BOSTON — Coldwell Banker Commercial Realty has brokered the $6.2 million sale of a 14,000-square-foot office building in the Brookline area of Boston. Todd Glaskin and Gregg Leppo of Coldwell Banker represented the buyer, local developer Concept Properties, in the transaction. The duo also represented the seller, a partnership between Kinross Real Estate and Greenline Realty, which purchased the building for $2.5 million in 2005.
JACKSONVILLE, FLA. — Merritt Properties has acquired a five-building, single-story office park located at 5022 Gate Parkway in Jacksonville for $19.6 million. Karl Johnston and Traci Jenks of Cushman & Wakefield represented the seller, Boston-based Taurus Investment Group, in the transaction. Formerly known as The Meridian at Deerwood, the newly acquired property has been renamed Merritt at Gate Parkway and is being converted to light industrial use. Plans are already underway to enhance the property by installing drive-in docks and further upgrading the facilities to meet modern industrial standards. Situated within St. Johns Town Center, the 200,328-square-foot park is located directly off J. Turner Butler Boulevard in south Duval County. Space is available beginning at 3,500 square feet. Merritt at Gate Parkway’s existing tenants include DB Structured Products and MMI. Since entering the market in 2021, Merritt Properties’ Jacksonville portfolio now exceeds 500,000 square feet.
FENTON, MO. — Midas Construction is rebranding to Midas Building Group (MBG). The firm builds hospitality, multifamily and senior living projects throughout the Midwest with active projects in Missouri, Illinois, Indiana and Ohio. MBG is also settling into a new and larger headquarters on the Maritz Corporate Campus at 1400 S. Highway Drive in Fenton, a suburb of St. Louis. The company previously occupied 5,226 square feet in Clayton. MBG’s new 12,005-square-foot office in Fenton features a 5,076-square-foot warehouse space. Campus amenities include a fitness center, multiple auditoriums and conference facilities, a full-service cafeteria and walking trails. The MBG family of companies includes American Cabinet Factory and Collaborative Carpentry. The firm also maintains a regional office in Indianapolis.
NEW YORK CITY — Christie’s has extended its 400,000-square-foot office lease at Rockefeller Center in Manhattan for another 25 years. The art auctioning and appraisal company has been a tenant at the 100-year-old complex since 1997, and its footprint has comprised salerooms, public galleries, warehouses and office space. Mary Ann Tighe, Ramneek Rikhy, Cara Chayet and Courtney Hughson of CBRE, along with Jen Yashar and Danielle Frank of Fried Frank, represented Christie’s in the lease negotiations. EB Kelly represented the landlord, Tishman Speyer, on an internal basis.
PHOENIX — Cushman & Wakefield has negotiated the sale of a medical office building, located at 690 N. Cofco Center Court in Phoenix. An entity managed by a subsidiary of LNR Partner sold the asset to an undisclosed buyer for $7.2 million. Built in 2002 on 4.8 acres, the two-story, 77,386-square-foot property is commonly known as Gateway Medical Center. At the time of sale, the multi-tenant property was 35 percent leased. The asset features a newly renovated, two-story lobby with a staircase, elevator service and covered canopy parking. Eric Wichterman and Mike Coover of Cushman & Wakefield’s Private Capital Markets in Phoenix represented the seller in the deal.
SAN ANTONIO — Milwaukee-based PACE Equity has provided $1.6 million in C-PACE (commercial property-assessed clean energy) financing for The Allen, a historic building located just north of downtown San Antonio. Originally built in 1928 and formerly housing a flowers and antiques shop, The Allen currently serves as the office headquarters of developer Headwall Investments and also offers traditional retail space. The redevelopment included energy-efficiency improvements, including HVAC and lighting system upgrades. The borrower was not disclosed.
SOUTHFIELD, MICH. — Crescent College and Career Preparatory Academy, a charter school network, has leased a 66,000-square-foot office building at 26200 Lahser Road in Southfield. The three-story property is known as Lahser Center II. According to a release, the move will enable Crescent to expand and modernize its middle and high school programs. Jake Cinti, Stephen Powers and Lindsay Ornstein of OPEN Impact Real Estate, along with Charles Howard of Transwestern, represented the tenant. Matthew Schiffman of PA Commercial represented the landlord, Lahser Southfield LLC, doing business as Foster Financial Co. Inc. The tenant will relocate from its current location at 26555 Franklin Road in Southfield, where it has been leasing space from the Christian Tabernacle Church since 2017.
MALVERN, PA. — General contractor and construction manager Builders Inc. has completed an 11,500-square-foot project for its new headquarters office in Malvern, a northwestern suburb of Philadelphia. The building was constructed using mass timber techniques and a mix of building materials, including stone from the original farm that previously occupied the property. Architecture firm Meyer designed the project, which includes warehouse space, offices, conference rooms and a café that connects to an outdoor deck.
BEVERLY HILLS, CALIF. — Fashion Nova has purchased an office campus in the posh Los Angeles suburb of Beverly Hills that will serve as the new global headquarters for the innovative, tech-enabled fashion retailer. Fashion Nova founder and CEO Richard Saghian acquired the asset from Tishman Speyer for $118 million in an off-market transaction. Located at 407 N. Maple Drive, the 175,000-square-foot office campus offers four floors of office space and three stories of subterranean parking. The Fashion Nova HQ will house Nova Social Club, a private, by-invitation-only collaborative space where creators, influencers, celebrities and VIP guests can enjoy curated amenities and bespoke partnerships. The buyer will also introduce Nova Founders Lab, an incubator-accelerator for emerging brands, designers, creatives and founders across fashion, marketing and technology to become market-ready in a fashion-vertical setting. The office campus will also offer a fitness studio, wellness spa, content and podcast studios, a screening room, meditation and yoga garden, cosmetic micro-treatment bar, an organic culinary outpost and showroom.
PARK CITY, UTAH — Dakota Pacific Real Estate has completed the disposition of two office buildings in Park City’s Kimball Junction community. A local real estate investment firm and operator acquired the assets for an undisclosed price. Park City is a suburb located east of Salt Lake City. Totaling 122,000 square feet, the transaction includes NewPark One at 1441 Ute Blvd. and NewPark Three at 1389 Center Drive. Kip Paul, Michael King and JT Redd of Cushman & Wakefield represented the seller in the deal.