SAN MARCOS, CALIF. — Windsor Properties has purchased the Discovery Bank Building, which is located at 338 Via Vera Cruz in San Marcos. Situated on a 1.63-acre site, the two-story, 27,391-square-foot property sold for $8.5 million. Main tenants include Discovery Bank and State of California. Harry Stone of Voit Commercial Brokerage represented the seller, San Marcos Building LLC, in the transaction; Hamann Properties represented the buyer.
NILES, ILL. — Skokie, Ill.-based The Missner Group has completed two tenant build-outs within the 400,000-square-foot Howard Industrial Center, which is located at 6420 W. Howard in Niles. On behalf of Energy Volleyball Club, The Missner Group has completed construction on 20,000 square feet of space. The project included the build-out of 1,000 square feet of office space, four volleyball courts, as well as a viewing and concession area. Additionally, The Missner Group has completed the build-out of Twin Med LLC’s 30,000 square feet of space within the industrial park. Features of the build-out include 2,000 square feet of executive offices, a conference room and break room, and a new dock position for the 28,000-square-foot warehouse. The cost of completion was not disclosed.
RIVERSIDE, CALIF. — Newport Beach, Calif.-based Turner Development Corp. has completed the construction of Medical Park at Riverside, a two-phase medical office complex located at 4234 and 4224 Riverwalk Parkway in Riverside. The project consists of two Class A medical office buildings totaling 66,000 square feet and offering offices ranging in size from 1,000 to 19,500 square feet.
TAMPA, FLA. — Hardin Construction Co. will design and construct the 7,500-square-foot Tampa International Airport IT Operations & Data Center at the Tampa airport for the Hillsborough County Aviation Authority. When complete in the fall of 2009, the property will serve as the main communications hub and house server and monitoring rooms, administrative offices, work and training spaces and a conference room. Tampa-based Urban Studio Architects will provide design services. Construction is planned to start in February 2009.
STAMFORD, CONN. — The New York office of Jones Lang LaSalle has negotiated a 310,000-square-foot direct lease at the Long Ridge Corporate Center campus in Stamford. Located at 120 Long Ridge Rd., the office building will be fully occupied by General Reinsurance Corp. (GRC), which signed a 20-year agreement. GRC is set to occupy the building in late 2009, when it will relocate from its current headquarters in the Financial Centre building at 695 E. Main St. in Stamford. The Long Ridge Road property will be renovated and modernized once the lease expires in December for the building’s current tenant, General Electric Corp. The tenant was represented by Brian Higgins, Jay Koster and Chris Kraus of Jones Lang LaSalle. The landlord, Building & Land Technology, was represented in-house by Carl Kuehner and Paul Kuehner.
NEW YORK CITY — New York City-based Time Equities has sold a 4,865-square-foot office condominium, located at 125 Maiden Lane in New York City, for $2.4 million. NY Commercial Press acquired the property, and plans to relocate there from its current Midtown, Manhattan, location this month. Michael Rudder provided in-house representation for Time Equities. The buyer was represented by Patrick Dugan and Vincent LaManna of CB Richard Ellis.
HOUSTON — Seismic Exchange has announced plans to construct an additional building for its headquarters at Westway Park, a 150-acre business park developed by Wolff Companies that is located in Houston. Seismic had already acquired the adjoining 2.4 acres, and will construct of a five-story, 72,400-square-foot office building at 11050 Capital Park Dr., as well as an accompanying five-story parking garage. The new structure is scheduled for completion in March 2009, and will be fully occupied by Seismic Exchange. The company will also be seeking LEED certification for the project. Powers Brown Architecture served as project architect, and Rosenberger Construction is completing the build.
SANTA CLARITA, CALIF. — A joint venture between Parker Properties and RREEF Alternative Investments has developed Summit Oaks, a Class A office property located at 28515 Westingthouse Place in Santa Clarita. Situated within the master-planned community of Valencia, the five-story, 144,000-square-foot building offers flexible, 28,000-square-foot floor plates, first-class commons areas and a ground-floor lobby with a two-story atrium. The approximately $45 million facility offers immediate access to Interstate 5 and Highway 126. Snyder Langston served as general contractor for the project, which is seeking LEED-Silver certification.
PHOENIX — California-based Fenway Properties has purchased Camelwest Plaza, a 173,388-square-foot office development located at 1951 and 2001 W. Camelwest Rd. in Phoenix. The property, which includes two four-story buildings and two three-story parking garages, sold for $9.5 million. At the time of acquisition, the property was 70 percent occupied. Koll Bren Fund V, managed by Newport Beach, Calif.-based Koll Bren Schreiber Realty Advisors, sold the property. Trevor Klinkhamer, Ray Harris and Alissa Leon of Grubb & Ellis|BRE Commercial, along with former Grubb & Ellis|BRE brokers Dennis Desmond and Nathan Thinnes represented the seller. Mark Lucescu of Newport Beach-based Lucescu Realty also represented the seller in the transaction. The buyer was self-represented.
COLUMBUS, OHIO — Alterra Real Estate Advisors has brokered the sale of The Cliffs office building, which is located at 2323 West Fifth Ave. in Columbus. The 118,000-square-foot office facility was acquired by 2323 Realty Group LLC of Bloomfield Hills, Mich., for $5.3 million. Citizens Bank sold the building, which was 86 percent leased at the time of the sale. Ross Lanford of Alterra represented the seller; Alan Stern of ICI Property Consultants represented the buyer in the transaction.