Office

How Milwaukee’s Hottest Downtown Buildings Continue to Drive Leasing Activity

by Kristin Harlow November 16, 2023

By David Pudlosky and Patrick Savoie, JLL Milwaukee remains a strong office market with leasing activity showing no sign of slowing. Post-pandemic, companies took a fresh look at their workplace strategies to adjust to hybrid working environments, and many rightsized their overall square footage while adding significant amenities and attractions that provide a rewarding office experience for returning workers. Despite a smaller footprint, tenants are seeking updated, highly amenitized spaces in Class A buildings. While amenities have always been a focus for landlords, the buildings that stand out today are the ones that focus on quality amenities over quantity. For example, today’s tenant will likely not be as interested in a building lounge unless it has comfortable seating, a café, strong Wi-Fi and more. To be relevant to tenants, amenities must be high end and culture focused. We’ve seen companies like Milwaukee Tool, Fiserv, Komatsu Mining Corp. and Northwestern Mutual invest in their downtown office spaces and make commitments to bring more employees downtown, and we expect this trend to continue. Building owners can learn from what Class A building landlords are doing to drive leasing activity, and learn how investing in quality, amenity-driven spaces will likely bring in new …

November 16, 2023

Development Illinois Midwest Office Top Stories

Fulton Street, SNK Capital Break Ground on 409,000 SF Office Development in Chicago’s Fulton Market

by Katie Sloan November 16, 2023

CHICAGO — A joint venture between Fulton Street Cos. and SNK Capital has broken ground on 919 W Fulton Street, a high-rise office development in Chicago’s Fulton Market neighborhood. The development, which will span 409,000 square feet at 919 W. Fulton St., is Chicago’s first major new office development to commence construction in over a year, according to the joint venture. The 11-story building will feature floor-to-ceiling windows; outdoor terraces on all sides; a rooftop lounge and bar; several co-working and conference spaces; and a fitness center. Chicago-based real estate investor Harrison Street Real Estate Capital has signed on to occupy 170,000 square feet at the property, which will also feature a ground-floor restaurant by the locally based Gibsons Restaurant Group. The development will also include a 65-stall parking deck on the building’s lower level, which will be connected to an existing lower-level parking structure at 210 N. Peoria St. The project is scheduled for completion in 2025 and will pursue WELL and LEED Silver certifications. Bank of the Ozarks and Manulife provided financial backing for the property. The development team includes JDL Development, Skender, FitzGerald Associates Architects, Morris Adjimi Architects, Thornton Tomasetti, Eriksson, Syska Hennessy Group and site design group …

November 16, 2023

Development Industrial North Carolina Office Southeast

Swinerton to Construct $21M Build-to-Suit Flex Facility in Metro Raleigh

by John Nelson November 15, 2023

RALEIGH, N.C. — Swinerton will serve as the design coordinator and general contractor for a $21 million build-to-suit office and industrial facility south of Raleigh. The location of the 75,000-square-foot development and name of the tenant, a Fortune 150 electrical utilities provider, were not disclosed. Set to open on a 33-acre site in spring 2025, the project will comprise a 45,000-square-foot, single-story mobile substation storage facility and a 30,000-square-foot command center that will feature eight office spaces and four large collaboration areas.

November 15, 2023

Alabama Leasing Activity Office Southeast

Beach Co. Signs Tech Firm to Office Lease at The Range in Huntsville, Alabama

by John Nelson November 14, 2023

HUNTSVILLE, ALA. — The Beach Co. has signed Arrow Electronics, a tech services provider, to an office lease at The Range, a new 49,229-square-foot office building along Governors Drive in Huntsville. The Range is connected via a new pedestrian sidewalk to Beach Co.’s sister property The Foundry, a new 342-unit multifamily development, and Stovehouse, a property with food-and-beverage options, offices and event space. Arrow Electronics will occupy the remaining space on The Range’s ground floor. Crunkleton Commercial Real Estate Group managed the leasing efforts. The Range has one 10,000-square-foot availability on the second floor, according to Beach Co.

November 14, 2023

Industrial Leasing Activity Office Texas

H20 Innovation Signs 24,500 SF Industrial Flex Lease in North Houston

by Taylor Williams November 14, 2023

HOUSTON — Canadian water treatment firm H20 Innovation has signed a 24,500-square-foot industrial flex lease in Houston. The company will relocate to Building 1 at Old Town Spring Business Park, a 196,000-square-foot development located on the city’s north side, later this month. Nathan Donahue of Transwestern represented the tenant in the lease negotiations. Todd Jurek of Keen Realty Group represented the undisclosed landlord.

November 14, 2023

Acquisitions Illinois Midwest Office

Marcus & Millichap Arranges $5M Sale of Office Property in Palatine, Illinois

by Kristin Harlow November 14, 2023

PALATINE, ILL. — Marcus & Millichap has arranged the $5 million sale of Palatine Center, a 46,095-square-foot office property in the Chicago suburb of Palatine. Located at 865-909 E. Wilmette Road, the three-building property was fully leased at the time of sale to five tenants. Roughly 85 percent of the tenants have occupied the building for 17 to 27 years. A specialized school occupies 69.6 percent of the space. Tammy Saia and Tami Andrew of Marcus & Millichap represented the seller, a private investor. The duo also secured the buyer, a Texas-based limited liability company.

November 14, 2023

Leasing Activity Office Texas

Fay Servicing Inks 47,951 SF Office Lease in Farmers Branch, Texas

by Taylor Williams November 13, 2023

FARMERS BRANCH, TEXAS — Fay Servicing Inc. has inked a 47,951-square-foot office lease in the northern Dallas metro of Farmers Branch. The provider of online financial management tools is taking space at Browning Place I, which was built in 1981 and totals 182,739 square feet, according to commercialcafé.com. Frank Puskarich and Louis Pascuzzi of Newmark represented the tenant in the lease negotiations. Duane Henley of Transwestern represented the landlord, an entity doing business as TCI Park West I Inc.

November 13, 2023

Leasing Activity Office Texas

Stephens Insurance Signs 35,454 SF Office Lease Renewal, Expansion in Houston

by Taylor Williams November 13, 2023

HOUSTON — Stephens Insurance has signed a 35,454-square-foot office lease renewal and expansion at Nine Greenway Plaza, a 31-story building located about five miles southwest of downtown Houston. Don King and Anya Marmuscak of JLL represented Stephens Insurance, which is taking an additional 9,000 square feet, in the lease negotiations. J.P. Hutcheson and Amanda Nebel represented the landlord, Parkway Properties, on an internal basis.

November 13, 2023

Leasing Activity New York Northeast Office

Eaglestone Signs 20,955 SF Office Lease in Midtown Manhattan

by Taylor Williams November 13, 2023

NEW YORK CITY — Eaglestone LLC, a holding company that supports mechanical, fire protection, plumbing and electrical contractors, has signed a 20,955-square-foot office lease in Midtown Manhattan. The lease term is 10 years. Eaglestone is taking space on the ninth floor of the historic Fred H. French Building, which is located at 551 Fifth Ave. and was originally constructed in 1927. Andrew Wiener and Randall Briskin represented the landlord, The Feil Organization, in the lease negotiations on an internal basis.

November 13, 2023

Illinois Leasing Activity Midwest Office

Spot Opens 31,000 SF Office in Chicago’s Marshall Field & Co. Building

by Kristin Harlow November 13, 2023

CHICAGO — Logistics company Spot has opened a 31,000-square-foot office at 24 E. Washington St., also known as the Marshall Field & Co. Building, in Chicago. The landmark property is home to Macy’s and the Tiffany Dome Ceiling. Spot, which previously occupied a temporary space within the building, now occupies the 11th floor of the building. Allen Rogoway, Michael Marrion and Tim O’Brien of Cresa represented Spot in the lease, while Jack O’Brien and Caroline Colnon of Telos represented ownership, Brookfield Properties. The project team for the office build-out included architect Lamar Johnson Collaborative, general contractor Bear Construction, furniture vendor Office Revolution and property manager JLL. Spot has more than 600 employees across its locations in Indianapolis, Charlotte, N.C., Tempe, Ariz., Tampa, Fla. and Chicago.

November 13, 2023

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