FORT WORTH, TEXAS — Locally based brokerage firm Formation Real Estate has arranged the sale of 1612 Summit Avenue, a 52,000-square-foot office building located just outside of downtown Fort Worth. The building offers flexible floor plans that can accommodate a range of users. Grant Huff of Formation represented the buyer in the transaction and has been retained as the leasing agent. Bill Behr and Gavin Behr of Transwestern represented the seller. Both parties requested anonymity. The new ownership plans to refresh the building’s common areas and deliver customized finish-outs for incoming tenants.
NEW YORK CITY — The United Nations (UN) has signed a 425,190-square-foot office lease renewal and expansion at 2 United Nations Plaza in Midtown Manhattan. The lease encompasses 425,190 square feet across 26 stories, consolidating and expanding the UN’s New York City footprint, including a two-story retail component at 1 United Nations Plaza. The UN will now occupy nearly all the office space at 2 UN Plaza, which spans levels two through 26 at the property. In addition, the lease extension brings together operations previously split between 1 and 2 UN Plaza, which are currently in the midst of a $500 million capital improvement program. Jim Saunders, Jason Perla and Roy Abernathy of Newmark represented the UN in the negotiations. Scott Gottlieb of CBRE represented the landlord, which according to Wikipedia is a partnership between the United Nations Development Corp. and Millennium & Copthorne Hotels.
HOBOKEN, N.J. — Unilever (NYSE: UL) has opened its new, 111,000-square-foot office in Hoboken that will serve as the British conglomerate’s new U.S. headquarters. Unilever will occupy three full floors at 111 River Street, which is part of the three-building, 1.5 million-square-foot Waterfront Corporate Center complex. CBRE represented Unilever in the fall 2024 lease negotiations. New York City-based SJP Properties owns Waterfront Corporate Center, which is also home to tenants such as Lipton, Walmart and Newell Brands.
BELLEVUE, WASH. — Shorenstein Investment Advisers has completed the sales of three office buildings in Bellevue’s The Spring District in two separate transactions. Funds affiliated with Blackstone Real Estate acquired a joint-control interest in Blocks 5 and 6 from Shorenstein, while Drawbridge Realty, a KKR partner, purchased Block 13 from Shorenstein and Wright Runstad & Co. The properties were each developed as build-to-suit office buildings for Meta. Terms of the transactions were not disclosed. Blocks 5 and 6 consist of two, 11-story buildings that total 670,000 square feet. While both buildings are leased long-term to Meta, the entirety of Block 6 was recently subleased to Snowflake, which moved into the building in May. Block 13 is a nine-story, 200,000-square-foot property.
MEDFORD, MASS. — Newmark has negotiated the $11.7 million sale of 101 Station Landing, a 160,482-square-foot office building located north of downtown Boston in Medford. The five-story, transit-oriented building includes a café, outdoor plazas and garage parking. Robert Griffin, Edward Maher, Matthew Pullen, James Tribble, Samantha Hallowell, William Sleeper, Joseph Alvarado and Casey Valente of Newmark represented the seller, James Campbell Co., in the transaction. The team also procured the buyer, locally based investment firm RJK, which plans to implement capital improvements.
NEW YORK CITY — The Malin, a provider of flexible workspace solutions, has opened a 32,700-square-foot space in Manhattan’s Flatiron District. The space spans two floors within 895 Broadway and opened with all 20 private offices and 36 dedicated desks fully leased. The space also features three meeting rooms, a 14-person boardroom, 21 phone booths, two libraries and a mezzanine space for events. The Malin now operates five coworking facilities in New York City and eight across the country.
SACRAMENTO, CALIF. — Marcus & Millichap has arranged the sale of a single-tenant flex property located in midtown Sacramento. Toms Printing sold the asset to Flower Fist Art Market for $1.7 million. Constructed in 1966, the 9,600-square-foot building is located at 1819 E. St. The seller has operated its business at the location since 1989 until closing in 2015. James Beeghly, Russ Moroz, Christopher Drake, Adbullah Sulaiman and Matt Sulaiman of Marcus & Millichap represented the seller in the deal.
HOUSTON — JLL has brokered the sale of Reserve at Westchase, a 194,919-square-foot office building in West Houston. Built in 1999, the four-story building has undergone significant renovations in recent years and offers amenities such as a tenant lounge and conference center. Kevin McConn led the JLL team that represented the seller, Transwestern Investment Group, in the transaction. Michael Johnson and Michael King, also with JLL, arranged acquisition financing through an undisclosed insurance company on behalf of the buyer, DML Capital. The building was 76 percent leased at the time of sale.
NEW YORK CITY — CBRE has negotiated a 15,000-square-foot office lease expansion at 299 Park Avenue in Midtown Manhattan. The tenant, investment advisory firm One William Street Capital Management, now occupies about 45,000 square feet at the 1.2 million-square-foot building. Scott Gottlieb, Andrew Sussman, Ben Friedman and Lewis Gottlieb of CBRE represented the tenant in the lease negotiations. David Falk, Peter Shimkin, Andy Sachs and Eric Cagner of Newmark, along with internal agents Marc Packman and Clark Briffel, represented the landlord, Fisher Brothers.
SCOTTSDALE, ARIZ. — MIG Real Estate has sold Scottsdale Centre, a medical outpatient building in Scottsdale, to an Arizona-based commercial real estate investment company for $44.6 million. Located at 7373 N. Scottsdale Blvd., the 163,311-square-foot Scottsdale Centre is 78 percent leased, of which 66 percent was medical and 34 percent was office tenancy. Current tenants include Palo Verde Cancer Specialists, Prosano Health and various other healthcare providers. Originally constructed in 1984 and upgraded and converted from office to primary medical space post-pandemic, Scottsdale Centre is a two-story building situated on 8.7 acres. The property features 254 surface parking spaces and 466 subterranean parking spaces. Travis Ives, Gino Lollio and Tyler Moses of Cushman & Wakefield’s U.S. Healthcare Capital Markets represented the Newport Beach, Calif.-based seller in the deal. Sheila Bale, Erika Eckblad, Tom Weinhold, Tim Whittemore and Patrick Schrimsher of Cushman & Wakefield provided local market leasing advisory on the sale and have been retained by the buyer to continue handling leasing for the property.