AUSTIN, TEXAS — An ownership group led by an affiliate of Houston-based investment and management firm Vista Cos. has sold Vista Park Central, a 115,000-square-foot office building located on Parmer Lane on the north side of Austin. The property was 93 percent leased at the time of sale. Kelsey Shebay and Drew Fuller of JLL represented Vista Cos., as well as the California-based buyer, in the transaction.
ANDOVER, MASS. — Newmark has negotiated the $151 million sale of a four-building office complex that is situated within Minuteman Park, a corporate campus located about 25 miles north of Boston in Andover. The buildings at 30, 100 and 200 Minuteman Road, along with the property at 138 River Road, total approximately 600,000 square feet. Robert Griffin, Edward Maher, Matthew Pullen, Samantha Hallowell and William Sleeper of Newmark represented the seller, Spear Street Capital, in the transaction. The buyer was not disclosed.
DURHAM, N.C. — JLL Income Property Trust has purchased Duke Medical Plaza at Patterson Place, a 59,978-square-foot medical office building in south Durham. Brannan Knott, John Mikels, Daniel Flynn and Woody Flythe of JLL Capital Markets represented the seller, an entity doing business as BP Phase2 LLC, and procured the buyer. The sales price was not disclosed. Completed in 2010, Duke Medical Plaza at Patterson Place is fully leased with Duke Health leasing more than 80 percent of the space. The property offers a variety of services, including dermatology, micrographic surgery, radiology, women’s health, urogynecology and obstetrics/gynecology (OB/GYN). Located at 5324 McFarland Dr., the four-story property is situated adjacent to Patterson Place Shopping Center. Additionally, the medical office facility is situated at the intersection of U.S. 15/501 and Interstate 40. The property is also 5.3 miles from Duke University, 6.3 miles from Duke University Hospital and 5.3 miles from UNC Medical Center.
DOWNERS GROVE, ILL. — JLL Capital Markets has arranged the sale of Corridors I and II, a two-building office portfolio totaling 301,606 square feet in the Chicago suburb of Downers Grove. The sales price was undisclosed. Built in the late 1990s, the properties are located at 2651 and 2655 Warrenville Road with immediate access to I-88 and I-355. The five-story buildings are fully leased to tenants such as Huntington, Oak Street Health and Citgo. Amenities include a fitness center, conference facility, deli, tenant lounge and parking garage. Patrick Shields, Sam DiFrancesca, Jaime Fink, Jeff Bramson and Bruce Miller of JLL represented the seller, Soundview Real Estate Partners. The team also procured the buyer, Group RMC.
COPPELL, TEXAS — Nashville-based medical consulting firm PathGroup has signed a 126,596-square-foot lease to occupy the entirety of 121 Corporate Center, an office and laboratory building in Coppell, located near Dallas-Fort Worth International Airport. Dean Collins, Mark Collins, Jason Dodson, Michael Sessa and Jack Keenan of Cushman & Wakefield represented PathGroup in the lease negotiations. Nathan Durham and Duane Henley of Newmark represented the landlord, a partnership between Blackstone and Link Logistics Real Estate.
ANDOVER, MASS. — Newmark has negotiated the $190 million sale of 3000 Minuteman Road, an office development that is situated within Minuteman Park, a corporate campus located about 25 miles north of Boston in Andover. According to LoopNet Inc., the property consists of six buildings totaling roughly 700,000 square feet on a 120-acre site along the Merrimack River. Robert Griffin, Edward Maher, Matthew Pullen, Samantha Hallowell and William Sleeper of Newmark represented the seller, Atlantic Management, in the transaction. The buyer was not disclosed.
NEW FAIRVIEW, TEXAS — Rockhill Capital and Investments has acquired Shoop Ranch, a 1,807-acre plot of land in New Fairview. The tiny city of fewer than 2,000 residents is located approximately 30 miles northwest of downtown Fort Worth. Rockhill plans to build a massive mixed-use project on the site, which will include 4,150 single-family homes, 900 multifamily residences, shops, restaurants, offices, public spaces and government buildings such as schools, a town hall, public pool and fire station. “The [city] council and staff are focusing on maintaining our current rural feel, natural elements and open space, while creating a development and city center where people can live, work and play,” says Ben Nibarger, New Fairview’s city administrator. He notes that the city and Rockhill have been planning the development for about a year. “New Fairview is in a position for growth, and we are working with the city to thoughtfully plan a thriving community that will satisfy the needs for a city hub and additional housing, while also celebrating the area’s natural beauty,” says Jennifer Alexander, project manager at Rockhill Capital and Investments. The Shoop Ranch property features more than 1.5 miles of Oliver Creek, which offers fishing locations for bass …
HOUSTON — JLL has negotiated the sale of 1500 Citywest, a 192,313-square-foot office building in Houston’s Westchase District. Built on roughly four acres in 1981, the property was 65 percent leased at the time of sale, primarily to tenants in the energy and engineering sectors. Rick Goings and Jack Moody of JLL represented the seller, a partnership controlled by Salt Lake City-based Bridge Investment Group, in the off-market transaction. Josh Morrow and Collin Roach of Avison Young represented the buyer, locally based commodities trader BioUrja Group.
SPRINGDALE, OHIO — Northmarq has arranged a $6.3 million loan for the acquisition of Executive Plaza III in Springdale, a northern suburb of Cincinnati. The 89,327-square-foot office building is located at 135 Merchant St. Christina Grimme of Northmarq arranged the 25-year loan, which is fully amortized and features a loan-to-value ratio of 80 percent. A local bank provided the loan. The borrower was not disclosed.
ST. LOUIS — Green Street Real Estate Ventures and its affiliate companies have moved into a new headquarters located at 4565 McRee Ave. in The Grove neighborhood of St. Louis. The move combines six companies and 80 employees under one roof to include Green Street, Green Street Building Group, Green Street Property Management, Emerald Capital Strategic Advisors, HDA and O’Toole Design Associates. Designed by HDA with interiors done by O’Toole, the building spans 46,000 square feet. Green Street’s new headquarters is part of a $21 million mixed-use development that includes the first St. Louis location of Bar K, a dog park and bar.
