BURBANK, CALIF. — Kennedy Wilson sponsored funds, KW Property Fund II and KW Property Fund III, have acquired a three-building office portfolio in Burbank for $94.1 million. The portfolio includes 303 North Glenoaks Avenue, a 10-story, 176,813-square-foot property; the six-story, 86,703-square-foot 333 North Glenoaks Avenue building; and 300 East Magnolia, also known as Burbank Executive Plaza, a six-story, 63,899-square-foot property. Major tenants of the portfolio properties include Turner Broadcasting, Front Porch Communities, Universal Music and Video, and BDC Travel. The seller was not disclosed.
WINTER PARK, FLA. — 2303 Partners has purchased Lakeview Office Building, a 48,963-square-foot property in Winter Park, from Santa Fe, N.M.-based BGK Group, for an undisclosed amount. The building is situated on 5 acres at 2302 N. Semoran Blvd. Joseph Rossi and Bret Felberg of Grubb & Ellis | Commercial Florida’s Orlando, Fla., office represented the seller, and the buyer was represented by Geoff Rogers of Winter Park-based Silver City Partners.
HOUSTON — GE Real Estate has provided $71.35 million in financing Newport, Calif.-based Chase Merritt for the acquisition and renovation of Four Corners, a Class B office park located at the southeast intersection of Westheimer and Sage roads in Houston. The mixed-use office property is located adjacent to the Galleria shopping center, and includes 395,473 square feet of office space, 29,920 square feet of retail and two parking structures. This marks the second transaction between GE Real Estate and Chase Merritt in Houston’s Galleria West Loop submarket in the past 6 months.
DALLAS — Equastone has brokered a lease for 98,894 square feet at Stemmons Place, an office tower located at 2777 N. Stemmons Fwy. in Dallas. Children’s Medical Center Dallas is the 20-story building’s newest tenant, signing a 10-year lease at the 634,381-square-foot office tower for an undisclosed amount. The Class A property is now more than 80 percent leased as a result of the transaction. Josh White, Carl Ewert and Brad Selner of Staubach represented the tenant in the transaction, and Reid Caldwell, Kim Butler and Linda Simpson of Transwestern represented the landlord.