PRINCETON, N.J. — Jeffrey Dunne, Kevin Welsh and Jeffrey Oram of CB Richard Ellis’ New York Institutional Group have brokered the $13 million sale of Princeton Commerce Center, a 7-unit, single-story office complex in Princeton. Oestreicher Properties purchased the 70,985-square-foot building from Commerce Center at Princeton, LLC. Located at 29 Emmons Dr., the property is situated on 8.57 acres and contains a 5.1 per 1,000-square-foot parking ratio. Dunne, Welsh and Oram represented the seller and procured the buyer in the transaction. The sale was a 1031 exchange.
Office
BOSTON — The National Consumer Law Center (NCLC) has purchased 22,500 square feet of office space at Seven Winthrop Square for $5.5 million from Seven Winthrop Square, LLC. The five-story office building totals 27,000 square feet. NCLC purchased the second through fifth floors of Seven Winthrop Square, located at the corner of Otis and Summer streets in Boston’s financial district. Occupancy for NCLC, which is relocating from its 15,000-square-foot leased office space at 77 Summer St. in Boston, is slated for second quarter 2008. Tom Robinson and Jim Belli of The Codman Company represented the buyer in the transaction, and the seller was represented in-house.
NEW YORK CITY — The first branch of LibertyPointe Bank has opened in Brooklyn, New City. The branch, located at 1427 Coney Island Ave. in Brooklyn’s Midwood neighborhood, was developed by Boymelgreen Developers. Services for personal, retail and commercial banking customers are offered.
FORT WORTH, TEXAS — Westwood Contractors is scheduled to break ground on a 30,000-square-foot addition to Buxton’s corporate headquarters in Fort Worth. The addition will occupy part of a 3.5-acre tract of land and is being designed by Gideon Toal, a Fort Worth-based architecture firm. The existing 20,000-square-foot facility is located in the Mercantile Center off of Meacham Boulevard. The new wing will feature private conversation rooms, a media presentation room and amphitheater, and a kitchen and outdoor dining spaces. Completion is slated for summer 2008.
DECATUR, GA. — Day Capital Partners has purchased Decatur Court, a 10-story, 132,000-square-foot, 40-year-old office building in downtown Decatur. The landmark office building sits on West Ponce de Leon next to the downtown Decatur Square. A Kaufman Realty Group investor partnership sold the property. Kaufman Realty Group will continue to manage the office building.
FAIRLESS HILLS, PA. — Gerard McHugh of NAI Global has arranged the sale of an office building and two land parcels at the Keystone Industrial Port Complex in Fairless Hills. McHugh arranged the sale of an office building and 32 acres to AE Polysilicon. The buyer plans to renovate the office building for use as its world headquarters, and to construct a manufacturing facility to employ 143 people. In addition, McHugh arranged the sale of approximately 10 acres to Abington/Reldan Refining & Recycling, which plans to construct a precious metals recovery and refining facility on the property. Craig Nardi, formerly a NAI Global New York City corporate services team member, assisted in both transactions. The sale prices were undisclosed. NAI Global and its southern New Jersey affiliate, NAI Mertz, act as the property’s exclusive leasing agents.
HOUSTON — Shorenstein Properties recently acquired 2000 West Loop South, 356,700-square-foot office building located in the Galleria submarket of Houston. The 21-story property, which was built in 1970, is 98 percent occupied by tenants including United Healthcare, Live Nation and AM/FM Operating. The transaction also included a five-level, 1,299-space parking structure. Holliday Fenoglio Fowler represented the sellers, a group of tenant-in-common investors and Houston-based Means Knaus Partners.
HAYWARD, CALIF. — Ultra Clean Holdings will relocate their corporate headquarters in Menlo Park to a 103,711-square-foot facility in Hayward in February 2008. Corporate Research Center, located at 26462 Corporate Center Ave., will house the company. Jay Phillips and Jay Belquist of Cornish & Carey Commercial/ONCOR International’s client solutions group, Bill Banker of the Emeryville office and Randy Scott of the Palo Alto office represented the owner, LBA Realty, in the transaction. Marshall Hydorn, Craig Hagglund and Michael Spiro of NAI BT Commercial represented the tenant. Ultra Clean Holdings is a developer and supplier of critical subsystems for the semiconductor capital equipment industry.
GLEN CARBON, ILL. — Swansea, Ill.-based Holland Construction Services has completed Meridian Centre Two, a three-story, $2.1 million office building located in Meridian Commercial Park in Glen Carbon. The 25,000-square-foot building is located adjacent to Meridian Centre One, an identical building also constructed by Holland. Meridian Centre Two is developed and owned by Meridian Partners, a group of business partners that are all located in Meridian Centre One. Hurford Architects provided design services for the building.
LOWER SALFORD TOWNSHIP, PA. — The Philadelphia office of Skanska USA Building has been appointed construction manager for Almac’s new U.S. headquarters in Lower Salford Township. The $100 million facility will feature 240,000 square feet situated on a 40-acre site. New roadways, a storm/water retention and management system, on-grade parking, site utility infrastructures and landscaping will be included in the site development. Construction is expected to begin third quarter 2008, with completion slated for 2010.