WASHINGTON, D.C. — New Boston Fund has acquired 67,000 square feet of office space in an 11-story office building, located at 111 K St. NE in Washington, D.C. Jud Ryan of Cassidy Turley's Washington, D.C., office represented J Street Cos., the seller, in the transaction. The property was purchased as part of New Boston Fund VII.
BOSTON — Alan Gray Inc. has signed a 13,434-square-foot lease renewal at 88 Broad St. in Boston. Christian Gotfredson of NAI Hunneman represented the property owner, Bay State Realty in the deal. He also assisted the tenant. Located in Boston's Financial District, 88 Broad St. is a 63,829-square-foot office building. Alan Gray Inc. is an international insurance claims management and financial services firm.
HOUSTON — Jones Lang LaSalle has arranged the sale of two office buildings totaling 141,265 square feet, located at 16350 and 16360 Park Ten Place inside the Park 10 Regional Business Center in Houston's Energy Corridor submarket. Rudy Hubbard and Leah Gallagher of Jones Lang LaSalle's Capital Markets team in Houston represented the seller, American Spectrum Realty, in the transaction. The buyer was Hicks Ventures, Ltd.
PORTLAND, ORE. – The FBI has signed a 20-year lease at 9109 Northeast Cascades Parkway in Portland. This 134,159-square-foot space will serve as a field office for the bureau. The General Services Administration (GSA) was represented by Reva Squire, Dan Reidy, Julie Rhoades and Patrick Robles of Jones Lang LaSalle. The landlord, PH Portland, LLC, was represented by Dave Squire of Grubb & Ellis, Bruce Allen of PDC, and Matt Connelly and Chuck Moody of Molasky.
TOWSON, MD. — NorthMarq Capital has secured $13.6 million in first mortgage refinancing for the 123,400-square-foot Fairmount Place II, an office building located at 515 Fairmount Ave. in Towson. Nancy Ferrell of NorthMarq's Baltimore office arranged the 10-year loan with a 25-year amortization schedule through UNUM.
RICHMOND, VA. — Richmond-based Lingerfelt Development has started construction on the $100 million, 300,000-square-foot BioTech 8 building, a three-building headquarters for Health Diagnostic Laboratory Inc. (HDL), located within the 34-acre Virginia BioTechnology Research Park in downtown Richmond. After demolishing the BioTech 3 building, the company will construct Phase I of the property, which will include a 112,000-square-foot, six-story wet lab biotechnology building. Completion is slated for December 2012. A second phase, including an additional 112,000-square-foot, six-story tower, will begin in 2013. When fully completed, both phases plus HDL's existing building will total 300,000 square feet.
CHICAGO — Vancouver, B.C.-based real estate developer Onni Group has acquired 200 N. LaSalle, a 30-story office building in Chicago, for a reported $101 million. Younan Properties said it sold the 645,170-square-foot tower as part of its deleveraging strategy to recycle capital and strengthen its balance sheet. Stephen Livaditis and Chang Lee of the Chicago office of Eastdil Secured represented Younan in the transaction.
STOW, OHIO — Stow Professional Building LP has purchased a 38,000-square-foot office building, located at 4500 Courthouse Blvd. in Stow, a suburb of Akron, for $5.7 million. Bill Drinkall of NAI Harding Dahm represented the buyer in the deal. The sellers were Clunk Omni LLC, David B. Gillette Bypass Trust and D. Jeanne Gillette Survivor's Trust.
ST. PETERSBURG, FLA. — HFF has secured $30.75 million in financing for the 295,200-square-foot One Progress Plaza, a Class A office building located at 200 Central Ave. in St. Petersburg. Paul Stasaitis, Chris Drew and Kim Flores of HFF's Miami office arranged the 10-year, fixed-rate loan through American National Insurance Co. on behalf of the borrower, Kucera Properties.
MORRISTOWN, N.J. — TM Forum has renewed and expanded its lease to 16,500 square feet at 240 Headquarters Plaza in Morristown. Sam Horowitz and Chris Hovanec of UGL Services' Iselin, N.J. office represented the tenant in the deal. Ben Brenner, Jon Williams and Robert Donnelly Jr. represented the owner, Olnick-Fisher Development Associates. TM is an international, non-profit association for service providers and their suppliers in the information, telecommunications and entertainment industries.