September 2007
The Archives
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September 30, 2007iRobot Leases 157,000 SF
Boston
iRobot signed a 12-year lease for 157,000 square feet in the Bedford business park located at 8, 10, and 12 Crosby Drive in Bedford, Massachusetts. The location will become the firm’s new corporate headquarters.The Bedford Business Park totals 157,000 square feet of rentable building area, features six exterior loading docks, and sits on a 26-acre site. The three facilities were delivered in the ’60s and ’70s, and are slightly more than 50,000 square feet each.
iRobot was founded in 1990 by roboticists from the Massachusetts Institute of Technology, and has sold more than 2.5 million home robots worldwide including the popular Roomba® vacuum cleaning robot. The company has also sold more than 1,000 PackBot® Tactical Mobile Robots that have been deployed worldwide, mostly in Iraq and Afghanistan.
Jonathan Varholak and John Wilson of Richard Barry Joyce & Partners represented iRobot Corporation. Stacey Baker, David Provost, Richard Monopoli, and Jim Rosenfeld of Boston Properties represented the landlord.
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September 28, 2007Office Tower Sold for $50M
Chicago
American Realty Advisors acquired the office tower at 150 N. Wacker Drive in Chicago, IL for an undisclosed amount. The all-cash deal has an estimated worth of more than $50 million.The 226,000-square-foot office tower features a 150-car garage, which was a major selling point. The building was approximately 91% leased at the time of sale .
The building was owned by a joint venture of Transwestern Investment Company and Dr. Peters GmbH & Co., a German investment firm.
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September 27, 2007Wesley Paces Apts. Sold for $27M
Atlanta
Triple Net Properties LLC purchased the Wesley Paces apartments located at 4300 Jimmy Carter Blvd. in Norcross, Georgia for $26.79 million, or approximately $103,038 per unit.Wesley Paces was delivered in 2001 and includes 260 units in 10 buildings spread out on a 22-acre lot. The complex features a clubhouse, lagoon-style pool, fitness center, car wash, a conference room, and a 1.8/1000 parking ratio. The property was 92% leased on average at the time of sale.
Kevin Geiger of CB Richard Ellis handled the sale to Triple Net Properties LLC. The seller was Euramex Management Group.
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September 26, 2007St. Regis Hotel Sold for $170M
Washington DC
Claret Capital Ltd. purchased a 90% stake in the five-star St. Regis Hotel in Washington, DC for $170 million, or approximately $1 million per room. The property was purchased in 2005 by a joint venture of Brickman Associates and New Valley LLC for $45 million.The historic St. Regis Hotel is located at 923 16th St., NW just one block from the White House. The property is currently undergoing an $80 million renovation, and is scheduled to re-open in the fourth quarter. Once complete the hotel will feature 9,675 square feet of conference areas, a luxury restaurant, spa, and 175 rooms including 33 suites.
Angela Lim of Jones Lang LaSalle Americas, Inc. represented Claret Capital.
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September 25, 2007Houston Industrial Sold for $5.46M
Houston
Massoud Real Estate purchased the industrial building at 8401 Westland West Blvd. in Houston, Texas for $5.46 million, or approximately $46 per square foot.Delivered in 1986, the class B industrial building totals 118,000 square feet. The building is part of the Westland Business Park, and sits on a 7-acre lot. The buyer will use the property as a distribution center for its specialty foods company, Euro-Mid, Inc.
Mark Nicholas of The Staubach Company represented Massoud Real Estate Investments LLC. Clay Peeples and J. Michael Boyd of Boyd Commercial represented the seller, The Achuck Family Partnership.
recent articles
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