DALLAS — Southwest Transplant Alliance, a non-profit organ recovery organization, has sold a 33,561-square-foot office building in Dallas that served as its headquarters for 10 years. Mike Gosslee of Cushman & Wakefield represented Southwest Transplant Alliance, which will relocate to a 77,000-square-foot building that is currently under construction, in the transaction. Fears | Nachawati, a Dallas-based plaintiffs law practice, acquired the asset for an undisclosed price.
WASHINGTON, D.C. — Newmark Knight Frank (NKF) has arranged the $209.1 million sale of the McPherson Building, a 12-story, 255,968-square-foot office building in downtown Washington, D.C. The property is located at 901 15th St. NW, one block from The White House and The Treasury Building. McPherson Building was 97 percent leased at the time of sale to tenants including Booz Allen Hamilton, New York Life Insurance Co. and law firm Davis Polk & Wardwell LLP. Forrester Construction recently completed a $30 million renovation to the building’s lobby, fitness center, elevators, common areas and restrooms. James Cassidy and Jud Ryan of NKF represented the undisclosed seller in the transaction. Northwestern Mutual acquired the building.
FREDERICK, MD. — Frederick Memorial Healthcare Systems (Frederick Health) has acquired the former State Farm office campus in Frederick for $18.6 million in an effort to expand its footprint in the area. Located at 1 State Farm Drive four miles north of downtown Frederick, the campus comprises a 387,000-square-foot office building, 1,600 parking spaces and 20,000 square feet of warehouse space. The newly named Frederick Health Village will allow Frederick Health to move its call center, home healthcare services, hospice and other administrative offices to the site, plus plan for further expansion. Frederick Health currently has offices in downtown Frederick. Jim Fitzgerald and Seamus Fitzgerald of Fitzgerald Realty Group represented the buyer in the transaction. The seller was not disclosed.
DURHAM, N.C. — Longfellow Real Estate Partners has purchased Swabia Court, a 112,340-square-foot office building within Research Triangle Park in Durham, for $12.2 million. Longfellow plans to renovate the property in first-quarter 2020 to add lab space and implement its amenities and hospitality program, Elevate, which includes amenities such as fitness centers, tailored lunch and learns, pop-up shops, gathering spaces and services such as salon, dental and dry cleaning. Swabia Court was built in 1987 and is situated at 1035 Swabia Court, 10 miles south of downtown Durham. Capital Square 1031 LLC was the seller.
FARMERS BRANCH, TEXAS — A partnership between locally based investment firms Reserve Capital Partners and 2GR Equity has acquired Two Colinas Crossing, a 180,504-square-foot office building located in the northern Dallas metro of Farmers Branch. The Class A property was built in 2000 and houses tenants such as IBM, S&P Global, BBVA and Home Point Financial. Clint Coe, Jason Piering and Jack Crews of JLL brokered the deal. The seller was not disclosed.
PASADENA, CALIF. — JLL has brokered the $193 million sale and secured $160 million in financing for The Pasadena Collection, an institutional-quality office portfolio in Pasadena. Swift Real Estate Partners acquired the asset from a global investment manager. Totaling 516,890 square feet, the portfolio includes a 146,313-square-foot building at 790 E. Colorado Blvd., a 211,792-square-foot building at 155 N. Lake Ave. and a 158,785-square-foot building at 35 N. Lake Ave. At the time of sale, the portfolio was 68 percent occupied. Michael Leggett, Andrew Harper and Matt McRoskey of JLL Capital Markets represented the seller, while Paul Brindley, Todd Sugimoto, Jeff Sause and Steven Paskover of JLL Capital Market secured acquisition financing for the buyer.
HENDERSON, NEV. — PREH Paseo Verde LLC has purchased 2200 Paseo Verde, a Class A office building located at 2200 Paseo Verde Parkway in Henderson. Pacific Oak SOR II sold the asset for $19.4 million. Situated within The District at Green Valley Ranch, the 60,499-square-foot property features 24-hour access, a courtyard, balcony and on-site property management. At the time of sale, the building was 94 percent leased to a variety of tenants, including Berkadia Real Estate Advisors, Ticor Title, Umpqua Bank, Michaelson & Assoc. LTD and Ford & Friedman. Charles Moore, Marlene Fujita and Hunter Bradshaw of Cushman & Wakefield brokered the transaction. Cushman & Wakefield also handles leasing and property management for the building.
CHICAGO — Mag Mile Capital has opened its headquarters office in a new custom-built location in Chicago’s West Loop. The new office is located at 1141 W. Randolph St. within the Fulton Market district. It features a loft-style design with private rooftop access. Mag Mile celebrated the opening with an evening reception for its team, clients, partners and vendors in October. Mag Mile Capital, a full-service commercial real estate mortgage and investment banking firm, now has seven offices across the country. Rushi Shah serves as president and CEO.
ANDOVER, MASS. — Condyne, a Massachusetts-based developer, has sold 160 Dascomb Road, a 125,609-square-foot research facility in Andover, located approximately 20 miles north of Boston, for $26.2 million. The facility was 100 percent leased to Lockheed Martin and data and security company Accu-Tech at the time of sale. Boston Private Bank provided $17.2 million in acquisition financing. Coleman Benedict, Matthew Sherry, Kerry Hawkins, Ben Sayles and Michael Restivo of JLL represented Condyne in the transaction. An affiliate of Northbridge Partners was the buyer.
MOUNT LAUREL, N.J. — Colliers International has brokered the $10.6 million sale of the Fellowship Business Center, a 96,000-square-foot office complex in Mount Laurel, an eastern suburb of Philadelphia. The five-building complex is situated within the East Gate Business Park and was 96 percent occupied at the time of sale. Ian Richman and Marc Isdaner of Colliers represented the seller, The Bloom Organization. The buyer was a private investor.
