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AcquisitionsIllinoisMidwestOffice

Greenstone Partners Negotiates $7.4M Sale of Flex Office Building in Chicago’s Fulton Market

by Kristin Harlow

CHICAGO — Greenstone Partners has negotiated the $7.4 million sale of a 48,500-square-foot flex office and industrial building located at 1100 W. Monroe St. in Chicago’s Fulton Market neighborhood. The three-story property features efficient floor plates, industrial storage, three exterior docks on the first floor and 37 surface parking spaces. The asset, which was well maintained by an owner-occupant for more than 20 years, is located two blocks south of McDonald’s global headquarters. Jason St. John of Greenstone Partners represented the buyer, Alexander West Capital, the family office of the Leopardo family. The property will serve as the new home for Leopardo Construction’s Chicago operations. Andrew Davidson, Jay Beadle and David Kimball of Transwestern represented the seller, 1100 West Monroe LLC, an affiliate of Kolcraft Enterprises.

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Leasing ActivityOfficeTexas

Clear Technologies Signs 8,286 SF Office Lease at The Quorum in North Dallas

by Taylor Williams

DALLAS — Clear Technologies Inc., a provider of data storage and management services, has signed an 8,286-square-foot office lease at The Quorum, a five-story, 86,750-square-foot building in North Dallas. Michael Doherty of Lincoln Property Co. represented the tenant, which is relocating from the nearby building at 16415 Addison Road, in the lease negotiations. Sunwest Real Estate Group owns The Quorum.

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Leasing ActivityNew YorkNortheastOffice

Rose & Rose Signs 14,067 SF Office Lease at 250 Broadway in Lower Manhattan

by Taylor Williams

NEW YORK CITY — Rose & Rose has signed a 14,067-square-foot office lease at 250 Broadway in Lower Manhattan. The real estate law firm will occupy the entire 30th and 31st floors of the 648,000-square-foot building, which has undergone a host of capital improvements in recent years. Jacob Wolkenfeld of Norman Bobrow & Co. represented the tenant in the lease negotiations. Brad Gerla, Michael Rizzo and Alex Benisatto of CBRE, along with internal agent Anne Holker, represented the landlord, AmTrust RE.

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Leasing ActivityNew YorkNortheastOfficeTop Stories

Universal Music Group to Relocate New York Offices to Manhattan’s Penn District

by Kristin Harlow

NEW YORK CITY — Universal Music Group (UMG) has leased 88,000 square feet at Penn 2, a recently completed office tower in the Penn District campus within Midtown Manhattan. Vornado Realty Trust (NYSE: VNO) owns the property. The building will serve as the headquarters of iconic labels Def Jam Recordings, Island Records, Mercury Records and Republic Records, as well as Bravado, UMG’s merchandise company, and Verve Label Group. The property will also serve as the East Coast offices for Universal Music Publishing Group and several UMG corporate functions. UMG’s New York offices have been located at 1755 Broadway since the early 2000s, according to Variety. The global company’s corporate headquarters are in Hilversum, Netherlands. As part of a 22-year lease, UMG will occupy the entire fourth through seventh floors of Penn 2. UMG is also taking a ground-floor space along Seventh Avenue with future plans to debut a retail experience for music fans, as well as a private lobby on 33rd Street that will feature a visitor center and direct elevator access to its floors. UMG will be able to showcase its artists on large-scale LED signage within the Penn District. The new headquarters will be located within The Bustle, …

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Leasing ActivityNorth CarolinaOfficeSoutheast

SouthState Banks Signs 40,000 SF Office Lease in Charlotte’s South End District

by John Nelson

CHARLOTTE, N.C. — Florida-based SouthState Bank has signed a 40,000-square-foot office lease at 110 East, a 23-story office tower located at the intersection of East and South boulevards in Charlotte’s South End district. Chris Schaaf and Jim Thorpe of JLL represented SouthState in the lease transaction. Rhea Greene, Jennifer Kurz and John Hannon of Trinity Partners represented the landlord, a partnership between Stiles and Shorenstein Properties. Other committed tenants at the 370,000-square-foot office tower include Humana, Patterson Pope and Iberian Pig, a Spanish tapas dining concept by Castellucci Hospitality that will occupy a 4,600-square-foot restaurant on the ground level. SouthState Bank plans to take occupancy at 110 East in second-quarter 2026 and staff around 100 employees for its regional office hub. Hastings Architecture designed the office tower, which opened last year.

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AcquisitionsOfficeTexas

Cresa Arranges Sale of 124,480 SF Office Building in North Houston

by Taylor Williams

HOUSTON — Cresa has arranged the sale of a 124,480-square-foot office building in North Houston. The building sits on a 10-acre site at 785 Greens Parkway in the city’s Greenspoint neighborhood. According to LoopNet Inc., the building was originally constructed in 2002 and recently underwent capital improvements that upgraded select areas and systems, such as lighting and restrooms. Brandon Wuntch and Drew Altmann of Cresa represented the seller, GK Investments Group LLC, in the transaction and procured the buyer, Leva Patidar Samaj.

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DevelopmentOfficeTexas

KDC Breaks Ground on 13,500 SF Headquarters, Training Facility in McKinney, Texas

by Taylor Williams

MCKINNEY, TEXAS — Locally based developer KDC has broken ground on a 13,500-square-foot headquarters and training facility in the northern Dallas suburb of McKinney. The project is a build-to-suit for Hugs Café, an organization dedicated to providing training and employment for adults with disabilities, and will feature a training kitchen, four classrooms, a rooftop deck and a patio. Corgan is the architect, and Brasfield & Gorrie is the general contractor. Completion is slated for next summer.

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219-E.-42nd-St.-Manhattan
DevelopmentLoansMultifamilyNew YorkNortheastOffice

Metro Loft, DWREI Receive $720M in Financing for Manhattan Office-to-Residential Conversion Project

by Taylor Williams

NEW YORK CITY — A joint venture between Metro Loft Management and David Werner Real Estate Investments (DWREI) has received $720 million in financing for an office-to-residential conversion project in Manhattan. The project will convert the 10-story, 290,000-square-foot office building at 219 E. 42nd St., which formerly served as the global headquarters for pharmaceutical giant Pfizer Inc., into a multifamily complex. When combined with the adjacent building at 235 E. 42nd St., the development will feature more than 1,600 apartments, 25 percent of which will be reserved as affordable housing, as well as 100,000 square feet of amenity space and 30,000 square feet of retail space. Max Herzog, Marko Kazanjian, Andrew Cohen and Max Hulsh of Institutional Property Advisors, a division of Marcus & Millichap, arranged the financing through Madison Realty Capital on behalf of the joint venture. Construction is slated for a late 2027 completion. The IPA team also arranged $75 million in bridge financing for the project last fall, with Northwind Group serving as the direct lender on that deal.

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DevelopmentGeorgiaLeasing ActivityOfficeSoutheast

TriNet Signs 150,000 SF Office Lease at High Street Mixed-Use Development in Atlanta

by John Nelson

ATLANTA — HR solutions company TriNet has signed a 150,000-square-foot office lease at High Street, a $2 billion mixed-use district located within the Central Perimeter neighborhood of Atlanta. TriNet’s move is expected to create 750 jobs over the next five years. Jeff Taylor and Adam Viente of JLL represented the landlord, while Tony Guglielmi, Rich Branning, Josh Hirsh, Dom Wyant, Terry McGuirk and Brennan Koslow of JLL represented the tenant in the lease negotiations. GID Development Group recently completed its $415 million Phase I at High Street, which includes two luxury apartment buildings, 320,000 square feet of office space, 150,000 square feet of retail, restaurant and entertainment space and a central lawn for residents, workers and visitors. Upon full buildout of High Street, the 36-acre development will feature 672,000 square feet of office space, a 400-room hotel, 400,000 square feet of retail, dining, fitness and entertainment space and 3,000 residential units.

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Leasing ActivityOfficeTexas

Law Firm Signs 25,024 SF Office Lease at Harwood District in Uptown Dallas

by Taylor Williams

DALLAS — McDermott Will & Emery has signed a 25,024-square-foot office lease at the 19-block Harwood District in Uptown Dallas. The international law firm is relocating within the district to the top floor of Harwood No. 14, which is the newest addition to the development. The space can accommodate about 65 lawyers and staff. No third-party brokers were involved in the lease negotiations.

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