ANOKA, MINN. — Brian Hennen of NorthMarq Capital's Minneapolis office arranged $4.8 million for the refinancing of Terrace Hill Apartments in Anoka. The 63-unit property is located at 14320 Dysprosium St. NW. AmeriSphere Mortgage Finance provided the 35-year loan, which has a 35-year amortization schedule.
PARSIPPANY, N.J. — Cole Real Estate Investments has acquired a 176,000-square-foot office property in Parsippany for $53 million. The building is located at 8 Sylvan Parkway and serves as the global headquarters for the Medicines Cos. The pharmaceutical firm has 12 years remaining on its lease. Cole was represented in-house by Robert Corry. Kevin Welsh of CBRE's Saddle Brook, N.J. office represented the seller, The Hampshire Cos.
WASHINGTON COUNTY, PA. — Mylan Inc. plans to build a new 280,000-square-foot headquarters at Southpointe II in Washington County, Pa. The five-story office building will be located on Town Center Boulevard near its current headquarters. The building is expected to be completed in 2013. Mylan, a pharmaceutical company, has doubled its number of employees in the last five years and will use the new space to expand operations.
CHAPEL HILL, N.C. — NorthMarq Capital has arranged $5.5 million in first mortgage refinancing for 300 & 400 Market St., two buildings totaling 64,362 square feet located in Chapel Hill. The buildings contain retail and office space. Todd Crouse of NorthMarq's Raleigh, N.C., office secured the 10-year loan with a 20-year amortization through Genworth Financial.
BILLERICA AND TEWKSBURY, MASS. — Brookwood Financial Partners has executed leases for 110,923 square feet at the Brookwood Business Center in Billerica and Tewksbury, Mass. Potpourri Group inked a 72,000-square-foot lease for its corporate headquarters and DGI-Invisuals LLC signed a lease for 38,923 square feet. Neil Ross and Greg Zais of Jones Lang LaSalle represented Potpourri in the transaction, while Sam Oddo of Oddo Inc. represented DGI. Richards Barry Joyce & Partners represented Brookwood.
RICHMOND — The law office of Steven Rocket Rosen has purchased the 6,000-square-foot Morton Street Gallery, a 6,000-square-foot gallery located at 214 Morton St. in Old Town Richmond. The gallery will be repositioned into an office building. Tawnya Dornak of Sugar Land-based ICO Commercial represented the buyer in the transaction. Diana Powers of Richmond-based RE/MAX Plantation represented the undisclosed seller.
DALLAS — BOKA Powell has created a new design for the 400,000-square-foot Victory Park office tower, a Class A building under construction in the Victory Park mixed-use development in downtown Dallas. BOKA Powell is teaming with KDC for the construction of the 23-story tower, which includes eight stories of parking. The design features 10-foot ceiling heights, high efficiency mechanical and electrical systems, LED lighting systems and an elevator control system that reduces the number of hoistway openings. Construction is expected to begin this fall and is slated for a late 2014 completion. BOKA Powell is working with potential tenants on office layouts and is pursuing LEED certification.
MIAMI — Marcus & Millichap has arranged the $4.6 million sale of a 42,000-square-foot office building, located at 550 LeJune Rd. in Miami, and an adjacent 8-unit apartment building. Greg Zeifman and Benjamin Silver of Marcus & Millichap's Miami office represented the seller, a Miami-based international nonprofit organization, in the transaction and procured the buyer, a Miami-based developer.
ATLANTA — The 900,000-square-foot Atlanta Financial Center, located at 3343 Peachtree Rd. NE in Atlanta's Buckhead submarket, has achieved LEED Silver certification. Hines owns and manages the building, which is currently 83 percent leased. Tenants include Morris, Manning & Martin, North American Electric Reliability Corp., Prudential Insurance Co. of America, Robert Half International and SunTrust Robinson Humphrey. Green features include alternative transportation options of commuters; a partnership with Sustainable Buckhead and the Buckhead Area Transportation Management Association; an on-going electronic recycling program; energy efficient lighting with reduced mercury content; environmentally sensitive cleaning products and practices; and reduction of water use through the utilization of low-flow fixtures. The building is 24 percent more energy efficient and annually saves more than $630,000 in energy costs compared to the average U.S. office building.
BALTIMORE — The University of Maryland Faculty Physicians Inc. (FPI) has renewed and expand its lease, located at 250 W. Pratt St. in Baltimore, by 25,102 square feet. FPI now occupies a total of 61,993 square feet. Tim Jackson, Courtenay Jenkins and Whitney Nye of Cushman & Wakefield's Baltimore office represented the landlord, Behringer Harvard Funds, in the transaction. Matthew Haas and Kevin Haus of Colliers International's Columbia, Md., office represented the tenant.