Wednesday, August 5, 2026
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AcquisitionsCaliforniaOfficeWestern

Parallel Capital Sells Shoreline Square Office Tower in Long Beach for $85.5M

by Amy Works

LONG BEACH, CALIF. — Parallel Capital Partners has completed the disposition of Shoreline Square, an office tower in downtown Long Beach. Shoreline Square Holdings LLC acquired the asset for $85.5 million. Located at 201 E. Ocean Blvd., the 20-story tower features 410,920 square feet of office space. At the time of sale, the property was 92 percent leased to a diverse tenant mix, with 52 percent of the rent roll including U.S. government and municipal tenants. Current tenants include U.S. Customs, California State Land Commission, Department of Defense, California Coastal Commission and the Bureau of Alcohol, Tobacco, Firearms and Explosives. Additional tenants include Jersey Mike’s Subs, Comeria Bank, Café 301 and Corporate Concierge. Kevin Shannon, Ken White, Rob Hannan and Laura Stumm of Newmark represented the seller in the transaction.

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IllinoisLeasing ActivityMidwestOffice

Thales Signs 24,673 SF Office Lease in Aurora, Illinois

by Kristin Harlow

AURORA, ILL. — Thales Defense & Security Inc. has signed a 24,673-square-foot office lease at 750 Commons Drive in Aurora, located about 40 miles west of Chicago. Thales will move from 1444 N. Farnsworth Ave. in Aurora once tenant improvements are completed and the new lease commences in mid-2022. The 205,000-square-foot, two-building property, which supports both office and industrial users, is now fully leased. Stanton Road Capital purchased the asset in 2018 and added amenities such as a fitness center, tenant lounge, conference center and training center. Francis Prock and Dave Florent of Colliers are the leasing agents for the property. Kellen Monti and Chris Bynum of JLL represented Thales.

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DevelopmentIllinoisLeasing ActivityMidwestOffice

SPINS Preleases 47,883 SF at New Office Development in Chicago’s River North

by Kristin Harlow

CHICAGO — SPINS, a data provider and advocate for the health and wellness industry, has preleased 47,883 square feet of space at 311 W. Huron, a new office development in Chicago’s River North. The developer, North Wells Capital, plans to break ground in April. SPINS will serve as the anchor tenant of the 15-story building upon completion in late 2023. The 153,611-square-foot building will be part of Verso, a three-phase development. Jeffrey Skender, Ari Klein, Scott Shelbourne and Marcus Berglund of Cushman & Wakefield represented SPINS. Melissa Rubenstein, Annie Nicolau and Anna Panici of JLL represented ownership. SPINS currently occupies space at 222 W. Hubbard, which is also owned by North Wells Capital.

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Leasing ActivityOfficeTexas

Coterra Energy Signs 122,000 SF Office Headquarters Lease in Houston

by Taylor Williams

HOUSTON — Coterra Energy Inc., a product of an October 2021 merger between Houston-based Cabot Oil & Gas and Denver-based Cimarex Energy, has signed a 122,000-square-foot office headquarters lease in Houston. The tenant will relocate to Memorial City Plazas, a 1 million-square-foot office campus in Houston. Owned by MetroNational, the three-building development is currently undergoing a $20 million renovation project that is slated for a fourth-quarter completion. Brad MacDougall and Warren Alexander represented MetroNational in the lease negotiations on an internal basis. Jim Bailey of Cushman & Wakefield and Lucian Bukowski of CBRE represented the tenant.

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AcquisitionsOfficeTexas

Skanska Sells Two Office Buildings in Houston’s Energy Corridor for $147M

by Taylor Williams

HOUSTON — International developer Skanska has sold West Memorial Place I and II, two office buildings located in Houston’s Energy Corridor submarket, for $147 million. The two-building complex totals approximately 716,000 square feet. West Memorial Place I was completed in 2015, and the sister building was completed in 2016. Amenities include a fitness center, onsite dining options and a connected parking structure. The buyer was a joint venture led by Houston-based Fuller Realty Interests LLC.

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LoansOfficeTexas

Thorofare Capital Provides $41.9M Loan for Refinancing of Dallas Office Portfolio

by Taylor Williams

DALLAS — Los Angeles-based Thorofare Capital has provided a $41.9 million loan for the refinancing of a portfolio of 13 office buildings in the Dallas Design District. The buildings total 160,687 square feet. The undisclosed, locally based borrower will use a portion of the proceeds to fund capital improvements. The loan was structured with interest-only payments and a flexible prepayment schedule.

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Market ReportsOfficeTexasTexas Market Reports

Slow-But-Steady Recovery Ensures That Dallas Remains a Top Office Market

by Taylor Williams

By Mike Otillio, research director, Colliers The Dallas office market and North Texas region as a whole continue to evolve as leading destinations for corporate relocations, led in part by a favorable business climate.  This reputation as a top landing spot for regional workforce consolidations and outright relocations from other states has helped Dallas become a national leader in some key back-to-work metrics. According to research from security firm Kastle Systems, which monitors keycard, fob and app usage within thousands of office buildings across the country, the average occupancy rate in December across 10 of the country’s biggest markets was 40.6 percent. Dallas was one of the 10 markets tracked in the report, posting an above-average occupancy rate of 52.3 percent. The basic business-friendly climate and healthy pace of job and population growth, along with evidence that users are making stronger pushes to return to their workspaces, have accelerated the market’s office investment sales recovery for value-add, core-plus and stabilized product.  Barring any unforeseen circumstances, such as a prolonged spike in cases from the Omicron variant, we expect this trend to continue through 2022. Dallas recorded several notable sales of iconic office assets in 2021, plus numerous deals for suburban …

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AcquisitionsOfficeUtahWestern

Arden Group, Vesta Realty Partners Buy 125,000 SF Younique Headquarters in Lehi, Utah

by Amy Works

LEHI, UTAH — Arden Group, in partnership with Vesta Realty Partners, has purchased an office building located at 3400 W. Mayflower Ave. in Lehi. Terms of the transaction were not released. Younique, a health and wellness direct sales firm, fully occupies the 125,000-square-foot property on a lease basis through 2026. Situated on 7.1 acres, Stack Real Estate developed the asset in 2016 as a fully amenitized corporate campus and showcase property for Younique. The property features 25,000-square-foot floor plates, a full-size commercial kitchen, cafeteria, lounge, outdoor seating, auditorium, five balconies with seating, full-service salon and R&D lab.

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AcquisitionsOfficeWashingtonWestern

Marcus & Millichap Negotiates $4.3M Sale of Shoreline Park Office Building in Shoreline, Washington

by Amy Works

SHORELINE, WASH. — Marcus & Millichap has arranged the sale of Shoreline Park, an office building located at 19940 Ballinger Way NE in Shoreline. A private investor sold the asset to an undisclosed buyer for $4.3 million. Shoreline Park features 13,503 square feet of office space. At the time of sale, the property was 85 percent occupied by a mix of professional tenants. John Marks and Stren R. Lea of Marcus & Millichap’s Seattle office represented the seller in the deal.

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AcquisitionsCaliforniaIndustrialOfficeWestern

JLL Negotiates $78M Sale of Four-Building Britannia Business Center in Pleasanton, California

by Amy Works

PLEASANTON, CALIF. — JLL Capital Markets has arranged the sale of Britannia Business Center, a four-building R&D and office campus at 4125, 4155, 4255 and 4385 Hopyard Road in the Bay Area city of Pleasanton. A Virtua Partners-managed company sold the asset to an undisclosed buyer for $78 million. Situated on 19.3 acres, Britannia Business Center features 292,000 square feet of R&D and office space. Originally built between 1997 and 1998, the property features 13-foot to 20-foot clear heights, eight roll-up doors, one dock-high door and 1,600 to 3,000 amps available. At the time of sale, the asset was 68.6 percent leased with nearly half of the tenancy being credit tenants. Erik Hanson, David Dokko and Nick Deaver of JLL Capital Markets represented the seller in the deal.

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