REBusinessOnline

Diversified Healthcare Trust Completes $26M Renovation of Medical Office Building in D.C.

WASHINGTON, D.C. — Diversified Healthcare Trust has completed a $26 million renovation of 1145 19th St. NW in Washington, D.C., a 133,000-square-foot medical office building. The renovations include a new glass façade, lobby lounge, fitness center, business center and an upgraded HVAC system. The property is situated less than one mile from downtown D.C. The RMR Group managed the renovations, Davis Construction was the general contractor and SmithGroup Architecture was the designer. Nick …

Berkeley Insurance Signs 63,173 SF Office Lease at Metro Center in Stamford, Connecticut

STAMFORD, CONN — Berkeley Insurance Co., a subsidiary of Fortune 500 company W.R. Berkeley Corp., has signed a 63,173-square-foot office lease at Metro Center, a 285,258-square-foot building in Stamford. James Ritman of Newmark Knight Frank, along with internal representative Jeffrey Newman, handled the lease negotiations on behalf of the landlord, Empire State Realty Trust (NYCE: ESRT). Belinda Scanlon of Bernard Realty represented the

Presidio Bay Ventures Takes Overs Construction of Mixed-Use Development in Menlo Park, California

MENLO PARK, CALIF. — San Francisco-based Presidio Bay Ventures has taken over construction, lease-up and stabilization of the 6.4-acre mixed-use development, located at 1300-1302 El Camino Real and 550 Oak Grove Ave. in Menlo Park. The strategic operation of the project, renamed Springline, was transitioned to Presidio Bay mid-construction in June. Since then, the firm’s development team has overhauled nearly all aspects of the project.Situated in Menlo Park’s pedestrian-oriented …

Carlsen Investments Divests of 63,206 SF Office Building in Gold River, California

GOLD RIVER, CALIF. — Carlsen Investments has completed the disposition of Gold Pointe Corporate Center Building E, an office property located at 11919 Foundation Place in Gold River. Davies Torrance Trust acquired the property for $14.3 million.eHealth Inc. occupies the 63,206-square-foot property, which Panattoni Development Co. built in 2003.  Building E is part of the larger Gold Pointe Corporate Center, which totals five buildings and 455,000 square feet. Campus amenities include a …

West Michigan’s Jaqua Realtors Merges with Shoreline Realtors

DOUGLAS, MICH. — Jaqua Realtors has merged with Shoreline Realtors and continues the expansion of its presence in West Michigan. Shoreline has served the Saugatuck and Douglas communities for the past 26 years as a real estate and vacation rental company and maintains offices in St. Joseph and South Haven. Jaqua, a 45-year-old brokerage focusing on residential and commercial real estate as well as vacation rentals and property management, occupies an office at 202 Center St. in

Onyx Equities Acquires Office Portfolio in New Jersey from Mack-Cali for $160M

NEWARK, N.J. — A partnership led by New Jersey-based investment firm Onyx Equities has acquired a 10-building, 1.5 million-square-foot office portfolio in Morris County, New Jersey, from Mack-Cali Corp. The portfolio consists of nine buildings in Parsippany and one in Madison. Onyx Equities, which acquired the portfolio in partnership with Taconic Capital Advisors LP, Axonic Capital LLC and Machine Investment Group, will implement a capital improvement plan. JLL brokered the

Nerd Street Gamers to Open Esports Campus in Philadelphia

PHILADELPHIA — Nerd Street Gamers, a provider of infrastructure services for the esports industry, will open The Block, an esports campus at 401 N. Broad St. in Philadelphia. Christian Dyer and Jackie Balin of CBRE represented data center owner-operator Netrality, which owns the 1.3 million-square-foot building, in the lease negotiations. The space will not only function as Nerd Street Gamers’ new corporate headquarters, but it will also include global broadcast studios, dedicated training …

Deluxe Corp. Leases 94,000 SF of Office Space in Minneapolis

MINNEAPOLIS — Deluxe Corp. has leased 71,000 square feet of office space at 801 Marquette Ave. and 23,000 square feet at 121 S. Eighth St. in Minneapolis. Franklin Street Properties Corp. owns both office buildings, which now boast occupancy rates of approximately 92 percent. Deluxe, a financial tech firm, also leased 172,000 square feet of office space in Atlanta this …

REI Sells Corporate Campus Near Seattle to Facebook for $390M

BELLEVUE, WASH. — The specialty outdoor retailer REI Co-op has completed the disposition of its newly completed corporate campus in Bellevue’s Spring District. Facebook acquired the property for $390 million. Site developer Wright Runstad & Co. and Shorenstein Properties also purchased an undeveloped two-acre portion of the property.Facebook’s acquisition includes the 400,000-square-foot campus and approximately six acres of land.In August, REI announced its intention to sell …

KDC, JBP Properties to Develop 16-Acre Phase III of Parkside on Legacy in Plano

PLANO, TEXAS — Locally based developer KDC has partnered with JBP Properties to develop Phase III of Parkside on Legacy in Plano. The third phase will deliver office options ranging in size from 200,000 to 500,000 square feet on a 16-acre site that is located within Legacy Business Park. Myers Commercial will market the buildings for lease. A construction timeline was not

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