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.
CHICAGO — The American Medical Association (AMA) plans to relocate its Chicago headquarters to 330 N. Wabash, the former IBM Plaza, in September 2013. The physicians' trade group is currently located at 515 N. State St. The AMA has signed a 15-year lease for 275,000 to 300,000 square feet in the building, which will be renamed AMA Plaza. Steve Stratton, Jock Howland and Mike Sessa of Jones Lang LaSalle represented AMA in the transaction. The landlord, Prime Group Realty Trust, represented itself.
FORT WAYNE, IND. —SuperMedia Sales Inc., an advertising agency for small to mid-size businesses, has signed a 10,288-square-foot office lease at Midwestern Office Park, located at 7223 Engle Rd. at the Midwestern Office Park in Fort Wayne. Kathy Moses-Denig of CBRE, Sturges represented the landlord, Midwestern Office Park LLC, in the transaction.
PITTSBURGH — ING Real Estate Finance has closed a $43 million loan for GLL Real Estate Partners, a Munich-based real estate funds management group. The loan was used to refinance a portion of the acquisition costs for 11 Stanwix St., a 24-story office tower in Pittsburgh. ING was the sole lead arranger and administrative agent in the transaction.
TETERBORO, N.J. —Advance Housing, a state-funded community housing development organization, has leased 14,000 square feet for its headquarters at 100 Hollister Rd. in Teterboro. The agency will relocate from Hackensack, N.J. in an expansion move this winter. Curtis Foster of Cushman & Wakefield's East Rutherford, N.J. office represented Advance Housing in the transaction. Michael Marchese of Newmark Knight Frank represented the landlord, KTR Capital Partners.
DALLAS — Equity Office Properties has retained Cassidy Turley to lease and manage 430,000 square feet of office space in the Dallas area, including Cedar Maple Plaza I, II and III (120,000 square feet) in Dallas, Duke Bridges III (160,000 square feet) in Frisco and 5556 and 5560 Tennyson Pkwy. (150,000 square feet) in Plano. The majority of these properties were part of The Blackstone Group's acquisition of Duke Realty's 10 million-square-foot office portfolio. Bret Bunnett of Cassidy Turley's Dallas office and Randy Stephens of the the firm's Columbus, Ohio, office took part in the interview process which won Cassidy Turley the assignment. Cassidy Turley is currently handling the leasing for another 500,000 square feet for Equity Office Properties, which brings the total for Cassidy Turley to nearly 1 million square feet.