JACKSONVILLE, FLA. — Parkway Properties has completed its purchase of eight office properties totaling 1 million square feet in the Deerwood submarket of Jacksonville for $130 million. The properties were developed in phases from 1996 through 2005 and are a combined 93.7 percent occupied. With this acquisition, Parkway now owns approximately 1.4 million square feet and also manages or leases another 2 million square feet, which total 3.4 million square feet in Jacksonville.
COLUMBUS, OHIO — Nationwide Realty Investors has opened a $37 million office building in Columbus. The five-story, 200,000-square-foot property is located on the corner of Nationwide Boulevard and North Front Street in the Arena District, an entertainment-focus district in downtown Columbus. The building is adjacent to the 1.7 million-square-foot Columbus Convention Center and the 532-room Hilton hotel. Associates from Nationwide Financial’s retirement plans business occupy the new building.
NEW YORK CITY — The Feil Organzation has invested more than $5 million in renovations to a major lobby and entryway renovation at 7 Penn Plaza and lobby renovation at 488 Madison Ave. in New York City. Built in 1921, 7 Penn Plaza is an 18-story office building, which now features a grand entryway with a 16-foot entrance, modern reception desk, granite finishes, modernized elevators and updated corridors and restrooms. Built in 1949, 488 Madison Avenue is a 23-story office building. The renovation of the 447,000-square-foot building includes a new lobby with gray limestone, elevators framed with satin-finished stainless steel, and eco-friendly LED lighting. The Feil Organization owns and manages the two properties. Goldstein, Hill & West Architects LLP was the architect for this project.
BRIDGEWATER, N.J. —Ashland Inc. has signed a lease for 198,000 square feet of laboratory and office space at a facility in Bridgewater, about 37 miles west of New York City. Ashland will relocate its specialty ingredients unit from Wayne to the new building, located at 10141 Route 202-206 in the New Jersey Center of Excellence complex. Headquartered in Covington, Ky., Ashland provides specialty chemicals, technologies and insights to help its customers create new and improved products and sustainable solutions. John Cunningham, Bryn Cinque and James Bailey of Colliers International represented Ashland in the transaction. Dan Loughlin and Bob Ryan of Jones Lang LaSalle and Jeff Zell and Marc Sobel of JM Zell Partners represented the landlord, Sanofi.
NORWALK, CONN. — CBRE Group Inc. has arranged a 10-year, 9,000-square-foot lease for Family & Children’s Agency in Norwalk. The nonprofit human service organization is relocating from a nearby 6,000-square-foot property. David Anspach owns the freestanding property, located at 140 Water St. David Block and Barbara Segalini-Stilley of CBRE negotiated the long-term lease on behalf of Family & Children’s Agency, while Wilton-based Silver Pine Real Estate represented Anspach. Family & Children’s Agency, a human services firm, provides strength-based, solution-focused services that respond to the individual needs of children and families, youth, adults and seniors.
SAN FRANCISCO – A 21-story tower office tower located at 100 Spear Street in San Francisco has sold to Prudential Real Estate Investors for $100 million. The 203,071-square-foot building resides near Market Street in the city’s South Financial District. It was 91.5 percent leased at the time of closing. The tower has undergone a $4.5-million renovation and modernization over the past four years. The seller, Clarion Partners, was represented by HFF’sGerry Rohm, Michael Leggett and Dave Karol.
GREELEY, COLO. — Griffin-American Healthcare REIT II has acquired five medical office buildings throughout the U.S. for $47 million. The buildings are located in Greeley, Colo.; Ruston, La.; and Abilene, Tex. The REIT is co-sponsored by American Healthcare Investors and Griffin Capital Corporation. The three-building Greeley Northern Colorado Medical Office Building Portfolio was included in this transaction. The 99,000-square-foot medical office building portfolio is currently 93 percent leased to three tenants, including the University of Colorado Health. The seller of the Greeley portfolio, Concordia Company of Greeley, LLP, was represented by Craig Hau and Kyle Lundy of Sperry Van Ness.
CHICAGO — Harbor Group International LLC has purchased The Burnham Center, a 22-story historic building, for $94.6 million. The Burnham Center is located at 111 W. Washington in the heart of Chicago’s central business direct. Harbor Group purchased the property in March 2007 for $79.5 million. The sale comes less than a year after Harbor Group signed GrubHub, a food delivery company, to a 60,000-square-foot lease at the property. GrubHub relocated from 221 N. Elston Ave.
BLOOMINGDALE, ILL. — Meridian Design Build has completed the renovation of the 38,710 square feet of office space for NOW Foods in Bloomingdale, located about 25 west of Chicago. The company recently moved 140 employees to the newly acquired office building at 244 Knollwood Drive to accommodate laboratory and manufacturing expansions within their existing production facility. The fast-track renovation included demolition and office reconfiguration work on the two upper floors of the four-story building. Bob Kolcz, senior project manager, and Greg Suthers, superintendent, of Meridian coordinated construction efforts. Heitman Architects Inc. provided architectural services.
GREELEY, COLO. — Griffin-American Healthcare REIT II has acquired five medical office buildings throughout the U.S. for $47 million. The buildings are located in Greeley, Colo.; Ruston, La.; and Abilene, Tex. The REIT is co-sponsored by American Healthcare Investors and Griffin Capital Corporation. The three-building Greeley Northern Colorado Medical Office Building Portfolio was included in this transaction. The 99,000-square-foot medical office building portfolio is currently 93 percent leased to three tenants, including the University of Colorado Health. The seller of the Greeley portfolio, Concordia Company of Greeley, LLP, was represented by Craig Hau and Kyle Lundy of Sperry Van Ness.