Office

Commonwealth Financial Network Signs 151,765 SF Office Lease in Waltham, Massachusetts

by Taylor Williams January 22, 2025

WALTHAM, MASS. — Commonwealth Financial Network has signed a 151,765-square-foot office lease in Waltham, a western suburb of Boston. The provider of comprehensive services to the financial advisory community is taking space at 275 Wyman Street, a five-story, 300,000-square-foot building that is part of a larger 2.2 million-square-foot campus. CBRE represented the landlord, Hobbs Brook Real Estate, in the lease negotiations. Newmark represented the tenant, which plans to take occupancy of its new space in the first quarter of 2026.

January 22, 2025

Acquisitions Office Texas

Real Capital Solutions Buys North Dallas Office Building for $66M

by Taylor Williams January 21, 2025

DALLAS — Colorado-based investment firm Real Capital Solutions has purchased Tower at Park Lane, a 509,818-square-foot office building in North Dallas, for $66 million. The 20-story building, which includes a six-story attached parking garage, is located at 8750 N. Central Expressway and is home to tenants such Texas A&M University—Commerce, Match.com and Topgolf. Russell Ingrum and Patrick Benoist with CBRE brokered the deal. The seller was not disclosed. The deal marks the first Dallas office acquisition for Real Capital Solutions, which plans to invest about $13 million in capital improvements to the building, including upgrades to the lobby and fitness center and the addition of speculative suites.

January 21, 2025

Leasing Activity Office Texas

ECR Negotiates 20,122 SF Office Lease in Southeast Austin

by Taylor Williams January 21, 2025

AUSTIN, TEXAS — Equitable Commercial Realty (ECR) has negotiated a 20,122-square-foot office lease in southeast Austin. The tenant, locally based technology infrastructure provider Fathom5, will occupy space at Bergstrom Tech Center, a 208,374-square-foot facility that was originally constructed in 1986 for defense contractor Lockheed Martin. ECR represented the landlord, Boyd Watterson Asset Management, in the lease negotiations. Colliers represented the tenant.

January 21, 2025

Leasing Activity New York Northeast Office

CBRE to Open 64,350 SF ‘Global Financial Headquarters’ Office in Manhattan

by Taylor Williams January 21, 2025

NEW YORK CITY — CBRE will open a 64,350-square-foot “global financial headquarters” office at 390 Park Avenue in Manhattan. The space spans six floors within the building, which is known locally as Lever House and recently underwent a $100 million capital improvement program. Coworking concept Industrious, which CBRE recently agreed to acquire, designed and will operate the space. Occupancy is slated for the fourth quarter. A partnership between WatermanClark and Brookfield Properties owns 390 Park Avenue.

January 21, 2025

Leasing Activity Office Texas

ECR Negotiates 30,884 SF Office Lease in Southeast Austin

by Taylor Williams January 20, 2025

AUSTIN, TEXAS — Equitable Commercial Realty (ECR) has negotiated a 30,884-square-foot office lease in southeast Austin. The tenant, Prometheus Security Group Global, will occupy space at Bergstrom Tech Center, a 208,374-square-foot facility that was originally constructed in 1986 for defense contractor Lockheed Martin. ECR represented the landlord, Boyd Watterson Asset Management, in the lease negotiations. Endeavor Real Estate Group represented the tenant.

January 20, 2025

Illinois Leasing Activity Midwest Office

ComPsych Corp. Signs 50,000 SF Headquarters Lease at Prudential Plaza in Chicago

by Kristin Harlow January 20, 2025

CHICAGO — ComPsych Corp. has signed a 50,000-square-foot headquarters lease at Prudential Plaza in Chicago. The mental health, well-being and absence management company will move from NBC Tower, where it occupies 152,000 square feet, to the seventh floor of One Pru in the first quarter of 2027. Wanxiang America Real Estate Group owns the property. Annie Kwasigroch and Dan Heckman of Riverside Investment & Development represented ownership in the lease, while Brian Means and Kellen Monti of JLL represented ComPsych. Prudential Plaza began a multimillion-dollar renovation and rebranding campaign in late 2023 that is ongoing. A glass-enclosed walkway connecting One and Two Pru will is expected to be completed in the next 60 days, enabling tenants to flow between the expanded 72,000-square-foot amenity space across the 11th floor. Other upgrades include a new 20,000-square-foot conferencing center, new coworking spaces, a fully staffed bar with grab-and-go coffee and food options and an entertainment suite with two golf simulators. Additional renovations are underway such as cold plunges and infrared saunas for the fitness center. Later this year, the outdoor deck will be expanded to include a new pickleball court and bar area overlooking Millennium Park. Completed in 1955 and renovated in 2014, …

January 20, 2025

District of Columbia Market Reports Office Southeast Southeast Market Reports

DC Office Market Presents an Opportunity for Reclassification and Innovation

by John Nelson January 20, 2025

The Washington, D.C., office market is facing challenging times, marked by unprecedented vacancy rates, dwindling demand and a significant supply-demand imbalance. Within these constraints, the flight to quality trend is reshaping how investors and lenders view office assets and should lead to an inventory reclassification. The divide between high-quality assets and lesser properties widens almost daily, creating a bifurcated market with fierce competition for quality space. Meanwhile, older, less desirable properties languish, accumulating vacancies as they fail to meet current occupier expectations. Without intervention, the less desirable properties will continue to drag down the market’s perception, obscuring the success of top-tier spaces with a headline vacancy rate. To contribute to the stabilization of the market, office participants must acknowledge this divide and assess distressed assets not as liabilities, but as opportunities to reset and reclassify properties based on realistic usage and demand. Lenders are central to this process as they control a substantial portion of distressed office stock. After years of extending loans to stave off foreclosure during uncertain times, many are now realizing that relief is unlikely to materialize organically. As a result, foreclosures are already up 121 percent in 2024 year-to-date over 2023 in Washington, D.C. On average, …

January 20, 2025

10-Liberty -Square-12-Post-Office-Square

Acquisitions Massachusetts Northeast Office

Edge Property Buys 49,275 SF Office Complex in Downtown Boston

by Taylor Williams January 17, 2025

BOSTON — Edge Property has purchased a 49,275-square-foot office complex in downtown Boston. Known as 10 Liberty Square and 12 Post Office Square, the property was 53 percent leased to 10 office and retail tenants at the time of sale. Robert Griffin, Edward Maher, Matthew Pullen, James Tribble, Samantha Hallowell and William Sleeper of Newmark represented the undisclosed seller in the transaction. The quintet also collaborated with Newmark’s Michael Byrne, Thomas Greeley, Devlin Man, Casey Griffin, Joseph Alvarado and Casey Valente to procure the buyer.

January 17, 2025

Leasing Activity New York Northeast Office

Impact.com Signs 18,364 SF Office Lease Renewal in Midtown Manhattan

by Taylor Williams January 17, 2025

NEW YORK CITY — Impact.com has signed an 18,364-square-foot office lease renewal in Midtown Manhattan. The digital marketing firm will continue to occupy the entire 10th floor at the 300,000-square-foot building at 136 Madison Ave. Alex Leopold of CBRE represented the tenant in the lease negotiations. Mac Roos of Colliers, along with internal agents Andrew Roos, Michael Cohen and Jessica Verdi, represented the landlord, Williams Equities.

January 17, 2025

Acquisitions Illinois Midwest Office

Greenstone Partners Negotiates $5.3M Sale of Creative Loft Office Building in Chicago

by Kristin Harlow January 17, 2025

CHICAGO — Greenstone Partners has negotiated the $5.3 million sale of a creative loft office building located at 405 W. Superior St. in Chicago’s River North neighborhood. The value-add property features a diverse tenant mix, including one retail tenant as well as full-floor occupants spanning a variety of technology, energy and marketing companies. There are also more than two dozen tenants operating under short-term coworking agreements with the Expansive shared office brand. The floor plates are 7,200 square feet. Jason St. John and Danny Spitz of Greenstone represented the seller, Expansive. Mitchell Loveman and Jimena Sayavedra of Newmark represented the East Coast-based buyer.

January 17, 2025

Newer Posts

Older Posts