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8530-8550-S-Priest-Dr-Tempe-AZ
AcquisitionsArizonaOfficeWestern

Transwestern Brokers $20.5M Sale of Two Office Buildings in Tempe, Arizona

by Amy Works

TEMPE, ARIZ. — Transwestern Real Estate Services has arranged the sale of two office buildings located at 8530-8550 S. Priest Drive in Tempe. Widewaters acquired the asset from Target Corp. for $20.5 million. Built in 2003 and renovated in 2019, the asset features two two-story, 94,480-square-foot buildings and a two-level parking garage. The 25-acre lot offers direct access to Interstate 10 and Loop 202. Paul Borgesen, Dylan Sproul and Royden Hudnall of Transwestern represented the buyer, while Bill Bayless of CBRE represented the seller in the deal. William Zurek and Jim Achen Jr. of Transwestern joined the acquisition team to market the property for either sale or lease.

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DevelopmentIllinoisMidwestOffice

BIG Construction, Ware Malcomb Complete 24,230 SF Office for ZS in Chicago

by Kristin Harlow

CHICAGO — BIG Construction and architect Ware Malcomb have completed a new 24,230-square-foot office for ZS at 222 Merchandise Mart Plaza in Chicago. Founded in 1983, ZS is a global management consulting and technology firm. ZS maintains more than 13,000 employees in over 35 offices worldwide. The Chicago office features a mix of open work zones, closed office areas, meeting rooms and gathering spaces. A central café stands as a focal point of the design.

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IllinoisLeasing ActivityMidwestOffice

CRC Group Signs 20,000 SF Office Lease on Chicago’s Wacker Drive

by Kristin Harlow

CHICAGO — CRC Group has signed a 20,000-square-foot, full-floor office lease at 123 N. Wacker Drive in Chicago. The wholesale specialty insurance distributor will occupy the building’s 19th floor. Sterling Bay assumed leasing and management responsibilities of the property last year. Tenant amenities include a newly renovated lobby, tenant lounge, fitness center, coffee bar, conferencing center and upcoming ground-floor retail.

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Campus-at-Scott-Santa-Clara-CA.jpg
AcquisitionsCaliforniaOfficeWestern

Ellis Partners, Baupost Group Buy 460,000 SF Multi-Building Office Campus in Santa Clara, California

by Amy Works

SANTA CLARA, CALIF. — Ellis Partners, in partnership with The Baupost Group, has purchased Campus at Scott, a Class A office campus in Santa Clara, from New York-based Clarion Partners for an undisclosed price. The three-building, 460,000-square-foot property is located at 3315, 3325 and 3355 Scott Blvd. The partnership plans to upgrade the asset’s amenities including fitness, food and outdoor areas.

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Leasing ActivityMidwestMissouriOffice

Conexon to Move Headquarters to 48,827 SF Office in Kansas City

by Kristin Harlow

KANSAS CITY, MO. — Conexon, a Kansas City-based provider of high-speed internet for rural communities, is moving its headquarters to a new 48,827-square-foot office at Stanton Road Capital’s 2323 Grand Boulevard in Kansas City. The company was previously headquartered at nearby 2001 Grand Boulevard, also known as the Firestone Building. Conexon will take over the entire fourth and a portion of the third floor at 2323 Grand. Located in the heart of downtown, the office building sits at the intersection of the Crossroads Arts District and Crown Center, directly across from Union Station and the new RideKC streetcar station. In addition to Conexon, Lathrop GPM recently announced an upcoming relocation of its headquarters to 2323 Grand. Existing tenants Glass Lewis and Brown & Ruprecht have inked lease renewals in the past quarter. Grand Coffee Co. opened a new location within the building. In total, the property has received 110,414 square feet of new leases and renewals in 2025. The owner has invested in the building’s amenities, including a conference center, updated gym, employee lounge and dining areas. The 320,976-square-foot, 11-story building offers onsite parking, flexible floor plates and spec suites. Stanton Road Capital acquired the property in late 2017. Travis …

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LoansMichiganMidwestOffice

Bernard Financial Group Arranges $4M Loan for Refinancing of Michigan Office Property

by Kristin Harlow

FARMINGTON HILLS, MICH. — Bernard Financial Group (BFG) has arranged a $4 million loan for the refinancing of an 89,691-square-foot office property in the Detroit suburb of Farmington Hills. Joshua Bernard of BFG arranged the loan on behalf of the borrower, an entity doing business as HRFG Acquisition LLC. A life insurance company provided the loan.

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Leasing ActivityNew YorkNortheastOffice

Five Iron Golf Signs 4,000 SF Office Lease in Midtown Manhattan

by Taylor Williams

NEW YORK CITY — Five Iron Golf has signed a 4,000-square-foot office lease in Midtown Manhattan. The entertainment concept will soon relocate its New York headquarters from 60 E. 42nd St. to the penthouse suite of the Central Plaza Building at 18 E. 41st St. Alex Redlus and Kirill Azovtsev of Savills represented Five Iron Golf in the lease negotiations. John Thompson and Justin Gentile of Resolute Real Estate represented the landlord.

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Brookside-Alpharetta
AcquisitionsDevelopmentGeorgiaMixed-UseOfficeSoutheastTop Stories

Portman Acquires Metro Atlanta Office Park, Plans Mixed-Use Redevelopment

by Taylor Williams

ALPHARETTA, GA. — National developer Portman Holdings has acquired Brookside Office Park, a 266,000-square-foot development located in the northern Atlanta suburb of Alpharetta with plans to undertake a mixed-use redevelopment. The seller and sales price weren’t disclosed, but the Atlanta Business Chronicle reports that an affiliate of Bridge Commercial Real Estate sold the property for $27 million. Brookside Office Park consists of two buildings on a 20-acre site that were originally constructed in the 1980s. Portman plans to retain one 130,000-square-foot building, raze the other and pave the way for a proposed vision that includes 335 multifamily residences, 70 townhomes and 60,000 square feet of retail and restaurant space. Townhome prices will start at roughly $650,000, according to reports from the Atlanta Business Chronicle. The redevelopment will also feature activated public gathering areas, pedestrian connections and outdoor amenities that promote walkability and community engagement. Portman received unanimous approval from the Alpharetta City Council in April to transform the site into a mixed-use destination. Construction is expected to begin in 2026, with completion anticipated in 2029. “With Brookside, we’re taking an older office campus and giving it new life, keeping the best of what’s there while bringing in housing, retail and spaces …

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8700-S-Price-Rd-Tempe-AZ
AcquisitionsArizonaOfficeWestern

Cushman & Wakefield Negotiates $7.3M Sale of Flex Office Building in Tempe, Arizona

by Amy Works

TEMPE, ARIZ. — Cushman & Wakefield has directed the sale of a flex office building situated on ground leased land within the Arizona State University Research Park in Tempe. LNR Partners sold the property to David McHenry for $7.3 million. Situated on 9.6 acres at 8700 S. Price Road, the two-story building offers 132,070 square feet of office space that is fully available for new tenancy. Eric Wichterman, Chris Toci and Mike Coover of Cushman & Wakefield represented the seller. Charles Miscio and Luke Waller of CBRE assisted in the transaction.

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DevelopmentIllinoisLeasing ActivityMidwestOffice

Beacon Capital Completes $32M Renovation of Chicago Office Building

by Kristin Harlow

CHICAGO — Beacon Capital Partners has completed a $32 million renovation at 333 West Wacker Drive in Chicago. Since acquiring the building in June 2024, Beacon has leased more than 205,000 rentable square feet, increasing occupancy from 83 percent to 90 percent. The upgrades include an entirely new ground-floor lobby, a two-level fitness and wellness center, a rooftop tenant lounge and conference center, a renovated Goodwin’s deli and a new café and bar offering. Beacon is also underway on three new, fully furnished model suites totaling 30,000 rentable square feet that are set to deliver in November. Notable new tenants include JBT Corp., Forvis Mazars and Eclipse Business Capital. Lease expansions and extensions have been completed with FGMK; Kelley, Drye & Warren; and Teachers Retirement System of Illinois. Hines is the property manager, and The Telos Group provides leasing services for the property.

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