NEW YORK CITY — Nonprofit organization ElderServe Health has signed a 14,551-square-foot office lease renewal in the Midwood area of Brooklyn. The space is located on the second floor of the building at 1630 E. 15th St., which was constructed in 2006. Bert Rosenblatt, Peter Sabesan and Alex Gerome of Cresa represented the tenant, which does business as RiverSpring Health Plans, in the lease negotiations. Mike Taylor represented the landlord, Lincoln Property Co., on an internal basis.
HOUSTON — Fort Worth-based investment firm Canyon Creek Real Estate has acquired Westchase Park I and II, a two-building, 579,032-square-foot office complex in West Houston. The 15.2-acre campus’ two buildings are connected by an 8,000-square-foot amenity center with a full-service cafe, conference center, fitness center and an outdoor seating area. The new ownership plans to make capital improvements to the property and has tapped Stream Realty Partners as the new leasing agent. The seller and sales price were not disclosed.
ROYAL OAK, MICH. — KJ Commercial has assisted Citizens State Bank (CSB) in the multi-parcel land assemblage for its new headquarters in the Detroit suburb of Royal Oak. After evaluating a range of opportunities, including existing buildings and redevelopment sites, the team decided that a ground-up development was the optimal long-term plan. Kevin Jappaya, David Jappaya and Preston Rabban of KJ Commercial identified a site in the Woodward Avenue corridor and negotiated the off-market purchase of the adjacent property, enabling the assemblage of the necessary acreage for CSB. The transaction closed simultaneously with two separate sellers. A timeline for construction was not provided.
DIAMOND BAR, CALIF. — Gantry has secured a $9 million loan to refinance a maturing loan on an office building in Diamond Bar, a suburb 28 miles east of Los Angeles. Located at 20955 Pathfinder Road, the three-story building offers 65,000 square feet of rentable space. The property was 98 percent occupied at the time of financing. Topher Van Mourick of Gantry represented the borrower, a private real estate investor. The three-year, fixed-rate loan was secured from one of Gantry’s correspondent life company lenders. Gantry will service the loan.
PLAYA VISTA, CALIF. — Newmark has arranged the sale of ilo at Playa Vista, a 306,809-square-foot creative office workplace campus in Playa Vista. Barings acquired the asset from Clarion Partners for $150. 7 million. Kevin Shannon, Ken White, Rob Hannan, Laura Stumm and Michael Moll of Newmark represented the seller in the deal. Jonathan Firestone, Blake Thompson and Henry Cassiday of Newmark Global Debt & Structured Finance provided support on debt strategy and financing considerations throughout the transaction process. The two-building, mixed-used campus has attracted 78,000 square feet of new leasing over the past 24 months. Delivered in 2010, the property has maintained an average occupancy level of more than 90 percent since it was redesigned by Gensler in 2016.
WORCESTER, MASS. — Marcus & Millichap has brokered the $7.2 million sale of a portfolio of three office buildings totaling 83,769 square feet (gross) in the Central Massachusetts city of Worcester. The interconnected buildings, which were 82 percent leased at the time of sale, sit on 2.2 acres and house onsite restaurant VIA, as well as 155 parking spaces. Harrison Klein of Marcus & Millichap represented the seller and procured the buyer in the transaction.
TYSONS, VA. — The Meridian Group (TMG) has acquired Boro Central, a 388,206-square-foot trophy office tower located in Tysons, roughly 11 miles west of Washington, D.C. near the Greensboro Metro station. The seller and sales price were not disclosed, but many outlets report the seller was Foulger-Pratt. Formerly known as Tysons Central, Boro Central is situated within The Boro, a larger mixed-use district that will total 5 million square feet upon full build-out. The 24-story office building offers floor-to-ceiling windows, 30- by 40-foot column spacing, ample ceiling heights and a standout 8th floor that features 14-foot ceilings and a private terrace. Capital improvements for the property will include a new conference center, spec suites and curated amenity programming for tenants. Josh Masi, Scott Goldberg and Paige Barger of Cushman & Wakefield will continue to lead leasing efforts for the property, which media outlets report was vacant at the time of sale. The Boro’s first phase will encompass 1.7 million square feet of mixed-use development, featuring approximately 700 residential units, 500,000 square feet of office space and 250,000 square feet of retail space, anchored by a Whole Foods Market and a ShowPlace ICON Theatre.
PIKESVILLE, MD. — Trout Daniels & Associates (TD&A) has brokered the $4.9 million sale of Bedford Square I and II, a 40,773-square-foot, two-building office portfolio located in Pikesville, roughly 15 miles northwest of Baltimore. Situated at the intersection of Bedford Avenue and McHenry Road, the complex was 93 percent leased to 20 tenants at the time of sale. Gilbert Trout of TD&A represented the seller, Bedford Square Equities, and procured the buyer, Tide Realty Capital, in the transaction.
TEMPE, ARIZ. — Avnet, a global technology distributor and solutions provider, has acquired 2155 East GoDaddy Way in Tempe from ElmTree Funds LLC for an undisclosed price. Avnet will use the 150,000-square-foot Class A office building as its new global headquarters. Currently headquartered at 2211 S. 47th Street in Phoenix, Avnet plans to move into the building in mid-2026. Built in 2014, 2155 S. Science Drive recently served as GoDaddy’s corporate headquarters and its address was changed to 2155 E. GoDaddy Way. The building features a variety of onsite and nearby amenities, including pickleball courts, a skate park, basketball and volleyball courts, soccer field, full-service kitchen, conference and training rooms, huddle rooms, fitness center, locker rooms and shower facilities, yoga room and a game center. Jim Fijan, Jack Fijan and Scott Baumgarten of Transwestern Real Estate Services represented ElmTree Funds in the deal.
NEW YORK CITY — Fisher Brothers and Blackstone Real Estate have received $850 million in CMBS debt for the refinancing of 1345 Avenue of the Americas, a 50-story office tower in Midtown Manhattan. Morgan Stanley, J.P. Morgan Chase and Citibank provided the debt to the locally based co-investors. The refinancing was executed as part of a larger recapitalization of the 2 million-square-foot building, which also saw funds backed by Blackstone acquire a 46 percent interest in the property at a valuation of $1.4 billion. Fisher Brothers also increased its majority ownership of the asset as part of the transaction. The building was 92 percent leased at the time of the loan closing, with nearly 1.1 million square feet of leases signed since 2023. Tenants include the Intercontinental Exchange, Equitable Financial, Fortress Investment Group and law firm Paul, Weiss, Rifkind, Wharton & Garrison LLP. Fisher Brothers completed a $120 million capital improvement project at 1345 Avenue of the Americas in 2021. Designed by Skidmore, Owings & Merrill, the project upgraded the building’s exterior, redesigned the lobby with touchless elevators and added a new amenity floor with flexible meeting space, a tenant lounge, wellness center and an indoor terrarium. “The completion of …