PRINCETON, N.J. — Cushman & Wakefield has negotiated a 53,000-square-foot office lease at Princeton Point, a two-building office complex located within the university’s 2,000-acre business and research campus. The property offers an onsite café/restaurant, conference center and a courtyard with outdoor private seating. Kevin Carton and Todd Elfand of Cushman & Wakefield represented the landlord, Nuveen Real Estate, in the lease negotiations. Shawn Straka, also with Cushman & Wakefield, represented the tenant, pharmaceutical company Dr. Reddy’s Laboratories.
NEW YORK CITY — New York Cares, a nonprofit organization that coordinates volunteer opportunities throughout the city, has signed an 8,280-square-foot office lease at 39 Broadway in Manhattan’s Financial District. The 447,400-square-foot building is also home to tenants such as Waterfront Commission of New York Harbor and Food Bank for New York City. Carri Lyon and Jenna Catalon of Cushman & Wakefield represented the tenant in the lease negotiations. Brian Siegel of The Lawrence Group represented the landlord, Cammeby’s Management Co. LLC.
HENDERSON, NEV. — A joint venture between Los Angeles-based Partners Capital Inc. and Las Vegas-based CNR Retail has purchased Green Valley Corporate Center South, an office complex located at 2500 and 2550 Paseo Verde Parkway in Henderson. JMA Ventures and Blue Vista Capital Management sold the asset for $17.2 million, or $188 per square foot. Tyler Ecklund, Marc Magliarditi, Travis Landes, Michael Hsu, Brad Peterson, Darren Lemmon and Justin Witt of CBRE represented the sellers, while Chris Clifford, Steve Neiger and Brett Rather of Colliers represented the buyers in the transaction. Built in 2000 and 2002, the two-building Green Valley Corporate Center South offers 91,742 square feet of Class A office space and is part of an eight-building office portfolio within the master-planned Green Valley corridor. At the time of sale, Green Valley Corporate Center South was 81.6 percent occupied. Current tenants include GK Properties Real Estate & Management, Thrive Aviation and Village Capital & Investment. The buyer plans to convert the existing single-story office buildings into a lifestyle center with a focus on crafted dining, retail, design, entertainment, health and wellness uses.
CHICAGO — Flack Global Metals (FGM) has signed a 6,000-square-foot office lease at 345 N. Morgan in Chicago’s Fulton Market. Owned and developed by Sterling Bay, the boutique office building is now more than 90 percent leased. FGM will be relocating its current office from 20 N. Clark St. and nearly doubling its square footage. The 11-story building is located just south of Metra’s Union Pacific West line and includes retail space on the ground floor. Sterling Bay began construction of the 200,000-square-foot property in August 2021, and completed it in September 2022. Amenities include private outdoor terraces, a top-floor bar and lounge, roof deck, fitness and wellness center, and conference rooms. Other tenants include HAVI Group, Wellington Management, Allsteel, Humanscale and JSI. Liz McCleary of CBRE represented FGM, while Austin Lusson and Daniella Hemsley represented Sterling Bay on an internal basis.
CHARLOTTE, N.C. — KBS has signed three tenants to leases totaling 49,135 square feet at Carillon, a 24-story office tower in Uptown Charlotte. The landlord has signed a 37,909-square-foot lease renewal with the U.S. General Services Administration (GSA), on behalf of the U.S. Attorney’s Office; an expansion with Lazard, a global financial services firm; and an 1,836-square-foot lease with Moffatt & Nichol Inc., a global infrastructure advisory firm that renewed its lease. Jennifer Kurz, Rhea Greene and Tim Arnold of Trinity Partners represented KBS in the lease transactions. Carillon shares a newly revamped courtyard with the Grand Bohemian Hotel next door. Common amenities include a conference center, onsite Bright Horizons childcare center, fitness center with showers, car wash and Morton’s Steakhouse.
BRYAN, TEXAS — Texas-based brokerage firm Oldham Goodwin Group has arranged the sale of a 90,000-square-foot office building in the Central Texas city of Bryan. The buyer, Capital Farm Credit, will also occupy the building via a late 2024 relocation from its current headquarters facility in nearby College Station. Clint Oldham of Oldham Goodwin represented Capital Farm Credit in its purchase of the building from Arizona-based Levine Investments. Jody Slaughter of Oldham Goodwin also arranged an early lease termination with the existing tenant, California-based telecommunications firm Viasat Inc.
PRINCETON, N.J. — State Street Bank has signed a 63,000-square-foot office lease renewal at Princeton Point, a two-building office complex located within the university’s 2,000-acre business and research campus. The property offers an onsite café/restaurant, conference center and a courtyard with outdoor private seating. Kevin Carton and Todd Elfand of Cushman & Wakefield represented the landlord, Nuveen Real Estate, in the lease negotiations. JLL represented the tenant.
NEWINGTON, N.H. — Colliers has negotiated a 53,664-square-foot, seven-year office lease renewal in Newington, located near the Maine-New Hampshire border. The complex at 100 Arboretum Drive was built in 2004 and spans 127,000 square feet. David Choate and Abigail Bachman, of Colliers represented the tenant, federal benefits administrator FedPoint, in the lease negotiations. Steve Horan represented the landlord, Boston-based Farley White Interests, on an internal basis.
FULLERTON, CALIF. — A local family investor has acquired an office campus situated on 33.7 acres in Fullerton for $76.5 million, or $188 per rentable square feet. The seller was a partnership comprising a global real estate investment, development and management firm and a global investment manager. Aerospace and weapons manufacturer Raytheon, an investment-grade credit tenant, fully leases the 405,130-square-foot campus, located at 1801 Hughes Drive. Nico Napolitano, Jeffrey Cole, Jeff Chiate, Rick Ellison, Scott Selke and Brad Brandenburg of Cushman & Wakefield’s capital markets team in Southern California represented the seller in the deal.
SUGAR LAND, TEXAS — JLL has arranged the sale of 77 Sugar Creek, a 143,410-square-foot office building located in the southwestern Houston suburb of Sugar Land. The six-story building was renovated in 2018 and was roughly 64 percent leased at the time of sale. Rick Goings, Marty Hogan and Will Sledge of JLL represented the seller, CW Capital, in the transaction. Locally based investment firm InLight Capital purchased the asset for an undisclosed price.