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GeorgiaLeasing ActivityLife SciencesOfficeSoutheast

Shriners Children’s Signs Multi-Floor Lease at Science Square Labs in Midtown Atlanta

by John Nelson

ATLANTA — Shriners Children’s, a global pediatric healthcare system, has signed a multi-floor lease for research-and-development space at Science Square Labs, a 368,213-square-foot laboratory and office tower in Midtown Atlanta. The project, owned and developed by Trammell Crow Co., is part of Georgia Tech’s 18-acre Science Square innovation district. Shriners Children’s Research Institute will feature next-generation laboratories, modern collaborative workspaces and advanced technology infrastructure. The move is expected to bring more than 470 jobs to Atlanta. With Shriners Children’s new lease, Science Square Labs is now 83 percent leased to tenants including Duracell, Georgia Tech & Emory BioMedical Engineering faculty labs, the Georgia Department of Agriculture, Portal Innovations and Osmose. Eric Ross, Jessica Doyle and Graham Little of CBRE represented Trammell Crow Co. in the lease negotiations.

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FloridaLeasing ActivityOfficeSoutheast

Blanca CRE Arranges 78,315 SF Office Lease in Miami for ADP

by John Nelson

MIAMI — Blanca Commercial Real Estate (Blanca CRE) has arranged a 78,315-square-foot office lease at Waterford Business District in Miami. ADP, a global HR and payroll solutions provider, will relocate its current Miami office at 10200 Sunset Drive to the Waterford campus at 65th Avenue and 7th Street, adjacent to Miami International Airport. Juan Ruiz, Andres del Corral, Jack Davidson, Tere Blanca and Jessy Aguila of Blanca CRE represented the undisclosed landlord in the lease negotiations. Other recent leases executed at the 250-acre Waterford campus include Carnival Corp., Assurant and Verizon, among other major firms.

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9501-Hillwood-Dr-Las-Vegas-NV
AcquisitionsNevadaOfficeWestern

CBRE Arranges $6.4M Sale of Las Vegas Office Property

by Amy Works

LAS VEGAS — CBRE has arranged the sale of a 24,362-square-foot office property located at 9501 Hillwood Drive in Las Vegas. A local owner-user acquired the asset from Hillwood Properties LLC for $6.4 million. The property features an outdoor amphitheater, rotunda entrance and an auditorium. Marc Magliarditi of CBRE represented the seller in the deal.

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AcquisitionsNew JerseyNortheastOffice

Aucta Pharmaceuticals Buys 52,000 SF Office Building in Basking Ridge, New Jersey

by Taylor Williams

BASKING RIDGE, N.J. — Aucta Pharmaceuticals, which specializes in the development and commercialization of branded specialty products, has purchased a 52,000-square-foot office building in Basking Ridge, about 35 miles west of New York City, for its new headquarters. Local brokerage firm The Kislak Co. represented Aucta Pharmaceuticals in the $4.6 million acquisition. The seller was not disclosed.

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AcquisitionsNew YorkNortheastOffice

Brax Realty Negotiates $13.2M Sale of Office Building in Manhattan’s Flatiron District

by Taylor Williams

NEW YORK CITY — Local brokerage firm Brax Realty has negotiated the $13.2 million sale of an office building in Manhattan’s Flatiron District. According to LoopNet Inc., the six-story building at 174-176 5th Ave. was constructed in 1900 and totals 21,588 square feet. The building also houses commercial space that is leased to Eisenberg’s Sandwich/S&P and State & Liberty. Michael Ferrara and Cole Kinney Leonhardt of Brax Realty brokered the deal. The buyer and seller were not disclosed.

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2505-S-80th-St-Tacoma-WA
AcquisitionsHealthcareOfficeWashingtonWestern

Marcus & Millichap Brokers Sale of 27,199 SF Medical Office Building in Tacoma, Washington

by Amy Works

TACOMA, WASH. — The Vara Group of Marcus & Millichap has arranged the sale of NVA Referral Center, a net-lease property in Tacoma. A limited liability company sold the asset to an undisclosed buyer for $12.6 million. NVA Summit Veterinary Management LLC occupies the 27,199-square-foot property on a 10-year triple-net lease basis. The property is located at 2505 S. 80th St. Matthew Herman and RJ Vara of The Vara Group of Marcus & Millichap represented the seller in the deal.

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AcquisitionsDelawareNortheastOffice

Buccini Pollin Buys Three Office Buildings Totaling 252,000 SF in Wilmington, Delaware

by Taylor Williams

WILMINGTON, DEL. — Regional investment firm Buccini Pollin Group has purchased three office buildings totaling approximately 252,000 square feet within Bellevue Park Corporate Center, a 52-acre campus in Wilmington. The purchase includes two four-story office buildings and a historic mansion that serves as a private amenity space for tenants. Jim Galbally and Brett Segal of JLL represented the undisclosed seller in the transaction. Buccini Pollin also owns three other buildings within Bellevue Park Corporate Center and has invested $1.1 million in capital improvements to the campus this year.

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4646-W.-Sam-Houston-N
AcquisitionsOfficeTexas

JLL Brokers Sale of 225,000 SF Vacant Office Building in Northwest Houston

by Taylor Williams

HOUSTON — JLL has brokered the sale of a 225,000-square-foot, vacant office building in  northwest Houston. The nine-story building at 4646 W. Sam Houston N was built in 2001 within the 150-acre Westway Park master-planned development and was most recently leased to oilfield services company Schlumberger, now known as SLB. Marty Hogan and Kevin McConn of JLL represented the undisclosed seller in the transaction. The buyer was US Property Management.

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AcquisitionsKansasMidwestOfficeRetail

KBS Sells 10-Building Park Place Village Office, Retail Property in Leawood, Kansas for $100M

by Kristin Harlow

LEAWOOD, KAN. — KBS has sold Park Place Village, a 10-building, 484,980-square-foot office and retail property in the Kansas City suburb of Leawood, for $100 million. DFW Land, a development company that specializes in the acquisition, development and sale of land in the Dallas-Fort Worth Metroplex area, was the buyer. Park Place Village was owned by KBS Real Estate Investment Trust III and purchased in 2015. Developed in phases between 2007 and 2013, the property features amenities such as boutique shops, upscale restaurants, a fitness center, bike storage, electric vehicle charging stations, onsite parking and a rooftop terrace. The surrounding area is home to shopping and entertainment venues, parking garages, the Aloft Hotel, 201 apartment units, 30 townhouses and 27 lofts. The asset was fully leased at the time of sale. Derek Fohl and Gary Carr of Newmark represented KBS in the sale with support from the brokerage firm’s Jim Postweiler, Peter Harwood, Jack Trager, Jake Paschen, Robert Hill, Chris Murphy and Austin Sheehan. Attorneys Bruce Fischer and Howard Chu along with paralegal Amanda Kennedy of Greenberg Traurig LLP represented KBS as legal counsel in the disposition. Ari Schwartzbard and Bill Weber of Newmark arranged a $62 million acquisition loan on …

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DevelopmentMidwestMinnesotaOffice

Opus Breaks Ground on 115,000 SF Spec Office Building in Edina, Minnesota

by Kristin Harlow

EDINA, MINN. — Opus has broken ground on Arcadia, a 115,000-square-foot speculative office building at 5100 Eden Ave. in the Minneapolis suburb of Edina. The building will also serve as the developer’s headquarters. Arcadia is located in Edina’s Grandview District on the site of the former Eden 100 building. The development will include a six-story, multi-tenant office building with amenities such as a lobby with fireplace, gathering spaces, conference rooms, an employee training room, private tenant clubroom, workout facility and outdoor terrace. Opus is the developer and design-builder and will occupy Arcadia’s top floor, taking approximately 28,000 square feet. Joe Conzemius, Larissa Bodine, Anne Rinde and Elle Westphal of CBRE are marketing the remaining space for lease. ESG Architecture & Design is the architect of record.

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