ATLANTA — Workspace Property Trust has signed Hyundai Capital America to a 45,000-square-foot office lease at 4100 Wildwood Parkway, a 100,000-square-foot office building located within the Wildwood Office Park in Atlanta’s Cumberland-Galleria submarket. Hyundai Capital America, the finance and loan partner of Hyundai, Kia and Genesis car brands, previously operated a call center out of this location. 4100 Wildwood Parkway features offices, onsite conference facilities, kitchens and recreational areas. Kirk Anders of Anders Commercial Properties and Bob Gibbons of REATA Commercial Realty represented the tenant in the lease negotiations. Wes Rudes represented Workspace on an internal basis.
SOUTHLAKE, TEXAS — GI Alliance Management LLC, a network of medical providers focused on gastroenterology, has signed a 52,300-square-foot office lease in Southlake, located northeast of Fort Worth. The space is located within Cedar Ridge Office Park, a two-building, 128,000-square-foot complex. John Dickenson, Paul Hernandez and Matt Carthey of Holt Lunsford Commercial represented the landlord in the lease negotiations. Jordan Wade, John Huff, Allie McCracken, Cece Conway and Larry Serota with Transwestern represented the tenant.
CHICAGO — Executive Construction Inc. and architect Lamar Johnson Collaborative (LJC) have completed an office headquarters build-out for ofi (Olam Food Ingredients) in Chicago. The 80,000-square-foot project spans the entire 10th floor of 24 E. Washington St., a recent adaptive reuse redevelopment of the upper levels of the former Marshall Field and Co. Building into creative office space. The office features 13 dedicated labs and specialized kitchens. Flexible multipurpose meeting and dining spaces are flanked by a pair of demonstration kitchens. A sensory work room and separate sensory experience room allow tastings. The new headquarters brings ofi teams from previously fragmented locations into a unified space. The team is targeting LEED Silver and WELL Gold certifications.
NEW YORK CITY — Global alternative investment manager Canyon Partners has signed a 22,000-square-foot office lease at 1345 Avenue of the Americas in Midtown Manhattan. The space is located on the 28th floor, and the lease term is 11 years. Cynthia Wasserberger and Michael Pallas of JLL represented the tenant in the lease negotiations. Howard Fiddle, Peter Turchin, Gregg Rothkin, Ben Joseph, Bill Iacovelli and Charles Laginestra of CBRE, along with internal agents Marc Packman and Clark Briffel, represented the landlord, Fisher Brothers.
RICHARDSON, TEXAS — Infrastructure consulting firm Halff has sold its 91,251-square-foot office building in the northeastern Dallas suburb of Richardson. The building sits on a 6.7-acre site at 1201 N. Bowser Road. Jonathan Carrier of JLL represented Halff in the transaction. Digital Realty purchased the building for an undisclosed price. The sale was executed in conjunction with Halff signing an 80,000-square-foot lease at Galatyn Commons for its new Richardson office.
NEW YORK CITY — The Federal Deposit & Insurance Corp. (FDIC) has signed a 147,543-square-foot office lease in Midtown Manhattan. The FDIC is relocating from the Empire State Building to the 44-story building at 1166 Avenue of the Americas via a 10-year lease for the entire eighth, ninth and 10th floors, as well as part of the seventh floor. Connor Faught and Sheena Gohil of Colliers represented the FDIC in the lease negotiations. Paul Glickman, Diana Biasotti, Cynthia Wasserberger and Christine Colley of JLL, along with internal agents Jeffrey Sussman and Matt Pynn, represented the landlord, Edward J. Minskoff Equities.
— By Giovanna Abraham, Market Intelligence Analyst, Avison Young — The Las Vegas office market continues to defy broader national trends, maintaining resilience and attracting attention for its stability and growth. While many U.S. cities struggle with rising office vacancies, Las Vegas stands out for its comparatively low vacancy rate, steady rent growth and positive return-to-office trends. Despite recent increases in vacancy, Las Vegas remains well below national averages, with a vacancy rate of 15.2 percent in the third quarter — 850 basis points lower than the national availability rate of 23.7 percent. This performance reflects the unique dynamics shaping the Las Vegas office market, including a steadily growing population and the city’s appeal as a business-friendly destination. Low Vacancy Rates and a Stable MarketOffice vacancy has gradually increased over the past six quarters, but Las Vegas has also experienced a much slower rise than many larger metropolitan markets. This measured growth has allowed the city to remain competitive, with vacancies rebounding to pre-pandemic levels by late 2021 and holding steady through first-quarter 2023. After brief upticks in the first half of 2024, the vacancy rate declined again by third-quarter 2024, dropping from 15.9 percent to 15.2 percent. This resilience …
MINNEAPOLIS — Onward Investors has acquired Ameriprise Financial Center, a 31-story office tower located at 707 2nd Ave. S in downtown Minneapolis. The 960,000-square-foot building has served as the corporate headquarters of Ameriprise Financial since its construction in 2000. Ameriprise Financial announced in 2022 that the company would be vacating the property in order to consolidate its headquarters at another building in downtown Minneapolis. Ameriprise Financial Center is soon to be vacant, according to Onward Investors. A sales price was not disclosed. However, locally based newspaper The Minnesota Star Tribune reported that the property sold for $6.3 million, a steep discount from the last time the building traded hands. Most recently in September 2016, a joint venture between Axar Capital Management and Morning Calm Management acquired the building for $200 million. Ameriprise Financial Center is located within the Minneapolis skyway system, a network of enclosed pedestrian bridges that provide direct access to buildings including the Minneapolis Club, Capella Tower, SPS Tower and Baker Center. The property also includes a four-story parking ramp that offers below-grade parking for roughly 300 vehicles. Onward Investors stated that it is exploring variety of options for the property, including converting portions of the building to uses other than …
RICHARDSON, TEXAS — Infrastructure consulting firm Halff has signed an 80,000-square-foot office lease in the northeastern Dallas suburb of Richardson. The space is located within Galatyn Commons, a four-building, 800,000-square-foot campus that features a 10,000-square-foot fitness center, 8,000-square-foot food hall and a 150-person conference center. Andrew Taguwa, Taylor Dickerson and Rachel Gorney of JLL represented Halff in the lease negotiations. Cushman & Wakefield’s Chris Taylor and Zach Bean represented the landlord, Mapletree, a global investment firm based in Singapore.
DALLAS — KERA will open a new 60,000-square-foot headquarters facility in Uptown Dallas. At the end of February, the public broadcasting group will relocate from 3000 Harry Hines Blvd. to a temporary space at One Arts Plaza in downtown Dallas while the new headquarters is being built. Construction of the new building, the site of which is adjacent to the Katy Trail, will begin in the fourth quarter and is slated for a late-2027 delivery. Architecture firm Corgan is designing the new facility, which will include performance spaces and podcast studios, and Kaizen Development Partners will lead construction.