BROWN DEER, WIS. — Siegel-Gallagher Inc. has brokered the sale of a 38,442-square-foot office facility located at 9275 N. 49th St. in Brown Deer. Crabel Real Estate Partners acquired the facility from Deerfield Service Center for an undisclosed amount. John Dulmes, Daniel Walsh and Jack Arnett of Siegel-Gallagher arranged the transaction.
NEW YORK CITY — Construction is advancing for a 15-story office tower located at 450 W. 14th St. in the Meatpacking District of Manhattan, New York City. The project consists of a 10-story glass tower that sits atop a five-story former cold storage warehouse. Additionally, the High Line, a former elevated rail track that is presently being redeveloped into a public park, travels through the former warehouse. Once the office project is complete in the first quarter of 2009, it will include 114,500 square feet of office space, as well as 8,022 square feet of ground-floor retail space and 6,000 square feet of lower-level retail space. The office tower is being developed by CB Developers, with Morris Adjami Architects serving as project architect. Kelly Gedinsky of Winick Realty is serving as exclusive leasing and marketing agent for the retail space.
ALISO VIEJO, CALIF. — TechSpace, a full-service facilities and infrastructure provider delivering flexible office space and IT services, has signed a long-term lease with RREEF for its operations at 65 and 75 Enterprise in Aliso Viejo. The transaction was valued at $25 million. TechSpace will occupy the facility through 2017. The company is planning significant improvements to the property including upgrades to the café and common areas. Additionally, the company will reconfigure office space suites to meet the needs of its clients.
CARY, N.C. — Raleigh, N.C.-based Rex Healthcare has purchased a 20-acre parcel from Sun Life Financial and Charlotte, N.C.-based developer Lincoln Harris for the construction of a 150,000-square-foot medial office property. The site is located at the intersection of N.C. Highway 55 and McCrimmon Parkway in Cary. The multi-building development will be part of the Panther Creek mixed-use project and is expected to deliver by the summer of 2010.
ALPHARETTA, GA. — On the behalf of tenant-in-common investors, Grubb & Ellis Realty Investors has sold the four-building, 235,000-square-foot business park Great Oaks Center in Alpharetta to KBS Great Oaks LLC for an undisclosed amount. Built in 2000, the property is situated on 22 acres of land and features 516 on-site parking spaces. Cushman & Wakefield of Georgia’s Stewart Calhoun and David Meline represented the seller.
LONGWOOD, FLA. — Jeffrey Bloom and Suzanne Huskey Hedrick of Coldwell Banker Commercial NRT’s Maitland, Fla., office have brokered the sale of the Estate of E. Everette Huskey’s 9,500-square-foot office building to 100 Plus LLC for $1.6 million. The property is located at 1000 Wekiva Springs Rd. in Longwood.
MILWAUKEE — Milwaukee-based RFP Commercial has brokered the sale of 80,525 square feet of office space located at 433 E. Michigan St. in Milwaukee, as well as an adjacent parking lot located at 517 N. Jefferson St. Milwaukee Acquisition Partners LLC has acquired the approximately $3.14 million property from 433 E. Michigan LLC. Bob Flood and Jim Cavanaugh of RFP Commercial represented the seller in the transaction.
MORRIS COUNTY, N.J. — Bedminster, N.J.-based Advance Realty Group has completed construction of the first building at Picatinny Applied Research Campus (PARC), a high-tech office/research park located on the grounds of the 6,500-acre Picatinny Arsenal in Morris County. The 27,500-square-foot, single-story flex building is part of the initial phase of PARC, which will feature 100,000 square feet of office and lab space. At full build-out, PARC will contain approximately 1.1 million square feet of office, laboratory and flex space. Additionally, Alliant Techsystems has signed on as the first tenant at the new building.
BREINIGSVILLE, PA. — Philadelphia-based MRA Group has signed a 228,600-square-foot lease at the developer’s TEK Park office campus in Breinigsville. DBSi will construct and occupy a 228,600-square-foot, build-to-suit data center within the campus. Construction us currently underway, with completion of the first phase scheduled for late fall. TEK Park has the capacity to support Tier III and Tier IV data center operations, and features six 2,000-kilowatt generators that can provide 5 days worth of back-up power to the campus in case of an outage.
ROSSLYN, VA. — New York City-based Monday Properties will develop a 580,000-square-foot, 35-story office tower in Rosslyn, with expected delivery in 2011. Located at 1812 N. Monroe St., the building will be constructed to Platinum LEED specifications. Monday purchased the site last year and demolished the existing property, an 11-story office building, in July.