REBusinessOnline

Professional Wealth Advisors Signs 23,000 SF Office Lease Renewal, Expansion in Suburban Chicago

DOWNERS GROVE, ILL. — Professional Wealth Advisors (PWA) has signed a 23,000-square-foot office lease renewal and expansion at 2655 Warrenville Road in Downers Grove. The lease comprises a 12,000-square-foot renewal and an 11,000-square-foot expansion. Transwestern Investment owns and manages the building. PWA was founded in 2015 and recently merged with HighPoint Planning Partners. Joel Berger of Bradford Allen represented PWA in the lease

Barker Pacific Acquires 270,659 SF Bank of America Office Tower in Downtown Las Vegas

LAS VEGAS — Barker Pacific Group, in a joint venture with Positive investment Group, has purchased Bank of America Tower, an office complex located at 300 S. 4th St. in Las Vegas. The acquisition marks Barker Pacific’s entry into the Las Vegas market.The joint venture will rebrand the 270,659-square-foot building as Tower 300 and implement an upgrade program to the common areas.Terms of the acquisition were not released. Alliance Bank provided debt financing for the buyers. Mike …

CBRE Negotiates $37M Sale of Two Office Buildings in Yonkers, New York

YONKERS, N.Y. — CBRE has negotiated the $37 million sale of 3 Executive Boulevard and 3 Odell Plaza, two office buildings totaling 130,607 square feet in Yonkers, located north of New York City. Both assets are leased on a long-term basis to a single tenant, Montefiore Health System. Jeffrey Dunne, Steven Bardsley, David Gavin, Jeremy Neuer, Gene Pride and Stuart MacKenzie represented the seller, an entity managed by Robert Martin Co., in the transaction. The team also procured the buyer, a …

Vantage Bank Texas Signs 15,000 SF Office Lease at Triune Centre in Fort Worth

FORT WORTH, TEXAS — Vantage Bank Texas has signed a 15,000-square-foot office lease to be the anchor tenant at Triune Centre, a 30,000-square-foot office development at 3400 West Freeway in Fort Worth. Cullen Donohue, Seth Koschak, Chris Doggett and Vic Meyer of Stream Realty Partners represented the landlord, a partnership between Cornerstone Projects Group and Trident Structures, in the lease negotiations. Theron Bryant of Transwestern represented Vantage Bank Texas. Construction of the …

Meridian Capital Arranges $107.7M Loan for Refinancing of 55 Broadway Office Building

NEW YORK CITY — Meridian Capital has arranged a $107.7 million senior loan for the refinancing of 55 Broadway, a 32-story office building in Manhattan’s Financial District. The 356,059-square-foot building was 89 percent leased at the time of the loan closing to tenants such as The Kingdom of Morocco, Bank of Communications, Syscom and Assurant Inc. As part of the recapitalization, the borrower, Harbor Group International, also received a future funding component of up to $8.4 million for …

Moderna to Expand Biomanufacturing Campus in Norwood, Massachusetts, by 350,000 SF

NORWOOD, MASS. — Moderna Inc. will expand its Moderna Technology Center biomanufacturing campus in Norwood, a southern suburb of Boston, by about 350,000 square feet. The biotechnology and pharmaceutical giant plans to renovate and expand its existing production and lab space and has acquired a 240,000-square-foot building on the same campus, ultimately yielding a 50 percent expansion and a total footprint of 650,000 square feet. The expansion will support Moderna’s efforts to ramp up …

Phibro Animal Health Signs 49,577 SF Office Lease Renewal in Teaneck, New Jersey

TEANECK, N.J. — Phibro Animal Health Corp. has signed a 49,577-square-foot office lease renewal at Glenpointe, a mixed-use development in the Northern New Jersey community of Teaneck that serves as the company’s global headquarters. Susan Mason and Tom Reilly of JLL represented the tenant in the lease negotiations. David Simson, Jeff Schotz, Peter Rossi, Dan Reider and Peter Kasparian of Newmark represented the landlord, Alfred Sanzari Enterprises. In addition to office uses, the Glenpointe …

Bain Capital, BARDAS Plan $450M Echelon Studios in Hollywood

LOS ANGELES — Bain Capital Real Estate, the real estate investing business of Bain Capital, and BARDAS Investment Group, a boutique real estate development and investment firm, have submitted plans to the City of Los Angeles for the development of Echelon Studios. The five-acre site is located at 5601 Santa Monica Blvd. in Los Angeles’ Hollywood neighborhood.The $450 million urban studio campus will feature four 19,000-square-foot sound stages, a 15,000-square-foot flex stage and a …

BH Properties Buys 128,266 SF Freeway Corporate Park in Santa Ana, California

SANTA ANA, CALIF. — BH Properties has purchased Freeway Corporate Park, a multi-tenant office complex located within Orange County Greater Airport Area/Irvine Business Park in Santa Ana. Terms of the transaction were not released.Totaling 128,266 square feet, the two-building property is located at 2501 Pullman St. and 1700 E. Carnegie Ave. At the time of sale, the property was 56 percent leased to two tenants – Iteris and Orange County Head Start Inc. The two buildings are connected by …

Phase 3 Real Estate, Bain Capital Receive $400M Construction Loan for Life Sciences Campus in Brisbane, California

BRISBANE, CALIF. — Phase 3 Real Estate Partners and Bain Capital Real Estate have received a more than $400 million construction loan for Genesis Marina, a waterfront life sciences campus in Brisbane.Located on 8.7 acres within South San Francisco’s life sciences cluster, Genesis Marina will offer 570,000 square feet of Class A life sciences space.Tim Wright, Todd Sugimoto and Daniel Pinkus of JLL Capital Market arranged the financing through Barings LLC for the

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