Office

Friedman Negotiates 41,400 SF Full-Building Lease at Office Property in Detroit

by Kristin Harlow May 4, 2023

DETROIT — Friedman Real Estate has negotiated a new office lease for 41,400 square feet at 601 W. Fort St. in Detroit. The property was completed in 1912 and renovated in 2016. The tenant is an international sea and air logistics company and will occupy the building in its entirety. The property is situated near Michigan Central Station, which is currently undergoing the final phase of restoration by Ford Motor Co. Steve Eisenshtadt and Andrew Bower of Friedman represented the undisclosed landlord.

May 4, 2023

Leasing Activity Life Sciences Office Texas

Antech Diagnostics Signs 22,578 SF Lease Renewal, Expansion in Irving

by Taylor Williams May 4, 2023

IRVING, TEXAS — Antech Diagnostics, a provider of veterinary diagnostic and lab testing services, has signed a 22,578-square-foot lease renewal and expansion in Irving. The company has committed to Royal Jetstar Tech Center a 92,051-square-foot office and lab building, for an additional 10 years and is taking an additional 9,578 square feet. Jason Finch and Michael Spain of Bradford Commercial Real Estate Services represented the landlord, an entity doing business as Pre DFW Airport LLC, in the lease negotiations. Ryan Buchanan of CBRE represented Antech Diagnostics.

May 4, 2023

Acquisitions California Office Western

Naked Wardrobe Acquires 90,371 SF Office Property Calabasas, California for New Headquarters

by Jeff Shaw May 4, 2023

CALABASAS, CALIF. — Naked Wardrobe has purchased a 90,371-square-foot office property in Calabasas for its new headquarters. The building is located at 26541 Agoura Road. The affordable luxury clothing brand will expand from its previous location in nearby Northridge. CBRE’s Mark Perry, Michael Slater, Tom Dwyer, Caroline Bigelow and Carlene O’Neil, along with Scott Murphy, asset manager for Ella Valley Investments, represented the sellers, Edgemark Littleton and the Murray S. Pepper Trust. ZMax Realty represented the buyer.

May 4, 2023

Acquisitions Arizona Office Western

Gantry Arranges $5M Acquisition Loan for Phoenix Office Property

by Jeff Shaw May 3, 2023

PHOENIX — Gantry has secured a $5 million loan for the value-add acquisition of a 56,000-square-foot office property in Phoenix. The borrower is an experienced private real estate investor. The two-story building offers 278 park spaces and is located at 2225 W. Peoria Ave. within the Black Canyon Commerce Park. Vacant space at the property is formatted for medical office, as well as general professional uses. One of Gantry’s correspondent life company lenders provided the fixed-rate, short-term bridge loan.

May 3, 2023

Acquisitions California Office Western

NAI Capital Brokers $3.5M Sale of Lakeview Professional Plaza in Yorba Linda, California

by Jeff Shaw May 3, 2023

YORBA LINDA, CALIF. — A California-based private investor has acquired Lakeview Professional Plaza, an 11,761-square-foot, multi-tenant office building in Yorba Linda, for $3.5 million. The building is located at 4848 Lakeview Ave. It was built in 1975. The office is currently leased to an insurance company and a law firm on long-term leases. Steven Ehrich of NAI Capital Commercial’s Investment Services Group represented both the buyer and seller in the transaction.

May 3, 2023

Development Georgia Industrial Office Southeast

Electric Owl Studios to Open 312,000 SF Film, TV Studio in Atlanta

by John Nelson May 3, 2023

ATLANTA — Electric Owl Studios plans to open a 312,000-square-foot film and TV studio in Atlanta’s DeKalb County next month. Located at 3963 Redan Road near the Indian Creek MARTA station, the production facility is the only ground-up LEED Gold-certified studio campus in the world, according to Electric Owl. With six purpose-built sound stages and ancillary and parking space, the studio is large enough to support a tentpole feature film or two large-scale TV series. Electric Owl Studios was founded by former Third Rail Studios executives Dan Rosenfelt and Michael Hah. The Atlanta property is the debut studio for Electric Owl, which is currently developing a second studio on an 18-acre site in New York that is set to open in summer 2025.

May 3, 2023

Leasing Activity Life Sciences Office Texas

Rice Management Co. Signs New Tenants to Leases at Houston’s Ion District

by Taylor Williams May 3, 2023

HOUSTON — Rice Management Co., the entity that acts as steward of Rice University’s endowment, has signed new tenants to leases totaling roughly 35,000 square feet at The Ion District, a 12-block office, life sciences and innovation hub in Houston. Among the new tenants are carbon capture company Carbon Clean, Norwegian software developer Cognite and medical equipment manufacturer Motif Neurotech. These tenants join Houston-based private equity firm Ara Partners and coworking concept Common Desk. Savills represented ownership in all lease negotiations. Construction of new lab space is also now underway at The Ion District.

May 3, 2023

Leasing Activity Office Texas

Paceline Equity Signs 12,465 SF Office Lease in Uptown Dallas

by Taylor Williams May 2, 2023

DALLAS — Dallas-based Paceline Equity Partners has signed a 12,465-square-foot lease at The Offices at Turtle Creek Village in the Oak Lawn area of Dallas. The 18-story, 229,868-square-foot building was originally constructed in 1973 and offers a conference room and a tenant lounge. Travis Boothe and Zach Bean of Cushman & Wakefield represented the tenant in the lease negotiations. Tommy Nelson and Alexandra Cullins of CBRE represented the landlord, Los Angeles-based CIM Group, which acquired the building in 2017.

May 2, 2023

Leasing Activity Mixed-Use Office Southeast Virginia

Jamestown Signs Three Office Tenants at Ballston Exchange in Arlington, Virginia

by John Nelson May 2, 2023

ARLINGTON, VA. — Jamestown has signed three new office tenants to join Ballston Exchange, a mixed-use campus located in the Washington, D.C., suburb of Arlington. The newcomers include Management Sciences for Health (MSH), EPIGEN and COMTO. Cresa represented MSH and COMTO in their lease negotiations, and Cushman & Wakefield represented Jamestown in all three deals, as well as EPIGEN. All together the three new tenants will occupy 30,000 square feet of space. Other tenants at Ballston Exchange include Booz Allen Hamilton, Insurance Institute for Highway Safety (IIHS) and CENTRA Technology. Retailers and restaurants include Shake Shack, Orangetheory Fitness, CorePower Yoga, Greenheart Juice Shop, Dunkin’, Cava, The UPS Store and Bearded Goat Barber, among others.

May 2, 2023

Leasing Activity Midwest Minnesota Office

Accesso Completes New Office Leases Totaling 57,113 SF at IDS Center in Minneapolis

by Kristin Harlow May 2, 2023

MINNEAPOLIS — Owner Accesso has completed new office leases or renewals totaling 57,113 square feet at IDS Center in Minneapolis. The tenants, which are in various industries such as finance, legal and business consulting, include: Fabyanske, Westra, Hart & Thomson; Hursch Blackwell LLP; WiseFool; Bremer Bank National Association; Mattel Sales Corp.; and Lathrop GPM. IDS Center rises 47 stories and totals 1.4 million square feet.

May 2, 2023

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