NEW YORK CITY — A partnership between Tishman Speyer and Silverstein Properties has received a $330 million loan for the refinancing of 11 West 42nd Street, a 960,000-square-foot office building in Midtown Manhattan. Originally constructed in 1927, the 32-story building was 99 percent leased at the time of the loan closing. Tenants include Michael Kors, Citizen’s Bank & Trust, New York University and Kohn Pederson Fox. Bank of America served as the senior lender, and Taconic Capital provided mezzanine financing. Dustin Stolly, Jordan Roeschlaub, Nick Scribani, Chris Kramer, Issa Abbassi and Holden Witkoff of Newmark arranged the debt, which was structured with a five-year term and a fixed interest rate, on behalf of ownership.
WHITE PLAINS, N.Y. — JLL has arranged a $17.5 million loan for the refinancing of two office and healthcare buildings totaling 218,372 square feet in White Plains, located north of New York City in Westchester County. The adjacent buildings were 86.5 percent leased at the time of the loan closing and offer amenities such as a renovated café, childcare facility and a fitness center. Michael Klein, Max Custer and Benjamin Morgenthal of JLL arranged the five-year, fixed-rate loan through Centreville Bank on behalf of the borrower, Northpath Investments.
PHOENIX — Jamie Godwin, president of Stevens-Leinweber Construction (SLC), has purchased a two-story office building in Phoenix’s Camelback Corridor area for $3.8 million. The building will undergo a multi-million-dollar renovation to serve as the company’s new, expanded headquarters. The renovation plans include modernizing the building’s interior, creating employee-centric amenities and improving common areas. Other planned improvements include renovations to the building’s shared courtyard and common areas, new HVAC systems and the addition of a fire sprinkler system. Chris Krewson of Newmark represented SLC in the purchase of the 5045 building. Wally Hale and Drew Sampson of Avison Young represented the building’s seller, 5045 Associates LLC. Renovations are underway, with the project slated for completion by the end of this year.
SALT LAKE CITY — Workbox, a member-driven coworking company, is set to open its first location outside of the Midwest in Salt Lake City. The new coworking space will be in the historic Orpheum Theater, which formerly served as a CommonGrounds Workplace location. Workbox offers shared kitchen spaces, private conference rooms and programming events.
THE WOODLANDS, TEXAS — Construction firm Webber LLC has signed a 46,164-square-foot office lease renewal at Hughes Landing, a 79-acre campus located about 30 miles north of Houston in The Woodlands. Jerrod McQuain, Paul Penland and Mark Reilly of JLL represented Webber in the lease negotiations. Robert Parsley, Norman Munoz and Jillian Fredericks of Colliers represented the landlord, The Howard Hughes Corp.
CHICAGO — Owner Accesso has secured nearly 60,000 square feet of office leases at Monroe Plaza in Chicago. Signing new leases were JFMC Facilities Corp., the real estate arm of the Jewish Federation of Metropolitan Chicago, and PartsTrader, a cloud-based parts procurement platform for the collision repair industry. Signing renewals were Great American Insurance Group, Intersect Illinois, Rex Electric and EFG Group LLC. Mason Taylor, Karoline Eigel and Paige Krueger of Cushman & Wakefield represented Accesso in the leases.
MAYNARD, MASS. — Alaka’i Technologies, a locally based provider of air mobility systems, has signed an 18,473-square-foot office lease in Maynard, a western suburb of Boston. Trevor Holmes and Garrett Quinn of SVN | Parsons Commercial Group | Boston represented the tenant, which is taking space at the 1.1 million-square-foot Mill & Main complex, in the lease negotiations. James Tambone of Lincoln Property Co. represented the landlord, an entity doing business as AS Clocktower LLC.
NASHVILLE, TENN. — Work-focused members organization The Malin will open a 12,000-square-foot club in Paseo South Gulch in Nashville, marking the second location for the brand in the city. Located within the project’s Voorhees Building, The Malin South Gulch will feature 58 dedicated desks, seven private offices, four meeting rooms, three lounges and a library. Kingston Lafferty Design is providing interior design services for the project, which is scheduled for completion this fall. SomeraRoad is the developer and owner of Paseo South Gulch.
FISHERS, IND. — The Link at Fishers District, a 457,000-square-foot office campus in the Indianapolis suburb of Fishers, is undergoing a renovation. JLL is the leasing agent for the property, which is owned by M&J Wilkow and a fund managed by DRA Advisors. Cunningham Restaurant Group (CRG), an Indiana-based restaurant hospitality group known for local favorites such as Livery, Provision and Bru Burger, will open a café at the property. Tenants at The Link will also enjoy new amenities such as conference rooms, a game room, outdoor walking path, courtyard, tenant lounges, a fitness center and 102-seat auditorium with updated seating. Surrounding The Link will soon be the Indy Fuel’s new hockey arena, a 254-unit luxury townhome community and a newly planned development with 250 luxury apartment units and 150 hotel rooms. Abby Zito, John Robinson and Kevin Gilihan of JLL negotiated the lease transaction with CRG. The renovation project is set for completion in late 2023 or early 2024.
SCHAUMBURG, ILL. — Primient, a producer of food and industrial products from plant-based, renewable sources, has signed a 23,725-square-foot lease at Woodfield Preserve Office Center in the Chicago suburb of Schaumburg. Zeller owns the 29-acre office campus, which totals 325,000 square feet across two buildings. Each building features a full set of amenities such as a café, fitness center, conference center, game room, mother’s room, bike storage area and tenant lounges. There is also a new courtyard with shaded pergolas and seating. William Elwood, Rob Graham and Adam Lawler of CBRE represented Zeller, while Paul Diederich of CBRE represented the tenant. JC Anderson is completing the interior build-out for Primient.