COLLEGE STATION, TEXAS — Oldham Goodwin Capital has closed on the acquisition of The Science Park at Research Valley, an 180,000-square-foot office, business and technology park located at 2501 Earl Rudder Freeway S. in College Station. Oldham Goodwin Capital, the sponsor and a subsidiary of Oldham Goodwin Group LLC, will be renaming the development Providence Park at Research Valley. The property spans 54 acres near State Highway 6.
ARLINGTON, VA. — Transwestern has arranged the $69.5 million sale of Ballston Metro Center, a 235,568-square-foot office building located at 901 N. Stuart St. in Arlington, roughly five miles outside of Washington, D.C. A joint venture between PERSEUS Realty and ELV Associates purchased the asset from Ballston Metro Investors LLC. Gerry Trainor and Mark Glagola of Transwestern’s Mid-Atlantic capital markets group represented the seller in the transaction. The new ownership group plans to make capital improvements to the office building. Ballston Metro Center is situated directly above Ballston Metro Station and within one block of Ballston Common Mall, which is undergoing a $317 million renovation and repositioning into Ballston Quarter.
CHARLOTTE, N.C. — The Bissell Cos. has signed Wells Fargo to a full-building lease at the Brigham Building situated within Ballantyne Corporate Park in Charlotte. Located at 11625 N. Community House Road, the 10-story, 287,507-square-foot is under construction and set for completion in December. Wells Fargo will occupy the building starting in 2017. The Class A office building overlooks The Golf Club at Ballantyne and features a two-story lobby, glass exterior curtain walls and free structured parking. The Bissell Cos. is developing Brigham Building to achieve LEED Gold certification.
CHARLOTTE, N.C. — Stiles plans to develop a new Class A, 64,000-square-foot office building located at 300 W. Summit Ave. in Charlotte’s historic South End neighborhood. The three-story project will feature underground parking and a rooftop terrace. The asset will be situated within walking distance of the Bland Rail Station, less than one mile from the Dowd YMCA and three miles from I-85. Stiles’ Charlotte office has begun site work and will begin vertical construction in March 2017, with an expected delivery in first-quarter 2018. Charley Leavitt and Stephen Woodard of JLL are handling the office building’s leasing responsibilities.
SAN DIEGO — Mitek has leased 29,000 square feet of office space in downtown San Diego. The mobile capture and identity verification software solutions provider relocated from its current headquarters in Kearny Mesa. The new space is located at 600 B St. Mitek completed the relocation in October. Ron Miller of Colliers International represented Mitek in the lease deal.
LOS ANGELES — Swift Realty Partners has purchased The Academy Tower, a 175,175-square-foot office campus within the Arts District of North Hollywood (NoHo), for $61.5 million. The two-building, Class A property is located at 5200 Lankershim Blvd. It was built in 1991. The Academy Tower is 80 percent leased by 17 tenants. Most tenants are within the film, tech and television industries. Swift represented itself in this transaction, while the seller was represented by NGKF’s Sean Fulp, Kevin Shannon, Brad Burton and Rob Hannan. David Milestone and Scott Selke of NGKF Capital Markets will arrange the debt on behalf of the buyer. CBRE’s Matthew Heyn and Troy Pollet provided leasing support.
RICHARDSON, TEXAS — Corporate Properties Trust I LP, a partnership between Transwestern Investment Group and Mirae Asset Global Investments Co., has closed on the acquisition of a 2.2 million-square-foot mixed-use project in a sale-leaseback with State Farm Auto Insurance Co. According to the Dallas Business Journal, the purchase price was $825 million. The partnership acquired the four primary office/retail towers and the connected structured parking garages. The campus is located within the CityLine development, a 186-acre project developed by KDC. The buildings are designated LEED Gold and are located adjacent to a DART rail line. Corporate Properties Trust I LP will own the properties through a REIT. The entity was created to allow long-term stable ownership of institutional properties. A wholly owned subsidiary of Transwestern Investment Group will manage the property. Located at 1150, 1201 and 1251 State St. and 3661 N. Plano Road, the buildings will house 8,000 State Farm employees. CityLine, which is located at the southeast corner of Highway 75 and the President George Bush Turnpike, will also include 1,700 apartments, a 150-room hotel, an entertainment center, medical office facility, retail, restaurants and a 3.5-acre park.
DALLAS— The Weitzman Group has negotiated the sale of an 11,198-square-foot office building located at 2520 Fairmount St. in Dallas. The building is located near Whole Foods Market and Gold’s Gym in the Uptown district. Matthew Rosenfeld of The Weitzman Group handled negotiations for the seller, a Houston-based limited liability company. Daniel Miller and Alexis Martinez of Rubicon Representation represented the buyer, Henley & Henley P.C., a law firm that will locate its office within the property. The two-story office building recently underwent a renovation. Current tenants at 2520 Fairmount include the practice of Mint Dentistry and T-Off Your Men’s Health.
IRVING, TEXAS — A10 Capital LLC has signed a seven-year lease for half of the penthouse floor in Canal Centre, a Class A office property on the bank of Lake Carolyn in the Las Colinas Urban Center. The commercial real estate lender is more than doubling in size, leasing 8,160 square feet on the 10th floor of 400 E. Las Colinas Blvd. in Irving. A10 will relocate in early January to space previously occupied by ESPN in the 240,000-square-foot office building. The lease includes a right of first refusal on 4,003 square feet of vacant space on the penthouse level, monument signage and an amenity package with free access to an upgraded fitness center and conference room. Boise, Idaho-based A10 Capital, a commercial real estate lender to the U.S. middle market, first opened its Texas office four years ago, leasing 3,496 square feet at nearby Crestview Tower. The new office is being designed for 25 professionals in management, loan origination and credit and asset management. Canal Centre and its attached six-story parking garage were built in 1983 on a three-acre tract. Amenities include on-site property management, a Wi-Fi café and 24-hour security. Marc Grossfeld and Tabitha Layne of Sunwest Real …
SOUTHFIELD, MICH. — Raleigh Officentre Southfield LLC selected Friedman Integrated Real Estate Solutions to manage, lease and oversee planned improvements for Raleigh Officentre in Southfield, a suburb of Detroit. Located at 25300 and 25330 Telegraph Road, the 297,000-square-foot Raleigh Officentre consists of two connected six-story office buildings on 14.6 acres. Friedman’s construction and design team will oversee the planned improvements, including landscape enhancements and fully remodeled lobbies. Spaces available for lease range from 1,000 to 280,000 square feet.
