CHICAGO — Heartland Alliance has signed a 20,941-square-foot office lease at 55 East Monroe, a 1.3 million-square-foot building in Chicago. The Chicago-based nonprofit, which works to address poverty, will relocate from 208 South LaSalle later this year. The organization is downsizing and upgrading its space by taking a new speculative suite at 55 East Monroe. Heartland’s current building, 208 South LaSalle, is slated to be transformed into residential space. Andrew Davidson and David Burkards of Transwestern Real Estate Services represented the tenant, while Christian Domin of GlenStar represented the undisclosed landlord.
Office
VALPARAISO, IND. — McColly Bennett Commercial Advantage has brokered the $3.9 million sale of Belden Center, a two-building office property in Valparaiso, a city in Northwest Indiana. Located on Eastport Centre Drive, the property totals 27,959 square feet on five acres. Jeff Bennett and Ken Williams of McColly Bennett represented the seller, George Uzelac, a private investor and developer. Uzelac developed the asset in 2008 and his real estate tax firm occupied space on the first floor. The buyer, Haresa Prithyani, plans to redevelop portions of the two buildings into a Montessori School. The buyer currently owns and operates a Montessori School in Chesterton, Ind. Additional tenants at Belden Center — Tech Credit and NYAP — will remain in their spaces. Ryan Peters of Streetfront Real Estate represented the buyer. Dan Duncan of People’s Bank structured an SBA 504 loan for the acquisition.
SALT LAKE CITY — PhyNet Dermatology has leased 14,556 square feet of office space at 650 Main in Salt Lake City. The space is located on the corner of Main Street and 600 South in downtown. The 10-story, Class A office building consists of 335,000 square feet that includes retail space. Jordan Wade and Allie McCracken of Transwestern represented the dermatology practice management company. CBRE has the leasing assignment for the building, which Patrinely owns.
HOUSTON — Fluor Corp. (NYSE: FLR) has signed a 308,186-square-foot office lease in Houston’s Energy Corridor. The Texas-based engineering and construction firm will occupy the entirety of Three Eldridge for the next 12 years. Jon Dutton and Andrew Elliott represented the landlord, Granite Properties, in the lease negotiations on an internal basis. Rick Kaplan, David Guion and Chris Oliver of Cushman & Wakefield represented Fluor Corp., which plans to move about 1,600 employees into the 13-story building in the second quarter of 2024.
WAUKEGAN, ILL. — CBRE has arranged the sale of a 116,500-square-foot office building located at 2100 Norman Drive in the Chicago suburb of Waukegan. The sales price was undisclosed. The property is net leased to UCC Environmental, a provider of environmental solutions for power generation and industrial application worldwide. The asset was constructed in 1989 as a build-to-suit for the company. Gary Nussbaum and Maury Vanden Eykel of CBRE represented the seller, Woodlark Investments LLC. A partnership between ICP Funds and Fulcrum Asset Advisors was the buyer.
CHICAGO — Global scientific and engineering consulting firm Thornton Tomasetti has signed a new lease for 18,943 square feet on the seventh floor at 600 West Fulton, a nine-story office building totaling 214,000 square feet in Chicago’s Fulton Market district. Parkside Realty Inc. owns the building. Thornton Tomasetti is relocating its Chicago-based operations from 330 N. Wabash St. in River North. Molly Carroll and Andy Strand of JLL represented the tenant, while Barb Schenberg of Parkside Realty represented ownership. Originally built in 1895 to house Sears & Roebuck’s original warehouse, 600 West Fulton was converted to loft-style office space in 1982. The building was completely renovated in 2021.
Cordish, Caesars Reveal Plans for 223-Acre Mixed-Use Project in Pompano Beach, Florida
by John Nelson
POMPANO BEACH, FLA. — The Cordish Cos. and Caesars Entertainment Inc. (NASDAQ: CZR) are co-developing The Pomp, a 223-acre mixed-use development in Pompano Beach. The property’s name pays homage to the former Pompano Park racetrack on the project site, which is located 35 miles north of Miami and 10 miles north of Fort Lauderdale. Upon completion, The Pomp will feature 1.3 million square feet of retail and entertainment space, as well as 4,000 residential units, two hotels and approximately 1.4 million square feet of office space. The project will include the existing Harrah’s Pompano Beach casino, which is owned by Caesars. Cordish’s Live! brand will anchor the development’s entertainment and dining component. Called Live! at The Pomp, the brand will offer more than 25,000 square feet of food-and-beverage venues, including a Sports & Social and PBR Cowboy Bar. Sports & Social will occupy a 18,000-square-foot space with features such as an LED media wall, emcees and DJs, live fan-cams, competitions and games. The 7,000-square-foot PBR Cowboy Bar will offer music, bars and a mechanical bull. The venues will open into a central plaza that will host live music, family-friendly events, cultural celebrations, festivals, social activities and experiences and additional dining options. “It’s …
PLANO, TEXAS — General contractor Adolfson & Peterson has completed a 242,000-square-foot office building within International Business Park, a 300-acre campus in Plano by locally based developer Billingsley Co. The five-story building is adjacent to a 175,000-square-foot building that was completed in 2020 and features a fitness center, conference facilities, tenant lounge and a mini-mart. GFF served as the architect for the project, which also included the construction of a 584-space parking garage. JLL has been tapped as the leasing agent.
DETROIT — Friedman Real Estate has negotiated a new office lease for 41,400 square feet at 601 W. Fort St. in Detroit. The property was completed in 1912 and renovated in 2016. The tenant is an international sea and air logistics company and will occupy the building in its entirety. The property is situated near Michigan Central Station, which is currently undergoing the final phase of restoration by Ford Motor Co. Steve Eisenshtadt and Andrew Bower of Friedman represented the undisclosed landlord.
IRVING, TEXAS — Antech Diagnostics, a provider of veterinary diagnostic and lab testing services, has signed a 22,578-square-foot lease renewal and expansion in Irving. The company has committed to Royal Jetstar Tech Center a 92,051-square-foot office and lab building, for an additional 10 years and is taking an additional 9,578 square feet. Jason Finch and Michael Spain of Bradford Commercial Real Estate Services represented the landlord, an entity doing business as Pre DFW Airport LLC, in the lease negotiations. Ryan Buchanan of CBRE represented Antech Diagnostics.