PLANO, TEXAS — JLL has negotiated a 75,000-square-foot office lease at APEX at Legacy, a 220,000-square-foot building located at the intersection of Dallas North Tollway and Sam Rayburn tollways in Plano. The deal with the tenant, cloud-based educational software company PowerSchool, brings APEX at Legacy to 97 percent occupancy. Blake Shipley, Gini Rounsaville and Michael Williams of JLL represented the undisclosed landlord in the lease negotiations. Stephen Salomon, Will Haynes and Jad Charif of CBRE represented the tenant.
SOMERSET, N.J. — Sprouts Farmers Market will open a 28,750-square-foot grocery store in the Central New Jersey community of Somerset. The Phoenix-based grocer is taking space at the 219,000-square-foot Somerset Shopping Center. Vanessa Kelty and Ed Vasconcellos of Levin Management Corp. represented the undisclosed landlord in the lease negotiations. Mike Horn and Steven Winters of RIPCO Real Estate represented Sprouts. A tentative opening date has not yet been announced.
AUSTIN, TEXAS — Creative Action, a youth arts education organization, will open a 25,000-square-foot headquarters at Mueller, a 700-acre mixed-use district in North Austin that is a redevelopment of a former municipal airport. The space will be housed across two levels within a two-story building and will include 15,000 square feet for performing arts and communal gathering functions. The other 10,000 square feet will house programming and administrative space.
PRINCETON, N.J. — TRAC Intermodal has signed a 31,000-square-foot office lease in Princeton. The provider of logistics services is taking space on the third floor of the building at 600 College Road, which is part of the Princeton Point campus. Todd Elfand and Kevin Carton of Cushman & Wakefield represented the landlord, Nuveen Real Estate, in the lease negotiations. The tenant representative was not disclosed.
CHICAGO — Kohan Retail Investment Group has acquired 131 South Dearborn, a 1.5 million-square-foot office tower formerly known as Citadel Center in Chicago’s central business district. The purchase price of $137 million represents a 76 percent discount from the property’s 2006 sales price, according to Crain’s Chicago Business. The acquisition was completed alongside investment partners Alan Assil and Kevin Assil, whose partnership has supported the continued expansion of Kohan’s office portfolio. Kohan, which is based in Great Neck, N.Y., and led by Mike Kohan, owns and operates retail, office and mixed-use properties. A partnership between Angelo, Gordon & Co., Hines and Dearborn Capital Group acquired the property in 2016. It was completed in 2003.
BEDFORD, MASS. — A joint venture between Anchor Line Partners and Alloy Properties has refinanced The Core at Crosby, a 615,305-square-foot office and life sciences campus in Bedford, a northwestern suburb of Boston. Berlin Hyp, the commercial real estate finance arm of LBBW, provided the debt for the nine-building campus, which is anchored by software provider AspenTech. Robert Griffin, David Douvadjian Sr., David Douvadjian Jr., Timothy O’Donnell, Edward Maher and Matthew Pullen of Newmark arranged the debt on behalf of the joint venture.
PARSIPPANY, N.J. — Locally based brokerage firm The Kislak Co. Inc. has negotiated the $10 million sale of a 131,346-square-foot office building in the Northern New Jersey community of Parsippany. The building sits on an eight-acre site at 959 U.S. Route 46. Tom Scatuorchio and Matt Weilheimer of Kislak represented the buyer and seller, both of which requested anonymity, in the transaction.
BETHESDA, MD. — Development and investment firm Roadside Development and global alternative asset manager Hudson Bay Capital have acquired Bethesda Towers, an office campus situated in downtown Bethesda. The sales price was not disclosed, but the Washington Business Journal reports that the complex had an assessed property value of roughly $86 million, according to records with the State of Maryland. Moore & Associates sold the property and will continue to oversee property management on behalf of the new ownership. Moore & Associates acquired Bethesda Towers, which was originally built in the 1970s, in 2005. Totaling roughly 600,000 square feet, the campus comprises three office buildings and is walkable to attractions including Bethesda Row, the Capital Crescent Trail and the Bethesda Metro Station. The buyers plan to reposition the development over time but did not release any specific plans. “The Bethesda Towers campus presents a large-scale parcel with the potential to become a unique and transformative place at the gateway to Bethesda,” says Jeff Edelstein, president of Roadside. “We’ve had our eye on the property for quite some time, and it will be a great collaboration with our partners at Hudson Bay Capital.” Mychael Cohn of Cohn Property Group represented Roadside in the …
LAS VEGAS — Developer Moonwater Capital has broken ground on Halo Tower, an eight-story Class A office property in southwest Las Vegas. Completion and occupancy is planned for third-quarter 2028. Situated on Sunset Road adjacent to the 215 Beltway, Halo Tower will feature 220,000 square feet of office space with 28,571-square-foot floor plates, 15- to 17-foot lobby heights and an indoor-outdoor rooftop boardroom and amenity deck with panoramic views of the Las Vegas Valley. Martin-Harris Construction is serving as general contractor for the project. Brad Peterson, Tanner Peterson, Justin Witt and Grace Ordonez of CBRE will handle marketing and leasing for the property.
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.
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