TROY, MICH. — Technomics Inc. has leased 3,600 square feet of office space at the Twenty 75 Office Center in Troy. The consulting firm specializes in cost estimating and cost analysis for defense, civilian and energy clients. Technomics joins other area businesses such as Magna International, Siemens, Quicken Loans and Tyler Technologies. Robert Gagniuk and Marc Hames of Friedman Real Estate represented the undisclosed landlord in the lease transaction.
ALAMEDA, CALIF. — Newmark has arranged $99.2 million in financing to Invesco Advisers for the acquisition and conversion of a newly developed, six-building portfolio in Alameda. Ramsey Daya and Chris Moritz of Newmark’s Debt & Structured Finance team arranged the financing for the buyer. PGIM Real Estate placed the loan. Located at 1410-1430 Harbor Bay Road and 1955-2115 N. Loop Road, the six buildings feature 24- to 28-foot clear heights, dock-high and at-grade doors and ample power. Invesco plans to convert the 335,000-square-foot property into a state-of-the-art life sciences complex, including lab research, development and domestic good manufacturing practice (GMP) manufacturing.
GOODYEAR AND GLENDALE, ARIZ. — Kidder Mathews has arranged the sales of three medical office buildings located in Goodyear and Glendale for a total of $32.8 million. Michael Dupuy and Rachael Thompson of Kidder Mathews represented the undisclosed sellers in the transactions. The names of the buyers were not released. The transactions are the $7.6 million sale of the 20,235-square-foot Cornerstone Medical Center in Goodyear; the $10 million sale of the 35,893-square-foot Talavi Medical Plaza in Glendale; and the $15.2 million sale of the 52,013-square-foot Thunderbird Palms in Glendale.
HOUSTON — General contractor Harvey Builders will construct a 115,000-square-foot manufacturing and office facility in Houston. Designed by Powers Brown Architecture, the facility will be situated on an 8.3-acre site within the Houston Spaceport campus on the city’s southwest side. The project will be a build-to-suit for Hamilton Sundstrand, a subsidiary of Collins Aerospace, and is expected to be complete in summer 2022. Houston-based Griffin Partners has been tapped as the development manager for the project, which is expected to add about 250 new jobs to the local economy.
NEW YORK CITY — The Legal Aid Society, a social justice law firm, has signed a 198,900-square-foot office lease at 40 Worth Street in Manhattan’s Tribeca neighborhood. The lease term is 30 years. The property, also known as the Merchants Square Building, was originally constructed in 1929 and spans approximately 800,000 square feet. Craig Reicher, Christopher Mansfield, Greg Maurer-Hollaender and Peter Gamber of CBRE represented the tenant in the lease negotiations. Brian Steinwurtzel and Roy Lapidus of GFP Real Estate represented the landlord, 40 Worth Street Associates LLC.
WALTHAM, MASS. — Boston Properties Inc. (NYSE: BXP) has acquired two life sciences buildings totaling 153,000 square feet in the western Boston suburb of Waltham for $100 million in cash. The seller was an affiliate of Los Angeles-based investment firm Montana Avenue Capital Partners LLC. The buildings, located at 153 and 211 Second Ave., were fully leased to an undisclosed pharmaceutical company at the time of sale. The assets are located adjacent to Boston Properties’ 272,000-square-foot building at 200 West St., a portion of which was recently converted into lab space. That property is 100 percent leased to Translate Bio. Following this transaction, Boston Properties now owns approximately 4.9 million square feet of lab and Class A office properties in the Waltham/Lexington area. The submarket has emerged as a major hub of life sciences construction, with companies such as Greatland Realty Partners, The Davis Cos. and Boston Development Group announcing or breaking ground on new projects in the last few months. Boston Properties holds more than 3 million square feet of life sciences space throughout the greater Boston and Los Angeles areas and has about 1 million square feet of life sciences projects in its development pipeline. “The adjacency to …
DENVER, COLO. — Broe Real Estate Group has unveiled plans for 200 Clayton, a Class A commercial office property in Denver. Construction is slated to start in August of this year and finish in 2023. The 200 Clayton project is an eight-story, Class A office building located in the Cherry Creek North shopping district and will have 76,000 square feet of office and retail space. The building is the first phase of the Clayton Street redevelopment. Broe Real Estate Group had to push the project when the pandemic hit last year, according to BusinessDen.com. OmniTRAX, The Broe Group’s transportation affiliate, will anchor the project and occupy the second and third floors, totaling about 20,000 square feet. Leasing negotiations are currently underway for prospective tenants on floors four through eight. The Broe Real Estate Group has made other investments in Denver, such as 1801 Skyline Apartments, which is a 12-story, 144-unit apartment building, and 216/252 Clayton Street, which is a 19,000-square-foot Class A mixed-use building. 216 Clayton Street is currently the headquarters of The Broe Group. After the completion of 200 Clayton, the firm plans to demolish the parking garage and 252 Clayton Street building to develop a seven-story office building …
DALLAS — Newmark has brokered the sale of Heritage One & Two, a 367,364-square-foot office complex located at the convergence of the Dallas North Tollway and LBJ Freeway in North Dallas. The two-building property sits on 12 acres and features amenities such as a fitness center, conference center and a café with outdoor seating. Gary Carr, Robert Hill, Chris Murphy, John Alvarado and Chase Tagen of Newmark represented the undisclosed seller in the transaction. The buyer was Oregon-based investment firm Menashe Properties. The complex was 75 percent leased at the time of sale.
LAKE FOREST, CALIF. — Bailard has completed the disposition of Bailard Real Estate Fund of Palm Terrace, an office campus located in Lake Forest. Kingsbam Real Estate Capital acquired the asset for $40 million in an off-market transaction. Located at 25521, 25531 and 25541 Commercentre Drive, the three-building campus features 155,795 square feet of office space. At the time of sale, the property was 97 percent leased to a variety of tenants, including Del Taco, PGM Holdings, Hometown Equity, Citadel Servicing and Anyone Home. The property features revamped landscaping, an outdoor common area and courtyard, open floorplates, ample natural light, abundant surface-level parking, building signage and energy-efficient lighting. Kevin Shannon, Paul Jones and Brandon White of Newmark represented the seller, while the buyer was self-represented in the deal.
SURPRISE, ARIZ. — Marcus & Millichap has arranged the sale of a net-leased office building located at 12129 W. Bell Road in Surprise. A limited liability company sold the asset to an undisclosed buyer for $2 million. RISE Services Inc. occupies the 8,936-square-foot building, which was built in 2003. Chris Lund and Mark Ruble of Marcus & Millichap’s Phoenix office represented the seller in the deal.