COLORADO SPRINGS, COLO. — Suwannee, Ga.-based SPCL Property Investments Inc. has acquired a 60,243-square-foot office building, which is located at 2862 Circle Drive South in Colorado Springs, for $2.2 million. Situated on a 3.28-acre site, the property is 100 percent occupied by the Colorado Department of Corrections on a short-term lease. Eric Kimose and Barry Higgins of Marcus & Millichap’s Denver office represented the seller, Broomfield, Colo.-based Colorado and Santa Fe Partners XII LLC, in the transaction.
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FORT MYERS, FLA. Stevens Construction has begun construction on Phase I of Parker Commons located off Daniels Parkway in Fort Myers. The entire office condominium consists of one two-story and nine one-story office buildings, totaling 88,500 square feet. Phase I includes the first four buildings and is scheduled for completion in early 2006. Dave Van Loon of Stevens Construction is the project manager. Sheeley Architects designed the project.
BURR RIDGE, ILL. — Burr Ridge-based Mars Equities is developing a three-story, 90,000-square-foot speculative office building as the final phase of construction of Estancia Executive Center, located at 180 Harvester Dr. in Burr Ridge. This phase comes on the heels of NAI Hiffman fully leasing the other two speculative buildings in the development, which together total 160,000 square feet. NAI Hiffman will also handle leasing for the new building, which is slated for completion in first-quarter 2009.
CANTON, MASS. — Richards Barry Joyce (RBJ) has brokered the $5.1 million sale of 275 Dan Rd., a 99,869-square-foot office building in Canton. The building is currently fully occupied by Organogenesis, a regenerative medicine company. Richard Herlihy and Michael Frisoli of RBJ represented the seller CWCapital Asset Management, and Sean Teague of DTZ FHO Partners procured the buyer, Rugby Realty Co., in the transaction.
PRINCETON, N.J. — Novo Nordisk has signed a 167,000-square-foot lease at 1100 Campus Rd., a five-story Class A office building in the Princeton Corporate Campus in Princeton. The lease represents an expansion of Novo Nordisk’s U.S. headquarters. Steve Tolkach of Newmark Knight Frank represented the leasee in the transaction, and Crimson Services represented the building owners, a joint venture comprised of the Patrinely Group and USAA Real Estate Co.
TINTON FALLS, N.J. — Onyx Equities has completed renovations on two existing office buildings located at 766 Shrewsbury Ave. in Tinton Falls. One building consists of 45,000 square feet within four stories, and the second building contains 26,000 square feet within two stories. Interior renovations included the upgrades to the entry lobbies, elevators and common areas. Exterior renovations are slated for this spring. Current medical tenants include Atlantic Diagnostics. David Zimmel and Joel Natter of Zimmel Associates are marketing the facilities.
DENVER — Denver-based The Etkin Johnson Group has partnered with Forest City Development to construct Enterprise Park at Stapleton, a 441,000-square-foot office/industrial campus at the Stapleton redevelopment site in Denver. The three-building project will consist of a 153,000-square-foot building offering 30-foot clear height ceilings, and a 139,695-square-foot facility and a 148,902-square-foot facility offering high parking ratios and 24-foot clear height ceilings. Additionally, the buildings will feature 10-foot glass windows and a front park-rear load configuration. Jim Bolt of CB Richard Ellis and Tim D’Angelo of TD Industrial Properties are marketing the project.
SAN DIEGO — Vancouver, Canada-based Emri Group and Baltimore-based Alex. Brown Realty Inc. (ABR) have formed a joint venture to acquire a 57,200-square-foot research and development (R&D)/office building, which is located in San Diego’s Sorrento Mesa market, for $11.4 million. Built in 1985, the single-story, Class B property was 78 percent occupied at the time of acquisition. Major tenants of the property include OnmiCare and Tensys. ABR Chesapeake Fund III, a value-added real estate investment fund sponsored by ABR, provided an equity commitment of $2.9 million for the acquisition. Mickey Morera and Tim Hoag of Cushman Wakefield’s San Diego office represented the undisclosed seller in the transaction; Don Brenneman served as the West Coast acquisitions officer for ABR.
POINCIANA, FLA. — Kissimmee, Fla.-based Chalifoux Management Group has acquired 37 acres from Avatar Properties for Poinciana Parke, a $100 million, 450,000-square-foot development in Poinciana Office & Industrial Park. The project will feature 150,000 square feet of space for corporate and research offices and an urgent care center and additional medical facilities. The project will also include 300,000 square feet of retail and restaurant space. Construction is slated to begin late this year. The property is located at the corner of Highway 17-92 and Poinciana Boulevard. Chalifoux is also negotiating the purchase of 36 additional acres from Avatar for the development of a $60 million mixed-use project featuring 500,000 square feet of retail office and office warehouse space. The property is comprised of adjacent 23- and 13-acre sites, located north of Highway 17-92 on Poinciana Boulevard.
EASTPOINTE, MICH. — L. Mason Capitani/TCN Worldwide (LMC) has brokered the sale of a 16,600-square-foot office building located at 20811 Kelly Rd. in Eastpointe. The property is currently 100 percent occupied. Al Iafrate of LMC represented the undisclosed seller, and Jason Capitani and Chris Steel, also of LMC, represented the buyer, Eastwood LLC. The acquisition price was not disclosed, but the asking price was $1.2 million, which represents a 13.6 percent capitalization rate.