HOUSTON — Colliers has brokered the sale of a 180,030-square-foot office building located at 450 Gears Road in North Houston. The eight-story building, which was originally constructed on 4.5 acres in 1984, includes a four-story parking garage and a conference center. David Carter, Doug Pack and Sam Hansen of Colliers represented the seller in the transaction. Evens Grandoit of Krueger Real Estate represented the buyer. Both parties requested anonymity.
FAIRFAX, VA. — KBS has sold Redwood Plaza I, II and III, a three-building office complex spanning 207,000 square feet in Fairfax. Arlington, Va.-based Network Realty Partners purchased the metro D.C. assets from KBS for $23 million. Jim Meisel, Matt Nicholson, Andrew Weir, Kevin Byrd and Dave Baker of JLL brokered the transaction. KBS has owned the Redwood Plaza buildings for more than 20 years and recently renovated the assets with new lobbies, a conference center, catering kitchen and community pantry and coffee. The campus also now includes a tenant lounge that offers arcade games, shuffleboard, free Wi-Fi, craft beer on tap and a 24-hour café.
HOUSTON — Cheniere Energy Inc. has signed a 151,490-square-foot office lease for its new global headquarters at Texas Tower, a 47-story building in downtown Houston. The space spans floors 12 through 16 and includes 16,000 square feet of private outdoor gardens and amenity areas. Chris Oliver, Trey Strake and David Guion of Cushman & Wakefield represented Cheniere in the lease negotiations. Michael Anderson, also with Cushman & Wakefield, represented the landlord, a joint venture between Hines and Ivanhoé Cambridge. The 1.2 million-square-foot tower is now 70 percent leased following deals with laws firms Vinson & Elkins, McGuireWoods and DLA Piper.
MIAMI BEACH, FLA. — SHVO, a New York City-based development and investment firm, plans to develop a 250,000-square-foot office building in Miami Beach. The firm, along with finance partner Deutsche Finance America, recently acquired an assemblage at 1656-1680 Alton Road and 1677 West Ave. near Lincoln Road for $39.3 million. Designed by Foster + Partners, the new office building will be branded The Alton and will feature 300 feet of frontage on Alton Road, terraced outdoor rooms and large windows offering panoramic views. SHVO and Foster + Partners recently collaborated on Transamerica Pyramid Center, a luxury office redevelopment in San Francisco. The design team for The Alton also includes locally based Kobi Karp Architects. No construction timeline was disclosed.
HOUSTON — NAI Partners has negotiated a 23,652-square-foot office lease at 945 Bunker Hill Road in West Houston. The property is located within the 300-acre Memorial City mixed-use development. Griff Bandy of NAI Partners represented the tenant, locally based oil and gas firm BW Energy USA Management, in the lease negotiations. Brad MacDougall and Warren Alexander of MetroNational represented the landlord on an internal basis.
SAN DIEGO — Brixton Capital has completed the sale of Lomas Pacific I & II, a two-building office park in the Kearny Mesa area of San Diego. San Diego-based MC Strauss Co. bought the property for $22.8 million. Scripps Health, Q.E.D. and Patenaude & Felix A.P.C. are tenants at the 88,522-square-foot asset, which is located at 9619 Chesapeake Drive and 9444 Farnham St. At the time of sale, the property was 84.4 percent leased. After acquiring the property in 2015, Brixton renovated the asset, including repainting the exterior, upgrading the landscaping and remodeling all the lobbies and common areas. The company also addressed deferred maintenance and modernized building operating systems. Rick Reeder, Brad Tecca, Bill Cavanaugh and Mike Novkov of Cushman & Wakefield represented the seller, while the buyer was self-represented in the deal. Bill Cavanagh, Duncan Dodd and Mike Novkov of Cushman & Wakefield also provided leasing advisory.
BOCA RATON, FLA. — A partnership between Pebb Enterprises and Contrarian Capital Management has purchased Meridian Office Center, two single-tenant net-leased office buildings situated within The Park at Broken Sound in Boca Raton. Christian Lee, Marcos Minaya and Sean Kelly of CBRE Capital Markets, represented the seller, Ivy Realty, in the $29.9 million transaction. Cross Country Healthcare occupies the 70,406-square-foot building located at 6551 Park of Commerce Blvd., and Lexis Nexis occupies the 61,274-square-foot building located at 6601 Park of Commerce Blvd. Professional Bank provided acquisition financing for the deal. Meridian Office Center is Pebb’s third acquisition within the 700-acre Park at Broken Sound development, which is situated off I-95.
NORTH CHARLESTON, S.C. — Marcus & Millichap has arranged the sale of North Rhett Executive Center, a 64,800-square-foot office building located at 5617 N. Rhett Ave. in North Charleston. An out-of-state buyer purchased the building for $16.9 million. Ani Paulson and Pearce Vogler of Marcus & Millichap represented the undisclosed seller in the transaction. Built in 2008 near the Joint Base Charleston and Charleston International Airport, North Rhett Executive Center is anchored by the Department of Defense.
COLORADO SPRINGS, COLO. — NAI Highland has arranged the sale of a two-building office and industrial portfolio, located at 1120-1140 Moreno Ave. in Colorado Springs. The asset traded for $2.8 million. The terms of the transaction were not disclosed. Situated on 2.2 acres, the property consists of a 10,187-square-foot office building and a 3,200-square-foot industrial building. Randy Dowis and Bob Garner of NAI Highland handled the transaction.
PITTSBURGH — Developer Westrise Capital has completed Launchpad, a 60,000-square-foot redevelopment project located in between Pittsburgh’s downtown and West Oakland areas. The site at 304 Jumonville St., which previously housed an industrial laundry facility that served a local hospital, can now support office, technology, life sciences, research and development or light manufacturing and assembly uses. JLL is marketing the property for lease.