REBusinessOnline

NKF Arranges $209.1M Sale of McPherson Building in Downtown D.C.

WASHINGTON, D.C. — Newmark Knight Frank (NKF) has arranged the $209.1 million sale of the McPherson Building, a 12-story, 255,968-square-foot office building in downtown Washington, D.C. The property is located at 901 15th St. NW, one block from The White House and The Treasury Building. McPherson Building was 97 percent leased at the time of sale to tenants including Booz Allen Hamilton, New York Life Insurance Co. and law firm Davis Polk & Wardwell LLP. Forrester Construction recently …

Frederick Health Acquires Former State Farm Campus in Suburban Maryland for $18.6M

FREDERICK, MD. — Frederick Memorial Healthcare Systems (Frederick Health) has acquired the former State Farm office campus in Frederick for $18.6 million in an effort to expand its footprint in the area. Located at 1 State Farm Drive four miles north of downtown Frederick, the campus comprises a 387,000-square-foot office building, 1,600 parking spaces and 20,000 square feet of warehouse space. The newly named Frederick Health Village will allow Frederick Health to move its call center, home …

Longfellow Purchases Swabia Court Office Building in Research Triangle Park for $12.2M

DURHAM, N.C. — Longfellow Real Estate Partners has purchased Swabia Court, a 112,340-square-foot office building within Research Triangle Park in Durham, for $12.2 million. Longfellow plans to renovate the property in first-quarter 2020 to add lab space and implement its amenities and hospitality program, Elevate, which includes amenities such as fitness centers, tailored lunch and learns, pop-up shops, gathering spaces and services such as salon, dental and dry cleaning. Swabia Court was …

Reserve Capital, 2GR Equity Acquire 180,504 SF Office Building in Metro Dallas

FARMERS BRANCH, TEXAS — A partnership between locally based investment firms Reserve Capital Partners and 2GR Equity has acquired Two Colinas Crossing, a 180,504-square-foot office building located in the northern Dallas metro of Farmers Branch. The Class A property was built in 2000 and houses tenants such as IBM, S&P Global, BBVA and Home Point Financial. Clint Coe, Jason Piering and Jack Crews of JLL brokered the deal. The seller was not

JLL Arranges $193M Sale of, $160M Financing for Pasadena Office Portfolio

PASADENA, CALIF. — JLL has brokered the $193 million sale and secured $160 million in financing for The Pasadena Collection, an institutional-quality office portfolio in Pasadena. Swift Real Estate Partners acquired the asset from a global investment manager. Totaling 516,890 square feet, the portfolio includes a 146,313-square-foot building at 790 E. Colorado Blvd., a 211,792-square-foot building at 155 N. Lake Ave. and a 158,785-square-foot building at 35 N. Lake Ave. At the time of …

PREH Paseo Verde Acquires 60,499 SF Office Building in Nevada for $19.4M

HENDERSON, NEV. — PREH Paseo Verde LLC has purchased 2200 Paseo Verde, a Class A office building located at 2200 Paseo Verde Parkway in Henderson. Pacific Oak SOR II sold the asset for $19.4 million. Situated within The District at Green Valley Ranch, the 60,499-square-foot property features 24-hour access, a courtyard, balcony and on-site property management. At the time of sale, the building was 94 percent leased to a variety of tenants, including Berkadia Real Estate Advisors, Ticor …

Mag Mile Capital Opens New Headquarters Office in Chicago’s West Loop

CHICAGO — Mag Mile Capital has opened its headquarters office in a new custom-built location in Chicago’s West Loop. The new office is located at 1141 W. Randolph St. within the Fulton Market district. It features a loft-style design with private rooftop access. Mag Mile celebrated the opening with an evening reception for its team, clients, partners and vendors in October. Mag Mile Capital, a full-service commercial real estate mortgage and investment banking firm, now has seven offices …

Condyne Sells 125,609 SF Research Facility in Andover, Massachusetts

ANDOVER, MASS. — Condyne, a Massachusetts-based developer, has sold 160 Dascomb Road, a 125,609-square-foot research facility in Andover, located approximately 20 miles north of Boston, for $26.2 million. The facility was 100 percent leased to Lockheed Martin and data and security company Accu-Tech at the time of sale. Boston Private Bank provided $17.2 million in acquisition financing. Coleman Benedict, Matthew Sherry, Kerry Hawkins, Ben Sayles and Michael Restivo of JLL represented Condyne …

Colliers Brokers Sale of 96,000 SF Office Complex in Mount Laurel, New Jersey

MOUNT LAUREL, N.J. — Colliers International has brokered the $10.6 million sale of the Fellowship Business Center, a 96,000-square-foot office complex in Mount Laurel, an eastern suburb of Philadelphia. The five-building complex is situated within the East Gate Business Park and was 96 percent occupied at the time of sale. Ian Richman and Marc Isdaner of Colliers represented the seller, The Bloom Organization. The buyer was a private

Westhab Signs 8,233 SF Office Lease in the Bronx

NEW YORK CITY — Non-profit community development organization Westhab has a signed an 8,233-square-foot office lease at Union Crossing, a 275,000-square-foot office building in the Bronx. The eight-story building was formerly a warehouse, and following renovations earlier this year, now offers office, light industrial and ground-floor retail space. With a lease term of 10 years, Westhab is the building’s first tenant since the renovation and its space will be built out. Madison Realty …

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