SAN ANTONIO — Locally based owner-operator Worth & Associates has acquired The Commons at Concord Park, a 108,116-square-foot office complex in San Antonio’s Stone Oak neighborhood. The property comprises four buildings with suites that range in size from 1,254 to 9,790 square feet. Todd Mills of Cushman & Wakefield represented the undisclosed seller in the transaction. Shawn Gulley represented Worth & Associates, which plans to make capital improvements to the property, on an internal basis.
BREA, CALIF. — The Whittier Comstock, a subsidiary of MW Investment and owned by Matt Waken, purchased Fairway Center II, an office property in Brea, from an undisclosed seller for $27.8 million. Anthony DeLorenzo, Sammy Cemo, Bryan Johnson and Jackson Marlow of CBRE represented the seller in the transaction. Shaun Moothart and Andrew Post of CBRE secured financing for the buyer. Located at 675 Placentia Ave., Fairway Center II offers 135,308 square feet of office space that was 70.5 percent leased at the time of sale. The County of Orange, Calif., occupies more than 61,000 square feet of the three-story building under a long-term lease. Situated on 7.8 acres, the asset also features 617 parking spaces in an onsite parking structure.
NEW YORK CITY — Walker & Dunlop (NYSE: WD) has arranged a $293 million loan for the refinancing of 40 Tenth Avenue, a 158,957-square-foot mixed-use building located in Manhattan. The property sits in the city’s Meatpacking District near Little Island, Hudson River Park and the Whitney Museum of American Art. 40 Tenth Avenue features 112,241 square feet of office space across floors three through 10, with 46,716 square feet of retail space situated on the first and second floors. Dustin Stolly, Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Sean Reimer, Jordan Casella and Stanley Cayre of Walker & Dunlop secured the fixed-rate, permanent loan through Corebridge Financial on behalf of the borrower, a joint venture between Aurora Capital and William Gottlieb Real Estate. “40 Tenth Avenue stands out in building quality, location and experience — all elements that differentiate a property for tenants,” says Stolly, senior managing director of the Capital Markets Institutional Advisory team at Walker & Dunlop. “The fully leased office component, institutional tenant roster and substantial outdoor space demonstrate the continued demand for high-touch, well-located workplaces in New York.” According to Walker & Dunlop, the Meatpacking District is one of Manhattan’s most supply-constrained office and retail submarkets, making physical expansion and new commercial ground-up …
HOUSTON — Jiffy Lube has signed a 28,000-square-foot office headquarters lease in West Houston. The automotive services retailer, which was recently sold by Shell Oil to Monomoy Capital Partners, is relocating from the Shell Woodcreek campus to the 327,040-square-foot Westway Plaza. Lucian Bukowski of Stream Realty Partners represented Jiffy Lube in the lease negotiations. Brad Beasley and Chip Colvill of Partners Real Estate represented the undisclosed landlord.
CHICAGO — Google has shared new design renderings for the Thompson Center’s atrium in Chicago. The company announced plans to buy the James R. Thompson Center building in 2022. Google has also teamed up with After School Matters to commission a student-designed art piece for the retail concourse. Artist Sanford Biggers has been selected to create a sculpture for the plaza that will honor the Loop’s history of public art. Conceptualized with Architecture Plus Information (A+I), Google is expanding the central opening beneath the 17-story atrium, constructing a cascading staircase integrated with terraced seating and retail offerings. The activated atrium and plaza will feature food, retail and space for seasonal events. The project is slated for completion in 2028. Google opened its Chicago office in 2000 and has grown its employee base in the city to more than 2,000 employees. Google also announced that it will provide $1 million in funding to A Better Chicago to support student attendance.
HOUSTON — Superior Energy Services has signed a 56,256-square-foot office headquarters lease in West Houston. The oilfield services company is relocating from 1001 Louisiana in downtown Houston to the 13-story, 225,024-square-foot building at 8020 Katy Freeway. David Guion and Lucian Bukowski of Stream Realty Partners represented Superior in the lease negotiations. The name and representative of the landlord were not disclosed. A timeline for occupancy was also not announced.
NEW YORK CITY — Fenwick & West has signed an 18,200-square-foot office lease expansion in Manhattan’s Flatiron District. The expanded space covers the entire 13th floor at 902 Broadway, and the law firm now occupies 72,800 square feet across four floors at the building, which was originally constructed in 1911. David Kleinhandler and Ken Rapp of CBRE represented Fenwick & West in the lease negotiations. The landlord, Koeppel Rosen, was self-represented.
VALENCIA, CALIF. — Strauss Investments has acquired Commons at Valencia, a two-building office campus in Valencia, from Harbor Associates for $32 million, or approximately $204 per square foot. Sean Sullivan of CBRE led the brokerage team, and Andy Bratt of Gantry arranged financing for the acquisition. Situated on 9 acres at 25124 and 25152 Springfield Court, Commons at Valencia features 157,000 square feet of Class A office space. Wells Fargo, New York Life Insurance Co., Edward Jones, Lennar, Amines, HASA and FivePoint are tenants at the campus, which was built in 2005.
CHICAGO — Coworking concept Switchyards has inked two leases for additional locations in Chicago. JLL brokered both deals. Sarah Silva and Nicole Becker of JLL represented Switchyards and landlord Range Group in two simultaneous transactions — 2440 N. Lincoln Ave. in Lincoln Park and 1046 W. Kinzie St. in Fulton Market. Both clubs are scheduled to open Monday, Oct. 26.
CARROLLTON, TEXAS — Locally based brokerage firm Summit RE has negotiated the sale of a 209,476-square-foot office building in the northern Dallas metro of Carrollton. According to LoopNet Inc., the building at 4101 International Parkway was constructed on 14.8 acres in 1998. Parker Tims and Luke Ledbetter of Summit brokered the deal. The buyer and seller were both Texas-based entities that requested anonymity.
