WASHINGTON, D.C. — Washington, D.C.-based Rock Creek Property Group has purchased a 28,366-square-foot building, located at 1100 16th St. NW in Washington, D.C., at a foreclosure auction from Tysons Corner, Va.-based Cardinal Bank for $4.72 million. The company plans to gut the building and convert the project into a first-class office headquarters. Rock Creek has retained Washington, D.C.-based OTJ Architects as the base-building architect and planner. Construction is slated to begin in the first half of 2012 with completion slated for later in the year.
NORWALK, CONN. — In a joint venture, KABR and Blackpoint Partners have acquired 535 Connecticut Ave. in Norwalk for $11 million. The 175,000-square-foot, Class A office building is newly renovated and includes a gym, cafeteria and conference facility. The seller, LNR Partners, foreclosed on the previous owner, who purchased the building in 2006 for $26.5 million.
WESTBURY, N.Y. — NorthMarq Capital has arranged $18 million in first mortgage refinancing for The Park Atrium, a 116,943-square-foot office building, located at 865 Merrick St. in Westbury. Ernest DesRochers and Charles Cotsalas of NorthMarq arranged the loan through NorthMarq's correspondent relationship with National Life Insurance Co. The 5-year loan has a 30-year amortization schedule.
CHICAGO — Summit Design + Build LLC has completed a 14,500-square-foot build-out of office space for Applegate & Thorne-Thomsen P.C., a law firm spanning the entire fourth floor of 626 W. Jackson Blvd. in Chicago's West Loop. The new office includes private offices, conference rooms, a reception area and exposed brick. Applegate & Thorne-Thomsen marks the fifth build-out Summit has completed within the 626 W. Jackson building in the past 18 months. The firm has also completed build-outs for Thompson Flanagan, Sterling Bay Cos., Rightpoint and Schuman and Schuman, Simon & Grodecki Ltd. Summit & Design + Build's Dave Mooney, Pat Lynn and Rodger Meyer were responsible for the on-site construction of the law firm. Fitzgerald Earles Architects and Associates was the architect for the project.
GRAPEVINE — Regions Bank has sold a 26,240-square-foot, two-building office property, located at 1900 Enchanted Way in Grapevine, to Capital Commercial. Kevin Santaularia, Todd Lambeth and Joe Santaularia of Dallas-based Bradford Commercial Real Estate Services represented the seller in the transaction.
PEORIA, ARIZ. — Thunderbird Commons, a four-building, 54,872-square-foot medical and retail property in Peoria, has sold to Second City Capital Partners for $7,650,000. The complex also contains two pads totaling about 2.6 acres. Second City plans to extensively renovate the complex and rename it Thunderbird Wellness Centre. The firm was represented by Bob Broyles and Bill Saul of Colliers International in Phoenix. The seller was Thunderbird Commons Holdings I, LLC. Financing was arranged through Brandon Harrington of Cohen Financial.
TAMPA, FLA. — Humana has signed a 52,433-square-foot lease for office space at MetWest One, located at 4030 W. Boy Scout Blvd. in Tampa. Approximately 250 associates are scheduled to move into the building in the second quarter of 2012. Leigh Anne Johnson and Thomas Dyer of UGL Equis' Tampa office represented the tenant in the lease transaction. Angela Odell of Taylor & Mathis' Tampa office represented the landlord, MetLife.
SOMERSET, N.J. — SHI International, a technology software provider, has completed its 15-month relocation to its new headquarters. The company moved from Piscataway, N.J. to 290 Davidson Ave. in Somerset, a 420,000-square-foot facility, which is three times larger than SHI's pervious space. The property features two, five-story towers as well as a third ancillary building. Last year, Jones Lang LaSalle represented SHI in its purchase, and the firm's project and development services group managed the relocation.
ALLENTOWN, PA. — Access Services, a non-profit organization that provides support services to individuals with special needs, has purchased 3975 Township Line Rd. in Allentown for $1.2 million. The building includes 15,912 square feet of office space. NAI Summit represented the seller, Lafayette Ambassador Bank. NAI also represented the buyer.
HOUSTON — Los Angeles-based TPG/CalSTRS, an affiliate of Thomas Properties Group, has sold the 806,004-square-foot Brookhollow Central, a three-building office property located 2800 N. Loop W. in Houston, for $8 million after closing costs and mortgage debt repayment. The sale comes after Thomas Properties Group repositioned the complex, including Comerica Bank's 220,000-square-foot lease.