NEW YORK CITY — IMA New York, a division of insurance brokerage firm IMA Financial Group, has signed a 10,000-square-foot office lease at 1155 Avenue of the Americas in Midtown Manhattan. The lease term is 10 years. The tenant will occupy space on the 33rd floor of the 42-story building. Howard Hersch and Brett Harvey of JLL represented the tenant in the lease negotiations. Tom Bow, Rocco Romeo and Nora Caliban internally represented the landlord, The Durst Organization, which recently completed a $130 million capital improvement program at the property.
HOUSTON — Locally based brokerage firm Fritsche Anderson Realty Partners has negotiated the sale of an 84,000-square-foot office building that sits on a 4.8-acre site at 509 N. Sam Houston Parkway E in North Houston. According to LoopNet, the building rises six stories and was originally constructed in 1984 and renovated in 2021. Brandon Wuntch, Drew Altmann and Jim McGonigle of Fritsche Anderson represented the undisclosed buyer in the transaction. The seller and sales price were also not disclosed.
BUFFALO, N.Y. — Locally based financial intermediary Largo Capital has arranged an $11.1 million first mortgage loan for the refinancing of a 150,000-square-foot office building in Buffalo. Jack Phillips of Largo Capital arranged the financing on behalf of the undisclosed buyer. The direct lender was not disclosed. The building was fully leased at the time of the loan closing.
ORLANDO, FLA. — A joint venture between SED Development LLC, JMA Ventures LLC and Machete Group Inc. has released new plans and renderings for a mixed-use destination in downtown Orlando. The development, dubbed the Orlando Sports + Entertainment District, will span 8.5 acres adjacent to Amway Center, the home arena for the NBA’s Orlando Magic. The Orlando Sentinel reports the project will cost roughly $500 million to develop. The 900,000-square-foot destination will include a 260-room hotel with an outdoor lounge and pool deck, as well as meeting space and a chef-driven restaurant. Other components will include a 270-unit high-rise apartment tower, 200,000 square feet of Class A offices that are 30 percent preleased, 1.5 acres of central green space, 100,000 square feet of shops and restaurants and a 3,500-seat live music venue that can double as an events space with the capacity to host up to 1,000 guests. The construction timeline for Orlando Sports + Entertainment District was not released.
NEW YORK CITY — Beechhurst Executive Suites has renewed its lease for 6,936 square feet on the second floor of Whitestone Plaza, a 62,000-square-foot urban community shopping center located on the north side of Queens. Randall Briskin represented the landlord, The Feil Organization, in the lease negotiations on an internal basis. The tenant was self-represented. Other tenants at Whitestone Plaza include CVS and North Shore Farms supermarket.
NEW YORK CITY — Law firm Meltzer, Lippe, Goldstein & Breitstone LLP signed a 5,835-square-foot office lease expansion at 70 E. 55th St. in Midtown Manhattan. The lease term is 10.5 years. The 27-story, 154,000-square-foot building is known as Heron Tower and was originally constructed in 1985. Diana Biasotti, Kristen Morgan and Thomas Swartz of JLL represented the landlord in the lease negotiations. Nicholas Markel of Cresa represented the tenant.
HENDERSON, NEV. — SRS Real Estate Partners has arranged the sale-leaseback of a single-tenant office building at 160 N. Stephanie St. in Henderson. A California-based private investor acquired the asset from Green Valley Grocery for $13.1 million. Chuck Klein of SRS Capital Markets represented the seller, while Brian Riffel of Colliers represented the buyer in the deal. Built in 2001, the 33,764-square-foot property is undergoing renovation for Green Valley Grocery’s corporate headquarters. The first Green Valley Grocery opened in 1978 and the company has grown to 80 locations to date, with projected growth to 100 locations by 2025.
EL SEGUNDO, CALIF. — Gantry has arranged $15.3 million in permanent financing for a single-tenant office building located at 601 Hawaii St. in El Segundo, a suburb of Los Angeles. Mark Ritchie, Amit Tygai and Alicia Sabanero of Gantry secured the financing on behalf of the borrower, a private real estate investor. A conduit lender provided the five-year, fixed-rate loan, which features interest-only payments for the life of the loan. Healthcare provider DaVita occupies the 51,000-square-foot property as its regional headquarters and national training facility. The asset features extensive tenant improvements, including an energy management system that generates 75 percent of energy used on site.
NEW YORK CITY — Canela Media, a provider of Spanish language content, has signed an 8,066-square-foot office lease renewal and expansion at 370 Lexington Avenue in Midtown Manhattan. Canela Media has occupied 4,924 square feet at the 26-story building since 2021 and is now taking additional space on the 15th floor. Brett Maslin and Jack Tobin of Adams & Co. represented the tenant in the lease negotiations. Gayle Kennedy and Olivia Schrantz of Broad Street Development represented the undisclosed landlord.
CHICAGO — Lactalis Heritage Dairy has expanded its office lease at 540 W. Madison St. in Chicago’s West Loop by an additional 13,000 square feet. The company, which manufactures and markets brands such as Kraft Natural Cheese, Knudsen, Breakstone’s and Cracker Barrel, now occupies 48,000 square feet at the building. Lactalis Heritage Dairy is part of Lactalis USA, which is under Lactalis Group, the world’s largest dairy company that is headquartered in France. By January 2024, the Chicago office of Lactalis expects to house 230 positions, representing more than 280 percent growth in positions since the office opened in late 2021. Lactalis is working with Savills on the lease agreement and office expansion.