LAKEWOOD, COLO. — NorthMarq Capital Inc. has arranged $2.45 million in permanent financing for Academy Center, a four-story, multi-tenant office building in Lakewood. Located at 7175 W. Jefferson Ave., the 68,717-square-foot property was built in 1984. Steve Bye and Brian Smith of NorthMarq’s Denver office arranged the financing for the undisclosed borrower.
BELCAMP, MD. — Construction has begun on a 24,000-square-foot office building, the third in Columbia, Md.-based Manekin and Alex Brown Realty’s $60 million, 467,000-square-foot Water’s Edge Corporate Campus, located at the intersection of U.S. routes 40 and 543 in Belcamp. The lead tenant, Johns Hopkins Community Physicians, has signed an 11-year lease for the new building, which will deliver in February.
ANNAPOLIS, MD. — Canada-based Sun Life Assurance Co. recently sold the 51,971-square-foot Parkway Building, located at 200 Harry S. Truman Pkwy. in Annapolis, to the Maryland Association of Realtors for $12.8 million. The four-story building is 92 percent leased. Sun Life was represented by Dennis Malone, Phil Iglehart, Jay Wellschlager and Jon Carpenter of Colliers Investment Services Group, a division of Colliers International.
HENRICO COUNTY, VA. — JEDD of South Carolina has purchased the 62,700-square-foot, two-office property Parham Place I & II, located at 1910 and 1920 E. Parham Rd. in Henrico County, from Parham Place I & II Associates for $7.6 million. Eric Robison, Evan Magrill and N. Dean Meyer of Thalhimer’s Richmond, Va., office handled negotiations for the 100 percent occupied building.
SPRINGFIELD, MO. — Los Angeles-based FORT Properties has acquired the 268,413-square-foot Chase Operations Center located at 303 East Republic Rd. in Springfield. The three-story, Class A building, which was sold by Brookfield Real Estate Opportunity Fund, is fully leased until August 2027 to JPMorgan Chase Bank N.A. As the company’s largest service call center in the United States, the facility is configured to allow an additional 35,500 square feet of on-site expansion space. While the acquisition price was not disclosed, financing was provided by First National Bank of St. Louis. FORT Properties negotiated the purchase in-house through Robert Alter; the seller was represented in the transaction by John Alvarado, Jack Crews, Evan Stone and Seth Barne of Jones Lang LaSalle Americas.
GREENSBURG, PA. — CB Richard Ellis (CBRE) has brokered the sale of an 83,000-square-foot office building, located at 144 N. Main St. in Greensburg, for $15.15 million The property was constructed in 2007 as a build-to-suit for the Commonwealth of Pennsylvania Department of Labor and Industry, which currently occupies the entire building on a 15-year lease. Stephen Marzullo and Michael Blunt of CBRE’s Philadelphia office represented the seller, Hermitage, Pa.-based Hudson Holding Co. The buyer was undisclosed.
BOULDER, COLO. — Crown West Realty LLC has purchased a two-story office building in Boulder for $10.9 million. Located at 5775 Flatiron Pkwy., the property offers 96,000 square feet of office space. Invesco Real Estate sold the property, which was built in 1987. At the time of acquisition, the building was 96 percent occupied by a variety of tenants, including CH2M Hill, Konica-Minolta, Wall Street on Demand, Vexcel and SimAuthor Inc.
LINTHICUM HEIGHTS, MD. — Construction has begun on Rockville, Md.-based Opus East’s 9.5-acre, 160,000-square-foot development of West*Quest C, an office building located in the West*Quest Technology Park on the Baltimore—Washington corridor in Linthicum Heights. Global defense firm Northrop Grumman has signed a 10-year lease to fully occupy the building, which was constructed to LEED standards. The building will deliver in the third quarter of 2009.
EDEN PRAIRIE, PLYMOUTH AND BLOOMINGTON, MINN. — GE Real Estate has provided a $33.2 million flexible fixed-rate loan to Dougherty Commercial Properties for the acquisition of nine offices throughout suburban Minneapolis. The 3-year loan includes two 1-year extensions. Totaling 448,254 square feet, the portfolio consists of two office buildings and seven flex buildings across five properties in Eden Prairie, Plymouth and Bloomington. Minneapolis-based Dougherty and its joint venture partner JRK Birchmont Advisors are investing approximately $11 million of equity in the transaction, which was brokered by Chris Perry and Matt Halberg of Grandbridge Real Estate.
EULESS, TEXAS — Arlington, Texas-based SCM Real Estate Services has brokered the tenant-in-common purchase of a 75,057-square-foot office building located at 150 Westpark Way in Euless. SCM represented the tenant-in-common buyer group in the transaction; the seller was undisclosed. SCM has also been brought on to manage the property. A capital improvement plan will be implemented that will include a new HVAC system, roof and interior aesthetics, as well as parking lot improvements. Darrel Higginbotham of SCM will serve as exclusive marketing agent for the property’s remaining space.