EDINA, MINN. — CBRE has arranged $11 million in refinancing for Grandview Square, a 98,561-square-foot office building in Edina. Billy Mork, Joel Torborg and Mike Vannelli of CBRE secured a five-year, fixed-rate loan on behalf of Capital Partners, a Minnesota-based commercial real estate investment and management firm. A life insurance company provided the loan, which features interest-only payments for the full term and a 5.89 percent interest rate. Built in 2001 and renovated in 2025, the property offers surface and underground heated parking, a fitness center, golf simulator, shared conference rooms, a tenant lounge and outdoor patio. The three-story building is fully leased to 16 tenants.
AUSTIN, TEXAS — An affiliate of Houston-based Hines has purchased 405 Colorado, a 206,000-square-foot office building in downtown Austin. The building was fully leased at the time of sale to tenants such as JPMorgan Chase, Bain & Co. and AllianceBernstein. Suites feature flexible configurations, and the building’s signature amenity is a 14th-floor sky lounge with conference rooms and a café. According to the Austin Business Journal, Brandywine Realty Trust sold the building for $151 million.
NORFOLK, VA. — Newmark has negotiated the $26 million sale of 150 West Main Street, a 233,772-square-foot trophy office tower located in downtown Norfolk’s Waterside District. Kawa Capital Management was the buyer. Mark Williford, Will Bradley and Evan Wells of Newmark represented the seller, Gate Petroleum Co., in the transaction. Constructed in 2002, the 21-story tower’s onsite amenities include 24-hour security service, attached parking, a 2,000-square-foot multi-purpose meeting room, a full-service restaurant and a ground-level bank.
GERMANTOWN, TENN. — Marcus & Millichap has brokered the $24.5 million sale of Conrad Pearson Clinic, a 33,777-square-foot medical office building located in Germantown, roughly 21 miles southeast of Memphis. Spencer Koch and Chris Biuso of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity. Jody McKibben served as Marcus & Millichap’s broker of record in Tennessee in the transaction. Built in 2002 at 1325 Wolf Park Drive, Conrad Pearson Clinic and its integrated affiliate, the Wolf River Surgery Center, fully occupied the property at the time of sale, according to LoopNet Inc. The property is situated near Methodist Le Bonheur Germantown Hospital, Saint Francis Medical Partners Germantown and Baptist Memorial Rehabilitation Hospital.
WINDSOR, CONN. — Metro Boston-based developer Condyne Capital Partners has received approval for an office-to-residential conversion project in Windsor, located north of Hartford. Designed by Maugel Destefano Architects, the project will transform the 99,480-square-foot building at 500 Day Hill Road, which formerly housed the operations of commercial printing and packaging company Konica Minolta, into a 300-unit apartment community. The new apartment community will offer studio, one- and two-bedroom units. Amenities will include a pool, fitness center, pickleball court, multi-purpose court, dog park and outdoor grilling and dining areas. Construction is scheduled to begin this fall.
NEW YORK CITY — A partnership between two locally based owner-operators, Olmstead Properties and Vertex, has purchased 19 West 44th Street, a 302,000-square-foot office building in Midtown Manhattan. The 18-story building was 79 percent leased at the time of sale and recently received capital improvements to building systems, common areas and prebuilt suites. Tenants include Yipit, HARMAN International, Robert Derector, Corporate Service Corp., EOS Products and Bitwise. Will Silverman of Eastdil Secured Savills represented the seller, Savanna, in the transaction. Derby Lane Capital provided acquisition financing for the deal.
NEW YORK CITY — Ameriprise Financial Inc. has signed a 37,704-square-foot office lease renewal in Lower Manhattan. The financial advisory firm will keep its space on the 78th floor of One World Trade Center, where it has been a tenant since 2016, for another decade. Josh Kurlioff, Drew Braver, Heather Thomas and Nicole Estevez of Cushman & Wakefield represented the tenant in the lease negotiations. David Falk, Peter Shimkin, Hal Stein, Nathan Kropp and Paige Raisides of Newmark, along with internal agents Eric Engelhardt, Karen Rose and Sayo Kamara, represented the landlord, The Durst Organization, which developed the property in partnership with the Port Authority of New York & New Jersey.
Orlando’s office market is experiencing a notable resurgence, driven by strong sales volume across both owner-user transactions and institutional investment activity. This surge is helping push vacancies lower, tightening the leasing market and reinforcing investor confidence in the metro’s long-term fundamentals. Orlando is moving decisively past its post-pandemic softness and into a new phase of growth. Lease rates remained largely stable, with the market average sitting at $28.36 per square foot in the second quarter. Trophy space, meanwhile, commands average asking rents of $36.52 per square foot, a $4.20 premium over Class A product. However, several indicators suggest that stability may soon give way to upward movement. Recent owner-user sales activity, combined with high-profile leasing commitments such as TMRW Sports, the golf-technology venture backed by Tiger Woods and Rory McIlroy, signing for 40,000 square feet in downtown Orlando, points to tightening conditions and growing demand for premium space. Landlords with quality assets in well-located submarkets are increasingly positioned to push rents higher in the coming quarters. That growth is underpinned by strong population and employment gains, with particularly robust expansion in healthcare, technology and professional services. Health and education services posted a 4.5 percent increase in employment over the previous …
NEW YORK CITY — Regional brokerage firm Atlantic Capital Partners (ACP) has negotiated the $31 million sale of 893 Broadway, a 25,442-square-foot office and retail building in Manhattan’s Flatiron District. The five-story building was fully leased at the time of sale. Mattress retailer Saatva occupies the lower-level and ground-floor retail spaces, and Chief, a private network for female executives, occupies the office space on floors two through five. Justin Smith, Chris Peterson, Sam Koonce and Danielle Turpin of ACP represented the undisclosed seller in the transaction.
RICHARDSON, TEXAS — Newmark has negotiated the sale of Tower 2600, a 229,307-square-foot office building located in the northeastern Dallas suburb of Richardson. The nine-story building was 92 percent leased at the time of sale and offers amenities such as a fitness center, conference facilities, tenant lounge and grab-and-go food service. Gary Carr, Robert Hill, Chris Murphy and Austin Sheahan of Newmark represented the seller, Development Ventures Group, in the transaction. The buyer was Harkinson Investment Group.
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