Office

Triumph Higher Education Group to Move Headquarters to Schaumburg, Illinois

by Kristin Harlow September 18, 2018

SCHAUMBURG, ILL. — Triumph Higher Education Group has signed a 21,000-square-foot lease to move its headquarters to 150 N. Martingale Road in Schaumburg. The education provider, which owns Auguste Escoffier School of Culinary Arts, plans to move from Hoffman Estates in October. Triumph will backfill some of the office space formerly occupied by The Nielsen Company, which moved its operations to downtown Chicago last year. Andy Strand, Mark Kolar and Adam Pines of JLL negotiated the lease transaction on behalf of Triumph.

September 18, 2018

Acquisitions Connecticut Northeast Office

Avison Young Arranges Sale of 179,000 SF Office Building in Norwalk

by David Cohen September 17, 2018

NORWALK, CONN. — Avison Young has arranged the sale of the Matrix Corporate Center in Norwalk. The sales price was not disclosed. Located at 535 Connecticut Ave., the five-story property is currently 74 percent leased to a tenant roster that includes Crius, UBM and Belvoir. Sean Cahill, Gary Lyons and Blake Thomas of Avison Young represented the seller, Matrix Norwalk LLC, in the transaction. The buyer was Hanover Norwalk Investors LLC.

September 17, 2018

Acquisitions Illinois Midwest Office

Marcus & Millichap Negotiates $13.1M Sale of Loft Office Building in Chicago’s West Loop

by Kristin Harlow September 17, 2018

CHICAGO — Marcus & Millichap has brokered the sale of a four-story loft office building in Chicago’s West Loop for $13.1 million. The 30,620-square-foot building is located at 1027-1031 W. Madison St. Schafer Condon Carter (SCC), an independent creative and technology agency, occupies floors two through four. CrossTown Fitness and Madison Bar + Kitchen occupy the first floor. Built in 1872, the historic property underwent a $4 million renovation in 2011 to restore the façade and modernize the interiors. Stephen Lieberman of Marcus & Millichap represented the seller, a private partnership including principals of SCC. The company will remain a tenant at the building as part of a sale-leaseback agreement. Lieberman also procured the New York-based buyer.

September 17, 2018

Acquisitions New Jersey Northeast Office

HFF Negotiates Sale of 538,107 SF Medical Office Complex in New Jersey

by David Cohen September 14, 2018

MORRISTOWN, N.J. — HFF has negotiated the sale of a 538,107-square-foot, three-building medical office complex in Morristown. The sales price was not disclosed. The three buildings are located at 435, 465 and 475 South St. and are currently 93 percent leased to Atlantic Health System. HFF represented the seller, National Business Parks Inc., in the transaction. The buyer was Harrison Street Real Estate Capital.

September 14, 2018

Acquisitions New Jersey Northeast Office

Marcus & Millichap Brokers $8.5M Sale of Office Building in Millburn, New Jersey

by David Cohen September 14, 2018

MILLBURN, N.J. — Marcus & Millichap has brokered the $8.5 million sale of a 21,830-square-foot office building in Millburn. Located at 90 Millburn Ave., the two-story office building is fully occupied by 11 tenants. Fahri Ozturk of Marcus & Millichap represented the buyer and seller, both private investors, in the transaction. The property is located less than one mile from downtown Millburn.

September 14, 2018

Leasing Activity New York Northeast Office

Spaces Signs 110,989 SF Lease at Chrysler Building in New York

by David Cohen September 14, 2018

NEW YORK CITY — Creative workspace provider Spaces has signed a 15-year, 110,989-square-foot lease at the Chrysler Building in New York City. Jim Wenk and Kirill Azovtsev of JLL represented Spaces in the transaction. Building owner Tishman Speyer was represented in-house by Gregory Conen and Robert Weller. Spaces will occupy the seventh through the ninth floors at the 1.2 million-square-foot Chrysler Building, which is located at 405 Lexington Ave. in Midtown Manhattan. The company currently operates three workspaces in New York with three more set to open by the end of this year.

September 14, 2018

Florida Loans Office Southeast

Berkadia Secures $25M Acquisition Loan for Office Complex in Jacksonville

by Camren Skelton September 14, 2018

JACKSONVILLE, FLA. — Berkadia has arranged a $25 million loan for the acquisition of Summit at Southpoint, a 260,664-square-foot office complex located at 6410 Southpoint Parkway in Jacksonville. Charles Foschini and Christopher Apone of Berkadia arranged the three-year loan through NXT Capital on behalf of the borrower, Rose & Berg Realty Group. Transwestern arranged the acquisition on behalf of the seller, Blue Rock Real Estate LLC, which sold the complex for $29.6 million. Summit at Southpoint includes four, three-story office buildings constructed between 1988 and 1998. The complex was 82 percent leased at the time of sale to tenants such as U.S. Bank/FSV Payment Systems, Chicago Title Insurance Co., BB&T, Windstream, Occenture and Keiser University.

September 14, 2018

Acquisitions Office Southeast Virginia

Cushman & Wakefield | Thalhimer Arranges $14.7M Sale of Office Building in Richmond

by Camren Skelton September 14, 2018

RICHMOND, VA. — Cushman & Wakefield | Thalhimer has arranged the $14.7 million sale of 206,068-square-foot office building located at 6606 W. Broad St. in Richmond. Thalhimer Realty Partners (TRP), the investment and development subsidiary of Cushman & Wakefield | Thalhimer, acquired the asset from Southern States. TRP will rename the building Brookfield Place. The property, which was 70 percent leased at the time of sale, serves as the headquarters for Southern States Cooperative. Additional tenants include Virginia Urology, Wiley Wilson and Keener Communications. Brookfield Place will continue to serve as the headquarters for Southern States, which has signed a long-term lease with plans to renovate its office space. Evan Magrill and Baker Lynn of Cushman & Wakefield | Thalhimer will handle Brookfield Place’s leasing assignment, and Lindsay Mujacic of Cushman & Wakefield | Thalhimer will manage the property.

September 14, 2018

Acquisitions New Jersey Northeast Office

CBRE Brokers $19.7M Sale of Office Building in Matawan, New Jersey

by David Cohen September 13, 2018

MATAWAN, N.J. — CBRE has brokered the $19.7 million sale of a 133,678-square-foot office building in Matawan. Located at 100 Matawan Road, the Class A office building is currently 85 percent leased. More than $1.6 million in capital improvements have been made to the property since 2015. Jeffrey Dunne, Jeremy Neuer, Travis Langer and Zachary McHale of CBRE Institutional Properties represented the seller, a partnership led by Denholtz Associates, in the transaction. The buyer was Signature Acquisitions.

September 13, 2018

Acquisitions New York Northeast Office

Cushman & Wakefield, Rudder Property Group Negotiate $9.5M Sale of Office Property in Hudson Yards

by David Cohen September 13, 2018

NEW YORK CITY — Cushman & Wakefield and Rudder Property Group have negotiated the $9.5 million sale of an 11,750-square-foot office cooperative in Manhattan’s Hudson Yards neighborhood. Located at 450 West 31st St., the property includes the entire 12th floor of the building as well as the penthouse. The cooperative also includes a 4,750-square-foot private terrace and a basement storage area. Carri Lyon of Cushman & Wakefield, along with Michael Rudder and Michael Heller of Rudder Property Group, represented the seller, Studio 450. Todd Korren of Avison Young represented the buyer, Melkonian Capital Management.

September 13, 2018

Newer Posts

Older Posts