HOUSTON — NAI Houston has brokered the sale of an office building located at 10727 Tower Oaks Blvd. in Houston. Otwell Tower Oaks Ltd. purchased the 23,650-square-foot building from Suttles Real Estate Investments Ltd. for an undisclosed amount. Travis Land of NAI Houston represented the buyer in the transaction, and Dylan Schopper of Caldwell Cos. represented the seller.
Office
ROUND ROCK, TEXAS — Smith Consulting Architects is nearing completion on the Spectrum at Crystal Park, an office park located at 2300 Greenhill Dr. in Round Rock. The site comprises 10, two-story buildings, which range in size from 5,600 to 15,000 square feet, on 8.68 acres. The office park will house 84,376 square feet total upon completion this spring. St. Croix Capital Corp. and Red Texas Realty LLC have partnered to manage the property.
CHICAGO — The Chicago office of Holliday Fenoglio Fowler has assisted in securing $394.6 million in construction financing and joint venture equity for the renovation of 208 South LaSalle, a 21-story office tower located in Chicago. The project’s developer, UST Prime III Joint Venture Ltd., is a joint venture involving Reschke Chicago Partners, an affiliate of The Prime Group and an affiliate of Estein & Associates. Construction financing totaled $271.6 million, and was provided by Union Labor Life Insurance Co., Private Bancorp and Capri Capital Partners. Estein and Prime capitalized the joint venture with $123 million of equity capital. Renovations to the historic building, which formerly served as a multi-tenant office property, will include the construction of a luxury JW Marriott Hotel on the lower 12 floors. It is expected to include 610 rooms and suites; 48,000 square feet of ballroom and meeting space; and a 20,000-square-foot spa and health club. The hotel will be operated and managed by Marriott International, and is scheduled to open early 2010. Renovations will also be performed to the top nine floors of the building, which will remain office space, as well as the 18,000 square feet of ground-floor retail space. The office component …
CHICAGO — The Chicago office of Holliday Fenoglio Fowler has assisted in securing $394.6 million in construction financing and joint venture equity for the renovation of 208 South LaSalle, a 21-story office tower located in Chicago. The project’s developer, UST Prime III Joint Venture Ltd., is a joint venture involving Reschke Chicago Partners, an affiliate of The Prime Group and an affiliate of Estein & Associates. Construction financing totaled $271.6 million, and was provided by Union Labor Life Insurance Co., Private Bancorp and Capri Capital Partners. Estein and Prime capitalized the joint venture with $123 million of equity capital. Renovations to the historic building, which formerly served as a multi-tenant office property, will include the construction of a luxury JW Marriott Hotel on the lower 12 floors. It is expected to include 610 rooms and suites; 48,000 square feet of ballroom and meeting space; and a 20,000-square-foot spa and health club. The hotel will be operated and managed by Marriott International, and is scheduled to open early 2010. Renovations will also be performed to the top nine floors of the building, which will remain office space, as well as the 18,000 square feet of ground-floor retail space. The office component …
HACKENSACK, N.J. — Normandy Real Estate Partners has completed the multi-million renovation of Continental Plaza, a Class A office complex in Hackensack. The three-building complex sits on 11.9 acres and features 650,000 square feet of space. The renovations included improvement to pedestrian bridges between the parking deck and buildings, renovations of ground-floor lobbies in all three buildings, refurbished elevators and an upgraded landscaping program. Amenities include an upgraded full-service cafeteria, a conference center, a tenant-only gym, a dry cleaning service and a newsstand. Newmark Knight Frank is the exclusive leasing agent for Continental Plaza.
HACKENSACK, N.J. — Normandy Real Estate Partners has completed the multi-million renovation of Continental Plaza, a Class A office complex in Hackensack. The three-building complex sits on 11.9 acres and features 650,000 square feet of space. The renovations included improvement to pedestrian bridges between the parking deck and buildings, renovations of ground-floor lobbies in all three buildings, refurbished elevators and an upgraded landscaping program. Amenities include an upgraded full-service cafeteria, a conference center, a tenant-only gym, a dry cleaning service and a newsstand. Newmark Knight Frank is the exclusive leasing agent for Continental Plaza.
FAIRFIELD, CONN. — The Febbraio Group, a Coldwell Banker Commercial affiliate, has completed the $3.24 million sale of an office facility in Fairfield. The 13,000-square-foot building is located at 363 Reef Rd. Thomas Febbraio of the Febbraio Group represented the buyer, Pagent, LLC, and the seller, ACA Distributors.
FAIRFIELD, CONN. — The Febbraio Group, a Coldwell Banker Commercial affiliate, has completed the $3.24 million sale of an office facility in Fairfield. The 13,000-square-foot building is located at 363 Reef Rd. Thomas Febbraio of the Febbraio Group represented the buyer, Pagent, LLC, and the seller, ACA Distributors.
HOUSTON — Colliers International has brokered the lease of 144,000 square feet at an office building located at 2707 N. Loop West in Houston. CHRISTUS Health leased the office space from the landlord, Hines Interests, for an undisclosed amount. The location will serve as a corporate office for the company, which is a Catholic faith-based health system. Robert Parsley and Bill Byrd of Colliers International represented the tenant in the transaction, and Hines Interests represented itself.
JOHNS CREEK, GA. — Trammell Crow Atlanta Development has broken ground on two 100,000-square-foot medical office buildings in Johns Creek, along West Johns Crossing. The four-story buildings will be situated on an 18-acre site, adjacent to the Emory Johns Creek Hospital. The project broke ground in April and is projected for completion in March 2009. Trammell Crow purchased the site from JC Office, for $8.7 million. Pierce and Bobby Mayson of Atlanta-based Lavista Associates were the sole brokers in the land acquisition.