Office

Fluor Corp. Signs 308,186 SF Office Lease in Houston’s Energy Corridor

by Taylor Williams May 5, 2023

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.

May 5, 2023

Acquisitions Illinois Midwest Office

CBRE Arranges Sale of 116,500 SF Office Building in Waukegan, Illinois

by Kristin Harlow May 5, 2023

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.

May 5, 2023

Illinois Leasing Activity Midwest Office

Thornton Tomasetti to Relocate Chicago Office to Fulton Market

by Kristin Harlow May 5, 2023

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.

May 5, 2023

Development Florida Hospitality Mixed-Use Office Restaurant Retail Southeast Top Stories

Cordish, Caesars Reveal Plans for 223-Acre Mixed-Use Project in Pompano Beach, Florida

by John Nelson May 5, 2023

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 …

May 5, 2023

Development Office Texas

Adolfson & Peterson Completes 242,000 SF Office Building in Plano

by Taylor Williams May 4, 2023

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.

May 4, 2023

Leasing Activity Michigan Midwest Office

Friedman Negotiates 41,400 SF Full-Building Lease at Office Property in Detroit

by Kristin Harlow May 4, 2023

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.

May 4, 2023

Leasing Activity Life Sciences Office Texas

Antech Diagnostics Signs 22,578 SF Lease Renewal, Expansion in Irving

by Taylor Williams May 4, 2023

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.

May 4, 2023

Acquisitions California Office Western

Naked Wardrobe Acquires 90,371 SF Office Property Calabasas, California for New Headquarters

by Jeff Shaw May 4, 2023

CALABASAS, CALIF. — Naked Wardrobe has purchased a 90,371-square-foot office property in Calabasas for its new headquarters. The building is located at 26541 Agoura Road. The affordable luxury clothing brand will expand from its previous location in nearby Northridge. CBRE’s Mark Perry, Michael Slater, Tom Dwyer, Caroline Bigelow and Carlene O’Neil, along with Scott Murphy, asset manager for Ella Valley Investments, represented the sellers, Edgemark Littleton and the Murray S. Pepper Trust. ZMax Realty represented the buyer.

May 4, 2023

Acquisitions Arizona Office Western

Gantry Arranges $5M Acquisition Loan for Phoenix Office Property

by Jeff Shaw May 3, 2023

PHOENIX — Gantry has secured a $5 million loan for the value-add acquisition of a 56,000-square-foot office property in Phoenix. The borrower is an experienced private real estate investor. The two-story building offers 278 park spaces and is located at 2225 W. Peoria Ave. within the Black Canyon Commerce Park. Vacant space at the property is formatted for medical office, as well as general professional uses. One of Gantry’s correspondent life company lenders provided the fixed-rate, short-term bridge loan.

May 3, 2023

Acquisitions California Office Western

NAI Capital Brokers $3.5M Sale of Lakeview Professional Plaza in Yorba Linda, California

by Jeff Shaw May 3, 2023

YORBA LINDA, CALIF. — A California-based private investor has acquired Lakeview Professional Plaza, an 11,761-square-foot, multi-tenant office building in Yorba Linda, for $3.5 million. The building is located at 4848 Lakeview Ave. It was built in 1975. The office is currently leased to an insurance company and a law firm on long-term leases. Steven Ehrich of NAI Capital Commercial’s Investment Services Group represented both the buyer and seller in the transaction.

May 3, 2023

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