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ROCKVILLE, MD-The largest office building in Montgomery County, the 1.7-million sf Parklawn Building, will get new owners as Carlton Equity Exchange secures $168 million in financing for an affiliate of Cammeby's International Ltd. According to county records, Parklawn has a 2004 assessed value of $98 million.
CHICAGO-While the Downtown market is holding steady, Jones Lang LaSalle Reports another uptick in suburban office vacancy, particularly in the O'Hare submarket, where third-quarter vacancy including sublease space is nearly 29%.
PORTLAND-The transaction completes a build-to-suit agreement inked in January and includes excess land that would allow for the building's eventual expansion to 455,000 sf.
MIAMI-The 11-story Dadeland Executive Center here consists of approximately 65,000 sf of class B office space and a four-story parking garage. Built in 1982, the building is about 88% occupied.
PERHAM, MN-The city will help find new a building, clean up the old site and finance operations, while Maud Borup Chocolates will depend on insurance and the railroad to cover most of its losses.
ATLANTA-After four years of searching for the ideal site, the locally based company spots a 30,000-sf, 15-year-old, former furniture warehouse building and snaps it up for $1.25 million, or about $41.67 per sf, a price that is below replacement cost, area brokers tell GlobeSt.com.
ASTON, PA-For an aggregate rental in excess of $700,000, the industrial services firm secures crane-served space for five years with multiple options. The park is within minutes of I-95, I-476 and the Philadelphia airport.