Office

CBRE | Raleigh Arranges Sale of 387,987 SF Office Park in Triangle

by Camren Skelton November 1, 2017

CARY, N.C. — CBRE | Raleigh has arranged the sale of Regency Office Park, a 387,987-square-foot office campus in Cary, roughly 12 miles west of Raleigh. Ben Kilgore, Jim McMillan, Leslie Holmes, Elliott Brewer, Brad Corsmeier and Brian Carr of CBRE | Raleigh represented the seller, Regency Park Corp., in the transaction. Michigan-based Alidade Capital acquired the asset for an undisclosed price. Regency Office Park includes 2000, 3300, 3333, 3700 and 8000 Regency Parkway. At the time of sale, the property was leased to tenants including CBC Americas Corp., Michael Baker Engineering, Zurn, Siemens and Erie Insurance.

November 1, 2017

Loans New York Northeast Office

M&T Bank, Natixis Co-lead $195M in Financing for Office Building in Midtown Manhattan

by Amy Works October 31, 2017

NEW YORK CITY — M&T Bank and Natixis are co-lead arrangers on a $195 million senior loan secured by Tower 46, a Class A office building located at 55 W. 46th St. In Midtown Manhattan. The borrowers, SL Green Realty Corp. and PGIM, acquired the property in 2014. Proceeds of the loan will provide capital to complete the lease up of the building, which was built in 2013. The 347,694-square-foot property includes a commercial condominium unit that comprises the top 13 floors (22 through 34) of the building with a dedicated entrance on 46th Street, as well as retail space on the second floor and ground-floor. Tenant amenities include a Starbucks Coffee, a fitness center for tenant-use only and on-site parking.

October 31, 2017

Office Texas

JLL Brokers Sale of 136,325 SF Office Building in Northwest Houston

by Taylor Williams October 31, 2017

HOUSTON — JLL has brokered the sale of 2525 North Loop West, a 136,325-square-foot, Class B office building in northwest Houston. A partnership between Lykes Building Holding Associates and Smetana Texas Realty Associates sold the asset to 2525 Inner Loop LP for an undisclosed price. The new ownership, which now holds more than 1 million square feet of office space in the immediate area, will invest in capital improvements to the property and will bring retail space to its adjacent pad sites. Rudy Hubbard, Kevin McConn and Rick Goings of JLL brokered the sale.

October 31, 2017

New York Northeast Office Top Stories

Olayan America, Chelsfield Unveil Plans for $300M Renovation of 550 Madison Avenue in Manhattan

by Katie Sloan October 31, 2017

NEW YORK CITY — Olayan America and developer Chelsfield have unveiled plans for a $300 million renovation of 550 Madison Avenue, an office tower located in Midtown Manhattan. The property — which was completed in 1984 and designed by architect Philip Johnson — was formerly known as the Sony Tower and the AT&T Building. Olayan America acquired the property in May 2016, and has tapped design firm Snøhetta for the renovation. The renovation is set to double the size of the nearby public space; create an outdoor garden; add food and retail offerings; and partially replace the building’s eye-level façade with undulating glass to allow a transparent look into the lobby, atrium and first two levels of the building. The property will also be seeking LEED Gold certification, WELL certification from the International WELL Building Institute, and Wired certification for digital infrastructure upon completion. The property will incorporate a dedicated outdoor air ventilation system, which will ensure tenants have access to a continuous supply of fresh air while consuming less energy than a typical mechanical ventilation system. The renovation is slated for completion in 2019. Lead brokers for the project are Mary Ann Tighe, Howard Fiddle and Scott Gottlieb of CBRE. Olayan …

October 31, 2017

Colorado Office Western

Goldman Sachs, Harbor Associates Buy Colorado Bank Building in Denver

by Nellie Day October 30, 2017

DENVER — A joint venture between Goldman Sachs Asset Management Private Real Estate (GSAM PRE) and Harbor Associates has purchased the Colorado Bank Building, a 115,000-square-foot historic office building in Denver, for an undisclosed sum. The building is situated at the corner of 17th Street and Champa. The asset was built in 1907. The joint venture plans to reposition the property into high-quality creative office space. The renovation will also include a refresh of the property’s historic lobby, added bike storage, locker rooms and showers and the build-out of other on-site food and beverage amenities.

October 30, 2017

Michigan Midwest Office

Liberty Property to Manage Seven-Building Office Portfolio in Metro Detroit

by Kristin Harlow October 30, 2017

DETROIT — Liberty Property & Asset Management has been awarded the property management contract for a portfolio of seven office buildings located in metro Detroit. The properties, owned by California-based LSTC Michigan/LSTC California LLC, include: Berkshire Office Building in Beverly Hills; Haverhill Office Building in Troy; Butterfield Park Place in Troy, Hampton Professional Park in Rochester Hills; and Westridge Office Center in West Bloomfield. Liberty will be responsible for all aspects of the management and operation of the properties, while sister company L. Mason Capitani CORFAC International will continue to oversee leasing.

October 30, 2017

Illinois Midwest Office

Skender Completes 21,000 SF Office Build-Out for Climate Corp. in Chicago

by Kristin Harlow October 30, 2017

CHICAGO — Skender Construction has completed a 21,000-square-foot office build-out for The Climate Corp., a subsidiary of Monsanto Co. The company creates digital tools to help farmers sustainably increase their productivity. The new office, located at 1330 W. Fulton Market, incorporates rustic wood walls, oversized barn doors and an antique tractor on display. Two workshops house the company’s equipment and ongoing projects. A large break room offers ping pong and foosball for employees. Skender collaborated with architect Shive-Hattery and COR Consulting for the project.

October 30, 2017

Office Texas

JLL Negotiates 6,760 SF Office Lease in Dallas

by Taylor Williams October 30, 2017

DALLAS — JLL has negotiated a 6,760-square-foot office lease at 1800 Landmark Blvd. in Dallas on behalf of DerbySoft Inc., a provider of software for the hospitality industry. Steve Thelen of JLL represented the tenant in the lease negotiations. Tabitha Layne of Sunwest Real Estate Group represented the landlord, 14800 Landmark LLC. The space will serve as the company’s new North American office, which was previously located in Frisco.

October 30, 2017

North Carolina Office Southeast

MetLife to Deliver Third Building at Global Technology Campus Near Raleigh

by Camren Skelton October 30, 2017

CARY, N.C. — MetLife Inc. has broken ground on the third office building at its Global Technology Campus in Cary, roughly 12 miles west of Raleigh. Raleigh-based Highwoods Properties developed all three assets, the first two of which was delivered in 2015. Upon completion, the new building will bring more than 500 jobs to the Cary area. The Global Technology Campus sits on 26.5 acres and, at full build-out, will include three, 213,500-square-foot office buildings. The existing buildings are LEED-certified, and the new building is being designed to achieve the certification as well. The campus features a terrace overlooking Lake Crabtree, an outdoor amphitheater, basketball court, walking trails, campus-wide Wi-Fi, sit-stand desks, wellness rooms, collaborative meeting rooms, coffee bars and structured parking. The new building is slated for completion in the first quarter of 2019.

October 30, 2017

Arizona Office Western

ChargePoint Leases 10,000 SF Office Space at Riverwalk at Talking Stick in Scottsdale

by Nellie Day October 27, 2017

SCOTTSDALE, ARIZ. — ChargePoint has leased 10,000 square feet of office space at Riverwalk at Talking Stick in Scottsdale. The lease includes plans for the world’s largest electric vehicle (EV) charging network to install vehicle charging stations at the 176-acre, 1.5 million-square-foot, Class A office campus situated off Loop 101. Eric Walker of Cresa represented ChargePoint. Kurt Rosene of NOVO Development represented the landlord, Alter, in this transaction.

October 27, 2017

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