Office

Spotify Signs 20,000 SF Office Lease Within Oasis at Wynwood in Miami

by Alex Tostado February 28, 2020

MIAMI — Spotify has signed a 20,000-square-foot lease to anchor the office component of The Oasis at Wynwood, a mixed-use development in Miami’s Wynwood submarket. The music streaming company is based in Stockholm and has its U.S. headquarters in New York City. The Oasis at Wynwood will feature 20,000 square feet of office space; 17,000 square feet of retail space; and a 35,000-square-foot landscaped courtyard featuring an outdoor food hall, a stage that will have live music programming on a nightly basis, an outdoor bar and a 75-foot tower featuring rotating art installations. New York City-based developer Carpe Real Estate is developing the project, which is slated to open by the end of this year. Brian Gale and Andrew Trench of Cushman Wakefield represented the landlord in the transaction. JLL represented Spotify.

February 28, 2020

Chandler-Corporate-Center-II-Chandler-AZ

Arizona Development Office Western

VanTrust Real Estate Begins Construction of 118,000 SF Chandler Corporate Center II in Arizona

by Amy Works February 28, 2020

CHANDLER, ARIZ. — VanTrust Real Estate has started construction on Chandler Corporate Center II, the second phase of its 26-acre business center in Chandler. Located at 4100 W. Chandler Blvd., the two-story, 118,000-square-foot office building will feature a two-story glass entrance enhanced with stone, wood and ceramic tile lobby finishes, along with integrated LED light fixtures. Designed by Butler Design Group, the building will consist of precast concrete perimeter bearing walls and steel frame super structures with 10- to 14-foot floor-to-floor heights. The property will be adjacent to Chandler Fashion Center and is easily accessible by nearby freeways. Slated for completion by September, the building will complement a similar building constructed in the first phase, which Allstate Insurance occupies. Future phases may include additional build-to-suit or speculative office and on-site retail space. Steven Leinweber is constructing the office project, which Colliers International is marketing.

February 28, 2020

Acquisitions Colorado Industrial Office Western

NavPoint Real Estate Arranges $11.2M Sale of Flex Building in Broomfield, Colorado

by Amy Works February 28, 2020

BROOMFIELD, COLO. — NavPoint Real Estate Group has negotiated the sale of a multi-tenant office, flex and R&D investment asset in Broomfield. Silverwood Investments sold the property to 295 Interlocken Boulevard LLC for $11.2 million. Built 1965 on 5.5 acres, the single-story building features 65,000 square feet of multi-tenant flex space. At the time of sale, the property was leased to a variety of tenants in the technology, food and transportation industries. The property is located at 295 Interlocken Blvd. Matt Call of NavPoint Real Estate Group represented the seller, while Eric Rutherford of WK Real Estate represented the buyer in the transaction.

February 28, 2020

Acquisitions Midwest Office Ohio

Time Equities Acquires 177,624 SF Loft Office Building in Cincinnati

by Kristin Harlow February 28, 2020

CINCINNATI — Time Equities Inc. has acquired 302 West Third in Cincinnati for an undisclosed price. The nine-story, 177,624-square-foot office building was originally built in 1915 and renovated in 2001 and 2016. The loft-style property features a conference center and complimentary morning coffee for all tenants, some of which include Al Neyer, Baxter Hodell Donnelly Preston Inc., Immedion and Grey Advertising. Max Pastor and Brian Soto of TEI led the acquisition on behalf of the organization. Michael Sullivan of Cushman & Wakefield represented the seller, an affiliate of HighBrook Investors.

February 28, 2020

Acquisitions Massachusetts Northeast Office Retail

Northeastern University Acquires Horticultural Hall Office, Retail Building in Boston for $22M

by Alex Patton February 28, 2020

BOSTON — Northeastern University has acquired Horticultural Hall, a 45,192-square-foot office and retail property in the Back Bay neighborhood of Boston. Located at 300 Massachusetts Ave., the building was constructed in 1901 as the headquarters of the Massachusetts Horticultural Society. At the time of sale, tenants included marketing agencies 829 Studios and Finn Partners, as well as Boston Magazine and the Museum of Fine Arts. Robert Griffin, Michael Greeley, Jason Cameron and Ali Cavanaugh of Newmark Knight Frank represented Northeastern University in the transaction. The team also represented the seller, Marcus Partners.

February 28, 2020

Leasing Activity New York Northeast Office

Law Firm Signs 14,888 SF Office Lease Expansion in Manhattan

by Alex Patton February 27, 2020

NEW YORK CITY — Law firm Rivkin Radler LLP has signed a 14,888-square-foot office lease expansion in Midtown Manhattan. The company is already a tenant at 477 Madison Avenue and will move into its new space after ownership completes the build-out later this year. The law firm represented itself in the lease negotiations. A.J. Camhi, Rob Weller and Ryan Silverman led a leasing team that represented the building owner, RFR, on an internal basis.

February 27, 2020

Leasing Activity New York Northeast Office

CBRE Negotiates 9,397 SF Office Lease in Manhattan

by Alex Patton February 27, 2020

NEW YORK CITY — CBRE has negotiated a 9,397-square-foot office lease for co-living space provider The Collective in the SoHo neighborhood of Manhattan. The tenant will occupy the entire top floor and penthouse of the SoHo Building located at 110 Greene St. beginning in early March. Alexander Golod and Neil King of CBRE represented The Collective in the lease negotiations. SL Green Realty Corp. owns the building.

February 27, 2020

Leasing Activity Office Texas

TCS Negotiates Three Office Leases Totaling 145,000 SF in Plano

by Taylor Williams February 27, 2020

PLANO, TEXAS — Transwestern Commercial Services (TCS) has negotiated three leases totaling 145,000 square feet at an office building located at 3033 W. President George Bush Turnpike in Plano. Nathan Durham and Duane Henley of TCS represented the landlord, Champion Partners, in all three lease negotiations. Brad Struck and Roy Reis of ESRP represented Paragon Healthcare in its 70,000-square-foot lease; Clay Vaughn and Preston Lynn of CBRE represented Australian technology firm Appen Inc. in its 50,000-square-foot lease; and a team led by Scott Hobbs of Cushman & Wakefield represented a division of Samsung in its 25,000-square-foot lease.

February 27, 2020

Acquisitions California Office Western

Prime US REIT Acquires Park Tower Office Building in Sacramento for $165.5M

by Amy Works February 27, 2020

SACRAMENTO, CALIF. — Prime US REIT has purchased Park Tower, an office asset in downtown Sacramento, for $165.5 million. KBS is the U.S.-based asset manager for the buyer that identified and sourced the Park Tower opportunity on behalf of Prime. Located at 980 Ninth St. and 1010 Eighth St., the 24-story property features 489,171 square feet of office, retail and parking garage space. Park Tower was built in 1992 and renovated in 2019, while its parking area was constructed in 1961 and renovated in 1988. The LEED Gold-certified building features a suite of on-site tenant amenities, including a recently renovated fitness center, locker rooms, conference center and tenant lounge. The property also offers a three-story atrium lobby, high-efficiency building systems, 15,000-square-foot to 28,000-square-foot flexible floor plates and above-market parking in two garages at a ratio of 2.4/1,000. Grant Lammersen, Steve Golubchik and Tyler Myerdirk of Newmark Knight Frank brokered the transaction. Bruce Fischer, Christine Fan and Howard Chu of Greenberg Traurig LLP’s Orange County, Calif., office served as Prime’s legal counsel in the acquisition.

February 27, 2020

Acquisitions Midwest Missouri Office Retail

Block & Co. Arranges $1.1M Sale of Office, Retail Building in Kansas City

by Kristin Harlow February 27, 2020

KANSAS CITY, MO. — Block & Co. Inc. Realtors has arranged the sale of a 12,000-square-foot office and retail building in Kansas City for $1.1 million. The property is located at 7208 Wornall Road within the Waldo District. Domino’s Pizza and Injury Chiropractic occupy the 4,000 square feet of retail space on the first floor. The second-floor office space of 5,500 square feet is currently available for lease. Marshal Blount of Block & Co. brokered the sale. An investment group purchased the asset.

February 27, 2020

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