WILMINGTON, DE—Office investment sales activity in this state is clearly heating up, if word on the street about several transactions is any indication. These deals follow last month's $61.5 million trade of the Bellevue Park Corporate Center, acquired by The Buccini/Pollin Group.

First, let's start with the deal that we have confirmed: Rockford King, an affiliate of a Delaware-based real estate investment fund, sold the 5,776-square-foot office building located at 1314 N. King St., and the adjacent, nearly half-acre parking lot at 1320 N. King St., for undisclosed prices to separate buyers.

WG&S LLP purchased the office building and has already occupied it. Walnut Street Parking Inc. purchased the parking lot as an investment. Rockford King had purchased the combined properties from a bank and legally sub-divided the two assets.

Patterson-Woods Commercial Properties/CORFAC International J. Gregory Ellis represented Rockford King LLC in the market-rate sale.

Meanwhile there are two sales pending that, if they were to close, would represent significant transactions for the market.

Christina Centre I & III, a 632,797-square foot office building located at 201-301 N Walnut St., here, is being acquired, according to a source, by JP Morgan Chase from the  Beacon Capital Partners-Brandywine Realty Trust JV. The source says the purchase price for the two building, 18-story properties is $87 million, or $137,000 per square foot.

JP Morgan Chase is the reputed buyer in a second pending transaction in the same market: the sale lease back of AstraZeneca Pharmaceuticals' headquarters at 1800 Concord Pike. So far, we have been unable to learn the purchase price for the 357,551-square foot, two-building complex.