Office

OSI PHARMACEUTICALS PURCHASES ARDSLEY PARK TECH CENTER

by admin August 17, 2009

ARDSLEY, N.Y. — Biotech firm OSI Pharmaceuticals has acquired Ardsley Park Science & Technology Center, located at 410-460 Saw Mill Rd. in Ardsley, for $27 million. The 43-acre campus contains six buildings with 400,000 square feet of office, laboratory and manufacturing space, as well as specialty pharmaceutical installations. It was constructed in 1956 and was most recently occupied by Purdue Pharma, which vacated the property in 2005. OSI plans to use the campus as its new corporate headquarters and will consolidate its operations in Melville and Farmingdale, N.Y.; Cedar Knolls, N.J.; and Boulder, Colo., into the new campus. Tom Giannone, Chris, Kinum, Ron Ganter and John Cahill of Cushman & Wakefield’s Global Life Science Practice Group, along with Andrew Mervin, David Bernhaut, Gary Gabriel and Jose Cruz of the firm’s Metropolitan Area Capital Markets Group, represented the seller, Purdue Pharma.

August 17, 2009

BUCHANAN STREET PARTNERS PROVIDES $10 MILLION OFFICE MEZZANINE LOAN

by admin August 17, 2009

HARTFORD, CONN. — Buchanan Street Partners has provided a $10 million, non-recourse mezzanine loan for City Place I, a Class A office building located in Hartford. The tower rises 38 stories and contains 885,000 square feet of space. United Healthcare recently signed a new lease at the building and several existing tenants renewed or expanded their leases, which will bring occupancy up to 93 percent. The mezzanine loan was taken out by the borrower to help fund tenant improvements, leasing commissions and operating expenses while occupancy stabilizes. Terms of the loan were not released.

August 17, 2009

Office Texas

NAI CRAVEY TO LEASE SKYSCRAPERS

by admin August 17, 2009

CORPUS CHRISTI, TEXAS — The team of Weldon Dietze, Melissa DeLeon, Terrell Miller and Matthew Cravey of Corpus Christi-based NAI Cravey Real Estate Services have been selected to lease One Shoreline Plaza in Corpus Christi. Located at 800 N. Shoreline Blvd. overlooking Corpus Christi Bay, the two Class A office buildings total 363,302 square feet. The south tower is the state’s tallest building south of San Antonio.

August 17, 2009

Office Southeast

150,000-SQUARE-FOOT OFFICE ON TRACK FOR FALL 2010 COMPLETION

by admin August 14, 2009

DORAL, FLA. — Flagler is aiming for a fall 2010 completion of its 150,000-square-foot office building at 8333 Downtown Doral in Doral. The building, which is located in the 120-acre mixed-use project, Downtown Doral, is 30 percent preleased by the Florida Agency for Health Care Administration. The project has been designed by HuntonBrady Architects to meet LEED Gold standards.

August 14, 2009

Office Southeast

REIT PURCHASES 124,500-SQUARE-FOOT OFFICE PROPERTY

by admin August 14, 2009

ORLANDO, FLA. — CB Richard Ellis Realty Trust has purchased a 124,500-square-foot office building from an undisclosed party for an undisclosed amount. The property, which is located at 12650 Ingenuity Dr. in Orlando, is fully leased to Kaplan’s higher education division. Built with a self-contained data center room with a redundant power supply, the property also includes a cafeteria. CB Richard Ellis Realty Trust and CB Richard Ellis Investors’ Jeffrey Torto worked to purchase the building.

August 14, 2009

Office Southeast

OFFICE BUILDING SOLD TO ORLANDO FIRM

by admin August 14, 2009

ORLANDO, FLA. — Orange Crown Holdings of Orlando has purchased the 19,136-square-foot Semoran Park office building from Orlando-based Semoran Park Condominiums for $2 million. The Class A property is located at 1277 N. Semoran Blvd. in Orlando. The building is 72.6 percent leased and houses tenants including Semoran Park Family Physicians and Semoran Law Center. Jay Dixon and Jerry Thornbury of Grubb & Ellis|Commercial Florida’s Orlando office brokered the sale.

August 14, 2009

Office Western

VOIT REAL ESTATE SERVICES BROKERS $11.3 MILLION OFFICE BUILDING SALE

by admin August 14, 2009

SANTA ANA, CALIF. — Grubb & Ellis Realty Investors has completed the $11.3 million disposition of a 105,199-square-foot office building, which is located at 901 Civic Center Dr. W. in Santa Ana. The four-story Class B office property is 70 percent leased to a majority of government entities, including the Federal Bureau of Investigations, the Orange County District Attorney’s office and the Public Defender’s office. Dan Vittone, Al Pekarcik and Gil Marrero of Voit Real Estate Services represented the seller. Tim Nguyen of NAI Capital represented the undisclosed buyer.

August 14, 2009

Northeast Office

JLL BROKERS 64,788-SQUARE-FOOT OFFICE LEASE AT ONE ASTOR PLAZA

by admin August 13, 2009

NEW YORK CITY — Jones Lang LaSalle (JLL) has completed a lease for 64,788 square feet of office space at One Astor Plaza, a 1.9 million-square-foot office tower located at 1515 Broadway in Manhattan, New York City. Engineering firm Syska Hennessey Group will occupy the space, which represents the entire 14th and 15th floors, for a 15-year term under a direct lease. It is relocating from its previous offices at 11 W. 42nd St. Peter Riguardi and Cynthia Wasserberger of JLL represented the tenant in lease negotiations. Frank Doyle and David Kleiner, also of JLL, represented the landlord, SL Green Realty Corp. Syska Hennessey plans to pursue LEED certification for the new office space.

August 13, 2009

Office Western

10,100-SQUARE-FOOT OFFICE BUILDING ACQUIRED FOR $4.25 MILLION

by admin August 13, 2009

LOS ALAMITOS, CALIF. — KZ DevCo has purchased a 10,100-square-foot office building in Los Alamitos for $4.25 million. The company plans to redevelop the property, which is located at 3401 Katella Ave., into a CVS/pharmacy. Construction will begin in September with completion scheduled for May 2010. Vincent Roche with CB Richard Ellis represented the buyer; David Cox of Cox Commercial represented the seller, Tipton Family Trust.

August 13, 2009

Office Western

CHARLES DUNN CO. COMPLETES $14.4 MILLION LEASE

by admin August 13, 2009

LOS ANGELES — The General Services Administration (GSA) has inked a $14.4 million lease transaction at 606 S. Olive St. in Los Angeles. The deal will expand the Federal Government’s Executive Offices of Immigration Review (EOIR) office space to 72,210 square feet. The EOIR now occupies five-and-a-half floors of the City National Bank Building. John Anthony of Charles Dunn Co. brokered the transaction. The landlord is 606 Olive LLC.

August 13, 2009

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