Northeast

NEW YORK CITY — The New York office of M Moser Associates has completed the office build-out for the new headquarters of Principal Global Investors, a subsidiary of The Principal Financial Group. The space occupies the entire 25th floor of 888 Seventh Avenue in Manhattan, New York City, totaling 19,800 square feet. The office was designed to achieve LEED certification; sustainable features include low-flow fixtures, a state-of-the-art HVAC system, and sensors that monitor the amount of natural light available and adjust the internal lighting to compensate. Principal’s headquarters is the first LEED-certified office space in the building.

NEW YORK CITY — A joint venture between Manhattan, New York City-based Hidrock Realty and Meritage Properties has acquired the Mary McFadden Building, a 17-story, 162,000-square-foot office tower located at 240 W. 35th St. in New York City. The property is fully occupied by a roster of approximately 40 tenants, including Doubledown Media, First Funds and A Better Chance. The purchase marks Hidrock’s fourth acquisition in the Herald Square/Penn Station submarket. Acquisition financing was provided by HSH Nordbank, with Holliday Fenoglio Fowler serving as the financing broker. Hidrock will provide property management and leasing services for the tower. The seller and sale price were not disclosed.

PLYMOUTH MEETING AND WAYNE, PA. — Haverford, Pa.-based GPX Realty Partners has completed a $10 million capital improvements program for The Woods Office Center. The complex totals 77 acres, and is located on two land parcels at 521-531 Plymouth Rd. in Plymouth Meeting and 983-999 Old Eagle School Rd. in Wayne. It comprises 17 buildings and 570,000 square feet of office space. Upgrades to the office center include new landscaping and common area finishes, parking lot upgrades, sidewalk and curbing enhancements, exterior lighting upgrades, new park identification signage, and high-tech tenant services and amenities. GPX acquired the property last year for $60 million.