WINTER PARK, FLA. — DHI Realty Holdings has acquired the Cascades Executive Center, a 2.3-acre, 39,586-square-foot office building in Winter Park, from Mr. Frank Marsico, for $5.5 million. The property is located at 11890 State Road 436. Joseph Rossi and Bret Felberg of Grubb & Ellis | Commercial Florida represented the buyer, and the seller was represented by John Roper of John J. Roper Co.
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SECAUCUS, N.J. — AXA Equitable has leased 100,000 square feet of office space at Hartz Mountain Industries’ Harmon Meadow Complex in Secaucus. Located at 500 Plaza Dr., Harmon Meadow contains 3.5 million square feet of commercial space, more than 10 restaurants, seven hotels, the Meadowlands Exposition Center, an office park and retail.
NEW YORK CITY — SL Green Realty Corp. has negotiated an 83,822-square-foot lease at 1185 Avenue of the Americas in Manhattan, New York City. News America Inc. will occupy floors 25 through 27 as part of the 12-year lease. The lease brings the 42-story, 1.1 million-square-foot tower to a 99 percent occupancy level. David Levinson and David Berkey of L&L Holding Co. represented the tenant, and Howard Tenenbaum and Gary Rosen of SL Green represented the REIT in-house.
THE WOODLANDS, TEXAS — The Woodlands Development Company (TWDC) is developing 4 Waterway Square, a 216,000-square-foot, Class A office building in The Waterway Square District of The Woodlands Town Center. Located at the intersection of Waterway Square Place and Woodloch Forest Drive in The Woodlands, the new nine-story building will begin construction soon, Elkus-Manfredi of Boston designed 4 Waterway Square; Harvey Builders of Houston is the general contractor. Gensler Houston is the architect of record for the building, which will include an adjacent 1,900-space Waterway Square garage. Both 4 Waterway Square and the garage are expected to be complete in the summer of 2009.
FORT WORTH, TEXAS — Duke Realty Corp.’s construction team has been selected to develop a 50,000-square-foot office building for Galderma, a joint venture between Nestlé and L’Oréal. The new two-story facility will be located on 4.61 acres off Interstate 35 West in North Fort Worth, adjacent to Galderma’s existing headquarters building and distribution center. Galderma purchased the land, which is situated on the Fort Worth section of AllianceTexas, from Hillwood. Construction is expected to begin this month, and completion is scheduled for January 2009.
CORONA, CALIF. — Mammoth Equities has completed a 57,204-square-foot multi-tenant professional building in Corona. Located at Green River Road and Interstate 91, Mammoth Professional Building – Corona is a three-story, steel-framed facility, which offers suites ranging in size from two to 10 rooms. Each suite is equipped with an air conditioning system and pre-wired for high-speed networking and phone access.
BRUNSWICK, GA. — MAP International (Medical Assistance Programs) is building a 55,000-square-foot warehouse and office complex in Brunswick. The LEED-certified facility is projected to complete in October. Randall-Paulson is the project architect.
CHARLOTTE, N.C. — Flagship Capital Partners has acquired a 38,000-square-foot medical office building in Charlotte, from 309 South Sharon Amity LLC, for an undisclosed amount. The three-story, Class A building was 96 percent occupied at the time of sale. Tenants include Cotswold Family Medicine and Charlotte Cardiology Associates. The property is situated on 2.1 acres at 309 South Sharon Amity Rd., located within 3 miles of two hospitals. Jim Rogers of Flagship Capital Partners and Tiffany Slayden of Trinity Partners, both of Charlotte, represented the buyer. The seller was represented by Reed Griffith of Charlotte-based Brackett Company.
CHICAGO — Jones Land LaSalle (JLL) has negotiated the long-term lease of 78,000 square feet of space within Aon Center, located at 200 E. Randolph St. in Chicago, for Microsoft Corp. The new location constitutes an approximately 30,000-square-foot expansion from the firm’s previous office, located at 77 West Wacker in Chicago. It will serve as the headquarters for the firm’s Midwest District, comprising Illinois, Indiana and Wisconsin. Steve Steinmeyer and Luanne Reedy of JLL represented Microsoft in the transaction. The landlord, Norcross, Ga.-based Piedmont Office Realty Trust, was represented by Steve Smith and Mike Curran, also of JLL.
COLUMBUS, OHIO — NorthMarq Capital has arranged $7.45 million in first-mortgage financing for a 115,250-square-foot office building located in Columbus. The three-story, Class A building as recently acquired by a New Jersey-based real estate investment group, which plans to renovate and reposition the property. The loan is for a 5-year term with a 30-year amortization schedule. Richard Koch of NorthMarq’s New Jersey regional office secured the loan.