WASHINGTON, D.C. — A 175,127-square-foot office and retail building, located at 1400 Eye St. NW in Washington, D.C., has been sold for $58.45 million. Tenants of the property includE Campaign for Tobacco-Free Kids, The One Campaign, African Development Foundation, the District of Columbia Police Department and Stein McEwen. Transwestern represented New York City-based Joss Realty Partners, the seller, in the transaction. The buyer was Chevy Chase, Md.-based Zuckerman-Gravely Development.
PLANTATION, FLA. — The 32,688-square-foot Bank of America at Grove East, an office building located at 3800 Broward Blvd. in Plantation, has sold for $5.35 million. The building is fully leased to Bank of America and Chrysalis Health. Douglas Mandel of Marcus & Millichap's Ft. Lauderdale, Fla., office, along with Benjamin Silver of the firm's Miami office, represented the seller, a Coral Gables, Fla.-based private investor, in the transaction and procured the buyer, an Austin, Texas-based investment fund.
DALLAS — NorthMarq Capital has arranged $2.4 million in first mortgage financing for the 68,874-square-foot Parkway North, an office building located at 16800 N. Dallas Pkwy. in Dallas. Ronald Reese of NorthMarq's Dallas office arranged the 10-year loan with a 25-year amortization schedule through Government Personnel Mutual Life Insurance Co. on behalf of the borrower, RMB Parkway North.
WILMINGTON, DEL. — Keystone Property Group has purchased Citizens Bank Center, an 18-story, 221,686-square-foot office tower, located at 919 North Market St. in Wilmington, for $22 million. Jonathan Carpenter and James Wellschlager of Cassidy Turley represented the seller, the Receivership Estate Over Specific Assets of B&R 919 LLC, in the transaction. The building is 80 percent leased.
THE WOODLANDS — The Woodlands Development Co. has secured a $55 million loan for two office buildings, the 216,000-square-foot 4 Waterway Square and the 95,078-square-foot 9303 New Trails, located in The Woodlands. Both properties are well-occupied — 4 Waterway Square is 98.8 percent leased and 9303 New Trails is fully leased. The Woodlands Development Co. arranged the 12-year loan through Prudential Mortgage Capital Co. on behalf of Dallas-based The Howard Hughes Corp. The loan will refinance a maturing construction loan at 9303 New Trails.
WASHINGTON, D.C. — Liberty Property Trust has acquired a 146,472-square-foot office building, located at 1100 17th St. NW in Washington, D.C., from Glenborough LLC for $50 million. The 12-store property is currently 82 percent leased. The company plans to redevelop the property into a Class A building.
MARLBOROUGH, MASS. — KS Partners has signed Environmental Chemical Corp. to a lease renewal and expansion totaling 18,231 square feet and East Coast Cad/Cam to a 4,804-square-foot lease at 33 Boston Post Rd. in Marlborough. In both transactions, Garry Holmes, Craig Johnston and Jim Bartholomew of R.W. Holmes represented KS Partners, the landlord. Hank Amabile and John Coakly of Grubb & Ellis represented Environmental Chemical Corp. Phil Desimone of Jones Lang LaSalle represented East Coast Cad/Cam.
PLAINVIEW, N.Y. — BWD, a private insurance broker company, is moving from its offices in Jericho, N.Y. to a newly built 70,000-square-foot headquarters at 45 Executive Dr. in Plainview. The property is leased from 45 Exec LLC, an investment group, which constructed the building in partnership with the Nassau County Industrial Development Agency.
AUSTIN — LDR has opened its approximately 40,000-square-foot office building, located at 13785 Research Blvd. in Austin, which will serve as LDR's new global headquarters. The office building was a build-to-suit for LDR. STG Design's Austin office was the architect of the new office and Austin-based Burt-Watts Industries was the contractor.
HALLANDALE BEACH, FLA. — KM/Plaza has completed the 24,667-square-foot BGT Media corporate headquarters, located at 600 Silks Run in Hallandale Beach. The property contains 53 offices and MDF workstations, five conference rooms and a kitchenette. Miami-based ADD Inc. was the architect for the project.
