DALLAS — Principal Management Group has renewed a lease of 16,527 square feet at 3 Park Central and signed a new lease for 6,683 square feet at 4 Park Central in Dallas. Al Paniagua of Swearingen Realty Group represented the tenant. Heather Shover, Kathy Permenter and Sean Dalton of Younger Partners represented the landlord.
CHARLESTOWN, MASS. — Colliers International has arranged the sale of and secured financing for Bunker Hill Business Center in Charlestown. Located at 440 Rutherford Ave., the fully leased property offers 52,944 square feet of flex office space. TD Street LLC, an affiliate of Center Court Partners LLC, acquired the property for $14.7 million from New Canaan, Conn.-based Cambridge Hanover Inc. Colliers secured a $10.5 million fixed-rate acquisition loan for the buyer through LStar Capital Finance Inc., the credit affiliate of Lone Star Funds. Scott Dragos, Doug Jacoby, Tony Hayes and Tim Mulhall of Colliers represented the seller in the transaction. Kevin Phelan and Jeff Black led the Colliers debt placement team.
CHICAGO — Colliers International has arranged the 10-year lease of a 11,000-square-foot office space for law firm Chapman Spingola LP. The property is located at 190 S. LaSalle St. in Chicago, and David Burden and Thomas Berarducci of Colliers International arranged the lease. Tishman Speyer, the building’s owner, was self-represented in the lease transaction. 190 South LaSalle was constructed in 1986 as a Class A office building by architects Philip Johnson and John Burgee. Chapman Spingola LP will occupy a portion of the 38th floor.
KATY, TEXAS — InSite Realty Partners and Urban Cos. have formed a partnership to develop Phase II of Grandway West following a pre-lease commitment for 21,066 square feet from Severn Trent Services Inc. Grandway West is a five-building office development that will total 780,000 square feet when complete. The co-developers have commenced construction on Phase II, which will span 124,017 square feet and be ready for occupancy in March 2016. Transwestern’s Paul Wittorf, Eric Anderson and Parker Burkett are providing leasing services on behalf of the co-developers. In 2011 and 2012, the Class A office market in Katy had vacancy in the 4.5 percent to 6.5 percent range. From 2013 through mid-year 2015, Class A vacancy rose to the high-11 percent range as an increase in construction activity brought new supply to the area. Grandway West is a 56-acre office development located one mile north of I-10 with frontage on the Grand Parkway. Phase I, totaling 83,912 square feet, is 90 percent leased. Phase II has 109,179 square feet available for pre-lease following the Severn Trent Services transaction.
SAVANNAH, GA. — Savannah-based Dawson Architects has designed and renovated roughly 5,000 square feet of office space at 321 West Congress in downtown Savannah. The firm will also occupy the new space, which had been left virtually untouched since its construction circa 1850. Established in 2008, Dawson Architects has grown from just Neil Dawson to 17 employees as of this writing.
MINNEAPOLIS — Cushman & Wakefield/NorthMarq has brokered a lease extension for Lindquist & Vennum LLP. The property is located at the IDS Center in Minneapolis, and the company has leased the space since it became available 43 years ago. Lindquist & Vennum, a law firm, plans to downsize and relocate its 300 attorneys and staff personel within the Minneapolis Landmark Office Tower. For the past 43 years, the company has occupied space on floors 40 through 44 that has totaled 120,000 square feet. The lease renewal is for 81,000 square feet on floors 18 through 21. The lease renewal is good through 2032. Paul Donovan, Brent Erickson and Jaclyn May of Cushman & Wakefield/Northmarq represented Lindquist. Brent Robertson, Jon Dahl and Sam McGuire of JLL represented the IDS Center. Greiner Construction built the property, and Yellow Dog Studio was the architect. The Minneapolis Landmark Office Tower was constructed in a zig-zag design that allows there to be 32 corner offices on each floor instead of the typical four.
BROOKFIELD, MADISON, AND OAK CREEK, WIS. — Colliers International has brokered the lease of 53,904 square feet of space in Wisconsin. Alberts Investment Management Inc. has renewed its 1,540-square-foot lease of office space at Squires II located at 16655 W. Bluemound Road in Brookfield, which is 10 miles west of Milwaukee. Sal Strehlow and Matt Fahey of Colliers International brokered the deal. Memorial Care Center LLC has leased 1,800 square feet of office space at 2830 Dryden Drive in Madison. Brian McClaren and Jim Larkin of Colliers International brokered the deal. SEKO Worldwide has leased 50,564 square feet of industrial space at 10020 S. Reinhardt Drive in Oak Creek, which is approximately 12 miles south of Milwaukee. Tom Shepard of Colliers International brokered the deal.
WALTHAM, MASS. — Holliday Fenoglio Fowler (HFF) has secured $74.2 million in first mortgage financing for a lab/biotech facility located at 830 Winter St. in Waltham, a western suburb of Boston. HFF arranged the floating-rate loan with Wells Fargo while working on behalf of the borrower, a joint venture between King Street Properties and an affiliate of Carlyle Realty Partners VII. Completed in 2001, the 182,104-square-foot facility is fully leased to ImmunoGen, GlaxoSmithKline and Histogenics Corp. Greg LaBine of HFF represented the borrower in the financing transaction.
GREENWICH, CONN. — Allied Property Group has brokered the sale of an office building located at 88 Field Point Road in Greenwich. Field Post Associates LLC acquired the 11,300-square-foot property for $8.4 million from Fairstone Properties LLC. Thomas Torelli of Allied Property Group represented both parties in the transaction.
HOUSTON — IronEdge Group, a Houston-based technology consulting firm and IT services provider, has signed a lease for 13,008 square feet of office space. The new office, which is located at 3000 Wilcrest Drive in Houston, will be the firm’s new corporate headquarters. Rob Johnson of Lee & Associates-Houston represented IronEdge Group in the lease transaction. Randi Carrabba of Client 1st represented the landlord, Jeffrey Westchase LLC.