CONSHOHOCKEN, PA. — Morgan Properties has debuted its new, 70,100-square-foot office headquarters space at its Millennium Complex in Conshohocken, a northern suburb of Philadelphia. The locally based multifamily developer relocated its headquarters from its Kingswood Apartments & Townhomes development in nearby King of Prussia. The new space can support about 200 people and features tech-enabled meeting rooms and training facilities, a dining area, recreational activities, fitness center, a 9,500-square-foot event space and direct walking access to the Schuylkill River Trail.
NEW YORK CITY — Loeb Enterprises has signed an 18,056-square-foot office lease renewal in Midtown Manhattan. The venture capital firm will continue to house its corporate headquarters across the sixth and seventh floors of 712 Fifth Avenue, a 52-story, 545,000-square-foot building. Anthony Dattoma of CBRE represented Loeb Enterprises in the lease negotiations. Paramount Group owns the building.
ROSWELL, GA. — Cushman & Wakefield has arranged a 55,869-square-foot lease renewal at Mansell Overlook, an office park located in Roswell, roughly 25 miles north of downtown Atlanta. Annie Gomez and Jon Mayeske of Cushman & Wakefield represented the tenant, SiteOne Landscape Supply Inc., in the lease negotiations. An entity doing business as Sun Belt Office I LLC is the landlord of Mansell Overlook, which comprises four buildings of Class A office space and is situated on 67 acres. Amenities at the property include outdoor seating, walking paths, a fitness center and a conference center.
CRE College Plaza Buys El Presidio at Pinnacle Park Office Building in Scottsdale, Arizona for $7.6M
SCOTTSDALE, ARIZ. — CRE College Plaza LLC has acquired El Presidio at Pinnacle Park, a two-story office building located at 8700 E. Vista Bonita Drive in the Phoenix suburb of Scottsdale. Flagg Group Scottsdale LLC sold the asset for $7.6 million. Built in 2020, El Presidio at Pinnacle Park offers 59,438 square feet of multi-tenant office space. At the time of sale, the property was 78 percent occupied. Eric Wichterman and Mike Coover of Cushman & Wakefield’s private capital markets group in Phoenix represented the seller in the deal.
SAN ANTONIO — CBRE has negotiated an office lease renewal in North San Antonio for Spectrum Association Management. The locally based homeowners association (HOA) property management firm is reducing its footprint at North Park Corporate Center, an 86,400-square-foot building, from roughly 27,000 square feet to 19,738 square feet. Larry Mendez, Yobana Castillo and Brad Kaufman of CBRE represented Spectrum, which has been a tenant at the building since 2008, in the lease negotiations. An entity doing business as TLO TX2 Investments LLC owns the building.
BEVERLY, MASS. — Rucker Investments has expanded its office footprint in the northeastern Boston suburb of Beverly. The family-owned firm has essentially doubled its commitment at 500 Cummings Center following a custom build-out that delivered a conference room and a full kitchen. Cummings Properties owns the property. No third-party brokers were involved in the lease negotiations.
EAGAN, MINN. — Transwestern Real Estate Services has arranged the sale of a 300,000-square-foot flex office building located at 1000 Blue Gentian Road in the Minneapolis suburb of Eagan. The sales price was undisclosed. The buyer, Hunt Electric Corp., will relocate its headquarters from nearby Bloomington. A national electric design, build and maintenance firm, Hunt Electric is currently headquartered in 160,000 square feet at 7900 Chicago Ave. S. Hunt Electric will own its new headquarters property and retain the four tenants currently occupying about half of the building. Chris Weirens, Nate Erickson, Alex Baron, Ben Youds and Max Stewart of Transwestern represented the buyer. Water Street Partners was the seller. Weirens, Erickson and Youds will also represent Hunt Electric in marketing its former property for sale or lease.
HOBOKEN, N.J. — Unilever (NYSE: UL) has signed a 111,000-square-foot office lease in Hoboken for its new U.S. headquarters. The British conglomerate will occupy three full floors at 111 River Street, which is part of the three-building, 1.5 million-square-foot Waterfront Corporate Center complex. CBRE represented Unilever in the lease negotiations. New York City-based SJP Properties owns Waterfront Corporate Center, which is also home to tenants such as Lipton, Walmart and Newell Brands.
NEW YORK CITY — Cushman & Wakefield has negotiated a 10-year, 26,000-square-foot office lease expansion in Manhattan’s Flatiron District. The tenant, e.l.f. Beauty (NYSE: ELF), will now occupy 39,000 square feet across three full floors at 16 West 22nd Street, where the cosmetics provider has been a tenant since 2020. Jonathan Schindler of Cushman & Wakefield represented the tenant in the lease negotiations. Barbara Yagoda of GFP Real Estate represented the landlord, Meysar Realty Corp.
ST. LOUIS — CBRE has negotiated 15 leases totaling nearly 105,000 square feet at Peabody Plaza, a 400,000-square-foot office tower in St. Louis. Rick Messey and Whitney Allen of CBRE represented ownership, New York-based Briar Meads Capital. The leases were completed within the last 18 months. The tenants include Goldstein and Price LC, Citizens for Modern Transit, Sandberg Phoenix and Von Gontard PC, Gray Ritter Graham, Hinshaw Culbertson LLC, SWMW, Consolidated Grain and Barge, Nahon, Saharovich & Troptz, Mueller Counts LLP, Fernandez Law, Brian Stokes PC and Law Offices O’Driscoll LLC, Vinciguerra Jewelers, UKraft, Keefe and Griffiths PC and Simon Law Group PC. Occupancy at the building has risen from 70 percent in 2020 to over 85 percent in 2024. Located at 701 Market St., Peabody Plaza features a top-floor conference center, 7,000-square-foot fitness center, onsite restaurant, underground parking, 24-hour security and onsite management.