Office

InvestCore Secures Sale of Education Center Property in San Antonio

by Haisten Willis May 18, 2016

SAN ANTONIO — InvestCore Commercial has secured the sale of a 50,150-square-foot building that is net leased to the City of San Antonio Pre-K Education Center. The 5.4-acre site is located at 1235 Old Highway 90 W. A private California-based REIT purchased the property, which was built in 2014. The city of San Antonio maintains a long-term lease at the facility, with options to extend. Ed Colson Jr. and Michael Campbell of San Diego-based InvestCore Commercial represented the seller, the developer of the property, in the transaction.

May 18, 2016

Related, LargaVista Break Ground for 80,000 SF Office/Retail Building in SoHo

by Amy Works May 18, 2016

NEW YORK CITY — Related Cos. and LargaVista Cos. have broken ground for 300 Lafayette Street, an 80,000-square-foot office and retail building located in SoHo. The seven-story building will feature 50,000 square feet office space on floors three through seven and 30,000 square feet of retail space on the first two floors. The office portion of the building will include a separate lobby from the flagship retail space. Designed by COOKFOX Architects for LEED Silver certification, the property is slated for completion in early 2018. JLL has been retained to market for lease both portions of the property.

May 18, 2016

Massachusetts Northeast Office

Hanscom Federal Credit Union Acquires 67,167 SF Office Building in Massachusetts for $3.2M

by Amy Works May 18, 2016

LITTLETON, MASS. — Hanscom Federal Credit Union has purchased an office building located at 25 Porter Road in Littleton. Wheelock Street Capital and Novaya Real Estate Ventures sold the building for $3.2 million. The 67,167-square-foot building is located off Route 2 at the intersection of Interstate 495. David Gilkie and Jim Boudrot of NAI Hunneman represented the buyer in the transaction. NAI Hunneman has been retained to market for lease the remaining space in the building.

May 18, 2016

Hospitality Maryland Mixed-Use Multifamily Office Retail Southeast Top Stories

Construction Begins on $750M Mixed-Use Development in Metro Baltimore

by Haisten Willis May 18, 2016

WHITE MARSH, MD. — Construction has begun on Greenleigh at Crossroads, a $750 million component of Baltimore Crossroads, a 1,000-acre mixed-use development in White Marsh in the eastern section of Baltimore County. The completed Greenleigh at Crossroads will contain 1,000 single-family homes and townhomes, 500 multifamily units, three mid-rise Class A office buildings spanning 300,000 square feet, 128,000 square feet of single-story office space, 116,000 square feet of retail and a 120-room SpringHill Suites by Marriott. The development team consists of St. John Properties, Somerset Construction Co. and Elm Street Development. “The integrated design of Greenleigh at Crossroads reflects and responds to the new urbanism trend that is sweeping the country, while also complementing the existing product mix that exists at Baltimore Crossroads,” says Edward St. John, chairman of St. John Properties. St. John Properties has broken ground on one of the office buildings, and should begin construction on the hotel in late 2016. Elm Street Development will soon begin building the single-family homes and townhomes, with models expected to open in spring 2017. Somerset Construction will begin work this fall on The Berkleigh, a luxury apartment community featuring 317 units. Located along Maryland Route 43 near I-95, Baltimore Crossroads is …

May 18, 2016

Midwest Office Ohio

Fairbridge Properties Acquires 252,985 SF Office Tower in Cincinnati

by Christina Cannon May 17, 2016

CINCINNATI — Fairbridge Properties, a private investment company, has acquired Pictoria Tower, a 252,985-square-foot, Class A office property in Cincinnati for an undisclosed price. The eight-story building, located at 225 Pictoria Drive within the Pictoria Corporate Center, is 98 percent leased. Amenities at the property include covered access to a seven-level parking garage, conference center, upgraded lobby and two-story water feature. Tenants at Pictoria Tower include First Financial Bancorp, Northrop Grumman Corp., Beckfield College, HealthSpan, Ameriprise Financial, Yusen Logistics and Ultimus Fund Solutions LLC. There is currently a 4,000-square-foot vacancy in the building. Thomas Powers, James O’Connell and Michael Sullivan of Cushman & Wakefield represented the undisclosed seller in the transaction.

May 17, 2016

District of Columbia Office Southeast

Carr Properties Breaks Ground on 862,000 SF Midtown Center in D.C.

by John Nelson May 16, 2016

WASHINGTON, D.C. — Carr Properties has broken ground on Midtown Center, a Class A, 862,000-square-foot trophy office development in Washington, D.C. The LEED Gold-certified project will be located at the corner of 15th and L streets, a 90,000-square-foot site that served as the headquarters location for The Washington Post for over 50 years. Fannie Mae will anchor the 14-story development with its new national headquarters upon completion, which is slated for June 2018. Fannie Mae will pay roughly $38 million annually to occupy Midtown Center, according to the Washington Business Journal. The project team includes architect SHoP Architects and general contractor Clark Construction. The groundbreaking ceremony took place on Thursday, May 12 and was attended by Washington, D.C. Mayor Muriel Bowser and Councilmember Jack Evans. Midtown Center will feature two office towers separated by a European-style public plaza. The amenities will include three levels of below-grade parking, an 8,300-square-foot fitness center, 1,300-square-foot bike room, 1,000-square-foot rooftop conference center and 50,000 square feet of retail space.

May 16, 2016

California Office Western

Construction Begins for Santa Monica Gateway Office Project

by Nellie Day May 16, 2016

SANTA MONICA, CALIF. — Construction has commenced on Santa Monica Gateway, a 200,000-square-foot creative office campus in Santa Monica. The project will be located at 2834 Colorado Ave. The property offers 10,600- to 36,000-square-foot floor plates in a two-building, four-story campus with a three-level subterranean garage. The campus will be ready for occupancy in late 2017. DRDS and Gruen Associates are designing the project. JLL’s Carl Muhlstein and Tom Cherry are leading the leasing efforts. The firm is also handling project and development management.

May 16, 2016

California Office Western

Former San Diego Daily Transcript Building Sells for $5.3M

by Nellie Day May 16, 2016

SAN DIEGO — SDPB Holdings LLC has purchased a 34,298-square-foot office property that formerly housed the San Diego Daily Transcript for $5.3 million. The three-building property is located at 2131 3rd Ave. The property was home to the San Diego Daily Transcript for more than three decades. The newspaper vacated the space in October 2015. The LLC plans to redevelop the property into a creative office complex. Paul Lafrenz, Marc Frederick and Tim Cowden of Colliers International represented The Transcript in the transaction.

May 16, 2016

Office Texas

San Antonio Commercial Advisors Brokers Sale of Office Building

by Haisten Willis May 13, 2016

SAN ANTONIO — San Antonio Commercial Advisors (SACA), an independently owned and operated member of the Cushman & Wakefield Alliance, has arranged the sale of 231 E. Rhapsody Drive, an office building located in north San Antonio. SACA’s Ed Cross represented the buyer, Young Men’s Christian Association (YMCA) of Greater San Antonio, who purchased the building for its administrative offices. Keith Coelho of Henry S. Miller represented the unnamed seller.

May 13, 2016

Office Retail Texas

Jack Dawson Joins SRS Real Estate Partners as Senior Associate

by Haisten Willis May 13, 2016

DALLAS — Jack Dawson has joined SRS Real Estate Partners as a senior associate in the firm’s Dallas/Fort Worth office. Dawson focuses on tenant and landlord representation as well as investment sales. Dawson joins SRS with three years of experience in commercial real estate. He has worked with several retailers in the Dallas and north Texas markets such as AIO/Cricket Wireless, JPMorgan Chase Bank, Sub Zero Ice Cream and Eskimo Hut. He has also worked with many landlords in various project leasing assignments, and marketed several investment sale listings. Dawson has a bachelor’s degree from Southern Methodist University, where he was a Hunt Leadership scholar and a Cox Business School BBA scholar. He is a member of the International Council of Shopping Centers (ICSC) and North Texas Commercial Association of Realtors (NTCAR). Additionally, Dawson regularly works with the Yellow Rose Gala Foundation, a group that supports multiple sclerosis research.

May 13, 2016

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