AURORA, ILL. — A U.S. division of global technology firm Thales has moved into its new office at 750 N. Commons Drive in Aurora. Stanton Road Capital owns the Class A office and industrial property, which totals 205,068 square feet and is fully leased. Thales moved from a previous location in Aurora and made the new space the home of its Visionix division, which develops helmet-mounted display and motion tracking technologies for aerospace and defense use. Using tenant improvement investments from Stanton Road Capital, Thales transformed its space to integrate office and meeting areas with advanced research and design features such as cockpit simulators. Francis Prock, David Florent and Brian Kling of Colliers are the exclusive leasing agents for the building. Kelleen Monti, Chris Bynum and Madelyn Farmer of JLL represented Thales.
BURLINGTON, MASS. — Newmark has arranged a 47,578-square-foot office and life sciences lease in Burlington, a northwestern suburb of Boston. The tenant, metals processor Nth Cycle Inc., has committed to leasing space at Blue Sky Center, a 158-acre campus. Matt Malatesta, Tyler McGrail, Michael Frisoli and Margaret Fee of Newmark represented the owner, Nordblom Co., in the lease negotiations. Nick Amarante and Mekae Hyde of Hughes Marino represented the tenant. Amenities at Blue Sky Center include a fitness center, café, basketball court, gaming area and a golf simulator.
CHARLOTTE, N.C. — Northridge Capital, an independent real estate management firm based in Washington, D.C., has sold a historic creative office building in Charlotte’s FreeMoreWest submarket. An undisclosed real estate investment firm based in Charlotte purchased Grinnell Water Works, located at 1435 W. Morehead St., for $19.2 million. Alex Olofson of Stream Realty Partners and Jared Londry of PointBlank Ventures represented Northridge Capital in the transaction. Grinnell Water Works was built in 1930 and offers approximately 52,000 square feet of rentable office space across two floors. The asset was 70 percent leased at the time of sale.
PLANO, TEXAS — Dallas-based developer Cawley Partners is underway on construction of Phase II of The Parkwood, a project in Plano that will add 120,000 square feet of office space to the local supply. Phase I of The Parkwood, which also comprises 120,000 square feet, was completed in late 2022 and is fully leased to First United Bank. Phase II is 43 percent preleased, with SFMG Wealth Advisors committed as the anchor tenant with a 22,000-square-foot lease. Amenities at The Parkwood include a fitness center, pickleball court, conference centers and rooftop terraces.
DENVER — Crestone Partners has received a $66 million refinancing for a 279,188-square-foot office property in Denver. The asset consists of two interconnected, Class A office towers in Denver’s LoDo submarket. The space is nearly 95 percent leased to 13 tenants. There is also 25,188 square feet of ground-floor retail space and a 467-space parking garage on the first and second floors. JLL’s Bob Flynn, Garth Tait, Dave Meares and Heidi McKernan represented the borrower and operator, Crestone Partners, to secure the five-year, fixed-rate loan through an international correspondent life insurance company.
DEERFIELD, ILL. — Bradford Allen has negotiated two leases totaling 35,000 square feet at 570 Lake Cook Road, a five-story office building in the northern Chicago suburb of Deerfield. The 138,000-square-foot office building was renovated last year. Venture X signed a 19,000-square-foot lease to open a new coworking location. Expected to open later this year, the location will be the company’s second within Chicagoland. Joel Berger of Bradford Allen represented ownership, while Vic Sanmiguel of Bespoke Commercial Real Estate represented the tenant. Planning and design consulting firm Kimley-Horn signed a long-term extension and expanded its footprint to 16,000 square feet. Berger represented ownership, while Hayden Rasmussen and Jon Azulay of Savills represented the tenant.
CHESTER, N.J. — Dynamic Engineering Consultants has signed a 15,486-square-foot office lease expansion at 245 Main St. in the Northern New Jersey community of Chester. Dynamic Engineering has been a tenant at the property, which was originally built in the 1920s as a school building and converted to office usage in 2017, since 2006. Rob Marek represented the landlord, Larken Associates, in the lease negotiations on an internal basis.
KANSAS CITY, MO. — The National Association of Insurance Commissioners (NAIC) has renewed its office lease at Eleven Eleven Main in Kansas City. The tenant plans to renovate its space, which totals about 109,000 rentable square feet across the fourth floor and floors eight through 11. Owner Copaken Brooks is involved in the property and construction management for the renovation project. Ryan Biery of Copaken Brooks represented ownership alongside CBRE’s Rollie Fors and Brice Shamberger. Sven Sykes, Tom Volini and Bryan Johnson of Colliers represented NAIC.
DALLAS — New York-based Fortis Property Group will renovate and rebrand Chase Tower, a 55-story, 1.2 million-square-foot office building located at 2200 Ross Ave. in downtown Dallas. The centerpiece of the project will be the reimagining of the lobby, including the installation of a new art gallery with pieces by local artists. New lighting and flooring will accentuate the artwork, and ownership will also upgrade the elevator cabs. Lastly, Fortis will rebrand the property as Dallas Arts Tower and add two new food-and-beverage concepts, a café and a Greek restaurant. Stream Realty Partners leases the building. CBRE represented the restaurant operator, Milkshake Concepts, in its negotiations to lease the lobby space.
RICHARDSON, TEXAS — Marcus & Millichap Capital Corp. (MMCC) has arranged a $4.7 million acquisition loan for a roughly 10,000-square-foot office building located at 1140 W. Campbell Road in Richardson, a northeastern suburb of Dallas. The borrower, a partnership between Brytar Cos. and EvCap Investment, plans to convert the building into an early learning and daycare facility that will be operated by The Montessori School. Kevan McCormack of MMCC originated the financing through an undisclosed direct lender.