Office

Port San Antonio Board of Directors Approves Next Step in Development of 300,000 SF Innovation Tower

by Kristin Harlow March 19, 2025

SAN ANTONIO — The Port San Antonio Board of Directors has unanimously approved the next step in the development of Innovation Tower, an office project on the 1,900-acre Tech Port campus, located just southwest of downtown San Antonio. Port San Antonio is a public entity created to redevelop land formerly occupied by Kelly Air Force Base. Yesterday, the board approved $7.5 million to move the tower from its preliminary phase to the finalization of architectural plans, budget and schedule. The design phase is expected to last about one year, with groundbreaking slated for 2026 and completion by 2028. Project costs are estimated at roughly $275 million, according to the San Antonio Business Journal. The multi-story Innovation Tower, which will be located at the main entrance of the campus, will support growing demand by adding nearly 300,000 square feet of high-end office space. The tower will also include 27,000 square feet of amenity spaces such as a health and wellness center, sauna, locker rooms and a large conference room. Pelli Clarke & Partners designed the tower, with architect Bill Butler leading the project. The tower is a component of a broad innovation campus development strategy the organization unveiled in fall 2024. …

March 19, 2025

Acquisitions New Jersey Northeast Office

CBRE Negotiates $10.2M Sale of Northern New Jersey Office Building

by Taylor Williams March 18, 2025

PARSIPPANY, N.J. — CBRE has negotiated the $10.2 million sale of a 79,766-square-foot office building in the Northern New Jersey community of Parsippany. According to LoopNet Inc., the building at 299 Cherry Hill Road was originally constructed in 1977 and renovated in 2021. Capital improvements included a redesign of the exterior façade; updated roadway signage, a new electronic tenant directory and LED lighting in the lobby and a new tenant amenity center with grab-n-go food service, conference room and a huddle room. Charles Berger and Thomas Mallaney of CBRE represented the seller and procured the buyer in the transaction.

March 18, 2025

Leasing Activity New York Northeast Office

NY E-Health Collaborative Signs 15,000 SF Office Lease in Midtown Manhattan

by Taylor Williams March 18, 2025

NEW YORK CITY — NY E-Health Collaborative has signed a 15,000-square-foot office lease in Midtown Manhattan. The nonprofit networking organization for healthcare professionals is taking space at 5 Penn Plaza, which is located within Hudson Yards and was recently repositioned. Mitch Konsker, Christine Colley, Kristen Morgan, Greg Wang, Kate Roush and Dan Turkewitz of JLL represented the landlord in the lease negotiations. Joe Speck and Reid Longley of Colliers represented the tenant.

March 18, 2025

Acquisitions Michigan Midwest Office

Colliers Negotiates Sale of 56,920 SF Flex Office Building in Northville, Michigan

by Kristin Harlow March 18, 2025

NORTHVILLE, MICH. — Colliers has negotiated the sale of a 56,920-square-foot flex office building in Northville for an undisclosed price. The property is located at 22300 Haggerty Road. Metro Engineering Solutions, an engineering company, is moving into the space in April. The company maintains several other locations in Michigan. John Fricke and Jonathan Loos of Colliers represented the buyer.

March 18, 2025

Acquisitions Industrial Office South Carolina Southeast

CBRE Arranges $13.8M Sale of Flex Property in Columbia, South Carolina

by John Nelson March 17, 2025

COLUMBIA, S.C. — CBRE has arranged the $13.8 million sale of 20/21 Business Center, a 98,386-square-foot flex property located in Columbia. Red Bank, N.J.-based Denholtz was the buyer. Matt Smith, Patrick Gildea, Robert Hardaway, Aaron Dupree and Marie Diekmann of CBRE represented the seller, CB Equities, in the transaction. Situated on 17.6 acres, the property — which was 98 percent leased at the time of sale — comprises three buildings and three vacant land parcels. Additional features of the center include interstate visibility and expansion opportunities, as well as 17 dock doors and 10 drive-in doors. CBRE originally arranged CB Equities’ acquisition of the property in May 2022 for $10.5 million.

March 17, 2025

Acquisitions Life Sciences Massachusetts Northeast Office

Shorenstein, Tritower Buy 480,000 SF Office, Life Sciences Campus in Bedford, Massachusetts

by Taylor Williams March 14, 2025

BEDFORD, MASS. — A joint venture between San Francisco-based Shorenstein Investment Advisors and Boston-based investment firm Tritower has purchased The Xchange, a 480,000-square-foot office and life sciences campus in Bedford, located northwest of Boston. The site of the eight-building development is located along State Route 3 and adjacent to the interchange with State Route 128 and can support future expansion. At the time of sale, The Xchange was 99 percent leased to tenants in industries such as robotics, battery development, diagnostic instruments and advanced materials technology. The seller and sales price were not disclosed.

March 14, 2025

Delaware Loans Northeast Office

D2 Capital Advisors Arranges $26M Permanent Loan for Life Sciences Building in Wilmington, Delaware

by Taylor Williams March 14, 2025

WILMINGTON, DEL. — D2 Capital Advisors, a Philadelphia-based intermediary, has arranged a $26 million permanent loan for an 80,000-square-foot life sciences building in Wilmington. The building was completed in 2023 as part of the redevelopment of the 164-acre Chestnut Run Innovation & Science Park. The building was fully leased at the time of the loan closing to Prelude Therapeutics, which develops cancer treatment drugs. Jack Cortese, David Frankel and John Lightcap of D2 arranged the loan on behalf of the borrower, Pennsylvania-based developer MRA Group. The direct lender was not disclosed.

March 14, 2025

One-Jefferson-Road-Parsippany-New-Jersey

Acquisitions New Jersey Northeast Office

Signature Acquisitions Buys 100,010 SF Office Building in Parsippany, New Jersey

by Taylor Williams March 13, 2025

PARSIPPANY, N.J. — Signature Acquisitions has purchased a 100,010-square-foot office building in the Northern New Jersey community of Parsippany. Built on 8.5 acres in 2009, the building was fully leased at the time of sale to law firm Day Pitney, which is in the process of relocating. Jose Cruz, Jeremy Neuer, Ryan Robertson and Bradley Wachenfeld of JLL represented the seller, Office Properties Income Trust, in the transaction and procured Signature Acquisitions as the buyer.

March 13, 2025

Acquisitions District of Columbia Office Southeast

Onward Investors Takes Full Ownership of 12-Story Office Building in DC

by John Nelson March 13, 2025

WASHINGTON, D.C. — Onward Investors has taken full ownership of 100 M Street SE, a 12-story, 240,500-square-foot office building in Washington, D.C.’s Navy Yard district. The Minneapolis-based investment firm acquired the property’s senior loan last April. The previous owner and terms of the transaction were not disclosed, but Washington Business Journal reported that Houston-based Lionstone Investments sold the property for nearly $54 million as part of its initiative to offload its $5.5 billion portfolio. Situated near the Navy Yard-BallPark Metro station, the office building is currently 78 percent leased and features about 16,000 square feet of contiguous availability, as well as newly installed amenities including a rooftop terrace, tenant lounge and conference center.

March 13, 2025

Acquisitions Colorado Mixed-Use Office Restaurant Retail Western

Revitalization Unlimited Acquires 34,160 SF Mixed-Use DeGraff Building in Colorado Springs

by Amy Works March 13, 2025

COLORADO SPRINGS, COLO. — Revitalization Unlimited has purchased The DeGraff Building, a mixed-use property at 118 N. Tejon St. in Colorado Springs. Terms of the transaction were not released. The four-story, 34,160-square-foot building features 18 rental units, 16 of which are currently leased. For the past decade, Oskar Blues Grill & Brew has occupied the first floor and basement, while the upper floors are used as office space. Built in 1897, The DeGraff Building is listed on the National Register of Historic Places.

March 13, 2025

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