Tuesday, May 7, 2024
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Office

731-Lexington-Avenue-Manhattan
Leasing ActivityNew YorkNortheastOffice

Bloomberg Signs 946,815 SF Office Lease Extension at 731 Lexington Avenue in Manhattan

by Taylor Williams

NEW YORK CITY — Bloomberg LP has signed a 946,815-square-foot office lease extension at 731 Lexington Avenue in Manhattan. The extension term is 11 years, and the business journalism organization will now keep its headquarters at the 56-story, 1.3 million-square-foot building through 2040. Developed by Vornado Realty Trust (NYSE: VNO) and owned by its affiliate, publicly traded REIT Alexander’s Inc., 731 Lexington Avenue also houses 250,000 square feet of retail and restaurant space and 105 condos. Bloomberg’s physical footprint in New York spans more than 2 million square feet across three buildings.

Continue Reading
FacebookTwitterLinkedinEmail
CaliforniaLoansOfficeRetailWestern

PSRS Arranges $7M Loan for Refinancing of Retail, Office Building in Pasadena, California

by Amy Works

PASADENA, CALIF. — Locally based financial intermediary PSRS has arranged a $7 million loan for the refinancing of The Superior Building, a 43,916-square-foot historic retail property in Pasadena. Built in 1896 and renovated in 1990, The Superior Building features ground-floor retail space and office suites on the upper two floors. Michael Tanner and Tony Messiah of PSRS arranged the financing for the borrower, Edgewood Realty Partners. The direct lender was not disclosed.

Continue Reading
FacebookTwitterLinkedinEmail
The-Bridge-at-Collegeville
DevelopmentNortheastOfficePennsylvania

DWREI, GreenBarn Begin 1.8 MSF Office Redevelopment Project Near Philadelphia

by Taylor Williams

COLLEGEVILLE, PA. — A partnership between David Werner Real Estate Investments (DWREI) and GreenBarn Investment Group has begun the redevelopment of The Bridge at Collegeville, a 14-building, 1.8 million-square-foot office campus located about 20 miles northwest of Philadelphia. The development team, which includes architect EwingCole and leasing agent Cushman & Wakefield, plans to renovate the existing office space on the 340-acre campus and to add another 1.4 million square feet of office, life sciences and manufacturing space. The redevelopment will also add amenities a fitness center, golf simulator, pickleball courts and a food truck plaza. The partnership purchased the property in August 2023 from Pfizer, which remains a tenant. In addition, chemical manufacturer Dow recently signed a long-term lease extension at the campus. A timeline for completion was not disclosed.

Continue Reading
FacebookTwitterLinkedinEmail
410-17th-St-Denver-CO
AcquisitionsColoradoOfficeWestern

Cress Capital Acquires 24-Story Office Building in Downtown Denver

by Amy Works

DENVER — Cress Capital has acquired The 410, a 24-story office building in downtown Denver, for an undisclosed price. Situated at 410 17th St., the property consists of 440,000 square feet of office space and a detached eight-story parking structure. The building underwent a major renovation in 2021 and offers amenities such as a fitness center, conference and training facilities, an outdoor tenant lounge and a coffee bar. Cress, in collaboration with Denver-based E2M Ventures, acquired the loan on the property earlier this year and subsequently negotiated a deed-in-lieu of foreclosure with the prior owner.

Continue Reading
FacebookTwitterLinkedinEmail
6100-Stevenson-Blvd-Fremont-CA
AcquisitionsCaliforniaOfficeWestern

Northmarq Brokers $23.4M Sale of Three Office, Industrial Buildings in Fremont, California

by Amy Works

FREMONT, CALIF. — Northmarq has brokered the $23.4 million sale of three office and industrial buildings that are located within Stevenson Business Park in Fremont. Built in 1999 and renovated in 2021, the buildings total 116,780 square feet and formerly served as the regional office for the seller, The Men’s Warehouse. Chase Dominguez of Northmarq represented The Men’s Warehouse in the deal. The buyer was a undisclosed, California-based private investor.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsDistrict of ColumbiaOfficeSoutheast

Taicoon Property Partners Acquires 152,000 SF Office Building in D.C.

by John Nelson

WASHINGTON, D.C. — Taicoon Property Partners has acquired 1899 L, a 152,000-square-foot office building situated along Restaurant Row in Washington, D.C. The property was renovated in 2022, with improvements to the main lobby, elevator cabs, HVAC, conference center, fitness center and bike room. The buyer plans to implement further renovations, including an updated façade, enhanced restrooms and common areas, redesigned retail storefronts and modernization of the amenities and infrastructure. Charlie Smiroldo and Matt Pacinelli of Stream Realty Partners represented Taicoon in the transaction. Stream also serves as the leasing agent for the building, which features available suites ranging from 2,500 to 13,000 square feet. Collins Ege and Bradley Allen of Eastdil Secured represented the undisclosed seller. The sales price was also not disclosed.

Continue Reading
FacebookTwitterLinkedinEmail
Leasing ActivityOfficeTexas

Law Firm Signs 28,000 SF Office Lease at The Republic in Downtown Austin

by Taylor Williams

AUSTIN, TEXAS — Los Angeles-based law firm O’Melveny & Myers LLP has signed a 28,000-square-foot office lease at The Republic, a 48-story building that is under construction in downtown Austin. The Republic is now more than 50 percent preleased and is slated for a summer 2025 completion. Jeff Welch, John Gump and Jay Austin of CBRE represented the tenant in the lease negotiations. Mark Miller and Seth Johnston of Lincoln Property Co., which owns the property in partnership with Phoenix Property Co. and DivcoWest, represented the landlord.

Continue Reading
FacebookTwitterLinkedinEmail
Leasing ActivityOfficeTexas

Arcadis Opens 19,000 SF Office in Downtown Dallas

by Taylor Williams

DALLAS — Global design firm Arcadis has opened a 19,000-square-foot office at 300 S. Pearl Expressway in downtown Dallas. The space is located on the sixth floor of the mixed-use building and features 120 open-office workstations, two conference areas and a “contemplation room” to support mental health and religious observances. Todd Interests owns the building, which consists of 336 apartments, 200,000 square feet of office space and 25,000 square feet of retail space. Cushman & Wakefield negotiated the lease.

Continue Reading
FacebookTwitterLinkedinEmail
Leasing ActivityNorth CarolinaOfficeSoutheast

Stream Realty Executes 70,000 SF of Leases at The Grove Office Park in Charlotte

by John Nelson

CHARLOTTE, N.C. — Stream Realty Partners has executed 70,000 square feet of leases at The Grove, a four-building office park located at 8520-8615 Cliff Cameron Drive in Charlotte, over the past 18 months. The landlord, B Group Capital Management, recently completed extensive renovations at the 260,000-square-foot property, which it purchased in fall 2022. These include the implementation of Google Fiber and physical upgrades to common areas and a new spec office suite. Grant Keyes and Holden Brayboy of Stream Realty represented the landlord in the lease negotiations. The deals include leases and/or lease extensions with Alliance Health, Bridge to Achievement, Autism Living Experience and Keller Williams.

Continue Reading
FacebookTwitterLinkedinEmail
Leasing ActivityOfficeTexas

Centersquare Signs 30,342 SF Office Headquarters Sublease at Cypress Waters in Coppell, Texas

by Taylor Williams

COPPELL, TEXAS — Centersquare, a provider of colocation, connectivity and cloud infrastructure solutions, has signed a 30,342-square-foot office headquarters sublease at Cypress Waters in Coppell, located in the northern-central part of the metroplex. The space at 3100 Olympus Blvd. can support about 150 employees. Cribb Altman and Curt Holcomb of JLL represented Centersquare in the lease negotiations. Steve Wentz, Travis Boothe and Spencer Oster of Cushman & Wakefield represented the undisclosed sublandlord. Billingsley Co. owns Cypress Waters.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts