Office

JLL Arranges $290M Construction Loan for Uptown Dallas Office Tower

by Taylor Williams April 17, 2024

DALLAS — JLL has arranged a $290 million construction loan for Parkside Uptown, a 500,000-square-foot office tower that will be located at the corner of North Harwood Street and Woodall Rodgers Freeway in Dallas. Bank of America has preleased roughly half the space at the 30-story building, which is slated for a 2027 delivery. Trey Morsbach, Jim Curtin, Michael Cosby and Greg Napper of JLL arranged the four-year, floating-rate loan through Goldman Sachs Alternatives. The borrower is a partnership led by Pacific Elm Properties that also includes local developer KDC. New York-based architect Kohn Pedersen Fox designed Parkside Uptown.

April 17, 2024

Leasing Activity Office Texas

REOC San Antonio Negotiates 11,177 SF Office Lease at Cannon Oaks Tower

by Taylor Williams April 17, 2024

SAN ANTONIO — REOC San Antonio has negotiated an 11,177-square-foot office lease at Cannon Oaks Tower, a 57,912-square-foot building on the city’s northwest side. The seven-story building was originally constructed on 2.4 acres in 1983. Michael Morse of REOC San Antonio represented the landlord in the lease negotiations. The tenant, personal injury law firm Ruben Beltran, was self-represented.

April 17, 2024

Leasing Activity Office Texas

RGM Engineering Signs 2,418 SF Office Lease Renewal in San Antonio

by Taylor Williams April 17, 2024

SAN ANTONIO — RGM Engineering has signed a 2,418-square-foot office lease renewal at Northwest Center in San Antonio. The building, which according to LoopNet Inc. was built in 1985 and totals 241,405 square feet, is located at the junction of Interstates 10 and 410. Larry Mendez and Brad Kaufman of CBRE represented the tenant in the lease negotiations. Paul Barker and Hayley Ruggles of Endura Advisory Group represented the landlord, Westdale Real Estate & Investment Management.

April 17, 2024

Leasing Activity North Carolina Office Southeast

CP Group Executes 70,000 SF of Leases at Harris Corners Office Campus in North Charlotte

by John Nelson April 17, 2024

CHARLOTTE, N.C. — CP Group has executed nearly 70,000 square feet of lease deals this year at Harris Corners, a three-building office campus situated off I-77 on the north end of Charlotte. Five new tenants are joining the office campus, including Alight Solutions (4,011 square feet); Southern National Roofing (9,676 square feet); Fidelity National Title Insurance Co. (2,602 square feet); Adams Outdoor Advertising (4,490 square feet); and Well Care Home Health (3,744 square feet). The lease deals also comprise three renewals, which include Sunstate Security (2,373 square feet); Dewberry (13,917 square feet); and Quint Events (28,278 square feet). Jennifer Kurz and Tim Arnold of Trinity Partners represented CP Group in all eight lease transactions. The Florida-based landlord has owned Harris Corners since summer 2021.

April 17, 2024

Leasing Activity New York Northeast Office

Everest Group Signs 66,444 SF Office Lease at 1155 Avenue of the Americas in Manhattan

by Taylor Williams April 17, 2024

NEW YORK CITY — Everest Group (NYSE: EG), a provider of property and specialty insurance products, has signed a 66,444-square-foot office lease at 1155 Avenue of the Americas in Midtown Manhattan. The lease term is 15 years, and the deal brings the 42-story building to 93 percent occupancy. Eric Deutsch and Jared Freede of CBRE represented the tenant in the lease negotiations. Tom Bow, Rocco Romeo and Nora Caliban internally represented the landlord, The Durst Organization, which recently completed a $130 million renovation of the property.

April 17, 2024

Acquisitions Illinois Midwest Office

Stream Realty Partners Negotiates Sale of 247,000 SF Office Building in Chicago’s West Loop

by Kristin Harlow April 17, 2024

CHICAGO — Stream Realty Partners has negotiated the sale of 400 South Jefferson, a 247,000-square-foot office building in Chicago’s West Loop. The eight-story property is located at the intersection of Jefferson and Van Buren streets. Originally constructed in 1946 for the Newman-Rudolph Lithographing Co., the building underwent extensive renovations in 2013. Amenities include a town hall space, in-building parking for 80 cars, a rooftop deck, lounge and locker rooms. Mark Bâby and Patrick Russo of Stream represented the seller, Office Properties Income Trust. Jeff Skender and Craig Cassell of Cushman & Wakefield represented the buyer, The Chicago School. The RMR Group was the property manager.

April 17, 2024

Leasing Activity Office Texas

Dow Jones Opens 10,890 SF Office in West Houston

by Taylor Williams April 16, 2024

HOUSTON — Dow Jones has opened a 10,890-square-foot office at Town Centre One in West Houston. The space will serve as the hub for chemical markets analysis and will feature 64 workstations, nine meeting rooms and a collaborative breakout space. Shannon Unsicker and Brian Sapp of Fischer Corporate Real Estate represented Dow Jones in its site selection and lease negotiations. The opening is slated for this summer. The Instant Group handled the build-out of the space.

April 16, 2024

Development Georgia Office Southeast

Atlanta United Announces $23M Headquarters Expansion in Marietta, Georgia

by John Nelson April 16, 2024

MARIETTA, GA. — Major League Soccer (MLS) club Atlanta United has announced plans for a $23 million expansion to its Children’s Healthcare of Atlanta Training Ground headquarters facility in Marietta, roughly 20 miles northwest of Atlanta. The two-story, 20,000-square-foot addition will connect to the east wing of the existing facility and feature 4,000 square feed designated for its second team (ATL UTD 2) and the club’s five Academy teams. The space will also feature a dedicated gym, locker room and office space for Atlanta United’s six development teams and 20-plus staff members, as well as a dedicated classroom, two new digital content studios, a new podcast and esports studio and a press conference room. The expansion will bring the total footprint of the facilities to 50,000 square feet, with a total investment of $85 million. Completion of the project is scheduled for summer 2025.

April 16, 2024

Industrial Leasing Activity Maryland Office Southeast

St. John Properties Signs Clinical Research Firm to 116,000 SF Lease Expansion in Frederick, Maryland

by John Nelson April 16, 2024

FREDERICK, MD. — St. John Properties has signed a lease extension and expansion with Precision for Medicine at Riverside Tech Park, a 70-acre business and research and development (R&D) property in Frederick. Precision for Medicine, a clinical research organization, has occupied space at the park since 2006. Precision for Medicine currently occupies 75,000 square feet at 8425 Precision Way. With the new agreement, the tenant will occupy an additional 41,040 square feet at 8440 Broadband Drive, a new 52,080-square-foot flex R&D building at the development, utilizing the building for office and laboratory space. St. John Properties recently completed construction at Riverside Tech Park, which comprises more than 750,000 square feet across 14 buildings. The development is located adjacent to the National Cancer Institute (NCI) and is within a mile of the Frederick Municipal Airport.

April 16, 2024

Acquisitions Midwest Office Ohio

Namdar Realty Group, Mason Asset Management Acquire 1.3 MSF Office Tower in Cleveland

by Kristin Harlow April 16, 2024

CLEVELAND — Namdar Realty Group and Mason Asset Management have acquired 200 Public Square, a 1.3 million-square-foot office tower in Cleveland. Originally built for BP America in 1985, the building has undergone recent improvements. The buyers aim to enhance the property’s appearance, amenities, atrium and aging infrastructure. The building currently has 357,767 square feet of available office space being marketed for lease by Colliers. Chase Johnson and Caleb Riebe of Cushman & Wakefield arranged $45.7 million in acquisition financing through a life insurance company.

April 16, 2024

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