sales_and_leases

Swire Announces Akerman LLP as Lead Office Tenant of Brickell City Centre

by John Nelson October 13, 2014

MIAMI — Swire Properties Inc. has announced that Akerman LLP, a leading transactions and trial law firm, will be the lead office tenant of Brickell City Centre, a $1.05 billion, 5 million-square-foot mixed-use development underway in Miami. Akerman will occupy approximately 108,000 square feet once construction is complete in 2015. The law firm will occupy 80 percent of the Class A office space at Brickell City Centre Green, which is one of two office buildings under construction at the development. Brickell City Centre Green will be located at 98 S.E. Seventh St. Akerman’s Miami office employs 160 lawyers, making it the largest law office in Florida. The law firm has played a significant legal role in the development of Brickell City Centre as real estate and land use counsel to Swire Properties. Tere Blanca of Blanca Commercial Real Estate represented Akerman in the lease transaction. Alexander Cahlin and David Valdez of Blanca Commercial Real Estate assisted in the deal.

October 13, 2014

Office Texas

PM Realty Purchases Eight-Story Office Building in Dallas

by Haisten Willis October 10, 2014

DALLAS — PM Realty Group has purchased One Hanover Park, an eight-story office building located at 16633 North Dallas Pkwy. in Dallas. The 195,894-square-foot property was built in 1998 and includes a three-level parking garage. The Class A office building was 82 percent occupied at the time of sale, with floor plates averaging 25,000 square feet. Eric Mackey, Gary Carr, John Alvarado and Robert Hill of CBRE arranged the transaction on behalf of the seller, a partnership between Cawley Partners and Stockbridge Capital.

October 10, 2014

Colorado Multifamily Western

IMT Capital Buys Alta Alameda Station in Denver

by Nellie Day October 10, 2014

DENVER — IMT Capital has acquired the 338-unit Alta Alameda Station in Denver for an undisclosed sum. The LEED-Gold-certified community is located at 275 S. Cherokee Street in the Baker neighborhood. The Baker neighborhood, just west of South Broadway, hasn’t received any new housing development in 10 years, according to Alta Alameda’s seller, Wood Partners. Alta Alameda was completed this past July. It is currently more than 90 percent occupied. The community sits across the street from the Alameda Light Rail station, which provides access to Downtown Denver and the Denver Tech Center. The site was previously home to a canning facility that provided rations during World War II, a Coors bottling plant and the Denver Studio complex. IMT Capital purchased this community with its affiliate, IMT Residential. Wood Partners is currently building three other luxury apartment communities in the Denver metro area, including Alta City House next to Union Station, Alta Harvest Station in Broomfield and Alta Cherry Hills in Englewood.

October 10, 2014

California Office Western

Uber Leases Space at Monadnock Building in San Francisco

by Nellie Day October 10, 2014

SAN FRANCISCO — Uber Technologies has leased 77,600 square feet at the Monadnock Building in Downtown San Francisco. The 205,000-square-foot building is located at 685 Market Street. Uber will occupy four floors. The Monadnock Building was originally constructed in 1907. It is situated near Uber’s other San Francisco offices. It also offers employees easy access to the BART and MUNI. The property is within walking distance of Union Square. Uber will occupy this space by the end of the year. The landlord, Brookfield Property Partners, was represented by Chris Roeder, Jak Churton and Tom Doupe of Jones Lang LaSalle.

October 10, 2014

Multifamily South Carolina Southeast

Passco Cos. Acquires Greenville Apartment Community for $30.9M

by John Nelson October 10, 2014

GREENVILLE, S.C. — Passco Cos. LLC has purchased Vinings at Laurel Creek, a 244-unit, Class A apartment community, for $30.9 million. The multifamily community is located at 3434 Laurens Road near downtown Greenville. Delivered in 2013, the apartment property features a beach-entry pool, indoor/outdoor clubhouse, cyber café, dog park and fitness center. Passco plans to hold the asset for seven to 10 years or until the market dictates, according to Gary Goodman, senior vice president of acquisitions for Passco Cos.

October 10, 2014

Healthcare New Jersey Northeast

Rendina Acquires New Jersey Medical Office Portfolio for $14.75M

by Amy Works October 10, 2014

BELLEVILLE, N.J. — Rendina has acquired a three-building medical office portfolio, located in Belleville, for $14.75 million. The 128,006-square-foot portfolio is situated on the campus of Clara Maass Medical Center (CMMC), a Barnabas Health facility. The purchase allows Rendina to bring management and leasing expertise to the properties, and also provides Barnadas Health an additional source of capital for the development of an 87,000-square-foot expansion at CMMC. Rendina will serve as the developer for the project, which includes a state-of-the-art intensive care unit, new hospital lobby and custom-designed physician office space. Site work, including a parking garage expansion, began in late September. In addition to handling management and leasing responsibilities, Rendina will invest more than $2 million in capital improvements and upgrades for the newly acquired properties.

October 10, 2014

Northeast Pennsylvania Retail

JV Buys Hershey Square Shopping Center for $28.5M

by Amy Works October 9, 2014

HUMMELSTOWN, PA. — A joint venture partnership between Heidenberg Properties Group, Norse Realty and Strategic Real Estate Partners has acquired Hershey Square Shopping Center in Hummelstown. Hershey Trust Company sold the property for $28.5 million. Developed in 1994, the 218,290-square-foot, supermarket-anchored center includes 30,600 square feet of in-line retail space and six outlots, including Applebee’s, Panera Bread and Verizon. Heidenberg Properties and its partners own and manage approximately 3.5 million square feet of retail, including several locations throughout Pennsylvania.

October 9, 2014

Arizona Office Western

SheKnows Leases Space at Element at Kierland in Scottsdale

by Nellie Day October 9, 2014

SCOTTSDALE, ARIZ. – SheKnows has leased 20,000 square feet at Element at Kierland, a 55,268-square-foot office building in Scottsdale. The space is located at 14614 N. Kierland Blvd. The women’s lifestyle media platform will use this space as its corporate headquarters. SheKnows was represented by Clint Hardison of Keyser. The landlord, Montana Avenue Capital Partners, was represented by Luke Walker, Dave Carder and Eric Schultz of CBRE’s Phoenix office.

October 9, 2014

Georgia Office Southeast

Columbia Property Trust Sells AT&T Lenox Park Campus in Atlanta for $290M

by John Nelson October 8, 2014

ATLANTA — Columbia Property Trust, one of the largest office REITs in the nation, has completed the sale of a five-building, 1 million-square-foot office campus in Atlanta for $290 million. The campus, which is fully leased to AT&T Services Inc., is located at 1025, 1055, 1057 and 1277 Lenox Park Blvd. and 2180 Lake Blvd. in the Lenox Park office complex in the Buckhead office submarket. The buyer was undisclosed.

October 8, 2014

Massachusetts Northeast Office

Rubenstein Properties Fund II Buys 84-Acre Business Park for $13M

by Amy Works October 8, 2014

TEWKSBURY, MASS. — Rubenstein Properties Fund II has acquired 495 Business Center, a commercial office park located in Tewksbury, for $13 million. The property consists of four conjoined buildings totaling approximately 722,422 rentable square feet at 200, 300, 400 and 500 Network Center Dr. The property, which is the birthplace of Wang Computers, is currently occupied by a mix of tenants, including office, R&D, laboratory, manufacturing and flex. Rubenstein Partners and its partner, Genesis Management Group, plan to renovate and reposition the property.

October 8, 2014

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