Office

Colliers Arranges 69,408 SF Office Lease in Downtown Baltimore

by John Nelson February 24, 2026

BALTIMORE — Colliers has arranged a 69,408-square-foot office lease at 36 S. Charles St. in downtown Baltimore. Nathan Crowe and Katie Datin of Colliers represented the landlord, Zamir Equities, in the lease transaction. Nick Loiselle of CBRE represented the tenant, the State of Maryland. The state will utilize the space for its Supplemental Retirement Program, the Office of the People’s Counsel and the Public Service Commission. Other State of Maryland agencies that already occupy the property include the Office of Public Defender, the Department of Aging and the Department of Disabilities. The office building features an onsite fitness center, conference center, tenant lounge and 24/7 security.

February 24, 2026

Acquisitions New Jersey Northeast Office

Colliers Brokers Sale of 107,000 SF Vacant Office Building in Parsippany, New Jersey

by Taylor Williams February 24, 2026

PARSIPPANY, N.J. — Colliers has brokered the sale of a 107,000-square-foot vacant office building in the Northern New Jersey community of Parsippany. According to LoopNet Inc., the four-story building at 45 Waterview Blvd. was originally constructed in 1997. The building was previously fully leased to DSM Nutritional Products. Jacklene Chesler, Patrick Norris, Samuel Horowitz and Brittany Leventoff of Colliers represented the seller and procured the buyer and end user, both of which requested anonymity, in the transaction.

February 24, 2026

California Development Loans Multifamily Office Western

Thorofare Capital Provides $22M in Financing for Office-to-Residential Conversion in Los Angeles

by Amy Works February 24, 2026

LOS ANGELES — Thorofare Capital has funded a $22 million floating-rate senior mortgage loan for an office-to-residential conversion project in Los Angeles. The undisclosed borrower plans to convert a six-story, 259,484-square-foot building along Wilshire Boulevard into a 265-unit multifamily property offering 451 onsite parking spaces.

February 24, 2026

Illinois Leasing Activity Midwest Office

Law Firm Bartlit Beck Signs 80,000 SF Office Lease Expansion in Chicago’s River North

by Kristin Harlow February 24, 2026

CHICAGO — Chicago-based investment and development firm Friedman Properties has completed an 80,000-square-foot office lease renewal and expansion with Bartlit Beck LLP at Court House Place in Chicago’s River North neighborhood. The lease increased the law firm’s footprint by more than 20 percent. Headquartered at Court House Place since 1993, Bartlit Beck is a national law firm with expertise in high-stakes commercial litigation, intellectual property, antitrust and unfair trade practices, breach of contract, shareholder disputes and product liability. Renovations will begin soon on the additional 15,000 square feet. Designed by architect Otto Matz and constructed in 1893, the Romanesque-style Court House Place formerly served as the Cook County criminal court. After acquiring the seven-story, 107,000-square-foot property in 1985, Friedman Properties executed a full redevelopment, transforming the building into modern office space. A renovation in 2018 added a rooftop deck. The property is listed in the National Register of Historic Places and has been designated a Chicago landmark.

February 24, 2026

Development Leasing Activity Midwest Office Wisconsin

Hendricks Commercial Properties Begins Development of 11,223 SF Coworking Space Near Milwaukee

by Kristin Harlow February 24, 2026

DELAFIELD, WIS. — Hendricks Commercial Properties (HCP) has begun development of Irontek, a new flexible workspace in Delafield, about 27 miles west of Milwaukee. Located at The Grain (West Building), Irontek will encompass 11,223 square feet and is scheduled to open this summer. Irontek’s Delafield location will include 37 private offices, 24 dedicated desks and open workspace options. Members will have access to a variety of meeting and collaboration spaces, including one 18-person conference room, three drop-in huddle rooms accommodating four to eight people and three private phone booths for calls and virtual meetings. Irontek offers flexible lease terms. High-speed Wi-Fi, utilities, furnishings, maintenance and shared amenities are all included. The project marks HCP’s second Irontek location, joining the one in Beloit, Wis., that opened in 2016. The project team includes Corporate Contractors Inc., Galbraith Carnahan Architects, Harwood Engineering Consultants and Henricksen as interior partner. All are based in Wisconsin. The Grain is a mixed-use destination developed by HCP in 2023.

February 24, 2026

Acquisitions Arizona Office Western

LevRose CRE Negotiates $9.7M Sale of Ventura Gateway Office Building in Scottsdale, Arizona

by Amy Works February 23, 2026

SCOTTSDALE, ARIZ. — LevRose Commercial Real Estate has directed the sale of Ventura Gateway, a multi-tenant office building in Scottsdale. The property traded for $9.7 million, or $185 per square foot. Situated on 3.3 acres at 8687 E. Via de Ventura, the property offers 52,583 square feet of office space. Jason Reddington and Keri Davies of LevRose represented the undisclosed buyer and undisclosed seller in the deal.

February 23, 2026

Acquisitions Arizona Office Western

Legacy Property Management Divests of 50,000 SF Office Space in Tucson for $8.5M

by Amy Works February 23, 2026

TUCSON, ARIZ. — Legacy Property Management has completed the sale of a 50,000-square-foot office space at 155 N. Rosemont Blvd. in Tucson. The Special Fund of the Industrial Commission of Arizona acquired the space for $8.5 million. Richard Kleiner and Alexis Corona of Cushman & Wakefield | PICOR represented the seller, while Christopher Corney of Jones Lang LaSalle Americas represented the buyer in the deal.

February 23, 2026

Acquisitions North Carolina Office Southeast

Avison Young Brokers $16M Sale of Midtown North Office Park in Raleigh

by John Nelson February 23, 2026

RALEIGH, N.C. — Avison Young has brokered the sale of Midtown North, an 81,901-square-foot office park located at 5910-6040 Six Forks Road in Raleigh. Stephens Enterprises LLC purchased the five-building property for $16 million. Bill Aucoin and Gary Lyons of Avison Young represented the seller, Frank Csapo with Commonwealth Partners LLC. In 2015, Aucoin represented Commonwealth Partners in its acquisition of the park, which at the time was known as Twin Forks Office Park. Situated on 8.8 acres, Midtown North was 79 percent leased at the time of sale to a mix of tenants including several healthcare users.

February 23, 2026

Market Reports North Carolina Office Southeast Southeast Market Reports

Has the Raleigh-Durham Office Market Hit Rock Bottom?

by John Nelson February 23, 2026

The Raleigh/Durham office market is not yet in full recovery mode; however, the latest data suggests something just as important: stabilization. Compared to many U.S. office markets still experiencing significant stress, Raleigh-Durham is holding its ground — and in several respects, outperforming national trends. Currently, the combined Raleigh-Durham office market totals approximately 118.7 million square feet, with Raleigh making up roughly two-thirds of the inventory and Durham the remainder. Together, they form one of the Southeast’s most dynamic and resilient office regions. Vacancy elevated, improving While higher than pre-pandemic norms, vacancy is trending better than many peer markets. Raleigh’s vacancy rate currently sits around 11.1 percent, while Durham’s vacancy rate is approximately 9.8 percent, according to research from CoStar Group. Combined, this market boasts a blended office vacancy rate of roughly 10.7 percent, well below the 14.1 percent national average. Over the past 12 months, Raleigh recorded positive net absorption of approximately 574,000 square feet, while Durham experienced negative absorption of about 480,000 square feet. Combined, the market landed near equilibrium, which sends an encouraging signal that the market is no longer sliding backward, even if growth remains uneven. The area’s post-pandemic growth is shaped by hybrid work models, changing …

February 23, 2026

Acquisitions Office Southeast Virginia

Newmark Facilitates $44.5M Sale of Three-Building Office Portfolio in Richmond

by Abby Cox February 20, 2026

RICHMOND, VA. — Newmark has facilitated the $44.5 million sale of a three-building office portfolio located in Richmond. Will Bradley and Mark Williford of Newmark represented the seller, Minneapolis-based Onward Investors, in the transaction. Onward Investors originally purchased the complex about 18 months prior for $31 million, as reported by Richmond BizSense. The buyer was not disclosed. Situated at 5600-5640 Cox Road, the portfolio totals 300,364 square feet. The office buildings were fully leased at the time of sale to tenants including data center operator Black Knight, the Commonwealth of Virginia’s Department of Social Services and local water treatment firm ChemTreat.

February 20, 2026

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