LEESBURG, VA. — Washington Real Estate Investment Trust has entered into an agreement to acquire Lansdowne Medical Office Building, a five-story, 85,300-square-foot development in Leesburg, located across the street from Inova Loudoun Hospital at the intersection of Riverside Parkway and Lansdowne Boulevard. Washington will purchase the property upon completion of the base building, which is expected to deliver in the first quarter of next year.
CARLSBAD, CALIF. — H.G. Development Company is developing Carlsbad Medical Center, a 40,655-square-foot medical office development located at 2176 Salk Ave. in Carlsbad. Being built exclusively for Scripps Health, the new center will offer medical office and exam rooms and radiology office space. Completion is slated for October. Rod Wright provided architectural services for the project; Perkins & Will are providing interior design services; Ledcor Construction served as both the shell and tenant-improvement contractor.
CENTENNIAL, COLO. — Denver-based Aardex LLC is planning to develop Signature Tower, a 410,000-square-foot office tower in Centennial. Located at the corner of East Peakview Avenue and South Syracuse Way, the 15-story tower is designed to be LEED-Platinum certified. The building will feature six floors of structured parking, under floor air for individual temperature and ventilation control, and large clerestory windows for natural daylight.
WASHINGTON, D.C. — Ireland-based Vico Capital has purchased 2099 Pennsylvania Avenue, a 199,000-square-foot Class A office building in Washington, D.C., from Germany-based Wealth Management Capital Holding GmbH, for $172.5 million. The property is located in Washington, D.C.’s central business district and is in close proximity to the White House. The office building was 100 percent leased at the time of sale to Holland and Knight, a global law firm; Perseus, a merchant bank and private equity fund management company; and Danaher Corp., a Fortune 500 company that invests in and acquires technology and manufacturing companies. John Kevill and Collins Ege of Jones Lang LaSalle’s Washington, D.C., office represented the seller in the transaction, and the buyer was represented in-house.
INDIANAPOLIS — Indianapolis-based Lauth has announced plans for two new buildings at INTECH Park, the company’s 210-acre office park located in Indianapolis. Construction will begin in the fall for INTECH Four, a 150,000-square-foot, Class A office building. When the project is complete in third-quarter 2009, it will be the ninth building in the park. Additionally, Chattanooga, Tenn.-based Vision Hospitality will begin construction this summer for a 122-room Hilton Garden Inn inside INTECH Park. The hotel will feature a restaurant and a 4,000-square-foot conference center.
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LANSING, MICH. — East Lansing-based CB Richard Ellis/Martin (CBRE) has completed the sale of the 83,430-square-foot former ASC industrial facility located at 2101 West Willow in Lansing. Blaire Moore of CBRE represented the seller, ASC, with Joe Gentillozi, also of CBRE, representing the buyer, Smart Office Systems. The acquisition price was undisclosed.
BURLINGTON TOWNSHIP, N.J. — Ivystone Properties is currently constructing the Burlington Professional Campus in Burlington Township. The campus will feature 58,000 square feet of space set within seven single-story, 6,800-square-foot buildings and two 5,200-square-foot buildings. The facility is located on Burlington-Mt. Holly Road with access to I-295, U.S. Route 130, the Pennsylvania Turnpike and the New Jersey Turnpike. Colliers Lanard & Axilbund have been appointed the exclusive leasing agents for the complex. Cooper Health System, The May Institute, Burlington Insurance Agency and Health Management Systems have all taken space in the campus.
PALM SPRINGS, CALIF. — Boureston Development Co. is developing Sunrise Medical Offices, a medical office building in Palm Springs. Located at the corner of Sunrise Way and Tahquitz Canyon Way, the property will feature 20,000 square feet of medical office space and a Rite Aid Pharmacy, which will be located in a separate, adjacent building. Construction is expected to begin this summer, with completion slated for early 2009. Maggie Montez, Brian Ward and Troy Kudlac of CB Richard Ellis’ Indian Wells, Calif., office are handling the leasing of the project.
HACKETTSTOWN, N.J. — Final site plans have been approved for Willow Grove Medical Park, a 25,800-square-foot medical office facility in Hackettstown. The two-story facility, which is being developed by D6 Developments, is situated on 2.74 acres and will feature ten modern medical facilities the range from 1,500 to 2,500 square feet. Groundbreaking is slated for spring 2008. Jarmel Kizel Architects & Engineers is the architect of record for the project and Ron Numon of Weichert Realtors is the exclusive marketing agent for the development.