RANCHO CUCAMONGA, CALIF. — CBRE has negotiated the sale of a two-story office building located at 9421 Haven Ave. in Rancho Cucamonga. A local owner-user acquired the asset from FJKC Investment LLC for $6.3 million. The 20,600-square-foot building was vacant at the time of sale. Sammy Cemo, Austin Reuland and Anthony DeLorenzo of CBRE represented the seller in the deal.
ATLANTA — A joint venture between a nationally prominent developer of student housing, Landmark Properties, and its family office, Westlake Capital, has acquired Northcreek Office Park, a 536,547-square-foot office campus in the Buckhead neighborhood of Atlanta. Richard Reid of JLL represented the seller in the transaction. The sales price was also not disclosed. Landmark Properties plans to utilize some of the office space to accommodate its growing Atlanta workforce while maintaining its headquarters in Athens, Ga., as well as its existing executive offices at nearby Buckhead Plaza. Situated on about 40 acres, the four-building campus was renovated from 2003 to 2009 and comprises a roster of more than 70 tenants. The property features a range of onsite amenities including a café, conference and meeting facility, fitness center and 24/7 security with key-card access. Landmark plans to revitalize the common area within Northcreek Office Park to enhance tenant amenities. Additionally, Regent Partners will relocate its corporate office to Northcreek Office Park to continue serving as its property manager and leasing agent.
ATLANTA — Business law firm Bradley Arant Boult Cummings LLP has signed a 61,470-square-foot lease to officially move its Atlanta office to a newly renovated office suite in Promenade Tower, which is located at 1230 Peachtree St. NE in Midtown. The firm will occupy floors 19-21. Owned by Cousins Properties, the 777,050-square-foot office tower offers conference facilities, enhanced technology, flexible workspaces and a range of amenities including a fitness center, onsite dining options and direct access to public transit. Bradley has grown from 20 attorneys to 58 attorneys since launching its Atlanta office in May 2023.
NEWPORT BEACH, CALIF. — Formosa Ltd., a venture led by Joe C. Wren, has purchased 5000 Birch Street, a two-building office campus in Newport Beach. Terms of the transaction were not disclosed. Lincoln Property Co. was retained to provide property management and operations services for the 310,000-square-foot Class A asset, which is situated within the 160-acre master-planned Koll Center Newport. The property offers surface parking, a towel-served fitness center, an onsite restaurant and a conference and event space. Matt Didier and Jessie Tichelaar of CBRE will handle leasing for the office campus. Chet Cramin and Jacob Bedingfield of MusickPeeler served as legal counsel to Formosa and Wen during the transaction.
PLANO, TEXAS — Holt Lunsford Commercial has negotiated a 24,000-square-foot office lease renewal in Plano. The tenant is White Rock Oil & Gas, and the space is located within Legacy Lincoln Two, a five-story, 130,371-square-foot building. Chase Stone and Paul Hernandez of Holt Lunsford represented the landlord, St. Louis-based Larson Capital Management, in the lease negotiations. John Ellerman of Stream Realty Partners represented the tenant.
INDIANAPOLIS, SOUTH BEND AND BLOOMINGTON, IND. — International Workplace Group (IWG), a hybrid workspace platform with brands such as Spaces, Regus and HQ, has added three new coworking spaces in Indiana. The company’s footprint now totals more than 20 locations in the state. The new locations are at 863 Massachusetts Ave. in Indianapolis, 701 N. Niles Ave. in South Bend and 3802 E. 3rd St. in Bloomington. The Bloomington facility is now open, while the others will debut later this year. All will include private offices, meeting rooms, coworking and creative spaces. Citing explosive market growth as companies of all sizes adopt hybrid working for the long term, IWG says that 30 percent of all commercial real estate will be flexible workspace by 2030.
NEW YORK CITY — JLL has negotiated a 15,397-square-foot office lease expansion in Midtown Manhattan. The tenant, commercial lender Webster Bank, also extended its lease and now occupies about 46,000 square feet across three full floors at 360 Lexington Avenue, a 268,000-square-foot building. Jeff Szczapa and Drew Saunders of JLL represented Webster Bank in the lease negotiations. Mitchell Konsker, Ben Bass, Barbara Winter and Thomas Swartz, also with JLL, represented the landlord, AmTrust RE.
Birmingham’s office market is holding its own with overall market occupancy at 82.6 percent as of fourth-quarter 2024. We saw a slower second half of the year, but that is to be expected during a presidential election year when companies often hit pause on significant real estate decisions. During the fourth quarter, Birmingham’s multi-tenant office market recorded negative absorption of 67,739 square feet, but that was a notable improvement from the negative 268,061 square feet recorded the previous quarter. Leasing activity for the quarter came in at 180,849 square feet, bringing the year-to-date total to just over 562,000 square feet — about 22 percent below the previous year’s pace. While definitely a slowdown, this performance is nothing out of step with the broader national trends. Signs of positive momentum The good news? Since the start of 2025, activity has picked up across the board. Tenants are back in the market touring space and rethinking their long-term office needs. Some are expanding, some are rightsizing to space that better fits how they work today and others are updating their office protocols to bring employees back in more regularly — all of which is driving movement in the market. In addition, several …
RICHARDSON, TEXAS — GEICO has signed a 165,000-square-foot office lease in the northeastern Dallas suburb of Richardson. The insurance provider for government workers will occupy the entirety of Building B at Galatyn Commons, a four-building, 800,000-square-foot campus. Anya Ostry, Doug Carignan, Travis Boyd and Christy Rhea of CBRE represented GEICO in the lease negotiations. Chris Taylor and Zach Bean of Cushman & Wakefield represented the landlord, Mapletree, a global investment firm based in Singapore, which just completed a renovation of the campus.
CARROLLTON, TEXAS — Holt Lunsford Commercial has negotiated a 51,000-square-foot office lease renewal in the northern Dallas metro of Carrollton. The tenant is Kristopher James Co., which provides printing, mailing and consulting services to the finance industry, and the building is located at 1406 Dunn Drive. Hudson Sheets and Adam Curran of Holt Lunsford represented the tenant in the lease negotiations. Andrew Gilbert and Keaton Brice, also with Holt Lunsford, represented the undisclosed landlord.
