Office

WORMLEYSBURG, PA. — Camp Hill, Pa.-based CAMPBELL Commercial Real Estate has negotiated the sale of a 13,000-square-foot office building located at 1007 Mumma Rd. in Wormleysburg. One floor of the two-story, Class A building is occupied by Global Data; the other floor is currently vacant. Art Campbell and Derek Bicksler of CAMPBELL Commercial Real Estate represented the seller, Duquesne University. The buyer, 1007 Mumma Road LLC, was represented by Jamie Pascotti and Todd Decker of Realty Management, Inc.

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ALLEN, TEXAS — Jones Lang LaSalle (JLL) has arranged a 292,700-square-foot office lease renewal for Experian Credit Reporting Agency at 601 and 701 Experian Pkwy. in Allen. Larry Toon, Wade Clark, Ronda Clark and Bo Bond of JLL represented the tenant in lease negotiations. The landlord is Lexington Realty Trust. Terms of the lease were not disclosed.

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MONTVALE, N.J. — Gaithersburg, Md.-based DVA Architects, acting as project architect, has completed an $8 million renovation plan for an office building located at 225 Summit Ave. in Montvale. The 1960s-era building was the former divisional headquarters of Toys ‘R’ Us. Renovations included the addition of 15,000 square feet of office space, bringing the building to a total of 142,000 square feet. The building’s vertically ribbed, precast panel façade was replaced with a new skin consisting of rusticated, insulated, glass-fiber reinforced, concrete panels framed with 4-inch steel studs. The single-glazed, punched windows were replaced with high-performance, double-glazed windows. In addition, the lobby was converted to a two-story space, with the new glass and stainless steel staircase as the focal point. The building’s existing mechanical systems were upgraded, and overgrown exterior landscaping was removed to emphasize the new building façade. The upgrade elevated the office building from Class C to Class A status. As a result of the renovation, the building’s owner, Paragon/Ivy Realty JV, was able to lease the entire facility to Barr Pharmaceuticals on a long-term basis.

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CALABASAS, CALIF. — DTS Inc. has acquired a three-story, 85,948-square-foot office building, which is located at 5220 Las Virgenes Rd. in Calabasas. Built in 1999, the multi-tenant property was valued at $15.64 million. The property features 347 parking spaces, an on-site gym, locker rooms and showers, outdoor patios and a cafeteria. Carlo Brignardello and Mathew Miller of Cresa Partners represented the buyer; Gary Weiss and Lynwood Fields of Madison Partners represented the seller, Countrywide Home Loans Inc., in the transaction.

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NEW YORK CITY — Construction is under way for the first phase of the Alexandria Center for Science and Technology at East River Science Park, a 3.5-acre office and laboratory park located in New York City. Phase I construction will consist of a 16-story, 319,405-square-foot office/laboratory tower. The campus will ultimately contain 1.1 million square feet of office and lab space. The project will also feature one acre of green space with views of the East River. Alexandria Center is applying for LEED certification from the U.S. Green Building Council. The project is being developed by ARE-East River Science Park LLC. Cushman & Wakefield has been named exclusive leasing agent for the project.

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SAN DIEGO — The Challenged Athletes Foundation has acquired a 14,485-square-foot office building, which is located at 9591 Waples in San Diego’s Sorrento Mesa area. The two-story, Class B building sold for $1.66 million during a public auction. The building will house the organization’s headquarters, the Challenged Athletes Hall of Fame, a multi-purpose room, donor recognition walls and a specialized athletic facility with adaptive equipment. Funding for the acquisition was provided by Qualcomm Million Dollar Challenge, and Deni and Jeff Jacobs. Josh Burland of CB Richard Ellis represented the buyer; the seller, WT Lender Services as trustee for Wells Fargo, was self-represented.

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ORLANDO, FLA. — All Roads has purchased an 8,426-square-foot office building and 31,886 square feet of land from Mid-Florida Pools for $1.03 million. The property is located at 714 Franklin Lane in Orlando. Greg Morrison of Orlando-based Morrison Commercial Real Estate represented the buyer, and Colliers Arnold’s Trevor Hall represented Mid-Florida Pools.

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CARROLLTON, TEXAS — Dallas-based Henry S. Miller Commercial (HSMC) has brokered the purchase of a 5,349-square-foot office property located at 3452 Forest Lane in Carrollton. The property, known as Building 300, was acquired by Farmers Branch, Texas-based Dina King Ventures, which plans to use the facility as a new office for its insurance business. Daniel Harris of HSMC negotiated the transaction on behalf of the buyer. The undisclosed seller was represented by Andrew Schendle of The Weitzman Group.

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