COSTA MESA, CALIF. — Haynes and Boone has leased 22,466 square feet at Plaza Tower in Irvine. The law firm will be located at 600 Anton Blvd., which is adjacent to South Coast Plaza and the Segerstrom Center for the Arts. The firm will occupy the space by September. It is relocating from Irvine Towers. Other tenants at the Class A tower include Dorsey and Whitney, Bingham McCutchen, Baker & Hostetler and Snell & Wilmer. Plaza Tower was represented by Rick Kaplan, Robert Lambert and Matt Moore of Cushman & Wakefield.
Property Type
GLENDALE, ARIZ. — Talavi Business Park, a 24,180-square-foot office complex in Glendale, has sold to the Heart and Vascular Center of Arizona for $2.3 million. The Class B complex is located at 5810 West Beverly Lane. Ironwood Glendale LLC purchased the property on behalf of the heart and vascular center. The seller, the Coneen Family Trust, was represented by Cassidy Turley’s Eric Wichterman and Mike Coover.
TYSONS CORNER, VA. — Calkain Cos. has brokered the $24.7 million sale of a CVS/pharmacy store at 8117 Leesburg Pike in Tysons Corner, about 16 miles west of Washington, D.C. The asset sold for the lowest cap rate (4.97 percent) of any CVS/pharmacy sale in the United States, according to Calkain. Jonathan Hipp, Andrew Fallon and Jonathan Florin of Calkain represented the sellers, Regency Centers and J. Donegan Co., in the transaction. The buyer, an unnamed entity based in the Middle East, purchased the property in conjunction with The Rappaport Cos.
MIAMI AND MEDLEY, FLA. — JLL has brokered the sale of two industrial facilities totaling 312,000 square feet in South Florida. In the first transaction, Marjam Supply Co. Inc. purchased a 271,000-square-foot warehouse located at 18000 State Road 9 in Miami’s North Dade submarket. Brian Smith and Audley Bosch of Cushman & Wakefield represented the seller, ProLogis, in the transaction. Steven Medwin, Nick Wigoda and Matt Maciag of JLL represented the buyer. In the second transaction, the JLL team represented ProLogis in the sale of a fully leased, 41,000-square-foot facility inside of the Pan American North Business Park at 11200 N.W. 138th St. in Medley. An institutional investor purchased the asset for an undisclosed price.
YOUNGSVILLE, N.C. — Trinity Partners Construction Services has completed the renovation of Xerium Technologies’ 43,387-square-foot office located at 14101 Capital Blvd. in Youngsville. Xerium Technologies is a manufacturer and supplier of products used in the paper manufacturing business. The project included updated office space, a new fitness center, dining area with full kitchen and an outdoor patio with an outdoor kitchen. The building’s owner, Clemmons and Berenthal LLC, tapped Trinity Partners Construction, a division of Trinity Partners, for the construction project. Phillips Architecture PA designed the renovation project.
KENNESAW, GA. — Westwood Financial Corp. has executed a new 10-year lease agreement with Pep Boys for a 5,000-square-foot store at Orchard Square in Kennesaw. Orchard Square is a 94,212-square-foot, Publix-anchored shopping center located at 4290 Bells Ferry Road N.W. near I-575. Other Orchard Square tenants include Harbor Freight Tools, Super Clips, First Acceptance Insurance and Mail Boxes Etc. Pep Boys operates roughly 800 automotive stores in 35 states and Puerto Rico.
CHICAGO — J.C. Anderson has completed a 16,000-square-foot office renovation for SunTrust Bank in Chicago. The bank is relocating to the Citigroup Center at 500 W. Madison St. from another office location in Chicago. The interior build-out included the demolition of the existing space to reconstruct a new layout and customized interior. The project featured the addition of private offices, a trading area and a social media center for incoming guests. Corgan Architects provided architectural services for the project. Founded in 1811, Atlanta-based SunTrust Bank operates 1,665 retail branches and 2,924 ATMs in the United States.
MCCOOK, ILL. — Dermody Properties has broken ground on LogistiCenter McCook, a 662,700-square-foot industrial complex located at 1st Ave. and 47th St. in McCook, approximately 11 miles southwest from downtown Chicago. The first of two buildings at the complex will include 351,900 square feet at a clear height of 32 feet with 289 car parking stalls, four drive-in doors and 74 dock positions. Building two will include 310,800 square feet at a clear height of 32 feet with 343 car parking stalls, four drive-in doors and 70 dock positions. The industrial park is located at the four-way interchange of I-55 and 1st Avenue. Dermody Properties is developing the industrial park in partnership with AEW Capital Management.
HIGHWOOD, ILL. — Marcus & Millichap has arranged the $865,000 sale of a nine-unit apartment property in Highwood located approximately 30 miles north of downtown Chicago. The address of Sheridan Point Apartments is 740 Sheridan Road. The property sold in 55 days. This nine-unit building consists of a mix of one-, and two-bedroom units. Alan Katamanin of Marcus & Millichap represented the seller, a private investor. Ryan Engle and Andrean Angelov of Marcus & Millichap represented the buyer, a private investor, in the transaction.
PACIFIC, MO. — Hilliker Corp. has arranged the $365,000 sale of a 9,000-square-foot office and warehouse space in Pacific, located at 4 Midwest Drive approximately 35 miles southwest of St. Louis. Scott Martin of Hilliker Corp. represented the seller, Howard Selcke. L.T. David Gitt of KW Commercial represented the buyer, Doug and Kelly Shelton. The new owner plans to build a fence around the property and pave its gravel road and parking area. The building was originally constructed as a truck transfer warehouse and terminal. The property, which is located on a two-acre lot, includes five sets of cross-docks and a drive-in area. Approximately 4,000 square feet of the building is designated for office space. MasTec, an infrastructure construction company, will lease the 9,000-square-foot property effective June 15.