CB’s Bill Kent and Gary Lawrence helped broker a $108.1 million portfolio sale of seven grocery-anchored shopping centers in the Mid-Atlantic region. Jacksonville, Fla.-based Regency Centers, along with partner Macquarie CountryWide of Australia, sold the so-called “Mid-Atlantic portfolio” to a JV between Spectrum Partners and Angelo Gordon. Kent and Lawrence represented Regency and Macquarie Countrywide. The portfolio traded at a 7.75% cap rate.
USGBC has inked a 75,446 SF lease at 2101 L, with plans to occupy its new space in March 2009. CB’s Sally Wilson, Pat Marr and Chau Leung represented USGBC in the deal. CB’s project management team, led by Chris Brown and Dale Martin, assisted on the site selection and pre-construction planning. The duo will also serve as USGBC’s representative for the construction phase of the project.
According to Wilson, USGBC has outgrown its diggs at 1800 Mass., after only two short years there. With no space available to expand in its current building, it now needs to move to accommodate the new hires it wants to make.
USGBC’s architect, Envision Design and engineers, GHT, also participated in the site selection decision to give USGBC a sense of whether the building can meet the highest LEED rating.
According to its initial evaluation, the organization should be able to attain a LEED Platinum rating for the build out of its interior space.
Meanwhile, USGBC will be occupying 15,000 SF at 1919 M for the short term to accommodate its growth.
Cellular company Simplexity has signed for 47,500 SF at 10780-10790 Parkridge in Reston in an expansion-consolidation play. The 208,000 SF building is owned by Penzance Cos. Chris Wolf and Art Greenberg of Studley represented the tenant in the transaction. Andy Klaff of Grubb & Ellis represented the landlord. Simplexity originally occupied 11,000 SF in the building.
Normandy Real Estate Partners has filled 65,000 SF of space in the DC area in recent months. These transactions include an expansion at Glenview II, a 80,000 SF building in Chantilly, signed by AOC Solutions for 20,000 SF. AOC was represented by JLL’s Harry Klaff. Cassidy and Pinkard Colliers brokered the deal for Normandy.
Keller Williams Realty also picked up 6,785 SF of office space at Glenview II, and was represented by Cassidy and Pinkard.
Other deals: Normandy expanded a lease for Phoenix Consulting Group at 6910 Richmond Highway in Alexandria, by 25,000 SF, to 54,000 SF in total. Millenium Realty Advisors represented Normandy in leasing up the five-story, 87,329 SF, office. Ezra Co. represented Phoenix.
Kalbaugh, Pfund & Messersmith also recently extended a lease at 4031 University in Fairfax, a transaction that was also brokered by Millenium Realty. At 1775 Wiehle Ave., in Reston, Internet Society expanded and extended its lease to occupy 10,083 SF in the five-story building. Transwestern represented Internet Society and JLL brokered the deal for Normandy.
Perseus Realty Capital is providing $78.75 million to finance JPI East’s recent acquisition of the 747-unit Orchard Pond apartment building in Gaithersburg. Orchard Pond is a 24-building development that is 92% occupied. JPI plans to upgrade the property and may well develop an additional apartment building at the site.
Accordingly, the PRC’s financing – which is a full debt-and-equity stack -- reflects these duel goals, with one tranche fixed, and one floating. PRC's Tom Howland and Moiz Doriwala managed the equity for the transaction and Lindsay Stroud managed the debt. GE Capital provided the loan.
HFF’s Bob Donhauser, Bill Asbill and director Cary Abod placed a $241.1 million, three-year, fixed-rate loan with Calyon, Bank of Ireland, PB Capital and Helaba to finance Ralph Dweck’s 51 Louisiana and 300 New Jersey project.
Jon Bortz, chairman, CEO and president of Bethesda’s LaSalle Hotel Properties, will be retiring in 2010. COO Michael Barnello, a long-standing executive at the REIT, will be taking his place.
Monday Properties has hired James Berkon as vice president of design and construction. His immediate mandate is to oversee the redevelopment of the company’s extensive Rosslyn holdings, starting with the reconstruction of 1812 N. Moore St. Last May Monday Properties acquired a 10-building office portfolio from Beacon Properties for $1.23 billion. These buildings, the company says, account for 30% of Rosslyn’s office market.
The District is soliciting bids to redevelop two lots in the city’s southwest neighborhood. The A parcel is roughly 34,000 SF, located along Sixth, between School and E. It is currently occupied by Engine Co. 13, a two-story fire station that must be either incorporated into the development program or be relocated close by.
The B parcel is a 19,000 SF vacant lot bordered by 4th, E and the Southwest/Southeast freeway. Both sites are next to the police department’s First District headquarters, where a new 240,000 SF Consolidated Forensic Laboratory is going up. Stay tuned for a pre-offer conference that the District will host later this month. Proposals are due on August 15.