LONGWOOD, FLA. — Jeffrey Bloom and Suzanne Huskey Hedrick of Coldwell Banker Commercial NRT’s Maitland, Fla., office have brokered the sale of the Estate of E. Everette Huskey’s 9,500-square-foot office building to 100 Plus LLC for $1.6 million. The property is located at 1000 Wekiva Springs Rd. in Longwood.
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MILWAUKEE — Milwaukee-based RFP Commercial has brokered the sale of 80,525 square feet of office space located at 433 E. Michigan St. in Milwaukee, as well as an adjacent parking lot located at 517 N. Jefferson St. Milwaukee Acquisition Partners LLC has acquired the approximately $3.14 million property from 433 E. Michigan LLC. Bob Flood and Jim Cavanaugh of RFP Commercial represented the seller in the transaction.
MORRIS COUNTY, N.J. — Bedminster, N.J.-based Advance Realty Group has completed construction of the first building at Picatinny Applied Research Campus (PARC), a high-tech office/research park located on the grounds of the 6,500-acre Picatinny Arsenal in Morris County. The 27,500-square-foot, single-story flex building is part of the initial phase of PARC, which will feature 100,000 square feet of office and lab space. At full build-out, PARC will contain approximately 1.1 million square feet of office, laboratory and flex space. Additionally, Alliant Techsystems has signed on as the first tenant at the new building.
BREINIGSVILLE, PA. — Philadelphia-based MRA Group has signed a 228,600-square-foot lease at the developer’s TEK Park office campus in Breinigsville. DBSi will construct and occupy a 228,600-square-foot, build-to-suit data center within the campus. Construction us currently underway, with completion of the first phase scheduled for late fall. TEK Park has the capacity to support Tier III and Tier IV data center operations, and features six 2,000-kilowatt generators that can provide 5 days worth of back-up power to the campus in case of an outage.
ROSSLYN, VA. — New York City-based Monday Properties will develop a 580,000-square-foot, 35-story office tower in Rosslyn, with expected delivery in 2011. Located at 1812 N. Monroe St., the building will be constructed to Platinum LEED specifications. Monday purchased the site last year and demolished the existing property, an 11-story office building, in July.
ITASCA, ILL. — HSBC-North America is planning to construct a 304,000-square-foot building in Itasca to for a new corporate facility, which will consolidate HSBC’s five existing locations in suburban Chicago. Construction is expected to begin in the fall, with occupancy slated for the third quarter of 2010. Elaine Melonides, Dan McCarthy and Meredith O’Connor of Jones Lang LaSalle negotiated the 15-year build-to-suit lease. The Itasca development is the second phase of HSBC’s plan to consolidate nine of its facilities. Jones Lang LaSalle also worked with HSBC on the first phase of development, which included the company’s new 550,000-square-foot North American headquarters in Mettawa, Ill.
ROYAL OAK, MICH. — Signature Associates, a member of the Cushman & Wakefield alliance, has brokered the sale of a 152,562-square-foot office facility located at 400 West Fourth St. in Royal Oak. John Gordy and Garrett Keais of Signature Associates represented the seller, National City Bank, and the buyer, Howard & Howard Attorneys, in the transaction. National City Bank, which leased back approximately half of the facility for a 10-year term, sold the building for an undisclosed amount. Howard & Howard Attorneys is planning to move its Bloomfield Hills, Mich., office to the remainder of the building.
NEW YORK CITY — A joint venture led by New York City-based The Clarett Group has acquired 180 Madison Avenue, a 23-story, 274,000-square-foot office building located in New York City, for $146 million. Clarett and its joint venture partner, Prudential Real Estate Investors, plan to implement a capital improvement plan. The JV acquired the property from Sitt Asset Management, which was represented by Doug Harmon and Adam Spies of Eastdil Secured. CB Richard Ellis has been brought on as leasing agent for the building.
SAN DIEGO — The Jackson Drive Group (JDG) has completed the disposition of a commercial property in San Diego. Located at 7404-7424 Jackson Dr., the property consists of a 12,220-square-foot multi-tenant, professional building and a freestanding 6,500-square-foot Bank of America branch. At the close of escrow, the property was 100 percent occupied. 7404-7424 Jackson Drive TIC acquired the property for $3.5 million. Scott Collins and Gina Coldani of NAI San Diego represented the seller; the buyer was self-represented in the transaction.
CHARLOTTE, N.C. —Litchin Corp. recently sold the 215,226-square-foot, three-building office park Prosperity Place, located at 10130, 10150 and 10200 Mallard Creek Rd. in Charlotte, to Lancaster, Pa.-based High Associates for $25.6 million. Ryan Clutter, Patrick Gildea and Adam Basch of CB Richard Ellis’ Charlotte office represented the seller.