Office

CBRE Brokers Sale of 161,222 SF Office Building in Wilton, Connecticut

by Taylor Williams November 8, 2022

WILTON, CONN. — CBRE has brokered the sale of a 161,222-square-foot office building in Wilton, located in Fairfield County. The property, which is located within a larger, four-building office park, was 42 percent leased at the time of sale. Amenities include a fitness center, basketball and tennis courts, café and a conference center. Jeffrey Dunne, Steven Bardsley and Travis Langer of CBRE represented the seller, an entity doing business as Wilton 40/60 LLC, in the transaction. The team also procured the buyer, an entity managed by Northpath Investments, which acquired the asset for an undisclosed price.

November 8, 2022

Leasing Activity Office Texas

Earthstone Energy Signs 28,894 SF Office Lease Expansion in The Woodlands, Texas

by Taylor Williams November 7, 2022

THE WOODLANDS, TEXAS — Locally based oil and gas firm Earthstone Energy (NYSE: ESTE) has signed a 28,894-square-foot office lease expansion at 1400 Woodloch Drive in The Woodlands, about 30 miles north of Houston. Norm Munoz, Jillian Fredericks and Robert Parlsey of Colliers represented the landlord, an entity doing business as Woodlands Office Equities-’95 LLC, in the lease negotiations. John Hornbuckle of Cypressbrook Co. represented Earthstone Energy.

November 7, 2022

Acquisitions New Jersey Northeast Office

Cushman & Wakefield Brokers Sale of 54,845 SF Office Building in Bernardsville, New Jersey

by Taylor Williams November 7, 2022

BERNARDSVILLE, N.J. — Cushman & Wakefield has brokered the sale of a 54,845-square-foot office building located at 150 Morristown Road in Bernardsville, about 45 miles west of New York City. David Bernhaut, Andy Schwartz, Jordan Sobel and Andre Balthazard of Cushman & Wakefield represented the seller, Denholtz Properties, and procured the buyer, an entity doing business as 150 Morristown Road LLC, in the transaction.

November 7, 2022

Acquisitions Colorado Loans Office Western

Essex Arranges $24.3M Acquisition Loan for Epic One Office Building in Colorado Springs

by Amy Works November 7, 2022

COLORADO SPRINGS, COLO. — Essex Financial Group has secured $24.3 million in financing for Albany Road Real Estate Partners for the acquisition of Epic One, an office building in Colorado Springs. Cooper Williams, Paul Donahue, Nate Schneider and Andrea Mehlem of Essex’s Capital Markets team sourced the five-year, fixed-rate bridge loan for the buyer. The seller and price were not disclosed. Built in 2009, Epic One offers 146,000 square feet of Class A office space, an onsite fitness center and views of Peaks Peak and the Rocky Mountains. At the time of financing, the five-story building was 87 percent leased to a variety of tenants, including those in the aerospace, defense, healthcare, education and technology industries.

November 7, 2022

Content Partner Features Industrial Leasing Activity Loans Midwest Multifamily NAI Northeast Office Retail Southeast Texas Western

Experts Turn to Opportunistic Moves, Lending During Uncertainty of Economic Downturn

by Sarah Daniels November 7, 2022

As we shift through economic uncertainty and changes in the market, commercial real estate businesses are planning for a range of scenarios — and looking to historical trends to make predictions. REBusinessOnline sat down with two industry experts to talk about how this period of uncertainty compares to previous eras and where there may be benefits and opportunities in the current landscape. Jay Olshonsky, president and CEO, and Cliff Moskowitz, executive vice president, at NAI Global spoke about the commercial real estate outlook and the challenges it is likely to face in the immediate future. REBusiness: Looking at the current environment, how does it compare to previous periods of uncertainty? What might be the impacts on commercial real estate? Olshonsky: To start with, we are in a recession. We’ve already had two quarters of negative GDP growth. I think the most fundamental difference between this cycle and a lot of other cycles is that we have extremely low unemployment, differentiating this moment from others, for example, 2009. Even though the most recent job numbers were lower, they were still fairly strong. Jobs create the demand for commercial real estate at all levels, but especially at the services level. We do …

November 7, 2022

Development Office Texas

Harwood Tops Out 27-Story Office Building in Uptown Dallas

by Taylor Williams November 4, 2022

DALLAS — Harwood International has topped out Harwood No. 14, a 27-story office building located within the locally based developer’s 19-block namesake district in Uptown Dallas. Construction of the 360,000-square-foot building began in March 2021, and the property is now 70 percent preleased. The design team includes Dallas-based HDF, Dallas-based Corgan and Tokyo-based Kengo Kuma & Associates. Manhattan Construction is the general contractor for the project, which also houses 17,000 square feet of retail and restaurant space. Full completion is scheduled for 2023.

November 4, 2022

Acquisitions Midwest Office Wisconsin

Colliers Brokers Sale of Historic Office Building in Milwaukee

by Kristin Harlow November 4, 2022

MILWAUKEE — Colliers has brokered the sale of the Global Water Center in Milwaukee for an undisclosed price. The historic office building totals 86,156 square feet and is 87 percent leased to 14 tenants. The property was originally constructed in 1904 for the Molitor Paper Box Co. After Molitor relocated, machinery manufacturer The Murphy Specialty Co. occupied the building until 1938. In 2013, the building was redeveloped in partnership with the Milwaukee Water Council, a nonprofit organization. Since the summer of 2020, the property has welcomed new tenants such as Xylem Water Solutions, Beckhoff Automation, OpenGov and Diverge Translational Science Laboratory. Tom Shepherd and Jennifer Huber-Bullock of Colliers represented the seller, Water Accelerator LLC. The buyer was 247 Freshwater LLC, an affiliate of SixSibs Capital Corp.

November 4, 2022

Agora-Mixed-Use-Project-North-Las-Vegas-NV

Development Healthcare Mixed-Use Nevada Office Retail Western

Agora Realty Starts Construction of 29-Acre Mixed-Use Project in Downtown North Las Vegas

by Amy Works November 4, 2022

NORTH LAS VEGAS, NEV. — Agora Realty and Management has broken ground on a 29-acre mixed-use, master-planned commercial district in downtown North Las Vegas. The redevelopment project is located at the gateway to the city, east of Interstate 5 along Lake Mead Boulevard and north along Las Vegas Boulevard. Slated for completion in 24 months, the $105 million project will include 200,000 square feet of retail space and 125,000 square feet of healthcare and medical office space. Earlier this year, Agora started construction on a 22,000-square-foot medical office building that will include primary care and specialty services. The company plans to create a public space with children’s areas and event venues, as well as a large screen for outdoor presentations and movies. Agora also plans to incorporate micro-business suites that range in size from 150 square feet to 450 square feet. SCA Architects is doing construction drawings, and Mycotoo will work with Agora on design and programming for the micro-businesses and public space.

November 4, 2022

Acquisitions California Office Western

Drawbridge Realty Buys 157,000 SF Uber-Leased Office Building in Sunnyvale, California

by Amy Works November 4, 2022

SUNNYVALE, CALIF. — Drawbridge Realty has acquired 200 S. Mathilda Avenue, a five-story, Class A office/engineering building and parking structure in downtown Sunnyvale. JP Morgan sold the asset for an undisclosed price. Completed in 2010, the property features 157,000 square feet with subterranean parking. Uber occupies the building as an engineering hub as part of its Bay Area global headquarters. The transit-oriented, LEED Silver-certified building is walkable to Sunnyvale’s Caltrain station and is surrounded by residential, retail and lifestyle amenities. Eastdil Secured represented the seller in the transaction.

November 4, 2022

Development Office Southeast Virginia

CoStar Group Breaks Ground on 750,000 SF Office Campus Expansion in Richmond

by John Nelson November 3, 2022

RICHMOND, VA. — CoStar Group has broken ground on an expansion to its corporate campus in Richmond that will bring two new buildings totaling 750,000 square feet. CoStar plans to add 2,000 new jobs to staff the new buildings, specifically in research, technology, operations, software development, marketing and sales roles. Situated on the banks of the James River, the new 21-story tower and five-story multipurpose building, which will house employee and community amenities, will expand the campus to 1 million square feet. CoStar’s current tower is located on the site at 501 S. 5th St. Planned amenities for the campus hub include conference space, fitness and wellness capabilities, an auditorium, more than 2.6 acres of outdoor green space and retail and restaurant options. The new tower is designed to achieve LEED certification and will feature 50,000 square feet of elevated green terraces. Once the site is fully complete, CoStar Group is poised to become the largest tech company and one of the largest private employers in Richmond. The firm currently employs more than 5,300 people in 80 cities across 14 countries.

November 3, 2022

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