COLORADO — Fuller Real Estate recently completed three transactions totaling $13.55 million in Colorado. In the first transaction, KCBC LLC completed the disposition of a 50,724-square-foot, three-building office complex, which is located at 10394 and 10499-10579 W. Chatfield Ave. in Littleton, Colo. The state of Colorado purchased the property for $4.9 million. John Becker and Mike Haley of Fuller Real Estate represented the seller. In the second transaction, B&J Properties Limited LLC acquired a 58,750-square-foot office building, which is located at 13111 E. Briarwood Ave. in Centennial, Colo., from Thirteen One Eleven Corp. for $4.5 million. Ron Allum of Fuller represented the buyer. In the final transaction, Mellisuga Inc. sold an 115,000-square-foot industrial building, which is located at 2201 S. Wabash in Denver, to Grande Investment LLC for $4.15 million.
SAN DIEGO — RRN Mesa Rim LLC has purchased a 27,512-square-foot office building, which is located at 10110 Mesa Rim Rd. in San Diego, for $5 million. The property will be occupied by Mesa Rim Climbing Center, which plans to raise the roof by approximately 40 feet to construct a 40-foot indoor rock-climbing wall. The facility is slated to open in third quarter 2009. Bryce Aberg and Brant Aberg of Grubb & Ellis|BRE Commercial represented the buyer. The seller was LBA/MET Partners I-Company IV LLC.
FORT WORTH, TEXAS — Arlington, Texas-based SCM Real Estate Services has negotiated the sale of a three-story, 16,968-square-foot office building located at 6750 Locke Ave. in Fort Worth. SCM’s Theron Bryant represented the seller, California-based KHI Locke LLC. The buyer was Dallas-based Parkwood Management. The acquisition price was not disclosed.
BROOMFIELD, COLO. — Franklin Street Properties and Prime West have broken ground on Central Park Tower, an 11-story, 305,000-square-foot office building located within Interlocken Business Park in the Broomfield area. Designed by Gensler, the building has received a pre-certified LEED Gold rating and features outdoor and indoor dining areas, formal and informal galleries and high-end finishes. Additionally, the property features a fitness center, multiple shared collaboration areas, a café and secure underground parking. The Weitz Company is serving as general contractor. Completion is slated for 2010.
WASHINGTON AND OREGON — GVA Kidder Mathews (GVAKM) has completed two transactions totaling $13.35 million in Oregon and Washington. In the first transaction, Northwest Professional Center LLC acquired a 31,569-square-foot office building, which is located at 15211 NE 20th St. in Bellevue, Wash., for $9.75 million. Gary Guenther and Lauren Powell of GVAKM represented the buyer; John Black and Jason Furr of Broderick Group represented the seller, Michael R. Mastro, in the transaction. In the second transaction, Charles Brazer and Jordan Carter of GVAKM represented King’s Landing LLC and Kasch, Floyd & Georgia in the purchase of a 54,700-square-foot multifamily property. Located at 1420 NW 20th St. in Corvallis, Ore., the property sold for $3.6 million. Ira Virden of Marcus & Millichap represented the seller, Charles Stevens, in the transaction.
CONCORD, CALIF. — The city of Concord has purchased an approximately 10,600-square-foot office building for $2 million. The property is located at 1899 Clayton Rd. in the city’s Redevelopment District. Eric Erickson, Trigger Reital and Edward Del Beccaro of Colliers International represented the undisclosed seller in the transaction.
NEW HAVEN, CONN. — A joint venture between an investment fund controlled by Jonathan Rose Cos. and an affiliate of The Hurley Group has acquired an approximately 130,000-square-foot office complex, located at 45-55 Church St. in New Haven, for $8 million. Situated on 1.29 acres, the complex comprises an eight-story, 105,522-square-foot office building located at 55 Church St.; a three-story, 24,126-square-foot, Greek revival-style bank building located at 45 Church St.; and an adjacent 76-space parking garage. The office tower, which was built in 1972 and renovated in 1999, is currently 71 percent occupied by 13 tenants; the vacant bank building, which was built in 1907, was most recently occupied by Wachovia Bank. Steven Inglese and Rob Montesi of The New Haven Group represented both parties in the transaction. The seller was ECP Church LLC. The buying entities were Rose Smart Growth Investment Fund I LP, Jonathan Rose’s fund, and 45-55 Church Street LLC, Hurley’s affiliate. The joint venture plans to undertake a $3 million capital improvements and leasing program; the partnership will seek LEED – Existing Buildings and Energy Star certifications for the project.
RAHWAY, N.J. — Weichert Commercial Brokerage has brokered the sale for approximately 41,000 square feet of office space at 2 City Hall Plaza, located in Rahway. The property rises three stories and contains 65,000 square feet of Class A office space. The first floor is currently occupied by The Rahway Public Library; the vacant second and third floors of the building, which contain 20,499 square feet of space each, were included in the sale. Weichert’s Beth Krinsky and Terry Kenny represented the seller, SD LLC, and the undisclosed buyer in the transaction. In addition, Weichert was retained by the buyer to market the 41,000 square feet of space for lease.
ALLENTOWN, PA. — Allentown-based Summit Management & Realty Co. has negotiated the purchase of a 7,100-square-foot office building located in Allentown. Situated at 1176 N. Irving St., the property traded for approximately $670,000. Summit’s Jennifer Gold represented the buyer, Cornerstone Consulting Engineer & Architectural, which will use the facility as its new corporate headquarters. The seller was not disclosed.
HOUSTON — Hess Corp. has signed a long-term lease to occupy all of Discovery Tower, a high-rise office tower under construction at 1501 McKinney St. in downtown Houston. The project, which is being developed by a joint venture between Dallas-based Trammell Crow Co. and Principal Real Estate, has been under construction since March 2008. Given the early stage of construction, the tower is being customized to accommodate Hess Corp. It will rise 29 stories and total 844,763 square feet. Other features, such as floor plate sizes and ceiling heights, are also being customized. The project, which has been renamed Hess Tower, is applying for LEED-Gold certification and, upon receiving the designation, will be the first LEED-Gold office building in Houston’s central business district. Completion is scheduled for summer 2010. Hess Corp. will relocate from its current offices in Houston’s Allen Center to Hess Tower in 2011. Hess Corp. was represented in lease negotiations by Tim Relyea of Cushman & Wakefield. Trammell Crow and Principal were represented by John Pruitt and Cody Armbrister of CB Richard Ellis.