THE WOODLANDS, TEXAS — Houston-based brokerage firm Cypressbrook Co. has negotiated the sale of a 39,000-square-foot office building located on Houston’s northern outskirts in The Woodlands. According to LoopNet Inc., the property was built in 1981. John Hornbuckle of Cypressbrook, along with Rick Hazard of Realty Services Group, represented the seller, Woodmark Capital, in the transaction. Will Austin of Bridge Commercial represented the buyer, Milner Properties.
CHICAGO — Tishman Speyer has secured lease renewals with Katten and Chubb at 525 West Monroe Street in Chicago’s West Loop. Law firm Katten was among the first companies to commit to the 25-story office building upon its completion in 1983. Katten will maintain its headquarters across 204,000 square feet. As part of the lease negotiation, Tishman Speyer will create two new outdoor terraces for Katten’s exclusive use. Chubb, a publicly traded property and casualty insurance company, has been based at the office property for more than two decades. The firm signed a lease for 92,032 square feet and will consolidate its local workforce from three downtown Chicago offices into a newly designed space. Tishman Speyer is finalizing a major renovation of 525 West Monroe, including a new outdoor plaza, entrances and lobby. Designed by Michaelis Boyd Associates and MDEAS, the hospitality-inspired lobby incorporates a variety of seating areas for gathering, working and dining. Tishman Speyer is also introducing The Foyer, an all-day café concept created in partnership with Infuse Hospitality. The Foyer, which will include a bar and table service plus outdoor seating, will serve breakfast and lunch, grab-and-go offerings, craft coffee and curated cocktails to building occupants and …
BURLINGTON, VT. — Metro Boston-based mortgage banking firm Fantini & Gorga has arranged a $12 million loan for the refinancing of Gateway Square, a two-building office complex in Burlington, located in northwestern Vermont. The buildings are located at 30 and 40 Main St. and were both completed in 1999. Wayne Clough and Colin Monahan of Fantini & Gorga placed the loan with a regional bank on behalf of the borrower, Investors Corp. of Vermont Properties.
HAVERHILL, MASS. — Locally based design-build firm Dacon Corp. has completed a 135,000-square-foot headquarters facility in Haverhill, located north of Boston. The project is a build-to-suit for Edwards Vacuum, which designs and produces advanced technology parts for a variety of industries. The two-story facility, which will be used for cryopump manufacturing, houses spaces for manufacturing, lab work, offices and warehousing and is LEED certified.
MILWAUKEE — Northwestern Mutual, an American financial services and insurance organization, has announced plans to invest $500 million to improve its downtown Milwaukee headquarters. The principal part of the investment will go to the overhaul of its North Office Building, a 540,000-square-foot building located at 818 E. Mason St. overlooking Milwaukee Bay. As part of the company’s plans, employees will be relocated from Northwestern Mutual’s suburban campus in nearby Franklin over the next three to five years. Nearly 2,000 employees will transition to the reimagined downtown campus, which is designed to accommodate planned company growth. “We are doubling down on our Milwaukee campus by investing in the future of the workplace for Northwestern Mutual and a thriving downtown community,” says John Schlifske, chairman, president and CEO of Northwestern Mutual. “Our strategic investment will further our goal of creating an unparalleled campus experience, fostering connection and collaboration across employees, financial representatives and the community while attracting and retaining the next generation of talent right here in southeast Wisconsin.” Northwestern Mutual’s improvements include full interior and exterior renovations to mirror the company’s adjacent Tower and Commons building. The North Office Building was delivered in 1990 whereas Tower and Commons debuted in 2017. …
KINGWOOD, TEXAS — SVN | J. Beard Real Estate has arranged the sale of a 25,669-square-foot office building located at 1710 W. Lake Houston Parkway in Kingwood, about 30 miles north of Houston. The two-story building was originally constructed in 2007. Jeff Beard of SVN | J. Beard Real Estate represented the seller, Woodforest National Bank, in the deal. Bonnie Pfrenger, also with SVN | J. Beard, represented the buyer, an entity doing business as Fire King Holdings LLC.
NEW YORK CITY — Ireland House, a civic body that represents the Irish government in the United States, has signed a 43,108-square-foot office lease at 200 Park Avenue in Manhattan. David Goldstein, Jim Wenk, Sam Mann and Allison Buck of Savills represented the tenant in the lease negotiations. Megan Sheehan, Gus Field and Sam Brodsky internally represented the landlord, Tishman Speyer.
NEW YORK CITY — Cresa has negotiated an 18,476-square-foot office lease at One Madison Avenue in Midtown Manhattan. The tenant, alternative investment firm 777 Partners, has committed to the entire 27th floor for a 15-year term. Peter Sabesan and Gregg Cohen of Cresa represented the tenant in the lease negotiations. Paul Glickman, Alexander Chudnoff, Diana Biasotti and Benjamin Bass of JLL represented the landlord, SL Green.
CHICAGO — Baird & Warner has brokered the sale of a nearly 29,000-square-foot office and retail building in Chicago’s Streeterville neighborhood for $6.2 million. Located at 212 E. Ohio St., the property is one block east of the city’s Magnificent Mile. Originally constructed in 1965, the five-story building is fully leased to tenants such as @properties Christie’s International Real Estate and Central City Productions. Brant Sichko of Baird & Warner represented the undisclosed buyer. Mike Rourke and Dan Stratis of @properties represented the sellers, Theus Property Holdings LLC and Miden Property Holdings LLC.
DURHAM, N.C. — Crescent Communities has begun renovations at SouthCourt, a 140,000-square-foot office building located in south Durham. The Charlotte-based developer purchased the six-story asset last year. Renovations include the addition of outdoor patio space and four turnkey office suites that will be available for occupancy in the second quarter, as well as improvements to the lobby, commons areas and restrooms. Additional onsite amenities will include a personal training facility, full-service salon, private terraces on upper floors and a modern conference center. On the ground floor, retail space is available for leasing through CBRE | Raleigh, including café and commercial kitchen spaces. Crescent Communities has tapped Dennis Hurley and Hillman Duncan of JLL’s Raleigh office to handle SouthCourt’s office leasing assignment.