RICHARDSON, TEXAS — Information technology consulting firm Infosys Ltd. will open an innovation hub in the northeastern Dallas suburb of Richardson, bringing 500 new jobs and $12.3 million in capital investment to the area by 2020. Construction of the new facility is expected to be complete by 2020. Infosys is based in Bengaluru, India, and operates in 45 countries, employing more than 200,000 people.
SHERMAN OAKS, CALIF. — Capital Realty Solutions has arranged the sale of Wallace Literary, an office building located at 15464 Ventura Blvd. in Sherman Oaks. An undisclosed buyer acquired the asset for $2.7 million, or $1,342 per square foot. Named after Hollywood writer/director/producer Randall Wallace, the 2,012-square-foot boutique office building features ample parking and is adjacent to the Sherman Oaks Galleria. Ash Joshi of Encino, Calif.-based Capital Realty Solutions represented the seller, Randall Wallace, trustee of the Randall Wallace Family Trust, in the deal. Elizabeth Clark of Pacific Union International represented the buyer, which will occupy the property, in the transaction.
CHARLOTTE, N.C. — Bahrain Mumtalakat Holding Co. (Mumtalakat), the sovereign wealth fund of the Kingdom of Bahrain, in partnership with Sentinel Real Estate Investment Corp., has acquired two office buildings in Charlotte for $136.8 million, according to Triad Business Journal. The seller was undisclosed. The 421,863-square-foot property is fully occupied by The Lash Group, a pharmaceutical and healthcare service provider. This is the second purchase Mumtalakat has made in the U.S. this year. In February, also with Sentinel, Mumtalakat acquired Lenovo’s Raleigh-Durham campus.
DALLAS — California-based Thorofare Capital has provided a $36 million loan for the refinancing of Heritage Square I & II, an office complex totaling 368,214 square feet in Dallas. The Class A property is located at the corner of Interstate 635 and the North Dallas Tollway. Proceeds will be used to repay a maturing loan and fund tenant improvements, leasing commissions and other capital expenditures. The loan was provided to the borrower, Brookwood Heritage Square LLC, an entity sponsored by Brookwood Financial Partners LLC, which acquired the asset in 2013.
HOUSTON — CommonGrounds, a San Diego-based coworking concept, will open a 28,000-square-foot space at Greenway Plaza in Houston. The space will be integrated into The Hub, the center of the 11-building office campus. The space, which will be the company’s second in Texas and 12th overall, is slated to open in spring 2019.
ANGLETON, TEXAS — Lee & Associates has brokered the sale of a 20,954-square-foot office building located at 2309 W. Mulberry St. in Angleton, a city situated roughly 50 miles south of Houston. Reed Vestal and Taylor Schmidt of Lee & Associates represented the seller in the transaction. Debbie Cowart of Coldwell Banker Commercial represented the buyer. Both parties requested anonymity.
FORT COLLINS, COLO. — The Neenan Co. has started constructed of the new headquarters for Madwire in Fort Collins. Owned by 2001 Danfield LLC, a Northern Colorado investor group that includes Curt Burgener, Brian Stahl, Dave Derbes and Troy Peterson, the 102,000-square-foot is being developed by Peakstone Development. Located at 3405 S. Timberline Road, the redeveloped property will activate a building that has been vacant for two years. The digital marketing software company will expand into the remodeled 102,000-square-foot building, which will accommodate 700 employees. Madwire currently occupies 70,000 square feet in a multi-tenant office building. The project will revitalize the vacant facility, which was built in 1980. The remodeled building will feature breakout spaces, an auditorium, a large gym with multiple sport offerings, and an outdoor patio and deck. Completion is slated for May 2019.
RIVERSIDE, CALIF. — A joint venture between Stillwater Investment Group and Greenlaw Partners has completed the sale of Mission Lake Center, a multi-tenant office complex located in Riverside. A private high-net-worth buyer acquired the property for $10.1 million. Gary Stache, Anthony DeLorenzo, Doug Mack and Sammy Cemo of CBRE represented the seller. Located at 3600 Lime St., Mission Lake Center features seven two-story, Class A office buildings totaling 74,646 square feet. The property underwent a $900,000 renovation and includes a water feature surrounded by landscaping, common area, and an on-site restaurant.
JEFFERSONVILLE, IND. — Commercial real estate developer Hollenbach-Oakley LLC has unveiled plans for a 600-acre office campus at the River Ridge Commerce Center in Jeffersonville, located just across the Ohio River from Louisville, Ky. The project will be completed in two phases, the first 300 acres being developed as the River Ridge Gateway Office Campus. The remaining 300 acres will be developed as the River Ridge Research Campus. The River Ridge Development Authority recently approved the master development agreement. “This is a real game-changer for River Ridge,” says Jerry Acy, executive director of the River Ridge Development Authority. “To date, most of the development at the center has been logistics, manufacturing and warehousing jobs. We love the firms that are here, but the office and research park will be the perfect complement and draw a different type of employer to River Ridge.” The office campus will remain part of River Ridge Commerce Center and the River Ridge Development Authority will continue to develop significant infrastructure, such as roads, sidewalks and gutters. Hollenbach-Oakley will develop the office buildings and handle the sales and leasing efforts, as well as maintaining the campus infrastructure. Of the 6,000 acres in the River Ridge Commerce …
BOCA RATON, FLA. — ICM Realty has sold the Atrium at Broken Sound, a 97,584-square-foot, Class A office building in Boca Raton, to Alchemy-ABR Investment Partners and Breakers Capital Partners LLC for $21.5 million. The Atrium was built in 1986 on eight acres within The Park at Broken Sound, a 700-acre mixed-use development that offers residential options, shopping, cafes and a golf course. Schwartz Sladkus Reich Greenberg Atlas LLP represented the buyers in the transaction.