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AcquisitionsOfficeTexas

Newmark Negotiates Sale of 229,307 SF Office Building in Richardson, Texas

by Taylor Williams

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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Leasing ActivityOfficeTexas

NAES Corp. Signs 28,000 SF Office Lease Expansion in The Woodlands, Texas

by Taylor Williams

THE WOODLANDS, TEXAS — NAES Corp. has signed a 28,000-square-foot office lease expansion at Hughes Landing in The Woodlands, about 30 miles north of Houston. The power plant operator is currently a subtenant at 1735 Hughes Landing and will soon establish a long-term presence at 1725 Hughes Landing. Lucian Bukowski of Stream Realty Partners and Kip Durrell of CBRE represented the tenant in the lease negotiations. Jillian Fredericks, Joel Douthit and John Spafford, also with CBRE, represented the landlord, Howard Hughes Holdings.

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AcquisitionsArizonaHealthcareIndustrialMixed-UseOfficeWestern

Venture West Group Sells Innovation Park in Oro Valley, Arizona for $21.2M

by Amy Works

ORO VALLEY, ARIZ. — Venture West Group has sold Innovation Park, a 333-acre master-planned business park in Oro Valley, to Bourn Cos. for $21.2 million. Robert Glaser, Richard Kleiner, Greg Furrier, Alexis Corona and Natalie Furrier of Cushman & Wakefield | PICOR represented the seller in the transaction. Kate Zimmerman, also with Cushman & Wakefield | PICOR, supported the transaction. Located at the northwest corner of Oracle and Tangerine roads, the business park is home to a variety of tenants, including Roche Tissue Diagnostics, the University of Arizona Center for Innovation at Oro Valley and Oro Valley Hospital.

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M7-Lofts-Rendering
DevelopmentMultifamilyOfficeTop Stories

Joint Venture Plans $120M Office-to-Apartment Conversion Project in Coastal Connecticut 

by Hayden Spiess

NORWALK, CONN. — A joint venture between Saber-Hightower LLC and Granoff Real Estate has announced plans for the repositioning of two vacant office buildings in Norwalk, a coastal town near the Long Island Sound. Development costs of the conversion are estimated at $120 million. The properties — 101 and 102 Merritt 7 — will be converted into apartment buildings totaling 286 loft-style units. Situated within the Merritt 7 office park, the eight-story buildings together comprise 511,000 square feet and were the first of the six buildings constructed at Merritt 7 in the early 1980s.  Amenities at the redeveloped properties, dubbed M7 Lofts, will include more than 1,300 parking spaces and a landscaped top-level deck with a lawn, swimming pool, dog runs, a putting green and a bocce ball court.  M7 Lofts will offer a mix of 42 studios, 167 one-bedroom units and 77 two-bedroom apartments averaging 983 square feet in size. Twenty-six units will be designated as affordable under the city’s inclusionary requirements.  “While some developers may have looked at these buildings as a teardown-and-rebuild opportunity, we saw the value in reusing what was there,” says Greg Belew, co-founder of Saber-Hightower, which is based in Briarcliff Manor, N.Y. “With 11-foot …

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DevelopmentDistrict of ColumbiaLeasing ActivityOfficeSoutheast

Sheppard Law Firm Signs 107,224 SF Office Lease in Downtown D.C.

by John Nelson

WASHINGTON, D.C. — Sheppard, a law firm that employs more than 1,200 lawyers nationally, has signed a 107,224-square-foot lease at 2033 K Street, a trophy office redevelopment project in downtown Washington, D.C. Dimitri Hajimihalis, Emily Eppolito and Carroll Cavanagh of CBRE represented the landlord, In-Rel Properties, in the lease negotiations. Gary Stein, David Lipson, Jon Glass and Owen Jaccard of Savills represented Sheppard, which is an Am Law 50 firm, or a top 50 grossing law firm based off rankings by The American Lawyer. Sheppard is anchoring the office redevelopment, which is expected to deliver by July 2029, and will have building signage. In-Rel’s redevelopment will expand the existing building’s square footage horizontally and vertically, with three new floors and an occupiable penthouse level. The project team includes Hines (construction manager), Corgan (architect), Clear (interior build-out manager) and Studio Alliance (interior designer).

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Leasing ActivityOfficeTexas

Mitsubishi Corp. Signs 91,761 SF Office Lease in Downtown Houston

by Taylor Williams

HOUSTON — Mitsubishi Corp. (Americas) has signed a 91,761-square-foot office lease in downtown Houston. The space spans floors 31 through 34 at 1100 Louisiana, a 55-story, 1.3 million-square-foot building that was developed in the early 1980s. Winfield Haggard Jr. and Diana Bridger of Partners Real Estate represented the local landlord, Hines, in the lease negotiations. Tim Relyea of Cushman & Wakefield represented Mitsubishi Corp.

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DevelopmentNew YorkNortheastOffice

George Comfort & Sons Underway on Renovation of 350,000 SF Office Building in Lower Manhattan

by Taylor Williams

NEW YORK CITY — Local owner-operator George Comfort & Sons is underway on the renovation of 44 Wall Street, a 350,000-square-foot office building in Lower Manhattan’s Financial District. Designed by Gensler, the project will feature a reimagined lobby and a new, 13,000-square-foot tenant amenity center with conference facilities and a café, as well as elevated retail space. Renovations are expected to be complete before the end of the year. George Comfort & Sons owns the 24-story building, which was originally constructed in 1927, in partnership with Gaedeke Group.

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HealthcareIndustrialMarket ReportsMidwestMidwest Market ReportsOfficeOhio

Greater Cleveland Market Overview: Growth, Investment and Recognition

by Kristin Harlow

By Kevin Malinowski, Colliers | Cleveland-Akron Greater Cleveland continues to strengthen its position as one of the Midwest’s most competitive business and commercial real estate markets with Ohio’s recognition as CNBC’s No. 1 “State for Business in 2026,” a distinction driven by strong infrastructure, competitive operating costs, strategic market access and a growing supply of development-ready sites. Those advantages are translating into corporate investment, job creation, real estate activity and public-private partnerships across Northeast Ohio. High-profile investments are helping fuel the region’s momentum. According to reports, Cleveland Clinic is investing more than $1 billion in healthcare, research and innovation initiatives, including construction of its new Neurological Institute on its main campus. Nearby, Canon Healthcare USA acquired a building near Cleveland Clinic’s main campus for its U.S. headquarters and operations.  Sherwin-Williams recently completed its new downtown headquarters and suburban research campus. The project is widely regarded as one of the largest corporate investments in the city’s history and reflects the company’s continued presence and investment in the region. Like many other downtown office markets, Cleveland’s office sector is evolving as companies optimize workspace needs. That said, Cleveland has emerged as a notable leader for converting office to residential  with projects such as …

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Leasing ActivityNew JerseyNortheastOffice

Jersey Mike’s Signs 72,326 SF Office Headquarters Lease in Tinton Falls, New Jersey

by Taylor Williams

TINTON FALLS, N.J. — Jersey Mike’s has signed a 72,326-square-foot office headquarters lease near the Jersey Shore in Tinton Falls. The space is located within Bell Works Fort Monmouth, a redevelopment of the former headquarters of cybersecurity firm Commvault. Nick Pistolakis of Lakis Commercial represented Jersey Mike’s, which will also open a restaurant on the property, in the negotiations. Jeff Garibaldi, Tara Keating and Phil Mylod of NAI James E. Hanson represented the landlord, Inspired by Somerset Development.

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AcquisitionsOfficeTexas

Marcus & Millichap Brokers Sale of 218,689 SF Office Campus in Northwest Houston

by Taylor Williams

HOUSTON — Marcus & Millichap has brokered the sale of The Preserve at North Loop, a 218,689-square-foot office campus in northwest Houston. Built in 1970, the 12.7-acre campus consists of seven buildings that were approximately 65 percent leased at the time of sale. Keith Lloyd and Brad Mills of Marcus & Millichap represented the seller, an entity doing business as Silver Star CRE LLC, in the transaction and procured an undisclosed, Atlanta-based investor as the buyer.

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