Thursday, May 1, 2025
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Office

Valley-National-Bank-Morristown-New-Jersey
DevelopmentNew JerseyNortheastOffice

SJP, Scotto Top Out 120,000 SF Headquarters Project for Valley National Bank in Morristown, New Jersey

by Taylor Williams

MORRISTOWN, N.J. — A partnership between New York City-based SJP Properties and locally based developer Scotto Properties has topped out the new headquarters project for Valley National Bank in the Northern New Jersey community of Morristown. Construction began in early 2022, and full completion is slated for spring 2023. Upon delivery, Valley National Bank will relocate from Wayne, N.J. The company ultimately plans to employ about 650 people at its new campus, which will also house 14,500 square feet of commercial space, including a Valley National retail branch. Gensler designed the project.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsAffordable HousingGeorgiaMultifamilyOfficeSoutheast

Invest Atlanta Board Approves $39M Acquisition Financing for Two Peachtree Office Tower in Atlanta

by John Nelson

ATLANTA — The City of Atlanta has received approval for $39 million in acquisition financing for the purchase of Two Peachtree Street, a 41-story office building located in downtown Atlanta. The city’s economic development authority, Invest Atlanta, will purchase the building, which the city plans to convert to a mixed-income, mixed-use development. Invest Atlanta is acquiring the property on behalf of the city and plans to hold the property until a redevelopment partner is selected. Built in 1968, the building is currently owned by the State of Georgia.

Continue Reading
FacebookTwitterLinkedinEmail
District of ColumbiaLeasing ActivityOfficeSoutheast

Mitsui Fudosan America Reaches Deal With Industrious for 40,653 SF Space at Homer Building in D.C.

by John Nelson

WASHINGTON, D.C. — Mitsui Fudosan America (MFA) has signed a partnership agreement with Industrious, a flexible workplace company, for the use of 40,653 square feet of space at The Homer Building, an office building located at 601 13th St. NW in Washington, D.C. Located on the 12th floor, the space will feature private offices and a total of over 500 seats. The Industrious space at The Homer is scheduled to open in early 2023. Located atop Metro Center Station in D.C.’s East End neighborhood, The Homer Building features a rooftop deck, modernized elevator mechanicals and cabs, a four-level parking garage, full-service fitness center and a Panera Bread and coffee shop on the ground level.

Continue Reading
FacebookTwitterLinkedinEmail
GeorgiaLeasing ActivityOfficeSoutheast

Ardent Cos. Completes Five New Office Leases, 11 Renewals at Piedmont Center in Atlanta

by John Nelson

ATLANTA — The Ardent Cos. has executed five new leases, 11 renewals and one expansion at Piedmont Center, a 2 million-square-foot office campus located in the Buckhead neighborhood of Atlanta. New tenants at Piedmont Center, which will absorb 35,650 square feet of space, include Emory Investment Management, Harry Norman, Maxis, Findling Law and Relatient. Chad Koenig and Katelyn Fabien of Cushman & Wakefield represented Emory Investment Management, John Winter of Cushman & Wakefield represented Harry Norman, Jill Goldberg of Goldberg O’Malley and Steve Barton of CBRE represented Maxis, and Relatient was represented by Joey Kline of JLL in the lease negotiations. Hudson Lambert Parrott Walker LLC added 4,426 square feet of space to its occupancy of Tower 15 at the campus. The lease renewals and expansion account for 42,359 square feet. JLL and Cushman & Wakefield handle leasing for Piedmont Center on behalf of Ardent Cos.

Continue Reading
FacebookTwitterLinkedinEmail
Leasing ActivityOfficeTexas

Canyon Partners Signs Office Lease Renewal in Dallas’ Harwood District

by Taylor Williams

DALLAS — Investment management firm Canyon Partners has signed an office lease renewal within the Harwood District, a development that spans 19 city blocks in Uptown Dallas. The square footage of the lease was not disclosed. The tenant will continue to occupy the second floor of Harwood No. 2, which was originally built in 1996 and is now fully leased. Andy Leatherman of JLL represented Canyon Partners in the lease negotiations. Hannah Mesh and Kelly Whaley represented the landlord, Harwood International, on an internal basis.

Continue Reading
FacebookTwitterLinkedinEmail
IllinoisLeasing ActivityMidwestOffice

IWG to Open Three New Flexible Workspaces in Illinois

by Kristin Harlow

CHAMPAIGN, EDWARDSVILLE AND ROCKFORD, ILL. — IWG, a provider of flexible workspaces, plans to open three new locations in Illinois. The company states that the demand for hybrid working continues to grow with companies of all sizes. IWG will open a new headquarters center at 206 N. Randolph St. in Champaign. Additionally, IWG will open two Regus centers at 101 W. Vandalia St. in Edwardsville and 220 E. State St. in Rockford. Timelines for the openings were not provided. IWG opens the vast majority of its new locations in partnership with commercial real estate owners, developers and franchisee investors.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsGeorgiaOfficeSoutheastTop Stories

KDC Acquires Two Office Towers Totaling 1.6M SF in Metro Atlanta

by Jeff Shaw

DUNWOODY, GA. — Dallas-based corporate development and investment firm KDC has acquired two office buildings totaling more than 1.6 million square feet in Park Center, a 17-acre master-planned, transit-oriented project in the northern Atlanta suburb of Dunwoody. Park Center Buildings 2 and 3 were acquired in a sale-leaseback deal with insurance giant State Farm, along with approximately 40,000 square feet of retail space, a parking structure with more than 4,000 parking spaces and a 2.6-acre parcel for future development. The price was not disclosed. Park Center Building 2 was completed in 2020 and comprises 621,000 square feet, including 39,000 square feet of retail space. Park Center Building 3 is a 440,000-square-foot office tower completed in 2021. KDC described the properties as “a state-of-the-arm, Class A office project.” KDC was the original developer of Park Center. The company purchased the property with its internal capitalization established with an investment by Cadillac Fairview in 2021, along with ongoing ownership and funding from KDC and Compatriot Capital. Northmarq’s Dallas debt and equity team, including Phillip Askew, Ronald Reese and Charlie Robinson, arranged financing for KDC’s acquisition through its life insurance company relationships. KDC has begun planning for future phases of Park Center. According …

Continue Reading
FacebookTwitterLinkedinEmail
Leasing ActivityOfficeTexas

Winstead PC Signs 20,678 SF Office Lease Expansion in Dallas’ Harwood District

by Taylor Williams

DALLAS — Law firm Winstead PC has signed a 20,678-square-foot office lease expansion within the Harwood District, a development that spans 19 city blocks in Uptown Dallas. The firm’s occupancy of the third floor of Harwood No. 2 brings its total footprint within the building to 149,841 square feet. Hannah Mesh and Kelly Whaley internally represented the landlord, Harwood International, in the lease negotiations. Winstead, which has been a tenant at the Harwood District since 2012, was also self-represented.

Continue Reading
FacebookTwitterLinkedinEmail
Leasing ActivityOfficeSoutheastVirginia

JBG Smith Signs HII to 36,809 SF Office Lease at National Landing in Northern Virginia

by John Nelson

ARLINGTON, VA. — JBG Smith has signed military shipbuilder HII (Huntington Ingalls Industries) to a 36,809-square-foot office lease at National Landing, a neighborhood in Arlington headlined by Amazon’s new HQ2 campus. HII signed the 11.5-year lease to occupy space within the 11-story 2451 Crystal Drive office tower, which was built in 1990. The firm will move into the space in late summer 2023 and will have signage rights on the tower, according to JBG Smith. HII joins the growing roster of defense-adjacent companies with major presences in the region, including Boeing and Raytheon, both of which are establishing their global headquarters in the National Landing area. Adam Schindler and Perry Frazer of Colliers represented HII in the lease negotiations. Andrea Murray and Connor Stewart represented JBG Smith on an internal basis.

Continue Reading
FacebookTwitterLinkedinEmail
Dermody-Logistics
DevelopmentIllinoisIndustrialMidwestOfficeTop Stories

Dermody Properties Completes Acquisition of Former Allstate Campus in Metro Chicago, Plans 3.2 MSF Industrial Campus

by Katie Sloan

GLENVIEW, ILL. — Dermody Properties has completed its acquisition of the 232-acre former corporate office campus of Allstate Corp. located on Sanders Road in Glenview, roughly 22 miles northwest of downtown Chicago. While the acquisition price was not disclosed, REBusinessOnline reported last year that the transaction would be valued at $232 million.  Dermody plans to redevelop the property into a 10-building logistics park. The redevelopment, named The Logistics Campus, will span 3.2 million square feet upon completion, with flexibility to accommodate additional build-to-suit development.  Construction on Phase I of the project is scheduled to begin immediately and will include five buildings totaling 1.2 million square feet. The initial phase of development is slated for completion in 2023.  “This redevelopment project stands at the intersection of two significant and durable trends — work from home and e-commerce,” says Douglas Kiersey Jr., president of Dermody Properties. “The conversion of the office campus — with buildings dating back to the 1960s and 1970s — into modern logistics buildings offers many benefits to the community.” The site is located adjacent to Interstate 294 and southwest of the Willow Road interchange, which will allow for efficient access to O’Hare International Airport. The project benefits from …

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts