IRVING, TEXAS — Foundry Commercial, an Orlando-based development and brokerage firm, is underway on construction of an office-to-industrial conversion project in Irving. The address of the office building was not announced, but the new industrial facility will total approximately 110,000 square feet and will be known as Ridgepoint. Demolitions began in March. An expected completion date was not announced. Ridgepoint will be Foundry’s 10th office-to-industrial conversion overall and its sixth in the Dallas area.
COLUMBUS, OHIO — Newmark has arranged the sale and acquisition financing of the office and retail components of The Pointe at Polaris, a mixed-use asset located in the Polaris submarket of Columbus. DFWLAND purchased the property from a joint venture between VanTrust Real Estate and NP Limited Partnership. Positioned along Polaris Parkway, The Pointe at Polaris comprises 212,366 square feet of trophy office space and 33,071 square feet of retail space. The office portion is fully leased to tenants such as Bank of America, Fiserv, Power Home Remodeling and Employers Health, while the retail portion is fully leased to tenants such as Kitchen Social, Condado Tacos, Sweetwaters Coffee & Tea and Club Pilates. The property offers connectivity via I-71 and immediate proximity to Polaris Fashion Place, one of the region’s most prominent retail destinations. Derek Fohl, Jim Postweiler, Peter Harwood, Jack Trager and Jim Clark of Newmark represented VanTrust. Gary Carr of Newmark advised the buyer, while Ari Schwartzbard and Bill Weber of Newmark arranged the financing. Newmark’s Jake Paschen provided analytical support for the transaction.
CHICAGO — Apex Systems will relocate its Chicago office from 600 W. Chicago Ave. to 448 N. LaSalle Drive. The technology and professional services firm has signed a long-term lease totaling 15,378 square feet for the entire top floor of the boutique office building. Designed by LJC Design & Engineering and completed in 2021, the 12-story property totals 174,599 square feet and is situated in the city’s River North submarket. The owner, National Real Estate Advisors, recently completed 32,000 square feet of furnished spec suites on the fourth and seventh floors. Amenities include a private tenant rooftop deck, conference facilities, a fitness center and ground-floor retail, including shuffleboard-focused food-and-beverage concept Electric Shuffle. Erica Marshall and Mark Gunderson of Stream Realty Partners represented the landlord. Jeff Skender, Jack Tunnicliff, Mike DeSantis and Mark Moore of Cushman & Wakefield represented the tenant.
CONSHOHOCKEN, PA. — JLL has arranged a $58 million loan for the refinancing of 300 Four Falls, a 298,564-square-foot office building in Conshohocken, a northern suburb of Philadelphia. Built in 2003, 300 Four Falls is a seven-story building that features a redesigned lobby, conference center, café, fitness center and a designated tenant amenity space. At the time of the loan closing, the building was 91.6 percent leased. Chad Orcutt led the JLL team that arranged the five-year, fixed-rate loan through Barclays and an entity managed by Argentic Investment Management LLC. The borrower was Maguire Hayden Real Estate Co.
NEW YORK CITY — TransUnion has signed a 30,140-square-foot office lease in Midtown Manhattan. The provider of credit reporting and monitoring services will occupy the entire sixth floor at 1155 Avenue of the Americas, according to a LinkedIn post by the landlord, The Durst Organization. Tom Bow, Rocco Romeo and Nora Caliban internally represented Durst in the lease negotiations. David Wilson, Jonathan Zeitler, Michael McKenna and Barry Spagna of Cresa, along with internal agent Harriet Gleason, represented TransUnion.
HOUSTON — Locally based developer Midway has completed CITYCENTRE Six, a 320,000-square-foot office building in West Houston. The 19-story building was developed adjacent to a new half-acre urban plaza, which was designed by OJB Landscape Architecture, within the 47-acre mixed-use development of the same name. Building materials supplier Dow is the anchor tenant at CITYCENTRE Six, and the building was delivered 90 percent preleased. Other tenants include VoltaGrid, Octave and Enverus. Construction began in early 2024 and topped out last summer.
HOUSTON — Woodside, a Texas-based real estate private equity firm, has purchased Saddlebrook Place, a four-building, 200,155-square-foot office campus in northwest Houston. Woodside plans to renovate the campus, which was previously known as Heron Lakes, by refreshing common areas and introducing move-in-ready spec suites. Woodside has also tapped Stream Realty Partners to lease Saddlebrook Place. The seller and sales price were not disclosed.
SAN DIEGO — Marcus & Millichap has arranged the sale of La Mesa Mixed-Use, a mixed-use property in San Diego. Ross Sanchez and Nick Totah of Marcus & Millichap represented the seller and buyer in the deal. Located at 6760 University Ave., the 12,196-square-foot property features 13 suites with a mix of office and retail uses, 28 parking spaces, dual access points and high-visibility frontage. At the time of sale, the building was occupied by service-oriented tenants, including beauty, auto, legal and entertainment uses. The property was built in 1976.
ATLANTA — Newmark has arranged a 40,124-square-foot office lease at 1375 Peachtree, a seven-story, 412,000-square-foot office building in Midtown Atlanta. The tenant, Drew Eckl & Farnham, will move into its new space on the sixth floor this December. The law firm is consolidating and relocating from nearby Truist Plaza. Craig Kalinowski, Stewart Thrash, Brad Kirschner, R.J. Zurak and Lindsay Kalski of Newmark represented the landlord, Toronto-based FullG CRE Investments Inc., in the lease transaction. John Winter and L.J. Wilhelmi of Stream Realty Partners represented the tenant. 1375 Peachtree recently underwent a capital improvement program that included a modernized façade, lobby transformation, new fitness center and two new food-and-beverage concepts by Hospitality HQ: a modern French brasserie, Brasserie Lundi, and a chef-driven food hall, The Peacherie, both of which are now open.
MALVERN, PA. — Newmark has arranged an office headquarters lease renewal and extension in Malvern, a western suburb of Philadelphia. The square footage was not disclosed. The tenant is building materials supplier Saint-Gobain, and the space is located within the buildings at 18-20 Moores Road. Craig Scheuerle of Newmark represented Saint-Gobain in the lease negotiations. The landlord, a partnership between Dubai-based Arzan Wealth and Chicago-based 90 North Real Estate Partners, was self-represented.
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