CHARLOTTE AND CORNELIUS, N.C. — Irvine, Calif.-based CIP Real Estate and Baltimore, Md.-based Alex Brown Realty have acquired a business park portfolio, comprised of three properties in Charlotte and Cornelius, from Charlotte-based Beacon Ventures, for $50 million. Coffey Creek International Business Center features 395,989 square feet, and is located at the intersection of Beam Road and Cross Beam Drive in Charlotte. Hickory Grove Business Park is situated on 18 acres and features 12 buildings, totaling 110,017 square feet, in Charlotte. The facility is located along E. WT Harris Boulevard, and was 71 percent occupied at the time of sale. Lake Norman Commerce Center features seven buildings, totaling 91,719 square feet, and is located at the intersection of Catawba Avenue and Liverpool Parkway in Cornelius. The facility is situated on 9.3 acres and was 95 percent occupied at the time of sale. The seller was represented by Ryan Clutter of CB Richard Ellis’ Charlotte office, and the joint venture partners were represented in-house.
NORRISTOWN, PA. — Gene McHale, Mike Flynn, Steve Compton and Taylor Young of Beacon Commercial Real Estate have brokered the sale of a flex building in Norristown. Located at 2490 Armistead Blvd. in the Valley Forge Business Campus, the fully leased facility totals 24,000 square feet. Beacon represented the buyer, RWR Properties, and the seller, The Buccini/Pollin Group, in the transaction. The sale price was undisclosed.
RALEIGH, N.C. — Duke Realty is building a 160,000-square-foot headquarters building for Time Warner Cable at Perimeter Park in Raleigh. The four-story, Class A building will be LEED-certified. Construction is scheduled to begin next month and complete in April 2009. Giffels, a global architecture, engineering and project management firm, designed the build-to-suit facility.
RALEIGH, N.C. — Duke Realty is building a 160,000-square-foot headquarters building for Time Warner Cable at Perimeter Park in Raleigh. The four-story, Class A building will be LEED-certified. Construction is scheduled to begin next month and complete in April 2009. Giffels, a global architecture, engineering and project management firm, designed the build-to-suit facility.
LIBERTY TOWNSHIP, OHIO — Grubb & Ellis Healthcare REIT has acquired Liberty Falls Medical Plaza, an approximately 44,000-square-foot medical office building located at 6770 Cincinnati-Dayton Rd. in Liberty Township. The two-story building is currently 91 percent leased. It is located adjacent to the $83 million Liberty Campus, an outpatient center affiliated with Cincinnati Children’s Hospital Medical Center that is scheduled to open in August. The seller, as well as the sale price, were undisclosed.
LIBERTY TOWNSHIP, OHIO — Grubb & Ellis Healthcare REIT has acquired Liberty Falls Medical Plaza, an approximately 44,000-square-foot medical office building located at 6770 Cincinnati-Dayton Rd. in Liberty Township. The two-story building is currently 91 percent leased. It is located adjacent to the $83 million Liberty Campus, an outpatient center affiliated with Cincinnati Children’s Hospital Medical Center that is scheduled to open in August. The seller, as well as the sale price, were undisclosed.
WYOMING, MICH. — Marcus & Millichap has completed the sale of the Majznerski Dental Office, an 8,200-square-foot, single-tenant medical office building located in Wyoming, for $2.29 million in a sale/leaseback transaction. Bill O’Connor of Marcus & Millichap’s Detroit office and Geoff Meekhoff of the firm’s Grand Rapids, Mich., office represented the seller, which signed a new 10-year net lease at the close of the sale. The property was acquired by a private California-based investor.
WYOMING, MICH. — Marcus & Millichap has completed the sale of the Majznerski Dental Office, an 8,200-square-foot, single-tenant medical office building located in Wyoming, for $2.29 million in a sale/leaseback transaction. Bill O’Connor of Marcus & Millichap’s Detroit office and Geoff Meekhoff of the firm’s Grand Rapids, Mich., office represented the seller, which signed a new 10-year net lease at the close of the sale. The property was acquired by a private California-based investor.
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.
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.