Office

Brinkmann Constructors Breaks Ground on New Headquarters for First Bank in Creve Coeur, Missouri

by Kristin Harlow March 28, 2023

CREVE COEUR, MO. — Brinkmann Constructors has broken ground on the new office headquarters for First Bank in Creve Coeur, a western suburb of St. Louis. The project consists of two office buildings totaling 169,000 square feet as well as a retail bank branch. First Bank’s original headquarters, built in 1967, was demolished in order to make space for the new headquarters. Completion is slated for spring 2024. The project team includes Lamar Johnson Collaborative, IMEG Corp., CEDC Civil Engineering Design Consultants and Cobalt Construction Consulting.

March 28, 2023

Illinois Leasing Activity Midwest Office

Hanley Flight & Zimmerman Signs 13,943 SF Office Lease at CME Center in Chicago

by Kristin Harlow March 28, 2023

CHICAGO — Hanley Flight & Zimmerman, a patent and intellectual property law firm, has signed a 13,943-square-foot office lease at Chicago’s 10 South Wacker, otherwise known as CME Center. The building features amenities such as a lounge, conferencing center, fitness facilities and a riverside restaurant and wine bar. Nathan Miller, Andrew Davidson and Kyle Robbins of Transwestern Real Estate Services represented the tenant. Olivia Parker and Adam Mitchell of Tishman Speyer represented the landlord, 10-30 South Wacker LLC.

March 28, 2023

Georgia Leasing Activity Office Southeast

TSA Signs 44,000 SF Office Lease Near Hartsfield-Jackson Atlanta Airport

by John Nelson March 27, 2023

EAST POINT, GA. — The Transportation Security Administration (TSA) has signed a 44,000-square-foot, long-term office lease at 1500 Centre Parkway in East Point, roughly seven miles west of Hartsfield-Jackson Atlanta International Airport. Caroline Fisher, Hunter Henritze and Michael Howell of Lincoln Property Co. Southeast arranged the lease on behalf of the landlord, a partnership between SGP Real Estate, Hight Property Group and Knox Properties. This lease brings the office building, which comprises 97,696 square feet total, to 95 percent occupancy and marks the second long-term federal user signed to the building by Lincoln and Lincoln’s Government Services Group (GSC), following the U.S. General Services Administration’s 29,737-square-foot lease agreement in late 2020. Originally built in 2008 and situated within a 320-acre landscaped park, the property was renovated in 2018 and features an updated lobby, onsite amenities and flexible floor plates.

March 27, 2023

Leasing Activity Office Texas

Swinerton Signs 11,000 SF Office Lease in Downtown Dallas

by Taylor Williams March 27, 2023

DALLAS —Swinerton has signed an 11,000-square-foot office lease at 2200 Main St. in downtown Dallas. The construction management firm will occupy the entire third floor of the five-story, 65,565-square-foot building and has partnered with IA Interior Architects to design and build out its new office space. Scott Hage of JLL represented Swinerton in the lease negotiations. Ben Davis of CBRE represented the landlord, locally based investment firm Todd Interests.

March 27, 2023

Development Leasing Activity Office Southeast Tennessee

The Malin to Open 16,000 SF Coworking Space in Nashville

by John Nelson March 27, 2023

NASHVILLE, TENN. — The Malin, a work-focused members club, will open a 16,000-square-foot coworking location in Nashville’s Wedgewood-Houston neighborhood this fall. Located within Nashville Warehouse Co., the city’s first mass timber building, the space will comprise 48 dedicated desks, seven private offices, six meeting rooms and a library. AJ Capital Partners is leading the development of the project. Other committed tenants at Nashville Warehouse Co.’s 5.2-acre campus include Soho House Nashville, Apple Music, Live Nation, Red Bull and Pastis, a French restaurant also set to open this year.

March 27, 2023

Leasing Activity Midwest Minnesota Office

Law Firm Husch Blackwell Inks 9,300 SF Office Lease in Minneapolis

by Kristin Harlow March 27, 2023

MINNEAPOLIS — Husch Blackwell has signed a 9,300-square-foot office lease at IDS Center in downtown Minneapolis. The office marks the law firm’s first Twin Cities location. Adam Barrett and Sven Sykes of Colliers represented the tenant. Accesso owns the property, which totals 1.4 million square feet and rises 57 stories.

March 27, 2023

Acquisitions Colorado Loans Mixed-Use Office Retail Western

Essex Arranges $32M Acquisition Financing for Mixed-Use Property in Denver

by Jeff Shaw March 27, 2023

DENVER — Essex Financial Group has secured $32 million in financing for the purchase of 2nd & Josephine, a 105,253-square-foot mixed-use property in Denver. Comprising four buildings, the development was fully leased at the time of sale. Bank of America anchors the property, which features retail and office space, as well as 260 parking spaces. Paul Donahue, Cooper Williams, Nate Schneider and Andrea Mehlem of Essex arranged the seven-year, fixed-rate loan through an undisclosed life insurance company on behalf of the buyer.

March 27, 2023

Alabama Market Reports Office Southeast Southeast Market Reports

Birmingham Remains a Healthy Market for Office Landlords, Tenants

by John Nelson March 27, 2023

Birmingham’s office market is facing many of the same challenges our peer markets are encountering. Lingering economic uncertainties have created a very cautious environment. Most tenants and business owners I speak with are either cautiously pessimistic or cautiously optimistic about the economy. Regardless of which side is right, economic projections for 2023 have caused a general slowdown in deal flow as decision makers have become more guarded with business decisions and commitment levels. Is there cause for concern in Birmingham? Historically, Birmingham’s office market has remained stable during challenging times, dodging the extreme highs and lows as markets ebb and flow nationwide. Birmingham’s office market consists of approximately 19 million square feet of multi-tenant inventory across five submarkets, four of which have Class A inventory. Fundamentals, subleases As of fourth-quarter 2022, the occupancy rate for Birmingham’s office market sits at 83.8 percent. For the same period over the last five years, the occupancy rate has only slightly fluctuated year-over-year, ranging from 86.1 percent in fourth-quarter 2018 to 83.8 percent in fourth-quarter 2020. The current rate is at 83.8 percent, illustrating consistency throughout a very problematic time for the office sector. Birmingham’s office sublease inventory is rising, but again, not to …

March 27, 2023

Acquisitions Georgia Loans Office Southeast

Cushman & Wakefield Arranges $8.6M Acquisition Loan for Former PGA of America Office Building in South Florida

by John Nelson March 24, 2023

PALM BEACH, FLA. — Cushman & Wakefield has arranged an $8.6 million acquisition loan for the purchase of an office building located at 100 Ave. of Champions in Palm Beach. Totaling two stories and 42,090 square feet, the property served as PGA of America’s headquarters since its construction more than 50 years ago prior to the organization’s relocation to Frisco, Texas. Jason Hochman and Ron Granite of Cushman & Wakefield secured the financing through a local bank on behalf of the borrower, Blue Water Advisors LP, which plans to convert the property to a multi-tenant building.

March 24, 2023

Leasing Activity Office Texas

Suderman & Young Towing Signs 6,000 SF Office Lease in Houston

by Taylor Williams March 24, 2023

HOUSTON — Suderman & Young Towing Co., which provides towing and other ship assistances to a variety of vessels, has signed a 6,000-square-foot office lease at East River, a 150-acre mixed-use development in Houston’s Historic Fifth Ward. Griff Bandy of Partners Real Estate represented the tenant, which will relocate its headquarters to East River, in the lease negotiations. Brandi McDonald Sikes and Sobi Qazi with SVN | J. Beard Real Estate — Greater Houston represented the landlord, locally based developer Midway.

March 24, 2023

Newer Posts

Older Posts