SANTA ANA, CALIF. — The Orange County Shared Spaces Foundation has acquired a 33,981-square-foot office property, located at 1505 E. 17th Street in Santa Ana, for $2.8 million. Voit Real Estate Services’ Al Pekarcik and Dan Vittone represented the buyer, and the seller, 1505 E. 17th Street Associates, represented itself.
STERLING, VA. — Neustar has signed a 10-year lease with Bavar Properties Group to occupy its 92,000-square-foot Ridgetop III at Loudoun Tech Center building. The $18 million office property is located at 21575 Ridgetop Circle in Sterling. The tenant currently leases 45,000 square feet at the nearby Ridgetop I building and will move into the new Class A space by the end of the year. Jones Lang LaSalle's Robb Johnson represented Neustar in the lease. Neil Alt of Lincoln Property Co. represented the landlord.
NEW YORK CITY — The Metropolitan Transit Authority (MTA) has signed a 10-year lease for 112,940 square feet of office space at 333 West 34th Street in New York City. It will occupy floors seven through 10 of the building. Josh Kuriloff and Rob Lowe of Cushman & Wakefield represented the tenant in lease negotiations. The landlord, SL Green Realty Corp., was represented in-house by Steve Durels, who was joined by the Cushman & Wakefield team of Paul Glickman, Tara Stacom, Mitti Liebersohn, Doug Dolgoff and Diana Biasotti. SL Green recently completed a major redevelopment of the property following Citigroup's vacancy of the building, where it had been the sole tenant. In addition to the MTA's lease, The Segal Company recently signed a 156,000-square-foot lease and will occupy floors two through five. Occupancy is presently more than 81 percent.
WILLOWBROOK, ILL. — CenterPoint Properties has purchased a 50,157-square-foot office/warehouse distribution property in Willowbrook. A subsidiary of Prime Group Realty Trust sold the property for $4.3 million. Situated on 4.5 acres at 7100 Madison, the property consists of 60 percent office and 40 percent warehouse space. Trane Company, a HVAC equipment supplier, is currently leasing the property through December 2015. Jaime Fink, Jeffrey Bramson and Kenneth Glomb of Holliday Fenoglio Fowler represented the seller in the transaction.
CHICAGO — Walgreens has signed a lease to occupy 20,000 square feet of office space at the Sullivan Center in downtown Chicago. The company will utilize the space to house its e-commerce department, which will open with approximately 65 employees. Sullivan Center, which is approximately 80 percent leased, is owned and managed by Joseph Freed and Associates.
WOODBRIDGE, N.J. — Morristown, N.J.-based The Hampshire Companies has broken ground for the first building at CENTRA, its new 19-acre business park located in Woodbridge. The project consists of the redevelopment of an existing 98,500-square-foot building located at 186 Wood Avenue South. The building will be taken down to its structural steel, redeveloped into Class A office space and expanded by approximately 8,000 square feet. Completion is slated for late 2010. The project will be applying for LEED certification. The general contractor is Tishman Construction, and the project architect is Kohn Pederson Fox Associates PC. Cushman & Wakefield is handling leasing for the building. At full build-out, CENTRA could contain as much as 640,000 square feet of space.
PLANO, TEXAS — CMC Commercial Realty Group has sold the 209,089-square-foot CIGNA Pointe Building One to a private party for an undisclosed amount. The Class A property, located at 1640 Dallas Parkway in Plano, was completed in August to LEED Silver standards. CB Richard Ellis' Gary Carr, Russell Ingrum, Jack Fraker and Josh McArtor represented the seller.
LOS ANGELES — In partnership with Morgan Stanley Real Estate Investing, Kearny Real Estate Co. has sold a three-story, 183,400-square-foot office building to Kaiser Foundation Health Plan, a unit of Kaiser Permanente. The transaction completes the sale of the 13-building, 42-acre Kearny South Bay Business Park, the former site of the U.S. headquarters for Nissan North America. CB Richard Ellis’ John Ayoob represented the Kearny-led partnership in the transaction, and Steve Solomon of Jones Lang LaSalle represented the Kaiser Foundation.
BROOKFIELD, WIS. — Chicago-based Endeavor Cos. has acquired Executive Center IV, which is located at 235 N. Executive Drive in Brookfield. The three-story building offers 85,612 square feet of office space. A local developer sold the property for an undisclosed price. Tom Shepherd of Inland Cos. brokered the transaction.
FLOSSMOOR, ILL. — McShane Construction Co. has completed the construction of a 15,116-square-foot multi-tenant building, which is located at 19801 Governors Highway in Flossmoor. The Class A property offers flexible floorplans and state-of-the-art retail and medical office space. Currently signed tenants include Premier Orthopaedic and Hand Center, WCS Occupational Rehabilitation and Sports Medicine, and law firm Shapiro, Vasilatos & Cotter. Initial move-in is scheduled for mid-March. KLLM Architects provided architectural services for the project. Old Plank Trail Community Bank provided financing for the new development, which was developed by Alliance Real Estate.