REBusinessOnline

Wilshire Skyline, Kings Arch Break Ground for Adaptive Reuse of Office Building in Santa Monica

SANTA MONICA, CALIF. — Wilshire Skyline, in partnership with Kings Arch Inc., has broken ground on the restoration and adaptive reuse of a landmarked building located at 1305 Second St. in Santa Monica. KFA designed the renovation of the three-story building that was built in 1914. The project will provide new spaces for commercial office tenants. Exterior renovations will include adding ground-floor window awnings, providing new landscaping around the property and rehabilitating the …

Cawley Partners to Develop 168,000 SF Spec Office Building in Metro Dallas

COPPELL, TEXAS — Dallas-based Cawley Partners will develop The Braun on Belt Line, a 168,000-square-foot office building that will be located in Coppell, a northern suburb of Dallas. The four-story property, which marks Phase I of a larger office development, is being built on a speculative basis. Amenities will include a conference center, patio lounge and a fitness center. Gensler designed the project, which is slated for a third-quarter 2020

Assurance to Relocate Headquarters to Schaumburg, Illinois

SCHAUMBURG, ILL. — Assurance Agency Ltd. has signed a 75,000-square-foot office lease to relocate its headquarters to Woodfield Preserve Office Center in Schaumburg. Bill Elwood and Rob Graham of CBRE represented the landlord, Zeller Realty Group (ZRG), in the lease transaction. Jesse Van Dyke of JLL represented Assurance, which will relocate to the property in 2019. The independent insurance brokerage firm will occupy a portion of the first floor and the entire sixth floor. ZRG has …

R2 Cos. Purchases 253,022 SF Office Complex in Milwaukee

MILWAUKEE — R2 Cos. has purchased The Tannery, a six-building, 253,022-square-foot office complex on Virginia Street in Milwaukee’s Walker’s Point neighborhood. The purchase price was not disclosed. Ned Purtell and Scott Revolinski of Founders 3 Real Estate Services represented the seller, SARA Investment Real Estate. The property is home to several tenants, including Aurora Healthcare, Great Lakes Distillery and Springfield

New Development, Emerging Submarkets Shift Manhattan’s Office Landscape

Bolstered by New York City’s growing and diversified economy, Manhattan’s office market continued to hum along during the second quarter, if at a slower pace than earlier in 2018. Technology, advertising, media and information (TAMI) companies are looking at in-demand submarkets such as Chelsea and Midtown South, where the bulk of new development is underway. Some financial firms are contemplating a move to the Hudson Yards neighborhood, where more than 9 million square feet of space is …

NKF Capital Markets Arranges $250M Refinancing for Office Portfolio in Manhattan

NEW YORK CITY — NKF Capital Markets has arranged the $250 million refinancing of a two-building office portfolio in Manhattan’s financial district. Located at 80-90 Maiden Lane, the adjacent properties include a combined 610,000 square feet of office space. Both properties have been recently renovated. Dustin Stolly and Jordan Roeschlaub of NFK Capital Markets represented the borrowers — Normandy Real Estate Partners, Meadow Partners and AM Property Holding Corp. — in securing the …

Cardente Real Estate Brokers $1.1M Sale of Office Property in Maine

FALMOUTH, MAINE — Cardente Real Estate has brokered the $1.1 million sale of a 6,085-square-foot office property in Falmouth. Located at 19 Northbrook Drive, the tenant roster includes Goldman Financial Planning, Maine Laser, Edward Jones and Joshua Rent. Matthew Cardente of Cardente Real Estate represented the seller, Mark Richards. The buyer was CPM-19 Northbrook Drive

Unico Properties Acquires 229,600 SF City Centre Office Tower in Salt Lake City

SALT LAKE CITY — Unico Properties, a subsidiary of Unico Investment Group, has purchased City Centre I, a high-rise tower in downtown Salt Lake City, for an undisclosed price. Located in Salt Lake City’s central business district, the 10-story property features 229,600 square feet of Class A office space. Additionally, the acquisition includes an adjoining 1.8-acre surface parking lot. The building is situated on the TRAX light rail line and offers direct freeway access to Interstate 15, …

HFF Negotiates Sale of Three Office Properties Totaling 230,506 SF in Houston

HOUSTON — HFF has negotiated the sale of three office properties totaling 230,506 square feet in Houston. Amerix Capital purchased 2930 West Sam Houston Parkway; Enterprise Holdings bought 10401 CentrePark Drive; and S&B Engineers & Contractors Ltd. acquired 15150 Memorial Drive. The first two properties were built in the early 2000s, are located in Houston’s West Belt submarket and were 94.2 percent and 69.7 percent leased at the time of sale, respectively. The third property was …

California Realty Group Brokers Sale of 45,881 SF Yale-Wilshire Medical Building in Santa Monica, California

SANTA MONICA, CALIF. — California Realty Group has arranged the sale of the Yale-Wilshire Medical Building, a mixed-use property located in Santa Monica. Yale Wilshire LTD sold the property to an affiliate of Golden West Properties for an undisclosed price. The 45,881-square-foot medical office building also features 6,700 square feet ground-floor retail space. Mark Esses of California Realty Group represented the seller in the

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