ADDISON, TEXAS — KBS Real Estate Investment Trust has acquired Millennium Tower, a 14-story, Class A office tower located 15455 N. Dallas Pkwy. in the Dallas suburb of Addison. Situated on 3.34 acres, the property includes the 353,461-square-foot building, as well as a six-level parking garage. The building features a café, a bank and property management offices. It is currently 87 percent leased to a tenant roster that includes Dresser Inc., SAS Institute, UnumProvident Corp., and HBO Time Warner. KBS acquired the property from San Francisco-based RREEF North America for an undisclosed price. Bill Rogalla provided in-house representation to KBS; Gary Carr and Russell Ingram of CB Richard Ellis’ Dallas office represented the seller. Kim Brooks and Matt Didyk of Transwestern Commercial Services’ Dallas office will handle leasing of the remaining space in the tower; Dallas-based PM Realty Group will manage the property.
HOUSTON — Houston-based American Spectrum Realty (ASR) has acquired a two-building office complex located in the Uptown Galleria submarket of Houston. The properties include Westheimer I, a four-story, 90,123-square-foot office building located at 2640 Fountain View; and Westheimer II, a four-story, 87,953-square-foot building located at 2650 Fountain View. The two properties are situated on 6.28 acres. ASR provided in-house representation in the transaction. The seller, Laguna Hills, Calif.-based Foremost Fountainview, was represented by Alan Pekarcik and Dan Vittone of the Irvine, Calif., office of Voit Commercial Brokerage, and Darrell Betts of the Houston office of Grubb & Ellis.
PASADENA, CALIF. — Los Angeles-based IDS Real Estate Group has completed the $2.8 million renovation and restoration of 80 South Lake Avenue in Pasadena. The eight-story building offers 71,500 square feet of office space. The company restored and upgraded the building to Class A standards by renovating the exterior, the parking structure, building lobby, exterior landscaping, common areas and restrooms. Additionally, IDS rehabbed the interior corridors with architectural photographs collected from the Pasadena Museum of History. Several design firms worked on the project, including Los Angeles-based Wirt Design, Pasadena-based SKA Design and Culver City, Calif.-based LRM Landscape Architecture. Ontario, Calif.-based Jaska Building Systems served as general contractor. The building is currently 95 percent occupied by a variety of tenants such as Wells Fargo Bank, Starbucks Coffee and E-Z Delta.
PHOENIX — Phoenix-based ViaWest Properties has completed the sale of an 18,000-square-foot office/industrial building in Phoenix. CAS Real Estate Inc. purchased the property for $2.1 million. Located at 3725 E. Atlanta Ave., the property was purchased by ViaWest in 2006. Ken McQueen of Lee & Associates brokered the transaction.
BRAINTREE, MASS. — New Boston Fund has acquired Granite Woods Corporate Center, a two-building, 168,218-square-foot office property located in Braintree. Situated on 7.5 acres, the property includes the 83,578-square-foot Building 1 and the 84,639-square-foot Building 2, which is built on top of two levels of decked parking. The two buildings are connected by a skyway. The property is 100 percent occupied by a tenant roster that includes Verizon Communications, Travelers Insurance, VNA of Boston and the Telephone Worker’s Credit Union. New Boston Fund provided in-house representation. The seller, Campanelli Cos., was represented by Peter Joseph, James McCaffrey and Chris Phaneuf of Eastdil Secured. The acquisition price was not disclosed.
TEXARKANA, TEXAS — The Cirrus Group has acquired a 31,600-square-foot medical office building located at 1902 Moores Lane in Texarkana. The facility is situated adjacent to the Christus St. Michaels Health System Campus. Collom and Carney Clinic Association will continue to lease space on the first floor of the building. The Northeast Texas Surgery Center will relocate to the second floor of the building from its previous location at 1801 Galleria Oaks Dr. The acquisition price and the seller were undisclosed.
SAN DIEGO — The Corky McMillin Companies recently broke ground for the development of a 104,397-square-foot Class A office building, which is located within the 360-acre Liberty Station mixed-use project in San Diego. Located on Decatur Road in the Lincoln Station Office District, the three-story Building 902 will feature open floor plates, a two-story lobby and two third-floor balconies with panoramic bay and downtown views. Designed by KMA Architecture & Engineering, the property is expected to achieve LEED certification. Green elements utilized in the project include water efficient fixtures to reduce water usage by 30 percent, fossil filter inserts for storm water quality control, roof slope and finishes to reduce heat island effect, and locally sourced materials to reduce environmental effects of processing and transportation, Additionally, 10 percent of all construction materials will be from recycled sources. Completion is slated for summer 2009. BYCOR General Contractors is overseeing the construction of Building 902. Don Mitchell, Scott Kincaid and Jill Morton of CB Richard Ellis are the exclusive leasing agents for the building.
WILDOMAR, CALIF. — San Clemente, Calif.-based Consolidated Contracting Services Inc. is constructing a 95,000-square-foot facility for Southern California Edison. Located on a 17-acre site in Wildomar, the project will feature a 64,000-square-foot administration building and a 13,000-square-foot garage building with a designated truck repair and wash rack area. Additionally, the project will offer six overhead steel canopies totaling 60,000 square feet of parking and storage space. Other site improvements include a parking lot, site walls, hardscape and artistic landscaping. Designed by Richard Yen & Associates, the project is seeking LEED Gold certification. Green elements include photovoltaic panels on the rooftop of the truck-parking canopy to lower electricity costs. Green Building Services is serving as a green consultant for the project; Hope Engineering is providing structural engineering services; C&C Engineering Inc. is serving as civic engineer; Walsh Engineers is providing electrical and mechanical engineering services; and Sweeny and Associates is serving as landscape architect. Completion is slated for February 2009.
LAS VEGAS — Capovilla Management has developed MacFarlane Medical Office Building in Las Vegas. Located at 8352 W. Warm Springs Rd., the three-story, 42,000-square-foot facility features covered parking and lush landscaping. Construction costs for the project were approximately $6.3 million. SR Construction provided design/build services for the project, and Moser Architecture Studio provided architectural services.
TINLEY PARK, ILL. — Len Caldeira and Conor Mullady of The Staubach Company’s Chicago Land Services Team have represented private landowners in the sale of 52 acres located in the southeastern sector of Interstate 80 and 80th Avenue in Tinley Park. The buyer, global wiring and communications applications manufacturer Panduit Corp., was represented by Longwood Real Estate Co. Panduit plans to build an office headquarters on the land, which is currently the site of the Windy City Campground. The acquisition price was undisclosed.