ENCINITAS, CALIF. — Wiegand Neglia Corp. is developing Quail Corporate Center, an approximately 33,000-square-foot commercial project located at 662 Encinitas Blvd. in Encinitas. Designed by Hanna Gabriel Wells, the project consists of a single-story commercial office and/or medical condominium complex. Expected to be the first private LEED-certified building in Encinitas, the property will feature natural daylight and ventilation elements; an energy-efficient envelope and mechanical systems; reclaimed water for landscape irrigation and recycled material use. Completion is slated for second quarter 2009. Peter Curry and Matt Campbell of Grubb & Ellis|BRE Commercial are representing the property.
Office
PARK CITY, UTAH — Thompson National Properties LLC, on behalf of the Vulture Fund, has purchased the Blind Dog Building in Park City for an undisclosed price. The property, which is located at 1781 and 1787 Sidewinder Dr., is commonly referred to as the Blind Dog Building because it is anchored by the Blind Dog Restaurant. The three-story, more than 15,000-square-foot building was built in two phases, with the final phase completed in 2002. At the time of acquisition, the value-add property was 73 percent occupied. The seller was not disclosed.
MARGATE, FLA. — A local family trust recently sold a 25,524-square-foot office/retail building, located at 2515 N. State Rd. 7 in Margate, to BJ&S Properties for $2.2 million. Adam Von Romer of Investment Real Estate Associates’ Miami office represented the seller.
MINEOLA, N.Y. — CB Richard Ellis (CBRE) has brokered the sale of Century Plaza, a three-story, Class A office building located at 330 Old Country Rd. in Mineola. The building totals approximately 107,071 square feet, and was 96.8 percent leased at the time of closing. Tenants at Century Plaza include Forchelli, Curto, Schwartz, Mineo, Carlino & Cohn LLP; Fatwire Corp.; Liberty Mutual Insurance Co.; American Student List; and Kelly, Rode & Kelly LLP. Jeffrey Dunne, Steven Bardsley and Chris Leonard of CBRE’s New York Institutional Group, along with Martin Lomazow and Roy Chipkin of the company’s Long Island office, represented the owner and procured the buyer. Both parties were undisclosed.
MISSOURI CITY, TEXAS — Construction had begun for Phase I of Lakeview Business Park, a 168-acre industrial park located in Missouri City. Phase I construction will consist of three buildings totaling 240,000 square feet; the buildings will range in size from 38,000 to 153,000 square feet. Each will feature 24- to 30-foot clear ceiling heights, ESFR sprinkler systems and concrete tiltwall construction. The project will also be applying for LEED certification. Upon full build-out, Lakeview Business Park will include approximately 2.5 million square feet of light industrial space. Phase I is scheduled for completion in February 2009. The project is being developed by a joint venture involving Dallas-based Trammell Crow Co. and its affiliate Crow Holdings. CB Richard Ellis is serving as exclusive listing agent for the industrial park.
PARK CITY, UTAH — Thompson National Properties LLC, on behalf of the Vulture Fund, has purchased the Blind Dog Building in Park City for an undisclosed price. The property, which is located at 1781 and 1787 Sidewinder Dr., is commonly referred to as the Blind Dog Building because it is anchored by the Blind Dog Restaurant. The three-story, more than 15,000-square-foot building was built in two phases, with the final phase completed in 2002. At the time of acquisition, the value-add property was 73 percent occupied. The seller was not disclosed.
ORLANDO, FLA. — RobinsonBush recently acquired suite 102, 4,996 square feet of office/retail space, in the 801 North Orange building, located in downtown Orlando, from Carmen Dominguez, LLC, for $1.2 million. RobinsonBush will lease 1,996 square feet to Dolce Vita Salon and occupy 3,000 square feet of the 96,000-square-foot building, which houses tenants including Daily Grind Coffee and Citrus Restaurant on the ground floor. CitiSpace Orlando’s Patricia Sullivan represented the buyer, and Vince Arch and Laurie Hamilton, also with CitiSpace Orlando, represented the seller.
RICHMOND, VA. — Thompson Davis Asset Management has purchased the 8,000-square-foot Barrett House, an office building located at 15 S. 5th St. and 508 E. Cary St. in Richmond, from Ashvin, LLC, for $1.1 million. I. Rowland Williams, III, and Millard Jones, II, of Thalhimer’s Richmond office brokered the sale.
EAST HARTFORD AND GLASTONBURY, CONN. — New Boston Fund has sold the East Portfolio, a four-building office portfolio totaling 294,262 square feet. Three of the buildings are located in East Hartford; Riverbend Executive Park comprises two four-story office buildings that total 154,629 square feet, and are located at 55 and 77 Hartland St. The third property is a four-story, 40,812-square-foot office building located at 60 Hartland St. The final building in the portfolio is a five-story, 98,821-square-foot office building located at 655 Winding Brook Dr. within Salmon Brook Corporate Park in Glastonbury. The portfolio was 98 percent leased at the time of closing to a tenant roster that includes Computer Sciences Corp., IKON Office Solutions, Wells Fargo Financial, Affiliated Computer Services and Mutual of Omaha Insurance Co. The portfolio was acquired by NPV/Direct Invest for an undisclosed amount. New Boston Fund was represented by Robert Griffin, Marci Loeber, David Pergola, Brian Doherty and Robert Kelly of Cushman & Wakefield.
NEW YORK CITY — New York City-based Savanna, along with a locally based hedge fund, has originated $45.75 million in full-recourse senior financing for 63 West 38th Street, a 12-story, Class B office building located in New York City. The first-mortgage financing for the 150,622-square-foot property carries a 65 percent loan-to-value ratio. The New Jersey-based borrower was advised by Meridian Capital Group.