DANVILLE, CALIF. — Berkley Land Company has purchased an office property for $5.7 million. The 14,854-square-foot property is located at 600 San Roman Valley Blvd. in Danville. Tyler Brown of Lee & Associates represented the seller, Danville Investors LP, in the transaction.
CORAL GABLES, FLA. — Sunset I Ventures has sold Park Place I and II, two adjacent buildings in Coral Gables, to Kenneth D. Rosen of Kendar Realty for $8.5 million. The properties encompass 49,469 square feet of office space. Park Place I, located at 1500 Monza Ave., houses three tenants, including Baptist Health South, which leases 70 percent of the building. Park Place II sits at 1501 Venera Ave. and has nineteen tenants. Both buildings are 100 percent occupied.
NEW YORK CITY — San Francisco-based Shorenstein Properties has selected New York City-based Aragon Properties to complete nine pre-built office suites totaling 47,000 square feet at two of its midtown Manhattan office buildings. The majority of work will take place at 850 Third Avenue, Shorenstein’s 21-story office tower. Aragon will build out five units on the 16th floor that will total 23,400 square feet and range in size from 3,300 to 6,900 square feet. Completion is scheduled for July. In April, Shorenstein delivered three built-out suites on floors 10 and 21 of the same building. Each of the pre-built suites will feature a reception area, an open area for workstations, at least one conference room and a minimum of four private offices. The spaces are designed to appeal to a wide range of tenants and when leases are signed, Shorenstein will order modifications of the spaces to suit the tenant’s needs.
EMERYVILLE, CALIF. — Hollis Street LLC has acquired a 55,000-square-foot office building, which is located at 5650 Hollis Street in Emeryville. The property, which is 100 percent leased to Bayer Pharmaceuticals, sold for $17 million or $309 per square foot. Barry Cohn of NAI BT Commercial Oakland represented the buyer in the transaction. The seller was Emeryville Quarters LLC.
SAN DIEGO — Locally-based Johnson & Jennings General Contracting has been selected to provide tenant improvement (T.I.) construction for Konica Minolta’s new offices, which are located at 5959 Cornerstone Court W. in the Sorrento Mesa area of San Diego. TA Associates Realty retained Johnson & Jennings for the 25,479-square-foot project, which is slated for completion this spring. Hurkes Harris Design Associates is providing architectural services for the project.
CHICAGO — Hoffman Estates, Ill.-based Leopardo has completed a 40,000-square-foot office expansion and renovation of the corporate headquarters of Envestnet. The wealth advisory company is located at the Jewelers Building at 35 E. Wacker Dr. in Chicago. The company’s new offices, which take up a one-and-a-half floors of the building, feature high-end finishes such as French limestone and organic French Walnut-veneered wall panels and pivot doors, red oak stained parquet wood flooring and full-height interior glass partitions. Leopardo served as the general contractor, with Baumann Studios providing architectural services.
PITTSBURGH — Renovation is underway on the C.I. Applegate Building, formerly known as 225 Ross Street, in Pittsburgh. After purchasing the building in February, developer Dominic Applegate of Applegate Snayd Industries, renamed the building and began an extensive renovation. The 26,000-square-foot building features six stories of office space and nearly 4,700 square feet of street-level retail. Jared Imperatore, the retail brokerage and leasing manager spearheading the property’s marketing and J.R. Yocco of Grant Street Associates have already executed lease agreements with Subway and Crazy Mocha Coffee Company for the building’s first-floor retail space. The renovation will include new signage, awnings, outdoor seating areas and a garage door that will open the Crazy Mocha location to the retail storefront on Third Avenue. Additional upgrades include power washing of the exterior brick and adding window flower boxes and large stationery flower pots near the entrances to each retail space. Crazy Mocha and Subway are slated to open in late summer.
LIVINGSTON, N.J. — Adam Silver and Wayne Kasbar of Grubb & Ellis have negotiated a 153,030-square-foot lease on behalf of Verizon New Jersey. The company will be taking space at Eisenhower Corporate Campus, which is located at 290 West Mt. Pleasant Ave. in Livingston. To meet certain parking requirements, a 400-car parking garage was built by the owner, Eastman Companies, for Verizon at the new location. Furthermore, the building has access to public transportation and nearby amenities, which accomplished Verizon’s objectives.
WALTHAM, MASS. —Davis Marcus Partners, a venture between Marcus Partners and The Davis Companies, in partnership with Prudential Real Estate Investors, has completed a $30.9 million refinancing with Capital One for 117 West St. located on its Reservoir Woods East campus in Waltham. The refinancing includes both the 138,000-square-foot recently upgraded building and the adjacent 500,000 square feet of recently permitted, developable land. The building is fully leased to Verizon and houses its FiOS testing, design and engineering functions. Together, Reservoir Woods East and West provide a campus environment with 120-acres of wooded landscape in Waltham between the Massachusetts Turnpike and Route 2 at exit 27 off Rt. 128/US I95.
GRAND PRAIRIE, TEXAS — Arlington, Texas-based SCM Real Estate has brokered a new lease at Brookhollow Riverside, a Class A office property located in Grand Prairie. Lea+Elliott will occupy 8,200 square feet of the 118,131-square-foot building, which is located 2505 N. State Highway 360. SCM’s Theron Bryant represented the undisclosed landlord. The tenant was represented by Bryan Graham of CB Richard Ellis. Terms of the lease were not disclosed.
