QUINCY, MASS. — Campanelli, in partnership with TriGate Capital, has sold Heritage One and Heritage Two, two office buildings located in Quincy. Foxrock Properties has purchased Heritage One, a 173,000-square-foot office building, while Grander Capital Partners has acquired Heritage Two, a 183,000-square-foot office building. State Street Corp. occupies more than 50 percent of Heritage One, while Heritage Two is 93 percent occupied by a variety of tenants, including Massachusetts Teachers Association, Healthcare Financial, G-Force Shipping, Pharmalogics Recruiting and Stran Promotional Services. Robert Griffin, Edward Maher, Matthew Pullen, Judy Ravech, Samantha Hallowell, Michael Frisoli and David Douvadjian of Newmark Grubb Knight Frank represented the seller in the deal. The acquisition prices were not disclosed.
SOUTH BURLINGTON, VT. — Nedde Real Estate has brokered the lease of 5,808 square feet office at 1891 Williston Road in South Burlington. The tenant, Ideas Well Done, will move into the space in early December. Fernando Cresta and Doug Nedde of Nedde Real Estate co-own the property. Meg McGovern of Donahue & Associates represented the tenant in the lease.
WASHINGTON, D.C. — Atlanta-based Columbia Property Trust Inc. has executed more than 100,000 square feet of leases this year at 80 M Street, a 285,000-square-foot office building in Washington, D.C., that the company has owned since 2004. The Class A office building is located in the Capitol Riverfront submarket and is within walking distance of the Washington Nationals’ ballpark and the Navy Yard/Ballpark Metrorail station. The leases include a 15-year deal with WeWork, a shared office space provider, for 68,673 square feet; a 24,224-square-foot renewal with Gryphon Technologies, a military engineering company; and a new 14,990-square-foot lease with General Dynamics Information Technology, a defense services provider. Columbia Property Trust is also investing $3 million in renovations at the office building that will add a new entrance, collaborative main lobby, outdoor terrace and tenant lounge. The investment will also include renovations of the building’s elevators, fitness facility and restrooms. WeWork will occupy portions of the first, second and third floors and will feature a dedicated entrance within the main lobby. The company is expected to open its offices in the third quarter of 2017.
GLEN ALLEN, VA. — BH Properties has sold the Owens & Minor office building to Real Estate Value Advisors for $8.3 million. The 62,941-square-foot property is located at 4800 Cox Road in Glen Allen, a suburb of Richmond. The building was 98 percent leased at the time of sale to three tenants: The Winebow Group, Covington Travel and Free Agents Marketing. Eric Robison, Mark Douglas and Mac Wilson of Cushman & Wakefield | Thalhimer brokered the transaction.
BUENA PARK, CALIF. — M+D Properties will open the 400,000-square-foot retail and entertainment component of The Source, a 600,000-square-foot mixed-use development located in Buena Park, early next year. CGV Cinemas anchors the retail component of the development, which will feature tenants including OOAK Kitchen, Samgeori Butchers Pork Charcuterie, Olympus Screen Golf & Bar, Copley and HoneyMee. Upon completion, the property will also feature a 60,000-square-foot, Class A office building and a four-star Hilton Hotel. JLL’s Jay Nugent and Naomi Rizkowsky have been retained to handle leasing for the office component.
RICHARDSON, TEXAS — NAI Robert Lynn has arranged two office leases totaling 13,911 square feet in Richardson. In the first deal, Apollo Managing General Agency LLC leased 9,501 square feet of office space at 2425 Central Expressway. Kent Smith of NAI Robert Lynn represented the tenant, while Laura Maczka of Sooner National represented the undisclosed landlord. In the second transaction, Kruvand Associates Inc. leased 4,490 square feet of office space at 1201 Richardson Drive. Smith represented the tenant, while Bill Rudd of Haggard Property Group represented the undisclosed landlord.
HOUSTON — CBRE has arranged an office relocation for Thompson & Knight LLP from 333 Clay St. to BG Group Place at 811 Main in Houston. The law firm will occupy two-and-a-half floors at the 900,000-square-foot office building. Kevin Kushner, Charles Gordon and Lucian Bukowski of CBRE represented the tenant in the lease transaction.
KANSAS CITY, MO. — CBRE has arranged the sale of Two Pershing Square, a 520,431-square-foot office building in Kansas City. The sales price was not disclosed. The Class A office building, located at 2300 Main St., is 11 stories and anchored by GSA’s Heartland Region office. VanTrust Real Estate LLC purchased the asset from TA Associates. Gina Anderson and Gary Carr of CBRE arranged the transaction on behalf of TA Associates.
WALLED LAKE, MICH. — Gerdom Realty & Investment has arranged the sale of a 19,798-square-foot office building in Walled Lake, a northern suburb of Detroit. The sales price was not disclosed. The office building is situated on 4.1 acres at Ladd Road, just south of Maple Road. A Detroit-based church was the buyer. Michael Murphy and Tjader Gerdom of Gerdom Realty represented the seller in the transaction.
TUSTIN, CALIF. — Lincoln Property Co. and Alcion Ventures have gained approval from the City of Tustin to move forward on Flight, an 870,000-square-foot creative office campus within the 1,600-acre master-planned community of Tustin Legacy. Flight will contain a mix of four-story buildings with outdoor platform decking and roll-up doors. The Rios Clementi Hale Studios-designed buildings will feature perforated metal building skins that shade the indoor/outdoor office space and large glass curtain walls on the ends to allow light penetration. Flight will be constructed in two phases, with Phase I anticipated to begin in early 2017 and finish within 14 to 18 months. Phase I will include more than 470,000 square feet of office space, a mess hall and conference center.