SAN DIEGO – Medical Realty Group has acquired an 8,500-square-foot medical office building in the San Diego submarket of El Centro for $2.5 million. The building is located at 1410 South La Brucherie Road. It is fully occupied by Vantage Oncology Treatment Centers. The property also underwent a recent renovation and expansion. The seller, the Scott Family Trust, was represented by Paul Lafrenz of Colliers International.
SCOTTSDALE, ARIZ. – Soilworks has signed a lease for Class A office space in Scottsdale. The dust control and soil stabilization provider plans to relocate its new world headquarters inside the space. The office will be located at 7580 N. Dobson Road. It is situated just east of the Loop 101 freeway, within Riverwalk Arizona. Soilworks was represented by JLL’s John Pierson and Trevor Pratt. The landlord, the Alter Group, was represented in-house by Justin Miller.
LEHI, UTAH – Hales Engineering has purchased 5,400 square feet of office space in Lehi for an undisclosed sum. The space is located at 1220 North 500 West. The new location will be used for the civil engineering company’s headquarters and main offices. Preston Davis and Kevin Ford of Newmark Grubb ACRES represented both the buyer and seller, Wells Fargo Bank, in this transaction.
FORT WORTH — Marcus & Millichap has arranged the sale of Pollo Tropical, a 3,722-square-foot net-leased property located in Fort Worth. Jason Vitorino and Jared Aubrey of Marcus & Millichap’s Dallas office marketed the property on behalf of the seller, a limited liability company. Another agent based in the firm’s San Diego office procured the buyer, a private investor. Pollo Tropical is located at 8900 Tehama Ridge Pkwy., off I-35 West and North Tarrant Parkway. Built in 2014, the asset has 20-year ground lease on a pad site in front of Costco Wholesale.
FORT WORTH, TEXAS — Hillwood Properties has secured a new lease from Title Source, an independent provider of title insurance, property valuations and settlement services in the nation. The company is the first tenant at the new Hillwood Commons I office complex at Alliance Town Center, and will lease more than 10,000 square feet at the facility. The property is located on the north side of Heritage Trace Parkway.
NEW YORK CITY — Meridian Capital Group has negotiated a $22.5 million loan for the acquisition of an office condominium in Brooklyn. The three-year, interest-only loan, which was provided by a regional balance sheet lender, features a floating rate and two one-year extension options. The loan is for the acquisition of the top four floor, totaling 76,500 square feet, of Montague Pavilion Condominium. Built in 1960, the 14-story office building is located at 195 Montague St. in Brooklyn. Tal Bar-Or of Meridian’s New York City headquarters brokered the acquisition loan on behalf of the sponsor.
RIDGEWOOD, N.J. — Marcus & Millichap has brokered the sale The Lincoln Building, an office property at 45 N. Broad St. in Ridgewood. The 24,000-square-foot multi-tenant property sold for $3.9 million. David Thurston of Marcus & Millichap’s New Jersey office represented the seller, a partnership, and secured the buyer, a local limited liability company, in the transaction. Additionally, Bruce Whitaker of Ramsey, N.J.-based McDonnel Whitaker served as legal counsel for the seller, while Michael Ochs of Hasbrouck Heights, N.J.-based Bertone Piccini provided legal representation for the buyer.
WOLCOTT, CONN. — Sequel Special Products has acquired an industrial facility located at 1 Hillside Dr. in Wolcott. Silversword Property LLC sold the 37,000-square-foot property for $2.4 million. The medical device manufacturing company will relocate operations from 122 Avenue of Industry in Waterbury, Conn. The former tenant, Alden Manufacturing, is relocating to its sister facility in Wolcott. Gerry Matthews of Matthews Commercial Properties was the sole broker in the deal.
NEW YORK CITY — Avison Young has brokered a 10-year lease for Trolman, Glaser & Lichtman P.C. at 747 Third Ave. in Manhattan. The law firm will occupy the entire 23rd floor, totaling 9,310 square feet, of the Class A office building. The law firm is currently located at 777 Third Ave. and is expected to relocate in second quarter 2015. Michael Gottlieb, Anthony Lopresti and Jason Meister of Avison Young represented the tenant, while Michael Lenchner of Sage Realty Corp. provided in-house representation for the landlord, William Kaufman Organization.
WASHINGTON, D.C. — Fried, Frank, Harris, Shriver & Jacobson LLP represented an affiliate of Carr Properties as landlord in a 700,000-square-foot lease of a building to be constructed for Fannie Mae’s new headquarters at 15th and L streets in Washington D.C. The new build-to-suit property will replace The Washington Post’s current headquarters. The lease is the largest ever non-government lease in Washington, D.C. The Fried Frank team was led by real estate partner Franz Rassman and included real estate associates Valerie Kelly, Neil Hood and Matthew Greeson.