PHOENIX — Cushman & Wakefield has arranged the sale of Fairmount Place, an 87,030-square-foot office property in Tucson. First & Center LLC sold the asset to Albuquerque SNF LLC for $11.5 million. Located at 4001 N. 3rd St., the four-story building is divided into 31 suites. At the time of sale, the property was 92 percent occupied by multiple tenants. Eric Wichterman and Chris Toci of Cushman & Wakefield represented the seller in the deal.
SAN GABRIEL, CALIF. — Chinatown Service Center, a nonprofit, has purchased an office building located at 526 W. Las Tunas Drive in San Gabriel from 211 LA for $8.2 million. Mark Shaffer, Anthony DeLorenzo and Dylan Rutigliano of CBRE represented the seller, while Natalie Bazarevitsch and Jackie Benavidez of CBRE represented the buyer in the deal. Originally developed in 1955 as a regional bank branch, the two-story, elevator-served building features 25,320 square feet of office space, as well as a basement and drive-around surface parking. The building has been consistently maintained and upgraded, including a new roof, a backup diesel generator, a three-stop hydraulic elevator installed in 2021 and lighting largely retrofitted to LED.
FRISCO, TEXAS — HALL Group will develop a 200,000-square-foot office building at its flagship campus in Frisco, located north of Dallas, that is in the midst of a $7 billion redevelopment. Terraces Hall Park will be a 10-story building with wellness-themed amenities, including a fitness center, as well as a 1,300-space parking garage. The Beck Group is the architect and general contractor for the project, construction of which is scheduled to begin this month and to be complete in 2028. HALL Group is simultaneously working with the City of Frisco on a $14 million expansion of Kaleidoscope Park that will deliver additional landscaped areas, an enhanced performance lawn, water features and an outdoor video screen and performance stage.
WORCESTER, MASS. — Washington Trust Co. has provided $47.6 million in financing for an office-to-residential conversion project in Worcester. The project will convert the former Fallon Community Health Plan headquarters at 10 Chestnut St. into a 198-unit, market-rate apartment complex. Units will come in studio, one- and two-bedroom floor plans, and amenities will include a pool, fitness center and a rooftop deck. Construction began last year and is expected to be complete this fall. MassDevelopment also provided $3.6 million in financing for the project.
NEW YORK CITY — Trexquant has signed a 23,000-square-foot office lease in Midtown Manhattan. The quantitative finance firm is taking the entire 10th floor at 360 Park Avenue South, a 450,000-square-foot building. Peter Turchin, Gregg Rothkin, Hayden Pascal, Arkady Smolyansky, Ross Zimbalist and Trevor Larkin of CBRE, along with internal agents Andrew Levin and Will Stark, represented the landlord, BXP, in the lease negotiations.
SANDY SPRINGS, GA. — Omnissa, a Mountain View, Calif.-based enterprise software company, has signed on as the first major tenant at The Barfield, a two-building, 236,191-square-foot office complex in the Atlanta suburb of Sandy Springs. Beginning next summer, Omnissa will occupy the entire 56,202-square-foot third floor at the former IBM campus. Drawbridge Realty has owned the campus since 2015. Originally a build‑to‑suit development for an IBM subsidiary, the property has never been available for lease since it was developed. The Barfield is undergoing a $10 million repositioning program. Earlier this year, Drawbridge completed the first phase, which included Wi‑Fi‑enabled terrace lounges, outdoor basketball and pickleball courts, a bee sanctuary and a redesigned entry plaza with collaborative seating. The design team at ASD|Sky has created a second phase of interior improvements that features a grand staircase connecting the lobby to a café, social lounge, gaming area and a fitness center, as well as a yoga studio, locker rooms and showers. Along with a connected six-story parking garage, the campus also includes a 50,400-square-foot building leased to Children’s Healthcare of Atlanta and Aspen University. Jeff Bellamy of JLL represented Drawbridge Realty in the lease negotiations. Nima Ghomghani and Paul Holmes of CBRE represented …
CHICAGO — Clayco, CRG, The Prime Group Inc. and TP Management Co. (TPM) have unveiled plans to complete a $25 million renovation of the historic Jewelers Building at 35 E. Wacker Drive in Chicago. The project will introduce a fine dining restaurant, lobby and rooftop bars, expanded fitness and wellness amenities and a reimagined conference, event and coworking space to the office property. Planned renovations will honor the building’s Beaux-Arts character. Roanoke Hospitality Group, an affiliate of The Prime Group, will operate and manage the new food-and-beverage offerings, which will be open to the public. Construction will begin in fall 2026, with the new restaurant and bar concepts slated to open in 2027. TPM is an investor in the project and will continue to participate in the ongoing management and long-term enhancement of the asset while cording capital support for future improvement and repositioning initiatives. Designed by Joachim Giaver and Frederick Dinkelberg, the Jewelers Building is recognized by the National Register of Historic Places as part of the Michigan-Wacker Historic District. Upon completion in 1927, the 40-story building was the world’s tallest outside of New York City. It was designated a Chicago landmark in 1994.
PARSIPPANY, N.J. — Colliers has brokered the $5.2 million sale of a vacant office building in the Northern New Jersey community of Parsippany. Automotive insurance company DOWC previously occupied the three-story building at 199 Pomeroy Road, which according to LoopNet Inc. was constructed in 1985 and renovated last year. Jacklene Chesler, Patrick Norris and Brittany Leventoff of Colliers represented the buyer and seller, both of which requested anonymity, in the transaction.
NEW YORK CITY — Hunter Point Capital has signed a 46,000-square-foot office lease in Midtown Manhattan. The independent investment firm is taking the entire 15th and 16th floors at 360 Park Avenue South, a 450,000-square-foot building. Peter Turchin, Gregg Rothkin, Hayden Pascal, Arkady Smolyansky, Ross Zimbalist and Trevor Larkin of CBRE, along with internal agents Andrew Levin and Will Stark, represented the landlord, BXP, in the lease negotiations.
ARLINGTON, VA. — JBG Smith and general contractor Davis Construction have begun the conversion of 2200 Crystal Drive, an 11-story office building in Arlington spanning 315,000 square feet. Built in 1968 and renovated in 2006, the office building is situated in National Landing, a neighborhood in metropolitan Washington, D.C., that is anchored by Amazon’s HQ2 office. JBG Smith, along with joint venture equity partner Declaration Partners, is repositioning the office building into a 195-unit multifamily community. BNY is providing an undisclosed amount of construction financing for the project. JBG Smith recently sold an adjacent office building, 2100 Crystal Drive, that is being converted to a dual-brand hotel. Additionally, the Arlington County Board recently approved JBG Smith’s conversion of two more office buildings, 1800 and 1901 South Bell Street, into more than 300 residential units.
