Office

Newmark Arranges Sale, Financing of 1.4 MSF Office Campus in Irving

by Taylor Williams May 19, 2026

IRVING, TEXAS — Newmark has arranged the sale and financing of The Towers at Williams Square, a 1.4 million-square-foot office campus in Irving’s Las Colinas district. The Towers at Williams Square consists of four buildings, three of which are interconnected, and that recently underwent $25 million in renovations across the lobbies, amenity spaces and other common areas. Chris Murphy, Gary Carr, Robert Hill and Austin Sheahan of Newmark represented the undisclosed seller in the transaction. Andrew Porteous, Clint Frease, Chris McColpin and Josh Francis, also with Newmark, arranged acquisition financing on behalf of the buyer, a joint venture between Vanderbilt Office Properties, Hillwood and TriPost Capital Partners. The campus was 76 percent leased at the time of closing.

May 19, 2026

Acquisitions New Jersey Northeast Office

Colliers Brokers Sale of 45,800 SF Office Building in Warren, New Jersey

by Taylor Williams May 19, 2026

WARREN, N.J. — Colliers has brokered the sale of a 45,800-square-foot office building in the Central New Jersey community of Warren. The building at 45 Technology Drive was vacant at the time of sale. Jacklene Chesler, Patrick Norris and Brittany Leventoff of Colliers represented the seller and procured the buyer and future occupant, both of which requested anonymity, in the transaction.

May 19, 2026

Leasing Activity New York Northeast Office

Steadfast Financial Signs 21,640 SF Office Lease Renewal in Midtown Manhattan

by Taylor Williams May 19, 2026

NEW YORK CITY — Steadfast Financial LP has signed a 21,640-square-foot office lease renewal in Midtown Manhattan. The investment advisory firm will continue to occupy the entire 20th and 21st floors at 450 Park Avenue, a 33-story building that was originally constructed in 1972. Ben Friedland and Taylor Scheinman of CBRE represented the tenant in the lease negotiations. The landlord, SL Green, was self-represented.

May 19, 2026

Features Heartland Feature Archive Office

A Winning Recipe for Office Conversions

by Kristin Harlow May 19, 2026

The number of underutilized office buildings being converted into apartment units continues to steadily rise, largely due to the acceptance that the post-COVID hybrid work format is here to stay. At the start of 2026, the national office-to-apartment conversion pipeline reached 90,300 units, up 28 percent year over year and nearly four times larger than in 2022, according to RentCafe, a sister company of Yardi Matrix. Office conversions now account for almost half (47 percent) of all planned adaptive reuse projects nationwide (roughly 90,300 apartments out of 193,900 planned projects). Behind New York City and Washington, D.C., Chicago ranks third on the list for the largest office-to-apartment conversions pipeline, according to RentCafe. Cleveland and Cincinnati round out the top 10. Five other Midwest markets — Detroit, Minneapolis, Kansas City, Milwaukee and St. Louis — are included in the top 20. These cities are deploying combinations of tax-increment financing (TIF), local tax abatements, Housing Trust Fund dollars and historic tax credits to support office conversions in their downtown districts, says Al Fiesel, commercial business unit leader at Chicago-based LJC Design & Engineering. “The specific tools differ by market, but the underlying premise recognizes that public participation is the mechanism that makes …

May 19, 2026

Market Reports Multifamily Office Texas Texas Market Reports

The Dawn of Y’all Street: What the Texas Stock Exchange Means for Big D

by Taylor Williams May 19, 2026

The Texas Stock Exchange (TXSE) represents the most serious attempt in 55 years to challenge the NYSE-Nasdaq duopoly and signals something that has not happened in generations: New York City’s monopoly on exchange infrastructure now has a credible challenger. As the TXSE prepares to launch in phases through 2026, EMBREY, a San Antonio-based investment and development firm, shares insights on how the exchange could further reinforce Dallas-Fort Worth’s (DFW) emergence as one of the country’s most important financial and economic centers. We also consider the direct implications for long-term economic growth and multifamily demand correlated to the launch of TXSE. Announced in 2024 and approved by the SEC in 2025, the TXSE has already raised more than $270 million from institutions including BlackRock, Citadel Securities, J.P. Morgan, Goldman Sachs, Bank of America and Charles Schwab. The exchange’s pitch to public companies centers around lower listing costs, fewer prescriptive requirements and a governance framework designed for operators. Combined with the state’s broader efforts to position itself as an increasingly attractive destination for business and corporate investment, the TXSE reinforces a larger shift already underway across North Texas. The exchange arrives at a time in which DFW has already evolved into one …

May 19, 2026

Georgia Leasing Activity Office Retail Southeast

JLL Inks 70,000 SF of New Leases at Westside Paper Adaptive Reuse Development in Atlanta

by Abby Cox May 18, 2026

ATLANTA — JLL has inked five new leases totaling 70,000 square feet at Westside Paper, a 15-acre adaptive reuse development located along the Atlanta BeltLine. Packsize, an on-demand packaging and automation company, signed a lease for 30,000 square feet. Construction Resources, which is owned by The Home Depot, is adding to their existing 50,000-square-foot showroom with a 23,000-square-foot office lease for its new headquarters. Disguise, a global visual experience technology company, will occupy 10,000 square feet, while Luxe Bridal will occupy 3,000 square feet. In the past 20 months, 180,000 square feet of new leases have been signed at Westside Paper. The project is now 75 percent occupied. Andrew Walker and Lauren Curran of Colliers represented Disguise; Jeremy Krause and Ben Kronman of CBRE represented Packsize; and Jeff Pollock of Pollock Commercial represented Luxe Bridal. David Horne, Caroline Fisher and Randy Joering of JLL represented ownership for the office lease negotiations, while Shelbi Bodner of Bridger Properties represented ownership for the retail leases. Developed and owned by FCP, a subsidiary of Federated Hermes Inc., and Atlanta-based Westbridge, Westside Paper is a 70-year-old former industrial warehouse that spans 245,000 square feet of mixed-use space.

May 18, 2026

California Development Loans Multifamily Office Western

Silicon Valley Initiative Partnership Receives $74.1M in Financing for Office-to-Residential Conversion Project in San Jose

by Amy Works May 18, 2026

SAN JOSE, CALIF. — Silicon Valley Initiative Partnership has received $74.1 million in financing for the conversion of the historic Bank of Italy building, located at 12 S. 1st St. in downtown San Jose, into a mixed-use residential and retail property. Deutsche Bank provided the financing. Originally constructed in 1926, the 13-story office tower will be transformed into a 126,000-square-foot multifamily and commercial space. The residential portion will feature 109 studio, one- and two-bedroom, market-rate apartments complemented by a fitness center, lounge and an outdoor terrace. Dave Karson, Chris Moyer, Alex Lapidus and Chris Meloni of Cushman & Wakefield arranged the financing on behalf of of the borrower.

May 18, 2026

Acquisitions Arizona Office Western

Trade Winds Properties Acquires Office Condos in Tucson for $1.8M

by Amy Works May 18, 2026

TUCSON, ARIZ. — Trade Winds Properties LLC has purchased 13,602 square feet of office condos within St. Mary’s Medical Plaza II, located at 1704 W. Anklam Road in Tucson. NWI St. Mary Medical Plaza Holdco LLC sold the assets for $1.8 million. Thomas Nieman and Bryce Horner of Cushman & Wakefield | PICOR represented the seller, while Timothy Redelsperger of Long Realty Uptown represented the buyer in the deal.

May 18, 2026

Georgia Leasing Activity Office Southeast

Two Tenants Join Pennant Park Office Campus Near Atlanta Braves Stadium

by Abby Cox May 18, 2026

ATLANTA — Two tenant have joined the tenant roster at Pennant Park, a six-building, 763,465-square-foot office complex located adjacent to The Battery Atlanta, the mixed-use village surrounding Truist Park, the home ballpark of the Atlanta Braves. Chattanooga College, a for-profit post-secondary institution, has signed an 11-year lease for 27,000 square feet, while parking garage operator LAZ Parking has signed a 10-year, 5,700-square-foot office lease that will serve as its regional headquarters. Both tenants will occupy space in the 360 Building at Pennant Park. Atlanta Braves Holdings Inc. — owner and operator of the Atlanta Braves MLB team, the Battery Atlanta mixed-use development and Truist Park — purchased Pennant Park in April 2025.

May 18, 2026

Leasing Activity New York Northeast Office

Latham & Watkins Signs 131,000 SF Office Lease Expansion in Midtown Manhattan

by Taylor Williams May 18, 2026

NEW YORK CITY — Latham & Watkins has signed an 11-year 131,000-square-foot office lease expansion in Midtown Manhattan. The law firm now occupies 251,000 square feet at 1285 Avenue of the Americas. Scott Gamber, Craig Reicher and Emily Chabrier of CBRE represented the tenant in the lease negotiations. Robert Alexander, Ryan Alexander, Taylor Callaghan, Alexander Benisatto and Walter Graham of CBRE, along with Patrick Murphy of JLL and internal agents William Elder and Daniel Birney, represented the landlord, RXR.

May 18, 2026

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