Office

Farbman Group, Healthrise to Relocate Headquarters in Southfield, Michigan

by Kristin Harlow January 12, 2024

SOUTHFIELD, MICH. — Farbman Group and Healthrise are both relocating their headquarters to a 93,000-square-foot office building located at 31700 Middle Belt Road in Southfield. Yamasaki designed the Class A building, which features underground parking, large floorplates and a campus-like setting. Farbman, a full-service real estate firm currently headquartered at 28400 Northwestern Highway in Southfield, will relocate in the spring or summer of this year. The relocation includes its sister companies Huntington Construction, FarbNET, Medical Real Estate Solutions, Huntington Maintenance Co. and Apex Mechanical Solutions. Healthrise provides IT services for the implementation of electronic health records, worker performance management and revenue cycle management.

January 12, 2024

Leasing Activity Life Sciences Office Texas

IBM Signs 50,000 SF Office, Life Sciences Lease at Parmer Impact Labs in Austin

by Taylor Williams January 12, 2024

AUSTIN, TEXAS — IBM has signed a 50,000-square-foot office and life sciences lease at Parmer Impact Labs in Austin. CBRE represented the landlord, Karlin Real Estate, in the lease negotiations. Cushman & Wakefield represented IBM. The New York-based tech giant follows University of Texas at Austin, which announced in September that it would locate its first off-campus wet lab site at Parmer Impact Labs. A timeline for occupancy was not disclosed.

January 12, 2024

Leasing Activity Office Texas

Holt Lunsford Negotiates 13,936 Office Lease Renewal, Expansion in Plano

by Taylor Williams January 12, 2024

PLANO, TEXAS — Holt Lunsford Commercial has negotiated a 13,936-square-foot office lease renewal and expansion at Lincoln Legacy Two in the northern Dallas suburb of Plano. Chase Stone and Caroline Hix of Holt Lunsford represented the landlord, Larson Capital Management, in the lease negotiations. Scott Jessen of Citadel Partners and Tyler Thomas of Trumont Commercial represented the tenant, The Mathworks, a provider of mathematical computing software.

January 12, 2024

Leasing Activity New York Northeast Office

DoorDash Signs 115,382 SF Office Lease Expansion at 200 Fifth Avenue in Manhattan

by Taylor Williams January 12, 2024

NEW YORK CITY — DoorDash has signed a 115,382-square-foot office lease expansion at 200 Fifth Avenue in Manhattan. The San Francisco-based online food delivery platform is expanding from a 57,691-square-foot space that it had previously subleased to the ninth floor of the 860,000-square-foot building. Bruce Mosler, Ethan Silverstein, Anthony LoPresti and Bianca Di Mauro of Cushman & Wakefield represented the landlord, Boston Properties (NYSE: BXP), in the lease negotiations. Adam Ardise and Greg Pickett, also with Cushman & Wakefield, represented DoorDash, which plans to take occupancy of the new space before the end of the year.

January 12, 2024

Acquisitions Arizona Healthcare Office Western

Regent Properties Sells 153,332 SF Talavi Corporate Center in Glendale, Arizona

by Amy Works January 11, 2024

GLENDALE, ARIZ. — Regent Properties has completed the disposition of Talavi Corporate Center, a three-story office and medical property in Glendale, to Texas-based Woodside for $9.3 million in an all-cash transaction. Situated on 11.4 acres at 5651 W. Talavi Blvd., Talavi Corporate Center offers 153,332 square feet of office and medical space. At the time of sale, the asset was 74 percent leased to five tenants. The center was built in 2002. Woodside plans to upgrade specific suites to speculative condition and enhance other areas of the property to attract new tenants and bring the property to greater stabilization. This transaction is Woodside’s first acquisition in Arizona. Barry Gabel, Chris Marchildon and CJ Osbrink of Newmark represented the seller in the deal.

January 11, 2024

Acquisitions California Office Retail Western

City Center Realty Partners Purchases 4,500 SF Retail, Office Building in San Francisco

by Amy Works January 11, 2024

SAN FRANCISCO — San Francisco-based City Center Realty Partners has acquired a freestanding, multi-tenant retail and office building in San Francisco’s Marina District for an undisclosed price. Tri Counties Bank currently occupies the ground-floor space of the two-story, 4,500-square-foot building, which is located at 2197 Chestnut St. and originally built in 1907. Kazuko Morgan and Heather Trimble of Cushman & Wakefield represented the buyer, while David Klein and Elijah Hodges of Lee & Associates represented the seller in the deal.

January 11, 2024

Leasing Activity New York Northeast Office

JLL Negotiates 5,084 SF Office Lease in Manhattan’s Financial District

by Taylor Williams January 11, 2024

NEW YORK CITY — JLL has negotiated a 5,084-square-foot office lease at 76 Trinity Place, a 26-story building in Manhattan’s Financial District that was completed in 2022. The lease term is five years. John Wheeler, Andrew Coe and Margaux Kelleher of JLL represented the landlord, Trinity Church Wall Street, in the lease negotiations. Jeff Szczapa, Ed DiTolla and Finley Burger, also with JLL, represented the tenant, Boston-based financial technology company Lendbuzz.

January 11, 2024

Acquisitions Office Texas

Novel Office Acquires 225,895 SF Office Building in Houston

by Taylor Williams January 10, 2024

HOUSTON — Dallas-based investment firm Novel Office has acquired 3555 Timmons, a 225,895-square-foot office building in Houston’s Greenway Plaza district. The 15-story building, which according to LoopNet Inc. was originally constructed in 1982, offers amenities such as a conference center, tenant lounge, training room and onsite food-and-beverage options. The seller and sales price were not disclosed. The new ownership has hired Transwestern to lease the building.

January 10, 2024

Acquisitions Midwest Office Wisconsin

JLL Negotiates $27.3M Sale of Office Building in Middleton, Wisconsin

by Kristin Harlow January 10, 2024

MIDDLETON, WIS. — JLL Capital Markets has negotiated the $27.3 million sale of a 200,000-square-foot office building in Middleton near Madison. The fully leased property is located at 7974 UW Health Court. UW Health occupies the four-story building and utilizes it for its administrative departments, including management, information services, compliance and patient billing services. Jaime Fink of JLL represented the seller, Investors Associated LLP. Fink also procured the buyer, AJC Investment Group, a family office located in Bloomfield Hills, Mich.

January 10, 2024

Acquisitions Arizona Healthcare Office Western

Vanbarton Group, Tramview Capital Acquire Three-Property Medical Office Portfolio in Tucson, Arizona

by Amy Works January 10, 2024

TUCSON, ARIZ. — A joint venture between Vanbarton Group and Tramview Capital Management has purchased a three-property medical office portfolio, totaling 57,600 square feet, in Tucson. Terms of the transaction were not released. The portfolio was acquired through a sale-leaseback transaction with Banner Health, which will continue to lease and occupy each building.

January 10, 2024

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