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.
NASHVILLE, TENN. — Tech giant Oracle has expanded its footprint at Radius, a nine-story office building located at 601 11th Ave. N in Nashville’s Gulch district. The company is expanding its footprint from 31,580 square feet to 100,000 square feet. Rubicon Equities, the landlord of Radius, also recently signed a new lease with CoreTrust, a locally based commercial sourcing agency. The company leased the entire seventh floor, totaling 31,580 square feet. In addition to offices, Radius features a fitness center with lockers and showers, café, onsite security, rooftop terrace, 18,500 square feet of ground-level retail space and a parking garage with 900 spaces. Stream Realty Partners is the property manager for the building and shares the leasing assignment with Sandeema Co. There is currently 125,000 square feet of space available for lease.
TAMPA, FLA. — A joint venture between Torose Equities, Merrimac Ventures and Linkvest Capital has purchased Interstate Corporate Center, a 350,000-square-foot office complex on Tampa’s east side. The property is located on a 50-acre site at 6302 E. Dr. Martin Luther King Jr. Blvd., about six miles from downtown Tampa. An entity doing business as B&L Investments Interstate LLC sold the property for $31 million. Dale Peterson, Joe Chick, Kristen Hagen, Courtney Snell and Nick Sharpe of CBRE represented the seller in the transaction. Built in 1984 and renovated in 2018, Interstate Corporate Center was 80 percent leased at the time of sale to tenants such as Hillsborough County School Readiness Coalition Inc., Ashley Furniture Industries Inc., HealthPlanOne and the Florida Department of Revenue Child Support Services. The largest tenant, Concentrix CVG Customer Management Group Inc., occupies 81,134 square feet.
CINCINNATI — JLL Capital Markets has brokered the sale of a two-building office portfolio totaling 303,130 square feet in Cincinnati for an undisclosed price. The first asset, 400 Oak St., rises seven stories and spans 156,000 square feet. Originally built in 1924, the building was renovated in 2011. The second property, 2905 Vernon Place, is a four-story, 147,130-square-foot building that was constructed in 2017. The two properties are fully leased to Cincinnati Children’s Hospital Medical Center for administrative functions and other nonclinical uses. Jaime Fink, Bruce Miller, Sam DiFrancesca and Patrick Shields of JLL represented the seller, 90 North Real Estate LLP, and procured the buyer, Azora Exan. Keith Largay and Lucas Borges of JLL arranged acquisition financing on behalf of the buyer.
PLAINFIELD, ILL. — Marcus & Millichap has negotiated the $3 million sale of a 20,281-square-foot office building in Plainfield, about 40 miles southwest of Chicago. Located at 23909 W. Renwick Road, the property is fully occupied and features a new roof and parking lot. The seller, a Chicagoland limited liability company, purchased the building a little over a year ago and decided to sell it after marking repairs and adding tenants. Tammy Saia and Tami Andrew of Marcus & Millichap represented the seller. The buyer was undisclosed.
AUBURN HILLS, MICH. — Bernard Financial Group has arranged $2 million in permanent financing for a 21,256-square-foot office property in Auburn Hills. Dennis Bernard and Joshua Bernard arranged the loan on behalf of the borrower, Auburn Office Center LLC. StanCorp Life Insurance Co. provided the loan, terms of which were undisclosed.