GREENBELT, MD. — NorthMarq's Washington, D.C., Investment Services team has completed the sale of the 64,261-square-foot Doctors Community Hospital Professional Building, a Class A medical office building, located at 8116 Good Luck Rd. in Greenbelt, to a joint venture between Heitman and Nexcore Group for $23 million. Jim Kornick and Matt Clineball of NorthMarq represented the seller, Doctors Community Hospital.
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CHICAGO — Behringer Harvard has formed a joint venture with Equity Group Investments and Transwestern Investment Company to recapitalize the 754,750-square-foot 200 S. Wacker Drive, a 40-story office building in the West Loop of Chicago's central business district. The building includes amenities such as a fitness center and conference facilities. Behringer Harvard will retain management and a 10 percent ownership interest of the property. Equity Group invested through the Zell Credit Opportunities Fund. J.F. McKinney & Associates will serve as the leasing agent.
CONSHOHOCKEN, PA. — A joint venture between Miller Investment Management and Hayden Real Estate Investments (MIM-Hayden Funds) has partnered with Boston-based The Davis Cos. to acquire the 258,000-square-foot, two-building Valley Forge Office Center, located at 530 and 580 East Swedesford Rd. in Conshohocken. The partnership previously acquired the first mortgage on the property from CW Capital in December 2010 and has now taken full-ownership as a recapitalized entity.
HOUSTON — Fugro Properties, Inc., a division of Fugro, a provider for the collection and interpretation of data relation to the earth's surface and sub-surface, has purchased the eight-story, 148,751-square-foot office building known as Southwest Center at 6671 Southwest Freeway in Houston. Fugro was represented by Bob Gulley and Chris Dray of the investment services group of Moody Rambin Interests, while the seller, NHP Houston, was represented by Danny Miller of HFF.
BOCA RATON, FLA. — Pennsylvania-based Keystone Property Group has purchased 1200 Corporate Place, a four-story, 137,021-square-foot office building, for $15.25 million. Christian Lee, Charles Foschini, Christopher Apone of CB Richard Ellis' Capital Markets Miami office and Scott O'Donnell, Jeffrey Kelly and Dominic Montazemi of the firm's Boca Raton office represented the seller, Equity Office.
NEW YORK CITY — AXIS Reinsurance Co. has leased 121,019 square feet at 1211 Avenue of Americas in New York City, a 2 million-square-foot, Class A office building. Mario Chiarella and Mark Fowler of Weichert Commercial Brokerage and Dana Pike of George Comfort & Sons represented the tenant and Cushman & Wakefield represented the owner, Beacon Capital Partners.
SAN ANTONIO – NorthChase One, a 66,276-square-foot, multi-tenant GSA office building in San Antonio, has sold for $6.6 million. John Abuja and Jason St. John of Marcus & Millichap’s downtown Chicago office and Joshua Swank of its San Antonio office represented the unlisted seller, while Tony Azzi of Marcus & Millichap’s West Los Angeles office represented the unlisted buyer. Located adjacent to the San Antonio International Airport, the property traded at an estimated 9.81 percent cap rate.
LAS VEGAS – MIG Real Estate has purchased the Pines Corporate Center, a 100,000-square-foot, 18-building office park in Las Vegas, for an undisclosed sum. This represents the firm's fifth Las Vegas transaction since October 2010. CBRE's Charles Moore, Michael Newman and Marlene Fujita represented the seller. Newport Beach, CA-based MIG represented itself.
NEW YORK CITY — Colliers International has arranged a 20-year, 34,170-square-foot lease at 215 W. 125th St. in New York City on behalf of EmblemHealth Co. HIP Health Plan of New York for retail and office space. Brian Given, Steve Jaray and Sheena Gohil of the firm's New York City office represented the tenant. The landlord, Cogswell Realty, was self-represented by Ross Jacobs, Eric Sarner, Anthony Stapleton and Sheila Naysan.
WASHINGTON, D.C. — Cassidy Turley has arranged the sale of two new office buildings totaling 639,546 square feet, located at 1100 and 1101 4th St. in Washington, D.C. Bill Collins, Paul Collins, Drew Flood, Jud Ryan and James Cassidy of the firm's Washington, D.C., office represented the seller, Waterfront Associates. The buyer was USAA Real Estate Co.