MCHENRY, ILL. — Entre Commercial Realty has brokered the sale of a 21,500-square-foot office building located at 420 Front St. in McHenry for an undisclosed price. The two-story property was built in 2000. Dan Jones, Dan Benassi and Sam Deihs of Entre represented the seller, Glacier Properties. Community Consolidated School District 15 purchased the buildings with plans to utilize it as a new central office for the McHenry School District.
PARAMUS, N.J. — Valley Medical Group has signed a 22,500-square-foot office lease at Paramus Corporate Center in Northern New Jersey. The tenant will occupy most of the first floor at the four-story, 119,846-square-foot building, which was recently renovated. Jeffrey Prezant of Cushman & Wakefield represented the landlord, American Equity Partners, in the lease negotiations. Peter Hamburger, Robert Rudin and Jan Randall, also with Cushman & Wakefield, represented the tenant.
NORTH CHARLESTON, S.C. — Jamestown, along with local real estate developers Weaver Capital Partners and WECCO Development, has broken ground on the first buildings at Navy Yard Charleston, the 79-acre mixed-use redevelopment of a former naval base in North Charleston. This first phase of the redevelopment involves converting two historic storehouses — Storehouse 8 and Storehouse 9 — on the project site into a total of 107,000 square feet of mixed-use space for restaurants, retail, office space and apartments. The buildings are scheduled to open in 2024. The 40,000-square-foot, two-story building known as Storehouse 8 will be restored and repurposed as a restaurant, event space and offices. To preserve the history and character of the building, which was constructed in 1906 as naval administrative offices, the renovation will salvage architectural details such as the original hallways, trim, railings, flooring, slate roof and copper soffits. The adjacent Storehouse 9, a 67,000-square-foot, four-story building constructed in 1918 as naval administration offices and storage facility, will be converted into restaurant and retail space on the ground floor, a rooftop bar and restaurant with views of the Cooper River and 86 multifamily units offering flexible live/work layouts. In addition to the redevelopment of Storehouses …
MIAMI — Whalou Properties has received $24 million in financing for the improvement and modernization of Mayfair in the Grove, a mixed-use development in Miami’s Coconut Grove neighborhood that comprises 281,721 square feet of office and retail space. Craig Romer of Dockerty Romer & Co. arranged the permanent mortgage financing through Guggenheim Partners on behalf of Whalou, which is owned and controlled by Timo Kipp. Mayfair in the Grove was fully leased at the time of sale to tenants including Sapient, Santander, Sony Music and One Park Financial. Whalou acquired the development in 2010.
ITASCA, ILL. — AIT Worldwide Logistics has signed a 56,808-square-foot office lease at Two Pierce Place in Itasca. The office will serve as the global headquarters for the transportation management provider, which maintains more than 100 locations worldwide, including regional headquarters in London and Hong Kong. Rob Lundin and John Norris of Newmark represented the landlord, Sovereign Partners LLC. Eric Kunkel, Steve Spinell and Darren Eades of JLL represented the tenant. Two Pierce Place rises 25 stories and totals 490,000 square feet. The property features a newly completed amenity center, including a tenant lounge, outdoor patio, putting green, bocce court, fitness center, full-service deli and conference facility.
OCEAN TOWNSHIP, N.J. — Marcus & Millichap has brokered the $5.3 million sale of a 25,000-square-foot office building in the coastal New Jersey community of Ocean Township. Built in 1986, the two-story building was fully leased at the time of sale to law firm Ansell, Grimm, & Aaron PC, which has occupied the entirety of the property since 1996. Alan Cafiero, Brent Hyldahl and Seth Goldberg of Marcus & Millichap represented the seller in the transaction. Kevin Taub, also with Marcus & Millichap, procured the buyer. Both parties were limited liability companies.
NEW YORK CITY — Accounting firm Baker Tilly has signed a 28,000-square-foot office lease at The Spiral, a 66-story office tower in Midtown Manhattan. The newly built, 2.8 million-square-foot building is now 72 percent leased, with financial services firm HSBC serving as the anchor tenant. Geoffrey Euston, David Glassman and Joe Cabrera of CBRE represented Baker Tilly, which plans to move in to its space on the 22nd floor later this year, in the lease negotiations. The landlord, Tishman Speyer, was represented internally.
ARLINGTON, VA. — MRP Realty and LaSalle Investment Management are nearing completion of the redevelopment and rebranding of Crystal & Clark, previously known as Century Center, in the National Landing neighborhood of metro Washington, D.C. Located at 2450 Crystal Drive and 2461 S. Clark St. in Arlington, the mixed-use development comprises two buildings and spans 639,621 square feet. 2450 Crystal Drive features 336,229 square feet of office space and 51,443 square feet of retail space, 36,000 square feet of which is leased or under negotiation. 2461 South Clark comprises 232,969 square feet of office space and 23,980 square feet of retail space, 5,000 square feet of which is currently leased. Aerospace and defense manufacturing giant Raytheon recently renewed its lease at the development in 2021 for 120,000 square feet of office space across both buildings. The redevelopment has included new access to outdoor seating and gathering areas, the addition of ground-level retail and restaurant space, a pedestrian plaza, streetscape improvements and office improvements including lobby updates, a new conference center, fitness and locker rooms, second- and third-floor terraces and amenity space. Plans for the property also include the construction of a 334,270-square-foot residential tower comprising 302 units and 21,863 square …
CHICAGO — Globetrotters Engineering Corp. has renewed its 23,376-square-foot office lease at 300 South Wacker in Chicago’s central business district. The engineering firm is relocating to the building’s third and fourth floors after having previously occupied the second and fourth floors. The tenant, which has occupied space at the building since the 1980s, is also redesigning its workspace. Josh Feldman of Cushman & Wakefield represented the tenant in the 11-year lease. Sandy Macaluso of Golub represented the landlord on an internal basis. Globetrotters maintains more than 175 employees at 300 South Wacker.
NEW YORK CITY — HBK Capital Management has signed a 16,428-square-foot office lease at 452 Fifth Avenue in Midtown Manhattan. The alternative investment firm will occupy the entire 22nd floor at the 30-story building. Paul Glickman, Ben Bass, Kristen Morgan and Kate Roush of JLL represented the landlord, Property & Building Corp. Ltd., in the lease negotiations. Silvio Petrillo and Tamika Kramer of CBRE represented the tenant.
