LEWISVILLE, TEXAS — Baymark Health Services has signed a 30,388-square-foot office lease renewal in Lewisville, a northern suburb of Dallas. The provider of treatments for substance abuse disorders will remain a tenant at Corporate Pointe, a two-building development that is now 90 percent leased. Michael Bowles of Avison Young represented the landlord, an entity doing business as GL Corporate Pointe LP, in the lease negotiations. Jeff Eiting of Site Selection Group represented Baymark Health.
PALO ALTO, CALIF. — Gantry has secured a $13.5 million permanent loan to refinance a timely maturity on a historic office building in Palo Alto. Located at 384 University Ave., the three-story property features 14,500 square feet of rentable space, including street-level retail space with two office floors above. The property is currently fully leased with a staggered lease roll. Jeff Wilcox and Joe Foley of Gantry represented the borrowers, Big Property Ventures and Baskin Investment Group, in the financing. An institutional pension fund lender provided the five-year, fixed-rate loan, which features first-year interest-only payments followed by a 25-year amortization.
LEWISVILLE, TEXAS — Prime Controls has signed a 49,715-square-foot office lease in Lewisville, a northern suburb of Dallas. The supplier of industrial equipment is taking space within Corporate Pointe, a two-building development that is now 90 percent leased. Michael Bowles of Avison Young represented the landlord, an entity doing business as GL Corporate Pointe LP, in the lease negotiations. Eric Crutchfield of Stream Realty Partners represented Prime Controls.
KING OF PRUSSIA, PA. — Waterfall Asset Management, a New York City-based lender, has provided a $127 million loan for the refinancing of Chesterbrook, a 1.1 million-square-foot office campus located northwest of Philadelphia in King of Prussia. The borrower, Rubenstein Partners, purchased the 14-building campus in 2019 and has subsequently invested $50 million in capital improvements. Those improvements included the creation of The Circuit, an amenity center with a food hall, outdoor gathering spaces, meeting rooms, a fitness center and a 20,000-square-foot coworking suite. Shawn Rosenthal, Jason Gaccione, Jake Salkovitz, Justin Helbling, Doug Rodio, Jerry Kranzel and Bruer Kershner of CBRE arranged the loan.
DETROIT — Colliers has arranged the sale of Huntington Tower, a 21-story office building located at 2025 Woodward Ave. in downtown Detroit. Completed in 2022, the 311-foot-tall property includes 203,300 square feet of office space across 10 floors along with 10 levels of structured parking, a ground-floor bank and lobby, collaborative workspaces and flexible floor plates designed to accommodate up to 800 employees. The asset, located across from Comerica Park in the heart of The District Detroit, features a long-term net lease to Huntington Bancshares. Raymond Jonna of Colliers represented the undisclosed buyer and the seller, The Herrick Co., a Florida-based investment firm. The transaction is likely the most expensive office sale in city history, according to Crain’s Detroit Business.
ARLINGTON, VA. — Lincoln Equities Group (LEG) and JM Zell Partners have submitted an application to convert the former headquarters of the Transportation Security Administration (TSA) in Arlington’s Pentagon City neighborhood into apartments. The project would reposition the two vacant office buildings, which the TSA vacated in 2020, into a property with 637 apartments and 31,000 square feet of retail space. In addition to converting 571,564 square feet of obsolete office space, plans for the 4.9-acre site include developing 116,244 square feet of new residential floor area, two new retail areas and a half-acre public plaza that connects to the Metro, as well as maintaining the 900-space underground parking garage that serves both buildings. LEG and JM Zell’s plans were submitted to Arlington County earlier this month and are pending review and approval. The design-build team includes Arquitectonica (architect) and Oculus (landscape architect). The co-developers have selected Wire Gill LLP as their land use attorney.
By Andy Gutman, Farbman Group The Detroit office market has moved past the initial shock of the post-pandemic years, but the idea that all challenges are over would be premature. Looking ahead in 2026, office in Detroit would be best described as stabilizing but still highly selective, shaped by a continued flight to quality, cautious capital markets and a growing emphasis on service and tenant experience. While vacancy remains elevated compared with pre-pandemic norms, limited new construction and a clear bifurcation between high- and low-quality assets are helping prevent further deterioration. The next phase of the cycle will be defined by how effectively landlords adapt to tenant expectations and how long it takes for capital markets to allow older assets to meaningfully change hands. Detroit office in 2026 By the numbers, Detroit’s office market in 2026 shows stability without significant growth pressure. Vacancy estimates range from approximately 15.7 to 23.3 percent, depending on data source and asset class. Marcus & Millichap, for example, projects a 2026 year-end vacancy of roughly 15.7 percent, which is a modest 10-basis-point increase year-over-year. Broader datasets that include older inventory report vacancy closer to 23 percent. Asking rents have remained largely flat, with Class A …
HOUSTON — Melton & Melton has signed a 31,013-square-foot office lease in Houston’s Westchase district. The accounting firm is relocating to Westchase Park I, which is part of a two-building, 579,032-square-foot campus. Matt Asvestas and Brian Strait of Stream Realty Partners represented the landlord, Canyon Creek Real Estate, in the lease negotiations. Cody Little of JLL represented Melton & Melton.
KENNESAW, GA. — Yamaha Motor Co. Ltd. has announced plans to move its U.S. headquarters to the northern Atlanta suburb of Kennesaw after nearly 50 years of operation in Cypress, Calif. Yamaha Motor, which manufactures ATVs, boat engines, jet skis and other motorized products, has a strong presence in Georgia already. The Japanese-based company employs 2,300 Georgians at its 1.3 million-square-foot factory in Newnan and its marine and motorsports divisions in Kennesaw, which includes the 75,000-square-foot Marine Innovation Center that opened in 2023. Yamaha Motor Co. will begin its corporate relocation from California to Kennesaw this year and complete the process in 2028.
BOSTON — Shaving products company P&G Gillette has unveiled plans to purchase 232 A Street in South Boston as the future home of its nearly $1 billion Grooming Headquarters and Technical Innovation Center. The company is also expanding its Andover, Mass., manufacturing facility and redeveloping its 31-acre South Boston campus. The new headquarters announcement marks the single-largest investment made by Gillette in Boston, according to the company. The site is currently owned by Breakthrough Properties, a joint venture between Tishman Speyer and Bellco Capital. It is permitted for a 324,315-square-foot research-and-development facility with ground-floor retail space. Jonathan Varholak of CBRE led the brokerage team that facilitated the land sale. Gillette says the purchase of the site unlocks multiple project benefits agreed to when the site was permitted by Breakthrough Properties in 2024. Once complete, the project will contribute 1.5 acres of publicly accessible open space along the Fort Point Channel, including new sidewalks, bike lanes, a waterfront park and improvements to the South Boston Harborwalk. The parcel also includes monetary allocations for public art and shuttle services. “This new development will keep hundreds of high-tech research-and-development jobs in the city and serves as a testament to the strength of our …
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