FORT LAUDERDALE AND WESTON, FLA.— West Palm Beach, Fla.-based NAI/Merin Hunter Codman has arranged the sales of the Port Royale Financial Center and a two-building office portfolio in Fort Lauderdale and Weston. A private investment group acquired Port Royale Financial Center, a 52,189-square-foot office building, from Port Royale Associates, for $13 million. The property is anchored by BB&T Bank and was 96 percent leased at the time of sale. Neil Merin of NAI/Merin Hunter Codman represented the buyer. Tom Brymer of Miami-based Brymer Realty represented the seller. The building is located at 6550 N Federal Way. Boston-based Realty Associates Advisors purchased a two-building office portfolio, totaling 54,633 square feet, from 1040 Weston Road LLC and 1625 N Commerce Parkway LLC, for $15.3 million. Tenants of the buildings include Colonial Bank and Washington Mutual. Neil Merin was the sole broker. The building was 97 percent occupied at the time of sale.
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HOUSTON — Transwestern’s Houston office has finalized the purchase of 50 acres at the southeast corner of Highway 288 and Reed Road in Houston, and has begun construction on a new business park on the site. Phase I of the project, which is called Park 288, will consist of three buildings totaling 268,425 square feet. In addition, Transwestern has sold approximately 14.5 acres at the site to The Museum of Fine Arts Houston, which will construct a new 150,000-square-foot warehouse. TY Art also acquired 3 acres and will build a 30,000-square-foot building adjacent to The Museum of Fine Arts Houston. Aaron Howes and Michael Palmer of CB Richard Ellis represented the Museum of Fine Arts Houston and TY Art in the transaction, and Brian Gammill of Transwestern represented the seller.
LOS ANGELES — AZ Wellesley Plaza LLC has acquired an 82,258-square-foot office building, which is located at 12304 Santa Monica Blvd. in Los Angeles’ Westside, from Santa Monica-Wellesley, a joint venture, for $28.9 million. Completed in 1981, the three-story building was 98 percent occupied at the time of acquisition. T.C. Macker and Craig Newlands of Coldwell Banker Commercial WESTMAC represented both parties in the transaction.
ENGLEWOOD, COLO. — Behringer Harvard, on behalf of Behringer Harvard REIT I Inc., has completed the disposition of 9100 Mineral Circle, an approximately 153,000-square-foot, four-story office building located in Englewood. The property, which is 100 percent occupied, is located within Panorama Business Park, and features dual-feed power, fiber optics, a raised floor computer room and a multimedia boardroom. The buyer and the acquisition price were not disclosed.
NEW ORLEANS — New Orleans-based Downtown Development Group (DDG) has purchased UNO Technology Enterprises, a 124,000-square-foot, 14-story office building in New Orleans, from the University of New Orleans Foundation, for $3.6 million. DDG will redevelop the site into The Canal Medical and Technology Center, a $16 million private, Class A medical and technology office building that will start construction in April and is slated for completion in August. The project is located at 1600 Canal St., next to the new Tulane Medical Center building, and will include lobby floor retail space, a restaurant, rooftop dining cabana, concierge services and a bank. Miami-based Imbruglia Construction is the general contractor, and New Orleans-based Steven Finegan Architects is designing the project. Skip Weber of New Orleans-based Latter & Blum Realtors represented the buyer, and Brian Rourke of Latter & Blum represented the seller in the transaction.
NEW JERSEY — GE Real Estate has provided $105 million in refinancing for nine New Jersey properties that belong to Denholtz Associates. The portfolio includes Class B properties that range from 33,000 to 166,000 square feet and total more than 1 million square feet of space. In addition, the facilities are located throughout six submarkets.
MIAMI— Bala-Cynwyd, Pa.-based Keystone Property Group and Coral Gables, Fla.-based Colliers Abood Wood Fay have acquired Dadeland Towers North, a 244,176-square-foot, three-building suburban campus-style office complex in Miami, from Boston-based Cabot Investment Properties, for $41 million. The complex is situated on 4.6 acres, west of Highway 1, and includes a 150,497-square foot, 8-story building; a 80,983-square foot, 7-story building; and a 12,696-square-foot, two-story building. Major tenants include Burger King; Independent Purchasing Corp.; City College; and Quintairos, McCumber, Prieto & Wood law firm. Christian Lee, Charles Foschini and Christopher Apone of CB Richard Ellis’ Miami-Downtown office represented the seller. The buyers were represented in-house.
SLIDELL, LA. — New Orleans-based Downtown Development Group and Calif.-based OceanView Development are planning Century Park, a $20 million, 62,000-square-foot Class A office and retail complex in Slidell. The project is situated on 2.4 acres along the Interstate 10 service road and Fremeaux Interchange at Highway 190. Construction of the LEED-certified buildings will begin this summer and be completed in three phases: Phase 1 features a 12,000-square-foot two-story office building, which will be completed this winter; Phase 2 includes a 14,000-square-foot one-story retail center featuring restaurants retail and banking; and Phase 3 features a 36,000-square-foot office building. New Orleans-based Steven J. Finegan Architects designed the project.
PENDELTON, IND. — Coldwell Banker Commercial dba Realty Service has arranged the purchase of a 120,000-square-foot office property, located at 600 Corporate Dr. in Pendelton, $5.9 million. The building is situated on 20 acres, and features 10,000 square feet of warehouse storage space. Thomas Willey and Kurt Mathewson of Coldwell Banker Commercial’s Indianapolis office represented the buyer, Tower Pendelton LLC. Zane Brown of CB Richard Ellis represented the seller, Guide Corp.