HOUSTON — JLL has negotiated the sale of 10497 Town & Country Way, a 150,000-square-foot office building in West Houston. Kevin McConn and Rick Goings of JLL represented the seller, an affiliate of metro Philadelphia-based Equus Capital Partners, in the transaction. Kelly Layne and John Ream, also with JLL, arranged an undisclosed amount of acquisition financing on behalf of the buyer, a joint venture between 35 South Capital and Lee & Associates. Independent Bank provided the loan.
PARSIPPANY, N.J. — Siemens Corp. has signed a 43,138-square-foot office lease in the Northern New Jersey community of Parsippany. The German conglomerate and industrial manufacturer will occupy space at Two Gatehall Plaza, a 389,298-square-foot building that was originally constructed in 1985 and recently renovated. Jeff Schotz, Kevin Murphy, Sumner Putnam and Peter Kasparian of Newmark represented the landlord, New York-based Silverman Realty Group Inc., in the lease negotiations. Jeff Babikian and Conor Dolan of CBRE represented the tenant.
DALLAS — Law firm Munsch Hardt Kopf & Harr has signed a new 77,009-square-foot office lease at Ross Tower, a 1.1 million-square-foot building located at 500 N. Akard St. in downtown Dallas. The firm, which employs about 175 people in Dallas, will relocate from floors 36, 38 and 39, where it has leased space since 2005, to floors 40 through 42. The new lease term is 15 years, and the firm plans to take occupancy of its new space next fall. Craig Wilson, Dan Harris, Randy Cooper and Tim Terrell of Stream Realty Partners represented the tenant in the lease negotiations. HPI Real Estate Services & Investments owns Ross Tower.
COLUMBUS, OHIO — AndHealth has unveiled plans to expand its operations in downtown Columbus, bringing 65 new jobs to the area. The healthcare company is moving its office from 1201 Dublin Road to 2 Miranova Place, a 12-story tower. AndHealth says the new space will enable it to more than triple its existing employee count, and the company plans to hire additional software developers, data scientists, healthcare professionals, physicians, providers and other health experts. AndHealth operates the first-ever Virtual Center of Excellence (VCOE) for migraine reversal and will soon launch a second VCOE for autoimmune diseases, including rheumatoid arthritis, psoriasis, ulcerative colitis and Crohn’s disease. AndHealth, which provides virtual healthcare services, works with employers and benefits brokers to provide its services to employees with chronic diseases.
CHICAGO — Greenstone Partners has arranged the sale of a 24,000-square-foot office building in Chicago’s Lincoln Park neighborhood for $6.7 million. The property at 2001 N. Clybourn Ave. is 97 percent leased and anchored by AMP Americas. The building, which dates back to 1925, underwent a complete renovation in recent years. Danny Spitz and Jason St. John of Greenstone represented the seller, R2 Cos. A West Coast-based private investor was the buyer.
PHOENIX — LPC Desert West, the Southwest division of Dallas-based Lincoln Property Co., has completed the disposition of Twenty Seven Camelback, a Class A office building located in Phoenix’s Camelback Corridor. Rosebud Properties acquired the asset for $34 million. Located at 2777 E. Camelback Road, Twenty Seven Camelback features 109,291 square feet of office space. After acquiring the property in 2017, LPC implemented a renovation program, including an upgraded lobby, new conference facility, outdoor lounge area, and improved signage, landscape and hardscapes. Other amenities at the property include touchless entries, 13-foot ceilings, modern open layouts with exposed concrete aesthetics, flexible 36,000-square-foot floor plates and a two-level subterranean parking garage with direct elevator access to tenant spaces. At the time of sale, Twenty Seven Camelback was 87 percent occupied. Current tenants include UMB Bank, Abrazo Medical Group and Lavidge. LPC will continue to manage and lease the building for the new owners. Barry Gabel and Chris Marchildon of CBRE represented the seller in the deal.
NEW YORK CITY — Law firm Kaufman Borgeest & Ryan (KBR) has signed a 27,117-square-foot office lease at 875 Third Avenue in Midtown Manhattan. The lease term is 15 years. The tenant will relocate from 120 Broadway to occupy a full floor at the 29-story building, which was originally constructed in 1982. Paul Glickman, Diana Biasotti, Kristen Morgan and Harrison Potter of JLL represented the landlord, Global Holdings Management Group, in the lease negotiations. Howard Greenberg of Howard Properties and Barry Lewen of Cresa represented KBR.
CHARLOTTE, N.C. — JLL has arranged an undisclosed amount of construction financing for 600 South Tryon, a 24-story office tower development in Charlotte. The 415,000-square-foot building will be part of Legacy Union, a 10-acre mixed-use development that comprises the SIX50, Bank of America Tower and Honeywell’s global corporate headquarters. Campbell Roche, Travis Anderson, Taylor Allison, Kristi Leonard, Tom Stewart and Ryan Pride of JLL arranged the five-year, floating-rate loan through Square Mile Capital Management LLC on behalf of the borrower, a partnership between Lincoln Harris and the real estate business of Goldman Sachs Asset Management. 600 South Tryon, which is 25 percent preleased, will include outdoor terraces, 20,000 square feet of ground-floor retail space, upscale finishes and amenities. No construction timeline was disclosed.
HOUSTON — JLL has brokered the $145 million sale of 200 Park Place, a 206,943-square-foot office building in Houston’s River Oaks neighborhood. Completed in 2020, the 15-story building features a ninth-floor amenity level with a tenant lounge, conference center and 6,000-square-foot outdoor landscaped terrace. The building also houses an upscale sushi restaurant on the ground floor. Jeff Hollinden, Kevin McConn, Marty Hogan and Rick Goings of JLL represented the seller, Stonelake Capital Partners, a development and investment firm with offices in Texas and Atlanta, in the transaction. At the time of sale, 200 Park Place was fully leased, with JLL and Buckeye Partners serving as the anchor tenants.
PALM BEACH GARDENS, FLA. — Gatsby FL, a division of New York City-based family investment firm Gatsby Enterprises, plans to build PGA Tower, a 200,000-square-foot office building in Palm Beach Gardens. Chris Smith with CBRE and Darryl Kaplan of Darryl R Kaplan Co. represented Gatsby in the land acquisition. Smith will be handling leasing along with CBRE’s John Criddle and Joe Freitas. Situated on seven acres near the intersection of PGA and RCA boulevards, the eight-story office building will feature column-free, 25,000-square-foot floor plates; fine dining restaurants; 7,000 square feet of quick-serve restaurants and retail; a fitness center; and 1,000 covered garage parking spots along with EV charging stations. PGA Tower’s offices will feature 10-foot, floor-to-ceiling windows with hurricane-resistant glass, full generator back-ups and building top signage. Gatsby, which also owns the nearby DiVosta Towers and 800 Brickell in Miami, anticipates tenant delivery beginning in first-quarter 2024.