RICHARDSON, TEXAS — GEICO has signed a 198,000-square-foot office lease at Galatyn Commons, located in the northeastern Dallas suburb of Richardson. The insurance provider, which last spring committed to occupying the entirety of Building B at the four-building, 800,000-square-foot campus, is now taking additional space in Building D. Mapletree, a global investment firm based in Singapore, owns Galatyn Commons. GEICO expects to hire another 1,000 people to staff its three Richardson buildings over the next two years.
ENGLEWOOD, COLO. — Knightsbridge Capital and Westside Investment Partners have acquired 400 Inverness, a Class A office building in Englewood. Terms of the transaction were not released. JLL represented the undisclosed seller in the sale, while Colliers advised the seller on leasing. The buyers received acquisition financing through FirstBank, now part of PNC Bank. Located at 400 Inverness Parkway, 400 Inverness offers 112,198 square feet of office space that was originally built in 1997 and most recently renovated in 2025. At the time of acquisition, the property was 93 percent occupied. The ownership group plans to implement a value-enhancement program focused on building upgrades, as well as pursuing proactive leasing initiatives to strengthen the property’s long-term tenancy and cash flow profile.
PHOENIX — The Meritex Co. has purchased North Mountain Corporate Center, a two-story Class B office building at 10400 N. 25th Ave. in Phoenix, from Macfarlan Capital Partners for $7.2 million. The buyer plans to redevelop the 109,332-square-foot building, which was delivered vacant, into an institutional-quality industrial project. Situated on 7.6 acres, the infill site offers proximity to I-17 and in-place zoning for industrial use. Brian Ackerman, Todd Noel, Kyle Campbell and Matt Baniszewski of Colliers represented the seller. Keri Scott and Alex Kas-Marogi of Newmark will handle leasing for the redeveloped property.
NEW YORK CITY — Thompson Coburn LLP has signed a 46,000-square-foot office lease renewal in Midtown Manhattan. The national law firm will continue to occupy the entire 14th and 15th floors of 488 Madison Avenue, a 447,000-square-foot building, where it has been a tenant since 2002. Andrew Wiener, Tim Parlante and Kyle Young represented the landlord, The Feil Organization, in the lease negotiations on an internal basis. Joe Learner and Jarod Stern of Savills, along with Chris Kraus of JLL, represented Thompson Coburn, which will undertake a full redesign of its spaces as part of the deal.
CHARLOTTE, N.C. — CBRE has arranged nearly $178 million in refinancing for 110 East, a 23-story office tower located in Charlotte’s South End district. J.P. Cordeiro, Mike Ryan, Richard Henry and Blake Cohen of CBRE arranged the loan through AllianceBernstein on behalf of the ownership group, Shorenstein and Stiles. Delivered in 2024, the 389,954-square-foot office property has direct access to the LYNX Blue Line’s East/West light rail station and features an 11th floor sky lobby, outdoor terrace and a fitness center. 110 East is currently 92.6 percent leased to various tenants such as Coinbase and First Horizon Corp.
SPRING, TEXAS — Marcus & Millichap has brokered the sale of Cypresswood Crossing, a 107,185-square-foot retail and office complex in the northern Houston suburb of Spring. Cypresswood Crossing consists of two buildings on a 5.6-acre site: a 90,818-square-foot multi-tenant building with both retail and office space and a 16,367-square-foot retail center. Chris Gainey and Philip Levy of Marcus & Millichap represented the seller, a Dallas-based private investment firm, in the transaction. Levy and Scott Abeel procured the buyer, a Houston-based private equity firm. Both parties requested anonymity.
SAN DIEGO — Golden Columbia, a real estate investment platform sponsored by locally based GANMI Corp., has completed the acquisition of two Class A office properties in downtown San Diego. Together, the buildings total 707,623 square feet. The sales price was not disclosed, but The San Diego Union-Tribune reports the properties traded for $103.5 million. The newspaper also reports that the seller, Regent Properties, purchased the two buildings for a combined $223.5 million in June 2021. The properties include One Columbia Place, a 27-story office tower located at 401 W. A St., and Two Columbia Place, a 12-story office building located at 1230 Columbia St. One Columbia Place comprises 556,943 square feet, and Two Columbia Place spans 150,680 square feet. According to a statement issued by GANMI Corp., long-term plans for One and Two Columbia Place include repositioning the properties into an “experience-driven workplace destination designed to support tenants, employees and the broader downtown ecosystem.” Enhancements at the buildings will be implemented in phases. “People don’t come back to the office for desks alone — they come back for energy, community and convenience,” says Casey Gan, CFO of GANMI Corp. “Our mission at Columbia Place is to build a complete workplace experience by …
NEW YORK CITY — Bushburg has received $78 million in financing for an office-to-residential conversion project in Manhattan. The locally based development and investment firm will use the proceeds to acquire the 21-story building at 100 William St. in the Financial District and fund predevelopment costs. Bushburg plans to convert the building into an approximately 400-unit complex in which 25 percent of the units will be reserved as affordable housing. Bridge lender Oak Funding and OakNorth Bank co-provided the financing. A tentative completion date was not disclosed.
COSTA MESA, CALIF. — Newmark has brokered the sale of 1901 Newport Boulevard, a three-story office property in Costa Mesa. A private, high-net-worth investor acquired the asset from an undisclosed seller for $24.4 million. Paul Jones, Ryan Plummer, Brandon White, Kevin Shannon and Ken White of Newmark represented the seller in the deal. Originally developed in 1985 and renovated in 2001, the 134,387-square-foot asset features a three-style atrium, custom marble flooring, open-air courtyards and seven fountains. Situated on 4 acres, the building is currently 85 percent occupied by a variety of tenants, including medical offices, traditional office users and retail.
CHICAGO — Carr Workplaces, a provider of flexible office solutions, has opened Carr Workplaces – The Loop at 20 North Clark Street in downtown Chicago. Located within walking distance of City Hall, government administration buildings, courthouses and public transportation, the workspace offers private offices, dedicated workstations, four meeting rooms, phone rooms and rentable lockers. Members also enjoy access to in-building amenities such as a fitness center, conference center, lounge and 24/7 building security.
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