PHOENIX — Regent Properties has completed the sale of a two-building flex industrial and office portfolio in Phoenix’s Deer Valley submarket to a private investor for $22.5 million. Geoffrey Turbow, Anthony DeLorenzo and Ashley Brooks of CBRE represented the seller in the transaction. Located within the North Loop 101 Business Center, the single-story buildings were constructed in 2001. The portfolio includes:
DALLAS — Los Angeles-based lending and investment firm CIM Group has provided a $132.5 million construction loan for an office-to-residential conversion project in Dallas. The project represents the second phase of Peridot, a development that converted 11 floors of office space within the 50-story Santander Tower in the downtown area into 291 apartments with one- and two-bedroom floor plans. This next phase will add another 105 apartments. The borrower is Pacific Elm Properties. Santander Tower also houses the 60-room Mint House luxury hotel on floors 49 and 50, which also represents an office conversion. A tentative completion date for the next phase of Peridot was not disclosed.
WESTLAKE, TEXAS — Century21 Mike Bowman has signed an 18,000-square-foot office lease in Westlake, a northern suburb of Fort Worth. The real estate services company is relocating from nearby Grapevine to the first floor of the 274,992-square-foot Building 8 at Terraces at Solana, a 1.1 million-square-foot complex. A partnership between two Chicago-based firms, Glenstar and Singerman Real Estate, owns Terraces at Solana.
STERLING, MASS. — Marcus & Millichap has brokered the $4.2 million sale of a 37,000-square-foot industrial flex building in Sterling, about 50 miles west of Boston. The building sits on a 6.6-acre site at 86 Leominster Road and features four loading docks, a drive-in door and 150 parking spaces. Harrison Klein of Marcus & Millichap represented the seller, which will retain occupancy of a portion of the building, in the transaction. Alan Ringuette of The Stubblebine Co. represented the buyer, which will occupy the remainder. Both parties requested anonymity.
NEW YORK CITY — Massumi + Consoli has signed a 57,988-square-foot office lease in the Bryant Park area of Midtown Manhattan. The law firm has committed to three full floors at 1133 Avenue of the Americas, a 45-story, 1.1 million-square-foot building. Jim Schoolfield and Andrew Coe of JLL represented Massumi + Consoli in the lease negotiations.Tom Bow, Rocco Romeo and Nora Caliban represented the landlord, The Durst Organization, on an internal basis.
WESTLAKE, TEXAS — Pluralsight Inc. has signed a 26,000-square-foot office lease in Westlake, a northern suburb of Fort Worth. The global workforce development company has relocated from Utah to the fourth floor of the 120,543-square-foot Building 6 at Terraces at Solana, a 1.1 million-square-foot complex. A partnership between two Chicago-based firms, Glenstar and Singerman Real Estate, owns Terraces at Solana.
ARLINGTON, TEXAS — Holt Lunsford Commercial has negotiated a 5,731-square-foot office lease in Arlington. The space is located within the 123,000-square-foot building at 700 Highlander Blvd. Vic Meyer and Kareem Amer of Holt Lunsford represented the landlord in the lease negotiations. Ryan Matthews of JLL represented the tenant, Island Imaging Investments.
NEW YORK CITY — Tempus AI Inc., a healthcare technology firm, has signed a 39,565-square-foot office lease at 11 Madison Avenue, a 30-story building in Midtown Manhattan. The lease term is 10 years, and the space spans part of the building’s 17th floor. Peter Michailidis of JLL represented the tenant in the lease negotiations. Brian Waterman, Scott Klau, Eric Harris and Brent Ozarowski of Newmark represented the landlord, SL Green.
PALO ALTO, CALIF. — Gantry has secured a $25 million loan to refinance maturing debt from the acquisition and renovation of a creative office building located at 250 Cambridge Ave. in Palo Alto. The three-story building offers 38,000 square feet of modern creative office space. The property features open air corridors, a central courtyard and maturing landscape aligned with new building systems throughout and enhanced exterior finishes. Robert Slatt, Murphy Osborne and Joe Foley of Gantry represented the borrower, a private real estate investor. The three-year, fixed-rate loan with 30-year amortization was provided by one of Gantry’s correspondent life company lenders. Gantry will service the loan.
WESTLAKE, TEXAS — M1 Support Services has signed a 26,000-square-foot office lease in Westlake, a northern suburb of Fort Worth. The national defense contractor and aerospace company is relocating from Denton to the second floor of the 123,862-square-foot Building 5 at Terraces at Solana, a 1.1 million-square-foot complex. A partnership between two Chicago-based firms Glenstar and Singerman Real Estate, owns Terraces at Solana.
