WASHINGTON, D.C. — The Association of American Railroads has signed a 33,619-square-foot lease with Bethesda, Md.-based Clark Enterprises for space in its Capitol View office building. The Class A property is located at 425 3rd St. in Washington. The association will move into the building in September, occupying 15 percent of the property. Scott Frankel, Art Santry and Doug Mueller of CB Richard Ellis’ Washington office represented the landlord. Bruce McNair and Josh Hartman of Grubb & Ellis’ Washington office represented the tenant.
RALEIGH, N.C. — Poway I has acquired a 10,200-square-foot Raleigh office/flex building for an undisclosed amount through a 1031-exchange with 1648 North Market Drive LLC. The property is located at 1648 N. Market Dr. Branham Stovall, II, of Raleigh-based Drucker & Falk Real Estate represented the buyer.
CHICAGO — Cape Horn Group has completed three sales at The LaSalle Wacker, a 41-story, 414,000-square-foot office condo tower in Chicago. Greaves Travel acquired the entire 25th floor, relocating from a building it owned at 304 W. Randolph, which is scheduled to be demolished to make way for The John Buck Company’s proposed 222 W. Randolph office tower development. Eric Sorenson and Chris Tarzon of The John Buck Company represented Greaves Travel; Larry Cohn of Cape Horn Group negotiated the purchase on behalf of the building owner. Also, Scheff and Associates, a court reporting and stenographic services company, purchased 1,053 square feet of office space on The LaSalle Wacker’s 19th floor. The buyer was represented by Tom Reeves of Dreamtown Realty. Finally, Ernest P. Chiodo acquired a 621-square-foot office space on the eighth floor. Cape Horn Group was represented in-house by Noel Ross.
URBANA, MD. — Banner Life Insurance Co. has leased 115,000 square feet in a new building in the Urbana Corporate Center from Natelli Communities. Akridge Development will finish construction on the building by the summer of 2011, at which point Banner will occupy the Urbana property. Gaithersburg, Md.-based McShea & Co. represented the landlord in the lease, and Banner Life was represented by Robb Johnson of Jones Lang LaSalle’s McLean, Va., office and Jim Cahill and Pete Briskman of the firm’s Baltimore office.
ORLANDO, FLA. — Harland Financial Services has signed a 10-year, 80,000-square-foot lease for space at Primera Building III in Orlando for $18 million. The office property is located at 605 Crescent Executive Court. Richard Solik of Cushman & Wakefield’s Orlando office represented Harland.
SUMMERVILLE, S.C. — DHE Properties has completed the 14,800-square-foot 210 Cember Way and the 12,000-square-foot 216 Cember Way in the Hensley Commerce Park in Summerville. The office/warehouse properties are owned by Superior Electric. Hensley Commerce Park spans seven buildings and 95,000 square feet of space.
NAPERVILLE, ILL. — Ryan Companies U.S. has designed and will build a four-story, 85,000-square-foot office building for Delta Dental of Illinois in Naperville. Located at 123 Shuman Blvd. along Interstate 88, the multi-tenant building will also become home to Ryan Companies’ area office, as it plans to relocate from an adjacent property and lease approximately 20,000 square feet of space upon completion. Ryan sold the 5 acres on which the building will be built to the new building owner. Delta Dental is relocating its operations from Lisle, Ill., in an effort to expand operations and establish a greater corporate identity with signage along I-88.
EDISON, N.J. — The Debt & Equity Finance Group of CB Richard Ellis (CBRE) has secured $35 million for the refinancing of 379 Thornall Street, a 15-story, Class A office building located in Edison. The property totals 331,053 square feet and was 93 percent leased at the time of closing. CBRE’s James Gunning and Donna Falzarano originated the loan on behalf of M. Alfieri Co. The loan includes a 3-year term and a fixed interest rate; the lender was a New Jersey-based commercial bank.
NEW YORK CITY — Satellite provider DIRECTV has expanded its offices at One Rockefeller Plaza, a 600,000-square-foot office building located in Manhattan, New York City. The company signed a 12,996-square-foot lease for a portion of the second floor. It now occupies 77,471 square feet of the building, comprising the entire fifth, sixth and seventh floors, as well as the new lease on the second floor. DIRECTV was represented in lease negotiations by Arthur Mirante and Adam Rappaport of Cushman & Wakefield’s New York office, along with C.L. Baskin of the firm’s Dallas office. The landlord, Tishman & Speyer, was represented in-house by Peter Brindley and Ted Koltis. Terms of the lease were not disclosed.
HOUSTON — Groundbreaking has occurred for a build-to-suit office building for Arch-Con Corp., a Houston-based general contractor. The three-story, 21,000-square-foot building is located on West Gray Street in Houston’s River Oaks submarket. The project was designed by locally based Ziegler Cooper Architects. The construction timetable was not released.