Other News in Brief: Jones Lang LaSalle Completes $33M Burbank Office Sale, Chris Browne to Head CBRE's Global Facilities Management Group, Sperry Van Ness Expands into the Tarheel State, HFF Arranges $65M Loan for Hotel Redevelopment in Boston, Hines and General Electric Capital JV on Marin Technology Center, Archstone-Smith Completes $1.1B Purchase, Q2 Shows Strong Office Market Growth

Jones Lang LaSalle Completes $33M Burbank Office Sale
On behalf of Ryanco Partners, Jones Lang LaSalle has completed a $33 million sale to Behringer Harvard Operating Partnership I LP. The 14-year-old Buena Vista Plaza (pictured), in Burbank, Calif., is a seven-story, 115,130 square foot office property fully occupied by a Fortune 500 company.

Chris Browne to Head CBRE's Global Facilities Management Group
Returning to CB Richard Ellis Inc., Chris Browne will serve as senior managing director and global head of the company's Facilities Management department, CBRE announced today. Previously, Browne was a managing director of facilities management at Jones Lang LaSalle Inc., for the Northeast region. In the 1990's, Browne had worked for CBRE as an account executive.

Sperry Van Ness Expands Into North Carolina
Continuing its rapid expansion, Sperry Van Ness now has a senior advisor in Charlotte, N.C. Robert Podewils has joined the brokerage firm and will maintain the Charlotte Sperry Van Ness/Lighthouse Commercial Realty office. Podewils previously worked for a retail development firm in the city. In July, Sperry Van Ness added two more senior advisors, expanding its presence into Philadelphia and the Pacific Northwest.

HFF Arranges $65M Loan for Boston Hotel Redevelopment
Holiday Fenoglio Fowler L.P. has secured a $65 million construction loan through Deutsche Bank Mortgage Capital L.L.C. on behalf of a joint venture between Carpenter & Company Inc. and Multi-Hotel Partners. The partnership is redeveloping a 150-year-old jail along Boston's Charles River into a 308-room hotel. Construction began in May 2005 and completion is slated for Fall 2007.

Hines and General Electric Capital JV on Marin Technology Center
A joint venture between Hines and General Electric Capital Corporation has acquired Marin Technology Center in San Rafael, Calif., from AMG Realty Partners. Hines intends to renovate the property, which consists of 455,561 square feet spread between two, three-story office buildings. The buildings are currently 50 percent leased by tenants GE Capital Assurance, Health Net, Inc., THX and Paul Financial. The sale price was not disclosed.

Archstone-Smith Completes $1.1B Purchase
Archstone-Smith Trust has completed the $1.1 billion acquisition of 25 apartment communities from Oakwood Worldwide, the company announced yesterday. The 8,228 units in the complexes are part of Archstone-Smith's plan to purchase 36 properties by next year, mostly in California. Archstone-Smith will manage half of the communities under its brand name.

Q2 Shows Strong Office Market Growth
The office market continued to gain momentum during the second quarter this year, according to a Colliers International report. Absorption totaled 20.5 million square feet, an increase of 11.8 million from the first quarter this year. Top absorption markets from April to June included Midtown Manhattan, with 1.1 million square feet absorbed, Boston, with 551,000 square feet, and Houston, with 782,000 square feet.