Other News in Brief: Phoenix Office Building Sells for $27.5M; Sperry Van Ness Taps Wagner as Senior Advisor; Aragon To Build 50,000SF Training Facilities; Healthcare Realty to Purchase $65M Indianapolis Hospital, Medical Office; Cedar Shopping Centers to Acquire Treslertown Plaza for $35M; Boston Office Building Set for Condo Conversion; NAI Global Opens Office in Turkey
Wednesday, June 14 2006
Published on AllBusiness.com
Phoenix Office Building Sells for $27.5M
Younan Properties Inc. has sold Four Gateway (pictured), a 140,000-square-foot Class-A office building in Phoenix, Ariz. for $27.5 million, the company said today. CB Richard Ellis Inc. represented both the seller and the buyer, Brookwood Financial Partners in the transaction.
Sperry Van Ness Taps Wagner as Senior Advisor
Sperry Van Ness chose Larry Wagner as senior advisor to work in the firm's San Diego office. Wagner brings nine years of commercial real estate experience to the position. Prior to joining Sperry Van Ness, he worked as the principle broker & owner of Equity One Apartments L.L.C. in Portland, Oregon.
Aragon to Build 50,000SF Training Facilities
One New York Plaza, located at the corner of Whitehall and Water Street in Manhattan, will soon count Learning Tree International as one of its tenants. Aragon Construction, a leading interior construction firm, began work on 50,000 square feet of training facilities at Trizec Properties' skyscraper in early May with anticipated completion scheduled for the first week of July. Learning Tree will occupy the entire 31st floor of the building.
Healthcare Realty to Purchase $65M Indianapolis Hospital, Medical Office
Healthcare Realty Trust Inc. has entered into an agreement to acquire a freestanding orthopedic hospital and an adjacent medical office facility in Indianapolis for approximately $65 million. The hospital offers 42 licensed beds, 16 anesthesia care unit rooms and 10 operating suits, while the medical office facility includes four operating rooms.
Cedar Shopping Centers to Acquire Treslertown Plaza for $35M
Cedar Shopping Centers Inc. is set to acquire Treslertown Plaza, along with certain adjacent land parcels, for approximately $34.5 million. The company said today that it has completed due diligence for the purchase of the 241,625-square-foot community shopping center, which is being purchased directly from sellers K & S Realty Ventures and Polimeni International L.L.C. The transaction is expected to close in the third quarter of 2006. Located on approximately 31 acres of land, the Treslertown, Penn.-based property is 84 percent leased.
Boston Office Building Set for Condo Conversion
Bayview Devonshire L.L.C. said today that it will renovate and convert 185 Devonshire St., a 78,000-square-foot office building in Boston, into office condominiums, which will be the first office condo project in Downtown Boston since the 1980s. Built in 1914, the property is easily accessible to all MBTA subway lines as well as Boston's landmarks such as Faneuil Hall Marketplace, Downtown Crossing and Boston Common.
NAI Global Opens Office in Turkey
NAI Global has expanded its presence in Europe with its first office in Turkey. Istanbul-based NAI Propin was established in 2005 and its services include owner/tenant representation, appraisals, architectural, consulting, construction management, corporate relocation, feasibility studies, market research, project/property management, property valuation and space planning/design. Some of the firm's clients include Freudenberg Household Products, John Hopkins Hospitals and Ernst & Young.
Younan Properties Inc. has sold Four Gateway (pictured), a 140,000-square-foot Class-A office building in Phoenix, Ariz. for $27.5 million, the company said today. CB Richard Ellis Inc. represented both the seller and the buyer, Brookwood Financial Partners in the transaction.
Sperry Van Ness Taps Wagner as Senior Advisor
Sperry Van Ness chose Larry Wagner as senior advisor to work in the firm's San Diego office. Wagner brings nine years of commercial real estate experience to the position. Prior to joining Sperry Van Ness, he worked as the principle broker & owner of Equity One Apartments L.L.C. in Portland, Oregon.
Aragon to Build 50,000SF Training Facilities
One New York Plaza, located at the corner of Whitehall and Water Street in Manhattan, will soon count Learning Tree International as one of its tenants. Aragon Construction, a leading interior construction firm, began work on 50,000 square feet of training facilities at Trizec Properties' skyscraper in early May with anticipated completion scheduled for the first week of July. Learning Tree will occupy the entire 31st floor of the building.
Healthcare Realty to Purchase $65M Indianapolis Hospital, Medical Office
Healthcare Realty Trust Inc. has entered into an agreement to acquire a freestanding orthopedic hospital and an adjacent medical office facility in Indianapolis for approximately $65 million. The hospital offers 42 licensed beds, 16 anesthesia care unit rooms and 10 operating suits, while the medical office facility includes four operating rooms.
Cedar Shopping Centers to Acquire Treslertown Plaza for $35M
Cedar Shopping Centers Inc. is set to acquire Treslertown Plaza, along with certain adjacent land parcels, for approximately $34.5 million. The company said today that it has completed due diligence for the purchase of the 241,625-square-foot community shopping center, which is being purchased directly from sellers K & S Realty Ventures and Polimeni International L.L.C. The transaction is expected to close in the third quarter of 2006. Located on approximately 31 acres of land, the Treslertown, Penn.-based property is 84 percent leased.
Boston Office Building Set for Condo Conversion
Bayview Devonshire L.L.C. said today that it will renovate and convert 185 Devonshire St., a 78,000-square-foot office building in Boston, into office condominiums, which will be the first office condo project in Downtown Boston since the 1980s. Built in 1914, the property is easily accessible to all MBTA subway lines as well as Boston's landmarks such as Faneuil Hall Marketplace, Downtown Crossing and Boston Common.
NAI Global Opens Office in Turkey
NAI Global has expanded its presence in Europe with its first office in Turkey. Istanbul-based NAI Propin was established in 2005 and its services include owner/tenant representation, appraisals, architectural, consulting, construction management, corporate relocation, feasibility studies, market research, project/property management, property valuation and space planning/design. Some of the firm's clients include Freudenberg Household Products, John Hopkins Hospitals and Ernst & Young.