AUSTIN, TEXAS — The Austin office of Structura Inc. has joined with locally based companies L.M. Holder & Associates and Capital Commercial Investments for the renovation of the Perry-Brooks Building, located at the intersection of Eighth and Brazos in Austin. A new metal façade will be added to the brownstone building, along with a three-story curtain wall at ground level. The lobby will be redesigned with granite and abundant natural light. Each floor of the 12-story tower will be designed in a loft style, and will feature energy-efficient components. Structura is anticipating an EPA/Energy Star award for the project upon completion in early 2009.
Office
DALLAS — Henry S. Miller Commercial (HSMC) is leading renovation efforts for the Adolphus Tower, a 27-story office tower located at 1412 Main St. in Dallas. The 181,235-square-foot building is located adjacent to the Adolphus Hotel, and the two buildings are connected directly. Upgrades to the office building will include remodeling, branding and leasing programs. LaWayne Schrader of HSMC‘s Dallas office will handle leasing efforts for the building, which currently has 78,624 square feet of vacant space. Rental rates for the building begin at $14 per square foot.
DALLAS — The Dallas office of Grubb & Ellis has brokered two Dallas office sales. In the first transaction, Steven Schneider of Grubb & Ellis, along with Jeff Price of Price Commercial Real Estate, arranged the sale of a 17,500-square-foot office property located at 4403 N. Central Expressway. Schneider and Price represented the seller, James P. Best. The property was acquired by Duwest 4403 Central LP for an undisclosed amount. In the second sale, Lee Wagner of Grubb & Ellis represented Hidalgo-Tynes in the purchase of an 8,750-square-foot office property located inside Lakes on Tennyson Professional Plaza. The property was sold by Golden Goose Properties Ltd. for an undisclosed price.
FORT MYERS, FLA. — Construction has commenced on a 30,000-square-foot office building, the second of four in Fort Myers-based McGarvey Development’s Eastlinks Business Park, located at 12600 Corporate Lakes Dr. in Fort Myers. The first property was completed in January, and the second is slated to deliver in October.
HOUSTON — Dallas-based Behringer Harvard has acquired One City Centre, a 31-story, Class A office tower located at 1021 Main St. in the central business district of Houston. The property contains 608,660 square feet of office space and two parking garages. It was 96 percent occupied at the time of closing. The Houston office of Holliday Fenoglio Fowler represented the seller, New York-based Broadway Real Estate Partners. The acquisition price was undisclosed.
ALPHARETTA, GA. — California-based ESRI has purchased a 129,421-square-foot, five-story office building in Alpharetta’s Brookside Concourse from the Skokie, Ill.-based Alter Group for an undisclosed amount. The 8-year-old building, located at Georgia Hwy. 120, is part of the 204-acre Brookside business park. James Clark, III, of Lombard, Ill.-based EnTrust Realty Advisors represented the seller.
MAITLAND, FLA. — Jacksonville, Fla.-based Flagler Development Group recently purchased Maitland Promenade, a 230,000-square-foot, five-story office building located at 495 N. Keller Rd. in Maitland, for an undisclosed amount. Grubb & Ellis Realty Investors represented the sellers, tenant-in-common investors, and the buyer was represented by Daniel Finkle of Holliday Fenoglio Fowler’s Miami office.
CHICAGO — In March 2009, AlixPartners will relocate its Chicago office to a 33,997-square-foot space located within 300 N. LaSalle in downtown Chicago. The 1.4 million-square-foot 300 N. LaSalle project, which is being developed by Hines, is slated for completion in the first quarter of 2009. With more than 200 feet of frontage along the Chicago River, the 775-foot tall, Class A office building’s outdoor plaza will feature a waterfront café with seating areas adjacent to the river. The facility is a pre-certified LEED-CS Gold structure. Todd Lippman and Brad Serot of CB Richard Ellis represented the tenant; J.F. McKinney & Associates represented the owner in the lease agreement. Terms of the deal were not disclosed.
WEST CARTERET, N.J. — A joint venture between Stamford, Conn.-based RiverOak Investment Corp. and Cofinance has acquired the former Pathmark headquarters building in West Carteret for $14.7 million. Situated on 12.24 acres at 200 Milik St., the property contains a two-story, 150,000-square-foot, Class B office building. Pathmark has vacated the property, but its lease runs until the end of 2011. In the meantime, Pathmark has signed an agreement with the new owners that permits them to sublease the space for the duration of Pathmark’s term. The buyers also plan to invest in a capital improvements program to lease up the property. The joint venture acquired the property from entities controlled by Lexington Property Investors. The acquisition of the former Pathmark building marks the fourth acquisition made on behalf of RiverOak Investment Fund IV, a $26 million, value-added real estate fund started by RiverOak in 2007.
WEST ORANGE, N.J. — Woodbridge, N.J.-based The Kislak Company has brokered the sale of three office buildings for $2.62 million. The properties are located at 95-99 Northfield Ave. in West Orange and total 14,000 square feet. As of closing, the buildings were 91 percent occupied, with only one vacant space remaining. Joni Sweetwood of Kislak represented the seller, Chrisdon LLC, as well as the undisclosed buyer.