Tuesday, July 7, 2026
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LoansNew YorkNortheastOffice

Newmark Arranges $515M Refinancing of Midtown Manhattan Office Building

by Taylor Williams

NEW YORK CITY — Newmark has arranged the $515 million refinancing of 31 West 52nd Street, a 785,000-square-foot office building in Midtown Manhattan. A consortium of lenders that was led by Wells Fargo and included Bank of America, Barclays, Citi, Goldman Sachs and JP Morgan provided the debt, which consists of a $415 million senior mortgage loan, a $40 million B-note and a $60 million mezzanine loan. Jordan Roeschlaub, Adam Spies, Adam Doneger, Nick Scribani, Tim Polglase, Dan Axelson and Jack Fenton of Newmark arranged he fixed-rate debt package on behalf of the borrower, local investment firm Rithm Capital. Cushman & Wakefield’s Gideon Gil, Zach Kraft and Cecelia Galligan also advised on the transaction.

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AcquisitionsOfficeSoutheastTennessee

CBRE Arranges Sale of 16-Story Moore Office Building in Nashville

by John Nelson

NASHVILLE, TENN. — CBRE has arranged the sale of The Moore Building, a 16-story office building located at 827 19th Ave. S in Nashville. Shorenstein Investment Advisors purchased the 245,826-square-foot building from Atlanta-based Portman Holdings. Patrick Gildea, Matt Smith, Roscoe High, JT Martin and Morgan Hillenmeyer of CBRE represented the seller in the transaction. JP Cordeiro, Cliff Joyner and Mike Ryan of CBRE’s Debt & Structured Finance team arranged acquisition financing for the buyer. The sales price and loan amount were not disclosed. Built in 2023, The Moore Building is situated in Nashville’s Midtown district and features 9,000 square feet of ground-level retail space, an 11,000-square-foot amenity deck, a sky lobby and lounge, fitness center, conference facilities and above- and below-grade parking totaling nearly 600 spaces. The property is named after Scotty Moore, the longtime guitarist to Elvis Presley who had once operated a recording studio at the site. According to Nashville Business Journal, TikTok is an anchor tenant at the LEED-certified office building.

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Leasing ActivityMidwestOfficeOhio

CBRE Opens 19,500 SF Office in Downtown Columbus, Ohio

by Kristin Harlow

COLUMBUS, OHIO — CBRE has opened its new 19,500-square-foot office on the fifth floor at 10 W. Nationwide Blvd., a trophy office building within the Arena District owned and developed by Nationwide Realty Investors in downtown Columbus. The firm has relocated from 200 Civic Center Drive. The new office is part of CBRE’s Workplace360 program, which showcases the company’s “Future of Work” space standards, including technology and collaborative spaces designed to support hybrid working. The office features several different work areas organized across six team “neighborhoods,” each offering a mix of individual and shared meeting and support spaces along with focus rooms, huddle rooms, conference rooms and project rooms. The office’s design draws inspiration from bespoke hotels and hospitality-focused experiences.

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DevelopmentOfficeTexas

Partnership Underway on $12M Renovation of Dallas Office Campus

by Taylor Williams

DALLAS — A partnership between Chicago-based Glenstar and New York City-based Affinius Capital is underway on the $12 million renovation of Energy Square, a five-building office campus located in the University Park area of Dallas. Designed by Gensler, the latest capital improvement program will involve the build-out of speculative suites and new conference rooms on the third floor of Energy Square Building II, as well as full-floor build-outs of tenant-ready spaces on multiple floors throughout that building. The partnership will also introduce a ground-level tenant lounge at Energy Square Building III that will be anchored by a café and bar concept. JLL is the leasing agent for the campus.

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DevelopmentFloridaOfficeSoutheast

Partnership to Develop 131,000 SF Office Building in Boca Raton, Florida

by John Nelson

BOCA RATON, FLA. — A partnership between Butters Construction & Development Inc., PEBB Enterprises and Konsker Development plans to develop One Midtown, a 131,000-square-foot office building in Boca Raton’s Midtown submarket. The property will comprise 120,000 square feet of Class A office space and 11,000 square feet of ground-level retail space. The developers say that One Midtown is approximately 35 percent preleased. Christina Jolley, Kevin Carrasco, Tere Blanca and Danet Linares of Blanca Commercial Real Estate are the office leasing representatives, and Zach Feldman of PEBB is overseeing retail leasing on behalf of ownership. The construction timeline for the project was not released.

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Leasing ActivityNew YorkNortheastOffice

Adaptive Security Signs 51,220 SF Office Sublease in Manhattan’s Financial District

by Taylor Williams

NEW YORK CITY — Adaptive Security has signed a 51,220-square-foot office sublease in the Financial District of Lower Manhattan. The AI-powered cybersecurity company is taking space formerly leased to BarkBox, an e-commerce firm for the pet products industry, at 120 Broadway. Zev Holzman, Christopher Foerch, Will Demuth and Riley Scanlon of Savills represented the subtenant in the lease negotiations. Ross Zimbalest of CBRE represented the sublandlord. The owner of the building was not disclosed.

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Villa-Creek-Dallas
DevelopmentIndustrialOfficeTexas

Foundry Commercial to Undertake Office-to-Industrial Conversion in Dallas

by Taylor Williams

DALLAS — Foundry Commercial, an Orlando-based development and brokerage firm, will undertake an office-to-industrial conversion project in Dallas. The address of the office building was not announced, but the new industrial facility will total approximately 126,000 square feet and will be known as Villa Creek. The building will feature 32-foot clear heights, 28 dock-high doors and two drive-in doors. Construction is scheduled to begin this summer and to last about a year. Villa Creek will be Foundry’s 12th office-to-industrial conversion nationally and seventh in the Dallas-Fort Worth metroplex.

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Leasing ActivityNew JerseyNortheastOffice

Kislak Negotiates 26,653 SF Office Headquarters Lease in New Providence, New Jersey

by Taylor Williams

NEW PROVIDENCE, N.J. — Locally based brokerage firm The Kislak Co. Inc. has negotiated a 26,653-square-foot office headquarters lease in New Providence, about 30 miles west of New York City. The tenant is nonprofit organization Our House, and the space is located within the 171,216-square-foot building at 41 Spring St. Matthew LoBocchiaro of Kislak represented the tenant in the lease negotiations. Doug Rowe and Geoffrey Schubert of Lee & Associates represented the landlord.

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Leasing ActivityNew YorkNortheastOffice

Argentic Investment Management Signs 13,000 SF Office Lease in Manhattan’s Flatiron District

by Taylor Williams

NEW YORK CITY — Argentic Investment Management has signed a 13,000-square-foot office lease in Manhattan’s Flatiron District. The financial services firm will occupy the entire 20th floor the Gramercy Park Building, a 238,000-square-foot structure at 257 Park Ave. S that is now 97 percent leased. Neil Goldmacher, Eric Zemachson and Scott Gutnick of Newmark represented the tenant in the lease negotiations. Andrew Wiener and Robert Fisher represented the landlord, The Feil Organization, on an internal basis.

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IllinoisMarket ReportsMidwestMidwest Market ReportsOffice

Downtown Chicago’s Office Market Shows Cautious Momentum

by Kristin Harlow

By Ben Azulay, Bradford Allen Downtown Chicago’s office market is entering a period defined less by the disruptions of recent years and more by the opportunities taking shape in their wake. Tenants are committing or recommitting to quality space, investors are acquiring assets at more compelling valuations and office-to-residential conversions are removing obsolete supply. Leasing activity pulled back in the first quarter of 2026, with approximately 1.6 million square feet of direct deals completed, according to Bradford Allen’s first-quarter downtown Chicago office market report. That is down from just over 2 million square feet in fourth-quarter 2025.  Several notable transactions reflect a market increasingly defined by location and building quality. Global food brand Mars Snacking made the quarter’s most significant commitment, signing a new 169,816-square-foot headquarters lease at Fulton Labs, 400 N. Aberdeen St. in Fulton Market, while also absorbing the 37,672-square-foot former Kellanova space in River North as part of a broader expansion that will bring more than 600 new jobs and $100 million in investment to the city.  In its second expansion in the building in four years, IMC Financial Markets leased an additional 104,000 square feet at Willis Tower, bringing its total footprint there to approximately 250,000 …

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