LAKEWAY, TEXAS — NAI Partners has brokered the sale of a 7,119-square-foot office building located at 308 S. Meadowlark St. in Lakeway, a western suburb of Austin. Patrick Hill of NAI Partners represented the buyer in the transaction and negotiated a lease for the building’s new tenant, Claim Consultant Group, which will relocate its headquarters to the property later this year. Scott Studzinski and Grant McConnell of Elevate Growth Partners represented the seller.
PORTLAND, ORE. — PCCP has acquired Park Square, a two-building office asset on the south end of the Portland’s central business district, for $96.5 million. The name of the seller was not released. Park Square consists of two buildings connected by a lobby/great room, which includes multiple seating areas, a fireplace/lounge area and a high-end soup and salad bar. The asset was substantially repositioned in 2016, including the renovation of its 8,000-square-foot lobby. The first building is the single-tenant, six-story, 181,049-square-foot Woolworth Building, located at 1621 SW First Ave. The building was originally a build-to-suit for the tenant, which has occupied the space since the building was constructed in 1984. The second building, located at 100 SW Market St., was built in 1964. The seven-story asset totals 113,719 square feet and is leased to three investment-grade credit tenants. At the time of sale, the property was nearly fully-leased.
KANSAS CITY, MO. — Platform Ventures has acquired Plaza Vista, a 253,720-square-foot Class A office tower in Kansas City, for $118.2 million. Completed in 2013, the 10-story property is fully leased and anchored by law firm Polsinelli. Retail tenants include Jax Fish House, JJ’s and The Monarch Cocktail Bar and Lounge. The building is situated at 900 W. 48th St. within the Country Club Plaza submarket of Kansas City. Mark Katz, Danny Kaufman and Peter Merrion of HFF represented the seller, which is managed by an affiliate of EverWest Real Estate Investors. The team also procured the buyer.
CAMBRIDGE, MASS. — Boston Properties will develop a 417,000-square-foot, build-to-suit office building at 325 Main St. in the Kendall Square area of Cambridge for Google, which has signed a 362,000-square-foot lease. Construction of the 16-story property, which will be built at the current site of 3 Cambridge Center, will begin later this year. Completion of the building, which will also house 42,000 square feet of retail space and serve as the tech giant’s new Cambridge headquarters, is slated for 2022. Pickard Chilton has been tapped to handle design of the project. Following completion, Google’s footprint in the area will exceed 800,000 square feet.
NATICK, MASS. — Locally based brokerage firm R.W. Holmes Commercial Real Estate has arranged the sale of Natick Office Park, a 63,000-square-foot building located about 20 miles west of Boston. The property is situated on 2.9 acres near the West Natick commuter train station and the Massachusetts Turnpike. Garry Holmes of R.W. Holmes represented the seller, 209 W. Central Street LP, and procured the buyer, an affiliate of Legacy Real Estate Ventures LLC that purchased the asset for $6.8 million. Camden National Bank provided acquisition financing for the deal.
SYRACUSE, N.Y. — NAS Investment Solutions, a national investment firm, has acquired a 55,000-square-foot flex building in Syracuse. The property, which was built in 2008 and expanded in 2015, consists of 40,000 square feet of office space and 15,000 square feet of light manufacturing and warehousing space. The building is located adjacent to Syracuse Hancock International Airport and was 100 percent leased at the time of sale to Jadak, a healthcare technology firm that uses the space as its corporate headquarters. John Rotunno of Stan Johnson Co. represented the seller, New York-based Mercer Street Partners, in the transaction.
NEW YORK CITY — Savills Inc. has negotiated a 13,116-square-foot office lease at 25 West 39th Street, a 205,000-square-foot office building in Midtown Manhattan, for the relocation of Converge Marketing’s headquarters. Converge, which offers media planning, branding and ad campaign managing services, will take occupancy of the new space this fall. Ken Ruderman, Andrew Zang and Pete Cento of Savills represented Converge Marketing in its site selection and lease negotiations. The property was built in 1907 as a gift to three large engineering groups (The American Institute of Electrical Engineers, The American Society of Mechanical Engineers and The American Institute of Mining Engineers) from steel magnate Andrew Carnegie.
LAKE MARY, FLA. — CBRE has arranged the $15 million sale of Contact Pointe, a 92,127-square-foot office building in Lake Mary. The building was fully occupied at the time of sale to tenants including AT&T and Falck USA. The asset is situated 17 miles north of downtown Orlando. Ron Rogg and Chip Wooten of CBRE represented the sellers, Orlando-based Tower Realty Partners and Dallas-based TriGate Capital Partners, in the transaction. Exeter Property Group acquired the property.
MIAMI — Key International and 13th Floor Investments have sold Highland Park Center, a fully occupied, 44,740-square-foot office building in Miami’s Health District, for $13.9 million. TopMed Realty, a healthcare real estate private equity firm, acquired the property. Highland Park Center was built in 2011 and is situated two blocks from the Miami-Dade Courthouse and less than one mile from the intersection of Dolphin Expressway and Interstate 95. The partnership acquired the then-vacant building in 2014 for $7.9 million. Douglas Mandel and Benjamin Silver of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller in the transaction.
NEW YORK CITY — A partnership between Waterman Interests LLC and USAA Real Estate has sold two office buildings in the Midtown West area of Manhattan totaling roughly 211,000 square feet. The first building, 142 West 36th Street, is a 119,000-square-foot property that is 94 percent leased to tenants such as Becca Cosmetics, a division of Estee Lauder, Flashtalking Media and Elite SEM. The second building, 234 West 39th Street, is a 92,000-square-foot facility that is 93 percent leased to tenants such as Sunlight Financial and Robert Marc Opticians. Joshua Mermelstein, Avi Feinberg and Chris Roman of Fried Frank represented the partnership in the sale. The buyer was Alduwaliya, a Qatar-based investment firm.