Saturday, June 14, 2025
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IllinoisLeasing ActivityMidwestOffice

AmTrust RE Secures Two Lease Renewals Totaling 20,000 SF at Chicago Office Tower

by Kristin Harlow

CHICAGO — AmTrust RE has secured two lease renewals totaling more than 20,000 square feet at its 33 North Dearborn office property in Chicago. The building totals 330,000 square feet. Regional law firm Heyl, Royster, Voelker & Allen PC renewed its lease for 13,383 square feet. KIPP Foundation, a nonprofit that trains and develops educators to lead KIPP schools, signed a lease for its 6,617-square-foot office. David Knight, Ethan Braham and Luke Wuchenich of Advocate Commercial Real Estate Advisors represented both tenants. In September 2023, AmTrust unveiled plans for a $50 million capital improvements programs at two of its Chicago properties, including 33 North Dearborn. Construction is underway, and the initiative marks the initial stage of the company’s $100 million commitment to upgrading its Chicago portfolio.

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KansasLeasing ActivityMidwestOffice

Heartland Soccer Moves Corporate Office to Aspiria Campus in Overland Park, Kansas

by Kristin Harlow

OVERLAND PARK, KAN. — The Heartland Soccer Association, a nonprofit that supports the development of youth soccer players in metro Kansas City, has moved its corporate office to the Aspiria campus in Overland Park. The move took place in November. Heartland Soccer hosts more than 3,450 league teams annually and 14 tournaments each year that attract more than 3,700 teams from 16 states. Established in 1977, the organization has 74,000 youth soccer players, 4,000 coaches and 2,000 referees. Wichita-based Occidental Management owns and manages Aspiria, which is the redevelopment of the former Sprint campus.

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DevelopmentOfficeSoutheastTennessee

Equitas Management Completes Renovation of 57,000 SF Office Building in Chattanooga, Tennessee

by John Nelson

CHATTANOOGA, TENN. — Equitas Management Group has completed renovations for One Park Place, a 57,000-square-foot office building located at 6148 Lee Highway in Chattanooga. The property is fully leased to tenants including Equitas Management and EMJ, a general contractor that oversaw the renovations as well as constructed the building originally in 1984. Other tenants include medical, legal and financial services tenants, among others. Designed by HK Architects, the renovations include a new sleek black exterior, updated atrium, modernized offices and conference spaces and a grand balcony.

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AcquisitionsGeorgiaOfficeSoutheast

Marcus & Millichap Negotiates $14.5M Sale of Vacant Office Building in Alpharetta, Georgia

by John Nelson

ALPHARETTA, GA. — Marcus & Millichap has negotiated the $14.5 million sale of Woodside Terrace, a four-story office building located at 3755 Mansell Road in Alpharetta, a northern suburb of Atlanta. The vacant property spans 123,982 square feet and is situated on a 9.9-acre site. Bob Johnson and Paul Johnson of Marcus & Millichap’s Atlanta office represented the seller, Ravi Zacharias International Ministries (RZIM), in the transaction. The buyer is Free Chapel Worship Center. The office building features an onsite café, fitness center, lakeside patio area and a fully operational TV and recording studio. Marcus & Millichap also represented RZIM when the company purchased the asset in 2016.

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CITYCENTRE-Six-Houston
DevelopmentOfficeTexas

Midway Unveils Plans for 320,000 SF Office Building at CITYCENTRE in West Houston

by Taylor Williams

HOUSTON — Midway has unveiled plans for a 320,000-square-foot office building within the locally based developer’s CITYCENTRE mixed-use destination in West Houston. The 19-story building, which will be known as CITYCENTRE Six, will sit on a nine-story podium parking structure and include 12,000 square feet of retail and restaurant space. Midway has also secured an undisclosed anchor tenant to occupy 65 percent of the office space. The design team includes architect of record Kirksey, Munoz + Albin Architecture & Planning and OJB Landscape Architecture. Construction is scheduled to begin in the second quarter and to be complete in 2026.

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DevelopmentLeasing ActivityNew YorkNortheastOffice

Signature Acquisitions Launches Renovation, Secures Two Renewals at Office Building in Tarrytown, New York

by Taylor Williams

TARRYTOWN, N.Y. — Signature Acquisitions has launched a renovation of the lobby, cafeteria and other common areas at Tarrytown Corporate Center, a 180,000-square-foot office building located on the northern outskirts of New York City.The regional owner-operator has also secured two lease renewals at the building: a 20,538-square-foot deal with coworking firm Regus and a 7,581-square-foot deal with office technology and IT firm Atlantic Tomorrow. Jeff Smith internally represented Signature Acquisitions in both sets of lease negotiations. Peter Dana, Jason Lee and Craig Ruof of Colliers represented Regus, and Harland Hollander of Savills represented Atlantic Tomorrow. Ownership has tapped JLL to lease the building following the completion of the capital improvement program.

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AcquisitionsMichiganMidwestMinnesotaOffice

Net Lease Office Properties Sells Four Office Assets Across Three States for $43.1M

by Kristin Harlow

MICHIGAN, MINNESOTA AND ARIZONA — Net Lease Office Properties (NYSE: NLOP) has sold four office assets across three states for gross proceeds totaling approximately $43.1 million. The properties included: a 143,650-square-foot building in Tucson, Ariz., primarily leased to Raytheon Corp.; a 58,722-square-foot asset in Dearborn, Mich., that is home to Carhartt Inc.; a 70,000-square-foot building in Plymouth, Mich., that is primarily leased to AVL Michigan Holding Corp.; and a 29,916-square-foot property leased to BCBSM Inc. in Eagan, Minn. Net proceeds after closing costs, together with funds from other sources, were used to repay approximately $46 million on J.P. Morgan’s senior secured mortgage and approximately $6 million on its mezzanine loan. Subsequent to the dispositions, NLOP owned 55 office properties, 50 of which are in the U.S. and five in Europe.

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Leasing ActivityNortheastOfficePennsylvania

Excelitas Technologies Signs 45,000 SF Office Headquarters Lease in Pittsburgh

by Taylor Williams

PITTSBURGH — Excelitas Technologies Corp., a provider of photonics products for the medical, defense and automotive industries, has signed a 45,000-square-foot office lease in Pittsburgh’s Strip District for its new headquarters. The company, which is relocating from metro Boston, plans to invest $2.3 million in the build-out and take occupancy this summer. Dan Adamski and Dennis Davin of JLL represented Excelitas Technologies in the lease negotiations. The name and representative of the landlord were not disclosed.

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5245-Pacific-Concourse-Dr-Los-Angeles-CA
CaliforniaDevelopmentLoansOfficeWestern

Gantry Arranges $28.5M Loan for Office Redevelopment in Los Angeles

by Amy Works

LOS ANGELES — Gantry has arranged a $28.5 million construction-to-permanent loan for the redevelopment of an existing office building located at 5245 Pacific Concourse Drive in Los Angeles. The 66,000-square-foot property is 100 percent pre-leased to the U.S. General Services Administration as a new facility for the Executive Office of Immigration Review, a subsidiary agency of the U.S. Department of Justice. Mark Ritchie, Amit Tyagi and Alicia Sabanero of Gantry’s Los Angeles office represented the borrower, a private real estate company. One of Gantry’s correspondent life company lenders provided the multi-decade loan, which features a long-term fixed interest rate.

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Leasing ActivityNew YorkNortheastOffice

Paul Taylor Dance Signs 31,000 SF Office Lease in Midtown Manhattan

by Taylor Williams

NEW YORK CITY — The Paul Taylor Dance Co. has signed a 31,000-square-foot office lease at 307 West 38th Street in Midtown Manhattan. The company will relocate and expand from a 13,000-square-foot space at 551 Grand St. to the entire ninth and 10th floors of the 21-story building in early 2025. Jeffrey Rosenblatt of Lincoln Property Co. represented the tenant in the lease negotiations. Peter Duncan, Matthew Coudert and Alexander Bermingham represented the landlord, George Comfort & Sons, on an internal basis.

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