THE WOODLANDS, TEXAS — Avison Young has negotiated a 53,060-square-foot office lease at The Woodlands Towers at The Waterway, an office property located about 30 miles north of Houston. Anthony Squillante and Drew Coupe of Avison Young represented the tenant, Kodiak Gas Services, which is relocating and expanding from its current office in Montgomery, Texas, in the lease negotiations. Robert Parsley, Norman Munoz and Jillian Fredericks of Colliers represented the landlord, The Howard Hughes Corp
NEW YORK CITY — Black Bear Capital Partners has arranged a $58 million loan for the refinancing of 503-511 Broadway, a five-story office building in Manhattan’s SoHo district. Built in the early 1900s, the property includes 111,164 square feet of office space and 10,000 square feet of ground-floor retail space, with the remainder consisting of storage space. The building was fully leased at the time of the loan closing. Bryan Manz, Emil DePasquale and George Pektor of Black Bear Capital Partners arranged the five-year, fixed-rate loan through Morgan Stanley on behalf of the borrower, HSR Corp.
NASHVILLE, TENN. — Stream Realty Partners has arranged a 25,324-square-foot office lease at Radius, a 265,564-square-foot office building located at 601 11th Ave. N in Nashville’s Gulch district. The tenant, Covenant Physician Partners, signed a 10-year lease to occupy the eighth floor of Radius, which is now 60 percent occupied. The company is relocating from its current Nashville offices at the Truist building (401 Commerce St.). Rob Lowe of Stream Realty Partners, along with Nikko Sansone of Sandeema, represented the landlord, Rubicon Equities, in the lease negotiations. Dan Bauchiero of Foundry Commercial represented the tenant.
BERKELEY, CALIF. — Gantry has secured an $11.3 million permanent loan to refinance a multi-tenant office tower located at 2855 Telegraph Ave. in Berkeley. The six-story, 83,557-square-foot office building accommodates more than 35 tenants, including professional services, medical offices and small businesses. It was originally constructed in the 1960s. Gantry’s Tony Kaufmann and Alex Poulos secured the 30-year, fixed-rate loan, which one of Gantry’s correspondent life company lenders provided. The financing replaces a maturing CMBS loan, providing stability and financial flexibility for the building’s tenant base.
COVINA, CALIF. — Lee & Associates-Pasadena has arranged the sale of the Royale Oak Office Park in the San Gabriel Valley city of Covina. An international investor acquired the asset for $4 million in an all-cash transaction. The 19,300-square-foot property, located at 1272-1274 Center Court Drive in the Village Oaks Business Park, comprises two multi-tenant office buildings. The property offers updated interior suites, private restrooms, exterior entrances and significant upside potential in rental rates. The seller recently implemented renovations, including new exterior staircases, paint and landscaping. Lee’s Jamie Harrison and Christopher Larimore represented the seller.
ATLANTA — Jamestown has topped out 619 Ponce, a mass-timber mixed-use building on the Ponce City Market campus in Atlanta’s Old Fourth Ward district. The four-story property will comprise 87,000 square feet of loft offices and 27,000 square feet of retail space upon completion. Business tech firm Sage and retailer Pottery Barn have committed to 57,000 square feet of office space and 18,000 square feet of retail space at 619 Ponce, respectively. Amenities will include onsite daycare and medical facilities, direct access to the Atlanta BeltLine, bike storage and complimentary access to The Roof entertainment venue at Ponce City Market. The building will feature outdoor space on every level, natural wood columns and ceilings and floor-to-ceiling windows with operable panels. Jamestown is targeting LEED and Fitwel certification and is using Georgia-grown timber for the façade at 619 Ponce, as well as a regional supply chain, according to Jamestown. The design-build team includes Handel Architects, JE Dunn and StructureCraft. Atlanta-based Jamestown owns and manages more than 100,000 acres of timberlands across Georgia, Alabama, South Carolina, New York, Pennsylvania and Indiana.
AUSTIN, TEXAS — CBRE has arranged a $67.1 million acquisition loan for a portfolio of 12 office buildings and one retail building totaling 547,395 square feet in Austin. The buildings are situated on a combined 42 acres within Braker Business Park. Bill Chiles, Scott Peterson, Colby Matzke and Brian Cruz of CBRE arranged the five-year, nonrecourse loan on behalf of the borrower, California-based M.I.G. Capital. The direct lender was not disclosed. The buyer previously purchased three other buildings within Braker Business Park in 2016.
RACINE, WIS. — Marcus & Millichap has negotiated the $3.4 million sale of Warwick Business Court in Racine, about 30 miles south of Milwaukee. The 24,500-square-foot office building is situated on Warwick Way. At the time of sale, the property was 89 percent occupied and anchored by three medical tenants. The building was constructed in 2000 and renovated within the last three years. Brett Rodgers, Frank Roti and Alex Sacks of Marcus & Millichap represented the seller, a limited liability company. The team also secured and represented the buyer, a private investor.
NEW YORK CITY — Private equity firm Clayton Dubilier & Rice has signed a 144,000-square-foot office lease at 550 Madison Avenue in Midtown Manhattan. The firm is relocating and expanding from the Seagram Building and taking six floors at the 41-story, 800,000-square-foot building. The Olayan Group owns the building, which recently underwent a repositioning and now houses an amenity garden, fitness center and other wellness-based amenities and features. Olayan has also engaged restaurateur Simon Kim to bring a new 15,000-square-foot restaurant concept to the building.
RYE, N.Y. — New York Blood Center Enterprises will open a 187,000-square-foot headquarters campus in Rye, located in Westchester County. The facility will include space for life sciences research, blood collections, processing and cell therapy manufacturing and traditional office functions. G3 Architects is designing the project, and Consigli Construction Co. is serving as the general contractor. Construction is underway, and completion is slated for the second half of 2024.