HOUSTON — Commercial real estate firm Studley has arranged a 13,500-square-foot office lease in Houston’s Galleria submarket for the national law firm of Wilson Elser. The tenant will occupy space on the 33rd floor of Two Houston Center, located at 909 Fannin Street. Wilson Elser will relocate from Houston’s CBD, a move necessitated by the firm’s merger with Powers & Frost at the beginning of 2013. Chris Taarzon and David Endelman of Studley represented the tenant in the lease negotiations. Debbie Wilson of CBRE represented the property owner, Crescent HC Investors.
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ADDISON, TEXAS — Holt Lunsford Commercial has arranged a 9,403-square-foot flex space lease in the northern Dallas suburb of Addison. The larger property, Addison Tech Center, is located at 4505 Excel Parkway, in close proximity to Addison Airport, Dallas North Tollway and President George Bush Turnpike. Josh Barnes and Lauren Halstedt with Holt Lunsford represented the landlord in the negotiations. Mike Gravitt of Mike Gravitt & Co. represented the tenant.
LAS VEGAS – The 248-unit Desert Palms North Apartments in Las Vegas has sold to DesertPalms, LP for $7.8 million. The Class C community is located at 1001 E. Carey Ave. It was built in 1992. The complex is currently 78 percent occupied. The seller was Desert Palms North, LLC. The transaction was executed by NAI Vegas’ Sauter Multifamily Group
SUNNYVALE, CALIF. — SK Telecom Americas has relocated and expanded to a 34,697-square-foot space in Sunnyvale. The new office is located at 310 DeGuigne Drive. SK Telecom was previously based at 150 Mathilda Place. The relocation will allow SK Telecom to more than double its previous space. SK Telecom was represented by Fletcher Baker of Cresa San Jose. The landlord, Menlo Equities, was represented by CBRE.
MESA, ARIZ. — Blandford Homes has acquired 19.3 acres in Mesa for $3.2 million. The site is located near the southwest corner of Greenfield Road and McDowell Road. The company plans to develop high-end executive homes on lots containing about 35,000 square feet. Brent Moser, Mike Sutton and Brooks Griffith of Cassidy Turley Arizona’s Land Group represented both the buyer and the seller, Horlacher Foundation, Inc., in this transaction.
LORTON, VA. — CBRE has brokered the $24 million sale of a 90,167-square-foot, Class A office building located at 10555 Furnace Road in Lorton, about 19 miles southeast of Washington, D.C. The Drug Enforcement Administration (DEA) occupies the property, which is located in Gunston Commerce Center. The build-to-suit property houses DEA’s Office of Investigative Technology division. CBRE represented the seller in the transaction. Titanium Real Estate Advisors purchased the facility. The DEA’s lease extends through 2020 and features a five-year renewal option.
ATLANTA — The RADCO Cos. has acquired the 160-unit Les Jardins Apartments, a distressed multifamily community located in Atlanta’s Chamblee submarket, for approximately $9.4 million. The property consists of 60 percent three-bedroom units, 25 percent two-bedroom units and 15 percent four-bedroom units. The asset is located within blocks of an elementary school, middle school and Mercer University’s Atlanta campus. The RADCO Cos. is an Atlanta-based turnaround specialist that currently has more than 5,300 multifamily units in its portfolio. The company will rename the asset Ashford Embry Hills.
ORLANDO, FLA. — Lincoln Property Co. Southeast has arranged the sale of four office buildings totaling 182,000 square feet in metro Orlando in two separate transactions. The combined sales price for the assets totaled $8.7 million. In one transaction, UP Fieldgate US Investments-Fashion Square LLC purchased Corporate Park I and II in Orlando from RGA Real Estate Holdings for $4.75 million. Scott Corbin of Colliers International represented the buyer in the transaction. In the other transaction, Vista Premier Point LLC purchased Premier Point North and South in Orlando suburb Altamonte Springs from RGA Reinsurance Co. for $3.95 million. Joe Rossi of Lincoln Property Co. Southeast represented the sellers in both transactions.
FOUNTAIN INN, S.C. — Cushman & Wakefield | Thalhimer has arranged a lease renewal of 168,087 square feet at 111 Southchase Blvd. in Fountain Inn, about 20 miles southwest of Greenville, S.C. Charles Whitmire, Brian Young and Chris Norvell of Cushman & Wakefield | Thalhimer represented the tenant, Caterpillar Inc., in the lease deal.
CHICAGO — NelsonHill has arranged the sale of three properties on the north side of Chicago totaling $5.3 million. Intrinsic Charter School has purchased the former Shannon Lumber facility at 4540 W. Belmont Ave. The property features a 40,000-square-foot lumber shed and wholesale building situated on 2.3 acres. Shannon Lumber was the owner and operator for 72 years before liquidating the business and listing the property for sale with NelsonHill. Marino Dodge purchased the remaining Gateway Chevy portfolio at 5349-5389 N. Milwaukee Ave. The property consists of two showroom buildings and spans 21,400 square feet. Mark Nelson and Michael Nelson, principals at NelsonHill represented the ownership in the transaction. Duray Electric sold its building at 2050 W. Balmoral Ave. in Chicago. The 57,000-square-foot building features 16- to 24-foot clear ceiling heights with parking. Frank Melchert, senior vice president with NelsonHill, represented the buyer, a private local investor, and the seller in the transaction.