DALLAS — Granite Properties has sold Factory Six03, a 215,111-square-foot office building in the West End area of Dallas. Granite opened FactorySix03 in 2017 as a redevelopment of a 114-year-old historic building that originally housed the headquarters of the Brown Cracker and Candy Co. and subsequently served as a warehouse, marketplace and movie theater. Today, the building is 78 percent leased, with Sam’s Club and Blue Cross Blue Shield serving as the anchors. Todd Savage, Russell Ingrum, Jared Chua, Kelsey Shebay, Matt Murphy, Cole Sutter and Kiana Nemati of Cushman & Wakefield represented Granite in the transaction. The buyer was Houston-based investment firm The Deal Company (DealCo.)
DALLAS — Cushman & Wakefield has negotiated two office leases totaling 20,155 square feet at 400 Record St. in downtown Dallas. The deals are for a 13,447-square-foot renewal with Republic Property Group and a 6,708-square-foot new lease with the Dallas Economic Development Corp. Rodney Helm and Matt Schendle of Cushman & Wakefield represented the landlord, Labora, in both sets of lease negotiations. Robert Blount and Hudson Woods of CBRE and Sharon Morrison and Chelby Sanders of Cresa represented the tenants, respectively.
COLUMBUS, OHIO — Law firm BakerHostetler has signed a five-year lease renewal for its 66,625-square-foot office space at 200 Civic Center Drive in downtown Columbus. The lease marks. The largest private sector office lease signed in the central business district since the start of the pandemic, according to JLL. Following the renewal, JLL is now marketing 15,559 square feet of top-floor space on the building’s 14th floor. Andy Dutcher and Joey Lamb of JLL represented the building owner, CC 13 LLC, an affiliate of Columbus-based Lawyers Development Corp. Phil Pelock of CBRE represented BakerHostetler. Located along the Scioto River, the office building features an attached 482-space parking garage, an updated lobby with an art gallery and café, a fitness center, shared conference space and onsite property management and security services. The building sits along the route of The Capital Line, a $100 million pedestrian and bicycle pathway currently under construction and expected to be completed in 2027.
CHICAGO — Cushman & Wakefield has brokered the sale of 121 W. Wacker, a 41-story office tower overlooking the Chicago River. The buyers, Chicago-based investors Ken Buckman and Robert Castillo, intend to invest substantial capital to re-energize the nearly century-old building. Planned enhancements include a significant upgrade to the outdoor amenity terrace and 24th-floor conference center, a remodeled restaurant and bar managed by a Chicago hospitality firm and a refreshed main lobby. Ware Malcomb will oversee all interior and exterior architecture, with Ameritus continuing as the building’s property manager. Completed in 1930 and designed by Chicago architects Holabird & Root, the 441,030-square-foot property stands as one of the city’s most recognizable Art Deco skyscrapers. Originally known as the LaSalle-Wacker Building, the tower is located at the gateway to Chicago’s historic LaSalle Street corridor. The building is now included within the West Loop-LaSalle Street Historic District on the National Register of Historic Places. United Airlines and McDonald’s both maintained offices at the property previously. Cody Hundertmark and Tom Sitz of Cushman & Wakefield represented the seller, Chicago-based Ameritus. Cushman & Wakefield has been retained as the leasing agent for the property, with Mason Taylor and Paige Krueger leading leasing efforts. According …
PLANO, TEXAS — Selerix Insurance Services has signed a 28,400-square-foot office headquarters lease in Plano. The space is located within One Legacy Circle and represents both an expanded footprint and consolidation into a single location for the company. Alan Wood of Site Selection Group represented Selerix in the lease negotiations. Jared Laake of Bradford Commercial Real Estate Services and Eduardo Gildenson of Gildenson Real Estate represented the landlord.
WHITE PLAINS, N.Y. — Houlihan-Parnes Realtors has secured a $13.7 million loan for the refinancing of a 134,000-square-foot office building in White Plains, located north of New York City. The five-story building at 4 W. Red Oak Lane offers amenities such as a café and a fitness center and is home to tenants in industries such as real estate, financial and legal services, as well as insurance and telecommunications. James Houlihan and Andrew Greenspan of Houlihan-Parnes arranged the five-year, fixed-rate loan on behalf of the borrower, GHP Office Realty, which is an affiliate of Houlihan-Parnes.
PHOENIX — RED Development has obtained $69.3 million in refinancing for The Offices at The Grove, a Class AA office building in Phoenix. Kevin Mackenzie, Jason Carlos and Frank Chums of JLL Debt Advisory team arranged the five-year, fixed-rate loan with PGIM’s real estate investment group for the borrower. The financing collateral consisted of the office building, Pyro restaurant, two retail spaces and an underground parking facility. Completed in fourth-quarter 2022, The Offices at The Grove features 185,536 square feet of fully leased office space. Current tenants include JPMorgan Chase, Clayco, First Solar, JLL, PwC, Caterpillar and Aon. The property offers best-in-class amenities, including a rooftop pickleball court and pavilion, first-floor dining with Pyro (a Japanese izakaya bistro by Flagship Restaurant Group), views of Camelback Mountain and 631 parking spaces in shared structured parking.
GARDEN CITY, N.Y. — The New York State Unified Court System has signed a 16,000-square-foot office lease in the Long Island community of Garden City. The space is located on the third floor of Garden City Center, a 200,000-square-foot building that offers amenities such as a conference center, fitness center, café and a tenant lounge. Ralph Guiffre of CBRE represented the tenant in the lease negotiations. Andrew Wiener and Robert Fisher represented the landlord, The Feil Organization, on an internal basis.
CHICAGO — Cushman & Wakefield has brokered the $115 million sale of 225 W. Wacker Drive, a Class A office tower overlooking the Chicago River in downtown Chicago. Prime Finance and Hines purchased the property from Spear Street Capital. The 31-story, 651,000-square-foot building is situated where Chicago’s West Loop and River North neighborhoods converge. Tenants include Cushman & Wakefield, which will remain an anchor tenant under the building’s new ownership. Cody Hundertmark, Tom Sitz, Jeremiah Olsen and Kelsey Berry of Cushman & Wakefield represented the seller. Jeff Altenau of Cushman & Wakefield advised Prime Finance in sourcing acquisition financing. Cushman & Wakefield is also expected to be retained to oversee property management and agency leasing on behalf of Prime Finance. During Spear Street Capital’s tenure, the property underwent significant capital improvements, including a lobby renovation, upgraded conferencing and collaboration spaces, a hospitality-driven tenant lounge, fitness facilities and an outdoor rooftop terrace. The new ownership plans additional investments, including a re-envisioned lobby-level restaurant and bar.
NORTH CHARLESTON, S.C. — Redline Property Partners and Walker & Dunlop Investment Partners (WDIP) have secured an undisclosed amount of capital for the refinancing of Port 26, an 87,380-square-foot creative office property located in North Charleston. Patterson Real Estate Advisory Group arranged the loan on behalf of the borrowers through United Bank. Further details of the transaction were not disclosed. Redline acquired the vacant former Department of Defense building in December 2021 and completed a comprehensive renovation in 2023. The property was fully leased at the time of financing to six tenants: RXO, KBR Engineering, Beazer Homes, Ryan Homes, Integrated Controls and Information and Prometric, with a weighted average lease term (WALT) of 5.5 years. Port 26, which is situated within a federal HUBZone, is also in proximity to Boeing’s 787 campus, the Naval Information Warfare Center and the Port of Charleston.
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