HOUSTON — An affiliate of locally based investment firm Fuller Realty Partners has purchased Parkview I and II, two office buildings totaling 175,700 square feet in Houston’s Energy Corridor area. Both properties were built in the 1980s and were a combined 11 percent leased at the time of sale. Rick Goings, Rudy Hubbard and Kevin McConn of JLL represented the seller, LNR Partners, in the transaction.
CHERRY HILL, N.J. — JLL has negotiated the $17.4 million sale of Colwick Business Center, a 172,500-square-foot office park located outside Philadelphia in Cherry Hill. The three-building property was 90 percent leased at the time of sale. An undisclosed Brooklyn-based firm acquired the portfolio from a joint venture between Endurance Real Estate Group and Blue Vista Capital Management. Brett Grifo, Jim Galbally, John Plower and Chad Orcutt of JLL brokered the deal.
KING OF PRUSSIA, PA. — Marcus & Millichap has relocated its office in the western Philadelphia suburb of Wynnewood to 200 N. Warner Road in King of Prussia. Sean Beuche, regional manager of Marcus & Millichap’s Philadelphia office, will oversee the new operation, which is currently manned by eight agents.
INDIANAPOLIS — BNSF Logistics has signed a 13,105-square-foot office lease at 141 E. Ohio St. in downtown Indianapolis. Crown Property Management owns the historic building, which dates back to 1913. First-floor tenants at the property include Crown Wine & Spirits and Punch Burger. Kevin O’Donnell of Newmark Knight Frank represented BNSF in the lease transaction. BNSF had outgrown its former office space in Indianapolis, which spans 2,500 square feet.
BOSTON — Citizens Commercial Banking has provided a $435 million construction loan for a 500,000-square-foot office and retail project in Boston’s Seaport District. The new building at 111 Harbor Way will feature two floors of retail space and 15 floors of office space that Amazon will fully occupy. Construction of the project is scheduled for completion by 2021. The borrower, a partnership between locally based investment firm WS Development and Canada’s Public Sector Pension Investment Board, officially broke ground on the building May 28. The partnership is the lead developer of the Boston Seaport, a 23-acre waterfront project that will eventually span 7.6 million square feet of residential, retail, office and hospitality space. The project also includes 8.8 acres of open public space. Citizens, a Rhode Island-based lender with more than $160 billion in assets under management, is also the lead arranger and administrative agent for the loan, which officially closed June 7. — Taylor Williams
FRANKLIN, TENN. — Dallas-based KDC has partnered with SouthStar and Chartwell Hospitality to develop a 750,000-square-foot office building within Aureum, a mixed-use development in Franklin. KDC will develop Aureum’s office component, SouthStar will develop 100,000 square feet of retail space, Chartwell Hospitality is developing three hotels totaling 700 rooms and SouthStar and Chartwell will co-develop a 480-unit residential community. Aureum, which is Latin for “golden,” will span 22 acres in Franklin’s Cool Springs area, about 18 miles south of downtown Nashville. KDC is expected to break ground on the office building in early 2020.
AUSTIN, TEXAS — Office investment firm Accesso has signed two leases totaling 200,000 square feet at Riata Corporate Park, a 61.5-acre office campus in northwest Austin. Global pharmaceutical company Allergan has leased 107,000 square feet at the eight-building campus, which offers multiple fitness centers, an employee lounge and a deli café. In addition, an unnamed Silicon Valley-based computer company will occupy 93,000 square feet at Riata Corporate Park. Mike Brown and Will Stewart of Transwestern negotiated both leases on behalf of Accesso.
DALLAS — Common Desk, a coworking concept with five locations in the metroplex, has begun leasing its 52,000-square-foot space at Trammell Crow Center in the Arts District neighborhood of Dallas. The space offers amenities such as a coffee bar, golf simulator, speakeasy-style bar, a game lounge and conference rooms. Sara Terry and Scott Sowanick of Stream Realty Partners are representing Common Desk in the leasing and management of the space.
PHOENIX — New York-based DRA Advisors has purchased Camelback Lakes, a multi-story office building located at 2710, 2720, 2730 and 2850 E. Camelback Road, for $47.5 million. Developed in 1983, the four-building asset features 203,290 square feet of office space with a detached parking deck. At the time of sale, the property was 85 percent occupied. Mainstreet Capital will provide property management services, while Keith Lambeth of Cushman & Wakefield will provide leasing services for the property. Chris Toci and Chad Littell of Cushman & Wakefield, supported by the agency leasing team of Keith Lambeth, closed the transaction.
WESTLAKE VILLAGE, CALIF. — Kilroy Realty Corp. has completed the disposition of Westlake Plaza Centre 2, an office building located at 2829 Townsgate Road in Westlake Village. Majestic Asset Management and The Johnston Group acquired the property for $18.2 million. Built in 1990 and situated on 1.2 acres, the three-building asset features 84,098 square feet of office space. Sean Fulp, Ryan Plummer and Mark Schuessler of Newmark Knight Frank represented the seller in the deal.
