LAS VEGAS — Alston Construction has completed the $7 million remodel of the International Game Technology (IGT) campus in Las Vegas. The campus is located at 6355 S. Buffalo Drive. The project included a complete remodel of a Class A, three- story office building that features high-tech capabilities and extensive security requirements. The work was finished in six phases to reduce the impact on the more than 700 employees that occupied the campus and were temporarily relocated during construction. Southwest Corporate Park owns the property. It was developed by Panattoni Development.
DALLAS — Younger Partners has secured a 4,866-square-foot lease at Republic Center, a 1.3 million-square-foot, mixed-used property located at 325 N. Saint Paul St. in downtown Dallas. Younger arranged the lease on behalf of Pavo Communications, a Mansfield, Texas-based firm. Kathy Permenter, Trae Anderson and Sarah Savage of Younger Partners represented the landlord in the transaction. The representative of the tenant was not disclosed.
SANDY SPRINGS, GA. — Duke Realty has announced plans to develop a five-level, 420-car parking deck in the northern Atlanta market of Sandy Springs. The structure will service Northside Hospital’s Center Pointe I and II, two medical offices totaling 363,174 square feet located at 1100 Johnson Ferry Road. Duke Realty will break ground on the project, which is designed to accommodate the construction of two additional parking levels in the future, in June. Delivery is slated for December.
COLUMBUS, OHIO — Colliers International has negotiated the sale of Olentangy Valley Center in Columbus for $5 million. The 11.2-acre property consists of a 60,000-square-foot retail center and two office buildings, one totaling 30,093 square feet and the other totaling 24,775 square feet. Kevin James and Grant Chaney of Colliers represented the undisclosed seller in the transaction.
DURHAM, N.C. — HFF has completed the sale of and secured acquisition financing for Keystone 200 and 300, two Class A office buildings totaling 223,475 square feet within Keystone Office Park in Durham. Scot Humphrey, Ryan Clutter and Chris Lingerfelt of HFF represented the seller, American Real Estate Partners, and procured the buyer, Innovatus Capital Partners. HFF’s Brent Bowman arranged the financing for the two properties, which are located at 530 and 430 Davis Drive, close to Interstate 40 and the Triangle Expressway.
RENO, NEV. — Griffin-American Healthcare REIT IV has purchased a 191,000-square-foot medical office building in Reno for an undisclosed sum. The Class A building is situated on the campus of St. Mary’s Regional Medical Center. The six-story building is fully leased to seven tenants. Approximately 80 percent of the building is leased to Prime Healthcare Services – Reno LLC, the operator of St. Mary’s Regional Medical Center. The property is the primary outpatient location for the hospital, providing healthcare services like wellness, physical therapy, obstetrics and gynecology, oncology, radiology, women’s health, neurology, bariatrics and internal medicine. Ensemble Real Estate Solutions & Investments developed the asset. CBRE’s Chris Bodnar and Lee Asher represented the seller, an unaffiliated third party. Griffin-American financed the acquisition using cash on hand. It also borrowed under its line of credit with Bank of America and KeyBank National Association. American Healthcare Investors and Griffin Capital Company co-sponsor the REIT.
EL SEGUNDO, CALIF. — NSB Associates has commenced construction on Ascend, an 80,000-square-foot creative office building in El Segundo. The property is situated at the Utah Avenue Campus. Legendary architect Frank Gehry will design Ascend. It will include customizable, creative workplaces with 24-foot clear-height ceilings, large glass panel walls, skylights and 16,000 square feet of private outdoor patio space for collaboration. The building sits on a podium over a covered parking structure. The building is near to the LA Metro Green Line and LAX. It is scheduled for occupancy in the fourth quarter of 2017. JLL’s Mike McRoskey, Blake Searles, Evan Moran and Jason Fine are leading the property’s leasing efforts.
DALLAS — RED Development has secured a 68,000-square-foot lease for international law firm Akin Gump at The Union Dallas, an 800,000-square-foot mixed-use development located at the intersection of Field and Cedar Streets in downtown Dallas. The project consists of a 22-story office tower, in which the firm has leased three floors, as well as a 23-story, 309-unit apartment building and a 60,000-square-foot Tom Thumb grocery store. The property, which is scheduled for a 2018 delivery, is now 60 percent leased.
HOUSTON — Targa Resources Group, a publicly traded midstream energy company, has leased 127,724 square feet of office space at 811 Louisiana St. The Class A, 577,735-square-foot office tower is located in Houston’s Central Business District. Tim Relyea, Chad Beck, David Guion and Morgan Relyea of Cushman & Wakefield represented the unspecified landlord in the transaction. Chip Colvill, Paula Bruns and Damon Thames of Colvill Office Properties represented Targa Resources Group.
KING OF PRUSSIA, PA. — CBRE has brokered the sale of the Triad office building in King of Prussia for $30.2 million. Zamir Equities purchased the four-story, 184,118-square-foot property, which is located at 2200 Renaissance Blvd. Robert Fahey, Jerry Kranzel and Erin Hannan of CBRE represented the seller, Kairos Real Estate Partners. Built in 1985, the Triad building underwent renovations in 2014 including the addition of a café, conference center and fitness center. The lobbies and common areas were also redesigned and upgraded. The building is 96 percent leased with tenants including Liberty Mutual Insurance Co., ASI Business Solutions and Telerx Marketing. CBRE’s Steven Doherty and Nick Harris secured an acquisition loan on behalf of the purchaser; the amount of the loan was not disclosed.