SAN FRANCISCO — San Francisco-based BRM Bakersfield LLC has acquired a 24,660-square-foot office complex in San Francisco. Located at 410-440 Pacific Ave., the four-building complex sold for $13.5 million or a record $547 per square foot. At the time of acquisition, the property was 100 percent occupied. The seller was San Francisco-based Group I Inc. Dan Cressman, Mike Taquino and Ben Allott of Grubb & Ellis’ San Francisco office represented both parties in the transaction.
DORAL, FLA. — Miami-based Shoma Development Corp. has completed vertical construction on its 231,500-square-foot Class A office building, One Park Square, located at 3600 N.W. 82nd St. in Doral. When completed in December, One Park Square will be among the first developments in the 51-acre mixed-use Park Square at Doral, which will include multifamily units and 130,000 square feet of retail space. Weston, Fla.-based Gryphon Construction served as the general contractor for One Park Square, and Miami-based Zyscovich Architects provided design services.
MIAMI — Keller Williams Commercial Division’s Paul White has negotiated the sale of 6710 Partners’ 3,382-square-foot office building, located at 6710 S.W. 80th St. in Miami, to Silver Lining Investments for $1.2 million. Silver Lining plans to turn the office, which had been occupied by the previous owners for 16 years, into a daycare facility.
INDIANAPOLIS — Michael Corr and John Robinson of Meridian Real Estate have represented Brightpoint in relocating its 39,685-square-foot North American headquarters from Plainfield, Ind., to Woodland Corporate Park VI, which is located in Indianapolis. The new facility will ensure enough space for Brighpoint’s future expansion. The 154,000-square-foot building, which is owned by Duke Realty Corp., is now 100 percent leased. Meridian Realty represented all three tenants that occupy the facility.
CROOKSTON, MINN. — Coldwell Banker Commercial First Realty-Encore has brokered the sale of a 49,463-square-foot office building located at 23616 U.S. Highway 2 SW in Crookston. Riverview LLC has acquired the property, which was valued at $1.8 million, from The Sisters of St. Joseph of Medaille. The facility was formerly a novitiate, junior college, convent and retirement home. Riverview LLC will lease the building to a local hospital for its drug and alcohol treatment center, which will contain 52 beds and 156 acres of outdoor recreation space. Scott Hildre and Dennis Olson of Coldwell Banker represented the seller in the transaction.
LOS ANGELES — The Somerset Group has acquired 5055 Wilshire Boulevard in Los Angeles for $45.1 million. The nine-story, Class A office property is located in the Miracle Mile district of the city. The 168,532-square-foot building is 97 percent leased to multiple tenants, including Verizon Business, Nationwide Mutual, The Hollywood Reporter, Billboard Magazine and Nielson. Fred Cordova, Nathan Pellow and Andrew Rosengarten of Colliers International represented the buyer; The Palmer Team represented the seller, USAA Real Estate Company, in the transaction. Wells Fargo Real Estate Group provided debt financing for the transaction.
HENDERSON, NEV. — The Las Vegas office of United Construction, serving as general contractor, has completed the construction of the Pecos Building, a $2 million office/retail project in Henderson. Located at 178 N. Pecos Rd., the 24,732-square-foot property consists of two components. The 10,981-square-foot first floor offers retail tenant space speculatively built out into three units to allow for move-in ready space. The second floor offers 12,971 square feet of office space, which is designed for single or multiple tenants. Mertz Properties is the developer of the project; Dekker/Perrich/Sabatini served as architect of record. Chris Meade of MDL Group has been retained to market and lease the property.
CHICAGO — Los Angeles-based Younan Properties has completed the disposition of 211 East Ontario located in downtown Chicago. The 172,000-square-foot, Class A office building is situated within the North Michigan Avenue submarket, adjacent to the Magnificent Mile shopping district. Northwestern Memorial Hospital has acquired the 18-story building from Younan Properties for $35.7 million.
EL SEGUNDO, CALIF. — Barker Pacific Group and Prudential Real Estate Investors have leased Continental Tower to an undisclosed aerospace-related company for approximately $120 million. Located at 101 Continental Blvd. in El Segundo, the 16-story tower offers 333,000 square feet of office space. Eric Lastition, Geoff Ludwig and Greg Walsh of Colliers International’s South Bay office represented the landlord in the transaction; CB Richard Ellis represented the lessee.
NASHVILLE, TENN. — Miami-based Parmenter Realty Partners has acquired the 480,224-square-foot Class A office building Nashville City Center, located at 511 Union St. in Nashville, from Nashville City Center Partnership for an undisclosed amount. The purchase of the fully-leased building was part of the $550 million Parmenter Realty Fund III and includes contiguous land for a 570-car parking garage. Eastdil Secured’s Atlanta office represented the seller in the transaction.