Mid Atlantic Real Estate Journal — The Best of 2013 — March 28 - April 10, 2014 — 5C
www.marejournal.com
The LARGEST OFFICE SALE of 2013
Cushman & Wakefield 1100,1150&1200Merrill Lynch Dr. — 380,417 SF —
HFF Washington Harbour — 557,961 SF —
Mack-Cali Pennsylvania Portfolio — 1.7 MSF/27.2 ACRES —
Financing of one of Washington, DC’s most iconic and cel- ebrated commercial assets. Prominently located along the banks of the Potomac River in the heart of the Georgetown submarket, this award-winning Arthur Cotton Moore de- signed project consists of two freestanding class A towers totaling 557,961 s/f of best-in-class office/retail space with views of downtown Washington, DC and Northern VA. 96% leased to 26 tenants, the project greatly benefits from signifi- cantly limited near-term rollover, with 78% (435,000 s/f) of its rentable area leased to 11 tenants expiring in 2022 and beyond. The recent beneficiary of a substantial $50 million renovation, Washington Harbour also now boasts an entirely new retail and street-level experience complete with a new fountain capable of programmable light and water shows that transforms into the largest ice skating rink in Washing- ton, DC (12,000 s/f) during the winter months.
Broker(s): Andrew Merin, Vice Chairman; David Bernhaut, Vice Chairman; Gary Gabriel, Executive Vice President; Brian Whitmer, Senior Director; Grace Braverman, Associ- ate Director Commercial real estate services firm Cushman & Wake- field has completed the sale of 1100, 1150 & 1200 Merrill Lynch Drive, a 380,417 s/f mission critical, three-building Class A office complex located in the exclusive Merrill Lynch Hopewell Campus. The three-building complex is 100% leased by Merrill Lynch Pierce Fenner and Smith (“MLPFS”). The Cushman & Wakefield Metropolitan Area Capital Markets Group (CMG) team of Andrew Merin, Gary Gabriel, David Bernhaut, Brian Whitmer and Grace Braverman represented the seller, a partnership consisting of Fortress Investment Group, Sansome Pacific Properties, Normandy Real Estate Partners, and Skyline Pacific Proper- ties. The buyer was American Real Estate Partners.
A joint venture led by Keystone Property Group, a leading real estate developer, manager and investor of office and in- dustrial properties, purchased 15 institutional-quality com- mercial office properties and and three land parcels located in key suburban Philadelphia submarkets for approximately $233 million. The office properties included in the portfolio are located in key submarkets, several of which are situated along Pennsylvania’s Main Line.
NAI Emory Hill #13 The Circle — 14,567 SF —
NAI James Hanson 350-360 Mt Kemble Ave. — 229,000 SF —
NAI Summit 1550 Pond Rd — 145,000 SF —
NAI Emory Hill Lewes Sells #13 The Circle in Georgetown, DE Lewes, DE – The office building known as #13, The Circle in Georgetown, Delaware was sold to commercial real estate investor/developer “13 The Circle LLC” which was represented by NAI Emory Hill in Lewes. The building is a fully occupied 14,567-square- foot multi-tenanted office building which cur- rently houses Citizens Bank, The Public Defend- ers’ Office of Delaware, and U.S. Senator Tom Carper. The seller, Inland American CFG Portfolio, LLC, was represented by CBRE and the buyer was represented by Ann Bailey, CCIM, NAI Emory Hill.
John Crampsie and Matt Dorman of NAI Sum- mit recently represented the owner in the sale of their office building to 1550 Pond Road L.P. located at 1550 Pond Road in Allentown, PA. This 145,000 s/f office building is also known as Winchester Plaza. Matt Dorman also assisted the owner in the six year lease transaction with the nationally known payroll company, Paychex. They will be utiliz- ing 18,000 sf of office space at 1550 Pond Road in Allentown, PA.
Greg James, Hal Messer, Josh Levering, Art Hixon and Barry Mayer. Sale of two office buildings. NAI Hanson sold 350 & 360 Mt. Kemble Avenue, a 229,500-square-foot, Class A of- fice complex in Morristown, NJ. A joint venture of Onyx Equities, LLC and Artemis Real Estate Partners acquired the property. Situated on 38 acres, inclusive of a three-acre pond, Mount Kemble Corporate Center is located within five minutes of Morristown Green, Morris County Court House and the Morristown train station, as well as nu- merous hotels and restaurants. The complex’s location provides tenants with easy access to routes 287, 24/78, 202 and other major New Jersey highways.
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