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NortheastOffice

GVA WILLIAMS NEW JERSEY COMPLETES SALE OF VALLEY FORGE CORPORATE CENTER I &

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NORRISTOWN, PA. — David Csontos of GVA Williams New Jersey has completed the sale of Valley Forge Corporate Center I & II in Norristown. Located at 2500 and 2600 Monroe Blvd., Valley Forge Corporate Center I & II are part of the Valley Forge Corporate Center, a 14-building business campus that contains a total of 880,000 square feet. Building I is comprised of 72,880 square feet set within two stories on 6.65 acres. It is currently leased to Idearc. Building II is a one-story facility that contains 45,500 square feet on 4.15 acres. It is currently leased to a major regional transmission organization. The sale price was undisclosed.

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OfficeTexas

TRANSWESTERN HOUSTON BEGINS CONSTRUCTION ON 700,000-SQUARE-FOOT OFFICE PROJ

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HOUSTON — Transwestern Houston has begun construction on a 700,000-square-foot office project located 1 mile south of Interstate 10 at the intersection of Eldridge and Enclave parkways in Houston. The property, called Eldridge Oaks, is a Class A, LEED-registered office project that will be built in two phases on 21 acres. The first phase will comprise a 350,000-square-foot office tower and the second phase, which will be built on the remaining land after Phase I construction is complete, will be either a build-to-suit project or a second office tower. The project’s first phase is scheduled for completion in September 2009.

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OfficeTexas

OAKS DEVELOPMENT GROUP COMPLETES PURCHASE OF 29,724-SQUARE-FOOT MEDICAL BUI

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AUSTIN, TEXAS — North Carolina-based Oaks Development Group has finalized the purchase of a medical building located on Park Bend Drive behind St. David Medical Center in Austin. The 29,724-square-foot property, called Post Oak Center North Building 1, is a Class A medical office building that the buyer will lease in a tenant-ownership model. Oaks Development Group purchased the building from an undisclosed seller, and MSL Investments will handle leasing for the property.

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OfficeWestern

KENNEDY WILSON ACQUIRES THREE-BUILDING OFFICE PORTFOLIO FOR $94.1 MILLION

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BURBANK, CALIF. — Kennedy Wilson sponsored funds, KW Property Fund II and KW Property Fund III, have acquired a three-building office portfolio in Burbank for $94.1 million. The portfolio includes 303 North Glenoaks Avenue, a 10-story, 176,813-square-foot property; the six-story, 86,703-square-foot 333 North Glenoaks Avenue building; and 300 East Magnolia, also known as Burbank Executive Plaza, a six-story, 63,899-square-foot property. Major tenants of the portfolio properties include Turner Broadcasting, Front Porch Communities, Universal Music and Video, and BDC Travel. The seller was not disclosed.

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OfficeSoutheast

OFFICE BUILDING CHANGES HANDS IN WINTER PARK

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WINTER PARK, FLA. — 2303 Partners has purchased Lakeview Office Building, a 48,963-square-foot property in Winter Park, from Santa Fe, N.M.-based BGK Group, for an undisclosed amount. The building is situated on 5 acres at 2302 N. Semoran Blvd. Joseph Rossi and Bret Felberg of Grubb & Ellis | Commercial Florida’s Orlando, Fla., office represented the seller, and the buyer was represented by Geoff Rogers of Winter Park-based Silver City Partners.

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