Office

CORAL SPRINGS, FLA. — Tiktin Real Estate Investment Services (TREIS) has brokered the $43 million sale of the Heron Bay Office and Retail Portfolio in Coral Springs. The Broward County portfolio includes Waterway Shoppes, a 40,258-square-foot retail center; Heron Bay III, a 45,344-square-foot, Class A office building; and Heron Bay IV, a 45,383-square-foot, Class A office building. Adam Tiktin and Alejandro Snyder of TREIS arranged the transaction on behalf of the sellers, RM-NA HB Three Office Building LLC, RM-NA HB Four Office Building LLC and RM-NA HB Waterway Shoppes LLC. Asuman 57th Street LLC acquired the assets. The sellers constructed the three buildings in 2006 and 2008. The portfolio is fully occupied by a mix of national, regional and local tenants.

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SAN DIEGO — Ware Malcomb has completed the redevelopment construction of Rancho Vista Corporate Center, located at 16399 W. Bernardo Drive in San Diego. Swift Real Estate Partners is the developer, Level 10 Construction served as general contractor and Ware Malcomb provided architecture, interior design and branding services for the project. The newly renovated corporate campus features Class A office and R&D buildings totaling 838,300 square feet on 67.5 acres. The project included the renovation of the exteriors, with upgraded landscape and hardscape throughout, as well as upgrading the on-site amenities for tenants. Additionally, the project now features a remodeled conference center, courtyard and 15,600-square-foot café with an operable glass wall system, as well as a new indoor workout facility, activity center with basketball and volleyball courts, outdoor collaboration areas and an outdoor dining area with a stretched fabric canopy. Ware Malcomb’s Branding Studio also provided signage design services for the redevelopment. The main goal for the project was to create site and brand identity with a design focused on energy efficiency, with xeriscaping to minimize water use and abundant shared areas to allow users to utilize site amenities.

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ADA, MICH. — MichiganLabs has expanded into the second floor at 452 Ada Drive in Ada, about 10 miles east of Grand Rapids. In December, the software developer leased 2,541 square feet on the third floor. The new office space, totaling 1,643 square feet, will be called “The Lab” and will allow the company to expand its services and hire additional developers. First Cos. is building out the space and Integrated Architecture is providing interior design services. MichiganLabs plans to occupy the new space starting Oct. 7. Jason Webb of Colliers International represented MichiganLabs in the new lease. Brian Sikma of Highpoint Real Estate represented the undisclosed landlord.

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ORLANDO, FLA. — Innovatus Capital Partners LLC has acquired Westwood Corporate Center, a five-building, 343,331-square-foot office campus in Orlando. The name of the seller and sales price were not disclosed. The complex was built in three phases between 1988 and 1999. Phase I included three single-story buildings and Phases II and III are both five-story, Energy Star-certified buildings. Westwood Corporate Center was 97 percent leased at the time of sale to 25 tenants. The largest tenant — Marriott Vacations Worldwide — opened its global headquarters at the property in 1996 and has since more than tripled its footprint, expanding eight times to its current operations at 157,400 square feet. The property features a four-story, 1,463-space parking garage, and is situated on 21 acres, roughly 12 miles from Orlando International Airport.

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ALLENTOWN, PA. — Real estate development company City Center Investment Corp. has topped out Five City Center, a 13-story office tower in Allentown. The 300,000-square-foot building is located at Eighth and Hamilton streets and will feature an all-glass exterior with first-floor retail space. Payroll processing provider ADP has leased 243,241 square feet at Five City Center to house its regional sales division. The building is slated to open by Sept. 1, 2019.

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DALLAS — NAI Robert Lynn has arranged a 17,300-square-foot lease for EJES Inc. at North Central Plaza III in Dallas. The civil engineering and land development firm will move its headquarters from another office in Dallas to the new space, located at 12801 Central Expressway, in November. Kent Smith of NAI Robert Lynn negotiated the lease on behalf of EJES. Onsite amenities at North Central Plaza include a deli, complimentary weekly shoe shine, a fitness center, conference center and a courtyard. EJES currently operates six offices across Texas, Louisiana and Mississippi.

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HOUSTON AND PASADENA, TEXAS — Baker Katz has arranged two leases for FedEx Office in Houston and Pasadena. In Houston, Lunden McGill of Baker Katz secured a 10-year lease for the retailer at 10550 Westheimer Road. Chace Henke of Edge Capital Markets represented the owner in the lease negotiations. In Pasadena, located roughly 15 miles southeast of Houston, McGill secured a five-year, 1,800-square-foot lease for a store at 3425 Spencer Highway. Brian Ellisor of Red Oak Commercial represented the building owner. FedEx Office provides an outlet for FedEx Express and FedEx Ground. In addition to shipping, FedEx Office offers printing, copying and binding services.

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SAN DIEGO — The Irvine Co. has purchased Sunroad Corporate Center, a three-building office property located in San Diego’s University Town Center submarket. Sunroad Enterprises sold the property for an undisclosed price. Situated on 8 acres at 4401, 4435 and 4445 Eastgate Mall, Sunroad Corporate Center comprises three four-story buildings featuring a total of 302,289 square feet of Class A office space. The campus features a fitness facility and the buildings are adjoined by an outdoor environment complete with a newly constructed pavilion, which includes a floating café and lounge and modern water features. Additionally, each building has its own subterranean elevator-served executive parking facility, as well as ample surface parking and a standalone parking structure. Kevin Shannon, Brunson Howard, Paul Jones, Ken White and Rick Stumm of NKF represented the seller, while The Irvine Co. was self-represented in the transaction.

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PHOENIX — Minnetonka, Minn.-based Merced Capital and California-based Restart Investments have completed the sale of Camelback Arboleda, an office building located in Phoenix’s Camelback Corridor. Solana Beach, Calif.-based Fenway Capital Advisors acquired the property for $25.3 million. Brian Ackerman and Dennis Desmond of JLL represented the sellers in the deal. The four-story building features 178,792 square feet of office space. Additionally, the property is located adjacent to Camelback Marketplace, a 107,000-square-foot retail center featuring a variety of tenants, including Starbucks Coffee, Chick-fil-A, McDonald’s, Subway, Einstein Bros. Bagels, Yogis Grill and Zoës Kitchen.

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DEERFIELD BEACH, FLA. —  Kaufman Lynn Construction (KL) has broken ground on a $150 million headquarters renovation and expansion for JM Family Enterprises in Deerfield Beach. JM Family Enterprises is a privately owned automotive company whose subsidiaries include Southeast Toyota Distributors, JM&A Group and JM Lexus. The renovation will take place over the next three years. KL will demolish seven of the campus’ existing buildings, and will build eight new structures, including three office buildings, a two-story dining hall, 20,000-square-foot sports complex, 55,000-square-foot conference/training center and a 900-car parking garage. Three of the campus’ existing buildings will remain. Other features in the renovated, open-style campus will include a café, collaboration space, outdoor central plaza, fountains and walkways. Jacksonville-based architect Robert Broward, former apprentice to Frank Lloyd Wright, designed the campus’ master plan. KL is working with Boca Raton-based PGAL Architects to complete the project.

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