HOUSTON — Accesso, a Florida-based owner-operator, will renovate 3900 Essex, a 235,620-square-foot office building in West Houston. Plans for the capital improvement project include lobby renovations and construction of several spec suites throughout the 12-story building. These upgrades build on recently completed enhancements of the HVAC, fire and security systems and newly updated common areas and amenity spaces at 3900 Essex, including a fitness center and a conference facility. Accesso also secured a two-year loan extension in conjunction with the announcement of new capital improvements.
NEW YORK CITY — Newmark has arranged the $210 million refinancing of 1375 Broadway, a 520,000-square-foot office building in Midtown Manhattan. The building recently underwent a capital improvement program that upgraded the lobby, entrance, common areas and tenant lounges and also introduced a 6,000-square-foot rooftop terrace. Nick Scribani, Ricky Braha, Tim Polgase and Niv Shahmoon of Newmark arranged the debt through Boston-based private equity firm Bain Capital. The borrower was a partnership between 60 Guilders and Sentry Realty.
NEW YORK CITY — Wolf Popper LLP has signed a 13,400-square-foot office lease in Midtown Manhattan. The law firm will occupy the entire 19th floor at 570 Lexington Avenue, a 450,622-square-foot building that was constructed in 1932. Daniel Horowitz, Ira Schuman, Jeffrey Peck, Jacob Stern and Skyler Celotto of Savills represented the tenant in the lease negotiations. The landlord, The Feil Organization, was self-represented.
HOUSTON — CannonDesign has signed a 9,897-square-foot office lease at the 52-acre Greenway Plaza office complex in Houston. The integrated design services firm will occupy space on the fifth floor at 20 Greenway Plaza, a 433,132-square-foot building. Abby Alford of Stream Realty Partners represented the tenant in the lease negotiations. Steve Rocher and Rima Soroka of CBRE represented the landlord, Stockdale Capital Partners.
NAPA, CALIF. — CBRE has arranged a $57.6 million loan for the refinancing of First Street Napa, a Class A mixed-use property in downtown Napa. Brad Zampa and Andy Gross of CBRE secured the loan through Knighthead Funding on behalf of the borrower, Zapolski Real Estate. Located at 1300 First St., the property features 163,000 square feet of retail, dining, tasting rooms and office space across six buildings. First Street Napa is currently 88 percent leased to a variety of tenants, including Lululemon, Compass, Free People and Silicon Valley Bank, with new retail additions to include Blue Bottle Coffee, Daily Recess and the Don Perico restaurant.
SAN DIEGO — Tryperion Holdings, in partnership with a joint venture between Crescent Coast Partners and Stop Partners, has purchased Terraces, a Class A office building in San Diego’s Kearny Mesa submarket. The partnership acquired the six-story property for $30 million in an all-cash transaction that closed on Dec. 19. Situated on 14.7 acres at 5887 Copley Drive, Terraces features 206,000 square feet of office space with average floor plates of approximately 34,288 square feet. The new ownership plans to implement a targeted capital improvement program, beginning with enhancements to common areas and upgrades to the vacant suites. The building features secure, covered parking via a multi-story parking structure and a comprehensive amenity package, including a full-service café, fitness center with showers and lockers, conference facilities, outdoor terraces on floors three through six, a putting green and a sports court. Rick Reeder and Brad Tecca of Newmark represented the undisclosed seller, while Crescent Coast Partners and Stos Partners were self-represented in the transaction. Leasing efforts will continue to be led by Brett Ward, Michael Cassolato and Mike Novkov of Cushman & Wakefield.
HOUSTON — SunStrong Management has signed an 18,280-square-foot office lease at the 52-acre Greenway Plaza office complex in Houston. The solar asset management and service firm will occupy space on the fifth floor at 20 Greenway Plaza, a 433,132-square-foot building. Alvarez & Marsal represented the tenant in the lease negotiations. Steve Rocher and Rima Soroka of CBRE represented the landlord, Los Angeles-based Stockdale Capital Partners.
WASHINGTON, D.C. — A partnership between Carr Properties and Barings has purchased a 12-story office building located at 1401 New York Ave. NW in downtown Washington, D.C. Eastdil Secured represented the undisclosed seller in the transaction. The sales price was also not disclosed. The new ownership plans to fully renovate the 211,500-square-foot building with a new enclosed amenity space on the rooftop, as well as upgrades to the office building’s lobby, fitness center and conference facilities. Current tenants at the LEED Gold-certified building include Boies Schiller Flexner, Capstone, Vedder Price and Nossaman.
VIENNA, VA. — Cresa has arranged the $12 million sale of a vacant, 100,000-square-foot office building located at 901 Follin Lane in Vienna, about 17 miles west of Washington, D.C. Navy Federal Credit Union acquired the property from Zalco Commercial. Gene Sachs, Rich Rhodes and Dan Silverman of Cresa represented Navy Federal in the transaction. The property is situated on 9.1 acres across the street from Navy Federal’s headquarters and will be utilized for the time being as a parking lot. Future plans for the office building and surrounding land were not disclosed. The property has sat vacant for the past six years after being leased to an unnamed federal government tenant.
MIAMI — MSC Group, a privately owned cruise ship operator based in Geneva, has opened a new 130,000-square-foot office in downtown Miami. The new offices house the headquarters of the company’s North American Cruise Division and brings together 400 MSC Group team members from both of the company’s brands: MSC Cruises (23 ships) and Explora Journeys (two luxury ships). “I am thrilled to welcome MSC Group’s North American Cruise Division headquarters to Miami-Dade County, just a few miles from PortMiami,” says Daniella Levine Cava, Mayor of Miami-Dade County. “This exciting investment will create hundreds of new jobs, generate meaningful economic impact and further strengthen Miami-Dade’s position as a global hub for cruise and cargo operations.” Cava and other civic and private stakeholders held a ribbon-cutting ceremony yesterday at Sawyer’s Walk to welcome MSC Group. MSC Group invested $100 million into the build-out of the new offices, which occupy the full seventh floor of Block 55 within Sawyer’s Walk, a 1.5 million-square-foot mixed-use development by SG Holdings. Other uses at Sawyer’s Walk include an 18-story affordable seniors housing tower and 180,000 square feet of retail space leased to tenants including Target, Five Below, Aldi, CVS, Starbucks, Ross Dress for Less and Burlington. …
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