Saturday, May 24, 2025
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Office

21680-Gateway-Center-Dr-Diamond-Bar-CA
AcquisitionsCaliforniaLee & AssociatesOfficeWestern

NAI Capital, Lee & Associates Negotiate $28.2M Acquisition of Two Office Buildings in San Gabriel Valley, California

by Amy Works

DIAMOND BAR AND MONTEREY PARK, CALIF. — NAI Capital Commercial has arranged the sale of two separate office buildings in Diamond Bar and Monterey Park, both located in the San Gabriel Valley east of Los Angeles. The assets sold for a total consideration of $28.2 million. Ryan Campbell of NAI Capital Commercial’s Investment Services Group and Tony Naples of Lee & Associates represented the buyer, a private investor, in the transactions. In the first deal, the 80,753-square-foot building at 21680 Gateway Center Drive in Diamond Bar sold for $18.9 million, or $234 per square foot. Situated on a 13.3-acre campus, the fully renovated asset is fully leased to 13 diverse tenants. In the second transaction, a 39,233-square-foot facility at 1100 Corporate Center Drive in Monterey Park sold for $9.3 million, or $237 per square foot. The two-story standalone building features ample parking. The seller or sellers were not disclosed.

Continue Reading
FacebookTwitterLinkedinEmail
Churchill-Tower-Dallas
AcquisitionsOfficeTexas

JLL Brokers Sale of 277,187 SF Churchill Tower Office Building in North Dallas

by Taylor Williams

DALLAS — JLL has brokered the sale of Churchill Tower, a 277,187-square-foot office building in North Dallas. Built in 1999 and recently renovated, the 12-story building was 73 percent leased at the time of sale to tenants such as Carr Riggs & Ingram, Level Four Advisory Services, Borden and Relation. Amenities include a fitness center, conference center and a café. Todd Savage, Ben Esterer, Megan Babovec and Andrew Griffin of JLL represented the undisclosed seller in the transaction and procured the buyer, Irving-based TXRE Properties.

Continue Reading
FacebookTwitterLinkedinEmail
200-Park-Avenue-Manhattan
Leasing ActivityNew YorkNortheastOffice

CBRE Extends 180,000 SF Office Lease at 200 Park Avenue in Midtown Manhattan

by Taylor Williams

NEW YORK CITY — CBRE has extended its 180,000-square-foot office lease at 200 Park Avenue in Midtown Manhattan through 2036. The Dallas-based real estate giant has been a tenant at the 58-story, 3.1 million-square-foot building, which recently underwent a $200 million capital improvement program, since the late 1980s. The owner, Irvine Co. Office Properties, has also appointed CBRE as the building’s new leasing agent and property manager. CBRE will also establish a branded space on the lobby level that will be exclusively used by the company’s employees, clients and colleagues visiting from other offices.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentIllinoisMidwestOffice

Skender Tops Out Construction of 409,000 SF Office Building in Chicago’s Fulton Market

by Kristin Harlow

CHICAGO — Skender has topped out construction of 919 W Fulton, an 11-story office building totaling 409,000 square feet in Chicago’s Fulton Market. Developed by Fulton Street Cos. and JDL Development, the project is slated to open in 2025. Amenities will include several outdoor terraces, a rooftop lounge and bar, several conference and coworking spaces, and a fitness center. Notable tenants will include Chicago-based real estate investor Harrison Street Real Estate Capital and a first-floor restaurant from the Gibsons Restaurant Group. Financial backing for the project was secured through strategic partnerships with Bank of the Ozarks and Manulife. SNK Capital, led by Shanna Khan, is the lead equity investment partner. Fitzgerald Associates is the architect of record, with Morris Adjimi Architects providing the initial design. Thornton Tomasetti is the structural engineer, Eriksson is the civil engineer, Syska Hennessy Group is the mechanical, electrical and plumbing engineer and Site Design Group Ltd. Is the landscape architect.

Continue Reading
FacebookTwitterLinkedinEmail
Leasing ActivityMidwestMissouriOffice

Lathrop GPM Relocates St. Louis Office to The Plaza at Clayton

by Kristin Harlow

CLAYTON, MO. — Law firm Lathrop GPM has relocated its St. Louis office to The Plaza at Clayton effective July 1. The new space, similar to the firm’s offices in Denver, Minneapolis and Chicago, features a flexible design for increased collaboration and client support. Since the beginning of 2022, six attorneys have joined the office in several practice areas. The Plaza at Clayton is situated in the immediate western suburb of Clayton. The property totals 340,529 square feet and rises 16 stories. Amenities include a clubroom, rooftop deck, fitness center, game room, conference center and reception center. The new Lathrop GPM space totals 16,023 square feet on the 14th floor.

Continue Reading
FacebookTwitterLinkedinEmail
612-S-Broadway-Los-Angeles-CA
AcquisitionsCaliforniaOfficeRetailWestern

Cushman & Wakefield Negotiates $16M Sale of Office/Retail Building in Los Angeles

by Amy Works

LOS ANGELES — Cushman & Wakefield has arranged the sale of 612 S. Broadway, a landmark building in downtown Los Angeles’ historic core. The six-story creative office and retail property traded for $16 million. Terms of the transaction were not released. Mike Condon Jr., Erica Finck, Reid Gratsch, Brittany Winn, Kylie Rawn and Mark Zakarian of Cushman & Wakefield brokered the transaction. Originally built in 1924 as Desmond’s Department Store and designed by A.C. Martin, the 80,000-square-foot building underwent a redevelopment transforming it into creative office building. Omgivning oversaw the redevelopment, which included adding two floors atop the original structure.

Continue Reading
FacebookTwitterLinkedinEmail
Market ReportsOfficeSoutheastSoutheast Market ReportsTennessee

Memphis Office Market Holds Steady Amid Post-Pandemic Headwinds

by John Nelson

The Memphis office market continues to defy national post-pandemic office trends, fueled by persistent occupier demand and limited amounts of vacancy within primary submarkets. Although, the market closed out the 2023 year with 34,430 square feet of occupancy losses caused by two large tenant vacancies, the first quarter of 2024 reversed the trend as net absorption swung positive, recording 140,788 square feet of occupancy gains.  The Memphis unemployment rate remained low at 3.5 percent in May, just above the Tennessee unemployment rate of 3.0 percent and below the national average of 4.0 percent, according to data from the U.S. Bureau of Labor Statistics.  Ford Motor Company’s Blue Oval City began its hiring in 2023, with most of its hiring to occur in the second half of this year, which could begin to further compress the unemployment rate, as approximately 5,600 direct jobs are estimated to be created in West Tennessee. The company leased 42,910 square feet of office space on the edge of the Memphis office market. The auto giant plans to use the new space as a training facility.  Additionally, the Elon Musk-led xAI company announced Memphis as being the new home for its “Gigafactory of Compute,” claiming to …

Continue Reading
FacebookTwitterLinkedinEmail
Leasing ActivityOfficeTexas

Oxford Partners Negotiates 10,150 SF Office Sublease in Houston’s Greenway District

by Taylor Williams

HOUSTON — Locally based brokerage firm Oxford Partners has negotiated a 10,150-square-foot office sublease in Houston’s Greenway District. The sublessee, law firm Webster Vicknair MacLeod, is taking space at 24 Greenway Plaza, a 510,000-square-foot building that is owned by Granite Properties. Ryan Hartsell of Oxford Partners represented the law firm in the sublease negotiations. Nick Terry of Rifle CRE represented the sublessor, Wyatt Ranches of Texas LLC.

Continue Reading
FacebookTwitterLinkedinEmail
Leasing ActivityOfficeTexas

Avison Young Arranges 104,013 SF Office Headquarters Lease in Houston

by Taylor Williams

HOUSTON — Avison Young has arranged a 104,013-square-foot office headquarters lease in Houston. The tenant, Camden Property Trust, will relocate from Greenway Plaza to floors 25 through 29 at Williams Tower, a 1.4 million-square-foot building located at 2800 Post Oak Blvd. in Houston’s Galleria neighborhood. Anthony Squillante and Dustin Devine of Avison Young represented the tenant, which plans to take occupancy next fall, in the lease negotiations. Warren Savery and Nina Seyyedin of CBRE represented the landlord, Atlanta-based Invesco Real Estate.

Continue Reading
FacebookTwitterLinkedinEmail
8980-Villa-La-Jolla-Dr-San-Diego-CA
CaliforniaCivicDevelopmentOfficeRetailWestern

GPI Cos. Completes 114,000 SF Academic Facility for UC San Diego

by Amy Works

SAN DIEGO — GPI Cos., in partnership with the University of California, San Diego, has completed the development of 8980 Villa La Jolla Drive, an academic facility in at the corner of La Jolla Village and Villa La Jolla drives in San Diego. The nine-story, 114,000-square-foot building is directly across from the university and serves as a gateway to the main campus. The building includes academic, administrative and research space and will be a hub for students, faculty and patients, as well as the home for various programs offered by UC San Diego Health Sciences and UC San Diego Division of Extended Studies. Additionally, Bird Rock Coffee Roasters will occupy ground-floor retail space at the building. The project team included Gensler’s San Diego office as architect and Swinerton Builders as general contractor. JLL will manage the building.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts