FoxRock Properties Acquires Office Building in Downtown Boston for $43.5M

BOSTON — Commercial investment firm FoxRock Properties has acquired a 76,698-square-foot, Class A office building located at 176 Federal St. in downtown Boston for $43.5 million. According to LoopNet Inc., the eight-story building was originally constructed in 1901 and renovated in 1986. At the time of sale, the property was 80 percent leased, with law firm Rich May and financial advisory group Capstone Partners being the largest tenants at roughly 20,000 and 11,000 square feet, respectively. …

October 22, 2021Acquisitions, Massachusetts, Northeast, Office

Howard Hughes Corp. Receives $250M in Financing for Metro Houston Office Building

THE WOODLANDS, TEXAS — The Howard Hughes Corp. (NYSE: HHC) has received $250 million in new financing for 1201 Lake Robbins, an approximately 806,000-square-foot Class A office tower in The Woodlands, about 30 miles north of Houston.The building, which at the time of the loan closing was fully leased to Occidental Petroleum (NYSE: OXY) through the end of 2032, represents half of The Woodlands Towers at the Waterway development. An undisclosed lender provided the nonrecourse, 10-year loan, …

October 21, 2021Loans, Office, Texas

Group RMC Acquires 491,092 SF Office Building in Houston’s Galleria District

HOUSTON — Group RMC, a New York City-based investment firm focused on the office sector, has acquired a 491,092-square-foot building located at 5718 Westheimer Road in Houston’s Galleria District. The 22-story building was renovated in 2017 and offers a fitness center and a full-service café. Kevin McConn and Rick Goings of JLL represented the undisclosed seller in the transaction. John Ream, also with JLL, arranged an undisclosed amount of floating-rate acquisition financing through Sound …

October 21, 2021Acquisitions, Office, Texas

Energy Consulting Firm Signs 62,535 SF Office Lease Renewal, Expansion in Downtown Houston

HOUSTON — Global energy consulting firm Opportune has signed a 62,535-square-foot office lease renewal and expansion at Pennzoil Place, a 1.4 million-square-foot office complex located at 711 Louisiana St. in downtown Houston. The firm will now occupy floors 31 through 34 at Pennzoil Place, which also houses a Starbucks Coffee and a Chick-fil-A. Tyler Garrett and Eric Anderson of Transwestern represented the landlord, Metropolis Investment Holdings Inc., in the lease negotiations. Lucian …

October 21, 2021Leasing Activity, Office, Texas

BowX Acquisition Corp. Completes Purchase of WeWork, Will Launch IPO on Oct. 21

MENLO PARK, CALIF. AND NEW YORK CITY — BowX Acquisition Corp. (NASDAQ: BOWX), a special purpose acquisition company (SPAC) has completed its purchase of WeWork and will take the company public with an initial public offering (IPO) on Thursday, Oct. 21. Silicon Valley-based BowX originally announced its plan to acquire WeWork, which will trade on the New York Stock Exchange under the ticker symbol “WE” in March of this year in a deal that was then valued at $9 billion."With a strong …

October 21, 2021Company News, New York, Northeast, Office

Parkview Financial Provides $8.7M Construction Loan for Five-Story Office Building in Denver

DENVER — Parkview Financial has provided an $8.7 million construction loan to 2926 Umatilla LLC, an entity of Generation Development, for the development of a speculative office building in Denver.Located at 2926 Umatilla St. within the LoHi submarket, the planned five-story property is situated on an infill lot formerly used for parking. The 32,734-square-foot building will feature underground parking for 30 cars via a stacked mechanical parking system.Generation Development acquired …

October 21, 2021Colorado, Development, Loans, Office, Western

Millennium Management Signs 74,000 SF Office Lease at 1111 Brickell in Miami

MIAMI — Millennium Management has signed a long-term lease for more than 74,000 square feet across three floors at 1111 Brickell, a 30-story office tower located in Miami’s Brickell submarket. CBRE represented the landlords, KKR and Parkway Property Investments LLC, in the lease transaction. Zach Wendelin and Tom Haughton of CBRE represented the tenant.The office building is a 524,000-square-foot waterfront office tower overlooking Biscayne Bay. Built in 2000, 1111 Brickell is part of a …

October 20, 2021Florida, Leasing Activity, Office, Southeast

Partners Capital Sells 145,915 SF Flex Property in Houston

HOUSTON — Partners Capital, the investment platform of Partners Real Estate Co., has sold Point West Business Park, a 145,915-square-foot flex property in Houston. Partners Capital originally acquired the three-building complex in 2019 and completed more than 25,000 square feet of new leases during its holding period. Cary Latham, Wyatt Huff and Josh Lass-Sughrue of NAI Partners represented the seller in the transaction. Fort Worth-based PHP Capital Partners purchased the asset for an …

October 20, 2021Acquisitions, Industrial, Office, Texas

Arden Group Acquires 145,646 SF Solutionreach Office Building in Metro Salt Lake City

LEHI, UTAH — Arden Group, in partnership with Vesta Realty Partners, has purchased Solutionreach, a five-story, Class AAA office property in Lehi.Located at 2600 Ashton Blvd., the 145,646-square-foot building serves as the headquarters for Solutionreach, a private equity-backed healthcare technology consulting company. The property was developed in 2016 as a build-to-suit corporate campus for the current tenant.Cushman & Wakefield represented the sellers, Gardner Co. and Boyer …

October 19, 2021Acquisitions, Office, Utah, Western

Arbah Capital, Hampshire Stateside Purchase 226,548 SF Office Building in Orlando

ORLANDO, FLA. — Arbah Capital, in partnership with Hampshire Stateside, has purchased a 226,548-square-foot office building in Orlando. Mike Davis, Rick Brugge, Zach Eicholtz and Rick Colon of Cushman & Wakefield arranged the sale on behalf of the buyer. CBRE represented the seller, Real Capital Solutions, in the transaction. The sales price was not disclosed.Jason Hochman and Ron Granite of Cushman & Wakefield secured $35.1 million in acquisition financing through a regional …

October 19, 2021Acquisitions, Florida, Office, Southeast