IRVINE, CALIF. — Shorenstein Properties LLC, on the behalf of Shorenstein Realty Investors Nine LP, has acquired Main Plaza, a 607,056-square-foot Class A office complex located near John Wayne Airport in Irvine. Built in 1988, the complex consists of twin 12-story office towers, two restaurants and a six-level parking structure. At the time of acquisition, the property was 70 percent occupied with tenants such as Lawyers Title Insurance, Balboa Capital Corp., Greenberg Farrow and Stewart Title Co. Eastdil Secured represented the seller, Los Angeles-based Maguire Properties, in the transaction. The transaction price was not disclosed.
Office
CARLSBAD, CALIF. — Danielson DSS is developing a two-story office building for ViaSat Inc. in Carlsbad. Located at 2530 Campbell Pl. within Bressi Ranch Corporate Center, the 40,000-square-foot building will feature multiple offices and seven large manufacturing labs. Ledcor Construction Inc. is serving as general contractor for the project, which is slated for completion in February 2009. Smith Consulting Architects provided architectural services for the project.
CARLSBAD, CALIF. — Bressi Ranch Medical Plaza LLC has secured financing for the construction of a two-story, for-sale medical office building at 6221 Metropolitan St. in Carlsbad. Bressi Ranch Medical Plaza, the 19,776-square-foot property, is slated for completion in spring 2009. Approximately 45 percent of the office suites have been pre-sold to professional medical groups. Smith Consulting Architects provided architectural services for the project, while Pacific Building Group is serving as general contractor. Paul Conzelman of Bridgeport Investments arranged the financing, which was provided by Newport Beach, Calif.-based Cal National Bank.
ORLANDO, FLA. — Indianapolis-based HDG Mansur Investment Services has purchased a 106,440-square-foot office building, located at 2290 Premier Row in Orlando, from Symcor for an undisclosed amount. The property will retain its current function as a processing center. The transaction was brokered by CB Richard Ellis employees in the Orlando, New York and Toronto.
WAUWATOSA, WIS. — NAI MLG Commercial has brokered the sale of two 36,000-square-foot office facilities, which are located at 12000 and 12100 West Wirth St. in Wauwatosa. Outlook Wirth LLC has acquired the buildings from JMC Properties LOC 130 LLC for $5.7 million. Stephen Provancher of NAI MLG Commercial represented both parties in the transaction.
NEW YORK CITY – Construction has topped out for a 30,000-square-foot, boutique medical office condominium building, located at 429 E. 75th St. on the Upper East Side of Manhattan, New York City. The art deco building was originally a carriage house before later being turned into a parking garage. Current construction involved gutting the interior and adding three stories to the building, bringing it to a height of six stories. The project will be able to accommodate high-tech imaging and lab facilities, and will include a back-up power generator and two passenger elevators, one of which will be able to accommodate gurneys. The project is also seeking LEED certification from the U.S. Green Building Council. Completion is expected in December. Taconic Investment Partners and ABR Partners are developing the project. Murphy Burnham & Buttrick designed the project, with Ball Construction serving as construction manager. Paul Wexler of Corcoran Wexler Healthcare Properties is serving as exclusive sales agent.
SAN DIEGO — San Diego-based Sharp Healthcare has signed a 10-year, approximately $2.6 million lease renewal for 6,987 square feet of medical office space located at 12710 Carmel Country Rd. in San Diego. Sharp Healthcare will continue to operate its Sharp Rees-Stealy Medical Group Carmel Valley/Del Mar office at the facility. The lessor, Carmel Country Plaza LP, was represented in-house; the lessee was represented in the transaction by James Laing and Daniel McCarthy of Cushman & Wakefield’s San Diego office.
NORTHBROOK, ILL. — J.F. McKinney & Associates and Kogen Zivin Friedman Development have completed two office sales in their RiverPark office condominium project, which is located at 1400-1486 Techny Rd. in Northbrook. The development, which is comprised of seven single-story buildings, houses offices ranging in size from 1,500 to 10,000 square feet. Gordon Segal, the retiring CEO of Crate & Barrel, has purchased a 7,500-square-foot office building within RiverPark, which is situated adjacent to the Crate & Barrel headquarters. Charlie Portis of J.F. McKinney & Associates represented Kogan Zivin Friedman Development in the transaction. The office, which is being sold as a shell, will be used for Segal’s Prairie Management Group. Additionally, Chicago-based law firm Atkinson & Atkinson has acquired a 3,000-square-foot office condominium within RiverPark. The firm is relocating from its former offices in downtown Evanston, Ill. Stevie Sims of Coldwell Banker represented the buyer; Portis of J.F. McKinney & Associates represented the owner in the transaction. The acquisition price was not disclosed.
BOSTON — Boston-based American Realty Capital has closed on the purchase of 39 of the more than 100 surplus bank branches it is set to acquire from Wachovia over the next year. The 39 vacant bank branches were purchased for more than $53 million. Of the properties already acquired, 15 have been sold, primarily to financial institutions, and four will be leased to banks.
SUDBURY, MASS. — Woburn, Mass.-based Cummings Properties is developing a 63,000-square-foot speculative office building at 144 North Rd. in Sudbury. Situated within Cummings’ North Road campus, the building is situated adjacent to the Frost Farm conservation area. The project is striving for LEED certification from the U.S. Green Building Council. It is scheduled for occupancy in the fall, and can accommodate tenants from 600 square feet.