NEW YORK CITY — Reidy Contracting Group has signed a 7,723-square-foot office lease at The Banks Building, located at 58 W. 40th St. in Manhattan. Michael Nazarian and Matt Kashani of Norman Bobrow & Co. represented the tenant, which is expanding and relocating from a 4,000-square-foot space at 120 West 31st Street, in the lease negotiations. Laura Belt Ponomarev represented the landlord, an entity doing business as 58-64 40th St. Corp., on an internal basis.
LOS ANGELES — Newmark has arranged the sale of Hollywood Media Campus, a 3.5-acre site located at 1350 N. Western Ave. in the Hollywood neighborhood of Los Angeles. New York City-based The Georgetown Co. acquired the asset from Pasadena-based Gemdale USA for $93 million. The site features a fully leased, 75,593-square-foot office building and an adjacent development parcel. Netflix fully occupies the office building under a sublease from master lessee Zest Finance. The development parcel is a 1.7-acre site with the right to build in accordance with current zoning and the opportunity to increase density with a zoning change. Kevin Shannon, Ken White, Rob Hannan and Laura Stumm of Newmark represented the seller in the deal.
BURLINGTON, MASS. — SVN | Parsons Commercial Group | Boston has arranged the $8.8 million sale of a 40,000-square-foot office/flex building in Burlington, a northern suburb of Boston. The building sits on three acres just off Route 128 and across from the Burlington Mall. Marci Alvarado of SVN represented the seller, a partnership between two limited liability companies, in the transaction. Dean Blackey and Elizabeth Holmes of RW Holmes represented the buyer, ACCO Properties LLC.
EDEN PRAIRIE, MINN. — JLL Capital Markets has brokered the $23.5 million sale-leaseback of 11000 Viking Drive, a two-building office campus totaling 258,850 square feet in the Minneapolis suburb of Eden Prairie. Colin Ryan, David Berglund and Pat Williams of JLL represented the seller, photography company Shutterfly LLC, and the buyer, Tempus Real Estate Partners. Shutterfly will continue to occupy the east building, which rises five stories and was built in 2004. The City of Eden Prairie plans to tear down the vacant west building, which rises four stories and was constructed in 1997. The space will be utilized for native grasses, wildflowers and a paved trail.
NEW YORK CITY — CBRE has negotiated a 20,293-square-foot office lease at 444 Madison Avenue in Midtown Manhattan. The tenant will occupy the entire 10th floor of the 42-story building, which was recently renovated. Paul Amrich, Meghan Allen, James Ackerson and Max Tarter of CBRE represented the landlord, Westbrook Partners, in the lease negotiations. The representative of the tenant, The Doris Duke Management Foundation, was not disclosed.
CHICAGO — The Hearn Co. has unveiled plans to convert four floors of 875 North Michigan Avenue in Chicago into clinical and surgical space named the Mag Mile Medical Pavilion. Hearn has selected Cushman & Wakefield to lease the building-within-a-building concept. Hearn plans to invest more than $10 million into converting floors 28 through 30 and 33, totaling 130,000 square feet, into medical office space. There will be a dedicated valet entrance, patient drop-off and pickup on the north side and a dedicated elevator bank. Completion is slated for the second quarter of this year. The 100-story property was formerly known as the John Hancock Center. Karoline Eigel, Matt Sullivan, Lindsey Groom and Jack Seher of Cushman & Wakefield make up the leasing team.
DETROIT — National design firm HED has completed the design of the new Detroit office for Warner Norcross + Judd law firm. The tenant occupies the third floor of 2715 Woodward, a Class A building. The law firm’s office features open workspaces as well as 50 private offices as well as a law library, media room, kitchen and reception area. Warner maintains eight other offices throughout Michigan.
STAMFORD, CONN. — Colliers has secured an 11,500-square-foot office lease at 1 Landmark Square in Stamford, located in the southern coastal part of the state. Jeffrey Williams and Hollis Pugh of Colliers represented the tenant, law firm Silver Golub & Teitell LLP, which will occupy the 15th floor of the 299,000-square-foot building, in the lease negotiations. Larry Kwiat of Reckson Associates Realty represented the landlord, SL Green.
LONG BEACH, CALIF. — Holland Partners has purchased Congressional Place, a two-story office building in Long Beach. ValueRock Partners sold the asset for $41 million. Situated on 2.5 acres at 6700 E. Pacific Coast Highway, the 73,769-square-foot will be redeveloped into a multifamily property. Chris Benton, Anthony Muhlstein, Kevin Shannon, Bill Bauman, Ken White and Seal Fulp of Newmark represented the seller in the deal.
PHOENIX — Phoenix-based ViaWest Group and New York-based Taconic Capital Advisors have completed the disposition of Concorde Commerce Center, a three-story office building in Phoenix. Idaho-based Stafford Holdings acquired the asset for $23 million. Located at 2222 W. Dunlap Ave., the 140,161-square-foot property features a two-story atrium lobby. At the time of sale, the building was 84 percent leased to Ciox/Datavant, a health data provider, and Kiewit, a construction and engineering company. Barry Gabel, Chris Marchildon, Geoff Turbow, Matt Pourcho, Anthony DeLorenzo and Gary Cornish of CBRE represented the seller in the transaction.