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WASHINGTON, DC-The historic Army and Navy Club Building sells for $37.4 million to Chicago's Equity Office Properties Trust. Formerly the property of Dutch Metal Workers Pension Fund, the 100% leased, 170,000-sf structure is home to the 117-year-old club, as well as business tenants.
IRVING, TX-Archon Group's 100,000-sf headquarters renewal at 600 Las Colinas Blvd. pushes the 510,000-sf asset's sales team into action. The Dallas area has three trophies on the open market and two under contract or close to it.
SUGAR LAND, TX-Mission Equities of Texas secures permanent financing through Ohio National Life Insurance Co. of Cincinnati, thanks to the efforts of a loan originator with Houston's Live Oak Capital. The office building is 95% occupied.
WASHINGTON, DC-The National Association of Realtors announces its plan to construct its own $45 million headquarters on a parcel of land just blocks away from the Capitol. Upon its projected completion in 2004, NAR will occupy 33,000 sf of the 93,000-sf building, leaving the rest open for lease.
NEW YORK CITY-Financial proxy solicitation company D.F. King commits to an 11-year, 26,000 sf lease at 48 Wall St. The signing brings occupancy at the 34-story office tower to 79%.
WEST HOLLYWOOD, CA-The three-story building is located at 8335 Sunset Blvd. The new owner plans to refurbish the structure. Brokers on the deal say the property drew six offers in excess of the $2.6 million asking price.
LONDON-Southside Capital--a joint venture between Taylor Woodrow, Kilmartin Property Group and Bank of Scotland--has lodged a planning application for its Pound 400 million ($580 million) redevelopment of the Royal Infirmary site in Edinburgh.
BETHESDA, MD-The Food and Drug Administration leases the 60,000-sf Montrose Metro Two building all for itself. The Guardian Realty development will be completed this summer and FDA staff is slated to occupy the four-story property in December.
DENVER-The consolidation of the Rocky Mountain News and Denver Post under one roof could result in the largest Downtown office lease in about a decade. Options include the new Legacy Plaza or Denver Post Tower, which is owned by Equity Office Properties Trust.
MIAMI-Metropolitan Life Insurance Co. of New York sold the three-story, 69,708-sf, 87%-leased Brandywine Center I office/restaurant complex in West Palm Beach, FL for $7.04 million or $100.57 per sf in March, as GlobeSt.com previously reported.