SPARTANBURG, S.C. — A private investor based in the Midwest has purchased the 127,426-square-foot CH2M Hill building from an undisclosed institutional investor for $14.65 million. The office building, located at 1500 International Dr. in Spartanburg, is 100 percent leased to the engineering firm CH2M Hill. Tulsa, Okla.-based Stan Johnson Co.’s Craig Tomlinson brokered the purchase, and Doug Connell and Doug Webster of Grubb & Ellis’s Atlanta and Greenville, S.C., offices, respectively, represented the seller.
GILBERT, ARIZ. — Webster, Mass.-based The Commerce Group Inc. has purchased a 58,194-square-foot single-tenant office building, which is located at 1555 N. Fiesta Blvd. in Gilbert. Reston, Va.-based Southwest Student Services Company sold the property for $8.76 million. The Commerce Group is a subsidiary of Mapfre International, a division of Mapfre SA, Spain’s largest insurer. Kit Tiedemann and David Barrett of CB Richard Ellis’ Phoenix office represented the buyer; Harry Klaff of Jones Lang LaSalle’s Washington, D.C., office represented the seller in the transaction.
ATLANTA — Brasfield & Gorrie has broken ground on a 130,000-square-foot Class A office building in Grove Street Partners’ Gateway Center development near the Hartsfield-Jackson Atlanta International Airport. The office, which represents the first phase in the airport project, will be built to LEED standards. Rule Joy Trammell + Rubio designed the building, and Valdosta, Ga.-based Park Avenue Bank provided financing. Delivery is expected in August. A joint venture between Grove Street and Boston-based Fidelity Investments, the 1 million-square-foot Gateway Center will encompass 400,000 square feet of office space, 60,000 square feet of retail space and two hotels.
ORLANDO, FLA. — Ustler Development will break ground early next year on the 105,000-square-foot GAI Building in downtown Orlando. GAI Consultants has leased 65,000 square feet of space in the property, which is located at 618 E. South St. The company will move into the building in spring 2010 and will eventually employ 200 workers. Baker Barrios Architects designed the building, and Brasfield & Gorrie will serve as the general contractor. GAI, the original owner of the site, sold the property to Ustler for redevelopment and then leased space for a new office. Chris Sproles of CB Richard Ellis’ Orlando office represented GAI in both the lease and the earlier sale.
NEWARK, DEL. — Nationwide Finance Network has completed the sale and partial leaseback of its approximately 160,000-square-foot corporate offices, located at 300 Continental Dr. in Newark, for $20.75 million. The three-story, Class A building is situated on 22 acres. It features a data center on the second floor, 720 parking spaces and expansion capability. The buyer, Sallie Mae, plans to open a new credit operations center at the site. The company subsequently leased 72,000 square feet to Nationwide Financial Network for a 1-year term. Daniel Reeder and John Kaczowka of CB Richard Ellis’ Greater Philadelphia/Wilmington, Del., office, along with Terry Matthews of the Columbus, Ohio, office of CB Richard Ellis, represented the seller.
BOSTON — The Boston office of Gilbane has completed the interior build-out for Cengage Learning’s new, expanded offices at 10 and 20 Channel Center St. in Boston. The office space totals 100,000 square feet over three floors of the two adjacent buildings. Interior construction was completed in 60 days. Gilbane served as construction manager; the project architect was Boston-based TRO Jung/Brannen. Channel Center, as the two office buildings are known, is owned by Channel Center Holdings VAF LLC, a joint venture between Commonwealth Ventures and GEAM Value Add Realty Partners.
CENTENNIAL, COLO. — Barry Higgins and Taylor Turano of Marcus & Millichap’s Denver office represented both parties in the disposition of Southglenn Plaza, a multi-tenant office property located in Centennial. An undisclosed limited liability company acquired the property for $3.12 million. Located at 2305 E. Arapahoe Rd., the property was 70 percent occupied at the close of escrow. The seller was not disclosed.
SAN DIEGO — Jomola Investments Inc. has acquired a 6,513-square-foot office property, which is located at 6225 Lusk Blvd. in San Diego’s Sorrento Mesa district. Pearson Family Trust sold the property for $2.2 million. Glenn Arnold and Todd Murphy of Grubb & Ellis|BRE Commercial represented both parties in the transaction.
NEWNAN, GA. — Out-Med II has sold a 31,213-square-foot office property to an undisclosed buyer for $5.25 million. The building, located at 2959 Sharpsburg McCollum Rd. in Newnan, is occupied by The Papp Clinic. Atlanta-based Bull Realty brokered the transaction.
WARRENVILLE, ILL. — Skokie, Ill.-based The Missner Group has sold Corporate Lakes I, a 79,211-square-foot office building located at 2525 Cabot Dr. within Corporate Lakes Business Park in Warrenville. The property, which is 100 percent leased, was sold for approximately $10.7 million. A limited liability company formed and sponsored by Kevin Travers of Midwest Realty Advisors has acquired the three-story building. The property features an outdoor running path and a daycare area, and is within close proximity to restaurants and hotels. David Tarnoff, Howard Wiese and Brad Ader in the Chicago O’Hare office of Marcus & Millichap represented The Missner Group in the transaction.