COLLEGE STATION, TEXAS — Oldham Goodwin Capital has closed on the acquisition of The Science Park at Research Valley, an 180,000-square-foot office, business and technology park located at 2501 Earl Rudder Freeway S. in College Station. Oldham Goodwin Capital, the sponsor and a subsidiary of Oldham Goodwin Group LLC, will be renaming the development Providence Park at Research Valley. The property spans 54 acres near State Highway 6.
CHARLOTTE, N.C. — The Bissell Cos. has signed Wells Fargo to a full-building lease at the Brigham Building situated within Ballantyne Corporate Park in Charlotte. Located at 11625 N. Community House Road, the 10-story, 287,507-square-foot is under construction and set for completion in December. Wells Fargo will occupy the building starting in 2017. The Class A office building overlooks The Golf Club at Ballantyne and features a two-story lobby, glass exterior curtain walls and free structured parking. The Bissell Cos. is developing Brigham Building to achieve LEED Gold certification.
LOS ANGELES — Swift Realty Partners has purchased The Academy Tower, a 175,175-square-foot office campus within the Arts District of North Hollywood (NoHo), for $61.5 million. The two-building, Class A property is located at 5200 Lankershim Blvd. It was built in 1991. The Academy Tower is 80 percent leased by 17 tenants. Most tenants are within the film, tech and television industries. Swift represented itself in this transaction, while the seller was represented by NGKF’s Sean Fulp, Kevin Shannon, Brad Burton and Rob Hannan. David Milestone and Scott Selke of NGKF Capital Markets will arrange the debt on behalf of the buyer. CBRE’s Matthew Heyn and Troy Pollet provided leasing support.
IRVINE, CALIF. — HCP has sold a portfolio of 64 properties leased to Brookdale Senior Living Inc. for $1.1 billion. Affiliates of Blackstone Real Estate Partners VIII L.P. bought the 5,967-unit portfolio, which equates to a $189,000-per-unit sale price. Occupancy for the portfolio was 85.2 percent at the time of sale. Proceeds from the sale will be used to pay down debt and general corporate purposes. In addition to selling the Brookdale properties, HCP plans to terminate leases on 25 Brookdale properties totaling 2,031 units over the next year. The moves are part of a strategy by HCP to reduce the saturation of Brookdale-operated properties within its portfolio. HCP also plans to transfer eight expiring Brookdale triple-net leases to a RIDEA structure, through a joint venture where Brookdale acquires 10 percent interest in the properties.
CHICAGO — Baum Realty Group LLC has arranged the sale of a mixed-use building, located at 1439 N. Milwaukee Ave. in Chicago’s Wicker Park/Bucktown neighborhood. The property’s ground-floor retail space is occupied by Taco Bell Cantina, which offers the brand’s traditional food menu in addition to beer, wine and frozen alcohol drinks. The three uppers floors contain five recently updated apartments ranging from one-bedroom layouts to a three-bedroom unit. The property sold for $2.4 million. Greg Dietz and Danny Spitz of Baum Realty Group represented the seller, a local investor. The buyer is a Chicago-based investment group.
DOWNERS GROVE, ILL. — Transwestern and Darwin Realty have brokered a 24,400-square-foot lease at Corridors I, a 149,896-square-foot office building located at 2651 Warrenville Road in Downers Grove. PLZ Aeroscience Corp., a specialty aerosol product manufacturer, plans to move its headquarters to Downers Grove in February from its current location in Addison. The Downers Grove office will house approximately 80 employees. Corridors I and II were acquired by Transwestern Investment Group in 2013. Transwestern was self-represented by Joe Stevens, Fred Ishler and Lindsay Borkan in the transaction. Adam Haefner of Darwin Realty represented the tenant.
CHICAGO — Essex Realty Group Inc. has brokered the $1.98 million sale of 2843 N. Milwaukee Ave., a 10-unit mixed-use building located in the Logan Square neighborhood of Chicago. The property includes six apartments consisting of two one-bed units and four two-bed units, two street retail spaces and two flex spaces in the rear. The property is situated near the Logan Square CTA stop, which services the Blue Line to Chicago’s Loop and O’Hare International Airport. Jim Darrow and Jordan Gottlieb of Essex Realty Group were the brokers in the transaction.
WASHINGTON, D.C. — The JBG Cos. has sold a Class A, eight-story office building located at 1025 Thomas Jefferson St. in Washington, D.C.’s Georgetown district for $141.8 million. HFF represented JBG Cos. and procured the buyer, Alduwaliya Asset Management, a private investment vehicle based in the United Kingdom that represents a high net-worth family in Qatar. The 317,248-square-foot building is situated directly across from Georgetown Waterfront Park and Washington Harbour. The building was 96 percent leased at the time of sale to 22 tenants including Palantir Technologies, the American Institutes of Research, Carlton Fields, Education Development Center and Combined Properties. Built in 1984, 1025 Thomas Jefferson features two multi-level courtyards with fountains, a brick façade, fitness center, deli, Metrorail shuttle and 268 below-grade parking spaces. Jim Meisel, Dek Potts, Andrew Weir, Stephen Conley and Matt Nicholson led HFF’s investment sales team in the transaction.
LAKE MARY, FLA. — Cushman & Wakefield has brokered the $130 million sale of Primera Towers, a five-building, 771,826-square-foot office campus in Lake Mary, a suburb of Orlando. Miami-based Parmenter Realty Partners purchased the portfolio from an ownership group including Miami-based Banyan Street Capital, Los Angeles-based Oaktree Capital Management and Munich-based Balandis AG. Mike Davis, Michael Lerner and Rick Brugge of Cushman & Wakefield represented the seller. The transaction is Orlando’s largest suburban office sale since the disposition of Heathrow International Business Center in 2002.
DALLAS — Gardere Wynne Sewell LLP, a Dallas-based law firm, has moved to the McKinney & Olive office building located in Uptown Dallas. The firm is the building’s largest tenant, occupying 115,000 square feet across four floors. The office houses Gardere’s 287 Dallas-based attorneys and legal professionals. Gensler handled the interior design, with work areas featuring a combination of pods, counter-height tables and dedicated and flex space, as well as individual offices with glass walls. Conference rooms can be adjusted for larger or smaller meetings with demountable walls. Archives are now stored electronically, allowing the firm to allocate more space for multi-purpose meeting rooms instead. The firm’s legal library is also now stored digitally.
