NEW YORK CITY — Private equity firm Corsair Capital has signed a 23,919-square-foot office lease at 550 Madison Avenue in Midtown Manhattan. Since opening in 1984, the 41-story building has housed the operations of two tenants: AT&T and Sony. Silvio Petriello and Chris Corrinet of CBRE represented the tenant in the lease negotiations. Mary Anne Tighe, Howard Fiddle and Scott Gottlieb, also with CBRE, represented the landlord, The Olayan Group, which acquired the asset in 2016 and implemented a value-add program.
EL MONTE, CALIF. — Rising Realty Partners and Brasa Capital Management have completed the disposition of Telstar Building, an industrial and office building at 9320 Telstar Ave. in El Monte. Majestic Asset Management acquired the property for $73 million. Michael Longo, Todd Tydlaska, Sean Sullivan, Darla Longo, Will Pike, Melissa Moock, Anthony DeLorenzo and Mark Shaffer of CBRE represented the seller in the transaction. The County of Los Angeles leases the entire 248,961-square-foot building and recently renewed its lease for the property. The renewal also included an 86,961-square-foot expansion of industrial space. The tenant houses its public health, public social services and children and family services departments at the facility. Situated on 7.9 acres, the building features 67 percent office space, 33 percent industrial space and 627 parking spaces.
DENVER — A joint venture led by Corum Real Estate Group and Koch Real Estate Investments has purchased 210 University, an office and retail property located in Denver’s Cherry Creek North district. The price was not disclosed Totaling 140,832 square feet, 210 University was 89.4 percent occupied at the time of sale. Current tenants include Baird, US Bank, Cherry Creek Imaging and Western Veterinary Partners. The building includes two ground-floor retail spaces occupied by Little Ollie’s and Paradise Cleaners. Additionally, the asset includes one of the largest parking garages in Cherry Creek North. Peter Merrion, Mark Katz and Hilary Barnett of JLL Capital Markets’ investment sales and advisory team represented the undisclosed seller in the transaction. Kristian Lichtenfels, William Haass and Leon McBroom of JLL Capital Markets’ debt advisory team secured a five-year, interest-only, fixed-rate loan with a national balance-sheet lender for the buyer.
OVERLAND PARK, KAN. — Occidental Management has launched a 45,000-square-foot coworking space at its Aspiria office campus in Overland Park. Named Aspiria NOW, the coworking concept provides members with multiple membership options and workspace configurations. Amenities included in the membership packages include onsite Wi-Fi, free covered parking, printing allowances, fully equipped conference rooms, 24/7 security, dining options and free membership to the fitness center. Occidental hired coworking expert Robert Curland to help launch and run Aspiria NOW.
RANCHO PALOS VERDES, CALIF. — PSRS has arranged a $6.4 million cash-out refinancing for an office property in Rancho Palos Verdes. Harbor Cove Plaza is a 45,837-square-foot, multi-tenant office building offering 65 units. Trevor Blood of PSRS secured the five-year loan with a 25-year amortization schedule. The name of the borrower was not released.
ANDOVER, MASS. — Global technology firm Broadcom has signed a 60,000-square-foot office lease renewal at 100 Brickstone Square in the northern Boston suburb of Andover. Brickstone Square was originally constructed in 1922 and recently underwent a capital improvement program that delivered expanded café services, a fitness center, onsite bistro, game room and a new outdoor patio and courtyard. Blake Baldwin, Shayne O’Neil and Petra Flynn represented the landlord, KS Partners, in the lease negotiations. John Wilson of CBRE represented the tenant.
NEW YORK CITY — CBRE has negotiated a 15,279-square-foot office lease at 750 Seventh Avenue, a 36-story office building in Midtown Manhattan that was originally built in 1990. Howard Fiddle, Brett Shannon, Arkady Smolyanky, Evan Fiddle and Jacob Rosenthal of CBRE represented the landlord, an entity doing business as 750 Seventh Ave NY LLC, in the lease negotiations. Matthias Li and Cole Chartash of Cushman & Wakefield represented the tenant, Korean financial institution Shinhan Bank, which will occupy the entire 26th floor.
DENVER — Denver-based Flywheel Acquisitions has purchased an infill office building on nearly 2.3 acres in Denver. 4100 Investors LLC sold the asset for $14.7 million. A single tenant occupies the full, three-story property. Aaron Johnson, Jon Hendrickson and Mitch Veremeychik of Cushman & Wakefield represented the seller in the transaction. Located at 4100 E. Arkansas, the 63,335-square-foot asset is surrounded by walkable restaurant and retail amenities. Additionally, the property offers a fitness center in the building.
JACKSONVILLE, FLA. — JLL has arranged the sale of 701 San Marco, a 700,000-square-foot office tower located in the Southbank district of downtown Jacksonville. Hermen Rodriguez, Robbie McEwan, Ike Ojala, Matthew McCormack and Peter Politi of JLL represented the seller, The Prudential Insurance Company of America, in the sale of the property to Bradford Allen Investment Advisors. The sales price was not disclosed. 701 San Marco represents the second major investment in Jacksonville for Bradford Allen. The property comprises a seven-story west wing and a 19-story east wing connected by a pedestrian walkway over San Marco Boulevard. Amenities include 13 conference rooms, restaurant space on the ground floor, a 282-seat cafeteria, 1,277 garage parking spaces and 945 surface parking spaces. The property is currently 60 percent leased to tenants including Prudential Insurance, Interline Brands and The Army Corps. of Engineers. The property is positioned on 14.5 acres within steps of the popular St. John’s Riverwalk.
GARDEN GROVE, CALIF. — Pacific Development Partners has completed the disposition of Concorde Career College, a two-story office property in Garden Grove. Brooklyn Cos. acquired the asset for $14 million. The transaction also included rights to 4.2 acres of land in Garden Grove. Located at 12951 S. Euclid St., the building features 45,451 square feet of office space. At the time of sale, the property was fully leased to Concorde Career College. The asset has served as a medical and dental vocational school since 1999. Sean Fulp, Ryan Plummer, Mark Schuessler, Paul Jones and Brandon White of Newmark represented the seller in the in the deal. Norman Lee and Jason Roth of Newmark secured financing for the buyer.