HOPKINS, MINN. — Citrus Systems Inc., a privately owned, Minnesota-based manufacturer of packaged fruit juices and beverages, has signed a lease for 132,000 square feet of space at Cornerstone Business Center in Hopkins, a southwest suburb of Minneapolis. Citrus Systems will expand its operations by 50,000 square feet and relocate from its current facility at 125 Jackson Ave. this fall. With this lease, Cornerstone Business Center, a 222,194-square-foot, Duke Realty-owned and managed industrial building is fully occupied. Duke Realty’s in-house construction team will serve as general contractor for the build-out of Citrus Systems’ new space. Tom Bennett and Jack Tornquist of CBRE represented Citrus Systems in the transaction. Scott Moe, Brad Bohlman and Paul Bickford of Colliers International represented Duke Realty.
LOMBARD, ILL. — Marcus & Millichap has arranged the sale of a 12,440-square-foot mixed-use property located in Lombard, about 20 miles west of Chicago, for $850,000. The buyer, a local property investor, was secured and represented by James Clough of Marcus & Millichap. Brian Kochendorfer of Sperry Van Ness represented the seller, a family partnership that developed the property. The asset is located at 145 S. Main St. and includes 23 units. The property consists of two buildings: the front building has four commercial units, eight studio apartments, and eight one-bedroom units; the rear building is a converted house with two one-bedroom units and one two-bedroom unit.
BRIDGEWATER, N.J. — Mack-Cali Realty Corp. (NYSE: CLI) has sold its 55 Corporate Drive office building in Bridgewater for $72.3 million. The four-story, 205,439-square-foot Class A property was sold to a subsidiary of Cole Corporate Income Trust Inc., an entity managed by Cole Real Estate Investments. The building, which was developed by Mack-Cali as a build-to-suit for Sanofi-Aventis, was completed in early 2011. Adam Spies, Kevin Donner and Neill Wessell of Eastdil Secured LLC represented Mack-Cali in this transaction.
ELMHURST, N.Y. — New York City officials and employees from Stalco Construction Inc. celebrated a topping-out ceremony for the $27.8 million, 30,000-square-foot Queens Library at Elmhurst. The new four-story library, which is expected to open in 2014, will be double the size of the former library and feature separate library areas for adults, children and teens. Stalco Construction was the general contractor. Other project team members include architect Marpillero Pollak Architects, structural engineer Severud Associates, mechincal electrical and plumbing engineer Ads Engineers, lighting designer See/Arch and landscape architect Wallace Roberts & Todd.
NEW YORK CITY — Emerge212, a Manhattan boutique office environment service provider, has celebrated the grand opening of two new workspace centers at 3 Columbus Circle (3CC) and 125 Park Avenue in Manhattan. The centers total 90,000 square feet of flex office space. The 60,000-square-foot office at 3CC, which has recently undergone a $175 million redevelopment program, is situated on the 15th and most of the 16th floors of the 26-story building. The 30,000-square-foot office at 125 Park Avenue occupies the top two floors, 25 and 26. David Silverman of New York City-based Loffredo Brooks Architects designed the interiors of 3CC and 125 Park Avenue. Features of the new offices include private phone booths, a water/coffee bar and oversized boardrooms. Approximately 50 percent of 3 Columbus Circle is preleased and about 25 percent is preleased at 125 Park Avenue. SL Green owns both properties.
STAMFORD, CONN. —The Navigators Group Inc. has signed a long-term lease to occupy the entire eighth floor — totaling 36,782 square feet — at 400 Atlantic St. in Stamford. The international specialty insurance holding company will relocate its corporate headquarters from Rye Brook, N.Y., bringing with it an additional 200 jobs. Navigators joins a tenant roster at the 15-story, 500,000-square-foot Class-A office tower that includes corporations such as Charter Communications, UBS, American Express, The Santander Group and Harman Kardon. The Landis Group is the landlord at 400 Atlantic St.
PLANO, TEXAS — Aragon Holdings, a real estate investment and fund management company based in Beverly Hills, Calif., has acquired two Class A multifamily properties in Plano through its $50 million Aragon Multi-Family Cash Flow Fund II. The two communities are the 208-unit Reserve at Pebble Beach and the 208-unit Somerset at Spring Creek. Freddie Mac provided acquisition financing.
DALLAS — Dallas-based 7-Eleven Inc. has retained NRC Realty & Capital Advisors to sell 139 gas stations/convenience stores across the U.S. The stores are located in Texas (83), Florida (31), Ohio (11), Pennsylvania (eight), Utah (five) and Wisconsin (one). Of the Texas stores, 43 are located in Dallas/Fort Worth, 10 in San Antonio, 10 are near Austin and remainder are located throughout east Texas. The store's lot sizes range from 10,000 square feet to 75,000 square feet and the store sizes range from kiosks to 6,700 square feet. All sites are being sold without 7-Eleven branding.
RICHARDSON, TEXAS — Stream Realty has arranged a 170,000-square-foot lease expansion and extension with Texas Capital Bank at 2350 Lakeside in Richardson. Tommy Nelson and Jeff Schweitzer of Stream Realty represented the landlord, Lakeside Tower, in the transaction. Terry Quinn of Cresa Dallas represented Texas Capital Bank.
HOUSTON — Transwestern's Houston office has been awarded the office leasing assignment for a new 125,000-square-foot, Class A office building slated to begin construction in Houston. The office building will be part of LaCenterra at Cinco Ranch, a 34-acre Main Street-style town center development located in the master-planned community of Cinco Ranch. The mixed-use center is fully leased to more than 50 retailers and restaurants and includes 90,000 square feet of office space. Houston-based Vista Cos. and Denver-based Amstar formed a partnership to develop and manage the mixed-use development. The new office building is part of Phase II of development, which will include the addition of 130,000 square feet of retail space and a 300-unit luxury residential project. Phase II will also include the construction of an outdoor event center called Central Green, which is being developed in partnership with the Willow Fork Drainage District.