NORDIC PROPERTIES AND BERWIND PROPERTY GROUP have sold the 285.000 sq. ft. Lexington Corporate Center in Lexington, Mass., to Essex River Ventures for $35.3 million. Tenants include IBM/Rational, SGS Thomson, Marketsoft and AHA Associates.
DUKE REALTY CO. has sold the 1 million sq. ft. Gwinnett Park in Atlanta to The General Investment andCos. Trammell Crow Co. represented the seller. The industrial park includes 19 light distribution and office/flex buildings, and was 87% occupied at the time of the sale. Tenants include Liberty Mutual Insurance Co., Krispy Kreme and Komatsu Zenoah.
CYBURT LUDEMAN & HALL (CLH) AND WILSHIRE CAPITAL PARTNERS LLC have acquired the 27.3-acer Motorola Diablo Campus in Tempe, Ariz. The transaction is valued at $32.05 million. The campus, home to Motorola's embedded communications computing group, includes approximately 329,000 sq. ft. of office and light manufacturing space, as well as a four-acre development site. As part of the purchase agreement, CLH and Motorola intend to invest $10 million in building upgrades to the 245,000 sq. ft. that Motorola willfor 10 years.