NEW YORK CITY — Brookfield Property Partners and JLL today announced that Rauxa, an independent advertising agency, will expand and relocate its New York operations with a move to 225 Liberty St. at Brookfield Place New York in Lower Manhattan. The company has signed a 50,000-square-foot, 11-year lease at the Class A, 2.7 million-square-foot office tower. The agency will relocate its New York office from SoHo. JLL’s Paul Glickman, John Wheeler, Michael Berman and Clayton Kline represented Brookfield Properties in the transaction. JLL’s Steven Rotter, Justin Haber and Richard Miller represented Rauxa. Rauxa will occupy part of the 43rd floor and the entire 44th floor at 225 Liberty St., which is located at the intersection of Liberty and West streets. The 44-story building was constructed in 1987.
STOUGHTON, MASS. — Colliers International – Boston, the exclusive agent for CuraHealth Hospital at 909 Sumner St. in Stoughton, has arranged a 26,000-square-foot lease with Bay Cove Human Services, headquartered on Canal Street in Boston. Bay Cove will immediately occupy the space and will relocate its addiction services program, which was previously located on Boston’s Long Island. The program was uprooted in 2014 when the bridge connecting to Boston collapsed. David Ellis of Conway Commercial represented the tenant. The campus consists of a medical office building and a hospital building, connected by a recently renovated lobby. In addition to a full-service cafeteria, the building boasts a new HVAC system, piped oxygen, medical gas, steam sterilization and emergency generators.
WILTON, CONN. — Avison Young’s Fairfield/Westchester office has secured a long-term, 15,000-square-foot office lease with Western Connecticut Medical Group Inc., an affiliate of the Western Connecticut Health Network. The health network company will serve as anchor tenant for the new Wilton Wellness Center under construction at 249 Danbury Road in Wilton. Avison Young Fairfield/Westchester’s Sean McDonnell and Lori Baker represented the owner, Cambridge Hanover, a New Canaan, Conn.-based real estate investment firm, in the transaction. Gerry Lees and Maureen O’Boyle of Cushman & Wakefield represented the tenant. Western Connecticut Medical Group will provide primary care services at the new location including internal medicine, family care, women’s services and urgent care.
SANTA MONICA, CALIF. — DivcoWest has acquired The Telephone Building in Santa Monica for $52.5 million. The six-story creative office building is located at 1314 7th St. As part of the deal, DivcoWest also acquired 58,538 square feet of office condominiums in the building. The remaining 33,254 square feet of office condominiums houses a telephone switching hub owned by Frontier Communications and was not included in the sale. The building is 86 percent leased. HFF’s Doug Bond and Andrew Harper represented the seller, a joint venture between Alcion Ventures and Pacshore Partners, in this transaction.
PORTLAND, ORE. — LPC Realty Advisors has received a $98.5 million acquisition loan for the 30-story Pacwest Center in Portland. The 525,000-square-foot office tower is located at 1211 SW 5th Ave. LPC intends to significantly renovate the tower by modernizing the common spaces, the main lobby and shared amenities. PacWest Center is 76 percent leased to tenants like Merrill Lynch, Markowitz Herbold, Schwabe, Key Bank of Oregon and Perkins & Co. HFF’s Tom Wilson and Erica Christensen arranged the five-year, fixed-rate acquisition loan. A national insurance company provided the capital. LPC worked on behalf of a pension fund client. HFF also handled the property’s $170 million sale on behalf of the sellers, Ashforth Co. and an institutional investor.
SAN FRANCISCO — WeWork has leased 60,576 square feet of office space at 650 California St. The 33-story building in the Financial District underwent a major renovation in 2013. WeWork will occupy the fourth floor through the seventh floor. The landlord, Columbia Property Trust, has now completed four leases totaling 91,562 square feet at the 477,000-square-foot property over the past nine months.
ABILENE, TEXAS — TREK Investment Group, an Austin-based brokerage firm, has closed the sale of an 89,545-square-foot office property located at the corner of State Highway 277 and South First Street in Abilene, a city about 180 miles west of Dallas. The property, which is situated on 8.8 acres, was 100 percent leased at the time of sale to the Texas Departments of Public Safety, Human Services and Health. Ethan Offenbecher and Parker Carroll of TREK represented the seller and procured the buyer, both of which requested anonymity.
MOUNT PROSPECT, ILL. — Entre Commercial Realty LLC has brokered the sale of a 30,745-square-foot office building in Mount Prospect, about 22 miles northwest of Chicago. The sales price was not disclosed. Nicholas & Associates, a construction management company based in Mount Prospect, acquired the building along with 5.2 acres of land. The property is located at 1401 Feehanville Drive within Mount Prospect’s Kensington Business Center. Dan Benassi and Mike DeSerto of Entre Commercial represented the buyer in the transaction. Michael Magliano of Cushman & Wakefield represented the undisclosed seller.
DALLAS — Lee & Associates and EDGE Realty Capital Markets have co-brokered the sale of a 14,000-square-foot office property, located at 2320 Stemmons Trail in west Dallas. The sale price of the building, which is currently occupied by Octapharma Plasma, a blood donation center, was $3 million. Allen Buchanan and Joshua Harper of Lee & Associates represented the buyer, Double Run LP, a California-based investment firm. Mark Mordecai and Brandon Crow of EDGE represented the undisclosed seller.
LOS ANGELES — V.C.I. Corp. has sold a 157,225-square-foot office property in the Los Angeles submarket of El Segundo for $52 million. The buyer was not named. The Class A asset is located at 2300 E. Imperial Ave. The property was vacant at the time of sale. The building was originally constructed in 1964 and renovated in 2000 with new common areas and parking structure. Chris Sinfield and Tom Sheets of Cushman & Wakefield represented the seller in the transaction.