NEW YORK CITY — JLL has negotiated a 13,815-square-foot office lease at 860 Broadway in Midtown Manhattan. The six-story building was originally constructed in 1926 and underwent a capital improvement program in 2019. Seth Hecht and Thomas Swartz of JLL represented the landlord, Gordon Property Group, in the lease negotiations. Michael Movshovich and Troy Elias of Cushman & Wakefield represented the tenant, mortgage servicing platform Valon Technologies, which will occupy the entire fourth floor.
SAN FRANCISCO — Healthpeak Properties has received approval of entitlements for Phases II and III of Vantage, a purpose-built lab development in South San Francisco. The new entitlements enable Healthpeak to deliver an additional 1.3 million square feet of lab space, bringing the campus to approximately 1.7 million square feet upon full build out. The 20-acre campus offers tenants a highly amenitized, world-class campus setting with access to multiple modes of transportation, including direct access to the Rails-to-Trails pathway. The new entitlements represent double the allowable density compared to when Healthpeak originally acquired the land. The long-term nature of the entitlements offers flexibility to deliver the balance of the development in phases to align with market demand. In 2022, Healthpeak started construction on Phase I of the Vantage campus, consisting of 343,000 rentable square feet across two buildings, as well as a 40,000-square-foot amenity building with multiple dining options, conferencing space and a fitness center. Phase I is currently 52 percent leased to Astellas Pharma, which took initial occupancy of its space in December 2023.
DENVER — John Propp Commercial Group has arranged the sale of an office building located at 15 E. Iowa Ave. in Denver. South Gate Masonic Building Association acquired the asset from 25W BKM LLC for $2.3 million. The two-story, 21,258-square-foot building features ground-floor retail space, second-story office space and a single apartment. The buyer plans to renovate and reposition the property both for its own business occupy and to retain existing retail tenants. Joshua Cohen of John Propp Commercial Group represented the seller in the deal.
RALEIGH, N.C. — Audemars Piguet, a luxury watchmaker based in Switzerland, plans to open a new regional headquarters office in Raleigh. The company plans to invest $22 million to build out its 63,000-square-foot office at Raleigh Iron Works, a $150 million mixed-use development in Raleigh by Jamestown and Grubb Ventures. The development will be the home of Audemars Piguet’s North American Service Center, which will create 105 new jobs. The watch manufacturer is joining other luxury tenants at Raleigh Iron Works that include Peter Millar, Johnnie O, Raleigh Denim Workshop and the Bal Harbour pop-up experience. The 19-acre development will also house 200 apartments and offices for Wasserman and FM Systems, as well as food-and-beverage options from Chef Scott Crawford, Robert Thompson, Ford Fry, Eastcut Sandwiches, Andia’s Ice Cream and Ponysaurus Brewing Co. Civic entities that were involved in bringing Audemars Piguet to the project include Wake County Economic Development, Raleigh Economic Development, the City of Raleigh, Wake County Board of Commissioners, Capital Area Workforce Development Board, North Carolina State University, Wake Technical Community College and the Economic Development Partnership of North Carolina.
ALLEN, TEXAS — Lee & Associates has negotiated the sale of a 29,979-square-foot office building in the northeastern Dallas suburb of Allen. According to LoopNet Inc., the two-story building at 100 Allentown Parkway was constructed in 1985 and includes 142 parking spaces. Jessica Reinhardt and George Tanghongs of Lee & Associates brokered the deal. The buyer and seller were not disclosed.
KATY, TEXAS — Engineering firm Percheron Holdings has signed a 28,597-square-foot office lease extension for its headquarters space at Grandway West, located at 1904 Grand Parkway N in the western Houston suburb of Katy. Chris Nash of Colliers and Jeremy Hunt of Hunt’s Real Estate represented the tenant in the lease negotiations. Parker Burkett and Eric Anderson with Transwestern represented the locally based landlord, InSite Realty.
SAN FRANCISCO — Harbert Management Corp. has completed the disposition of Concord Corporate Centre, an office campus in San Francisco’s East Bay area. Sierra Pacific acquired the asset for an undisclosed price. Located at 1320 and 1390 Willow Pass Road, the 346,731-square-foot, two-building campus was 73 percent leased at the time of sale. The property also includes a 1,167-stall parking garage. The buyer plans to add updated amenities and renovate the common areas of the property. Steven Golubchik, Edmund Najera, Jonathan Schaefler and Darren Hollak of Newmark represented the seller in the deal.
NEW YORK CITY — Five tenants have signed leases for office and showroom space at 1 East 33rd Street, a 160,000-square-foot building in Midtown Manhattan. The tenants are apparel company Q4 Designs (26,504 square feet); pet products provider European Home Designs (13,027 square feet), home furnishings firm Franco Manufacturing (6,894 square feet); Regal Jewelry (13,027 square feet); and Jem International (18,624 square feet). Koeppel Rosen LLC owns the building, which was originally constructed in 1913 and is now fully leased.
HOUSTON — Solar power provider Chariot Energy has signed a 16,192-square-foot office lease at Galleria Tower 2 in Houston. The tenant plans to relocate from Williams Tower to the entire 14th floor early next year. Brad Beasley and Win Haggard of Cushman & Wakefield represented the landlord, Unilev Management, in the lease negotiations. Nick Bockhorn and Cameran Lindee of CBRE represented the tenant.
WARRENSVILLE HEIGHTS, OHIO — Industrial Commercial Properties (ICP) has acquired the research and development (R&D) campus of The Sherwin-Williams Co. in Warrensville Heights, an eastern suburb of Cleveland. The purchase price was undisclosed. The 105-acre property includes several buildings. Sherwin-Williams has entered into a short-term sale-leaseback agreement with ICP, which plans to repurpose some of the smaller commercial structures on the site while it finalizes redevelopment plans for the R&D building and adjacent acreage. The property will soon be vacated by Sherwin-Williams, which is building a new R&D center in Brecksville and a new headquarters in downtown Cleveland.