Flagler to develop Lakeside Five

Construction on the final office building at the Flagler Center in Jacksonville, Fla., will begin in June, the developer announced Friday, and a lease has already been signed for 80 percent of the facility.

The building, Lakeside Five, will feature five stories and 142,000 square feet of class A office space. The project's completion is expected in the second quarter of 2008.

Flagler has entered into a lease with insurer Kemper Auto and Home, which will relocate from Belfort Road and occupy approximately 113,600 square feet as its corporate headquarters.  more...

AMC Delancey sells Pennsylvania portfolio

Philadelphia-based AMC Delancey Group Inc. today announced it has sold its Heartland portfolio of 12 office, flex, warehouse and industrial buildings in Pennsylvania for approximately $30.5 million.

The portfolio consists of a 102,384-square-foot office/warehouse building in Middleton; a 57,245-square-foot office/warehouse in Mechanicsburg; the four-building, 134,817-square-foot Pennsylvania Business Center in Camp Hill; and the six-building, 271,756-square-foot Fairview Industrial Park in Lewisberry.  more...

Defense contractor lands in New Jersey

IMS Health Inc. sold its 130,000-square-foot office building in Totowa, N.J., for an undisclosed price.

The buyer, BAE Systems, had shared the class A space with the owner for several years and was looking to expand its operations. BAE plans to use the space for its New Jersey communication, navigation, identification and reconnaissance operations.

The two-story property, located at 100 Campus Road, includes amenities such as an on-site cafeteria, dry cleaners, ATM machine and security.  more...