FORT WORTH, TEXAS — Worth Commercial Real Estate has purchased Magnolia Centre, a 31,000-square-foot historic office building located in Fort Worth’s Near Southside District. According to LoopNet Inc., the six-story building was originally constructed in 1926 and renovated in 1990. Worth Commercial plans to occupy space on the building’s fourth floor for its new headquarters and to lease the remainder. The seller and sales price were not disclosed.
FORT WORTH, TEXAS — Locally based brokerage firm Holt Lunsford Commercial has negotiated a 29,571-square-foot office lease renewal in Fort Worth. The space is located within Overton Centre, a two-building, 417,465-square-foot development on the city’s southwest side. Jake Neal and Matt Carthey of Holt Lunsford represented the landlord, an entity doing business as FLDR/TLC Overton Centre LP, in the lease negotiations. Jim Smith of Cushman & Wakefield represented the tenant, HCA Information Technology & Services.
FARMERS BRANCH AND DALLAS — Locally based financial intermediary ARZ Realty Capital has arranged the refinancing of two office buildings totaling roughly 400,000 square feet in the northern Dallas metro area. The Meridian is a 10-story, 227,000-square-foot building located along the LBJ Freeway in Farmers Branch. The other building is located at 12005 Ford Road in northwest Dallas and is known as NorthPointe Center. Ari Raskas of ARZ Realty Capital arranged the refinancings through two separate lenders on behalf of the buildings’ owner, Maitland Management.
MORRISTOWN, N.J. — Cushman & Wakefield has brokered the sale of a 439,059-square-foot office building in the Northern New Jersey community of Morristown. The building at 340 Mount Kemble Ave., which recently underwent a $50 million capital improvement program, was 94.5 percent leased at the time of sale. David Bernhaut, Gary Gabriel, Andy Merin, Frank DiTommaso and Bill Baunach of Cushman & Wakefield represented the seller, a partnership between Onyx Equities and Los Angeles-based PCCP, in the transaction. Brad Domenico, also with Cushman & Wakefield, arranged an undisclosed amount of acquisition financing through Societe Generale on behalf of the buyer, First Mile Capital, an affiliate of Crown Acquisitions.
NEW YORK CITY — S Rothschild has signed a 47,000-square-foot office lease renewal in Midtown Manhattan. The apparel manufacturer will remain at 1407 Broadway, a 1.1 million-square-foot, 43-story building that was originally constructed in 1950, for another 10 years. Peter Sabesan and Matthew Feigen of Cresa represented the tenant in the lease negotiations. Bob Forman represented the landlord, Shorenstein Properties, on an internal basis.
BOCA RATON, FLA. — A partnership between BH Group, PEBB Enterprises and Related Group has received site plan approval from the Boca Raton City Council for the mixed-use redevelopment of 6600 N. Military Trail, a 405,000-square foot property in Bacon Raton that serves as Office Depot’s headquarter campus. BH Group and PEBB will begin demolition on an existing office tower to start the construction of an eight-story building with 500 apartments, nearly 43,000 square feet of retail and restaurant space and a 37,000-square-foot fitness facility. Two existing office buildings will remain onsite, according to the development team. Office Depot recently consolidated its office footprint at the campus but will remain onsite for the foreseeable future, according to local media outlets.
WASHINGTON, D.C. — Marcus & Millichap has brokered the $4.3 million sale of 6400 Georgia Ave. NW, a 13-suite mixed-used property located in Washington, D.C. Situated in the northwestern neighborhood of Brightwood, the property totals 20,680 square feet across two floors. The first floor is fully leased with seven retail suites — including Subway and other long-term local businesses — that operate on a triple-net lease basis. The second floor features six office suites, all of which were vacant at the time of sale. According to LoopNet Inc., the property was built in 1952 and renovated in 2024 to include a new roof, sump pump and other building improvements. Lorenzo Wooten and Jacob Krens of Marcus & Millichap’s D.C. office marketed the property on behalf of the family that owned the property. The buyer was not disclosed.
FORT LAUDERDALE, FLA. — A partnership between affiliates of locally based firms Square2 Capital and Highline Real Estate Capital and Dallas-based Lone Star Funds has acquired Bank of America Plaza, a 410,561-square-foot office tower located at 401 East Las Olas Blvd. in Fort Lauderdale. The sales price was not disclosed, but South Florida Business Journal reports the property traded for more than $220 million. The 23-story tower — which was 94 percent leased at the time of sale — is situated on a full city block in the city’s Las Olas Financial District. Tenants at the property include Bank of America, Greenberg Traurig, Boies Schiller Flexner, Motorola Solutions and UBS. CBRE represented the seller, a global investment manager, in the transaction, and arranged acquisition financing on behalf of the buyer. Mike Manno of Square2 Capital will lead the property management responsibilities at Bank of America Plaza on behalf of the new ownership.
FORT LAUDERDALE, FLA. — Chicago-based Bradford Allen Investment Advisors has acquired Las Olas Centre I and II, a 470,810-square-foot luxury office complex located in Fort Lauderdale. The sales price was not disclosed, but South Florida Business Journal reports the property traded for $208 million. Originally built in 1997, Bradford Allen will invest $25 million in renovations for the property, including new office lobbies, technologically advanced conference rooms, a fitness center and outdoor space. Situated at 350 and 450 E. Las Olas Blvd., the complex offers easy access to I-95, as well as the Brightline train line and several bus routes. The properties — which stand 15 and 18 stories tall — were 69 percent occupied at the time of sale. Amenities at the complex include casual and fine-dining restaurants, Starbucks Coffee, onsite property management, concierge and 24/7 security services and a variety of bank branches. Jon Blunk and Laurel Oswald of Tower Commercial Real Estate (TCRE) will provide leasing efforts for the complex. Bradford Allen will provide asset and property management services. Las Olas Centre marks Bradford Allen’s first acquisition in the South Florida region.
GRETNA, LA. — The City of Gretna, Jefferson Parish and Formwork Development will host a grand opening today for Primary Workspace, a coworking and event venue built within a historic 1911 schoolhouse in downtown Gretna. The development was conducted in a public-private partnership between Jefferson Facilities Inc. and Formwork Development on behalf of Jefferson Parish and the City of Gretna. Architect and interior designer Studio BKA followed a three-part approval process to preserve the building’s historical integrity while incorporating modern updates and collaborated with the Louisiana Historic Preservation Office to ensure the renovation met the Secretary of Interior’s Guidelines for Historic Preservation. The $3.5 million renovation was funded with $2.7 million in funding from the American Rescue Plan Act and $800,000 of Louisiana State Historic Tax Credits. Located at 519 Huey P Long Ave., the nearly 20,000-square-foot development offers flexible coworking office space and special event rental options within the repurposed primary school, which features original architectural details and updated systems and amenities such as a revived two-story auditorium, rebuilt proscenium arch and stage, private offices, meeting rooms and hot desks. An additional 2,800 square feet is available for lease on the first floor alongside the German-American Cultural Center & Museum, …