ALLEN, TEXAS — Avison Young has brokered the sale of a 115,200-square-foot office building located at 805 S. Central Expressway in Allen, a northeastern suburb of Dallas. Susan Gwin Burks, John Bowles, Bruce Butler and Philip Boren of Avison Young, along with Clint Madison and Rodney Helm of Cushman & Wakefield, represented the seller, Gladstone Commercial, in the transaction. Matt Middendorf of Middendorf Commercial Real Estate represented the buyer, Sol-Ark, which provides solar and other energy storage products. The new ownership plans to take full occupancy of the building, which was originally constructed in 1998.
CAMDEN, N.J. — Campbell Soup Co. (NYSE: CPB) will invest $50 million in capital improvements to its headquarters campus in the Southern New Jersey community of Camden. The project will both enhance existing workspaces and amenity spaces as well as deliver new ones. As part of the initiative, the company will consolidate its offices in Charlotte and Norwalk, Conn., into the Camden office, yielding a regional workforce of about 1,600 employees. Campbell Soup has been headquartered in Camden since 1869, and this project represents the first renovation of the campus since 2010. Construction is set to begin in March. Employees will begin relocating from the other offices later this year.
LOS ANGELES — Lowe as developer and manager, along with Ware Malcomb as architect/designer and Swinerton as general contractor, has completed construction of a nine-story creative office building located at 2130 Violet St. in Los Angeles’ Arts District. Totaling more than 113,000 square feet, the building includes 109,100 square feet of office space, 3,400 square feet of ground-floor retail space, four levels of parking for 275 vehicles, outdoor spaces including private terraces, and a 3,000-square-foot rooftop deck/lounge. The building offers 27,000-square-foot open floorplates, high ceilings, energy-efficient building systems and HVAC.
IRVING, TEXAS — The University of St. Augustine for Health Sciences (USAHS) has opened a 55,050-square-foot academic and office facility in Irving’s Las Colinas district. The space is located within the former Zale Corp. headquarters building. William Quinby of Savills represented USAHS, which is also planning a 20,979-square-foot expansion in Irving, in its site selection and lease negotiations. Classes at the new facility began in early January, and a ribbon-cutting ceremony will be held on Wednesday, Jan. 25.
CHICAGO — Western Specialty Contractors-Chicago Facades Branch will complete a restoration of the curtain wall at Accenture Tower in Chicago. KBS owns the 42-story Class A office building, which totals nearly 1.5 million square feet. The property, completed in 1987 and formerly known as 500 West Madison, features 80,000 square feet of retail space and sits above the Ogilvie Transportation Center. The restoration of the curtain wall, a project expected to continue through 2025, includes the removal and replacement of the original 35-year-old sealants on the entire 588-foot building’s curtain wall and bridge over Canal Street. A curtain wall system on a building’s façade helps prevent leaks and protects against inclement weather. Project costs were not provided.
TUCSON, ARIZ. — Cushman & Wakefield | PICOR has arranged the sale of an 11,960-square-foot office space at Oracle-Ina Professional Plaza located at 7490 N. Oracle Road in Tucson. MCP Tucson Endo LLC acquired the asset from Oracle Medical Plaza II LLC for $3 million. Richard Kleiner and Thomas Nieman of Cushman & Wakefield | PICOR represented the seller, while Larry Serota and CeCe Conway of Transwestern represented the buyer in the deal.
GLEN BURNIE, MD. — Locally based St. John Properties has acquired Aviation Business Park, a three-building commercial portfolio comprising 120,000 square feet in Glen Burnie, approximately 10 miles south of Baltimore. St. John acquired the properties — located at 6956, 6958 and 6960 Aviation Blvd. — from Miami-based Adler Real Estate Partners for $13.3 million. The buildings were roughly 63 percent leased at the time of sale. St. John plans to invest $1.5 million to reposition one of the properties to flex/R&D space. Graham Savage, Jonathan Carpenter and Dawes Milchling of Cushman & Wakefield represented the seller in the transaction. St. John was self-represented. This marks the second significant acquisition for the company in recent months, following the purchase in November of Triangle Business Park, a 95 percent occupied, four-building portfolio in metro Baltimore comprising 74,000 square feet.
HOUSTON — Northmarq has arranged a loan of an undisclosed amount for the refinancing of a 17,250-square-foot industrial flex property located at 850 E. Little York Road in Houston. According to LoopNet Inc., the property was built in 1975 and features 12-foot clear heights, two dock-high doors and six drive-in doors. Michael Borden of Northmarq arranged the nonrecourse loan, which carried a five-year term, fixed interest rate and a 25-year amortization schedule. The borrower and direct lender were not disclosed.
NEW YORK CITY — Boffi | DePadova, an Italian furniture provider, will open a 19,694-square-foot showroom at 99 Madison Avenue in Manhattan’s Nomad Design District. The space comprises the entire ground floor, mezzanine, second floor and lower level of the building. The opening is scheduled for spring 2024. Andrew Kahn, Fanny Fan and Adrienne Gallus of Cushman & Wakefield represented the landlord, Windsor Management, in the lease negotiations. The representative of the tenant was not disclosed.
PLANO, TEXAS — California-based Alvarez & Marsal Capital Real Estate is underway on construction of a four-building, 204,000-square-foot office redevelopment project in Plano. Southern Methodist University (SMU) previously occupied the 16-acre site at 5228-5240 Tennyson Parkway, which can support a single or multiple users. Amenities at the new campus, which will be known as ELEVAR, will include a fitness center, conference center and a bistro lounge. Construction is slated for a third-quarter completion. Cushman & Wakefield is marketing the development for lease.