Wednesday, November 19, 2025
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AcquisitionsFloridaOfficeSoutheast

PEBB, Intalex Capital Acquire 343,500 SF Office Building in Downtown Fort Lauderdale

by John Nelson

FORT LAUDERDALE, FLA. — PEBB Capital and Intalex Capital, in partnership with CDS International Holdings Inc., have acquired 110 East, an office building located in downtown Fort Lauderdale. The 24-story property comprises 343,500 square feet of office space. Christian Lee, Andrew Chilgren, Marcos Minaya and Sean Kelley of CBRE brokered the transaction on behalf of both the buyers and the seller, Stockbridge. The sales price was not disclosed, but multiple media outlets have reported that 110 East traded for $43 million. Travis Herring and Katherine Ridgway of Cushman & Wakefield are working with PEBB and Intalex to oversee leasing of the building, and the partnership has secured 76,000 square feet of new tenancy, with 125,000 square feet of new leases currently in negotiation. Plans for the property include multimillion-dollar renovations to common areas. Greenwall Capital Management advised CDS in the transaction, and Kapp Morrison LLP provided legal representation.

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GeorgiaLeasing ActivityOfficeSoutheast

LPC Southeast Inks 38,451 SF Office Lease in Midtown Atlanta With Coworking Firm Spaces

by John Nelson

ATLANTA — Lincoln Property Co. Southeast (LPC Southeast) has negotiated a full-building, 38,451-square-foot lease at 1372 Peachtree St. in Midtown Atlanta. The tenant, coworking provider Spaces, offers office rental options, including coworking space, virtual workspaces and communal breakout areas. The building is located near Colony Square, Midtown Arts District and the Arts Center MARTA Station and has undergone $7.5 million of improvements. Michael Howell, Hunter Henritze and Caroline Fisher arranged the lease on behalf of the landlord on an internal basis.

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CaliforniaMarket ReportsOfficeWesternWestern Market Reports

Success in Los Angeles’ Office Market Means Strategic, Proactive Repositioning

by Jeff Shaw

— By Sean Fulp, Vice Chair & Head of Office Capital Markets, U.S. Southwest, Colliers — Office sales, leasing and development activity are at historic lows for Los Angeles County. With interest rates rapidly increasing, few active developments, and office vacancy and availability at an all-time high, the office market is in discovery mode. One of the major trends in development is creative, state-of-the-art studio/office campuses. These developments have broken ground in West Hollywood, Burbank, Santa Monica and Culver City.  Developers in this space have the mindset of “if you build it, they will come.” Office sales activity is down more than 50 percent in the past year due to a high interest rate environment and a divide between buyer and seller pricing expectations. As loans become due, landlords will have decisions to make, and distress will occur in the market.  Office availability is at an all-time high in Los Angeles at nearly 30 percent — likely the new norm going forward. Companies have figured out that employees like to have the flexibility of where and even when they work. With that said, companies are downsizing their office space by 25 percent to 50 percent and, in some cases, by …

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AcquisitionsHealthcareOfficeUtahWestern

MedProperties Realty Advisors Buys 51,591 SF Medical Office Building in South Salt Lake, Utah

by Jeff Shaw

SOUTH SALT LAKE, UTAH — MedProperties Realty Advisors has purchased a 51,591-square-foot medical office building in South Salt Lake, just south of Salt Lake City.  The property is 97 percent leased to high-quality tenants that primarily specialize in treating kidney disease. The Class A asset is known as Wasatch Renal Center.  The buyer was attracted to the property due to the tenant base and physical quality of the building. The tenants are affiliated with Fresenius Medical Care, a worldwide leader in the treatment of renal disease and in kidney disease research.

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ArizonaLeasing ActivityOfficeWestern

Food for the Hungry Establishes 30,000 SF Headquarters at Renaissance Square in Downtown Phoenix

by Jeff Shaw

PHOENIX — Food for the Hungry has leased nearly 30,000 square feet of office space at Renaissance Square in downtown Phoenix.  The new lease will allow the international humanitarian organization to consolidate its three downtown Phoenix locations into a single global corporate headquarters. Food for the Hungry’s new lease will relocate about 130 corporate headquarters employees to 2 N. Central Ave., one of two Class A, high-rise office buildings at the 985,000-square-foot Renaissance Square. The remaining 99 percent of the organization’s staff works in their country of origin.  Jami Savage-Gray and Ryan Bartos from the Phoenix office of JLL represented Food for the Hungry in the negotiations. Jerry Roberts and Pat Boyle of Cushman & Wakefield represented the landlord, a partnership between Oaktree and Cypress Office Properties.

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AcquisitionsColoradoHealthcareOfficeWestern

Marcus & Millichap Brokers $2M Sale of Downing Street Office Building in Denver

by Jeff Shaw

DENVER — A local family medicine practice has acquired an 8,360-square-foot office building in Denver for $2 million.  The practice plans to convert most of the building for its medical practice. The property is located at 1634 Downing St.  The two-story building is only a few blocks from SCL Saint Joseph Hospital. An immigration law firm currently occupies the space.  Cory Gross and Erik Enstad of Marcus & Millichap’s Denver office had the exclusive listing to market the property on behalf of the seller, a private investor. 

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AcquisitionsNortheastOfficePennsylvania

Newmark Arranges Sale of 155,663 SF Office Building in Pittsburgh

by Taylor Williams

PITTSBURGH — Newmark has arranged the sale of Foster Plaza Nine, a 155,663-square-foot office building in Pittsburgh’s Parkway West submarket. The property was built in 1990 and was 64 percent leased at the time of sale. David Dolan, Michael Margolis, Gerry McLaughlin, Jeff Schultz, Angelo Brutico and John Cook of Newmark represented the seller, Sterling Equities, in the transaction. The undisclosed buyer plans to implement a value-add program.

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DevelopmentIndianaMidwestOffice

Skender Expands Indiana Office, Workforce to Support Construction Projects Throughout Hoosier State

by Kristin Harlow

INDIANAPOLIS — Skender has moved into a larger Indiana office, located in the Keystone area of North Indianapolis, and more than doubled its workforce in the state to support a host of new projects under construction and in the planning stages. The Chicago-based general contractor’s presence in the region began in early 2020 when Indiana University Health (IU Health) hired Skender to assist with significant expansion and upgrades to IU Health facilities in Indianapolis and around the state. Skender’s Brian Simons relocated to central Indiana to head up local operations with a focus on expanding relationships with clients, architects, brokers and trade partners. Skender now has more than 1 million square feet of construction projects across Indiana, and the firm’s Indiana office is projecting more than 400 percent annual revenue growth in 2023. Projects span the healthcare, municipal, office and industrial sectors.

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IllinoisLeasing ActivityLee & AssociatesMidwestOffice

Granite Construction Signs 12,925 SF Lease at O’Hare Offices in Des Plaines, Illinois

by Kristin Harlow

DES PLAINES, ILL. — Granite Construction has signed a 12,925-square-foot office lease at the O’Hare Offices in the Chicago suburb of Des Plaines. The transaction marks the fourth lease of the year signed at the property, which received earlier commitments from Big Mouth Media, Elara Caring and United Airlines totaling 25,525 square feet. Tony Russo and Ryan Freed of Lee & Associates are the leasing agents for the property on behalf of the landlord, Siete 7 LLC. O’Hare Offices rises five stories and totals 171,000 square feet. Amenities include a fitness center, access to food service and fully customizable office spaces. The landlord recently began a lobby renovation that will wrap up this summer. Granite Construction specializes in the transportation, water infrastructure and mineral exploration markets.

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AcquisitionsMarylandOfficeSoutheast

JBG Smith Sells Majority Stake in Metro D.C. Headquarters for $196M

by John Nelson

BETHESDA, MD. — JBG Smith, the developer behind Amazon’s HQ2 campus in Arlington, Va., has sold an 80 percent stake for its corporate headquarters at 4747 Bethesda Ave. in Bethesda. An undisclosed investor purchased the interest for $196 million, according to several media outlets. Built in 2019, the LEED Gold-certified building spans 300,508 square feet and was 98 percent leased at the time of sale to tenants including JBG Smith. The property, which is located adjacent to the popular Bethesda Row destination, features a rooftop lounge, modern fitness facility and a penthouse conference room with floor-to-ceiling glass windows. Jim Meisel, Matt Nicholson, Andrew Weir, Dave Baker and Kevin Byrd of JLL represented JBG Smith in the transaction.

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