NEW YORK CITY — Cushman & Wakefield has negotiated a 25,000-square-foot office lease at 48 W. 25th St. in Manhattan’s Madison Square Park area. Originally constructed in 1920, the building rises 12 stories and totals 127,130 square feet. Ethan Silverstein, Theodora Livadiotis and Bruce Mosler of Cushman & Wakefield represented the landlord, locally based investment manager Savanna, in the lease negotiations. Anthony LoPresti, also with Cushman & Wakefield, represented the tenant, MediaCo Holding Inc. The space comprises the entire second and third floors and will house the broadcast operations of two of the tenant’s local radio stations.
NEW YORK CITY — Architecture Research Office (ARO), a design and consulting firm, has signed a 10,000-square-foot office lease at 1 Willoughby Square in Brooklyn. Designed by FXCollaborative, which also serves as the anchor tenant, 1 Willoughby Square is a 34-story, 500,000-square-foot building in the downtown area. Nick Farmakis and Kate Walker of Savills represented ARO in the lease negotiations. Paul Amrich, Neil King, Zac Price, Alex D’Amario and James Ackerson of CBRE represented the landlord, JEMB Realty Corp.
CHICAGO — Skender has completed a renovation of 225 W. Wacker Drive, a 31-story office tower totaling 651,000 square feet in Chicago’s West Loop. San Francisco-based Spear Street Capital owns the building. Valerio Dewalt Train served as architect and Kohn Pedersen Fox Associates was the designer. Skender began the process of renovating the building’s lower lobby and Franklin Street entrance, fourth-floor amenity space and roof deck in summer 2021. Connected to the fourth-floor interior space is a completely redesigned open-air terrace with gardens. Cushman & Wakefield served as manager and owner’s representative on the project. OvS served as landscape architect for the terrace.
OVERLAND PARK, KAN. — Hill’s Pet Nutrition has unveiled plans to relocate its global and U.S. headquarters to the Aspiria campus in Overland Park. The company is currently based in Topeka and will continue to invest in its science, technology and manufacturing hubs in Topeka. Hill’s expects to move offices in the fourth quarter of this year and will occupy roughly 100,000 square feet. Occidental Management owns Aspiria, which is the redevelopment of the former Sprint campus.
SAN ANTONIO — CBRE has arranged an undisclosed amount of acquisition financing for Network Crossing, a 143,831-square-foot office complex in northwest San Antonio. Network Crossing consists of five buildings that were 85 percent leased at the time of the loan closing. Brock Hudson and Beau Brehm of CBRE arranged the five-year, fixed-rate loan on behalf of the borrower, Houston-based investment firm Fuller Interests. The direct lender was not disclosed.
GRAND PRAIRIE, TEXAS — SkyWalker Property Partners has sold Brookhollow Riverside, a 119,121-square-foot office building in the central metroplex city of Grand Prairie. Tom Strohbehn and Scott Farber of Younger Partners represented the seller in the transaction. Houston-based Silver Creek Realty Advisors purchased the building for an undisclosed price via a 1031 exchange. SkyWalker Property Partners originally purchased the building, which was 90 percent leased at the time of sale, in 2006.
BILLERICA, MASS. — Newmark has negotiated a 30,665-square-foot lease at Axis Park North, a six-building, 450,000-square-foot office and life sciences campus in Billerica, a northern suburb of Boston. Rory Walsh, Richard Ruggiero, Torin Taylor and Matthew Adams of Newmark represented the landlord, a partnership between Boston-based Camber Development and Wheelock Street Capital, in the lease negotiations. Kevin Kennedy and Tom Hovey of CBRE represented the tenant, ASMPT AEi, a provider of automated cameras and other digital technologies.
CHICAGO — NewCold has expanded its office lease at 500 W. Madison Street in Chicago from 6,000 square feet to 35,564 square feet. The office serves as the company’s North American headquarters. The 40-story, Class A office building is known as Accenture Tower. Built in 1987, the property totals 1.4 million square feet and features a two-level fitness center with a basketball court along with a conference center and tenant lounge. KBS acquired the building in 2013. Dougal Jeppe of Colliers represented NewCold, which is an advanced automated warehouse and cold chain logistics company.
HOUSTON — Partners, the locally based investment and brokerage firm formerly known as NAI Partners, has arranged the sale-leaseback of Gemini Plaza, a 158,976-square-foot office building in Houston. Gemini Plaza is situated adjacent to the NASA Johnson Space Center on the city’s southeast side. Cary Latham, Wyatt Huff and Dan Boyles represented the seller, Universal Weather & Aviation LLC, in the transaction. Noah Kruger of Savills represented the buyer, JMK5 Holdings.
HOUSTON — Colliers has arranged the sale of a 73,019-square-foot office building located at 550 Greens Parkway in the Greenspoint area of Houston. According to real estate auction house Ten-X, the property was built on 4.6 acres in 1999 and was 36 percent leased at the time of sale. David Carter of Colliers represented the seller, Montco Lots, in the transaction. The name and representative of the buyer were not disclosed.