Office

Cushman & Wakefield Brokers $130M Sale of Office Campus in Metro Orlando

by John Nelson November 2, 2016

LAKE MARY, FLA. — Cushman & Wakefield has brokered the $130 million sale of Primera Towers, a five-building, 771,826-square-foot office campus in Lake Mary, a suburb of Orlando. Miami-based Parmenter Realty Partners purchased the portfolio from an ownership group including Miami-based Banyan Street Capital, Los Angeles-based Oaktree Capital Management and Munich-based Balandis AG. Mike Davis, Michael Lerner and Rick Brugge of Cushman & Wakefield represented the seller. The transaction is Orlando’s largest suburban office sale since the disposition of Heathrow International Business Center in 2002.

November 2, 2016

New York Northeast Office Retail

Industrie Capital Partners Launches Leasing at 200,000 SF Office/Retail Project in Brooklyn

by Amy Works November 1, 2016

NEW YORK CITY — Industrie Capital Partners has launched leasing at Roulston House – Gowanus, an office and retail redevelopment in Brooklyn’s Gowanus district. The 200,000-square-foot building features 27,000-square-foot to 41,000-square-foot floorplates for technology, advertising, media and information tenants, as well as food and beverage retailers, and up to 70,000 square feet of ground-floor retail space. Designed by Morris Adjmi, the building also features four expansive roof-deck options with outdoor seating and views of the Brooklyn and Manhattan skylines, bike storage, shower facilities, common areas, interior lounges and parking. Redevelopment of the property is underway, with tenant fit-outs slated to start in late 2017.

November 1, 2016

Office Texas

Gardere Wynne Sewell Becomes Largest Tenant at McKinney & Olive in Dallas

by Haisten Willis November 1, 2016

DALLAS — Gardere Wynne Sewell LLP, a Dallas-based law firm, has moved to the McKinney & Olive office building located in Uptown Dallas. The firm is the building’s largest tenant, occupying 115,000 square feet across four floors. The office houses Gardere’s 287 Dallas-based attorneys and legal professionals. Gensler handled the interior design, with work areas featuring a combination of pods, counter-height tables and dedicated and flex space, as well as individual offices with glass walls. Conference rooms can be adjusted for larger or smaller meetings with demountable walls. Archives are now stored electronically, allowing the firm to allocate more space for multi-purpose meeting rooms instead. The firm’s legal library is also now stored digitally.

November 1, 2016

Office Texas

JLL Secures Lease Extension for NCR Corp. in Plano

by Haisten Willis November 1, 2016

PLANO, TEXAS — JLL has secured an office lease extension on behalf of NCR Corp. for the company’s 50,341-square-foot office at Tennyson Office Center – Building I. The property is located at 6100 Tennyson Parkway in Plano. JLL’s Steve Thelen and Doug Carignan negotiated the lease extension on behalf of the tenant, a computer hardware, software and electronics company. Marc Grossfeld of Sunwest Real Estate Group represented the landlord, Tennyson Office Center LLC.

November 1, 2016

midtown-medical-office-building-fort-worth-texas

Healthcare Office Texas

Stan Johnson Completes $19.2M Sale of Medical Office Building in Fort Worth

by Haisten Willis November 1, 2016

FORT WORTH, TEXAS — Stan Johnson Co., a net lease brokerage firm, has completed the $19.2 million sale of the Midtown Medical Office Building, a 57,404-square-foot, multi-tenant medical office building located at 900 Jerome St. in Fort Worth. Toby Scrivner, Jeff Matulis, Grant Wilkins and Colin Cornell of Stan Johnson’s Healthcare Net Lease Group represented the seller, Ridgeline Capital Partners. Stan Johnson Co. also represented the buyer in the transaction. The property is adjacent to the Plaza Medical Center of Fort Worth, a 216-bed short-term acute care facility, and is part of a mixed-use development with both a hotel and restaurants located on site.

November 1, 2016

Office Texas

Younger Partners Arranges Pair of Office Leases in Dallas

by Haisten Willis November 1, 2016

DALLAS — Younger Partners has arranged a pair of office leases totaling 27,979 square feet at Park Central 3 and Park Central 4 in Dallas. The deals included a renewal expansion and a new tenant. Younger Partners’ Heather Shover, Kathy Permenter and Sean Dalton represented the landlord, Pittsburgh-based McKnight Realty Partners, in the deals. In the first transaction, Holmes Murphy & Associates expanded its lease by 20,504 square feet to a total of 72,477 square feet at Park Central 4, located at 12712 Park Central Dr. in Dallas. Sarah Hinkley and T.D. Briggs of Peloton Commercial Real Estate represented the tenant. In the second transaction, Supply Sanitation Systems LLC signed a new 7,475-square-foot lease at Park Central 3, located 12700 Park Central Drive Transwestern’s Nora Hogan and Jordan Wade represented the tenant.

November 1, 2016

Office Texas

WatchGuard Video to Build $46M Office Facility in Allen

by Haisten Willis October 31, 2016

ALLEN, TEXAS — WatchGuard Video, a manufacturer of law enforcement video systems, will be building its new corporate headquarters in Allen, accommodating up to 700 employees. The build-to-suit project will be completed in two phases for a total of 200,000 square feet of office space and a corporate investment of $46 million. WatchGuard’s new corporate headquarters will be located on 12 acres at the intersection of Exchange and Andrews parkways near Cabela’s and Topgolf, just east of Central Expressway. The first phase of the two-story, 140,000-square-foot office facility is expected to cost $36 million and will open at the end of 2017. The company’s second phase, set for a 2022 completion, will add another 60,000 square feet of space and is expected to require an additional $10 million investment. The company expects to move between 280 and 300 employees into the new office, with a total capacity of around 500 employees before further expansion is necessary. The facility will include open group areas for collaborating, training rooms, an outdoor recreation space, indoor racquetball court, gym, health clinic and a “customer experience room” that allows demonstrations of the company’s products.

October 31, 2016

Office Texas

SVN Arranges Sale of Office Building in Dallas

by Haisten Willis October 31, 2016

DALLAS — SVN has arranged the sale of a four-story office building located at 8344 R.L. Thornton Freeway in Dallas. SVN’s Steve Fithian and Robin Francis-Baker represented both the buyer, 4D Circle LLC, and the seller, Ozinus Thornton LLC, in the transaction. The 50,075-square-foot property was built in 1984 and stands on 2.2 acres. The Class B property is more than 90 percent leased to tenants including Resource One, Lira Bravo Law, GAO Construction Services, Farmers Insurance, Reliable Life Insurance, Tillery & Associates, World Impact Dallas, Elim Health, Texas AFT, Staff Force and Dr. Pedro Zevallos.

October 31, 2016

New Jersey Northeast Office

Vision Real Estate, Rubenstein Partners Sells 185,000 SF Office Building in Hanover, New Jersey, for $95M

by Amy Works October 31, 2016

HANOVER, N.J. — Vision Real Estate Partners and Rubenstein Partners has completed the sale of the MetLife Investments Global Headquarters property located at 67 Whippany Road in Hanover. Salus Government Properties acquired the One MetLife Way property for $95 million. Part of the 194-acre Alcatel-Lucent Campus redevelopment, the 14-acre property features a 185,000-square-foot office building that was built to suit for MetLife under a lease agreement. Robert Donnelly, Rob Donnelly Jr., Marc Rosenberg, Andrew Merin, David Bernhaut, Gary Gabriel and Brian Whitmer of Cushman & Wakefield represented Vision and Rubenstein in the redevelopment and sale.

October 31, 2016

Office Southeast Top Stories Virginia

Atlantic Realty, Angelo, Gordon Acquire Office Complex in Virginia for $78.8M

by John Nelson October 31, 2016

TYSONS, VA. — Atlantic Realty Cos. and New York-based Angelo, Gordon & Co. LP have purchased Tysons Concourse, two Class A office buildings located at 1593-1595 Spring Hill Road in Tysons. The California State Teachers’ Retirement System (CalSTRS) sold the 347,684-square-foot complex for $78.8 million. Situated one block from the newly opened Spring Hill station on Metrorail’s Silver Line, Tysons Concourse features a café, lighted basketball courts, theater-style conference center, fitness center with spa-style locker rooms and covered and surface parking. The buildings, joined by a shared atrium, were 76 percent leased at the time of sale to tenants such as Frontpoint Security, Konica Minolta and MassMutual. The new ownership group plans to invest $6 million in capital improvement to Tysons Concourse. The property’s lobby will be upgraded with marble flooring, a concierge desk and interactive touchscreen directories. Renovations will also include upgrades to the front and rear entrances, new interior finishes and a redesigned tenant entertainment center. The improvement program will also include the transformation of part of the existing sports area into an outdoor lounge with seating and an additional court for playing paddle tennis. Eastdil Secured represented CalSTRS in the transaction. — John Nelson

October 31, 2016

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