SPRING, TEXAS — Marcus & Millichap has brokered the sale of Cypresswood Crossing, a 107,185-square-foot retail and office complex in the northern Houston suburb of Spring. Cypresswood Crossing consists of two buildings on a 5.6-acre site: a 90,818-square-foot multi-tenant building with both retail and office space and a 16,367-square-foot retail center. Chris Gainey and Philip Levy of Marcus & Millichap represented the seller, a Dallas-based private investment firm, in the transaction. Levy and Scott Abeel procured the buyer, a Houston-based private equity firm. Both parties requested anonymity.
NEW YORK CITY — Bushburg has received $78 million in financing for an office-to-residential conversion project in Manhattan. The locally based development and investment firm will use the proceeds to acquire the 21-story building at 100 William St. in the Financial District and fund predevelopment costs. Bushburg plans to convert the building into an approximately 400-unit complex in which 25 percent of the units will be reserved as affordable housing. Bridge lender Oak Funding and OakNorth Bank co-provided the financing. A tentative completion date was not disclosed.
COSTA MESA, CALIF. — Newmark has brokered the sale of 1901 Newport Boulevard, a three-story office property in Costa Mesa. A private, high-net-worth investor acquired the asset from an undisclosed seller for $24.4 million. Paul Jones, Ryan Plummer, Brandon White, Kevin Shannon and Ken White of Newmark represented the seller in the deal. Originally developed in 1985 and renovated in 2001, the 134,387-square-foot asset features a three-style atrium, custom marble flooring, open-air courtyards and seven fountains. Situated on 4 acres, the building is currently 85 percent occupied by a variety of tenants, including medical offices, traditional office users and retail.
CHICAGO — Carr Workplaces, a provider of flexible office solutions, has opened Carr Workplaces – The Loop at 20 North Clark Street in downtown Chicago. Located within walking distance of City Hall, government administration buildings, courthouses and public transportation, the workspace offers private offices, dedicated workstations, four meeting rooms, phone rooms and rentable lockers. Members also enjoy access to in-building amenities such as a fitness center, conference center, lounge and 24/7 building security.
INDIANA — International Workplace Group (IWG), a coworking platform with brands including Spaces and Regus, has unveiled plans to open eight flexible workspaces in Indiana. The expansion brings the company’s footprint to 30 locations across the state. IWG’s network now comprises thousands of locations in 120 countries. The Indiana locations will provide space for established firms and start-ups across a range of the state’s top industries, including business and finance operations, healthcare support, management and more. IWG’s Design Your Own Office service allows companies to tailor their space entirely to their requirements. The new Regus, HQ and Spaces facilities will include private offices, meeting rooms, coworking and creative spaces, and are slated to open in the first and second quarters of this year. One HQ facility in Merrillville has already opened. The other locations will be in Martinsville, Valparaiso, Fort Wayne, South Bend and Indianapolis. IWG predicts that 30 percent of all commercial real estate will be flexible workspace by 2030.
GREEN BAY, WIS. — NAI Pfefferle has brokered the sale of a 13,500-square-foot office building located at 3450 Packerland Drive in Green Bay. The sales price was not disclosed, but the asking price was $2.9 million. Adam Meyers of NAI Pfefferle brokered the sale.
CHARLOTTE, N.C. — Cousins Properties has purchased 300 South Tryon, a 638,000-square-foot office building in Uptown Charlotte, for $317.5 million. Barings, a global asset management firm and subsidiary of MassMutual, sold the 25-story tower to the Atlanta-based REIT. The Spectrum Cos. developed the office building in 2017 as the global headquarters for Barings. Cousins is funding the acquisition with proceeds from non-core asset sales, debt financing and the settlement of common shares. 300 South Tryon was fully leased at the time of sale with a weighted average lease term (WALT) of six years.
DEERFIELD BEACH, FLA. — Cushman & Wakefield has brokered the $34.5 million sale of two office buildings located at 602-668 and 776-858 S. Military Trail in Deerfield Beach, a city in South Florida’s Broward County. The single-story buildings are situated within Deerfield Corporate Park and total 157,510 square feet. The properties, dubbed Building 1 and Building 6, were 87.6 percent leased to 26 tenants at the time of sale. Scott O’Donnell, Greg Miller, Mike Ciadella and Miguel Alcivar of Cushman & Wakefield represented the seller, an affiliate of New Jersey-based Denholtz doing business as Denholtz Deerfield LLC, in the transaction. A private capital investment group purchased the two buildings. Deerfield Corporate Park was originally built in 1985 and renovated in 2017.
MIAMI — A joint venture between locally based Torose Equities and Irvine, Calif.-based Sabal Investment Holdings has sold 3480 Main Highway, a 55,000-square-foot office and retail property located in Miami’s Coconut Grove neighborhood. Miami-based Azora Private purchased the property for $61 million, or $1,100 per square foot. The building is fully leased to food-and-beverage concepts Amal and Level 6, which are located on the ground floor and rooftop, as well as three office tenants. In 2025, an affiliate of CGI Merchant Group lost the office building through a UCC auction over $32.5 million in debt, in which Torose Equities and Sabal purchased the loan, according to South Florida Business Journal.
DALLAS — Westwood Management has signed a 30,000-square-foot office lease renewal in Uptown Dallas. The boutique asset management firm will remain a tenant at The Crescent, where it has occupied space since 1990, through 2036. Paul Whitman, Brad Selner and Blake Waltrip of JLL represented the tenant in the lease negotiations. Tony Click and Jordyn Allen represented the landlord, Crescent Real Estate, on an internal basis.
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