ENCINO, CALIF. — Elysian Housing and Capstone Equities have acquired an office building located at 5435-5445 Balboa Blvd. in Encino from 5435 Balboa LLC for $20.6 million. The buyers will convert the 74,947-square-foot office building into The Oaks on Balboa, an affordable housing community offering 117 studio and one-bedroom apartments. Darren Casamassima and Scott Romick of Lee & Associates LA North/Ventura represented the seller and buyer in the deal.
DALLAS — Newmark has arranged the $218 million sale of The Link at Uptown, a 25-story office building in Dallas. Completed in 2021, The Link at Uptown spans 292,000 square feet and is home to tenants such as Houlihan Lokey, PMG and McGuireWoods. Amenities include a customer lounge, fitness and conference centers and an outdoor terrace with an activity lawn. Chris Murphy, Robert Hill, Gary Carr and Austin Sheahan of Newmark represented the seller and developer, Kaizen Development Partners, in the transaction. The buyer was Atlanta-based REIT Cousins Properties (NYSE: CUZ). The property was approximately 94 percent leased at the time of sale.
SAN FRANCISCO — Lincoln Property Co. and New York Life Real Estate Investors (NYLREI) have acquired 600 Townsend West, a creative office building San Francisco’s Design District. The five-story, 210,000-square-foot building offers average floor plates of 42,000 square feet, a top-floor terrace, a two-story lobby, an outdoor courtyard, shuttle service to BART, secure car and bike parking and LEED Gold certification. At the time of sale, the property was 90 percent leased. Terms of the transaction, which was handled by JLL, were not disclosed. This is the first time the asset has been to for sale since it’s original development in 1989.
NEW YORK CITY — The Conference Board Inc. has signed a 30,171-square-foot office lease in Midtown Manhattan. The global think tank and nonprofit organization is relocating to the entire ninth floor of 875 Third Avenue, a 29-story building, via a 20-year lease. Erik Schmall and Scott Weiss of Savills represented the tenant in the lease negotiations. Paul Glickman, Diana Biascotti, Kristen Morgan and Harris Potter of JLL, along with internal agents Craig Panzirer and Alex Radmin, represented the landlord, Global Holdings.
DAYTONA BEACH, FLA. — SRS Real Estate Partners has arranged the $4.8 million ground lease (land ownership) sale of a newly constructed, single-tenant medical office property located at 2655 LGPA Blvd. in Daytona Beach. Health insurance provider Florida Health Care Plan occupies the 7,500-square-foot building on a 20-year, corporate guaranteed, absolute triple-net lease. Patrick Nutt and William Wamble of SRS Capital Markets represented the seller, a Florida-based developer, as well as the 1031 buyer, a private investor, in the transaction.
GAITHERSBURG, MD. — CBRE has negotiated a 120,000-square-foot office lease in Gaithersburg for American nuclear reactor and fuel design engineering company X-Energy. The new office will span the top five floors of Waterfront at Washingtonian, a 325,455-square-foot office property located at 9801 Washingtonian Blvd., about 20 miles northwest of Washington, D.C. Waterfront at Washingtonian is a 14-story, LEED-certified office building situated within The Washingtonian Center, a 1 million-square-foot retail complex. The property was the former North American headquarters for Sodexo, which vacated in late 2023 to occupy Pike & Rose in Bethesda, Md. At the time, the ownership completed several renovations to the building, including a new lobby and lounge, conference center, fitness center and a grab-and-go market on the ground floor. Brian McCarthy, Niel Beggy and Tim Connolly of CBRE represented the landlord, Prime US REIT, in the lease negotiations. Additional terms of the lease were not disclosed.
FORT LAUDERDALE, FLA. — Native Realty has negotiated the $5 million sale of a 7,541-square-foot office building located at 201 SE 12th St. in Fort Lauderdale. The buyer, a locally based law firm doing business in the transaction as BJO of Fort Lauderdale LLC, plans to occupy the property. Jaime Sturgis and Kaley Tuning of Native Realty represented the seller, an entity doing business as Davie Blvd Office LLC, in the off-market transaction. Completed in 2018, the office building features large windows and surface parking options for tenants.
HUDSON, OHIO — Industrial Realty Group (IRG) has begun the redevelopment of the 1.4 million-square-foot former headquarters campus of fabrics retailer Joann in Hudson, located roughly midway between Cleveland and Akron. The 130-acre campus currently features industrial and office space, as well as undeveloped land. IRG plans to redevelop the campus to support uses such as corporate headquarters, distribution, research and development, manufacturing and retail, through both ground-lease and build-to-suit opportunities. In addition, the company will rebrand the campus as Hudson District and has tapped CBRE as the leasing agent. Joann filed for Chapter 11 bankruptcy in 2024 and earlier this year announced that it would begin closing all its retail stores.
EAGAN, MINN. — Transwestern Real Estate Services has negotiated a 48,563-square-foot office lease in the Minneapolis suburb of Eagan. Leonardo DRS Inc., a defense technology company, will occupy space at Grand Oak VII within the Grand Oak Business Park. The lease term is 10 years. Leonardo DRS is relocating from Burnsville and is expanding its footprint this fall. Grand Oak VII is a 107,076-square-foot, single-story office building completed in 2002. Mike Honsa of Transwestern represented Group RMC, the owner of the 100-acre, 10-building business park. Chuck Bower and Jerry Moroe of RV3 Solutions represented the tenant.
By Brooke Jacobsen, Colliers The Greater Cincinnati and Northern Kentucky office market is weathering the post-pandemic era with surprising nuance. While national headlines continue to focus on uncertainty and high vacancy, the local market is quietly seeing stable, albeit selective, activity, especially in healthcare and specialized user segments. After a slow winter, leasing activity across the region began to thaw in the second quarter of 2025. Year-to-date net absorption remains slightly negative, but market sentiment is gradually shifting, particularly among small to mid-size tenants. Most of the deal activity is coming from users in the 2,500- to 5,000-square-foot range, with several groups focused on healthcare and logistics services. Cincinnati’s Class B and C office space is seeing an unexpected level of demand, driven by affordability, location flexibility and users with highly specific space needs. Medical office continues to stand out as one of the most active sectors. Demand is strong across both urban and suburban submarkets, with notable traction in Cincinnati submarkets. Much of the recent healthcare-related activity has come from specialty practices, private groups and regional health systems looking to reposition their outpatient services. While Northern Kentucky offers value, many users are choosing to locate on the Cincinnati side …
