Tuesday, May 6, 2025
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Office

DevelopmentGeorgiaOfficeSoutheast

Shorenstein Begins Renovations at 14th & Spring Office Building in Midtown Atlanta

by John Nelson

ATLANTA — Shorenstein Investment Advisors has begun capital improvements at 14th & Spring, a 12-story, 324,000-square-foot office building located at 1150 Spring St. NW in Midtown Atlanta. The renovations include a complete repositioning of the lobby and expanded first-floor amenities, including an onsite café and bar, fitness center, conference center and the connected outdoor terrace. The overhaul will also include the build-out of a full floor of speculative office suites on the third floor totaling 28,500 square feet. Locally based law firm Cushing, Morris, Armbruster, & Montgomery LLP has preleased one of the new spec suites, with plans to relocate from its current downtown office this summer. Additionally, Shorenstein has partnered with George Banks for a new eatery at 14th & Spring. Shorenstein has owned the office building since July 2024 and has since executed 100,000 square feet of leases, including HTNB Corp.’s three-floor lease last fall. The office building was delivered in 2022. ASD | SKY is serving as the design architect for the lobby repositioning and first-floor amenity package, while Murphy Meyers is the design architect for the spec suites. Jeff Keppen, Kyle Kenyon and Nicole Goldsmith of CBRE are the exclusive leasing agents for the property.

Continue Reading
FacebookTwitterLinkedinEmail
CaliforniaLoansOfficeWestern

KBS Receives $480M Refinancing for National Office Portfolio

by Amy Works

NEWPORT BEACH, CALIF. — California-based investment firm KBS has received loan facilities totaling approximately $480 million for the refinancing of a portfolio of office buildings in Texas, Minnesota and California. The Texas component includes Legacy Town Center, a three-building, 522,043-square-foot complex in Plano, and Sterling Plaza, a 313,609-square-foot building that was originally built in 1984 in the Preston Center submarket of Dallas. The Minnesota building is 60 South Sixth, a 40-story complex in downtown Minneapolis. In California, the facility covers Ten Almaden, a 17-story building in downtown San Jose, and two of the three buildings within the Towers at Emeryville development, which is also located in the Bay Area. The facility extends the loan commitment to January 2027, with two additional 12-month extension options and provides for $15 million in new funding for leasing costs and related capital improvements and other property-level expenses.

Continue Reading
FacebookTwitterLinkedinEmail
1601-Vine-St-Los-Angeles-CA
AcquisitionsCaliforniaOfficeWestern

Kingsbarn Acquires Eight-Story Office Property Along Hollywood’s Walk of Fame

by Amy Works

LOS ANGELES — Kingsbarn Realty Capital has purchased 1601 Vine Street, an office building in Los Angeles’ Hollywood submarket, for an undisclosed price. Developed by J.H. Synder Co. and designed by Ware Malcomb, the eight-story building offers 115,000 square feet of office space and five levels of underground parking. Skims Body Inc., an American shapewear and clothing brand, has occupied the building as its corporate headquarters since mid-2023, with leasing through mid-2028. The transaction team included Los Angeles-based Hankey Capital, IBI Volcano Investments and Newmark.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsGeorgiaOfficeSoutheast

Atlanta Braves Holdings Acquires 763,465 SF Pennant Park Office Complex Adjacent to Truist Park

by John Nelson

ATLANTA — Atlanta Braves Holdings Inc., owner and operator of the Atlanta Braves MLB team, The Battery Atlanta mixed-use development and Truist Park in Cobb County, has purchased an adjacent 763,465-square-foot office complex. The property, called Pennant Park, is situated on approximately 34 acres and comprises six office buildings and more than 2,700 parking spaces. The seller, Rubenstein Partners, has owned Pennant Park since 2017, the year that the Braves began playing at nearby Truist Park (formerly SunTrust Park). The sales price was not disclosed. The campus was more than 80 percent leased at the time of sale to 24 tenants, including The Home Depot, Juneau Construction Co. and TK Elevator. The acquisition expands the Atlanta Braves Holdings’ real estate portfolio by 30 percent. Pennant Park comprises two components: Pennant Commons (four buildings and a communal plaza known as The Quad) and Pennant View (two buildings). Amenities at the office park include 24-hour security, onsite engineering, a 48-person conference center, two fitness centers, onsite car detailing services, two cafés, Social Kitchen tenant lounge and cafe, a bocce ball court, putting green, multi-sport game court, helipad, lake with jogging trail and a Cobb Community Transit System bus stop.

Continue Reading
FacebookTwitterLinkedinEmail
FloridaLeasing ActivityOfficeSoutheast

CP Group Signs General Dynamics to 50,368 SF Office Lease Renewal in Orlando

by John Nelson

ORLANDO, FLA. — CP Group has signed General Dynamics Corp., a publicly traded aerospace and defense corporation, to a 50,368-square-foot office lease renewal in Orlando. The Reston, Va.-based tenant will continue to occupy Resource Square III, an office building located within Central Florida Research Park. Diane Drobia and Chris Sproles of CBRE represented the tenant in the lease negotiations. Madison Kimbell of JLL represented CP Group. In addition to General Dynamics, other recent leases at Resource Square III include American Electronic Warfare Associates Inc. signing a 10,420-square-foot lease and Florida Office Group renewing its 4,249-square-foot lease. Central Florida Research Park is situated adjacent to the University of Central Florida (UCF). CP Group has owned Resource Square I and III within the park since January 2020.

Continue Reading
FacebookTwitterLinkedinEmail
One-NoMad-Manhattan
DevelopmentNew YorkNortheastOffice

Kaufman, Beacon Underway on Repositioning of 265,000 SF Manhattan Office Building

by Taylor Williams

NEW YORK CITY — A partnership between local owner-operator The Kaufman Organization and Beacon Capital Partners is underway on the repositioning of 875 Sixth Avenue in Manhattan’s NoMad district. The 26-story, 265,000-square-foot office building, which is known locally as One NoMad, was originally constructed in 1926. Designed by Olson Kundig, the repositioning will feature a redesigned street-level facade with a revised steel and aluminum curtain wall system with stone elements that complement the historic design of the upper floors. The project will also introduce a steel canopy at the main entry area on West 31st Street and deliver improved connectivity between the lobby and concourse-level space. The development team will also expand the property’s shared amenity spaces via the addition of flexible conference, hospitality and lounge spaces. Lastly, construction is underway on five new suites on the 18th and 19th floors of the building that range in size from 2,700 to 5,700 square feet. The full repositioning is expected to be complete before the end of the year.

Continue Reading
FacebookTwitterLinkedinEmail
Leasing ActivityNew YorkNortheastOffice

Specialist Staffing Group Signs 13,715 SF Office Lease in Lower Manhattan

by Taylor Williams

NEW YORK CITY — Specialist Staffing Group, which coordinates talent placement within the STEM fields, has signed a 13,715-square-foot office lease in Lower Manhattan. The space is located on the 79th floor of One World Trade Center. Scott Bogetti and William Demuth of Savills represented the tenant in the lease negotiations. David Falk, Peter Shimkin, Hal Stein, Jason Greenstein and Nathan Krop of Newmark, along with internal agents Eric Engelhardt and Karen Rose, represented the landlord, a partnership between The Durst Organization and The Port Authority of New York & New Jersey.

Continue Reading
FacebookTwitterLinkedinEmail
Leasing ActivityOfficeTexas

Anderson Merchandisers Signs 30,342 SF Office Headquarters Lease in Plano

by Taylor Williams

PLANO, TEXAS — Anderson Merchandisers, which provides both data analytics and supply chain solutions to the retail industry, has signed a 30,342-square-foot office headquarters lease in Plano. The company is relocating from Granite Park to the entire top floor of the 210,000-square-foot Apex at Legacy building. Conor McCarthy and Jayme Schutt of JLL represented the tenant in the lease negotiations. John Brownlee, Gini Rounsaville and Michael Williams, also with JLL, represented the landlord, a partnership between Monarch Alternative Capital and Tourmaline Capital Partners.

Continue Reading
FacebookTwitterLinkedinEmail
FloridaLeasing ActivityOfficeSoutheast

Foot Locker Moves Corporate Headquarters to St. Petersburg, Florida

by John Nelson

ST. PETERSBURG, FLA. — Footwear and apparel retail giant Foot Locker Inc. has officially moved its corporate headquarters from New York City to the Tampa Bay city of St. Petersburg. The Feil Organization has signed the retailer to a 110,998-square-foot office lease at 570 Carillon Parkway, a Class A office building within Carillon Business Park. Feil recently renovated the office building’s lobby and common areas. Amenities at the five-story, 250,000-square-foot office building include a café and a fitness center. Lee Winter and Caleb Lewis of JLL represented Foot Locker in the lease negotiations. Barry Hanerfeld and Molly Molloy Catlett of CBRE represented Feil alongside in-house representative Andrew Wiener.

Continue Reading
FacebookTwitterLinkedinEmail
2183-Fairview-Rd-Costa-Mesa-CA
AcquisitionsCaliforniaOfficeWestern

Royal Tulip Investments Buys Newport Victoria Plaza Office Building in Costa Mesa, California

by Amy Works

COSTA MESA, CALIF. — Royal Tulip Investments has acquired Newport Victoria Plaza, an office building located at 2183 Fairview Road in Costa Mesa. A Beverly Hills, Calif.-based private seller sold the asset for $7.1 million, or $165 per square foot. The buyer plans to relocate its offices to the 43,250-square-foot building and lease out the remaining space. At the time of sale, the property was 35 percent occupied. Eric Smith of Voit Real Estate Services represented the buyer, while Anthony DeLorenzo, Sammy Demo and Bryan Johnson of CBRE represented the seller in the deal.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts