Thursday, November 20, 2025
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2-Giralda-Farms-Madison-New-Jersey
AcquisitionsNew JerseyNortheastOffice

JLL Brokers Sale of 146,366 SF Office Building in Madison, New Jersey

by Taylor Williams

MADISON, N.J. — JLL has brokered the sale of 2 Giralda Farms, a 146,366-square-foot office building located within the 181-acre Giralda Farms corporate campus in the Northern New Jersey community of Madison. The four-story building, which was constructed in 2001, formerly served as the U.S. headquarters for global shipping giant Maersk before being leased by pharmaceutical company Merck through mid-2025. Jeremy Neuer, Jose Cruz, Ryan Robertson, Tim Greiner and Mike Pietrowicz of JLL represented the undisclosed institutional seller in the transaction. The team also procured the buyer, a subsidiary of Gellert Global Group.

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IndustrialLoansNew YorkNortheastOffice

Largo Capital Arranges $9M Refinancing of Industrial, Office Building in Amherst, New York

by Taylor Williams

AMHERST, N.Y. — Locally based financial intermediary Largo Capital has arranged a $9 million loan for the refinancing of an 81,569-square-foot industrial and office building in Amherst, a suburb of Buffalo. The property address was not disclosed, but the building was originally constructed in 1989 and was fully leased at the time of the loan closing. Jack Philips of Largo Capital originated the debt through an undisclosed bank. The name of the borrower was also not disclosed.

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Leasing ActivityNew YorkNortheastOffice

Plaza College Signs 21,068 SF Lease Expansion, Extension at Queens Office Building

by Taylor Williams

NEW YORK CITY — Plaza College has signed a 21,068-square-foot lease expansion and extension at Forest Hills Tower, a 375,000-square-foot office building in Queens. Plaza College first joined the tenant roster in 2013 and currently occupies floors one through three. The new deal also encompasses the entire sixth floor and brings the private college’s total footprint at the building to about 80,000 square feet. Roy Chipkin of CBRE represented Plaza College in the lease negotiations. Muss Development owns Forest Hills Tower.

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GeorgiaLeasing ActivityOfficeSoutheast

Foundry Commercial Arranges Office Headquarters Lease at Interlock in Atlanta for AMX Logistics

by John Nelson

ATLANTA — Foundry Commercial has arranged a 20,299-square-foot office lease at Interlock, a mixed-use development in Atlanta’s West Midtown district, for AMX Logistics, an asset trucking and third-party logistics firm. The new corporate headquarters lease is expected to create 200 net new jobs for AMX by the end of 2026. Phil Costabile and Lawrence Gellerstedt IV of Foundry represented the tenant in the lease transaction. Aileen Almassy and Will Porter of Partners Real Estate represented the landlord, SJC Ventures.

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3100-Monticello-Dallas
LoansOfficeTexas

JLL Arranges Refinancing of 175,193 SF Office Building in Dallas

by Taylor Williams

DALLAS — JLL has arranged the refinancing of 3100 Monticello, a 175,193-square-foot office building in the Highland Park area of Dallas. The loan amount was not disclosed. The nine-story building was 90 percent leased at the time of sale. Built in the 1980s, the property has been the beneficiary of more than $4 million in upgrades to the lobby, tenant spaces, amenity areas and HVAC systems throughout the hold period of the borrower, Dallas-based Prescott Group. Trey Morsbach, Jarrod McCabe, Jordan Buck and Riley Alam of JLL arranged the five-year loan through an unnamed local bank.

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LoansOfficeTexas

Nuveen Green, Lone Star PACE Provide $5.5M in C-PACE Financing for Irving Office Building

by Taylor Williams

IRVING, TEXAS — Nuveen Green Capital and Lone Star PACE have provided $5.5 million in C-PACE financing for the recapitalization of a 1.1 million-square-foot office building in Irving’s Las Colinas district. The 22-story building at 600 E. Las Colinas Blvd. underwent upgrades in the form of HVAC and automation controls in 2024, allowing the property to qualify for C-PACE financing. The upgrades are expected to reduce the building’s annual electricity consumption by 10 percent. The borrower is Convergent Capital Partners.

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Leasing ActivityOfficeTexas

Neuberger Berman Signs 17,787 SF Office Lease in Uptown Dallas

by Taylor Williams

DALLAS — Neuberger Berman has signed a 17,787-square-foot office lease in Uptown Dallas. The investment management firm will consolidate two existing offices in Dallas into a single space at Rosewood Court, a 19-story building. Mike Quint and Jim Cooksey of Newmark represented the tenant in the lease negotiations. Scott Walker, Kim Brooks and Laney Delin of Transwestern represented the landlord, Rosewood Property Co.

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DevelopmentFloridaOfficeSoutheast

Gatsby Florida to Develop 220,000 SF Office Tower in Palm Beach Gardens, Florida

by John Nelson

PALM BEACH GARDENS, FLA. — Gatsby Florida plans to develop The Modern at Palm Beach Gardens, a 220,000-square-foot office tower in South Florida. The real estate development firm plans to break ground on The Modern in January and deliver the eight-story property in late 2027. Darryl Kaplan of Darryl R. Kaplan Co. is handling the leasing of the project and has preleased approximately 25 percent of the tower’s gross leasable area. Gatsby Florida expects a “rapid lease-up” due to an expected exodus from New York City by major corporations. The Modern will feature a 10,000-square-foot fine dining restaurant, a 4,000-square-foot casual dining eatery and an additional 7,000 square feet of retail space situated under an adjacent 838-space parking garage. Planned amenities include a large rooftop patio with covered seating, a wet bar and restrooms, as well as a fitness center with full-service locker rooms and a media/conference center.

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IllinoisLeasing ActivityMidwestOffice

Zurich Signs 52,000 SF Lease to Relocate Downtown Chicago Office to Willis Tower

by Kristin Harlow

CHICAGO — Zurich North America has signed a 52,000-square-foot office lease at Willis Tower, which is located at 233 S. Wacker Drive in Chicago. Zurich, a global insurer, will occupy floors 53 and 54, relocating its downtown Chicago office from 300 S. Riverside Plaza. The new office will feature innovative workplace design and technology to enable collaboration within a hybrid environment. Zurich’s primary North American headquarters will remain in Schaumburg, Ill., where the company launched its U.S. operations in 1912. Zurich is expected to transition to Willis Tower in summer 2026. Todd Mintz of JLL represented Zurich in the lease. Nikki Kern of The Telos Group LLC represented the landlord, Perform Properties.

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Leasing ActivityNew YorkNortheastOffice

Fox Horan & Camerini Signs 19,200 SF Office Lease in Midtown Manhattan

by Taylor Williams

NEW YORK CITY — Fox Horan & Camerini LLP has signed a 19,200-square-foot office lease in Midtown Manhattan. The lease term is 11.5 years. The law firm will occupy the entire 17th floor of 885 Third Avenue, a 34-story, 600,000-square-foot building that recently underwent a capital improvement program. Chris Mongeluzo and Corey Borg of Newmark represented the tenant in the lease negotiations. SL Green owns 885 Third Avenue.

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