Tuesday, May 20, 2025
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AcquisitionsMidwestMissouriOffice

Sentinel Net Lease Sells 268,413 SF Chase Operations Center in Springfield, Missouri

by Kristin Harlow

SPRINGFIELD, MO. — Sentinel Net Lease has sold the Chase Operations Center, a 268,413-square-foot office building in Springfield, a city in southwest Missouri. The sales price was undisclosed. A local healthcare operator purchased the property. Holding the asset for less than two years, Sentinel generated an internal rate of return of 45 percent and produced a return on invested capital of 1.9 times. The sale marks one of the most profitable office transactions nationwide over the past several years, according to Sentinel. Ross Murray of R.B. Murray Co. brokered the transaction.

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IllinoisLeasing ActivityMidwestOffice

Mintel Signs 30,000 SF Office Lease in Chicago’s Central Loop

by Kristin Harlow

CHICAGO — Mintel has signed a 30,000-square-foot office lease at 203 N. LaSalle, a 27-story office tower totaling 624,724 square feet in Chicago’s Central Loop. The global market intelligence agency has relocated from its 26,000-square-foot office at 333 W. Wacker Drive in the West Loop. The Chicago office is the only address that the organization maintains in North America. Kathleen Bertrand, Eric Myers and John Nelson of Transwestern represented ownership, Sumitomo Corp. of Americas. Transwestern handles leasing and management of the building. Michelle Wiedman of Wiedman Real Estate represented Mintel.

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Queens-Atrium
Leasing ActivityNew YorkNortheastOffice

LaGuardia Community College Signs 210,334 SF Office Lease Extension in Queens

by Taylor Williams

NEW YORK CITY — LaGuardia Community College has signed a 10-year, 210,334-square-foot office lease extension in the Long Island City area of Queens. The educational institution will continue to occupy four of the eight floors at Queen’s Atrium, a 425,300-square-foot building located at 30-20 Thomson Ave. that was originally built in 1914,. Ira Schuman of Savills represented LaGuardia Community College in the lease negotiations. Randall Briskin represented the landlord, The Feil Organization, on an internal basis.

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The-Madison-Addison
Leasing ActivityOfficeTexas

CheckSammy Signs 45,098 SF Office Lease Renewal, Expansion in Metro Dallas

by Taylor Williams

ADDISON, TEXAS — CheckSammy has signed a 45,098-square-foot office lease renewal and expansion in the northern Dallas metro of Addison. The waste management services provider is taking an additional 22,549 square feet at The Madison, a 288,000-square-foot building located at 15851 N. Dallas Parkway. Travis Boothe, Hanna Henley and Robbie Baty of Cushman & Wakefield represented the tenant in the lease negotiations. Michael Foster and Chris Andler represented the landlord, Property Advisers Realty, on an internal basis.

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AcquisitionsDevelopmentMidwestMinnesotaOffice

Ryan Cos., Thomson Reuters Ink Purchase, Sale Agreement for 179 Acres in Eagan, Minnesota

by Kristin Harlow

EAGAN, MINN. — Ryan Cos. US Inc. has entered into a purchase and sale agreement with Thomson Reuters for 179 acres of the company’s 263-acre campus in Eagan, a suburb of Minneapolis. Financial terms of the transaction were not disclosed. The campus includes a 1.1 million-square-foot office building, three data centers totaling 333,912 square feet and 90 acres of undeveloped land. Ryan will work with the City of Eagan, Thomson Reuters and other area stakeholders to explore redevelopment options for the site. The Minneapolis-St. Paul office of Thomson Reuters will remain in Eagan, but will relocate to its new site, The Landing, in the coming months. The company’s print manufacturing facility was not for sale and will continue operating at its current location. The project marks the third major redevelopment that Ryan has undertaken in the past year. All three are in Minnesota. Canada-based Thomson Reuters is a global content and technology company.

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IllinoisLeasing ActivityMidwestOffice

Inspira Financial Signs 51,000 SF Office Lease Renewal in Suburban Chicago

by Kristin Harlow

OAK BROOK, ILL. — Inspira Financial has renewed its 51,000-square-foot office lease at Commerce Plaza in the Chicago suburb of Oak Brook. Jon Springer and Gary Fazzio of CBRE represented the tenant, which is a health, wealth, retirement and benefits services provider. Located at 2001 Spring Road, Commerce Plaza is a 510,000-square-foot, Class A office campus made up of three interconnected buildings. Inspira plans on modernizing its space.

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Broadway-Road-Portfolio-Phoenix-AZ
AcquisitionsArizonaOfficeWestern

GIP Purchases Two-Building Office Portfolio in Phoenix for $17.4M

by Amy Works

PHOENIX — Deer Park, Ill.-based Government Investment Partners (GIP) has acquired a two-building office portfolio, located at 3925 and 3945 E. Broadway Road in Phoenix, from The Simone Charitable Foundation for $17.4 million. The State of Arizona Department of Child Safety and Imani Wellness occupy the 75,148-square-foot building at 3925 E. Broadway Road, and the City of Phoenix occupies the 61,850-square-foot building at 3945 E. Broadway Road. Totaling 136,998 square feet, the portfolio was 88 percent occupied at the time of sale. Brian Ackerman of Colliers handled the transaction.

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DevelopmentLeasing ActivityNorth CarolinaOfficeSoutheast

Four Office Tenants Sign Leases at Station at LoSo Mixed-Use Development in Charlotte

by John Nelson

CHARLOTTE, N.C. — Four office tenants have signed leases at The Station at LoSo, Beacon Partners’ mixed-use development in the Lower South End (LoSo) of Charlotte. Dwell Design Studio will occupy 4,876 square feet at the property’s Station 3, beginning this quarter, and an additional, undisclosed tenant has also signed a 10,075-square-foot at Station 3, bringing the building to full occupancy. Gambling.com Group has also leased 10,413 square feet at the development, with plans to begin occupancy in the second quarter of this year. Chris Schaaf, Ross Howard and Conor Brennan of JLL represented Gambling.com Group in the lease negotiations, and Griff Sims of Lee & Associates and Mary Allison Mitchell York of NewLeaf Brokerage represented Dwell Design Studio. Additionally, Beacon Partners will move its headquarters into a 12,254-square-foot space within Station 4. Situated with direct access to the Rail Trail, The Station at LoSo comprises 350 residential units, as well as 200,000 square feet of office and retail space. Retail tenants at the development include The People’s Market, Taco Boy and Salata Salad Kitchen.

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Collins-Crossing-Richardson
AcquisitionsOfficeTexas

Newmark Arranges Sale of 300,887 SF Office Building in Richardson, Texas

by Taylor Williams

RICHARDSON, TEXAS — Newmark has arranged the sale of Collins Crossing, a 300,887-square-foot office building located along North Central Expressway in the northeastern Dallas suburb of Richardson. The 11-story building was constructed in 1999, according to LoopNet Inc. Amenities include a deli, fitness center and a conference center. Gary Carr, Robert Hill and Chris Murphy of Newmark represented the seller, Massachusetts-based Franklin Street Properties Corp., in the transaction. The buyer, a partnership between Goldenrod Cos. and Reserve Capital Partners, purchased the asset for an undisclosed price.  The sale included the building’s parking structure and an adjacent 3.6-acre parcel that can support mixed-use development. Collins Crossing was 85 percent leased at the time of sale.

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AlabamaDevelopmentMixed-UseMultifamilyOfficeRetailSoutheastTop Stories

Essex Capital, Ascend Property Group Break Ground on Front Row Mixed-Use Development in Huntsville, Alabama

by Jeff Shaw

HUNTSVILLE, ALA. — A joint venture between Essex Capital and Ascend Property Group has broken ground on Front Row, an 11-acre mixed-use project in downtown Huntsville. The $220 million first phase of Front Row is now underway, following news last week that Banco Inbursa and a group led by Keel Point and Opportunity Alabama provided $115 million in construction financing. The first retail space is slated for delivery in late 2025, followed by apartments and office space in early 2026. Upon full build-out, the first phase of Front Row will comprise two six-story buildings featuring 545 apartments, 36,000 square feet of office space and 47,000 square feet of retail space. Further plans for the project — including a hotel, a class A office tower and luxury condos — will be disclosed at a later date, according to the developers. The development will be situated across from the Von Braun Center, a 170,000-square-foot entertainment center that opened its doors in 1975. The developers state that Front Row is intended to interlink the Von Braun Center with other key areas of the city, such as Big Spring Park, Fountain Circle, University of Alabama Huntsville and Downtown Greenway. The project’s team also includes …

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