NEW YORK CITY — General Motors Corp. has singed a 120,000-square-foot lease at Citigroup Center in New York City. The automobile maker will be relocating to the space at 153 E. 53rd St. in mid 2009. Citigroup Center is a 1.6 million-square-foot Class A office building owned by Boston Properties. Frank Doyle, Cynthia Wasserberger and David Kleiner of Jones Lang LaSalle represented the building owner in the transaction, and Peter Riguardi, Michael Shenot and Lloyd Desatnick, also of Jones Lang LaSalle, represented General Motors.
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WEST PALM BEACH, FLA. — Suffolk Construction has acquired a two-story, 45,000-square-foot office building in West Palm Beach, from One Harvard Circle LLC, for $9 million. Suffolk will utilize the building as its headquarters after a $2.5 million renovation, including LEED certification. The property is located at 1 Harvard Circle, near the intersection of Village Boulevard and Palm Beach Lakes Boulevard. Neil Merin of West Palm Beach-based NAI/Merin Hunter Codman represented the buyer, and the seller was represented by Thomas Gibson of West Palm Beach-based Asset Specialists.
MILWAUKEE — Wells Real Estate Investment Trust II has acquired a three-story, 230,000-square-foot office building located within Park Place at 11200 W. Parkland Ave. in Milwaukee. The building is currently fully leased to Wells Fargo until 2016. It was acquired from Washington Mutual for an undisclosed amount.
HARTFORD, CONN. — New Boston Fund has sold 100 Pearl Street, a 281,000-square-foot office building in Hartford, to The Sliverman Group for an undisclosed amount. The Class A facility is comprised of a six-story low-rise tower and a 17-story mid-rise tower. Amenities include a fitness center, a conference facility, a café, and on-site property management. John McCormick and Pat Mulready of CB Richard Ellis’ Hartford office and Jeff Dunne of CB Richard Ellis’ Metropolitan New York office represented the seller and procured the buyer in the transaction.
WOODLAND HILLS, CALIF. — Colliers International has brokered the $14.2 million sale of a Class A office building in Woodland Hills. Larkspur, Calif.-based Venture Corp. acquired the property from Van Nuys, Calif.-based Ashrad LLC. The 46,244-square-foot multi-tenant office building is located at 5900 Canoga Ave. The buyer plans to convert the property into for-sale office condominiums. John DeGrinis and Roger Beck of Colliers’ Encino office represented both parties in the transaction.
NEW YORK CITY — SL Green has sold 1250 Broadway in Manhattan, New York City, for $310 million to Murray Hill Properties. The Class A office tower features 670,000 square feet of space spanning 39 stories. Strategically located near Penn Station on Broadway at 31st Street, the property is 99 percent occupied. Cushman & Wakefield represented the seller in the transaction. The sale is slated to close second quarter 2008.
BOSTON — EagleBridge Capital has arranged $6 million in acquisition financing for 212 Stuart St., an office building in Boston. Located in the Park Square area of the city, the three-story building is set within a few blocks of Boston Commons, Copley Square and the Newbury Street/Boylston Street shopping area. Brian Sheehan and Ted Sidel of EagleBridge arranged the financing for the undisclosed borrower.
LOS ANGELES — Bob Safai of Madison Partners represented both parties in the sale and acquisition of Corinth Gardens, a three-story office property located at 2211 Corinth Ave. in Los Angeles. Solomon Aryeh acquired the building for $9.6 million from PMI Financial. Built in 1988 and renovated in 1998, the 20-tenant property contains approximately 24,110 square feet of leased space, with a typical floor size of 7,660 square feet.
COLUMBIA, S.C. — Holder Properties is developing Main & Gervais, a $60 million, 200,000-square-foot office building in Columbia, in conjunction with co-owners and tenants Edens & Avant, McNair Law Firm and the National Bank of South Carolina. Construction is scheduled to begin on the 18-story building, which is located along Main Street, in July. The first tenants will begin occupancy in December 2009, with the following tenants moving in March and July 2010. The building will serve as a headquarters location for the three co-owners.
ATLANTA — Atlanta-based The Carter Real Estate Fund (CREF) has acquired The Dupree Building, a 137,818-square-foot, six-story office building in Atlanta, from Germania Property Investors, an affiliate of Atlanta-based Germania of America, for an undisclosed amount. The Class A building is located at 6120 Powers Ferry Rd. and was 100 percent occupied at the time of sale. Sprint will be vacating 122,590 square feet of space this month. Superior Essex has leased 75,000 square feet of space for its corporate headquarters and will occupy the building in the third quarter of 2008. Tommy Hughes and Beau Terrell of Carter’s Atlanta office represented the buyer. Glenn Kolker of Childress Klein’s Atlanta office represented CREF in the lease negotiations with Superior Essex, and the lessee was represented by Sam Holmes of CB Richard Ellis’ Atlanta office. Carter will lease and manage the building.