Thursday, December 11, 2025
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AcquisitionsCompany NewsHawaiiIndustrialOfficeRetailTop StoriesWestern

Joint Venture to Acquire Alexander & Baldwin in $2.3B Deal, Take Hawaiian Company Private

by John Nelson

HONOLULU — A joint venture formed by locally based MW Group Ltd. and funds affiliated with Blackstone Real Estate (NYSE: BX) and DivcoWest has entered into a definite merger agreement with Alexander & Baldwin Inc. (NYSE: ALEX), a Honolulu-based owner-operator of shopping centers and other commercial real estate properties. The deal is valued at $2.3 billion, inclusive of outstanding debt, and would take Alexander & Baldwin private. The joint venture plans to acquire all outstanding shares of Alexander & Baldwin for $21.20 per share in an all-cash transaction. The company’s stock price closed last week at $15.22 per share, giving the acquisition price a nearly 40 percent premium. Alexander & Baldwin is the largest owner of grocery-anchored shopping centers in Hawaii. The firm’s overall portfolio spans approximately 4 million square feet and includes 21 retail centers, 14 industrial assets and four office properties, as well as fee interests in 146 acres of ground lease assets. Upon closing of the deal, which is scheduled for the first quarter of 2026, Alexander & Baldwin will become a privately held company but will retain its Honolulu headquarters and maintain its name and brand. The new investment group has announced it will invest $100 million …

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Cain-Watters-Frisco
Market ReportsOfficeTexasTexas Market Reports

Dallas-Fort Worth’s Financial Market Drives Office Usage, Design Innovation

by Taylor Williams

By Joshua Metzger, studio director, principal, Gensler The Emerging Trends in Real Estate 2026 publication jointly released by PwC and the Urban Land Institute (ULI) found that North Texas benefitted from more than 100 corporate headquarters relocations between 2018 and 2024, drawn by a business-friendly climate, robust infrastructure and a growing talent pool. The launch of the Texas Stock Exchange (TXSE), Nasdaq Texas and the reincorporation of the New York Stock Exchange’s regional office from Chicago to Dallas as NYSE Texas are further cementing the area’s status as a financial powerhouse. JPMorgan Chase, Citigroup, Charles Schwab and Fidelity are among the top employers in North Texas while Wells Fargo recently opened a new $455 million campus in Las Colinas. All this momentum and more has made Y’all Street — the moniker used to contrast Texas’ growing market to Wall Street — the second-largest financial services market in the country, trailing only New York City. The sublease availability of office space in Dallas has dropped to 3.6 percent of total inventory, signaling strong demand and confidence in the market. The Dallas neighborhoods of Uptown and Turtle Creek are bracing for a surge in development, while suburban mixed-use projects continue to thrive. …

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4411-San-Felipe-Houston
LoansOfficeTexas

JLL Arranges Loan for Refinancing of Office Building in West Houston

by Taylor Williams

HOUSTON — JLL has arranged a loan for the refinancing of a 4411 San Felipe, a 94,825-square-foot office building located in the River Oaks neighborhood of West Houston. Park House Houston, a private social club, anchors the seven-story building, which was built in 2021 and was fully leased at the time of the loan closing. John Ream and Cassie McIntosh of JLL originated the three-year, floating-rate loan, which has an initial financing of $33 million with additional future funding available, through Tannenbaum Capital Group. The borrower was an entity doing business as PH 4411 Houston RE Holdings.

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AcquisitionsLee & AssociatesOfficeTexas

Avison Young Brokers Sale of 53,673 SF Office Building in Addison, Texas

by Taylor Williams

ADDISON, TEXAS — Avison Young has brokered the sale of Midway Office Park, a 53,673-square-foot office building located in the northern Dallas metro of Addison. Built on 2.7 acres in 1977 and renovated in 1998, the building was roughly 40 percent leased at the time of sale. Bruce Butler, Susan Gwin Burks and John Bowles of Avison Young represented the seller in the transaction. Taylor Stell of Lee & Associates represented the buyer, Urban Infraconstruction, which also plans to occupy a portion of the building.

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Leasing ActivityOfficeTexas

CUBExec Opens 12,520 SF Coworking Space in Uptown Houston

by Taylor Williams

HOUSTON — CUBExec has opened a 12,520-square-foot coworking space in Uptown Houston. The space spans the sixth floor of the building at 1700 Post Oak Blvd., which is known locally as BLVD Place., and features 50 private workspaces and collaborative meeting spaces that can accommodate up to 15 people. Houston-based Whitestone REIT owns BLVD Place.

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18012-Cowan-Irvine-CA
AcquisitionsCaliforniaOfficeWestern

NAI Capital Negotiates Sale of 26,481 SF Creative Office Building in Irvine, California

by Amy Works

IRVINE, CALIF. — NAI Capital has directed the purchase of a creative office building located at 18012 Cowan in Irvine. A private investor acquired the asset from an undisclosed seller for $9.2 million, or $345 per square foot. John Manion of NAI Capital represented the buyer, while Brian Garbutt and Alejandro Sherratt of Lee & Associates represented the seller in the transaction. The freestanding, two-story building offers 26,481 square feet of creative office space. The property was originally built in 1985 and underwent extensive renovations in 2020. The asset features high-image creative office space with exposed ceilings, an open-concept kitchen and an elevator serving the subterranean parking garage to the first and second floors. Additionally, the building features second-floor outdoor patios and prominent building-top signage.

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Leasing ActivityNew YorkNortheastOffice

Electra USA Signs 25,331 SF Office Lease in Midtown Manhattan

by Taylor Williams

NEW YORK CITY — Electra USA has signed a 10-year, 25,331-square-foot office lease in Midtown Manhattan. The electrical contractor will occupy the entire fourth and 31st floors at 10 E. 53rd St., a 37-story building that recently underwent a capital improvement program that upgraded the lobby, façade and outdoor plazas. Joseph Cirone, Patrick Dugan and Zachary Price of CBRE represented the tenant in the lease negotiations. The landlord, SL Green, was self-represented.

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AcquisitionsNew JerseyNortheastOffice

Cushman & Wakefield Brokers Sale of 15,879 SF Office Building in Denville, New Jersey

by Taylor Williams

DENVILLE, N.J. — Cushman & Wakefield has brokered the sale of a two-story, 15,879-square-foot office building located at 165 E. Main St. in the Northern New Jersey community of Denville. Andrew Schwartz, Jordan Sobel, André Balthazard and Dan Bottiglieri of Cushman & Wakefield represented the seller the transaction. Toni Kaufmann of Realty Executives represented the new owner-occupier, which also requested anonymity.

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LouisianaMarket ReportsOfficeSoutheastSoutheast Market Reports

New Orleans CBD Continues to Transition from Office-Centric to 24/7 Destination

by John Nelson

One cannot talk about, analyze, nor understand the New Orleans Central Business District (CBD) office market without a corresponding discussion of the entire CBD, not just the office building submarket. This is especially true when we look at the evolution of the New Orleans CBD since the late 1980s, and, more specifically to this article, since Hurricane Katrina.  The New Orleans CBD office market is still the largest office submarket in this region. The submarket contains approximately 10.3 million rentable square feet. The balance of our submarkets (East Metairie, West Metairie, Kenner, Elmwood, West Bank, New Orleans East and the Northshore) contain a total of 8.6 million rentable square feet.  More importantly, the CBD remains home for most of New Orleans’ “corporate” tenants, virtually all the region’s major law firms and financial institutions. That is the good news.  However, the CBD has been transformed over the past 30+ years — and especially for the past two decades after Hurricane Katrina — from a traditional office-centric CBD to a mixed-use downtown area. The supply of office space in the CBD has shrunk from 70 buildings and 16.5 million rentable square feet in 1991, to 50 buildings and 13.8 million rentable square …

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AcquisitionsOfficeTexas

JLL Brokers Sale of 130,735 SF Office Building in West Houston

by Taylor Williams

HOUSTON — JLL has brokered the sale of 5858 Westheimer, a 130,735-square-foot office building located in the Tanglewood area of West Houston. The eight-story building was constructed in 1981 and was 47 percent leased at the time of sale. Rick Goings and Dawson Hastings of JLL represented the seller, a special servicer, in the transaction. The buyer, an entity doing business as Geirin LandPark Westheimer LLC, plans to implement a value-add program that will upgrade the lobby, common areas, signage and spec suites.

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