OMAHA, NEB. — Colliers Nebraska has negotiated a 12,598-square-foot office lease at Farnam Executive Center in Omaha. Adam Marek of Colliers represented the tenant, a national law firm focused on assisting government agencies with improving service delivery. Chris Mensinger, Justin Spooner and Lizzie Mensinger of Colliers represented the landlord, White Lotus Group. Recently purchased by White Lotus Group, Farnam Executive Center rises four stories and totals 92,242 square feet.
HOUSTON — US Med-Equip has signed a 34,000-square-foot office lease in West Houston. According to LoopNet Inc., the building at 4920 Westway Park Blvd., which is part of the Corporate Centre development, was constructed in 2007 and totals 131,908 square feet. Scott Fikes, Matt Pruitt and Christian Canion of JLL represented the landlord, Agellan Commercial REIT, in the lease negotiations. Cory Sleeth from NAI Global and John Ferruzzo from Transwestern represented the tenant.
HOUSTON — CBRE has negotiated a 52,120-square-foot office headquarters lease at Westway II, a 10-story building located near Houston’s Energy Corridor area. Abby Alford and Lucian Bukowski of CBRE represented the tenant, Texas-based consulting firm Cobb, Fendley & Associates, in the lease negotiations. Chip Colvill of Cushman & Wakefield represented the undisclosed landlord. The lease term is 10 years. Kirksey designed the space, which spans two floors, and Arch-Con Corp. handled the build-out.
NEW YORK CITY — Cushman & Wakefield has negotiated a 6,780-square-foot office lease at 600 Lexington Avenue in Manhattan’s Plaza District. The tenant, private equity funds manager Hollyport Capital, will occupy the entire 27th floor of the 36-story, 305,472-square-foot building. Harry Blair, Connor Daugstrup and Bianca DiMauro of Cushman & Wakefield represented the landlord, Lex NY Equities LLC, in the lease negotiations. Tim Gibson and Harry Singer of Newmark represented the tenant.
QUEEN CREEK, ARIZ. — Cypress West Partners has completed the construction of Ocotillo Medical Collaborative, a $10 million medical office building located at 223663 E. Domingo Road in Queen Creek. The 22,000-square-foot building is fully occupied by five tenants, including Action Behavior Centers, a leading applied behavior analysis therapy for autism provider in the area. According to Cypress West Partners, the building is the first off-campus, for-lease medical office building to come to market in Queen Creek. Prior to this development, Queen Creek’s only existing medical office buildings were two on-campus properties occupied by a health system.
CHICAGO — Salesforce Tower Chicago, a 60-story office building featuring software provider Salesforce Inc. as the anchor tenant, has opened in the Windy City. The 1.2 million-square-foot tower is situated along the Chicago River and is part of Wolf Point, a three-phase development designed by Pelli Clarke Pelli. Hines developed Wolf Point in partnership with the longtime landowner, the Joseph P. Kennedy Family. As a result of the rise of remote work during the pandemic, Salesforce has reduced its footprint in the building from 500,000 square feet to 360,000 square feet, according to Crain’s Chicago Business. The remaining 140,000 square feet of space is empty and available for sublease. Salesforce consolidated its local employees into the building from four offices downtown and one in suburban Naperville, according to Crain’s. The company’s lease runs through May 2040. Salesforce Tower Chicago features focus spaces like libraries and focus pods, as well as areas for team collaboration and connection such as event spaces and communal kitchens. Throughout the workspaces are a mix of mindfulness rooms, pods of height-adjustable desks, and meeting and training rooms. Salesforce doubled the size of the social lounges on its employee floors and added more conference rooms equipped with …
DALLAS — Locally based commercial real estate services firm Morrow Hill has signed a 17,501-square-foot office lease expansion in North Dallas. According to LoopNet Inc., the five-story building at 14800 Quorum Drive was constructed in 1980 and totals 106,600 square feet. Chris Morrow of Morrow Hill internally represented the tenant in the lease negotiations. Adam Toth represented the landlord, Boxer Property Group, also on an internal basis.
NEW YORK CITY — The New York City Department of Health & Hygiene has signed a 17,708-square-foot office lease in Brooklyn. The agency is relocating from 16 Court St. to the entire fifth floor of the building at 532 Fulton St., which is known locally as The Paxton. Brad Gerla, Jon Cope and David Katz of CBRE represented the landlord, Jenel Management Corp., in the lease negotiations. Ellen Israel of JRT Realty Group and Bob Giglio of Cushman & Wakefield represented the tenant.
SANTA ANA, CALIF. — A private seller has completed the disposition of 3 Hutton Centre Drive, an office building in Santa Ana. A high-net-worth investor acquired the asset for an undisclosed price in an all-cash transaction. Situated on 2.47 acres within a 46-acre, master-planned, mixed-use community, 3 Hutton Centre features 200,443 square feet of office space. Built in 1985, the building underwent $3.5 million in capital and tenant improvements in 2018. Property amenities include a state-of-the-art fitness center on the penthouse level. At the time of acquisition, the property was 62.2 percent occupied by seven tenants. Anthony DeLorenzo, Sammy Cemo, Bryan Johnson, Matt Pourcho and Nick Williams of CBRE handled the transaction.
FULLERTON, CALIF. — PSRS has arranged $11 million in refinancing for a Sunny Hills Business Park in the Orange County city of Fullerton. Built in 1981, Sunny Hills is a large industrial/flex and office building park comprising nine one- and two-story buildings, totaling 176,475 rentable square feet. Sixty-seven percent of the gross leaseable area is industrial/flex space and the remaining 33 percent is office space. Situated on 10.3 acres, the park offers signalized access to Imperial Highway. Kostas Kavayiotidis and Matthew Farzinpour PSRS arranged the nonrecourse, 10-year loan with a 30-year amortization schedule. One of PSRS’ correspondent life insurance companies provided the capital.
