Office

CBRE Brokers $13.6M Sale of Office Portfolio in Greenwich, Darien, Connecticut

by Taylor Williams August 23, 2023

GREENWICH AND DARIEN CONN. — CBRE has brokered the $13.6 million sale of a portfolio of two office buildings totaling 42,794 square feet in Connecticut. The 17,081-square-foot building at 39 Lewis St. in Greenwich was 91 percent leased at the time of sale, and the 25,713-square-foot building at 23 Old Kings Highway in Darien was 86 percent leased at the time of sale. Jeffrey Dunne, Steven Bardsley, Travis Langer and Daniel Blumenkrantz of CBRE represented the seller in the transaction. CBRE also procured separate buyers for each building. All parties requested anonymity.

August 23, 2023

Leasing Activity New York Northeast Office

Vera Wang Signs 26,708 SF Office Lease at 500 Park Avenue in Manhattan

by Taylor Williams August 23, 2023

NEW YORK CITY — Vera Wang has signed a 26,708-square-foot office lease at 500 Park Avenue in Manhattan’s Plaza District. The fashion designer is relocating from 15 East 26th St. and will occupy the entire fifth floor and part of the seventh floor. The complex comprises the 11-story former Pepsi-Cola Building that was constructed in 1960 and the 40-story 500 Park Tower that was built in 1984. Cynthia Wasserberger, Frank Doyle and Michael Pallas of JLL represented the undisclosed landlord in the lease negotiations. Jeff Peck, Daniel Horowitz and Christopher Foerch of Savills represented Vera Wang.

August 23, 2023

Development Leasing Activity Massachusetts Northeast Office Top Stories

LEGO Group’s Americas Division to Relocate to 100,000 SF Office in Boston’s Back Bay

by Kristin Harlow August 23, 2023

BOSTON — The LEGO Group has chosen 1001 Boylston St. in Boston’s Back Bay neighborhood as the location of its new Americas head office when the company relocates in 2026. LEGO first announced in January that it would be relocating from its current base in Enfield, Conn. Samuels & Associates is the developer of 1001 Boylston St., which will feature 450,000 square feet of office and life sciences space, 35,000 square feet of shops and restaurants, new public plazas and a CitizenM hotel over the Massachusetts Turnpike. The project is slated to open in 2024. Amenities at the property will include a fitness center, wellbeing room, parent room and onsite parking and bike storage. The building was designed to achieve multiple sustainability certifications: LEED Gold, WELL Gold and WELL Core Gold v2. Elkus Manfredi served as the project architect. Spread over five floors and more than 100,000 square feet, LEGO’s new office will feature areas for collaboration as well as “concentrative work zones.” The site is accessible for employees walking and cycling to work, and is situated near Green Line and Orange Line public transit stops. LEGO says the location was strategically chosen to draw upon the region’s diverse talent …

August 23, 2023

Development Georgia Leasing Activity Life Sciences Mixed-Use Office Southeast

Trammell Crow Co., GATV Top Out 13-Story Science Square Labs Development in Atlanta

by John Nelson August 22, 2023

ATLANTA — Trammell Crow Co. and partner Georgia Advanced Technology Ventures (GATV) have topped out Science Square Labs, a 13-story research-and-development (R&D) facility located adjacent to the Georgia Tech campus in Atlanta. GATV is a cooperative organization of Georgia Tech. The 368,258-square-foot building is part of the first phase of Science Square, an 18-acre mixed-use development that will offer laboratory, R&D offices, dining options and residences. Brasfield & Gorrie is the general contractor on Phase I of Science Square. Also part of the first phase is a 280-unit residential tower by High Street Residential, an affiliate of Trammell Crow Co. The developers aim to deliver Phase I in the first quarter of 2024. Designed by Perkins & Will, Science Square Labs will feature wet and dry laboratories, collaborative spaces, food-and-beverage outlets, a fitness center, interactive conference rooms, indoor/outdoor lounge, catering kitchen and six “graduator” speculative lab/office suites that will accommodate growing life sciences firms. Additionally, Cherry Street Energy is installing a 38,000-square-foot solar panel array atop the parking garage. The design-build team is aiming for Science Square to achieve LEED Gold and WELL certifications. In addition to the topping out, the ownership group has signed the first tenant at Science …

August 22, 2023

Acquisitions Florida Office Southeast

Torose Equities, LNDMRK, Terranova Acquire 220,000 SF Office Building in Metro Miami

by John Nelson August 22, 2023

CORAL GABLES, FLA. — A joint venture between Torose Equities, LNDMRK Development and Terranova Corp. has acquired 255 Alhambra, a 220,000-square-foot office building located in downtown Coral Gables. Situated on 1.3 acres on Alhambra Circle, the property features floor-to-ceiling windows and a newly renovated lobby. An affiliate of Deutsche Bank/RREEF sold the building. The sales price was not disclosed, but South Florida Business Journal reported that the property traded for more than $50 million. The partnership plans to execute a business plan including leasing up the existing vacancies and upgrading amenities at the property. 255 Alhambra was built in 1974 and renovated in 1993, according to LoopNet Inc.

August 22, 2023

Leasing Activity Office Texas

Bradford Commercial Negotiates 8,247 SF Office Lease in Dallas

by Taylor Williams August 22, 2023

DALLAS — Bradford Commercial Real Estate Services has negotiated an 8,247-square-foot office lease at 4514 Travis St. in the Knox-Henderson area of Dallas. The tenant, real estate services firm Douglas Elliman Inc., is tripling the size of its Dallas office within Travis Walk, a 100,000-square-foot building. Melanie Hughes and Richmond Collinsworth of Bradford Commercial represented the undisclosed landlord in the lease negotiations.

August 22, 2023

Leasing Activity New York Northeast Office

Sprinklr Signs 23,623 SF Office Lease at Hudson Commons in Manhattan

by Taylor Williams August 22, 2023

NEW YORK CITY — Sprinklr (NYSE: CXM), a provider of customer management software, has signed a 23,623-square-foot office lease at Hudson Commons in Manhattan. The company will occupy the entire 12th floor of the 25-story, 697,960-square-foot building. Evan Haskell, Ben Joseph, James Ackerson and Howard Fiddle of CBRE, along with internal agents Ian Gaffney and Taber Brown, represented the landlord, CommonWealth Partners, in the lease negotiations. Nick Farmakis and David Goldstein of Savills represented Sprinklr.

August 22, 2023

Development Kansas Midwest Office

Occidental Management Expands Aspiria NOW Coworking Facility in Overland Park, Kansas

by Kristin Harlow August 22, 2023

OVERLAND PARK, KAN. — Occidental Management has expanded Aspiria NOW, its coworking facility on the Aspiria campus in Overland Park. The expansion extended the coworking space to the third floor of its existing building with an additional 30,000 square feet that includes 11 new private offices, 60 dedicated workstations and increased collaboration areas. The firm has also hired Kathy Todtenhausen to serve as community manager, supporting General Manager Robert Curland in a variety of functions. Aspiria NOW first opened in August 2022 and is now home to more than 28 member companies. Aspiria NOW memberships are available in a variety of flexible plans, including daily, month-to-month and long-term packages. The more than 80,000-square-foot space can accommodate corporations that need temporary spaces for special projects or hybrid workspace options.

August 22, 2023

Florida Leasing Activity Mixed-Use Office Southeast

Tricera Capital Inks Office Leases Totaling 42,029 SF in South Florida

by John Nelson August 18, 2023

BOCA RATON AND WEST PALM BEACH, FLA. — Tricera Capital has secured one lease expansion and two new leases totaling 42,029 square feet in South Florida. The deals include Wells Fargo expanding its lease by 19,000 square feet at Tricera’s 1675 Midtown office building at 1675 N. Military Trail in Boca Raton, bringing the bank’s total footprint to 45,000 square feet. Built in 2008, the building totals roughly 70,000 square feet. The other deals include PMP Marketing Agency signing a 5,100-square-foot lease and Palm Beach Atlantic University leasing 17,929 square feet at Workspaces at the Press in West Palm Beach, which totals 120,000 square feet and is situated within the mixed-use The Press development. John Criddle, Joe Freitas and Christ Smith of CBRE manage leasing at 1675 Midtown, and Jon Blunk, Cristina Glaria, Connie Thomas and Laurel Oswald of TCRE overseeing leasing at Workspaces at The Press. Robert Anderson of Tortoise Realty Group represented the university in the lease negotiations.

August 18, 2023

Leasing Activity New York Northeast Office

Marshall Wace Signs 79,000 SF Office Lease at The Spiral in Midtown Manhattan

by Taylor Williams August 18, 2023

NEW YORK CITY — Global asset manager Marshall Wace has signed a 79,000-square-foot office lease at The Spiral, a 66-story, 2.8 million-square-foot tower in Midtown Manhattan. The tenant, which is relocating from 350 Park Avenue, has committed to the entire 32nd floor and part of the 33rd floor for 14 years. Andrew Sachs and Bill Levitsky of Newmark represented Marshall Wace in the lease negotiations. Greg Conen and Sam Brodsky represented the landlord, Tishman Speyer, on an internal basis. The build-out of the space will begin later this year.

August 18, 2023

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