Thursday, September 17, 2026
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3939-N-First-St-San-Jose-CA
AcquisitionsCaliforniaOfficeWestern

RMR Group Sells 64,000 SF R&D Office Building in Silicon Valley

by Amy Works

SAN JOSE, CALIF. — The RMR Group has completed the disposition of a research and development (R&D) office building in San Jose. A confidential buyer acquired the Silicon Valley asset for $10.8 million. Situated on 4.2 acres at 3939 N. First St., the 64,000-square-foot building features modernized interiors, including a lobby, tenant spaces, kitchen/breakroom area and extensive lab infrastructure. Additionally, the building offers 3,000 amps of power and rear-covered dock loading. Joe Moriarty, Michael Taquino, Kyle Kovac, Bob Steinbock and Kati Thabit of CBRE represented the seller in the deal.

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Leasing ActivityNew YorkNortheastOffice

NYSUT Signs 15,000 SF Office Lease in Garden City, New York

by Taylor Williams

GARDEN CITY, N.Y. — The New York State United Teachers (NYSUT) has signed a 15,000-square-foot office lease in the Long Island community of Garden City. The federation of more than 1,200 labor unions is taking space at the 200,000-square-foot building at 100 Quentin Roosevelt Blvd., which was originally built in 1990 and was recently renovated. Jerry Guerra and Jeff Nemshin of The Paragon Group represented NYSUT in the lease negotiations. The landlord, The Feil Organization, was self-represented.

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Leasing ActivityOfficeTexas

CBRE Arranges Five Office Leases Totaling 22,823 SF Near Downtown Austin

by Taylor Williams

AUSTIN, TEXAS — CBRE has arranged a quintet of office leases totaling 22,823 square feet at Centre II, a 54,696-square-foot building located just south of downtown Austin. The deals include a combination of new leases and renewals, with the largest being an 11,049-square-foot renewal with Alabama-based computer hardware manufacturer Abaco Systems. Casey Ford of CBRE represented the landlord, Los Angeles-based Stanton Road Capital, in the lease negotiations.

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AcquisitionsDevelopmentHealthcareNorth CarolinaOfficeSoutheastUncategorized

Flagship Acquires Former Verizon Office Building in Wilmington, Plans Conversion to Healthcare Campus

by John Nelson

WILMINGTON, N.C. — Flagship Healthcare Properties has purchased a 153,526-square-foot office building located at 3601 Converse Road in Wilmington. The Charlotte-based company acquired the property through Flagship Healthcare Trust for an undisclosed price. The seller was also not disclosed. The three-story office building was built as a single-tenant property and was formerly home to Verizon Wireless. Flagship is underway on the conversion of the office building into an outpatient healthcare campus dubbed Flagship Medical Plaza. Novant Health has signed a lease to occupy two floors at the project beginning in 2025. The tenant’s planned services at the clinic will include specialized physicians, lab services, imaging and infusion therapy, according to Ernie Bovio, president of Novant’s coastal region. Novant operates the Novant Health New Hanover Regional Medical Center hospital, which is located two miles from Flagship Medical Plaza.

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IllinoisLeasing ActivityMidwestOffice

Medline Expands Office Lease to 161,000 SF at The MART in Downtown Chicago

by Kristin Harlow

CHICAGO — Medline has expanded its office lease from 51,000 to 161,000 square feet at THE MART in downtown Chicago. Vornado Realty Trust owns the 3.7 million-square-foot property. Medline’s contiguous space will take up the majority of the 12th floor, and the lease term is through 2036. Headquartered in Northfield, Ill., Medline is a medical-surgical product manufacturer, supply chain provider and clinical solutions partner. The company currently has more than 39,000 employees worldwide. Spanning two full city blocks, THE MART is home to companies such as Motorola Mobility, PayPal, Conagra Brands, Allstate and Grainger. The 25-story building also features more than 250 design showrooms. Vornado recently completed the final phase of a more than $70 million renovation, which incorporates a grand staircase leading to a second-floor amenity program and gathering space. There are a range of food-and-beverage options, a fitness and conference center, exclusive tenant lounge and landscaped River Park. J. Frank Franzese and Steven Bauer of Colliers represented Medline, while Andrea Saewitz, Wendy Katz and Ben Cleveland of Stream Realty represented Vornado.

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DevelopmentIllinoisMidwestOffice

New Ownership Group Revitalizes 161 North Clark Office Tower in Chicago

by Kristin Harlow

CHICAGO — Chicago office tower 161 North Clark has emerged from receivership with a new ownership group that has inked 75,000 square feet of leases so far this year. The 50-story property features a refreshed lobby and a soon-to-open Veteran Roasters coffee shop. The new ownership group is an entity doing business as 161 North Clark Newco LLC. Telos Group is overseeing leasing, CBRE is the property manager and Xroads Real Estate Advisors is the asset manager. The 1 million-square-foot property is situated directly across from Google’s new Chicago headquarters, which are slated to open in 2026. Established in 2017, the veteran-owned Veteran Roasters is opening in the retail space formerly occupied by Freshii. Visitors will also enjoy a multimedia art exhibit from local artist Tom Rossiter. Tenant amenities include a conference center, 12th-floor outdoor roof terrace, fitness center and lounge. The new ownership is working on plans to expand and update the amenity and conference center floor.

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GeorgiaLeasing ActivityOfficeSoutheast

T-Mobile Renews 100,000 SF Office Lease at One Ravinia in Atlanta

by John Nelson

ATLANTA — T-Mobile has renewed its approximately 100,000-square-foot lease at One Ravinia, a 17-story office tower in Atlanta’s Central Perimeter submarket. Boca Raton-based CP Group is the landlord of One Ravinia, as well as sister property Two Ravinia. T-Mobile has been a tenant at the tower since 2007. Eric Ross of CBRE represented CP Group in the lease negotiations, and Kirk Diamond, April Parrish, Erin Smith and Steven Taylor of Cushman & Wakefield represented T-Mobile. CP Group recently completed a series of capital improvements across One and Two Ravinia, including enhancing the lobbies, renovating and expanding the cafe and coffee bar, adding a modern tenant lounge with outdoor seating, upgraded the onsite conference center and introducing 85,000 square feet of worCPlaces, or speculative suites.

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470-Chestnut-Ridge-Road-Woodcliff-Lake-New-Jersey
AcquisitionsNew JerseyNortheastOffice

Keystone Property Group Sells Northern New Jersey Office Building for $9.8M

by Taylor Williams

WOODCLIFF LAKE, N.J. — Metro Philadelphia-based investment and development firm Keystone Property Group has sold a 53,730-square-foot office building located at 470 Chestnut Ridge Road in the Northern New Jersey community of Woodcliff Lake. The sales price was $9.8 million. The building was fully leased at the time of sale to Kiewit Infrastructure. Jeffrey Dunne, Doug Rodio, Travis Langer and Dan Blumenkrantz of CBRE represented Keystone in the transaction. The buyer was not disclosed.

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Lakeview-Innovation-Center-Thousand-Oaks-CA
AcquisitionsCaliforniaIndustrialOfficeWestern

JLL Arranges Sale of 276,529 SF Lakeview Innovation Center Flex Campus in Thousand Oaks, California

by Amy Works

THOUSAND OAKS, CALIF. — JLL Capital Markets has arranged the all-cash sale of Lakeview Innovation Center, a flex campus on 22.1 acres in Thousand Oaks. An undisclosed seller sold the asset to a partnership between Alta West Partners, an affiliate of Glendon Capital Management and A2 Capital Management for an undisclosed price. Michael Leggett, Jeffrey Bramson, Andrew Harper and William Poulsen of JLL represented the seller in the transaction. Renovated in 2023, Lakeview Innovation Center offers 276,529 square feet of research-and-development (R&D) and office space. The campus includes an onsite Equinox fitness club, Earthbar, pickleball court, walking trails, a tenant lounge and multiple outdoor patio and collaborative spaces. The tenant roster includes Marvell Technologies and Rawlings, which benefit from the property’s infrastructure, including lab-grade HVAC, excess power capacity, ample clear heights, loading docks and backup generators. Additionally, the asset offers expansion opportunities with M2 zoning, supporting up to 123,000 square feet of additional density for life sciences, R&D or office uses. The new ownership team plans to upgrade the common areas, restrooms, signage and landscaping.

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DevelopmentGeorgiaLeasing ActivityOfficeRetailSoutheast

The Athlete’s Foot Opens Corporate Headquarters, Flagship Store in Midtown Atlanta

by John Nelson

ATLANTA — The Athlete’s Foot, a shoe and sports apparel retailer with 400 stores in 24 countries, has opened its corporate headquarters and flagship store in Midtown Atlanta. The retailer’s new home at 931 Monroe Drive also includes a community center component that will serve as “cultural hub” for community engagement. The Athlete’s Foot’s new headquarters and flagship store is situated along the Atlanta BeltLine adjacent to Piedmont Park. Project partners included prominently Black-owned companies, including T. Dallas Smith & Co. (real estate advisor), J.M. Lee Construction Co. (general contractor) and Aysha Pennerman (mural artist).

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