LISLE, ILL. — Morgan/Harbour has completed an office renovation of a 10,466-square-foot building in Lisle for law firm Clingen Callow & McLean LLC (CCM). The property is located at 2300 Cabot Drive. Founded in 1995, CCM has relocated its offices to Lisle from Wheaton, Ill. The firm also operates an office in Geneva, Ill., which it will retain. The new Class A building consists of 24 private offices, open office space, three conference rooms, a copy room and break room. Morgan/Harbour’s construction team included Andy MacMillan, John Becker and Keith Zagroba. ConopCo provided project management services and Whitney Architects provided the architectural services.
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ANN ARBOR, MICH. — Colliers International has arranged the lease of 1,220 square feet of retail space, located at 1758 Plymouth Road in Ann Arbor. The tenant, Wings Over, is a restaurant offering take-out and delivery of chicken wings and other foods. The franchise has more than 30 locations throughout the country. This will be the restaurant’s first location in Michigan, which is set to open this winter. Jim Chaconas and Brendan Cavender of Colliers International represented both the landlord and the tenant in the lease transaction.
BURBANK, CALIF. — Granite Properties has acquired a 150,000-square-foot office building in Burbank for $49 million. The 10-story tower is located at 2600 West Olive in the city’s Media District. The building is currently 87 percent leased to a variety of media-related companies. It was built in 1986. The seller, Legacy Partners Realty Fund I LLC, had previously made improvements to the building’s main lobby, restrooms, upper lobbies and parking areas. Legacy was represented by CBRE’s Kevin Shannon, Tom Bolinger, Ken White and Mike Longo.
BREA, CALIF. — The PRES Companies has acquired a two-project office portfolio in Orange County for $42 million. The four-property portfolio totals 290,657 square feet. The transaction includes the 171,411-square-foot Brea Park Center. The three-building property is located at 2601 Saturn Street, 500 S. Kraemer Blvd. and 2650 E. Imperial Highway. Notable tenants include Citizens Business Bank, General Services Administration (GSA), FIT Electronics and theCalifornia Department of Public Health. The transaction also includes the 119,246-square-foot Brea Corporate Plaza, which is located at 3230 E. Imperial Highway. Notable tenants include Nestle Waters andYellow Box Corp. Both properties are located in Brea near the 57 and 91 freeways in north Orange County. PRES will also assume leasing and management responsibilities for the portfolio. The firm was represented by Dan Vittone and Alan Pekarcik of Avison Young’s Irvine office.
DENVER – Advenir has acquired the 326-unit Lowry Heights apartment complex in Denver for $35 million. The Class B community is located at 8000 East 12th Ave. Property amenities include a 10,000-square-foot clubhouse with an indoor basketball court, a fitness center, movie theater, billiards, a business center and leasing center. It also includes a junior Olympic-sized swimming pool, and a splash pool and a hot tub, in addition to a playground, barbeque grill, picnic area and multiple courtyards. The seller, The Bascom Group, made significant capital improvements to the property over the past six years. Advenir plans to further enhance the amenities and unit interiors. Advenir represented itself in this transaction. Bascom was represented by ARA Denver. Financing was secured by Charles Foschini of CBRE.
MESA, ARIZ. – Security Properties has acquired the 388-unit Sonora Canyon apartment community in Mesa for $30 million. The community is located at 265 North Gilbert Road. Sonora Canyon is set to receive a $2.6-million renovation. It will include upgrades to the clubhouse, pool and interior units. Security Properties had previously purchased the property in 2005 for $22 million. It was known as University Green at the time. The firm sold the community in 2007 for $33.3 million. The property was purchased by Security Properties in conjunction with an East Coast life insurance company.
DENVER – The Waner Building, an 11,971-square-foot office property in Highlands Ranch, has sold to Winkes Sound LLC & Lorenz Sound LLC for $2.4 million. The building is located at 8950 Barrons Blvd. in the Littleton suburb. It is fully occupied by two triple-met tenants, Waner Construction and Great West. Winkes Sound was represented by Brandon Gouker of Pinnacle Real Estate Advisors. The seller, Hubba Hubba LLC, was represented by Rob Edwards, Eric Shaw and Tom Ethington of the same firm.
AUSTIN — HFF has secured joint venture equity and financing for a six-property multifamily portfolio in Austin. HFF worked on behalf of Commerce Capital Partners LLC to secure joint venture equity through Harbert United States Real Estate Fund V. HFF also placed six separate 12-year Fannie Mae loans with M&T Realty Capital Corp. Each loan has a four-year, interest-only period. The HFF team representing Commerce Capital included Robert Wooten, Doug Opalka and Matt Kafka.
TOMBALL, TEXAS — Houston-based Baker Katz has begun construction on the company’s retail center in Tomball, approximately 33 miles northwest of Houston. The property, which was purchased by Baker Katz earlier this year, was formerly a gas station. The site is located at FM 2920 and Highway 249, adjacent to another Baker Katz-owned shopping center. The building will be occupied by a 3,400-square-foot Pacific Dental Services office and a 4,200-square-foot Mattress Firm store. In total, the building will span 7,600 square feet. The two tenants are slated to open late this year.
CLEBURNE, TEXAS — Dougherty Mortgage LLC has arranged a $2.4 million Fannie Mae loan for the acquisition of Northridge Court Apartments, an 86-unit apartment complex in Cleburne. Dougherty’s Dallas office arranged the 10-year loan for DCP Skyline II LLC. The loan carries a 30-year amortization schedule. Dougherty Mortgage is based in Minneapolis with regional offices in California, Colorado, Maryland and Texas.