IRVING — Pepco Energy Services, Inc., a subsidiary of Pepco Holdings, Inc., has opened a 3,200-square-foot office in Irving, which will serve as the subsidiary’s Texas headquarters. The office is located at 1200 Walnut Hill Lane, Ste. 1300 in Irving. Ben Appleby Sr. of PM Realty Group was lead broker for Pepco’s expansion. Pepco Energy has completed more than 450 energy services projects in the past 15 years worth more than $850 million.
SAN DIEGO – The California Department of Insurance has signed a 124-month lease for 12,715 square feet of space at the Scripps Ranch Center office complex in Scripps Miramar Ranch. The 47,962-square-foot complex is 73 percent occupied and recently underwent a $650,000-redesign to achieve a LEED-CS Silver certification from the U.S. Green Building Council. CBRE's Bill Bacon and Steve Ferreira represented the California Department of Insurance. The landlord, Pacific Office Properties Trust, was represented by JLL's Tony Russell and Richard Gonor.
SARASOTA, FLA. — Grubb & Ellis Healthcare REIT II has acquired the 41,000-square-foot Maxfield Medical Office Building, located at 5831 Bee Ridge Rd. in Sarasota, from Maxfield Medical Building LLC. The REIT financed the purchase with a $5.12 million loan assumption and cash proceeds received from its offerings. Duane Henderson of Wagner Realty's Bradenton, Fla., office represented the seller, and Manfred Welfonder of MW Development & Investment Advisory represented the buyer.
WARWICK, R.I. — White Plains, N.Y.-based Seavest Inc. has broken ground on a $13.6 million, two-story medical office building at 455 Toll Gate Road in Warwick. The new 62,454-square-foot facility will house the ambulatory surgery center and physician offices of Kent Hospital, which part of the Care New England Health System. The owner of the facility, Seavest Properties III Healthcare Real Estate Fund, will lease the 0.76-acre site. The building is set for a summer 2012 opening.
NEW YORK CITY — New York City-based Massey Knakal has brokered the $2.7 million sale of a commercial condominium in the Chelsea neighborhood of Manhattan. The property is located on the sixth floor of the Chelsea Arts Tower, which was completed in 2006. Massey Knakal’s Brock Emmetsberger and Cindy Glanzrock of Glanzrock Realty Services represented the seller.
BURR RIDGE, ILL. — NorthMarq Capital has arranged $26.86 million in first mortgage financing for a 105,000-square-foot medical office building located at 6800 N. Frontage Rd. in Burr Ridge. Loyola University Health System, now known as Trinity Health, is the major tenant at the property. Jeff Cherner and Rup Patel of NorthMarq's Chicago office secured the financing through Bank of America.
PHOENIX – Chrysler Group LLC has signed a 16,212-square-foot lease at Phoenix's Paradise Village Office Park. The automaker is opening a new administrative office at the 268,598-square-foot, Class A building. It plans to occupy the space this October. Jerry Noble, Pat Devine and Greg Mayer of CBRE’s Phoenix office represented the building’s owners, Sterling American Property and Lincoln Property Company, in the six-year lease negotiation. Chrysler was represented by Dev Gupta of UGL Equis Corporation in Phoenix. Financial terms of the lease were not disclosed.
WASHINGTON, D.C. — CB Richard Ellis has negotiated the sale of the eight-story 1301 and 1317 Connecticut Avenue, a boutique office building and three-story retail property in Washington, D.C. Bill Prutting, Jr., William Kaye, Randall Heilig and Seth Benhard of CBRE's Washington, D.C., office represented the seller, New York-based Norvin Partners. The buyer was San Francisco-based Shorenstein.
NEW YORK CITY — Aragon Construction has finished a 17,000-square-foot office building built from the ground up for MDC Partners at 73 Fifth Ave. MDC will occupy the space on the 19th floor. Aragon completed the project in conjunction with TPG Architecture. Other tenants in the building include Bergdorf Goodman, Paramount Group and Schroder & Kopel.
RICHARDSON — Tampa, Fla.-based Carter Validus Mission Critical REIT, Inc. has acquired a 20,000-square-foot data center for $28.9 million in Richardson. The property is 100 percent leased by a national health organization. The data center supports technology infrastructure equipment deployment on more than 10,000 square feet of 36-inch raised floor space. There are diverse feeds from two power substations what provide redundant power supporting 1.68 megawatt of critical load power, expandable to 2.25 megawatts.