Office

BDP LEASES 119,000 SQUARE FEET AT BOLINGBROOK CORPORATE CENTER

by admin August 19, 2009

BOLINGBROOK, ILL. — Chicago-based Bridge Development Partners (BDP) has leased 119,000 square feet within Bolingbrook Corporate Center II to Honeywell International. The Morristown, N.J.-based tenant will take occupancy of the building, which is located at 101 E. Crossroads Pkwy. in Bolingbrook, for a 10-year term beginning in September. Honeywell plans to consolidate its division headquarters as well as its manufacturing and distribution operations into the new building. Andy Sexson of Rosemont, Ill.-based Colliers Bennett & Kahnweiler (CBK) and Kevin O’Donnell of O’Donnell Commercial Real Estate represented the tenant. Vern Shultz and Peter Bourke, also of CBK, represented the landlord. Bolingbrook Corporate Center II is owned by Bridge Development Partners in a joint venture with San Francisco-based McMorgan & Co. The 283,630-square-foot building was constructed in 2001 and features 30-foot clear ceiling heights, 28 docks and two drive-in doors.

August 19, 2009

CTMT BROKERS OWNER-USER OFFICE SALE

by admin August 19, 2009

KANSAS CITY, MO. — Colliers Turley Martin Tucker (CTMT) has brokered the sale of 720 Oak, an office building located in Midtown Kansas City. The building was purchased by The Builders’ Association, which will occupy 15,000 square feet, bringing occupancy up to 81 percent. A 3,850-square-foot vacancy remains on the second floor. The building will also be renamed the Builders’ Association Building. It recently underwent a $2.5 million renovation, which included new exterior, interior, landscaping and mechanical upgrades. D. Michael Posten of CTMT represented the buyer; Brian Bacon, also of CTMT, will handle leasing for the remaining space.

August 19, 2009

Midwest Office

CALL CENTER SIGNS LEASE FOR 28,000-SQUARE-FOOT BUILDING

by admin August 19, 2009

ROCKFORD, ILL. — Financial Management Systems (FMS), a Schaumburg, Ill.-based call center company, has signed a long-term lease for a 28,000-square-foot office building located in Rockford. The property is situated at 4021 Morsay Dr.; it is expected to create 50 jobs immediately and as many as 350 over the next 24 months. Emmett Gray of locally based Whitehead, Inc., Realtors represented building ownership in lease negotiations. Terms of the deal were not disclosed.

August 19, 2009

Office Texas

TAX FIRM LEASES 107,890-SQUARE-FOOT OFFICE BUILDING

by admin August 19, 2009

HOUSTON — Houston-based Tax Masters Inc. has signed a lease for 2020 Dairy Ashford, a six-story, 107,890-square-foot office building in Houston. The property is part of a two-building complex located on Dairy Ashford Road. The company is relocating from its previous offices at 900 Town and Country Lane, also in Houston. CBRE’s David Hanusa and D.A. Smith of Briarhollow Realty Group represented the landlord, DAP Plaza Ltd. Terms of the lease were not disclosed.

August 19, 2009

Office Western

YOUNAN PROPERTIES ACQUIRES WARNERVIEW CORPORATE CENTER

by admin August 19, 2009

WOODLAND HILLS, CALIF. — Los Angeles-based Younan Properties Inc. has acquired WarnerView Corporate Center in Woodland Hills for an undisclosed price. Located at 5959 Topanga Canyon Blvd., the three-story, 62,000-square-foot office property is currently 93 percent occupied. Younan Properties first purchased the building in 2004 and sold it less than 12 months later to Value Home Loan. Younan Properties was self-represented in the transaction.

August 19, 2009

Office Western

OFFICE PROPERTY TRADES HANDS FOR $2.25 MILLION

by admin August 18, 2009

TIGARD, ORE. — Salem, Ore.-based City County Insurance Services has purchased a 13,563-square-foot office property, which is located at 11625-11675 S.W. 66th St. in Tigard. Lake Oswego, Ore.-based Haines Building LLC sold the property for $2.25 million. Trevor Kafoury, Jason Green and Kevin Kaufman of CB Richard Ellis represented the buyer; Chris Johnson, Charlie Floberg of Norris, Beggs & Simpson represented the seller.

August 18, 2009

Office Western

24,000-SQUARE-FOOT OFFICE SELLS FOR $2.05 MILLION

by admin August 18, 2009

TEMPE, ARIZ. — Phoenix-based Lakeshore Group has acquired Lakeshore Plaza, an office property located at 4801 S. Lakeshore Dr. in Tempe. Pardi Properties sold the property for $2.05 million. Matt Schrauth of Omni American represented the buyer; Steve Gonzalez and Rich Butler of Marcus & Millichap represented the seller in the deal.

August 18, 2009

Office Southeast

MEDICAL OFFICE BUILDING SOLD FOR $19.9 MILLION

by admin August 17, 2009

LOUDOUN COUNTY, VA. — Washington Real Estate Investment Trust has purchased the 87,400-square-foot Lansdowne Medical Office Building from an undisclosed party for $19.9 million. The four-story property is located at the intersection of Riverside Parkway and Lansdowne Boulevard in Loudoun County. Washington REIT, which has been planning to buy the building since April 2008, funded the purchase with cash and its own line of credit.

August 17, 2009

Office Southeast

GSA SIGNS LEASE FOR 94,435 SQUARE FEET OF OFFICE SPACE

by admin August 17, 2009

WASHINGTON, D.C. — The General Services Administration, on behalf of the Bureau of Land Management, has signed a 94,435-square-foot lease with Lerner Enterprises for space in the 20 M Street office building. The 190,600-square-foot 20 M Street, which has been LEED Gold certified, is located at the intersection of M and Half streets in Washington. The Bureau of Land Management will move into four floors in the building during the first quarter of next year. Studley’s Washington office represented the GSA. Brian Raher of Cushman & Wakefield’s Washington office represented the landlord.

August 17, 2009

Office Southeast

FIRM PURCHASES CORAL GABLES OFFICE CONDOMINIUM

by admin August 17, 2009

CORAL GABLES, FLA. — R.C. Chaffin Family Holdings has acquired a 4,202-square-foot office condominium from Brown Development Group for $1.56 million. Located at 500 S. Dixie Highway in Coral Gables, the space features five private offices, three executive offices and two conference rooms. Coral Gables-based Holly Sime Realty’s Randy Olen represented the buyer. John Crotty and David Metalonis of Colliers Abood Wood-Fay’s Coral Gables office represented Brown Development.

August 17, 2009

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