HOUSTON — Skadden, Arps, Slate, Meagher & Flom LLP has signed a 52,000-square-foot office lease at Texas Tower, a 47-story skyscraper in downtown Houston. The global law firm will occupy space on two floors beginning in April 2026. Michael Anderson with Cushman & Wakefield represented the landlord, a partnership between Hines and Ivanhoe Cambridge, in the lease negotiations. Mark O’Donnell of Savills represented the tenant. The deal brings the 1.2 million-square-foot building to 99 percent occupancy.
NEW YORK CITY — RD Management has subleased 17,363 square feet of office space at 1745 Broadway in Midtown Manhattan. The space spans part of the seventh floor of the 26-story, 780,525-square-foot building. Richard Bernstein, Adam Ardise, Stephen Bellwood, Lei-Lani Keelan and Troy Elias of Cushman & Wakefield represented the sublandlord, Penguin Random House, in the negotiations. Ben Shapiro, Bill Levitsky and Matt Augarten of Newmark represented RD Management. Invesco Real Estate owns 1745 Broadway.
MISSION VIEJO, CALIF. — Barker Pacific Group and Kingsbarn Realty Capital have acquired Mission Ridge, two four-story office buildings in Mission Viejo, from Barings for $32 million. Situated on 10.2 acres at 27101 and 27201 Puerta Real, Mission Ridge offers 233,531 square feet of multi-tenant office space. The property was originally built in the early 2000s and renovated in 2021. Renovations include new lobbies, refreshed restrooms, a new conference center and tenant lounge, and a refreshed fitness facility with showers and locker rooms. Sean Sullivan, Todd Tydlaska, Anthony DeLorenzo, Sammy Cemo, Bryan Johnson and Grant Goldman of CBRE Investment Properties represented the seller in the deal. CBRE’s Sullivan, Tydlaska, DeLorenzo, Mike Longo, Grant Goldman, Bryan Johnson and Melissa Moock handled the transaction for the buyer. Greg Grant and Pete Obradovich of CBRE secured acquisition financing for the buyer. BPG will manage the property, while the existing CBRE lease team was retained to handle leasing for the asset.
PLACENTIA, CALIF. — Marcus & Millichap has negotiated the sale of Cobblestone Professional Office Building, an office property located at 201-261 Lakeview Ave. in Placentia. The asset traded for $5.7 million. Alex Tobin and Parker Bittner of Marcus & Millichap represented the private seller, while Dale Schrieber of Keller Williams procured the buyer, a private investor, in the deal. Cobblestone Professional Office Building offers 23,500 square feet of office space. At the time of sale, the property was occupied by tenants with leases that were all month-to-month, allowing the buyer to renovate the space for the tenant needs.
MECHANICSBURG, PA. — Gannett Fleming TranSystems has signed a 100,000-square-foot office lease in Mechanicsburg, about 115 miles west of Philadelphia. The architecture, engineering and construction (AEC) consulting firm is consolidating and relocating from nearby Camp Hill to Sterling Place Corporate Center. Jeremy Shyk of CBRE represented the landlord, a partnership between Sterling Place Associates and Waterday Properties, in the lease negotiations. Mark Gola of Gola Corporate Real Estate represented the tenant.
NEW YORK CITY — Novartis has renewed and extended its 15,865-square-foot office lease at 10 Bryant Park in Midtown Manhattan. The deal keeps the Swiss pharmaceutical giant on the entire 12th floor of the building, which was originally constructed in 1902, via a five-year extension. David Stockel of CBRE represented Novartis in the lease negotiations. JLL represented the landlord, Property & Building Corp.
CELEBRATION, FLA. — JLL has brokered the $31.5 million sale of Celebration Office Center, a two-building office complex located at 1170 and 1180 Celebration Blvd. in Central Florida. Robbie McEwan, Hunter Smith and Blake Koletic of JLL represented the seller, Real Estate Value Advisors, in the transaction and procured the buyer, TMT Properties. Built in 2000 and 2001, the property is situated within the Celebration master-planned community and in close proximity to Walt Disney World and Universal Studios. Celebration Office Center was 98 percent leased at the time of sale.
DOWNERS GROVE AND SCHAUMBURG, ILL. — Colliers has negotiated two new office leases totaling 33,771 square feet in the western suburbs of Chicago. In the first transaction, Mason Logistics leased 20,971 square feet in the master-planned Esplanade at Locust Point development in Downers Grove. The transportation, warehousing and supply chain services company will relocate from 1815 S. Meyers Road in Oakbrook Terrace, where it maintains roughly the same footprint, in August. Sven Sykes, Tom Volini and Brent Jacob of Colliers represented the tenant. Phil Sheriden represented the landlord, Hamilton Partners, on an internal basis. Sykes and Volini arranged a 12,800-square-foot lease for Meltzer, Purtill & Stelle LLC at Schaumburg Towers in Schaumburg. The law firm will vacate its 12,800 square feet at 1515 Woodfield Road, also in Schaumburg, in August. Doug Shehan and Dan Svachula of JLL represented ownership. Schaumburg Towers totals 890,000 square feet across two 20-story buildings.
DALLAS — Local provider of global business communications management services 46 Labs has opened a 25,000-square-foot office in the historic West End area of Dallas. The company is relocating from 1701 Market St. to a former bread factory that was most recently occupied by Sam’s Club Innovation Center. The new office seats 50 employees and features three conference rooms, four private offices and multiple working spaces and private pods. Mike Kay led the Colliers team that represented 46 Labs in its site selection and lease negotiations.
CAMBRIDGE, MASS. — Biogen Inc. (NASDAQ: BIIB) has unveiled plans for its new global headquarters in Cambridge, located across the Charles River from Boston. The biotechnology company has selected Kendall Common, located at 75 Broadway, as the site of its new hub as part of a multi-year consolidation plan in Massachusetts that encompasses Biogen’s existing facilities in the Kendall Square area of Boston. Specifically, Biogen has signed a 15-year lease to occupy 580,000 square feet of office and life sciences space at Kendall Common, which is being developed by a joint venture between Blackstone subsidiary BioMed Realty and the Massachusetts Institute of Technology (MIT) Investment Management Co. The space will feature upgraded workspaces and modern amenities, along with sustainable design elements such as advanced water conservation measures and energy-efficient systems. In addition, the building will house the Biogen CoLab, a classroom-style community laboratory and collaborative space. Occupancy is slated for 2028.