Wednesday, December 10, 2025
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Office

TwentyFour25-Houston
AcquisitionsOfficeTexas

SLS Properties Buys 284,889 SF Vacant Office Building in Houston

by Taylor Williams

HOUSTON — SLS Properties has purchased TwentyFour25, a 284,889-square-foot vacant office building in Houston’s Galleria district. The 11-story building offers roughly 150,000 rentable square feet across floors two through seven and about 77,000 rentable square feet across floors nine through 11, plus additional space on the first floor. Amenities include a fitness center, conference facilities, tenant lounge and a newly upgraded lobby and other common areas. SLS Properties has also completed numerous upgrades to the building’s systems and plans additional enhancements to the walkway connecting the building to its parking garage. Ownership has tapped Transwestern as the new leasing agent.

Continue Reading
FacebookTwitterLinkedinEmail
Melrose-Professional-Park-Gilbert-AZ
ArizonaDevelopmentHealthcareOfficeWestern

Edward Homes Development Breaks Ground on 120,000 SF Medical Office Park in Gilbert, Arizona

by Amy Works

GILBERT, ARIZ. — Edward Homes Development has broken ground on Melrose Professional Park, a Class A medical and office condominium park on the southeast corner of S. Rome and E. Melrose streets in Gilbert. Tom Weinhold, Sheila Bale and Erika Eckblad of Cushman & Wakefield are handling sales efforts for the project. Upon completion, the 120,000-square-foot asset will feature eight approximately 10,000-square-foot and two 20,000-square-foot medical condominium buildings, offering units ranging from approximately 5,000 square feet to 20,000 square feet. The first delivery is scheduled for April 2026, with phased completion through December 2026. Melrose Professional Park is designed as a single-story, 10-building mixed-use office property. The development will offer designated patient drop-off areas, generator pad accessibility, exterior-loaded buildings and planned building signage. Each unit will be delivered in shell condition with HVAC curbs, allowing for customized build-outs.

Continue Reading
FacebookTwitterLinkedinEmail
Leasing ActivityNorth CarolinaOfficeSoutheast

Drawbridge Realty Signs Aspida to 89,770 SF Office Lease in Durham

by John Nelson

DURHAM, N.C. — Drawbridge Realty has signed Aspida Financial Services to an 89,770-square-foot lease at Imperial Tower, a 264,598-square-foot office building located at 4820 Emperor Blvd. in Durham. Greg Sanchez, Ryan Gaylord and Robin Roseberry Anders of NAI Tri Properties represented Drawbridge Realty in the lease negotiations. Matthew Cooke and Gardner Gibson of Davis Moore represented Aspida, which plans to occupy the top three full floors of the 11-story office building. Imperial Tower was previously fully occupied by an undisclosed tenant through May 2026 before the tenant broke off its lease and enforced a remote work policy during the COVID-19 pandemic. Drawbridge Realty is underway on a $10 million overhaul of the property, including a new wellness room, tenant lounge and game room, waterside patio, café, golf simulator, fitness center with locker room and shower facilities, athletic fields and pickleball and sport courts. The company is also renovating Imperial Tower’s existing lobby and conference center.

Continue Reading
FacebookTwitterLinkedinEmail
Leasing ActivityNew YorkNortheastOffice

CBRE Negotiates 128,749 SF Office Lease Renewal, Expansion in Lower Manhattan

by Taylor Williams

NEW YORK CITY — CBRE has negotiated a 17-year, 128,749-square-foot office lease renewal and expansion at 55 Water Street, a 4 million-square-foot complex in Lower Manhattan. The tenant, financial services provider GFI Group Inc., has renewed its lease for 63,756 square feet across the entire 10th floor and committed to an additional 64,993 square feet across the entire 11th floor. Howard Fiddle, Bradley Gerla, Evan Haskell and William Hooks of CBRE represented the owner, New Water Street Corp., in the lease negotiations. Jared Horowitz and Hal Stein of Newmark represented GFI Group, which has been a tenant at the complex since 2007.

Continue Reading
FacebookTwitterLinkedinEmail
Leasing ActivityNew JerseyNortheastOffice

Sphere Technology Solutions to Open 17,000 SF Office in Newark

by Taylor Williams

NEWARK, N.J. — Data security firm Sphere Technology Solutions will open a 17,000-square-foot office in Newark. The space is located at 3 Gateway, a 500,000-square-foot, newly repositioned building that is one of four within a 2.3 million-square-foot campus known as The Junction. Jamie Ragucci and Hope Brodsky of Newmark represented the tenant in the lease negotiations. Curtis Foster, Jerry Shifrin and Matt Zaplin of Cushman & Wakefield represented the landlord, Rugby Realty.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsArizonaOfficeWestern

Cushman & Wakefield Arranges $10M Sale of Hayden Corporate Center in Scottsdale, Arizona

by Amy Works

SCOTTSDALE, ARIZ. — Cushman & Wakefield has arranged the sale of Hayden Corporate Center, a two-story office building located at 8283 N. Hayden Road in Scottsdale. Hayden Corporate Center LLC sold the asset to Revelation RE, with Bret Anderson as principal, for $10 million. The multi-tenant property consists of two wings adjoined by a two-story central lobby. Hayden Corporate Center features floor plates of 27,500 square feet, narrow bay depths and ample window lines. The new ownership plans to renovate the exterior and interior, as well as upgrading several major building systems.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsMidwestMinnesotaOffice

Pioneer Acquisitions Buys 913,501 SF Office Portfolio in Downtown Minneapolis

by Kristin Harlow

MINNEAPOLIS — Pioneer Acquisitions, a Rye, N.Y.-based real estate investment firm, has purchased two office towers in downtown Minneapolis along with an 870-stall parking ramp. The buildings, 100 Washington and 111 Washington, total 913,501 square feet and are situated in the city’s Gateway District, bridging the central business district and the North Loop. The transaction marks Pioneer’s first investment in the Twin Cities market. Pioneer plans to refresh and modernize existing amenity areas, including the tenant lounge and ground-level terrace at 100 Washington. The firm has engaged Cushman & Wakefield to handle leasing and property management services. The buildings were 80 percent occupied at the time of sale. Ryan Watts of CBRE represented the undisclosed seller.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsCompany NewsHawaiiIndustrialOfficeRetailTop StoriesWestern

Joint Venture to Acquire Alexander & Baldwin in $2.3B Deal, Take Hawaiian Company Private

by John Nelson

HONOLULU — A joint venture formed by locally based MW Group Ltd. and funds affiliated with Blackstone Real Estate (NYSE: BX) and DivcoWest has entered into a definite merger agreement with Alexander & Baldwin Inc. (NYSE: ALEX), a Honolulu-based owner-operator of shopping centers and other commercial real estate properties. The deal is valued at $2.3 billion, inclusive of outstanding debt, and would take Alexander & Baldwin private. The joint venture plans to acquire all outstanding shares of Alexander & Baldwin for $21.20 per share in an all-cash transaction. The company’s stock price closed last week at $15.22 per share, giving the acquisition price a nearly 40 percent premium. Alexander & Baldwin is the largest owner of grocery-anchored shopping centers in Hawaii. The firm’s overall portfolio spans approximately 4 million square feet and includes 21 retail centers, 14 industrial assets and four office properties, as well as fee interests in 146 acres of ground lease assets. Upon closing of the deal, which is scheduled for the first quarter of 2026, Alexander & Baldwin will become a privately held company but will retain its Honolulu headquarters and maintain its name and brand. The new investment group has announced it will invest $100 million …

Continue Reading
FacebookTwitterLinkedinEmail
4411-San-Felipe-Houston
LoansOfficeTexas

JLL Arranges Loan for Refinancing of Office Building in West Houston

by Taylor Williams

HOUSTON — JLL has arranged a loan for the refinancing of a 4411 San Felipe, a 94,825-square-foot office building located in the River Oaks neighborhood of West Houston. Park House Houston, a private social club, anchors the seven-story building, which was built in 2021 and was fully leased at the time of the loan closing. John Ream and Cassie McIntosh of JLL originated the three-year, floating-rate loan, which has an initial financing of $33 million with additional future funding available, through Tannenbaum Capital Group. The borrower was an entity doing business as PH 4411 Houston RE Holdings.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsLee & AssociatesOfficeTexas

Avison Young Brokers Sale of 53,673 SF Office Building in Addison, Texas

by Taylor Williams

ADDISON, TEXAS — Avison Young has brokered the sale of Midway Office Park, a 53,673-square-foot office building located in the northern Dallas metro of Addison. Built on 2.7 acres in 1977 and renovated in 1998, the building was roughly 40 percent leased at the time of sale. Bruce Butler, Susan Gwin Burks and John Bowles of Avison Young represented the seller in the transaction. Taylor Stell of Lee & Associates represented the buyer, Urban Infraconstruction, which also plans to occupy a portion of the building.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts