Office

American Bank Building in Portland Trades for $53M

by Nellie Day April 6, 2017

PORTLAND, ORE. — ScanlanKemperBard Cos. (SKB) has sold the historic American Bank Building in Portland’s central business district for $53 million. The 15-story creative office building is located at 621 S.W. Morrison St. The American Bank Building was built in 1914.The property was 61 percent leased to tenants like Wells Fargo and The Department of Justice. HFF’s Nick Kucha represented SKB in the transaction. The firm also recapitalized the property with Lionstone Investments, arranging a four-year, floating-rate loan through CIT Bank for the new partnership. The amount of the financing was not disclosed.

April 6, 2017

California Office Western

Barak Investors Group, MIP Investment Sell Universal City Office Building

by Nellie Day April 6, 2017

LOS ANGELES — A joint venture between Barak Investors Group and MIP Investment has sold a 103,154-square-foot office building in the Los Angeles submarket of Universal City. Though the price was not disclosed, the JV suggested that the property sold for between $35 million and $40 million. The Class A building is located at 3330 Cahuenga Blvd. It is 92 percent leased to tenants like Extreme Reach, Panasonic, EPSCineworks and Abominable Pictures. The buyers are Cahuenga Investment LLC and Cahuenga Equity LLC. NGKF’s Kevin Shannon Team represented the JV in this transaction.

April 6, 2017

Industrial New York Northeast Office

Northwell Health Leases 50,000 SF Office/Industrial Space from Nassimi Realty in Lake Success, N.Y.

by Haisten Willis April 6, 2017

LAKE SUCCESS, N.Y. — Northwell Health has leased 50,000 square feet of office and industrial space at 2500 Marcus Ave. in Lake Success, a property owned by Nassimi Realty. With the lease, the property is 100 percent occupied. Nearby employers include Long Island Jewish Medical Center and North Shore University Hospital. Daniel Brandel of CBRE represented Northwell in the transaction. Northwell Health is one of New York’s largest healthcare providers with 21 hospitals and over 550 outpatient practices. Nassimi Realty is a privately held development and investment company specializing in the redevelopment of existing properties.

April 6, 2017

New Hampshire Northeast Office

Margulies Perruzzi Architects Completes Office Laboratory Space in Salem, N.H.

by Haisten Willis April 6, 2017

SALEM, N.H. — Margulies Perruzzi Architects (MPA), an architectural and interior design firm, has completed a 30,000-square-foot laboratory and office facility for Boston Analytical, the life sciences division of Alpha Analytical. Located in Salem, Boston Analytical’s new space houses chemistry and microbiology laboratories equipped with analytical testing equipment. Boston Analytical’s testing services are used by pharmaceutical, biopharmaceutical and medical device companies. MPA programmed and designed the spaces, including 20,000-square-foot chemistry, stability and microbial labs and 2,000 square feet of ISO 8 to ISO 5 clean rooms.

April 6, 2017

Connecticut Northeast Office

Angel Commercial Arranges $2.2M Sale of Office Building in Westport, Conn.

by Haisten Willis April 6, 2017

WESTPORT, CONN. — Brett Sherman of Angel Commercial has arranged the $2.2 million sale of 1555 Post Road E. in Westport. Located on Route 1, the property consists of an 11,461-square-foot office building on .61 acres. Sherman represented the buyer, BAO Partners, which plans to update the building with a new roof, HVAC, windows, masonry and parking lot.

April 6, 2017

Florida Office Southeast

Green Cos. Buys Office Building in Broward County from Clarion Partners for $19.3M

by John Nelson April 6, 2017

PLANTATION, FLA. — The Green Cos. has purchased Sabadell Financial Center, a five-story, 102,007-square-foot office building located at 150 S. Pine Island Road in Plantation, a suburb in Broward County. Clarion Partners LLC sold the Class A office building to Green Cos. for $19.3 million. The property was 96 percent leased at the time of sale to tenants such as Sabadell United Bank, Quest Workspaces and Ferencik Libanoff Brandt Bustamante & Goldstein PA. Hermen Rodriguez, Ike Ojala and Tracey Goo of HFF represented Clarion Partners in the transaction. James Bernstein, Elizabeth Green and George Brown led The Green Cos. internally. Paul Stasaitis and Maxx Carney of HFF arranged the 10-year, fixed-rate, $12.5 million acquisition loan through Aegon USA Realty Advisors LLC.

April 6, 2017

Midwest Office Ohio

Serendipity Labs Coworking Signs Two New Leases in Columbus, Ohio

by Kristin Harlow April 6, 2017

COLUMBUS, OHIO — Serendipity Labs Coworking has signed two new leases for its coworking office space concept in Columbus. The first location is slated to open this summer in the Fifth Third Center at 21 E. State St. and consists of 14,000 square feet. The second location includes the new construction of 22,000 square feet at 900 N. High St. Renascent Hospitality, owned by Columbus natives Trevor Warner and Scott Somerville, will own and manage the Serendipity Labs in Columbus. Serendipity Labs provides members-only workplaces with meeting facilities at corporate standards, according to the company’s website. Membership to Serendipity Labs includes the use of dedicated private offices, team rooms, lab café and work lounge. Full-time, part-time and day passes are available.

April 6, 2017

California Office Western

Summit Financial Consultants Renews, Expands at Westlake Park Place in LA

by Nellie Day April 5, 2017

LOS ANGELES — Summit Financial Consultants has renewed its lease and expanded its footprint at Westlake Park Place in the Westlake Village submarket of Los Angeles. The wealth management firm has leased 6,090 square feet at the final building that was constructed at Westlake Park Place. The new space is located at 3075 Townsgate Road. Mike Foxworthy of DAUM Commercial represented Summit Financial. Craig Cahow and Mike Foxworthy of DAUM Commercial represented the landlord, Westlake Plaza Center East – II LLC.

April 5, 2017

Office Texas

EDGE Negotiates Sale of 11,544 SF Office Building in Metro Dallas

by Taylor Williams April 5, 2017

GRAPEVINE, TEXAS — EDGE Realty Capital Markets has arranged the sale of 2301 Ira E. Woods, an 11,544-square-foot office property located at the intersection of Ira E. Woods Ave. and State Highway 114 in Grapevine, a northwestern suburb of Dallas. Brandon Crow and Wilson Stafford of EDGE represented the seller, Georgia-based DayStar Management LLC, in the transaction. Michelle Hudson of Hudson Peters Commercial represented the unspecified buyer.

April 5, 2017

Office Southeast Virginia

Virginia Government Agency Leases 81,553 SF in Downtown Richmond

by John Nelson April 5, 2017

RICHMOND, VA. — The Virginia Department of Environmental Quality (DEQ) has leased 81,553 square feet of office space in downtown Richmond. The agency will occupy four floors at Bank of America Center, an office building located at 1111 E. Main St. With the Virginia DEQ lease, the office building is 88 percent leased to tenants including the Virginia Cable Telecommunications Association, Haneberg Hurlbert PLC and the Virginia Bar Association. Malcolm Randolph and Scott Durham of CBRE | Richmond represented the owner, a joint venture between District Bay Realty Advisors and developer Joe Ersek, in the lease transaction.

April 5, 2017

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