STAMFORD, CONN. — Starwood Hotels & Resorts Worldwide has signed a 20-year lease renewal and expansion for 430,000 square feet of office space at One StarPoint at Harbor Point in Stamford. The company will continue to use the space as its global headquarters. Starwood currently occupies 300,000 square feet at the property and under the new lease will be able to expand into additional space as it becomes available. Constructed in 1989 and renovated in 2011, One StarPoint is a two-tower, 430,000-square-foot Class A office complex. Building and Land Technology is the owner and developer of Harbor Point, the mixed-use waterfront development where One StarPoint is located.
Office
NEW YORK CITY — Mission Capital Advisors’ Debt & Finance Group has arranged $10 million in first-mortgage financing for Northwind Group. The borrower used the loan to finance the $16 million acquisition of 40 Wooster Street. The six-story office building is located in Manhattan’s SoHo neighborhood. Jonathan More, Steven Buchwald and Jamie Matheny of Mission Capital secured the non-resource loan on behalf of the borrower.
HOUSTON — Panattoni Development Co. has broken ground on a 135,000-square-foot speculative office building at its Beltway 8 Corporate Centre complex in northwest Houston. The Class A structure will feature a two-story lobby. Beltway 8 Corporate Centre, located on Beltway 8 just north of Clay Road, currently consists of eight buildings that are more than 99 percent occupied. Arch-Con is the design-builder on the new project, while Powers Brown provides further project design services.
AUSTIN, TEXAS — Developer Long View Equity Partners Ltd. has completed a new two-building, 24,000-square-foot office complex in Austin. Located near the Cedar Park Regional Medical Center, the facilities offer space to professional and medical office tenants in floorplates as small as 1,250 square feet. Brian Novy of The Brian Novy Co. is handling leasing for the property. Locally based Cornerstone Architects designed the complex, and Sun Builders Co. of Houston served as general contractor.
DALLAS — Fults Commercial Real Estate has arranged a 21,000-square-foot office lease in Dallas for Medigain LLC, a provider of billing and analytics services for healthcare providers. The tenant will occupy space within the Willow Bend Park complex in the Far North Dallas submarket. Bob Buell, Tracy Fults and Gini Russell of Fults Commercial represented the unnamed property owner. Kurt North of Mohr Partners represented Medigain.
SAN FRANCISCO – Chinese developer Kylli Inc. has acquired the 583,000-square-foot office building at 225 Bush Street in San Francisco’s Central Business District. This is the largest office sale in San Francisco since 2012, according to Flynn Properties and GEM Realty Capital, two of the building’s owners. The Class A building was originally the headquarters for Standard Oil when it was built in 1922. The 22-story tower is currently 99 percent leased. Notable tenants include Lithium Technologies, Groupon, Zillow, Twitch.tv, Meltwater and RocketSpace. Flynn and GEM originally purchased the building in 2000. The joint venture owned the building with partner Whitehall-Goldman Sachs until 2005. In 2012, the JV partnered with SEB ImmoInvest on the building. GEM and SEB sold their entire stakes in 225 Bush Street as part of the sales transaction. Flynn will remain as an investor in the new joint venture. It will also act as the property manager and leasing agent for 225 Bush Street. JLL identified Kylli as Flynn’s new joint venture partner. The firm also provided support on this cross-border transaction.
MIDDLETON, WIS. — Sperry Van Ness has arranged the lease of 3,605 square feet of office space in Middleton, a northwestern suburb of Madison. Michigan Millers Mutual, an insurance company, will occupy space at 3220 Deming Way. Founded in 1881, Michigan Millers Mutual offers a wide range of property and casualty insurance products for individuals, small and mid-size businesses. Jeff Jansen and Anita Frey of Sperry Van Ness represented the tenant in the transaction. The Blettner Group Ltd. is the landlord.
BOSTON — Integrated Interiors has completed an office installation for Gilbane Building Company’s new headquarters at 10 Channel Center in Boston’s Innovation District. The renovation includes 390 linear feet of prefabricated office and conference fronts for the new 22,000-square-foot space. The project team includes Gilbane as owner and construction manager, Gensler as architect, and Cosentini as M/E/P engineer. Additionally, Environments at Work provided furniture for the new space.
IRVING, TEXAS — Bright Realty has brokered the sale of a 19,038-square-foot flex property in Irving. Located on a 1.5-acre lot at 1915 Westridge Drive, the property includes both office and showroom space. Shawn Hall of Bright Realty represented the buyer, Ibrahim Investments, in the transaction. David Cook of Sperry Van Ness represented the unnamed seller.
LONG BEACH, CALIF. – A creative flex/office building in Long Beach that formerly housed a division of Charter Communications has sold to Lotus Real Estate Partners for $6.1 million. The building is located at 4031 Via Oro. It was built in 1985 and will undergo a complete renovation. The property features 73,000 square feet of office space and 10,000 square feet of warehouse space. Lotus was represented by Clyde Stauff of Colliers. Charter Communications was represented by DTZ’s Scott Becket.