Thursday, November 21, 2024
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Office

Remington-Square-Houston
AcquisitionsOfficeTexas

JLL Brokers Sale of 392,357 SF Remington Square Office Complex in Northwest Houston

by Taylor Williams

HOUSTON — JLL has brokered the sale of Remington Square, a 392,357-square-foot office complex in northwest Houston. Built in phases between 2008 and 2015, Remington Square comprises three buildings on a 16.7-acre site that can also support the development of a fourth building. Amenities include a restaurant with catering service, a fitness center, tenant lounge and a conference facility. Kevin McConn, Marty Hogan and Rick Goings of JLL represented the seller, institutional investment firm BGO, in the transaction. The trio also procured the buyer, locally based investment firm Interra Capital Group.

Continue Reading
FacebookTwitterLinkedinEmail
799-Broadway-Manhattan
AcquisitionsNew YorkNortheastOffice

Savanna Acquires Manhattan Office Building for $255M

by Taylor Williams

NEW YORK CITY — Locally based investment firm Savanna has acquired 799 Broadway, a 176,588-square-foot office building in Manhattan’s Greenwich Village area, for $255 million. Designed by Perkins & Will, the 12-story building was completed in 2022 and was 71 percent leased at the time of sale, with the tenant roster carrying a weighted average remaining lease term of 11 years. The building also houses a tenant lounge, outdoor amenity spaces and ground-floor retail space. Gary Phillips and Will Silverman of Eastdil Secured represented the seller, a partnership between Columbia Property Trust and Cannon Hill Capital Partners, in the transaction. The duo also procured Savanna as the buyer.

Continue Reading
FacebookTwitterLinkedinEmail
1000-Woodbury-Road-Long-Island
AcquisitionsNew YorkNortheastOffice

CBRE Brokers $23.5M Sale of Long Island Office Building

by Taylor Williams

WOODBURY, N.Y. — CBRE has brokered the $23.5 million sale of a 255,019-square-foot office building in Woodbury, a hamlet located on the east side of Nassau County on Long Island.  According to LoopNet Inc., the four-story building at 1000 Woodbury Road was originally constructed in 1984 and renovated in 2007. Jeff Dunne, Steve Bardsley, Travis Langer and Philip Heilpern of CBRE represented the seller, RXR Realty, in the transaction. The team also procured the buyer, TKF Burnside Real Estate. At the time of sale, the building was 61 percent leased, with energy services provider Petro and law firm Milber Makris serving as the anchor tenants.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsNew YorkNortheastOffice

Open Impact Real Estate Arranges 27,147 SF Office Lease in Brooklyn

by Taylor Williams

NEW YORK CITY — Locally based brokerage firm OPEN Impact Real Estate has arranged a 27,147-square-foot office lease in Brooklyn. The tenant, social services provider Rising Ground Inc., will occupy the entire 20th floor and part of the 19th floor at 111 Livingston St. in the Brooklyn Heights neighborhood. Stephen Powers, Lindsay Ornstein, Alexander Smith and Kendall Elliott of OPEN Impact represented the tenant, which plans to take occupancy next spring, in the lease negotiations. The undisclosed landlord was self-represented.

Continue Reading
FacebookTwitterLinkedinEmail
DelawareLeasing ActivityNortheastOffice

PNC Bank Signs 32,530 SF Office Lease Renewal in Wilmington, Delaware

by Taylor Williams

WILMINGTON, DEL. — PNC Bank has signed a 32,530-square-foot office lease in Wilmington. The space is located within the lender’s namesake building in the downtown area. John Kaczowka of CBRE represented the landlord, Douglas Development, in the lease negotiations. Tom Coyne of Fidelity Commercial represented PNC Bank, which occupies the 15th and 18th floors.

Continue Reading
FacebookTwitterLinkedinEmail
Leasing ActivityOfficeTexas

Bradford Negotiates 38,194 SF Office Lease Renewal, Expansion in North Dallas

by Taylor Williams

DALLAS — Bradford Commercial Real Estate Services has negotiated a 38,194-square-foot office lease renewal and expansion in North Dallas. The tenant, Austin-based law firm Walters, Balido & Crain, will now occupy the top two floors at Meadow Park Towers, a 262,776-square-foot property located along the North Central Expressway. Richmond Collinsworth and Jared Laake of Bradford internally represented the landlord in the lease negotiations. Scott Hage and Taylor Messina of JLL represented the tenant.

Continue Reading
FacebookTwitterLinkedinEmail
Leasing ActivityOfficeTexas

Greystar Signs 32,000 SF Office Lease at Cypress Waters in Coppell, Texas

by Taylor Williams

COPPELL, TEXAS — Greystar has signed a 32,000-square-foot office lease in Coppell, located in the northern-central part of the metroplex. The space is located within the 1,000-acre Cypress Waters mixed-use development. Scot Ison of Axis Tenant Advisors represented the South Carolina-based apartment developer and manager, which plans to take occupancy early next year, in the lease negotiations. Billingsley Co. owns Cypress Waters.

Continue Reading
FacebookTwitterLinkedinEmail
395-SW-Bluff-St-Bend-OR
AcquisitionsLoansOfficeOregonWestern

Ethos Commercial Arranges $6.1M Acquisition Loan for Multi-Tenant Office Building in Bend, Oregon

by Amy Works

BEND, ORE. — Ethos Commercial has secured $6.1 million in acquisition financing for Bluff Street Office, a multi-tenant office located at 395 SW Bluff St. in Bend’s Old Mill District. Built in 2003, the 29,000-square-foot building features three suites, storage and surface parking. At the time of financing, the property was fully occupied with long-term leases. Danny Natsch and Matt Illias of Ethos Commercial Advisors sourced the 70 percent loan-to-value, 10-year fixed-rate loan in the mid 5 percent range through a regional credit union for the undisclosed borrower.

Continue Reading
FacebookTwitterLinkedinEmail
Alliance-Plano-Med
HealthcareMarket ReportsOfficeTexasTexas Market Reports

As Return to Office Stalls, Return to Medical Offices Sees a Boost Throughout Texas

by Taylor Williams

By Ben Reinberg, CEO, Alliance Consolidated Group of Cos. In late September, Texas-based software company Dell became one of the latest major companies to announce a full return-to-office (RTO) mandate. In a leaked memo to employees, Bill Scannell, the company president, wrote, “As we enter a new AI world, in-person human interaction will be more important than ever.” Just a few weeks later, Amazon announced a full RTO policy. And over the summer, Meta, the parent company of Facebook, informed employees that remote team members would not be eligible for promotions. These RTO announcements from major organizations have dotted the web for years following the pandemic, leading many investors to hope for a slow-but-steady march back to busy office buildings and revitalized downtowns throughout the Lone Star State. The actual data, however, tells a much different story. Reports on Texas’ commercial real estate markets indicate that nearly a quarter of all office space is vacant nearly four years after the pandemic. According to CommercialEdge, Dallas’ office vacancy rate is 22.9 percent, and Austin’s is 27.8 percent. Workforce trends reflect a similar situation. Austin was named the No. 1 metro for remote workers in 2023 by Coworking Mag, with nearly a …

Continue Reading
FacebookTwitterLinkedinEmail
Leasing ActivityOfficeTexas

Allstate Signs 53,043 SF Office Lease at Cypress Waters in Coppell, Texas

by Taylor Williams

COPPELL, TEXAS — Allstate has signed a 53,043-square-foot office lease in Coppell, located in the northern-central part of the metroplex. The space is located within the 1,000-acre Cypress Waters mixed-use development. Ryan Buchanan of CBRE represented the insurance giant, which plans to take occupancy of its new space next June, in the lease negotiations. Billingsley Co. owns Cypress Waters.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts