STAMFORD, CONN. — Building and Land Technology (BLT) has acquired a 550,000-square-foot office complex, located at 1 Elmcroft Road in Stamford. Designed by I.M. Pei & Partners, the property is the former headquarters of Pitney Bowes. BLT acquired the vacant complex fromby Pitney Bowes for an undisclosed sum. The property is located adjacent to Harbor Point, the transformative mixed-use waterfront development in Stamford. BLT plans to reintroduce the complex to the market as prime office space.
DALLAS — Champion Partners has rebranded 3500 Maple, an 18-story office building in Dallas, as Parkside Tower at 3500 Maple. Along with the name change, the tower has undergone a renovation focused on health, wellness and convenience to better accommodate the professional class in the Uptown market. Champion, a Dallas-based commercial real estate investment and development firm, will work with Gensler and Building & Land Technology on the renovation. The redevelopment of the 376,000-square-foot building will include transformed entry elements and a new lobby, a new outdoor plaza and courtyard area, new common lounge and seating areas off the building lobby with WiFi connectivity, a fitness center, café and new front door drop-off area along Maple Avenue. Other amenities will include wood furnishings and green technology. Located in Uptown, the building will offer a full-service experience on health, wellness and convenience with easy access to the Katy Trail.
DALLAS — Gaedeke Group LLC has begun construction on the 327,856-square-foot One Legacy West, a speculative five-star office building beside the future headquarters campuses of Toyota Motor North American and FedEx Office & Print Services Inc. The 11-acre development site is located at the southeast corner of Sam Rayburn Tollway and Legacy Drive. The office building will be part of the $2 billion Legacy West, a 240-acre urban mixed-use development that is spearheaded by Karahan Cos., KDC and Columbus Realty Partners. One Legacy West and its attached six-level parking structure will be completed in the fourth quarter of 2016. Designed for LEED Gold certification, the project will be the first multi-tenant office space to deliver in Legacy West. Mark Dilworth, principal of Dallas-based Morrison Dilworth + Walls, designed One Legacy West. Austin Commercial is the general contractor and Andres Construction is the construction manager.
HOUSTON — Houston-based MetroNational plans to begin developing a 240,000-square-foot office building located in Houston’s Memorial City district. The development will be situated on MetroNational’s 18-acre tract located at the northwest corner of Gessner Road and the Katy Freeway, directly across from the Memorial Hermann Tower. CEMEX’s U.S. headquarters will anchor the six-floor, LEED-certified building at 10100 Katy Freeway. MetroNational, a privately held real estate investment, development and management company, began assembling the tract in 1961. CEMEX has had offices in Memorial City since 2005 and will now occupy approximately 80,000 square feet on the new building’s second and third levels. Each level features 40,000-square-foot floor plates. The building’s first floor will include approximately 15,000 square feet dedicated to retail, and the top three floors are available for pre-leasing. Building amenities will include 24-hour security, card key access and connectivity to Memorial City conveniences via a shuttle service. Powers Brown Architecture is the architect of record, and Anslow Bryant Construction is the general contractor for the project. Sue Rogers and Steven Heal of Cresa represented CEMEX, and MetroNational represented itself in the transaction. The project is due to break ground this fall, and completion is projected for fall 2016.
EL PASO, TEXAS — Guy Arnold has been named president of Hunt Real Estate. In this role, Arnold will be responsible for managing all aspects of Hunt’s real estate equity investment portfolio, including acquisitions and dispositions of real assets. Arnold has more than 25 years of real estate experience. In 2013, he founded GMA Holdings, a commercial real estate investment firm in Denver. Prior to that, Arnold served as president of Denver-based Dividend Capital Diversified Property Fund, where he led all functions of the $2.9 billion REIT, including property acquisitions, dispositions, asset management, finance, reporting, human resources and investor relations. Arnold also held the position of managing director at Cherokee Investment Partners and vice president at Colorado & Santa Fe Land Co. Arnold is a member of the Board of Directors of the Meridian Fund Inc., a family of mutual funds; a member of the Board of Directors for The Children’s Hospital of Colorado Finance Committee; chairman of the Trusts and Endowments Committee for the Episcopal Diocese of Colorado; and a former member of the Board of Directors of Steele Street Bank & Trust, a $550 million Denver community bank that recently sold to MidFirst Bank. Arnold earned a Bachelor …
BENTONVILLE, ARK. — Newmark Grubb Arkansas has brokered the $6 million sale of two office buildings located at 700 and 702 S.E. 5th St. in Bentonville. The properties are situated on a 3.2-acre lot and span roughly 59,000 square feet. Bentonville-based Food Hub NWA LLC purchased the buildings from Dixieland Inc., which is also based in Bentonville. Paul Esterer of Newmark Grubb Arkansas represented Food Hub in the transaction. Steve Fineberg and Amy Mills of Steve Fineberg & Associates represented Dixieland.
SCOTTSDALE, ARIZ. – Cypress West Partners has purchased Scottsdale at Mescal, a 48,457-square-foot medical office building, for an undisclosed sum. The garden-style complex is located at 10900 N. Scottsdale Road. It is anchored by Honor Health, formerly known as Scottsdale Health. Cypress’ joint venture partner on this acquisition was MedProperties Holdings LLC.
AKRON, OHIO — McKinley has secured $32.9 million in credit tenant lease financing with KeyBank Real Estate Capital for FirstEnergy Plaza in downtown Akron. After executing a long-term lease with FirstEnergy Corp., McKinley secured the loan to finance major improvements at the 19-story, 335,000-square-foot Class A office tower. FirstEnergy Tower is part of a 530,000-square-foot twin-tower development, which includes Akron Center Plaza, owned by McKinley.
DALLAS — Miyama USA Texas and Pillar Commercial are teaming up on a proposed new office showroom/distribution project in Dallas. The 250,000-square-foot, two-building complex, SOHCO (previously known as Cornerstone Business Park), is owned by the Miyama family. Both existing facilities (9761 and 9755 Clifford Drive) are 100 percent leased and situated directly off I-35 just south of Spur 482, located between Love Field and DFW airports. The property includes an eight-acre site on which the development team is planning to build a third phase that will contain approximately 115,000 square feet with up to 30 dock-high doors. The Miyama family has owned SOHCO since 2006, and Pillar Commercial has worked with the Miyamas since 2007. A new jogging trail, clubhouse and upgrades to Phase I and Phase II are also being contemplated as part of the overall master plan.
INDIANAPOLIS — Fairbridge Properties has acquired Landmark Center, an office tower located at 1099 N. Meridian St. in Indianapolis. The 12-story, 304,946-square-foot Class A property sold for $21.5 million. The property features 25,000-square-foot floor plates, a fitness center and yoga studio, conference facility, indoor bike storage, full-service cafeteria and a parking ratio of four spots per 1,000 square feet. At the time of sale, the property was 94 percent leased to tenants, including Angie’s List, Consolidated Care, Disciples of Christ, United States Citizenship and Immigration Service and Jacobs Engineering. Andy Banister and Dan Richardson of CBRE represented the undisclosed seller, while Eli Mills and Tucker White, also of CBRE, represented Fairbridge in the transaction.
