Friday, January 23, 2026
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1111-Sixth-Ave-San-Diego-CA
AcquisitionsCaliforniaMixed-UseOfficeWestern

Coworking Company Sells 70,602 SF Mixed-Use Building in San Diego for $7.8M

by Amy Works

SAN DIEGO — Marcus & Millichap has arranged the sale of The Arte Building, a mixed-use property in San Diego. Salwan Komo acquired the property from 1111 6th Ave LLC for $7.8 million. The seller operated its coworking business, Expansive, at the 70,602-square-foot building. At the time of sale, Expansive leased back approximately 35,000 square feet, resulting in the property being 80 percent occupied. Ross Sanchez and Nick Totah of Marcus & Millichap’s San Diego downtown office represented the seller and procured the buyer in the transaction. Located at 1111 Sixth Ave., The Arte Building was built in 1913 and extensively renovated in 2017. Amenities at the property include subterranean parking, a rooftop lounge, indoor lounge areas, conference rooms, phone booths and a game room.

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AcquisitionsFloridaOfficeSoutheast

Cushman & Wakefield Brokers $19.2M Sale of Greystone at Town Center Office Park in Jacksonville

by John Nelson

JACKSONVILLE, FLA. — Cushman & Wakefield has brokered the $19.2 million sale of Greystone at Town Center, an office park located at 10550 Deerwood Park Blvd. in Jacksonville. Developed in 1999, the property totals 212,240 square feet across five buildings. Woodside Capital Partners acquired the development. Karl Johnston and Traci Jenks of Cushman & Wakefield represented the undisclosed seller in the transaction.

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101-Yesler-Way-Seattle-WA
AcquisitionsOfficeWashingtonWestern

BH Properties Buys 74,660 SF Olympic Block Office Building in Seattle’s Pioneer Square

by Amy Works

SEATTLE — BH Properties has acquired the historic Olympic Block building, a creative office and mixed-use property in Seattle’s Pioneer Square neighborhood. Terms of the transaction were not released. BH Properties’ Pacific Northwest regional operations will move into the 74,660-square-foot building at 101 Yesler Way. Olympic Block comprises the historic six-story Lippy Building, originally built in 1902, and the nine-story addition that was added in 1986.

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Leasing ActivityOfficeTexas

ECI Software Solutions Signs 25,468 SF Office Lease in Westlake, Texas

by Taylor Williams

WESTLAKE, TEXAS — ECI Software Solutions has signed a 25,468-square-foot office lease in the North Texas city of Westlake The space is located within The Terraces, an eight-building, 1.1 million-square-foot development that was originally constructed as a campus for IBM and underwent a $25 million repositioning in 2021. Jeff Eckert of JLL represented the landlord, Chicago-based Glenstar, in the lease negotiations. Stephen Rury of Colliers represented the tenant.

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DevelopmentLife SciencesMassachusettsNortheastOffice

Columbia Construction, Margulies Perruzzi Complete 20,000 SF Office, Life Sciences Project in Boston

by Taylor Williams

BOSTON — General contractor Columbia Construction and locally based design firm Margulies Perruzzi Architects have completed a 20,000-square-foot office and life sciences project in Boston. The space serves as an innovation and workplace training center for biotechnology firm Boston Scientific Corp. and includes procedure rooms for simulated surgeries, conference rooms with movable walls, an auditorium and amenity spaces. R.W. Sullivan handled engineering services for the project.

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LoansNew YorkNortheastOfficeTop Stories

L&L Holding Receives $911M Refinancing for 425 Park Avenue Office Tower in Midtown Manhattan

by Jeff Shaw

NEW YORK CITY — L&L Holding Co. has received a $911 million loan for the refinancing of 425 Park Avenue, a 47-story office tower located in the Plaza District of Midtown Manhattan.  Sumitomo Mitsui Trust Bank was the lead lender and administrative agent on the five-year, floating-rate loan. The proceeds will be used to pay off a 2021 loan of the same size, which was used to fund final construction and leasing efforts at the tower, which opened in 2022. L&L Holding, along with co-developer Tokyu Land US Corp. and co-managing partner BGO, broke ground on the project in 2016. Foster + Partners designed the asset, which was built to LEED and WELL Core Gold sustainability standards, thanks to energy-efficient mechanical and ventilation systems. 425 Park Avenue totals 670,000 square feet and is currently 90 percent leased, primarily to finance and investment firms. The building’s anchor tenant is Citadel, a multinational hedge fund and financial services company. The company occupies 440,000 square feet across 22 floors. A space near the top of the tower is reserved for an amenity center dubbed The Diagrid Club. The center features outdoor spaces, an art installation by contemporary artist Yayoi Kusama and private rooms for …

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KentuckyLeasing ActivityOfficeSoutheast

CBRE Opens New 8,600 SF Office in Louisville

by John Nelson

LOUISVILLE, KY. — CBRE has opened its new 8,600-square-foot office on the fifth floor of Ormsby III, an office building located at 10200 Forest Green Blvd. in Louisville. The firm is relocating from One Paragon Centre at 6060 Dutchmans Lane. The new office is part of CBRE’s Workplace 360 program and showcases spaces that are designed to accommodate hybrid working, thus no desks are assigned. Teams are assigned to various neighborhood work areas where CBRE team members can work in any unoccupied space. The office has several different work areas including focus, huddle and conference rooms, as well as a library space with banquette seating. There is also a wellness room and an open-space lobby known as The Heart that features a large communal table, a digital media display with speakers near the entrance and a café for employees and guests. CBRE Design Collective designed the new Louisville office, which also features nods to the city’s history with Louisville Slugger bats decorating the conference room and aesthetic nods to the bourbon industry.

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Highlands-at-Thornton-CO
ColoradoDevelopmentHealthcareMixed-UseOfficeRetailWestern

TM Crowley, NLGCM Plan 23-Acre The Highlands at Thornton Mixed-Use Project in Colorado

by Amy Works

THORNTON, COLO. — Indianapolis-based TM Crowley & Associates has partnered with Atlanta-based NLG Capital Management (NLGCM), a division of The Net Lease Group, to develop The Highlands at Thornton, a mixed-use property at the northeast intersection of Quebec Street and 136th Avenue in Thornton. Situated on 23 acres, the project will offer more than 101,925 square feet of retail, commercial and medical office space. CVS Caremark will anchor the development. Lisa Vela and Jay Landt of Colliers will handle leasing efforts for the project.

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AcquisitionsMidwestMissouriOfficeRetail

AXSYS Capital Sells Office, Retail Property in Des Peres, Missouri, for $3.4M

by Kristin Harlow

DES PERES, MO. — AXSYS Capital has sold a 17,190-square-foot office and retail property in Des Peres, a western suburb of St. Louis, for $3.4 million. Built in 1986, the two-story building is located at 11780 Manchester Road. John Shuff of Pace Properties and Ted Green of Avison Young represented the buyer, CommunityAmerica Credit Union (CACU). Mark Dorsey of Avison Young, along with Luke Grant and Jason Riegelsberger of Skyline Missouri Realty, represented the seller, Des Peres Plaza Partners LLC on behalf of AXSYS Capital. The seller had purchased the asset in late 2016 for $2.1 million with a cap rate of approximately 8 percent financed by Carrollton Bank. CACU is evaluating plans to redevelop the property for a new CACU location, according to the seller.

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LoansNew YorkNortheastOffice

Williams Equities Receives $155M CMBS Loan for Refinancing of Manhattan Mixed-Use Property

by Taylor Williams

NEW YORK CITY — Locally based investment firm Williams Equities has received a $155 million CMBS loan for the refinancing of 28-40 West 23rd Street, a 578,105-square-foot mixed-use property in Manhattan. The two-building complex, which originally housed the Ladies Mile department store, is located between Fifth and Sixth avenues in the Flatiron District. Home Depot serves as the property’s longtime retail anchor tenant and recently signed a renewal. Office tenants include digital credit card company Ramp and Estee Lauder brand Aramis. Citi Real Estate Funding provided the five-year loan, and Williams Equities will use a portion of the proceeds to fund capital improvements.

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