Office

West Michigan Transport to Open 10,000 SF Office in Grand Rapids

by Kristin Harlow July 17, 2023

GRAND RAPIDS, MICH. — West Michigan Transport, a freight brokerage headquartered in Holland, Mich., is opening a new office in Grand Rapids. The 10,000-square-foot office is scheduled to open in September. West Michigan Transport says the expansion to Grand Rapids comes in response to the increasing demand for logistics solutions. The company plans to hire 100 individuals, ranging from entry-level sales and operational roles to experienced account managers. Hillary Taatjes Woznick of NAI Wisinski of West Michigan represented the tenant, while colleagues Mary Anne Wisinski-Rosely and Jason Makowski represented the undisclosed landlord.

July 17, 2023

Leasing Activity Office Texas

REOC San Antonio Secures 5,300 SF Office Lease Extension

by Taylor Williams July 17, 2023

SAN ANTONIO — REOC San Antonio has secured a 5,300-square-foot office lease extension at 555 E. Ramsey Road in San Antonio. According to LoopNet Inc., the property was built in 1997 and totals 26,738 square feet. Blake Bonner of REOC San Antonio represented the landlord in the lease negotiations. Jamie Bracken of Cushman & Wakefield represented the tenant, Automated Logic Corp, a provider of automated building systems.

July 17, 2023

Leasing Activity New York Northeast Office

JLL Negotiates 19,326 SF Office Lease in Manhattan’s NoMad District

by Taylor Williams July 17, 2023

NEW YORK CITY — Lockton Re, a provider of reinsurance services, has signed a 19,326-square-foot office lease at 261 Fifth Avenue in Manhattan’s NoMad district. The company is relocating from 48 West 25th St. to the 10th floor of the 25-story, 450,000-square-foot building. Don Preate of JLL represented the tenant in the lease negotiations. Andrew Wiener, Tim Parlante and David Turino internally represented the landlord, The Feil Organization, which recently implemented a $20 million value-add program at the building.

July 17, 2023

Features Office

JLL Report: Central Business Districts Will Evolve in Light of Vacant Offices

by Jeff Shaw July 17, 2023

It will likely surprise no one, given the wealth of coverage on the issue of reduced office usage, that office vacancy is the top challenge currently facing central business districts (CBDs) worldwide, according to a recent report by JLL. Long and costly commutes, property obsolescence, competition from other submarkets and unstable demand are the other top hurdles for CBDs. Far from pessimistic though, the report — The Future of the Central Business District — says that CBDs can and will adapt to the new landscape, with government officials and commercial real estate players holding the power to “unlock the future potential of CBDs.” Hybrid work presents a hindrance According to research presented in the report, roughly 60 percent of workers “expect flexible arrangements” when it comes to their presence in their offices, with hybrid working arrangements (comprising schedules that are partly remote and partly in-office) becoming increasingly popular. Workers, the report states, now spend an average of 2.3 days of the week remotely, and office vacancy in the United States sits at 20.2 percent. Aside from the implications for the office sector, the woes of which are well documented, the absence of workers from offices translates to reduced foot traffic in retail …

July 17, 2023

Leasing Activity Office Texas

Waste Connections Signs 116,817 SF Office Lease Renewal, Expansion in Metro Houston

by Taylor Williams July 14, 2023

THE WOODLANDS, TEXAS — Waste Connections US Inc. has signed an office lease renewal and expansion in The Woodlands, about 30 miles north of Houston. The publicly traded waste management company now occupies 116,817 square feet across five and a half floors at 3 Waterway Square, an 11-story building located within The Woodlands Town Center mixed-use development. Jason Whittington of Partners Real Estate represented the tenant in the lease negotiations. Robert Parsley, Norman Munoz and Jillian Fredericks with Colliers represented the landlord, The Howard Hughes Corp.

July 14, 2023

Development Office Texas

Crest Builders Completes 15,000 SF Interior Office Renovation Project in Houston

by Taylor Williams July 14, 2023

HOUSTON — General contractor Crest Builders has completed a 15,000-square-foot interior office renovation project in Houston for DECISIO Health, which provides platforms and solutions for aggregating data from electronic health records. Houston-based Griffin Partners owns the building at 520 Post Oak Blvd. Ware Malcomb designed the space. Edward Edson of Colliers represented DECISIO Health in the lease negotiations, and Jill Nesloney of Lee & Associates represented Griffin Partners.

July 14, 2023

Leasing Activity Office Texas

Austin Circuit Design Relocates Office to 7,600 SF Space in Richardson, Texas

by Taylor Williams July 14, 2023

RICHARDSON, TEXAS — Austin Circuit Design has relocated its office from the northeastern Dallas suburb of Garland to a 7,600-square-foot space in nearby Richardson. The new office is in Campbell Square, which totals 84,432 square feet and is located within Richardson IQ, a 1,200-acre innovation and tech hub. Maverick Commercial Real Estate owns Campbell Square.

July 14, 2023

Leasing Activity Office Texas

United Properties Opens New Office at Colorado Tower in Downtown Austin

by Taylor Williams July 14, 2023

AUSTIN, TEXAS — United Properties, a developer with offices in Colorado and Minnesota and Texas, has opened a new, 3,165-square-foot office on the 15th floor of Colorado Tower in downtown Austin. The company has relocated from 1617 W. Sixth St. Atlanta-based Cousins Properties owns Colorado Tower, which spans 373,000 square feet and offers amenities such as a fitness center, conference facility and onsite food-and-beverage options.

July 14, 2023

Acquisitions New York Northeast Office

Kaufman Organization Acquires Manhattan Office Building for $92.5M

by Taylor Williams July 14, 2023

NEW YORK CITY — The Kaufman Organization has acquired 875 Avenue of the Americas, a 26-story, 265,000-square-foot office building in Manhattan’s NoMad neighborhood, for $92.5 million. The building was originally constructed in 1926. Chris Varjan of Lee & Associates led a team that represented the seller, which had owned the property since 1975, in the transaction.

July 14, 2023

Development Florida Office Southeast

CRBC to Break Ground on 26-Story Office Tower, Parking Garage in Downtown West Palm Beach

by John Nelson July 13, 2023

WEST PALM BEACH, FLA. — Cohen Brothers Realty Corp. of Florida (CRBC) plans to soon break ground on West Palm Point, a 26-story office tower located at the intersection of Okeechobee and Quadrille boulevards in downtown West Palm Beach. Situated near the Intracoastal Waterway, the 2.4-acre development will comprise a full city block and includes an adjacent, 10-story parking structure that will feature a rooftop gathering area with a café, shaded seating and a water feature. Designed by Pelli Clarke & Partners and Nichols Brosch Wurst Wolf, the office building will have a landscaped rooftop park, 14,416 square feet of ground-floor retail space, multiple fast-casual restaurants, a fitness center and conference rooms. John Criddle, Joe Freitas and Max Pawk of CBRE will lead local marketing and leasing efforts in partnership with Marc Horowitz from Cohen Brothers in New York. CRBC plans to begin construction on West Palm Point in the fourth quarter, with expected tenant occupancy beginning in the third quarter of 2026.

July 13, 2023

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