FARMERS BRANCH, TEXAS — Colliers has brokered the sale of Valley View Centre, a 64,000-square-foot office building located in the northern Dallas suburb of Farmers Branch. The four-story building was 84 percent leased at the time of sale. Cody Payne and Michael Tran of Colliers represented the seller, a private investor, in the transaction. The buyer was an undisclosed 1031 exchange investor that acquired the asset in an all-cash deal.
PLANO, TEXAS — Granite Properties, in partnership with publicly traded REIT Highwoods Properties (NYSE: HIW), has topped out a 422,109-square-foot office building located within the 90-acre Granite Park development in Plano. Designed by BOKA Powell with interiors by HKS Architects, Granite Park Six will rise 19 stories and is scheduled for a third-quarter 2023 completion. Amenities will include a fitness center, tenant lounge, golf simulator, café and a lecture hall. The building will also offer an array of health and wellness features such as dispatch elevators, touchless entry points and restroom fixtures and advanced HVAC systems that promote clean air technology. Austin Commercial is the general contractor for the project, construction of which began in December 2021.
MINNEAPOLIS — Workbox, a flexible office operator, has signed a 27,748-square-foot lease at Deluxe Plaza in downtown Minneapolis. The firm will open its new space on Wednesday, Nov. 2. The lease represents the fifth location for Workbox and its first outside of Chicago. Deluxe Plaza has recently undergone renovations and offers amenities such as a tenant lounge, rooftop deck, fitness center and training center. Larissa Bodine, Ann Rinde and Mark McCary of CBRE represented ownership, Franklin Street Properties. Ryan Cos. is the property manager.
CHICAGO — Law firm Nisen & Elliott LLC is relocating its Chicago office from 200 W. Adams St. to a 15,417-square-foot space at 180 N. LaSalle St. The firm will take occupancy of the new space in November. The lease represents the firm’s first relocation in over 35 years. Eric Feinberg, John Goodman and Isabel Preskill of Savills represented Nisen & Elliott. The property rises 38 stories in the Loop. Building owner Ivanhoe Cambridge has recently made upgrades to the lobby and conferencing facilities.
TROY, MICH. — L. Mason Capitani CORFAC International has relocated its headquarters from 2301 W. Big Beaver Road to 1111 W. Long Lake Road in Troy. The new headquarters also houses sister company Liberty Property & Asset Management. The two-floor office features open meeting areas, conference rooms, workstations and ample natural light. The space also includes Liberty’s construction and design center, which provides property owners and tenants the opportunity to select and approve plans, specifications and finishes for projects.
KALAMAZOO, MICH. — Kalamazoo Child and Family Counseling PLLC is opening a second location in West Michigan at The Atriums Office Park in Kalamazoo. The property is located at 4341 S. Westnedge Ave. Kalamazoo Child and Family Counseling is a mental health clinic dedicated to serving children and teens that have anxiety, post-traumatic stress disorder, grief and loss or disruptive behaviors. The practice’s primary office is in Portage. The new location will provide all the same services as the Portage location and is slated to open in November. Kara Schroer of NAI Wisinski of West Michigan represented both the undisclosed landlord and the tenant in the lease.
DOWNEY, CALIF. — PSRS has arranged $6.9 million in refinancing for a multi-tenant office building in Downey. Constructed in 1969, the six-story property features 65,481 square feet of space. Grady Seldin of PSRS secured the fixed-rate, cash-out, non-recourse loan with a 10-year term and a 30-year amortization through one of PSRS’ correspondent life insurance companies.
FLORHAM PARK, N.J. — Colliers has arranged the $13.2 million sale of Westminster Corporate Center, a 158,583-square-foot office campus in the Northern New Jersey community of Florham Park. The campus, which was 57 percent leased at the time of sale, comprises two three-story buildings on a 15.3-acre site. Jacklene Chesler, Patrick Norris and Joe Lane of Colliers brokered the deal. The buyer, Pentaurus, plans to implement a value-add program that will upgrade the lobby and existing fitness facilities, as well as add pickleball and basketball courts.
ROSEMONT, ILL. — Colliers has brokered the $13 million sale of Rosemont Corporate Center in the Chicago suburb of Rosemont. Jon Connor and Francis Prock of Colliers represented the seller, KORE Investments. The Village of Rosemont purchased the 121,000-square-foot office building with plans to renovate it before moving municipal employees to the property in 2023. KORE acquired the building in 2021 from the original developer, Ryan Cos., for $6.5 million. Mark Offit of Braden Real Estate represented the Village of Rosemont.
PHOENIX — Tortosa LLC has completed the disposition of The Strip, a two-story retail and office building in Phoenix, to 4700 Alliance LLC, a Seattle-based investment company, for $4.4 million. Located at 4700 N. 12th St., the multi-tenant property was fully leased at the time of sale. The ground-floor space consists of retail tenants, including a craft beer and wine bar/restaurant, a craft coffee shop, a wine shop and café, a locally famous cake bakery and a soon-to-be completed speakeasy bar and co-working lounge. The second floor includes a salon, two architectural firms, a fitness tech company and headquarters for a restaurant group. Eric Wichterman, Mike Coover, Steve Lindley and Alexandra Loye of Cushman & Wakefield’s private capital and capital markets teams in Phoenix represented the seller in the transaction.