Office

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.

ITASCA, ILL. — HSBC-North America is planning to construct a 304,000-square-foot building in Itasca to for a new corporate facility, which will consolidate HSBC’s five existing locations in suburban Chicago. Construction is expected to begin in the fall, with occupancy slated for the third quarter of 2010. Elaine Melonides, Dan McCarthy and Meredith O’Connor of Jones Lang LaSalle negotiated the 15-year build-to-suit lease. The Itasca development is the second phase of HSBC’s plan to consolidate nine of its facilities. Jones Lang LaSalle also worked with HSBC on the first phase of development, which included the company’s new 550,000-square-foot North American headquarters in Mettawa, Ill.

ROYAL OAK, MICH. — Signature Associates, a member of the Cushman & Wakefield alliance, has brokered the sale of a 152,562-square-foot office facility located at 400 West Fourth St. in Royal Oak. John Gordy and Garrett Keais of Signature Associates represented the seller, National City Bank, and the buyer, Howard & Howard Attorneys, in the transaction. National City Bank, which leased back approximately half of the facility for a 10-year term, sold the building for an undisclosed amount. Howard & Howard Attorneys is planning to move its Bloomfield Hills, Mich., office to the remainder of the building.