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Galatyn-Commons-Richardson
Leasing ActivityOfficeTexas

GEICO Signs 165,000 SF Office Lease at Galatyn Commons in Richardson, Texas

by Taylor Williams

RICHARDSON, TEXAS — GEICO has signed a 165,000-square-foot office lease in the northeastern Dallas suburb of Richardson. The insurance provider for government workers will occupy the entirety of Building B at Galatyn Commons, a four-building, 800,000-square-foot campus. Anya Ostry, Doug Carignan, Travis Boyd and Christy Rhea of CBRE represented GEICO in the lease negotiations. Chris Taylor and Zach Bean of Cushman & Wakefield represented the landlord, Mapletree, a global investment firm based in Singapore, which just completed a renovation of the campus.

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Leasing ActivityOfficeTexas

Holt Lunsford Negotiates 51,000 SF Office Lease Renewal in Carrollton, Texas

by Taylor Williams

CARROLLTON, TEXAS — Holt Lunsford Commercial has negotiated a 51,000-square-foot office lease renewal in the northern Dallas metro of Carrollton. The tenant is Kristopher James Co., which provides printing, mailing and consulting services to the finance industry, and the building is located at 1406 Dunn Drive. Hudson Sheets and Adam Curran of Holt Lunsford represented the tenant in the lease negotiations. Andrew Gilbert and Keaton Brice, also with Holt Lunsford, represented the undisclosed landlord.

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Leasing ActivityNew YorkNortheastOffice

Coalition Space Opens 15,736 SF Flexible Workspace in Midtown Manhattan

by Taylor Williams

NEW YORK CITY — Coalition Space has opened a 15,736-square-foot flexible workspace at 485 Madison Avenue in Midtown Manhattan. The lease term is 10 years, and the space is known as Coalition Space Grand Central. Bert Rosenblatt and Alex Gerome of Cresa represented Coalition Space in the lease negotiations. Adam Rappaport and Brett Greenberg internally represented the landlord, Jack Resnick & Sons.

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Leasing ActivityNew YorkNortheastOffice

POSH Group Signs 11,436 SF Office Lease Expansion in Manhattan’s SoHo District

by Taylor Williams

NEW YORK CITY — Posh Group Inc. has signed a 11,436-square-foot office lease expansion in Manhattan’s SoHo district. The event manager and brand promoter has effectively doubled its footprint to 22,637 square feet across two full floors at 40 Crosby, a five-story building. KPG Funds owns 40 Crosby, which offers 34,229 square feet of office space and 18,000 square feet of retail space on the ground floor.

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DevelopmentHealthcareNew YorkNortheastOffice

Atkins Cos., Denholtz Complete Phase I of Renovation of 490,000 SF Office, Healthcare Facility in Chappaqua, New York

by Taylor Williams

CHAPPAQUA, N.Y. — A partnership between two New Jersey-based firms, Atkins Cos. and Denholtz, has completed Phase I of the renovation of Medical Offices at Chappaqua Crossing, a 490,000-square-foot office and healthcare complex located about 30 miles north of Manhattan. Northwell Health’s Northern Westchester Hospital anchors the 59-acre facility, which is located within a larger mixed-use development that formerly housed the headquarters of Reader’s Digest and is known as Chappaqua Crossing. The renovation upgraded the property’s common areas with new LED lighting, ceilings, flooring, lobby furniture, paint/wallpaper and moss wall coverings. In addition, a $6 million upgrade of HVAC systems is currently underway. The partnership acquired the property in April 2023 for $40 million.

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AcquisitionsMidwestMinnesotaOffice

Transwestern Brokers Sale of 58,645 SF Office Showroom in Eagan, Minnesota

by Kristin Harlow

EAGAN, MINN. — Transwestern Real Estate Services has brokered the sale of a 58,645-square-foot office showroom located at 3020 Denmark Ave. in the Minneapolis suburb of Eagan for an undisclosed price. Transwestern’s Mike Honsa and John Thompson represented the seller, Blue Water III LLC. The buyer, the Plumbers and Gasfitters Local 34 union, is consolidating its operations and moving both its corporate office and training center to the property. The union was previously based at 353 7th St. in St. Paul. The property was previously occupied by CHS, which had been in the building since its completion in 1998. Blue Water III LLC’s decision to sell came when the building became vacant for the first time. Jordan Dick, Todd Hanson and Jason Sell of Cushman & Wakefield represented the buyer.

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Leasing ActivityNew JerseyNortheastOffice

Casio America Signs 21,338 SF Office Lease in Rockaway, New Jersey

by Taylor Williams

ROCKAWAY, N.J. — Casio America has signed a 21,338-square-foot office lease in the Northern New Jersey community of Rockaway. The U.S. subsidiary of the Japanese electronics manufacturer is taking space on the third floor of The Mark, a seven-story, 237,087-square-foot building that was recently renovated. Chris Conklin, Dan Spero and Maria Rubert of JLL represented the landlord, Northbridge Capital, in the lease negotiations. Naoki Yamaguchi of Relo Redac Inc. represented the tenant.

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IllinoisMarket ReportsMidwestMidwest Market ReportsOffice

Chicago Office Market: the Trophy Spillover Effect

by Kristin Harlow

By Steven Bauer, Colliers The office towers that define Chicago’s landscape have unique histories and personalities, but not all are created equal in the eyes of the tenant. Buildings seeing the highest demand, classified even higher than Class A, are “trophy buildings” — buildings with high-quality finishes, newer and more efficient construction, and are often amenity rich with exclusive lounges, rooftop decks, fitness centers and private bars.  It’s especially important in today’s market to distinguish between the two distinct building categories because while Chicago’s real estate market is a vibrant and complex one, there is more to the story than what you see in the headlines. While the overall vacancy rate in the Loop remains at a historic high above 25 percent, trophy space vacancy is under 10 percent, and demand continues to be robust.  The story of flight to quality and flight to trophy assets has been told repeatedly since the COVID pandemic — complete with statistics that back the trend up. In the fourth quarter of 2024 alone, owners of trophy class buildings finalized anchor tenant renewals with Mayer Brown and PwC, both of whom kept roughly the same square footage as they had previously leased. With the …

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IndustrialLeasing ActivityOfficeTexas

Quantic Wenzel Opens 45,000 SF Headquarters Facility in North Austin

by Taylor Williams

AUSTIN, TEXAS — Quantic Wenzel has opened its new 45,000-square-foot headquarters facility in Austin. The electronics manufacturer relocated from a site about a quarter-mile away to 1835A Kramer Lane on the city’s north side. The new facility features a cleanroom, expanded engineering labs and optimized manufacturing areas to enhance production. Bo Beacham, John Barksdale, Mark Emerick and Kyle Lewis of CBRE represented Quantic Wenzel in its site selection and lease negotiations.

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Leasing ActivityNew YorkNortheastOffice

Geller & Co. Signs 45,290 SF Office Lease at 99 Park Avenue in Midtown Manhattan

by Taylor Williams

NEW YORK CITY — Geller & Co. has signed a 45,290-square-foot office lease at 99 Park Avenue in Midtown Manhattan. The financial services and advisory firm will relocate from 909 Third Avenue to the entire 10th floor and a portion of the ninth floor at the 26-story building. Bryan Boisi of Cushman & Wakefield and Stuart Romanoff of Romanoff Realty Services represented the tenant in the lease negotiations. Paul Glickman, Diana Biasotti, Kristen Morgan and Harrison Potter from JLL, along with internal agents Craig Panzirer and Alex Radmin, represented the landlord, Global Holdings.

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