Office

Trammell Crow Co. Completes Sprouts Farmers Market Headquarters in Phoenix

by Amy Works September 1, 2026

PHOENIX — Trammell Crow Co. has completed a 181,000-square-foot mixed-used development in Phoenix. Project partners include U.S. Realty Advisors, RSP Architects, Wespac Construction, Keyser and JLL. The 8-acre project consists of a 145,000-square-foot Class A office building serving as Sprouts Farmers Market’s corporate headquarters, a 25,000-square-foot flagship Sprouts grocery store and approximately 11,000 square feet of additional retail space. The grocery store opened to the public on July 24, 2026, and the office headquarters building is now ready for occupancy. Located within the CityNorth development near 56th Street and Loop 101, the headquarters features a community garden, rooftop deck, fitness center and culinary kitchens.

September 1, 2026

Leasing Activity New York Northeast Office

Veeva Signs 62,223 SF Office Lease at The PENN District in Midtown Manhattan

by Taylor Williams September 1, 2026

NEW YORK CITY — Veeva has signed a 62,223-square-foot office lease at The PENN District, a two-building, 4.4 million-square-foot development in Midtown Manhattan. The provider of cloud software, AI, data and consulting services for the life sciences industry will occupy the entire 11th floor of PENN 2 on a 12-year lease. Jim Wenk and Kirill Azovtsev of Savills represented Veeva in the lease negotiations. The landlord, Vornado Realty Trust, was self-represented.

September 1, 2026

Illinois Loans Midwest Office

Tishman Speyer Receives $340M Loan for Refinancing of Chicago Office Complex

by Kristin Harlow September 1, 2026

CHICAGO — Tishman Speyer has received a $340 million CMBS loan for the refinancing of The Franklin, a two-tower office complex in Chicago’s West Loop. JPMorgan led the single asset single borrower (SASB) loan with Bank of America and Deutsche Bank serving as co-lenders. Proceeds from the five-year, floating-rate loan will be used to pay off The Franklin’s existing loan and fund ongoing leasing efforts. Tishman Speyer has secured 460,000 square feet of new leases and extensions at the property since June 2025, leaving the asset 84 percent leased. Tenants at the 2.5 million-square-foot campus include The Options Clearing Corp., Robert W. Baird, Amazon Web Services, Guggenheim Partners and The Trade Desk. The Franklin encompasses a 60-story tower at 227 W. Monroe St. and a 34-story tower at 222 W. Adams St.

September 1, 2026

Loans Midwest Minnesota Office

CBRE Arranges $11M Refinancing for Grandview Square Office Building in Edina, Minnesota

by Kristin Harlow August 31, 2026

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.

August 31, 2026

Acquisitions Office Texas

Hines Acquires 206,000 SF Office Building in Downtown Austin

by Taylor Williams August 31, 2026

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.

August 31, 2026

Acquisitions Office Southeast Virginia

Newmark Negotiates $26M Sale of Office Tower in Norfolk, Virginia

by Abby Cox August 31, 2026

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.

August 31, 2026

Acquisitions Healthcare Office Southeast Tennessee

Marcus & Millichap Brokers $24.5M Sale of Medical Office Building in Germantown, Tennessee

by Abby Cox August 31, 2026

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.

August 31, 2026

Connecticut Development Multifamily Northeast Office

Condyne Capital Receives Approval for Office-to-Residential Conversion Project in Windsor, Connecticut

by Taylor Williams August 31, 2026

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.

August 31, 2026

Acquisitions New York Northeast Office

Olmstead, Vertex Buy 302,000 SF Office Building in Midtown Manhattan

by Taylor Williams August 31, 2026

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.

August 31, 2026

Leasing Activity New York Northeast Office

Ameriprise Financial Signs 37,704 SF Office Lease Renewal in Lower Manhattan

by Taylor Williams August 31, 2026

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.

August 31, 2026

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