SAN ANTONIO — Locally based multifamily management and development firm Lynd has broken ground on its new, 35,000-square-foot corporate headquarters in San Antonio. The company previously occupied 20,000 square feet at the Forum Building on the city’s north side. The new building will feature a 1,200-square-foot military museum on the ground floor. The Bank of San Antonio provided financing for the project. Lynd expects to move in next summer.
RALEIGH, N.C. — HFF has brokered the $32.3 million sale of Palisades I and II, two adjacent office buildings totaling 161,480 square feet in Raleigh. Scot Humphrey, Ryan Clutter, Chris Lingerfelt and Zack Drozda of HFF arranged the transaction on behalf of the seller, CapRidge Partners LLC, and procured the buyer, Keystone Corp. Completed in 2001 and 2005, Palisades I and II are four-story buildings with a shared three-story parking deck and amenities including a café, vending area, lounge, conference center and a fitness center with lockers and showers. The properties were collectively 96.2 percent leased at the time of sale to tenants such as Kuehne + Nagel LP and NC State Student Aid Association. The buildings are located roughly four miles from North Carolina State University’s campus, and approximately 10 miles from Raleigh-Durham International Airport.
DALLAS — CBRE has brokered the sale of One AT&T Plaza, a 37-story, Class A office tower in downtown Dallas that houses AT&T’s global headquarters. Located at the corner of Commerce and Akard streets, the 965,800-square-foot property is fully leased to AT&T through 2030 and has served as the telecommunications giant’s global headquarters since 2008. Icahn Enterprises sold the property, which is currently undergoing ground-floor renovations, to a partnership between Dundon Capital Partners and Woods Capital for an undisclosed price. Michael Monahan, Gary Carr, Evan Stone, John Alvarado, Eric Mackey, Robert Hill and Jared Chua of CBRE brokered the transaction on behalf of the seller.
COLUMBIA, S.C. — Dominion Realty Partners (DRP), in partnership with Blue Vista Capital Management, has acquired Synergy Business Park, a 315,919-square-foot office park in Columbia, for $24.3 million. The new ownership plans to make significant investments in building renovations and capital improvement projects. The four-building property was 78 percent leased at the time of sale. Rob Cochran, Jared Londry and Nolan Ashton of Cushman & Wakefield arranged the transaction on behalf of the undisclosed seller.
ST. PAUL, MINN. — The Vomela Cos. has unveiled plans to build a new corporate headquarters in St. Paul. The full-service specialty graphics provider, which has operated in St. Paul since 1947, will consolidate its four Twin Cities’ facilities into the new location. The 300,000-square-foot building will be located within Beacon Bluff Business Center on the site of 3M’s former campus. RJ Ryan Construction Inc. is serving as general contractor for the project. Construction began this month. The property will feature 252,000 square feet of production space and 47,500 square feet of office space. Completion is slated for July 2019.
HOUSTON — NorthMarq Capital has arranged $54.9 million in loans for the acquisition and refinancing of four commercial properties and one apartment community located throughout the Houston area. The properties include Deer Park Marketplace, a 35,000-square-foot retail asset in Deer Park; Havenwood Office Park, a 240,000-square-foot office property in The Woodlands; Hidden Lakes Phase III, a 9,000-square-foot retail property in League City; 2700 Research Forest, a 75,000-square-foot office building in The Woodlands; and Jacinto Palms Apartments in Jacinto City. Warren Hitchcock of NorthMarq Capital’s Houston office arranged the loans on behalf of the undisclosed borrowers.
SUGAR LAND, TEXAS — WorkSuites, a provider of coworking, virtual and executive office space throughout Houston, has leased 19,692 square feet at 77 Sugar Creek, a Class A office building located in the southwestern metro of Sugar Land. Dan Boyles and Michael Mannella of NAI Partners, along with John Pelletier and Greg Burns of ESRP Advisory, represented WorkSuites in the lease negotiations. Mat Volz and Craig McKenna of Stream Realty Partners represented the landlord, Velocis.
SAN JOSE, CALIF. — Splunk Inc. has signed a long-term lease for 301,000 square feet of office space at 700 Santana Row. The 319,000-square-foot mixed-use building is under construction at the intersection of Santana Row and Olsen Drive in San Jose. Splunk is a publicly traded software company that creates applications for tracking big data. Developed by Federal Realty Investment Trust, 700 Santana Row is scheduled for delivery in 2019. The property will feature seven levels of office space above ground-floor retail space and a parking garage with approximately 1,300 spaces. San Francisco-based WRNS Studio designed the asset, which Devcon Construction is building. The all-concrete structure features 13-foot ceiling heights, a modern glass curtain wall, private terraces, a world-class urban plaza and is built to LEED Silver standards. Once completed, Santana Row will offer a total of 690,000 square feet of Class A office space, which is fully leased; 50 shops; 30 restaurants; nine personal service businesses; 615 rental apartments; 219 residential condominiums; and the 215-room Hotel Valencia.
CHARLOTTE, N.C. — HFF has brokered the sale of 500 East Morehead, a 178,336-square-foot office building in Uptown Charlotte. Ryan Clutter, Scot Humphrey, Chris Lingerfelt and Zack Drozda of HFF arranged the transaction on behalf of the seller, Beacon Partners. HFF’s Roy Rosenbaum and Sean Bannon procured the buyer, a member company of Zurich North America, advised by Zurich Alternative Asset Management, its alternative investment adviser. The sales price was not disclosed, but the Charlotte Business Journal reports the asset sold for $88.5 million. Constructed in 2017, the seven-story property features a fitness center with locker rooms and showers, conference room, three outdoor terraces, a rooftop terrace and three restaurants on the ground floor. The building was fully leased at the time of sale to tenants such as Elliott Davis, CB&I, Lennar Multifamily Communities, Guggenheim Real Estate and Hood Hargett & Associates. The restaurants at 500 East Morehead include The Packhouse, Joe & Nosh and Capishe.
RALEIGH, N.C. — CBRE | Raleigh has arranged leases with the first tenants at Crabtree Terrace, a 173,000-square-foot office building under construction in Raleigh. Coworking company Spaces signed a lease for 31,794 square feet of office space, Longleaf Law Partners signed a lease for 8,000 square feet and a high-end, large-format restaurant signed a lease for 12,500 square feet of ground-floor retail space. Chapel Hill-based East West Partners is developing Crabtree Terrace, which will include 145,000 square feet of office space and 28,000 square feet of ground-floor retail space upon completion in the fourth quarter of 2019. The building will be situated adjacent to a luxury hotel and conference center that will house a rooftop bar and full-service restaurant. Architecture firms Gensler and Kimley-Horn are designing the building, and Brasfield & Gorrie is the general contractor. Citizens Bank is providing construction financing for the project, and Northridge Capital LLC and SilverCap Partners are providing equity financing.
