Office

Georgia Tech Research Institute Completes $42M Expansion in Marietta

by Alex Tostado May 7, 2019

MARIETTA, GA. — Georgia Tech Research Institute (GTRI) has completed a $42 million expansion that includes two buildings spanning 350,000 square feet in Marietta. The facilities are part of GTRI’s South Cobb Campus. In 20167, GTRI acquired four buildings on an unused, 52-acre Lockheed Martin site next to Dobbins Air Reserve Base. Renovations included transforming 205,500 square feet of retired office space into a research facility featuring computing and electronics laboratories. It also included the 144,500-square-foot renovation of a 403,500-square-foot high-bay industrial warehouse, which GTRI will also use for research. This space incorporates two, 10-ton cranes and a 30-ton crane to handle heavy equipment. The design team included McCarthy Building Cos. and Flad Architects. JLL’s project and development services division managed the design and construction phases.

May 7, 2019

Acquisitions Georgia Office Southeast

Newmark Knight Frank Arranges Sale of Office Building in Metro Atlanta for $10.8M

by Alex Tostado May 7, 2019

ALPHARETTA, GA. — Newmark Knight Frank (NKF) has arranged the $10.8 million sale of an 88,000-square-foot office building in Alpharetta. The property, situated at 5925 Cabot Parkway 25 miles north of downtown Atlanta, was built in 1999 and renovated in 2007. The asset offers 48 private offices, about 130 work stations, 11 conference rooms, two lounge areas and a full-service catering kitchen. Jason Schrago and Frank Clementi of NKF represented the seller, JM Family Enterprises, in the transaction. Tom Kirbo of SK Commercial Realty represented the buyer, The Woodbury Group.

May 7, 2019

Acquisitions Arizona Industrial Office Western

B.H. Properties Buys Honeywell Aerospace Glendale Office/Industrial Campus in Arizona

by Amy Works May 7, 2019

GLENDALE, ARIZ. — Los Angeles-based B.H. Properties has purchased the Honeywell Aerospace Glendale DSES Campus, located at 19019 N. 59th Ave. in Glendale, for an undisclosed price. Constructed in 1986 and situated on 45 acres, the property features 252,300 square feet of space, including offices, clean rooms, R&D labs and assembly areas. At the time of sale, the property was 100 percent occupied by Honeywell International, which signed a new lease to extend occupancy until July 2024. Mindy Korth and Kirk Kuller of Colliers International in Arizona negotiated the sale.

May 7, 2019

Acquisitions California Office Retail Western

Madison Partners Brokers $7.1M Sale of Retail, Office Building in Los Angeles

by Amy Works May 7, 2019

LOS ANGELES — Madison Partners has arranged the sale of a retail and creative office building, located at 62-66 Windward Ave. in the Venice neighborhood of Los Angeles. Southern California-based Optimus Properties sold the property to BrandView Capital Partners for $7.1 million, or $957 per square foot. Originally constructed in 1922, the 7,471-square-foot asset features a street-level portico with three retail units and a creative office unit on the second level, which features a rooftop deck. Bob Safai, Matt Case and Brad Schlaak of Madison Partners represented the seller in the deal.

May 7, 2019

Leasing Activity New York Northeast Office

Tommy Hilfiger Expands Lease to 220,000 SF at Manhattan Office Tower

by Taylor Williams May 7, 2019

NEW YORK CITY — Apparel designer and retailer Tommy Hilfiger has committed to an additional 14,054 square feet of office space at 285 Madison Avenue in Manhattan as part of a lease renewal and expansion. The company now occupies 220,000 square feet at the 26-story, Class A property, which is located at the corner of Madison Avenue and 40th Street. Matthew Astrachan, Mitchell Konsker and Steven Bauer of JLL represented PVH Corp., the parent company of Tommy Hilfiger, in the lease transaction. Konsker, along with JLL associates Alexander Chudnoff, Dan Turkewitz and Diana Biasotti, represented the landlord, RFR Realty, in the lease negotiations. Leasing agents A.J. Camhi and Ryan Silverman also represented RFR Realty on an internal basis.

May 7, 2019

Development Midwest Nebraska Office

McCarthy to Construct, Occupy New Office Building in Omaha

by Kristin Harlow May 7, 2019

OMAHA, NEB. — McCarthy Building Cos. Inc. will break ground on Wednesday, May 8 on an office and warehouse building that will serve as the company’s new local office in west Omaha. The 15,000-square-foot development will enable the construction company to expand its services within the healthcare, education, manufacturing, commercial, industrial and entertainment sectors. The office will include conference facilities and flexible gathering spaces. The climate-controlled warehouse will accommodate the delivery and short-term storage of construction materials as well as provide space for pre-assembly of building components. Completion is slated for December. Project partners include developer Tetrad Property Group, architect DLR Group and materials testing company Thiele Geotech. St. Louis-based first established its full-service Omaha office in 2007 and now oversees more than $200 million in construction work throughout Nebraska.

May 7, 2019

Acquisitions New York Northeast Office

Goldschmidt & Associates Brokers Sale of 10,000 SF Office Building in Mamaroneck, New York

by Taylor Williams May 7, 2019

MAMARONECK, N.Y. — Scarsdale, New York-based Goldschmidt & Associates has brokered the sale of the former Chase Bank building, a 10,000-square-foot office property in Mamaroneck, a northern suburb of New York City. The sales price was approximately $2 million. Pam Bren Goldschmidt and Adam Bren of Goldschmidt & Associates represented the seller in the transaction. The buyer was an undisclosed religious institution.

May 7, 2019

Acquisitions Georgia Office Southeast

KBS to Acquire Office Campus in Metro Atlanta for $91M

by Alex Tostado May 6, 2019

ALPHARETTA, GA. — KBS Strategic Opportunity REIT Inc. has entered into an agreement to acquire Georgia 400 Center, a three-building, 416,463-square-foot office campus situated on 24.4 acres in Alpharetta, for $91 million. Georgia 400 Center was built between 1998 and 2001 and is currently 85 percent leased to 31 tenants. The property is located at 2300 Lakeview Parkway, 25 miles north of downtown Atlanta. A date for the expected closing and the seller were not disclosed.

May 6, 2019

Leasing Activity New York Northeast Office

CBRE Negotiates 241,657 SF Office Lease Restructuring for Colgate-Palmolive in Manhattan

by Taylor Williams May 6, 2019

NEW YORK CITY — CBRE has negotiated a 241,657-square-foot office lease restructuring for global household products provider Colgate-Palmolive Co. at 300 Park Avenue in Midtown Manhattan. Colgate-Palmolive serves as the anchor tenant at the Class A office tower, which is owned by local investment firm Tishman Speyer. The company will consolidate its current footprint to six floors at the 26-story building. Mary Ann Tighe, Mike Geoghegan, Ken Meyerson and Ariel Ball of CBRE represented Colgate-Palmolive in the lease negotiations. Tishman Speyer was represented internally.

May 6, 2019

Leasing Activity New York Northeast Office

RFR Realty Signs Three Tenants to New Office Leases Totaling 53,000 SF in Manhattan

by Taylor Williams May 6, 2019

NEW YORK CITY — Locally based investment firm RFR Realty has signed office leases with three new tenants at 17 State Street, a 42-story tower in Manhattan’s Financial District. The new leases total approximately 53,000 square feet. Global investment firm Alphadyne Asset Management LP signed a 43,872-square-foot lease extension; finance firm Arles Management inked a 4,318-square-foot lease and real estate investment firm RC BME Holdco LLC signed a 5,042-square-foot new lease. Mitchell Konsker, John Wheeler and Clayton Kline of JLL, along with A.J. Camhi and Ryan Silverman of RFR Realty, represented the building ownership in each of the lease negotiations. JLL represented the tenants in the first two deals, and CBRE represented the tenant in the third transaction.

May 6, 2019

Newer Posts

Older Posts