Office

Messerli Kramer Signs Full-Floor Office Lease at 50 South Sixth in Minneapolis

by Kristin Harlow January 28, 2025

MINNEAPOLIS — Law firm Messerli Kramer has signed a full-floor office lease at 50 South Sixth, a 29-story office building in the central business district of Minneapolis. The firm, which plans to occupy the space in the third quarter, is upgrading its facilities. Trinette Wacker and Reed Christianson of Transwestern Real Estate Services represented the owner, Mapletree Investments. Transwestern also manages the building, which opened in 2001. David Buyse and Rory Johnson of Corporate Tenant Advisors represented Messerli Kramer.

January 28, 2025

Development Florida Leasing Activity Mixed-Use Office Southeast Top Stories

Amazon to Anchor 1 MSF Wynwood Plaza Mixed-Use Development in Miami

by John Nelson January 28, 2025

MIAMI — Amazon (NASDAQ: AMZN) has signed on to anchor Wynwood Plaza, a 1 million-square-foot mixed-use campus nearing completion in Miami’s Wynwood Arts District. The Seattle-based e-commerce giant will occupy 50,333 square feet within the development’s 12-story office tower that is set to deliver in the coming months. The landlords in the lease transaction are New York City-based L&L Holding Co. and Oak Row Equities, which has offices in New York City and Miami. The partners are co-developing Wynwood Plaza with Shorenstein Investment Advisors and investment partner Claure Group, which will also be a tenant in the building. The office tower will span 266,000 square feet and include an array of indoor and outdoor amenities, including an amenity hub on the second floor that will feature a fitness club with high-end equipment, showers and lockers, as well as a golf simulator and conference rooms. Other features of the tower include floor-to-ceiling windows, private tenant terraces and an expansive lobby. Office tenants will have direct access to Wynwood Plaza’s onsite parking garage and ground-level restaurants and shops, as well as a landscaped courtyard and a shaded rooftop area with flexible seating arrangements. Amazon will join other committed office tenants including Claure …

January 28, 2025

Acquisitions Office Texas

David Weekley Homes Buys 50,000 SF Office Building in Northwest Houston

by Taylor Williams January 27, 2025

HOUSTON — David Weekley Homes has purchased a 50,000-square-foot office building located at 8847 W. Sam Houston Parkway in northwest Houston. The locally based residential homebuilder plans to relocate from its current space at 1111 N. Post Oak Road to the new building, which according to LoopNet Inc. was constructed in 2011, before the end of the year. The seller and sales price were not disclosed.

January 27, 2025

Arkansas Development Mixed-Use Office Restaurant Retail Southeast

Walmart Debuts 350-Acre Corporate Headquarters Campus in Bentonville, Arkansas

by John Nelson January 27, 2025

BENTONVILLE, ARK. — Walmart has debuted its new 350-acre home office campus in Bentonville that features 12 office buildings. The campus also includes the 8th & Plate food hall that will be occupied by Bentonville Bicycle Co., Flyway Brewing, Gearhead Outfitters, The Gents Place, Hatch Early Mood Food, Jamba Juice, Riserva Bar + Tapas, Swig, Walmart Pharmacy, Wright’s BBQ and Yokozuna Sushi. The campus also offers Little Squiggles onsite childcare and Onyx Coffee Lab, as well as seven miles of walking and biking paths, more than 1,000 bike parking spots, rentable bikes, 300 electric vehicle charging stations and Walton Family Whole Health & Fitness.

January 27, 2025

Development Office Southeast Virginia

HITT Contracting Breaks Ground on 270,000 SF Office Headquarters in Falls Church, Virginia

by John Nelson January 27, 2025

FALLS CHURCH, VA. — HITT Contracting has broken ground on its new headquarters facility at 7125 W. Falls Station Blvd. in Falls Church, roughly 10 miles west of Washington, D.C. The property will be a six-story building spanning 270,000 square feet of office and laboratory space, including a 40,000-square-foot research lab that HITT will operate in partnership with Virginia Tech’s Coalition for Smart Construction. The project architect, Gensler, designed the facility to achieve LEED Platinum certification. Upon completion in early 2027, the property will accommodate more than 900 local HITT team members.

January 27, 2025

Company News Office Top Stories

AT&T Completes 13 MSF National Office Sale-Leaseback Deal With Reign Capital, Nets $850M in Proceeds

by Taylor Williams January 27, 2025

DALLAS — AT&T Inc. (NYSE: T) has completed a sale-leaseback transaction with New York City-based development and investment firm Reign Capital that encompasses approximately 13 million square feet of office space across 74 U.S. properties. The deal, which closed earlier this month, nets the Dallas-based telecommunications giant about $850 million in upfront cash proceeds. The names and locations of the AT&T-owned buildings in which the spaces are located were not disclosed. According to AT&T, the majority of the space that was sold was originally designed and developed “to house and connect large, bulky and energy-intensive equipment for outdated copper networks.” AT&T further explained that “as customers move[d] from copper to fiber and wireless, a smaller, more efficient equipment footprint is managing the network. This technology evolution not only reduces power consumption, benefitting the environment, but also lowers operating costs and frees up valuable real estate for other uses.” AT&T plans to exit the large majority of its legacy copper network operations by the end of 2029. Under the terms of the deal, AT&T will make lease payments to Reign Capital for the duration of the lease term and maintain exclusive operational control of space required for access to communications infrastructure in …

January 27, 2025

Acquisitions Office Texas

JLL Brokers Sale of 105,493 SF Office Building in West Houston

by Taylor Williams January 24, 2025

HOUSTON — JLL has brokered the sale of Ten Plaza West, a 105,493-square-foot office building in West Houston. The six-story, recently renovated building was 76 percent leased at the time of sale to tenants in industries such as oil and gas, construction, financial services and law. Marty Hogan led the JLL team that represented the seller, Los Angeles-based Parkview Financial, in the transaction. The buyer was an undisclosed private investor.

January 24, 2025

Illinois Leasing Activity Midwest Office

Fortune Brands Consolidates US Offices into Deerfield, Illinois Headquarters

by Kristin Harlow January 24, 2025

DEERFIELD, ILL. — Fortune Brands Innovations Inc. is consolidating its U.S. regional offices into one campus headquarters in the northern Chicago suburb of Deerfield. Fortune Brands will occupy two buildings on its campus in Deerfield. The company was incented to expand its headquarters in Illinois with annual tax credits to be provided through the State of Illinois Economic Development for a Growing Economy program. By the end of 2027, Fortune Brands will have capacity for over 1,000 professional associates in its new headquarters. This includes associates who relocate from one of the company’s current offices as well as roles newly hired in the Chicago area. The company’s digital-focused office in San Francisco, along with its U.S. manufacturing facilities, U.S. distribution centers, sales offices and international sites, will continue operations as usual.

January 24, 2025

Development Loans Mixed-Use Multifamily New York Northeast Office Retail Top Stories

NuVerse Advisors Receives $99M Construction Loan for Office-to-Residential Conversion Project in New York City

by Channing Hamilton January 24, 2025

NEW YORK CITY — NuVerse Advisors LLC has received a $99 million construction loan to convert The Emmet Building, a 17-story office building at 95 Madison Ave. in New York City, for residential use. The vacant property was originally constructed between 1911 and 1912 as a loft office building with grade-level retail space. The building will be converted into 65 residential condominiums across 108,000 square feet, along with 17,000 square feet of retail space and 3,400 square feet of office space. Internal demolition is currently in progress. However, an expected delivery date was not disclosed. The conversion is sponsored by NuVerse Advisors’ S3 Multi Strategy Global Fund, with Sunlight Development as a strategic partner and general contractor. BHI — the U.S. branch of Tel Aviv, Israel-based Bank Hapoalim BM — is the senior lender in the financing. Under the terms of the loan, BHI will provide $40 million of debt. The company has worked with several financial partners to arrange the remainder of the financing. “BHI was a trusted partner in financing the acquisition of this property this past summer and we’re thrilled to work together again now as we redevelop this property for residential use,” said Dov Schlein, managing …

January 24, 2025

Acquisitions Office Texas

STRIVE Arranges Sale of 195,172 SF Office Complex in Irving

by Taylor Williams January 23, 2025

IRVING, TEXAS — Locally based investment sales brokerage firm STRIVE has arranged the sale of Plaza One61, a 195,172-square-foot office complex in Irving. According to LoopNet Inc., the four-story building was originally constructed in 1999. Parker Tims and Jennifer Pierson of STRIVE represented the seller, an Oklahoma-based investor, in the all-cash transaction and procured the locally based buyer. Both parties requested anonymity. Plaza One61 was 74 percent leased at the time of sale.

January 23, 2025

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