CRANBURY, N.J. — Matrix Development Group has purchased 2 Centre Drive and 8 Centre Drive, two single-story office buildings in Cranbury that total 32,331 square feet of office space. The buildings are adjacent to Matrix Development Group headquarters and are part of an 11-building campus adjacent to the Forsgate Country Club. Less than 2 miles from the New Jersey Turnpike’s Exit 8A Interchange, the properties also offer immediate access to Route 130. Office space offered in 2 Centre Drive totals 16,132 square feet, while 8 Centre Drive provides 16,199 square feet. The buildings’ suites range in size from 1,700 to 16,000 square feet and are available for lease. Construction is underway to upgrade the buildings’ signage, landscaping and common areas. The seller and sale price were undisclosed.
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MILFORD, CONN. — Computil Corp. has purchased 256 Seaside Avenue, a 2,400-square-foot office building in Milford, from Suman Gupta for $475,000. The buyer plans to use the property, situated on 0.42 acres, as its corporate headquarters. Fidelity Real Estate represented the buyer in the transaction, and Michael Richetelli of Colonial Properties represented the seller.
MIDDLETON, WIS. — Siegel-Gallagher ONCOR International has arranged the sale of a 151,000-square-foot office property located at 1800 and 1850 Deming Way in Middleton. The property consists of a four-story, 86,000-square-foot office building, as well as a single-story, 65,000-square-foot flex building. Craig Stanley, Patrick Gallagher and Tim Rikkers of Siegel-Gallagher represented the seller, Santa Barbara, Calif.-based Fidelity National Information Services. The property was acquired by Denver-based Old Vine Acquisition Corp. The acquisition price was not disclosed.
MILWAUKEE — Brewery Project LLC has completed the sale of Building 14 at the former Pabst Brewery located in downtown Milwaukee to Milwaukee-based BC Pabst Holdings. The three-story building, which was formerly the research lab building, contains 28,000 square feet of space, as well as a 1,200-square-foot penthouse with city skyline views. The owner plans to convert the space into an office building, with the penthouse being converted into a conference room. Mike Kleber of Milwaukee-based Towne Investments brokered the transaction. BC Pabst Holdings is a collection of local real estate developers, including Matt Chmura, Mark Chmura and Sonny Bando. Building 14 is the fourth building sold in the Brewery Project, which encompasses the redevelopment of the historic Pabst Brewery. The acquisition price was not disclosed.
WOODBRIDGE, CONN. — The Boston office of CBRE | Capital Markets has arranged on behalf of the borrower, APCA Woodbridge, $4.9 million in acquisition financing for 1764 Litchfield Turnpike in Woodbridge. The 49,790-square-foot Class A office building is known as Woodbridge Corporate Center. Situated on a 7.95-acre lot, the multi-tenant building is 95 percent occupied and provides access to major transportation routes. Michael Prakken and Deborah Dalton of CBRE | Capital Markets secured financing for the borrower, an affiliate of Boston-based Ashforth Paradigm Capital Advisors. Equitrust Life Insurance Co. arranged the 5-year, fixed-rate, non-recourse loan.
AUSTIN, TEXAS — Stream Realty Partners has acquired a 97,594-square-foot office property in Austin. Located at 8100 Cameron Rd., the property features two, two-story buildings. The buyer was represented in-house by Derek Land, and Walter Saad and Cathy Nabours of CBRE private client group represented the undisclosed seller. The buyer plans to renovate the lobby and common areas. The acquisition price was undisclosed.
SANTA ANA, CALIF. — Meridian Value Partners has acquired The Arbors, a 50,812-square-foot office complex located at 2101 E. Fourth St. in Santa Ana, for $9.3 million. The two-story, multi-tenant complex sold at a cap rate of 6.18 percent. Ryan Gallagher of Grubb & Ellis represented the buyer; Greenwood & McKenzie represented the seller, Arbors Tenant in Common Group, in the transaction.
JACKSONVILLE, FLA. — Birmingham, Ala.-based BP Graham has acquired a 220,000-square-foot office building in Jacksonville for $22.3 million. The 14-story, Class A building is located at 550 Water St. and features a deli, on-site parking and views of downtown and the St. Johns River. Tenants include Verizon, Interline Brands, Blue Cross/Blue Shield and MCI. Peter Crolius of Hollywood, Fla.-based Graham & Co./CORFAC International represented the buyer. Lou Nutter of CB Richard Ellis represented the undisclosed seller.
KANSAS CITY, MO. — Chicago-based ORIX Real Estate Capital has acquired a 94,846-square-foot office building located at 300 Wyandotte Ave. in Kansas City. The building features floor-to-ceiling glass windows, exterior aluminum sunscreens and a 388-space underground parking garage. The building is anchored by sports architecture firm HOK Sports, which occupies 81 percent of the fully leased building. Eric Wollan and Brian Murphy arranged the acquisition for ORIX in-house; Eric Berkman of Grubb & Ellis’ Washington D.C. office represented the seller, Opus Estates, in the transaction. The acquisition price was not disclosed.
LYNNWOOD, CALIF. — Wells Fargo REIT II has acquired Northpointe Corporate Campus, a new two-building Class A office development located on 25th Avenue in Lynnwood. The property consists of an approximately 87,000-square-foot facility, which is 100 percent leased to Comcast, and a 69,000-square-foot building. Cushman & Wakefield represented the seller, Opus Northwest LLC, in the transaction. The acquisition price was not disclosed.