BUFFALO GROVE, ILL. — Lou Malnati’s Pizzeria, famous for its Chicago deep-dish pizza, will consolidate several local properties and open a 125,000-square-foot headquarters in Buffalo Grove, a northern suburb of Chicago. The company will occupy space at 900-950 Busch Parkway in Lake County’s Corporate Grove Business Park. The property will serve as the company’s home office, e-commerce site, manufacturing plant and fulfillment center. Owned by The Missner Group, the building features 15,000 square feet of office space, eight docks and a clear height of 16 feet. Lou Malnati’s plans to occupy the space in spring 2022 following an extensive buildout. Ned Frank and Pat Hake of Colliers Chicago represented The Malnati Organization in the lease transaction. Brett Kroner of Cushman & Wakefield represented ownership.
DRAPER, UTAH — Bellevue, Wash.-based Sterling Realty Organization has purchased Vista Station, a Class A office portfolio in Draper. A joint venture between The Boyer Co. and Gardner Co. sold the asset for an undisclosed price. Located within Vista Station Office Park, the portfolio consists of four buildings totaling 541,678 square feet. Constructed from 2016 to 2018, the buildings feature solar panels and immediate access to FrontRunner at Draper Station. Kip Paul of Cushman & Wakefield and Eli Mills of CBRE represented the seller, while the buyer was self-represented in the transaction.
CUPERTINO, CALIF. — Madison Marquette has completed the disposition of De Anza Plaza, a single-tenant office property located in Cupertino. Cantor Fitzgerald Income Trust acquired the asset for $64 million. Apple has occupied the two-building campus since 2016. Andy Zighelboim, Robert Gilley, Brad Idelman, Kevin Moul and Andrew Gibson of Colliers represented the seller in the deal.
FLORHAM PARK, N.J. — The STRO Cos., a New Jersey-based investment firm, has acquired a 141,000-square-foot office and data center that is situated on a 14.4-acre site in the Northern New Jersey community of Florham Park. The company purchased the asset from Bank of New York Mellon (BNY), which also occupies the building, for an undisclosed price. Jose Cruz, Michael Oliver, Steve Simonelli, Kevin O’Hearn, J.B. Bruno, Jordan Avanzato and Michael Kavanaugh of JLL represented BNY in the transaction. Prudential Bank provided acquisition financing.
WILTON, CONN. — CBRE has negotiated the $3.7 million sale of a 47,040-square-foot office and industrial building in Wilton, located in Fairfield County. The property, which was built in 1965 and renovated in 2006, was vacant at the time of sale. Louis Zuckerman, Tom Pajolek and Pat Colwell of CBRE represented the undisclosed seller in the transaction. The team also procured the buyer, a joint venture between Fuller Development and Spinnaker Real Estate Partners that plans to reposition the property for residential use.
HOUSTON — A joint venture between owner-operator CP Group and funds managed by Miami-based Rialto Capital Management has acquired Five Post Oak Park, a 28-story office tower in Houston’s Galleria District. The property offers a 3,000-square-foot fitness center and a multi-use conferencing facility. The new ownership plans to implement a capital improvement program that will modernize the lobby and add a new coffee bar, restaurant space and outdoor dining space. The seller and sales price were not disclosed. The deal marks the latest collaboration in a series of recent transactions between Rialto Capital and CP Group, including the acquisition of the 1.2 million-square-foot CNN Center in Atlanta and of One Biscayne Tower in Miami.
NEW YORK CITY — Locally based landlord George Comfort & Sons has completed the renovation of 135 W. 50th St., a 925,000-square-foot office tower in Midtown Manhattan. Global architecture firm Gensler designed the project, which included the reimagining of the lobby and entrance, as well as the creation of a new tenant amenity center. This 20,000-square-foot space features collaborative workspaces, executive conference rooms, a game room, lounges and a bar area. George Comfort & Sons also installed wellness features such as touchless entry at main entrances, facial recognition software at security turnstiles, an upgraded air filtration system and touchless fixtures in all common area bathrooms.
WESTLAKE VILLAGE, CALIF. — Invesco Real Estate has completed the disposition of Westlake Park Place, a five-building office campus located in Westlake Village. A partnership between Amstar and Searles Property Group purchased the asset for $80.8 million. Delivered in 2008, Westlake Park Place features 239,003 rentable square feet of office space. At the time of sale, the property was 85 percent leased to a diverse mix of tenants. Kevin Shannon, Rob Hannan, Ken White and Laura Stumm of Newmark represented the seller in the deal.
PITTSBURGH — A partnership between nonprofit developer The University Financing Foundation (TUFF) and full-service firm Collaborative Real Estate has acquired Bridgeside Point, a 160,000-square-foot life sciences facility in Pittsburgh. The property is located adjacent to the University of Pittsburgh and Carnegie Mellon University campuses and includes lab, office and academic space. Patterson Real Estate Advisory Group arranged acquisition financing for the deal through Georgia-based Ameris Bank.
FARMINGTON HILLS, MICH. — Keystone Commercial Real Estate has brokered the sale of Federated Financial Center in Farmington Hills, a northwest suburb of Detroit. The sales price was undisclosed. Located at 30955 Northwestern Highway, the 33,662-square-foot office building will serve as the corporate headquarters of Happy’s Pizza, which is the parent company of Savvy Sliders. Greg Newman of Keystone worked with Happy’s to identify the location for the new headquarters, which is slated for occupancy this fall. The three-story building was constructed in 1987, according to LoopNet. Federated Financial Center Inc. sold the property to Blackstone 13 LLC.