three-story building.

July 27, 2009

Northeast Office

STUDLEY NEGOTIATES LONG-TERM LEASE IN FARMINGDALE

by admin July 27, 2009

FARMINGDALE, N.J. — Palisades Safety and Insurance Management Corp. has signed a long-term lease for the entire 26,683-square-foot office building located at 5006 Belmar Blvd. in Farmingdale. The auto insurance provider is moving approximately 100 employees from its commercial auto underwriting and Southern New Jersey claims operations currently located at Four Paragon Way in Freehold to the new location. The building is located on the highly visible northwest intersection of Highway 34 and Belmar Boulevard, within the 28-acre Allaire Corporate Campus that is owned by Bollerman Development Corp. Robert Bull and Philip Lipper of Studley represented the new tenant in the transaction, and Bollerman was represented in-house.

July 27, 2009

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