CARLSBAD, CALIF. — La Salle has purchased Ocean Ridge, a Class A office property located at 5796 Armada Dr. in Carlsbad, for $27.5 million. Built in 2006 and 69 percent occupied, the three-story property offers 74,891 square feet of office space with 25,000-square-foot floor plates and state-of-the-art energy management. Lowe Enterprises Real Estate Group developed the property, which was designed by Brian Paul & Associates. Ron Jacobson and Bob Safai of Madison Partners represented the seller, Palomar Lowe, in the transaction.
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ST. PAUL, MINN., AND COLUMBUS, OHIO — Meritex Enterprises has sold two properties located in Minnesota and Ohio for a total of $40.85 million. In St. Paul, the company disposed of a 250,695-square-foot office building located at 444 Lafayette Rd. for $36 million. Meritex had recently completed renovations to the property as part of a 10-year lease renewal with the Minnesota Department of Human Services. Meritex will also be providing property management services for the new owner, which was undisclosed. In Columbus, Meritex disposed of a 147,000-square-foot bulk distribution warehouse located at 1585 Westbelt Dr. for $ 4.85 million. The building is fully leased to Victory Packaging. The property was acquired by VP Partners.
RICHARDSON, TEXAS — Texas-based McCarthy Building Cos. has begun construction on the $149 million office complex that will serve as Blue Cross Blue Shield of Texas’ headquarters in Richardson. The project is being developed by KDC. The 1.05 million-square-foot office complex, which is located on 34 acres in the Gatalyn Park area, will include a 15- and seven-story office tower and a 3,500 car parking structure. The project is scheduled for completion in the fourth quarter of 2009.
DAYTON, OHIO — Grubb & Ellis Healthcare REIT has acquired Park Place Office Park, a three-building medical office park located near Kettering Medical Center in Dayton. The three buildings, Park Place I, II and III, are situated on 8.5 acres and total approximately 133,000 square feet. The property includes a landscaped common area with a pond, water features, benches and walking paths. The office park is 87 percent leased to tenants including Premier Integrated Medical Association, Lincoln Park Surgery Center and Kettering Breast Evaluation. The property was acquired by Grubb & Ellis from Fraze Enterprises, which was represented by Mike Wenzler. The acquisition price was not disclosed.
NEW YORK CITY — Cushman & Wakefield Sonnenblick Goldman (C&WSG) has arranged $110.3 million in financing for 16 Court St., one of the tallest office buildings in Brooklyn, New York City. The borrowers, SL Green Realty Corp. and City Investment Fund LP, plan to renovate the building. Mort Holliday, Andrew Oliver, Alex Hernandez and Steve Harris of C&WSG arranged the financing, which was funded by Anglo Irish Bank Corp.
FRAMINGHAM, MASS. — Frank O’Neil of The Grossman Companies has completed the $1.96 million sale of the Bullard Building in Framingham. Located within the Framingham Center at the intersection of Irving and Waverly streets, the 30,929-square-foot building features both office and retail tenants. Plousia LLC purchased the facility from Waverly & Hollis Realty Trust.
TEMECULA, CALIF. — Rossi Concrete Inc. has acquired a 10,830-square-foot office property, which is located at 31565 Rancho Pueblo Rd. in Temecula, for $3.35 million. Located within The Rancho Pueblo project, the property features a business park environment with courtyards, a water feature, ample parking, two-story elevator service and easy access to Interstate 15. Jeff Givens of Coldwell Banker Commercial Almar Real Estate Group and Keren Calder of Southern California Investors represented the buyer; Tapley Commercial Real Estate represented the seller, Covenant Development Inc., in the transaction.
CLEVELAND — Amin, Turocy & Calvin has signed a 14,000-square-foot lease at Key Tower in Cleveland. The intellectual property law firm will call the 57th floor home in early summer. The floor is the highest office space between New York City and Chicago. Scott Halloran of CB Richard Ellis represented the tenant in the transaction.
NEW YORK CITY — Public relations company Daniel J. Edelman has signed a 127,000-square-foot lease at 250 Hudson Street, a 15-story, 360,000-square-foot office tower in New York City. Located in the Hudson Square development, Edelman plans to relocate to the property in 2009. Mary Ann Tighe, Todd Lippman, Ken Meyerson and Fred Fackelmayer of CB Richard Ellis represented Edelman. The landlord, Jack Resnick & Sons, was represented in-house by Dennis Brady and Jonathan Dean.
COLLEYVILLE, TEXAS — Realty Capital Corp. (RCC) has completed the sale of a 4,415-square-foot office building located in Heritage Glade Office Park in Colleyville to a local doctor. The building, located at the intersection of Highway 121 and Glade Road, is part of the park’s four-building first phase. Phase II of the project, which will add 4,400 square feet, is scheduled to begin in March. Jobi Decker of RCC represented the seller, RCC Heritage Glade, in the transaction.