HAMILTON, N.J. — Opus East is set to begin construction on the first two speculative office buildings at the Mercer Corporate Center in Hamilton. The identical, three-story office buildings will feature 60,000 square feet each of Class A office space situated on 52 acres with a waterfront view. Located along Klockner Road just south of the intersection of Interstate 195 and Route 130, the facilities will be within close proximity to Exit 7A of the New Jersey Turnpike. Amenities will include walking trails, ponds and a new access road. Completion is slated for December 2008.
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SOUTH NORWALK, CONN. — CB Richard Ellis (CBRE) has completed the $24.75 million sale of a retail/office portfolio in South Norwalk. The portfolio consisted of 61,146 square feet of retail property and 24,916 square feet of office space. The portfolio was 78 percent leased at the time of the transaction. Jeffrey Dunne, Dean Matus and Matthew Innes of CBRE represented the seller, Madison Tower Main Street LLC, an entity controlled by a partnership between BlackRock and Madison Marquette, in the sale. In addition, this same team from CBRE procured the buyer, TR SONO Partners, an entity controlled by F.D. Rich Co.
NEW YORK CITY — Robert Knakal of Massey Knakal Realty Services has completed the $24 million disposition of a 75-foot wide development site in the Hudson Yards area of Manhattan, New York City. The property allows for approximately 96,281 buildable square feet as well as the opportunity to purchase roughly 22,219 square feet of air rights from the city. Knakal represented the seller, Saxa Inc., which sold the property to an undisclosed Long Island hotelier.
NAPERVILLE, ILL. — The Staubach Company has represented Hallmark Services Corp. in the long-term leasing of 256,766 square feet within Naperville Woods Office Center at 1000-1100 E. Warrenville Rd. in Naperville. Hallmark will utilize the space as its headquarters and for call center operations. It expects to occupy the new space by the end of the year, vacating approximately 150,000 square feet of office space in Aurora, Ill. Andrea Van Gelder Diana Rieske, Michael Sessa and Jock Howland of Staubach represented Hallmark in the transaction. Brian Whiting of JF McKinney & Associates represented the landlord, M&J Wilkow.
WOBURN, MASS. — Cumming Properties recently completed TradeCenter 128, a Class A, seven-story office facility in Woburn. The 400,000-square-foot facility was granted Gold Level LEED Certification and contains several other energy efficient features. Located along Route 128/95, the building is adjacent to the new Middlesex County Superior Court.
MESA, ARIZ. — Hudson Realty Capital has partnered with Biltmore Holdings to acquire a 96,000-square-foot office building in Mesa. Hudson Realty invested more than $2.4 million in joint-venture equity for acquisition. Located at 827 W. Grove Ave., the property is situated within Kent Commercial Park within walking distance of retail, restaurants and other services. The seller and the acquisition price were not disclosed.
ARLINGTON, VA. — Los Angeles-based Lowe Enterprises has acquired Jefferson Plaza, a 517,305-square-foot office complex in Arlington’s Crystal City district, from Equity Group, on behalf of an investment client, for an undisclosed price. The complex is comprised of two 13-story office towers, the 263,312-square-foot Jefferson Plaza 1 and 253,993-square-foot Jefferson Plaza 2. The towers, located at 1411 and 1421 Jefferson Davis Hwy., are connected by a glass-enclosed atrium and share a three-level below-grade parking structure. The buyer was represented in-house, and Warren Dahlstrom of Cushman and Wakefield’s Washington, D.C. office represented the seller. The complex was 96 percent leased at the time of sale, with the National Guard Bureau being the largest tenant.
NORTHBROOK, ILL. — 1000 Sunset LLC, a joint venture between Chicago-based companies ICE Realty Group and ABC Real Estate Investment, has acquired an office/warehouse property located at 1000 Sunset Ridge Rd. in Skokie with the intent to redevelop it into a senior living facility. The 7.2-acre parcel presently contains three buildings totaling 233,000 square feet, which will be completely demolished for the redevelopment. The joint venture has also entered into an agreement with Chicago-based Senior Lifestyle Corp. to develop and operate the $50 million project. Plans call for 180 units, consisting of a five-story structure that will house 136 independent living units, as well as a four-story structure that will house 32 assisted living units and 12 memory care units. The two buildings will be connected by a shared first floor that will contain a centralized dining facility and common areas. The facility will also contain below-grade parking. The project is scheduled to break ground later this year or in early 2009, with completion slated for 2010. Mitch Loveman of Colliers Bennett & Kahnweiler represented 1000 Sunset LLC in the property acquisition; Sam Badger of Paine/Wetzel represented the seller, a partnership involving Gold Realty. Steve Levitas and Bob Chodos, also …
WESTFIELD, IND. — Colliers Turley Martin Tucker (CTMT) has brokered the sale of a two-building, 298,961-square-foot office property located at 19845 U.S. Highway 31 in Westfield. The property is fully leased to Verizon Communications, which operates the facility as a regional call center. Rebecca Wells and Michael Semler of CTMT’s Indianapolis office represented the seller, MetLife. The property was acquired by ORIX Real Estate Capital for an undisclosed price
DAYTON, OHIO — Triple Net Properties has acquired Washington Park Office Center, a two-building office complex located in Dayton, on behalf of tenant-in-common investors. The property consists of two three-story, Class A buildings totaling approximately 154,000 square feet, as well as a shared 714-space surface parking lot. The buildings each feature a three-story atrium, interior foliage and swipe card access systems, and are 92 percent occupied. Triple Net acquired the property from TAMME Investments and Washington Park I LLC, which were represented by Mike Wenzler of The Wenzler Group. The acquisition price was not disclosed.