Sunday, October 19, 2025
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DevelopmentDistrict of ColumbiaLoansOfficeSoutheast

HGI Provides $38.3M Refinancing for Office Building in D.C.’s East End

by John Nelson

WASHINGTON, D.C. — Affiliates of Harbor Group International LLC (HGI) have provided a $38.3 million loan for the refinancing of a 12-story office building located at 1250 Eye St. in Washington, D.C.’s East End district. The borrower is Kairos Investment Management Co., which purchased the 180,000-square-foot property in 2023. Kairos plans to use the loan proceeds to refinance existing debt and fund ongoing renovations and enhancements of the property, while also supporting leasing activity. These enhancements will include a new amenity suite on the 12th floor that Gensler designed that will feature an elevated hospitality lounge, conference center, bar/kitchen and terrace. Renovations include move-in ready office spaces and upgrades to commons areas including the lobby, fitness center, bike room and parking/valet services.

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AcquisitionsOfficeSoutheastVirginia

Cushman & Wakefield | Thalhimer Brokers $8.2M Sale of Virginia Beach Office Building

by John Nelson

VIRGINIA BEACH, VA. — Cushman & Wakefield | Thalhimer has brokered the $8.2 million sale of a 61,528-square-foot office building located at 555 S. Independence Blvd. in Virginia Beach. Clark Simpson and Erik Conradi of Thalhimer’s Capital Markets Group, along with Christine Kaempfe of Thalhimer’s Office Services team, represented the seller, an entity doing business as 5555 S Independence LLC, in the transaction. The buyer was RetroAIM Properties LLC, an abatement, insulation and demolition services firm that will use the Virginia Beach property as its new corporate headquarters.

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Austin-Centre
DevelopmentOfficeTexas

Sidra Real Estate Completes Renovation of Downtown Austin Office Building

by Taylor Williams

AUSTIN, TEXAS — Sidra Real Estate has completed the multimillion-dollar renovation of Austin Centre, a 327,619-square-foot office building located at 701 Brazos St. in the state capital’s downtown area. Renovations included upgrades to the lobby, restaurant and fitness center and the addition of a coffee bar and a mothers’ room. Sidra is also in the process of building out speculative suites on the building’s 10th floor. Tenants have direct access to amenities at the Omni Hotel, such as a rooftop pool and bar, fitness center, conference center, meeting space and a tenant lounge, as well as multiple onsite dining options. Ownership has tapped Transwestern as Austin Centre’s new leasing agent and property manager.

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AcquisitionsGeorgiaOfficeSoutheast

Third & Urban Acquires Georgia 400 Center Office Campus in Alpharetta Totaling 430,046 SF

by John Nelson

ALPHARETTA, GA. — Third & Urban has acquired Georgia 400 Center, a three-building office campus in Alpharetta, a northern suburb of Atlanta. The 430,046-square-foot office park is situated on 24 acres at the interchange of Ga. Highway 400 and Haynes Bridge Road. The seller and sales price were not disclosed. Jay O’Meara, Ryan Reethoff and Justin Parsonnet at Newmark represented the seller in the transaction. Third & Urban purchased the office campus in partnership with Zalik Investment Group. The new ownership is retaining Stephen Clifton, Zach Wooten and Payton Maxheimer of Cushman & Wakefield as the property’s leasing team. The locally based buyer, which is known as a developer of infill mixed-use destinations, plans to modernize the office campus with value-add improvements, including new roofs, lobby renovations and an elevated amenity lounge with a bar, conference center and recreational games. Georgia 400 Center was 67 percent leased at the time of sale to tenants including Morgan Stanley, Century Communities of Georgia and Toll Brothers. Trinity Partners will manage the office campus on behalf of the new ownership.

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AcquisitionsOfficeTexas

Shorenstein Acquires 19-Story Sterling Plaza Office Building in North Dallas

by Taylor Williams

DALLAS — San Francisco-based investment firm Shorenstein Investment Advisers has acquired Sterling Plaza, a 19-story, 320,000-square-foot office building located in the Preston Center submarket of North Dallas. The freshly renovated property was 89 percent leased at the time of sale and offers amenities such as a conference center, fitness facility and a tenant lounge. Shorenstein plans to implement additional capital improvements to the lobby, entryway, café and outdoor communal areas. The seller was California-based investment firm KBS. Robert Hill, Chris Murphy, Gary Carr and Austin Sheahan of Newmark brokered the deal. Chris Moritz, Andrew Porteous, Chris McColpin and Josh Francis, also with Newmark, are arranging the acquisition financing on behalf of Shorenstein.

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17787-Waterview-Parkway-Dallas
AcquisitionsOfficeTexas

Avison Young Arranges Sale of 151,340 SF Office Building in North Dallas

by Taylor Williams

DALLAS — Avison Young has arranged the sale of a 151,340-square-foot office building in North Dallas. The five-story building at 17787 Waterview Parkway was constructed on 5.2 acres in 1994. According to the Dallas Business Journal, the property was formerly the home of global technology firm Concentrix. Bruce Butler, Susan Gwin Burks and John Bowles of Avison Young represented the seller, an entity doing business as CFT NV Developments LLC, in the transaction. The buyer was the Board of Regents of the University of Texas System/University of Texas at Dallas.

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Depot-Atlas-LA-CA
CaliforniaLoansOfficeWestern

Luzzatto Co. Receives $32.4M C-PACE Financing for Depot & Atlas Office Campus in Los Angeles

by Amy Works

LOS ANGELES — The Luzzatto Co. has received $32.4 million in C-PACE financing through Nuveen Green Capital for Depot & Atlas, a creative office campus in Los Angeles’ West Adams submarket. Jeff Sause and Lauren Sackler of JLL Capital Markets Debt Advisory team arranged the financing for the borrower. Located at 3609-3645 10th Ave., Depot & Atlas offers 107,156 square feet of Class A space spread across two buildings, as well as two stories of subterranean parking. After acquiring the site in 2019, The Luzzatto Co. developed the Depot, a 94,726-square-foot creative office building, in late 2023 and redeveloped the neighboring 12,430-square-foot Atlas building. The property was 39 percent leased at the time of financing, with the Los Angeles Department of Mental Health occupying the entire first floor of the building.

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IllinoisLeasing ActivityMidwestOffice

NAI Hiffman Negotiates Three Leases at Renovated Office Building in Lisle, Illinois

by Kristin Harlow

LISLE, ILL. — NAI Hiffman has negotiated three leases totaling 15,642 square feet at 2200 Cabot Drive, a renovated office building within the Corporate Lakes office park in Lisle. Agriculture company Syngenta signed a 13,381-square-foot lease at the five-story building. Prior to the pandemic, Syngenta occupied space in Downers Grove. Additionally, Bethany Christian Services inked a 1,217-square-foot lease, and Retirement Solutions leased 1,044 square feet. Patrick Kiefer of NAI Hiffman represented building owner RE Development Solutions in all three deals. The property is now 70 percent leased. RE Development Solutions acquired the building in November 2019 when it was 5 percent occupied. Ownership has completed extensive renovations, including a redesigned lobby, updated first floor and fifth-floor amenity suite, onsite deli, exterior monument signage, a conference room, updated corridors and washrooms and new mechanical systems. The building offers spec suites to meet demand from small and midsize companies seeking turnkey space.

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Leasing ActivityNew YorkNortheastOffice

TickPick Signs 17,000 SF Office Headquarters Lease at One Penn Plaza in Midtown Manhattan

by Taylor Williams

NEW YORK CITY — TickPick, an online platform for buying and selling of fee-free event tickets, has signed a 17,000-square-foot office headquarters lease at One Penn Plaza in Midtown Manhattan. Alec Kirschner of Vestian, a global brokerage firm specializing in tenant representation, represented TickPick in the lease negotiations. Vornado Realty Trust owns the building and was self-represented.

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300-Park-Avenue-Manhattan
LoansNew YorkNortheastOffice

Tishman Speyer Receives $385M Refinancing of Midtown Manhattan Office Building

by Taylor Williams

NEW YORK CITY — Local real estate giant Tishman Speyer has received a $385 million refinancing for 300 Park Avenue, a 25-story office building in Midtown Manhattan. Originally built in 1955, 300 Park Avenue totals 770,000 square feet and was fully leased at the time of the loan closing. A consortium of lenders led by J.P. Morgan Chase and including Deutsche Bank Securities and Morgan Stanley provided a $330 million CMBS loan with a fixed interest rate of 5.44 percent. Macquarie Capital Principal Finance provided $55 million in mezzanine financing to complete the capital stack.

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