AUSTIN, TEXAS — Equitable Commercial Realty (ECR) has negotiated a 12,780-square-foot office lease at 800 Brazos St. in Austin. Jason Steinberg and Matt Levin of ECR represented the landlord in the lease negotiations. Will Douglas and Todd Gilfillan of CBRE represented the tenant, Concierge Auctions LLC, a New York-based auction house.
WALTHAM, MASS. — NKF Capital Markets has arranged the sale of Stony Brook Office Park in Waltham. Jumbo Capital and Sound Mark Partners acquired the office park for $80 million. Robert Griffin, Edward Maher, Matthew Pullen, James Trible and Samantha Hallowell of NKF Capital Markets represented the seller, Clarion Partners, in the deal. Situated on 16 acres, the office park comprises four interconnected buildings totaling 270,196 square feet of institutional-quality office space at 130 Turner St. and a 3,925-square-foot retail asset at Five Turner St. At the time of sale, the property was 100 percent leased, anchored by Brainshark, Wolters Kluwer, TIAA, Stanley Black & Decker, Ultratech, DDJ Capital Management and Wells Fargo.
PARSIPPANY, N.J. — A joint venture between Rubinstein Partners and Vision Real Estate Partners has purchased Morris Corporate Center IV (MCC IV), located at 369-379 Interpace Parkway in Parsippany. Intercontinental Real Estate Corp. and Ivy Realty sold the property for an undisclosed price. MCC IV comprises two five-story office buildings totaling 350,917 square feet and connected by a four-story glass atrium lobby. Kevin Welsh, Brian Schulz, Chuck Kohaut, Steven Schultz and David Simson of NFK Capital markets represented the seller and procured the buyer in the transaction.
ALEXANDRIA, VA. — A joint venture between USAA Real Estate and Lowe has acquired Park Center, a three-building, 566,000-square-foot office complex in Alexandria, roughly eight miles north of Washington, D.C. The adjacent office buildings are located at 4300 King St., 3101 Park Center Drive and 4401 Ford Ave. Joe Carrol of Lowe and Bruce Childs of USAA Real Estate led the acquisition team internally. HFF represented the undisclosed seller, and arranged acquisition financing for the asset on behalf of the new owners. The sales price was not disclosed. Lowe and USAA most recently teamed up on the development of the 705,000-square-foot National Science Foundation Headquarters building, which was completed in late 2017 at 2415 Eisenhower Ave. in Alexandria.
OVERLAND PARK, KAN. — The Keith Corp. (TKC) has sold the Quintiles Building in Overland Park for an undisclosed price. The 239,366-square-foot office building is located at 6700 W. 115th St. just southeast of the intersection of College Boulevard and Metcalf Avenue. The building was originally constructed as a build-to-suit for Quintiles in 2006. The integrated information and technology-enabled healthcare company recently extended its 176,839-square-foot lease through 2023. Honeywell took occupancy of the remaining 62,527 square feet in June 2017. Mark Katz, Peter Merrion and Sean Fogarty of HFF marketed the asset for sale on behalf of TKC. The buyer was not disclosed.
MUNDELEIN, ILL. — SVN | Chicago Commercial has brokered the sale of Orchard Technology Center in Mundelein, a northern suburb of Chicago, for $1.9 million. The 60,000-square-foot flex office building features pharmaceutical research space that was built by Baxter Travenol. The building consists of three separate laboratory blocks that total 30,000 square feet and three office/flex blocks that also total 30,000 square feet. Michael Rudman, John Guill and John McDermott of SVN | Chicago Commercial represented the buyer in the transaction. Neither the buyer nor the seller was disclosed.
CHICAGO — Ware Malcomb has completed interior architecture and design services for the corporate headquarters of Purohit Navigation at Willis Tower in Chicago. The healthcare communications and advertising agency now occupies 10,000 square feet on the 62nd floor of the office tower. The design emphasizes a central collaborative area with open space. All millwork was custom designed to fit Purohit’s needs. Bear Construction was the general contractor for the project.
MCKINNEY, TEXAS — KDC has broken ground on the new, 165,000-square-foot corporate headquarters for Independent Bank Group, a subsidiary of regional lender Independent Bank. The Dallas Business Journal reported in July that the project is valued at roughly $52 million. The six-story property will be situated on 10.4 acres within the Craig Ranch Corporate Center in McKinney, a northern suburb of Dallas. Approximately 400 employees are expected to occupy the property upon completion, which is slated for December.
ATLANTA — Granite Properties has formed a long-term partnership with Third & Urban for the recapitalization and development of two warehouse properties in Atlanta’s West Midtown district. The partnership will create a portfolio to include the recapitalization of Complex, an adaptive reuse project Third & Urban unveiled in December 2016. The building is 80 percent leased to tenants including Proof of the Pudding, Bold Monk Brewing, Look Listen and LTX Solutions. The project is on track to be fully leased by June. In addition, the partnership will acquire and develop a group of warehouses located at 1218 and 1236 Menlo Drive, also in the West Midtown district. Similar to Complex, the new development — dubbed Inland Tract — will offer creative flex space for tenants that need both office and warehouse space.
NASHVILLE, TENN. — HFF has arranged a $26.7 million construction loan for the adaptive reuse of the former May Hosiery textile mill in Nashville. The development is located at 425 to 431 Chestnut St. and 510 Houston St. in the city’s Wedgewood Houston neighborhood. Danny Kaufman and Christopher Knight of HFF arranged the two-year, floating-rate loan through LoanCore Capital on behalf of the borrower and developer, Chicago-based AJ Capital Partners. Proceeds of the loan will be used for the renovation and remaining lease-up of the property. Constructed in 1909, the 120,000-square-foot facility was originally home to May Hosiery, which made socks through most of the 20th century. AJ Capital Partners is redeveloping the property into a mixed-use space featuring 80,000 square feet of creative office space and 40,000 square feet of retail and restaurant space. In addition, the project will include a private rooftop terrace and central outdoor spaces. At the time of closing, the development was 47 percent preleased to Tuck-Hinton Architects, Southcomm Media, Dream Technologies, Parson’s Chicken & Fish and Blockhouse Barbers.