TEMECULA, CALIF. — Level Asset Capital has acquired Tower Office Plaza, an office property in Temecula, for $13.8 million. Located at 27555 Ynez Road, the four-story asset is situated within Tower Plaza, a grocery-anchored retail center. The four-story, 71,775-square-foot office building includes a two-story parking structure and an oversized pond water feature. At the time of sale, the property was 94 percent occupied with tenants ranging from medical providers to banking services. Matt Pourcho, Anthony DeLorenzo, Matt Harris and Bryan Johnson of CBRE Investment Properties represented the seller, Providence Real Estate Group. Hugo Cosio of Level Asset Capital represented the buyer in the transaction.
LAKEWOOD, COLO. — Marcus & Millichap has arranged the sale of an office building in Lakewood, a first-ring suburb of Denver. A private investor purchased the asset from a limited liability company for $2.1 million. Located at 3405 Yarrow St., the property offers 7,053 square feet of Class B office space. Built in 2023, the building is fully occupied by Stanbrick Dental and Dental Care Alliance. Erik Enstad, Chadd Nelson and Brandon Kramer of Marcus & Millichap’s Denver office represented the seller, while Chris Lind, Mark Ruble, Zack House and Sean Lenchner of Marcus & Millichap’s Phoenix office represented the buyer in the deal. Adam Lewis of Marcus & Millichap served as Colorado broker of record.
BURLINGTON, MASS. — Geotechnical engineering services firm McPhail Associates has signed a 12,739-square-foot lease at an industrial flex property in Burlington, a northwestern suburb of Boston. According to LoopNet Inc., the property at 42-44 Third Ave. was originally constructed in 1966 and totals 25,521 square feet. ABG Commercial Realty represented the landlord, Nordblom Management Co., in the lease negotiations. The representative of the tenant was not disclosed.
HOUSTON — General contractor O’Donnell Snider has completed a $6 million renovation of the 55,718-square-foot office headquarters space of law firm Chamberlain Hrdlicka at Two Allen Center in downtown Houston. The two-story space features an internal connecting staircase, four conference rooms, a café-inspired breakroom and an open-air lobby. Gensler served as the project architect. Chamberlain Hrdlicka signed an office lease extension at Two Allen Center in 2022. Tim Relyea of Cushman & Wakefield represented the firm in that deal.
FORT WORTH, TEXAS — Single-family residential developer Highland Homes has signed an 8,500-square-foot office lease at Hillwood Commons II, a newly constructed office building located within the Alliance Town Center in North Fort Worth. The office will be the company’s fifth in Texas and will be able to support up to 175 employees. Scott Hobbs and Kim Lyon of Newmark represented Highland Homes, which plans to take occupancy this summer, in the lease negotiations.
FAIRFIELD, N.J. — ConnectiveRX, a provider of various support services for the healthcare industry, has signed a 19,371-square-foot office lease renewal in the Northern New Jersey community of Fairfield. ConnectiveRX is re-committing to its space at Greenbrook Executive Center, a 203,028-square-foot building owned by locally based investment firm Accordia Realty Ventures, on a short-term basis. Fred Hyatt and Derek DeMartino of JLL brokered the lease on behalf of ownership. Law firm Dwyer, Connell & Lisbona LLP also recently committed to a five-year renewal for its 7,731-square-foot suite at Greenbrook Executive Center.
NEW YORK CITY — JLL has negotiated a 15,202-square-foot office lease at 71 Fifth Ave. in the Union Square/Flatiron area of Manhattan. The tenant, AI-backed video game company Captions, will occupy the entire sixth floor of the 11-story building, which was originally constructed in 1907. Kyle Riker of JLL represented Captions in the lease negotiations. Mitchell Konsker, Ben Bass, Dan Turkewitz and Kyle Young, also with JLL, represented the landlord, a partnership between Madison Capital and Lubert Adler Partners, in conjunction with internal agents Jonathan Ratner and Cindy Chang.
MILWAUKEE — The Milwaukee office of Kraus-Anderson Construction will build the new corporate headquarters for Enerpac Tool Group in downtown Milwaukee. Currently located in Menomonee Falls, Enerpac will be relocating to the former ASQ Center at 648 N. Plankinton Ave. The building will be renamed Enerpac Center. The global manufacturer of industrial tools will occupy 50,000 square feet on the fourth floor. Approximately 130 employees will relocate downtown. American Society for Quality will continue to house its headquarters in the building. Creative Business Interiors provided full interior architectural design services. Enerpac’s space will feature a research and testing lab, open collaborative spaces, large conference rooms and offices. Plans also call for a fitness studio, eat-in café and updated restrooms. A full interior demolition of existing spaces will begin in early March and will combine the fourth floors of the existing north and south buildings, which are currently separate. Construction is slated to begin in late April and to be completed in late 2024 or early 2025.
CLEVELAND — Farbman Group has taken over management of the 508,397-square-foot, 27-story Fifth Third Center in downtown Cleveland. The Class A office building is situated near the city’s historic Superior Avenue. Tenants include Fifth Third Bank, McDonald Hopkins, HWH Architects Engineers Planners, Brouse McDowell and more. Farbman manages more than 30 million square feet of office, retail, multifamily, student housing and industrial space throughout the Midwest.
HOUSTON — Morales Capital Group, an affiliate of Mexcor International, has unveiled redevelopment plans for Viva Center, a 2.3 million-square-foot office and warehouse complex on a 66-acre site in Houston. The developer plans to revitalize the facility to support the research and development of liquid-cooled IT equipment for supercomputing. Eduardo Morales, CEO of Mexcor International and Morales Capital Group, says he envisions the newly rebranded Viva Center as “a transformative tech hub that seamlessly blends Houston’s rich history with futuristic innovations. With a focus on integrating cutting-edge infrastructure and next-gen application platforms, Viva Center aims to lead the charge in shaping Houston’s technological landscape for years to come.” Morales bought the property in 2022. The asset is part of a larger, sprawling, 300-acre campus that once served as the headquarters of Compaq, which was the largest home computer manufacturer of the 1990s. Fellow tech giant Hewlett-Packard bought Compaq in 2002 and has gradually sold off pieces of the campus, finally leaving the site entirely for a newly built, smaller building in the suburbs in 2022. For example, in 2009, Lone Star College purchased 1.2 million square feet of the property and turned it into a branch of the college. VivaVerse Solutions LLC will lead …