DURHAM, N.C. — Vestis Capital Partners has brokered the $8.2 million sale of Valley View, a 54,000-square-foot office building located at 3511 Shannon Road in Durham. Drew Eller of Vestis Capital Partners arranged the transaction on behalf of the seller, Valley View Office LLC. Bo Hargrove and Street Jones of Rich Commercial Realty represented the buyer, a Massachusetts-based private investor. At the time of sale, Valley View was 90 percent leased.
ATLANTA — Avison Young has arranged a 10-year, 40,000-square-foot lease for The Boston Consulting Group (BCG), a global management consulting firm, at 100 Peachtree in downtown Atlanta. Phil and Hilton Barry of Avison Young represented BCG in the lease transaction. Scott DeMyer and C. Deming Fish of Colliers International represented the landlord, Zeller Realty Group. BCG is expected to bring roughly 200 jobs to Atlanta upon moving to the building, in an effort to co-locate business support jobs into one central office. The Boston-based company will invest nearly $9 million renovating two floors of the building. Construction is slated for completion in the first half of 2018. Formerly known as the Equitable Building, the 622,084-square-foot 100 Peachtree features a conference center, fitness center and is located within walking distance of a variety of restaurants. The building is home to Georgia’s Own Credit Union, Koch Industries and CallRail.
RICHARDSON, TEXAS — Colliers International has closed the sale of an 83,140-square-foot office/warehouse property located at 1501 Plano Road in Richardson. Lizzy Blake of Colliers represented the seller, Addison-based investment firm Silver Tree Partners, and procured the buyer, Prattco Creekway Industrial. The property was 60 percent leased at the time of sale.
WASHINGTON, D.C. — Akridge, in partnership with Stars Investments, has broken ground on 1101 Sixteenth Street, an office redevelopment project that will transform two office buildings in Washington, D.C. Designed by HOK, 1101 Sixteenth will convert the buildings at 1101 and 1111 Sixteenth St. into one freestanding, 100,000-square-foot office building. The two buildings previously housed the American Association of University Women and the American Beverage Association. The redeveloped building will feature a fitness facility, penthouse lounge and a rooftop terrace with views of the White House. EagleBank is financing the project, which is slated to deliver in fall 2018.
CHARLOTTE, N.C. — Cushman & Wakefield has brokered the $35.5 million sale of 200 South Tryon, a 215,101-square-foot office building in Charlotte’s Uptown district. Rob Cochran, Jared Londry and Nolan Ashton of Cushman & Wakefield represented the seller, LNR Partners. The buyer, an entity controlled by Miami based-Jewell Capital LLC, acquired the asset. Constructed in 1962, the 17-story property was renovated in 2001 to include interior and exterior modifications and new building systems, followed by further improvements in 2014. The building is located within walking distance of more than 200 restaurants, Romare Bearden Park and public transit. At the time of sale, 200 South Tryon was 85 percent leased.
PORTLAND, ORE. — NBP Capital has acquired a two-building office portfolio in Portland for $32.2 million. The acquisition includes Blagen Block, a four-story creative office building, and New Market Theater, a six-story office building. Blagen Block was built in 1888. It is fully leased to Airbnb. New Market Theater was built in 1872 and 1875. It is home to Portland’s long-standing Saturday Market. Swift Real Estate Partners acquired both buildings from Beardsley Building Development in 2015. The company invested in modernizing and upgrading the buildings. CBRE’s Charles Safley and Trevor Kafoury represented both parties in the transaction. The firm’s Nick Santangelo, Mike Walker and Brad Zampa secured $26.7 million in acquisition financing for the buyer.
IRVINE, CALIF. — Irvine Co. has opened 400 Spectrum Center, a 21-story office tower within the Irvine Spectrum. The tower’s sister property, 200 Spectrum Center Drive, debuted a year ago. The newest addition is 40 percent pre-leased. Notable tenants include communications platform company SendGrid, cybersecurity artificial intelligence company Cylance, Kieckhafer Schiffer & Co. and CrossCountry Mortgage.
NEW YORK CITY — Savanna has received $100 million in construction financing for an office building development at 106 W. 56th St. in Manhattan. When completed, the 26-story property will feature 90,000 square feet of high-end office space. Designed by Perkins Eastman, the tower is slated for completion in the third quarter of 2018. Kellogg Gaines, Aaron Niedermayer and Douglas Baillie of JLL arranged the financing, which includes a senior construction loan from United Overseas Bank and mezzanine financing from Canyon Partners Real Estate.
NEW YORK CITY — SL Green Realty Corp. has partnered with RXR Realty to acquire a 48.7 percent interest in Worldwide Plaza, a Class A mixed-use property in Midtown Manhattan. New York REIT is selling the interest and will continue to own the remaining equity with WWP Sponsor, its existing partner. Slated to close in the fourth quarter, the transaction values the asset at $1.7 billion. Developed in 1989, Worldwide Plaza consists of a 49-story, 1.8 million-square-foot office tower, a 252,000-square-foot retail building with parking garage and a large open-air plaza. Tenants at the office tower include Nomura Holdings, Cravath Swaine and Moore LLP, WebMD, WNet.org, Rubenstein and CBS Broadcasting. The retail building features a five-stage off-Broadway theater, a 475-space parking garage and TMPL, a state-of-the-art fitness gym. At the time of sale, the property was 100 percent leased.
WHITE PLAINS, N.Y. — KABR Group has completed the sale of an office building located at 75 S. Broadway in downtown White Plains. Zef Perlleshi acquired the fully renovated building for $13.7 million. New York Department of Education, General Services Administration and New York Worker’s Compensation Board are tenants at the four-story building, which was 96 percent occupied at the time of sale. Multiple offers were made for the building on Ten-X Commercial’s Offer Select transaction platform. Dan Lessing of DSR Group brokered the transaction.
