Property Types  Office
60,400SF Virginia Medical Office Trades
Jun 26, 2009

JAG Associates L.L.C. has acquired a seven-story medical office building in Alexandria, Va. The 60,400-square-foot property, dubbed Landmark Professional Building, is home to 30 tenants, with 90 percent overall occupancy. commercial real estate services company NorthMarq handled the $10.8 million off-market deal from its Bethesda, Md. Jim Kornick and Jerry Burg, both NorthMarq senior vice presidents - investment services, and Matt Clinebell, vice president - investment services, brokered the sale. Landmark Professional Building was built in 1970 and was last renovated in the late 1980s. New owner JAG Associates plans on further renovations to update the facility.

 
Recent Office Headlines
BOMA Chicago Initiates Country's First Office Building Smart Grid Program
Aug 07, 2009
The Building Owners and Managers Association of Chicago has launched an effort to develop the country's first commercial office building smart grid program, delivering a utility-scale, clean, virtual generator through implementation of smart grid technology in more than 260 commercial buildings in downtown Chicago. With the potential to provide as much as 200 megawatts of demand response capability, the program would lower costs and avoid the need to construct expensive new generation plants. It requires upgrading the buildings' electric metering infrastructure, with significant building-level upgrades. To help address the estimated $185.4 million program cost, the city's BOMA chapter filed an application for $92.7 million in matching funds from the U.S. Department of Energy's Smart Grid Investment Grant Program, which was formed under the recently passed American Reinvestment and Recovery Act.
Timberland Renews 246,000SF HQ Lease in New Hampshire
Aug 06, 2009
New England-based real estate firm Altid Enterprises L.L.C. has inked a 246,000-square-foot office lease renewal with apparel maker The Timberland Co., in Stratham, N.H.
SL Green Lands $145M for Refinancing of NYC Office High-Rise
Aug 06, 2009
Flying in the face of the still chilly credit market, SL Green Realty Corp. has managed to get its hands on a $145 million leasehold mortgage for the refinancing of the 1.2-million-square-foot office tower at 420 Lexington Ave. in Midtown Manhattan.
Vornado Secures $82.5M to Refinance Suburban D.C. Office Building
Aug 04, 2009
The chilly credit market apparently warmed up for Vornado Realty Trust, which just wrapped up the refinancing of its 442,000-square-foot office property just outside of Washington, D.C., in Arlington, Va., courtesy of an $82.5 million loan.
Phoenix-Area Medical Office Park Sold
Aug 04, 2009
Arrowhead Professional Park, a 40,000-square-foot medical office complex in Glendale, Ariz., has been sold to Jomike Realty Co.
 
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