CHARLOTTE, N.C. — Willis Towers Watson has signed a 22,000-square-foot, 11-year lease at Forest Park IV, a 62,000-square-foot office building in Charlotte. The London-based advisory firm is the first tenant to sign a lease at the single-story building, which is owned by Wakefield, Mass.-based Franklin Street Properties Corp. The property is situated at 600 Forest Pointe Circle, nine miles southwest of downtown Charlotte.
YORBA LINDA, CALIF. — Faris Lee Investments has arranged $39.6 million in financing for Packing House Square, a mixed-use center located at 18180-18389 Yorba Linda Blvd. in Yorba Linda. The borrower is an undisclosed private investment company. Loan proceeds will be used to reposition the asset as a medical arts plaza with a medical anchor tenant; renovate the existing retail plaza by adding an additional 11,450-square-foot corner retail wing; and re-tenant the vacant units. Jay Quinn and Kirt Boultinghouse of Faris Lee sourced the three-year bridge loan with Los Angeles-based Ares Management. Nick Coo, Matt Brooks and Joe Chichester of Faris Lee represented the borrower in the financing and marketing of the property.
TULARE AND FRESNO, CALIF. — Newmark Pearson Commercial has facilitated the sales of two office buildings in Tulare and Fresno. In the first transaction, an undisclosed investor acquired a 5,000-square-foot office building located at 793-799 N. Cherry St. in Tulare. Tulare Local Healthcare District sold the asset for an undisclosed price. Luke Tessman of Newmark Pearson Commercial was the agent. In the second deal, Surdeep Singh Family Limited Partnership sold a 5,135-square-foot office building located at 6065 N. First St. in Fresno. Lagattuta Land LLC acquired the property for an undisclosed price. Scott Christensen of Newmark Pearson Commercial, in cooperation with David Rodkin of ADR Preferred, handled the transaction.
PARK RIDGE, N.J. — NAI James Hanson has negotiated a 12,015-square-foot office lease renewal for Amica Mutual Insurance Co. in Park Ridge, a northwestern suburb of New York City. The space is located at One Maynard Drive, a three-story, 139,000-square-foot office building. Amica Mutual has been a tenant at the Class A building for nearly 20 years. The property is located near a fitness center and several retail centers, including the Wegmans-anchored Shoppes at Depiero Farm shopping center. Andrew Somple, Justin Allessio and Judy Troiano of NAI James Hanson represented the landlord, Sartak Holdings Inc., in the lease negotiations
STRATFORD, CONN. — Tapestry TeleHealth, a technology company that provides onsite and virtual healthcare to rural nursing facilities, has signed a 2,873-square-foot office lease in Stratford. The space is located at Merritt 8 Corporate Park, a 174,000-square-foot office complex. Yale New Haven Health Systems is the anchor tenant of the building. Randy Vidal of Vidal/Wettenstein LLC represented Tapestry TeleHealth in the lease negotiations. The landlord is a partnership of Merritt 8 Owner LLC and C/O Mountain Development Corp.
CHANDLER, ARIZ. — Scottsdale, Ariz.-based Chandler Commercial Building B, a local private investor, has purchased the Vertex Education building, a single-story office building located at 3125 S. Gilbert Road in Chandler. Locally based Chandler CSO LLC sold the property for an undisclosed price. Situated within Chandler Airpark, the 28,187-square-foot Class A office building was developed in 2018 for Vertex Education, Arizona’s K-8 charter management organization. Currently, the company operates 18 schools throughout Arizona and Nevada, serving more than 21,000 students. Mindy Korth, Todd Noel and Sean Westfall of Colliers International in Arizona represented the seller, while Korth, Chris Roach and Matt Roach, also of Colliers, represented the buyer in the transaction.
RICHARDSON, TEXAS — Colliers International has arranged the sale of 2703 Telecom, a 121,420-square-foot office building located in the northeastern Dallas suburb of Richardson. Construction firm Hill & Wilkinson recently signed a 10-year lease as the anchor tenant at the building, which was 100 percent leased at the time of sale. Dallas-based Pillar Commercial sold the asset to Goldenberg & Associates Inc. for an undisclosed price. Creighton Stark and Chris Boyd of Colliers handled the transaction.
BLUE BELL, PA. — JLL has arranged the sale of a 123,087-square-foot office building in Blue Bell, a northern suburb of Philadelphia. Located at 518 Township Line Road, the building was completed in 2001 and renovated in 2019 with a new lobby, conference center, café and fitness center. At the time of sale, the property was 80 percent leased to six tenants including Jefferson Blue Bell Surgery. Doug Rodio, Brett Segal and Brett Grifo of JLL represented the seller, a partnership between Kairos Real Estate Partners and Artemis Real Estate Partners. The team also procured the buyer, Apex Financial Advisors.
LENEXA, KAN. — Oak River Farms is moving its headquarters from Louisiana to The District at City Center Lenexa. The agribusiness will occupy 4,595 square feet on the fourth floor of Penn II beginning this summer. Founded in 2016, Oak River Farms works within farming, land management and onsite storage of grain. Travis Gage of CBRE represented the tenant in the lease transaction. John Coe and Ryan Biery of Copaken Brooks represented ownership, Copaken Brooks. When fully developed, City Center Lenexa will consist of more than 2 million square feet, including civic components for the city of Lenexa, nearly 1 million square feet of office and retail space, and 375 residential units.
BRIDGEWATER, N.J. — Pharmaceutical company PTC Therapeutics has signed a 101,500-square-foot office lease in Bridgewater, located approximately 50 miles west of New York City. The company signed a long-term lease to occupy three floors at The New Jersey Center of Excellence, an 800,000-square-foot life sciences and laboratory office complex. Amenities at the center include a cafeteria, fitness center and conference center. Other tenants include Kashiv Pharma LLC, Nestlé Health Science and Ashland Global. Dan Loughlin led a JLL team that represented the landlord, Thor Equities, in the lease negotiations.
