Office

US GOVERNMENT BUILDING FUND PURCHASES 430,000-SQUARE-FOOT FBI FIELD OFFICE

by admin January 14, 2009

CHICAGO — The United States Government Building Fund has purchased the Federal Bureau of Investigation office Field Office Building located in Chicago. The approximately 430,000-square-foot FBI Field Office was developed in 2004 as a build-to-suit project constructed for the FBI. USAA Real Estate Co. sold the Class A building for an undisclosed amount. Situated on a 10-acre site immediately southwest of Chicago’s central business district, the 10-story building includes a one-story annex facility, underground parking and a three-story parking structure. In late December, the building was awarded the highest level of Leadership in Energy and Environmental Design for Existing Buildings from the U.S. Green Building Council (USGBC). The facility was the first in the world to receive a platinum level of certification under the USGBC’s LEED EBOM. Additionally, it is the first LEED EBOM platinum-rated building in Chicago, and one of only 16 platinum-rated projects in the world.

January 14, 2009

HEALTHCARE COMPANY LEASES SPACE AT ATRIUM CORPORATE PARK

by admin January 14, 2009

SOMERSET, N.J. — inVentiv Health has signed a lease for 154,035 square feet of Class A space at Atrium Corporate Park, a four-building, 900,000-square-foot office park located in Somerset. The company will use the space, located at 500 Atrium Dr., to consolidate four of its New Jersey offices and to accommodate the further growth of the company. inVentiv Health plans to take occupancy in July. Walter Shoenberg and Christopher Kinum of Cushman & Wakefield represented inVentiv in lease negotiations. The landlord, LaSalle Investment Management, was represented by Susan Mason, Thomas Reilly and Brian Cass of Jones Lang LaSalle’s (JLL) Parsippany, N.J., office. JLL also serves as exclusive leasing agent and property manager for Atrium Corporate Park, which is owned by JLL’s LaSalle Income & Growth Fund IV.

January 14, 2009

Office Texas

QUORUM OFFICE PARK PORTFOLIO REFINANCED FOR $21.5 MILLION

by admin January 14, 2009

DALLAS — The Dallas office of Holliday Fenoglio Fowler (HFF) has arranged a $21.5 million loan for the refinancing of a three-property office portfolio located within Quorum Office Park in Dallas. The three properties total 465,865 square feet, and they include 5000 Quorum, Quorum Place and Quorum North. The office park is situated adjacent to the North Dallas Tollway and Belt Line Road in the city’s Far North submarket. HFF’s Kevin MacKenzie originated the loan on behalf of Birmingham, Ala.-based Harbert Management Co. Terms of the loan include a fixed interest rate and a 3-year term. The lender was ViewPoint Bank.

January 14, 2009

Office Western

18,371-SQUARE-FOOT OFFICE BUILDING FETCHES $4 MILLION

by admin January 14, 2009

CALABASAS, CALIF. — Malcolm Abrams LLC has purchased 26135 Mureau Road, an 18,371-square-foot office building in Calabasas. Located within Calabasas Commerce Center, the property sold for approximately $4 million. Told Partners represented the buyer; Robert Erickson and Marc Spellman of Lee & Associates represented the seller, Arden Realty Inc., in the transaction.

January 14, 2009

Office Southeast

OFFICE SPACE LEASED TO MONTGOMERY COUNTY BOARD OF ELECTIONS

by admin January 13, 2009

GAITHERSBURG, MD. — The Montgomery County Board of Elections has signed a lease with Seneca Center II LLC for 54,109 square feet of office space in a 90,000-square-foot warehouse. The board signed a 10-year lease in the building, which is currently under construction at 18753 N. Frederick Ave. in Gaithersburg. The new tenant plans to move into the space in April. Bill Quay, Tom Truxillo and Ro Waldron of McShea & Co.’s Montgomery County, Md., office represented the landlord.

January 13, 2009

Office Southeast

MARYLAND OFFICE BUILDING CHANGES HANDS

by admin January 13, 2009

COLUMBIA, MD. — TSC/Old Annapolis Road has purchased a 16,500-square-foot retail and office building from TIVIA for $2.97 million. The property, which is located at the intersection of Bendix Road and Md. Route 108, was built in 1972. The building is anchored by Bank of America and features second-floor office space, which is fully leased. NAI KLNB’s Gil Neuman and Chris Kubler represented the seller, and the firm’s Robert Smith represented the buyer.

January 13, 2009

Midwest Office

NORTHMARQ BROKERS SALE OF CLASS A OFFICE BUILDING

by admin January 13, 2009

MINNETONKA, MINN. — Minneapolis-based NorthMarq Investment Services has brokered the sale of a Class A office building located at 12301 Whitewater Dr. in Minnetonka. The 69,799-square-foot building, which is situated on a 6.5-acre site near Interstate 494 and Highway 62, is fully leased and occupied by North American Membership Group Inc. Upper Midwest Management Corp. purchased the office building from ADAJE Development for $9.6 million. The facility, which was developed by Trammel Crow, features a two-level atrium, an efficient floor plate and underground parking. Scott Pollock of NorthMarq Investment Services represented ADAJE Development in the transaction.

January 13, 2009

Northeast Office

PLANS RELEASED FOR 2.0 UNIVERSITY PLACE

by admin January 13, 2009

PHILADELPHIA — University Place Associates has unveiled plans for 2.0 University Place, a 94,350-square-foot office building located at 41st Street along the West Market Street Corridor in West Philadelphia. The Class A building will be located at the foot of University City Science Center, which is currently undergoing a $600 million expansion. The 2.0 University Place project has been pre-certified LEED-Platinum. Sustainable features will include pollution prevention and recycling during the construction process; nearby public transit; on-site bicycle racks with changing rooms; car sharing facilities; a recycling system that uses rainwater to operate restroom fixtures; a green roof with a 20,000-square-foot rooftop park; high-efficiency HVAC systems; and abundant natural daylight. The construction timetable and construction team were not released.

January 13, 2009

Northeast Office

BURNS & SCALO TO BUILD OFFICE/FLEX BUILDING

by admin January 13, 2009

FINDLAY TOWNSHIP, PA. — Pittsburgh-based Burns & Scalo Real Estate Services has announced preliminary plans for the construction of an office/flex building located at the intersection of Industry Drive and McClaren Road in Findlay Township, near Pittsburgh International Airport. The property is owned by Allegheny County and leased to the Allegheny County Airport Authority, which has leased the 8-acre property to Burns & Scalo. Tentative plans include the construction of an approximately 50,000-square-foot, LEED-certified building, which can either be one or three stories depending on the needs of the user. Early interest in the site has been for medical office, professional office, and research and development uses. Burns & Scalo will begin marketing the site in the first quarter, with construction commencing shortly thereafter.

January 13, 2009

Office Western

HP BREAKS GROUND ON 218,000-SQUARE-FOOT FACILITY

by admin January 12, 2009

RIO RANCHO, N.M. — Hewlett-Packard Co. (HP) has broken ground for the construction of its new technology and customer service facility in Rio Rancho. The three-story building will offer 218,000 square feet of space and employ at least 1,350 full-time employees by the end of 2012. The city of Rio Rancho has leased 17 acres to HP for 50 years for the property. The $63 million project is being development by Titan Development. Reid & Associates Design Builders are serving as general contractor for the project. The Rio Rancho City Council approved a $5.2 million bond to facilitate public infrastructure improvements at the site, such as roads, water and wastewater. The land and building revert to city ownership at the end of the land lease, which includes a sale-leaseback option.

January 12, 2009

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