Cushman & Wakefield negotiates sale of Jersey City building Representing the seller, Cushman & Wakefield of New Jersey's Financial Services Group negotiated the sale of 30 Montgomery Street, a 300,000 sq. ft. office building in Jersey City, N.J. The buyers, Denholtz Associates and The Zaro Group, acquired the 15-story, 95%-leased building from the Ukrainian National Association for $21.2 million.
C&W, which has served as leasing agent for the property since 1990, will continue to handle the marketing under the new ownership.
ICG to renovate, expand recent Washington, D.C., acquisition With plans to renovate and expand the project, Infrastructure Capital Group (ICG) has purchased 901 F Street NW, the former headquarters of the Grand Lodge of the Masons located in the Washington, D.C., East End area. ICG and Karchem Properties Inc. are co-developing the property, which will include office and retail space totaling 130,000 sq. ft. once completed. Delivery is planned for 1999.
Carter named facility manager for Georgia Power headquarters Chosen to provide operations, facility management and space utilization services, Atlanta-based Carter & Associates*Oncor has been named facility manager of Georgia Power's corporate headquarters, an 850,000 sq. ft. building located at 333 Piedmont Ave. in downtown Atlanta. This new assignment brings the property management services firm's total management portfolio to 19.6 million sq. ft.
LaSalle sells two U.S. properties, buys two Paris buildings In three separate transactions, Chicago-based LaSalle Partners has sold Parkway Center in Marietta, Ga., and 100 East Pratt Street in Baltimore, and it purchased 11 Rue de Rouvray Building in Neuilly-sur-Seine from Swedish SE Banken's Paris Development Fund and the 15 Rue de Galvani Building near Paris' CBD from a Japanese property firm.
Considered the largest office building in downtown Baltimore, 100 East Pratt Street is a 28-story, 647,141 sq. ft. property and was sold to Boston Properties Inc. LaSalle Partners Investment Banking Group and Colliers Pinkard sold the property on behalf of 100 East Pratt Street Limited Partnership and International Business Machines Corp.
Parkway Center, which consists of two Class-A, 12-story buildings totaling 454,155 sq. ft., was sold by LaSalle Advisors, on behalf of certain of its institutional investors. The buildings are currently 93% occupied.
And on the international front, LaSalle Advisors, with LaSalle Partners France, completed the purchase of the two French office buildings for Francilienne S.C.A., a new entity formed to acquire the properties. Both properties will be managed by Lafayette Parternaires, a joint venture between LaSalle and Societe Generale.
Northco completes sale of Minneapolis landmark Representing The Taylor Simpson Group's second major investment in downtown Minneapolis, Edina, Minn.-based Northco Real Estate Services has sold the Soo Line Building to a limited liability partnership affiliated with both The Taylor Simpson Group of New York and Northco. The Soo Line Building is a 220,770 sq. ft., 90%-leased office building located in the heart of Minneapolis' financial district.
TrizecHahn reports $119 million purchase in Dallas In a 50/50 partnership with Crescent Real Estate Equities, Toronto-based TrizecHahn Corp. has acquired a 50% interest in Bank One Center, a 60-story, 1.5 million sq. ft. Class-A office tower in Dallas' CBD, for US$119 million. The companies have formed a joint venture entity to manage the property.
Port Authority announces year's largest lease at World Trade Center Consolidating several of its Midtown offices, Aon Risk Services Inc. of New York has agreed to rent more than seven full floors for 15 years, totaling approximately 396,000 sq. ft., in Two World Trade Center. The Port Authority of New York & New Jersey says this is the second-largest lease in the downtown Manhattan market this year and the largest in the World Trade Center. Insignia/ESG, New York, represented Aon in the transaction.