WILMINGTON, DEL. — J. Calnan & Associates have completed Wyeth Pharmaceuticals’ office building in Wilmington. The 50,000-square-foot facility features approximately 128 offices, 10 open office cubicle areas, added specialty rooms for seminars and presentations, and a mother’s room. The office build-out was a collaborative effort between J. Calnan & Associates, Jones Lang LaSalle, ADD, Inc. and RDK Engineers.
SAN DIEGO COUNTY, CALIF. — Phoenix-based Opus West is developing Horizon Tech Center @ Scripps Ranch in San Diego County. Situated on an 11.3-acre site, the 158,000-square-foot project is being constructed to meet LEED Green Building Rating Systems certification requirements. The three-building campus features large, efficient floor plates; floor-to-floor heights designed to accommodate extensive lab and clean room areas; and 10-foot finished ceiling heights for office areas. Opus Architecture & Engineering, along with RJC Architects, provided architectural services for the project.
MIDDLEBURG HEIGHTS, OHIO — Cleveland-based NAI Daus has brokered the sale of Interstate Plaza, a 62,073-square-foot office building located at the corner of Sprague and Pearl roads in Middleburg Heights, for $4.85 million, at an 8.41 percent capitalization rate. The property, which was 90 percent occupied at the time of closing, features an indoor, heated parking garage, a full-service deli and conference rooms. Dan Cooper and Bob Havasi of NAI Daus represented the seller, Illinois-based Baybrook Investors, as well as the buyer, locally based Interstate Plaza Co.
BURLINGTON, MASS. — New Boston Fund has sold Five Burlington Woods in Burlington to ELV Associates for an undisclosed price. The Class A, 103,973-square-foot office building was 94 percent leased at the time of the sale. Tenants include Hollister Associates, Linear Properties and Fay, Spofford & Thorndike. The three-story building sits on 3 acres just off of Route 128 within the Burlington Woods Office Park. Catherine Daume, Michael Smith, Scott Jamieson, Tamie Thompson, Gail McDonough and Daniel Koller of Jones Lang LaSalle represented the seller and procured the buyer in the transaction.
FORT LAUDERDALE AND WESTON, FLA.— West Palm Beach, Fla.-based NAI/Merin Hunter Codman has arranged the sales of the Port Royale Financial Center and a two-building office portfolio in Fort Lauderdale and Weston. A private investment group acquired Port Royale Financial Center, a 52,189-square-foot office building, from Port Royale Associates, for $13 million. The property is anchored by BB&T Bank and was 96 percent leased at the time of sale. Neil Merin of NAI/Merin Hunter Codman represented the buyer. Tom Brymer of Miami-based Brymer Realty represented the seller. The building is located at 6550 N Federal Way. Boston-based Realty Associates Advisors purchased a two-building office portfolio, totaling 54,633 square feet, from 1040 Weston Road LLC and 1625 N Commerce Parkway LLC, for $15.3 million. Tenants of the buildings include Colonial Bank and Washington Mutual. Neil Merin was the sole broker. The building was 97 percent occupied at the time of sale.
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HOUSTON — Transwestern’s Houston office has finalized the purchase of 50 acres at the southeast corner of Highway 288 and Reed Road in Houston, and has begun construction on a new business park on the site. Phase I of the project, which is called Park 288, will consist of three buildings totaling 268,425 square feet. In addition, Transwestern has sold approximately 14.5 acres at the site to The Museum of Fine Arts Houston, which will construct a new 150,000-square-foot warehouse. TY Art also acquired 3 acres and will build a 30,000-square-foot building adjacent to The Museum of Fine Arts Houston. Aaron Howes and Michael Palmer of CB Richard Ellis represented the Museum of Fine Arts Houston and TY Art in the transaction, and Brian Gammill of Transwestern represented the seller.
LOS ANGELES — AZ Wellesley Plaza LLC has acquired an 82,258-square-foot office building, which is located at 12304 Santa Monica Blvd. in Los Angeles’ Westside, from Santa Monica-Wellesley, a joint venture, for $28.9 million. Completed in 1981, the three-story building was 98 percent occupied at the time of acquisition. T.C. Macker and Craig Newlands of Coldwell Banker Commercial WESTMAC represented both parties in the transaction.
ENGLEWOOD, COLO. — Behringer Harvard, on behalf of Behringer Harvard REIT I Inc., has completed the disposition of 9100 Mineral Circle, an approximately 153,000-square-foot, four-story office building located in Englewood. The property, which is 100 percent occupied, is located within Panorama Business Park, and features dual-feed power, fiber optics, a raised floor computer room and a multimedia boardroom. The buyer and the acquisition price were not disclosed.
NEW ORLEANS — New Orleans-based Downtown Development Group (DDG) has purchased UNO Technology Enterprises, a 124,000-square-foot, 14-story office building in New Orleans, from the University of New Orleans Foundation, for $3.6 million. DDG will redevelop the site into The Canal Medical and Technology Center, a $16 million private, Class A medical and technology office building that will start construction in April and is slated for completion in August. The project is located at 1600 Canal St., next to the new Tulane Medical Center building, and will include lobby floor retail space, a restaurant, rooftop dining cabana, concierge services and a bank. Miami-based Imbruglia Construction is the general contractor, and New Orleans-based Steven Finegan Architects is designing the project. Skip Weber of New Orleans-based Latter & Blum Realtors represented the buyer, and Brian Rourke of Latter & Blum represented the seller in the transaction.