Office

Serendipity Labs to Open Flexible Office Suites at L&C Tower in Nashville, Taps Stream Realty to Lease

by John Nelson September 1, 2022

NASHVILLE, TENN. — Serendipity Labs, a flexible and coworking operator based in New York, plans to open and operate customizable office suites and supporting services at L&C Tower, an office building located at 159 4th Ave. N in downtown Nashville. The firm will bring two team speculative suites on the second floor spanning 4,800 and 5,800 square feet, which can house 24 and 29 employees, respectively. Additionally, Serendipity Labs will open a traditional office space spanning 10,500 square feet on the third floor that will offer a dedicated café space, several meeting rooms and work-lounge areas that can accommodate 100-plus employees. These spaces can support entrepreneurs looking for a single office or companies and teams looking for flexible and collaborative spaces. Tenants will also be able to access L&C Tower’s existing amenities, including concierge services, a fitness center, conference facilities and a private room with a Main Distribution Frame for secure Wi-Fi connectivity. Additionally, Serendipity Labs has selected Stream Realty Partners as its exclusive brokerage partner to help lease these spaces. Multiple spaces are available with month-to-month terms for up to 24 months.

September 1, 2022

Acquisitions North Carolina Office Southeast

Equus Sells 234,670 SF Rotunda Office Building in Charlotte

by John Nelson September 1, 2022

CHARLOTTE, N.C. — Equus Capital Partners Ltd. has sold The Rotunda, a four-story, 234,670-square-foot office building located in Charlotte’s SouthPark submarket. An institutional real estate investment fund manager based in Atlanta purchased the property for an undisclosed price. Ryan Clutter and Chris Lingerfelt of JLL represented the metro Philadelphia-based seller, which sold the property via its Equus Investment Partnership X LP investment vehicle. Equus purchased The Rotunda in 2017 and completed a $4.5 million renovation in 2019 that comprised upgrades to the restrooms, main building lobby, upper floor elevator lobbies, elevator cab interiors, lighting in the portico, cooling tower replacement, creating a new amenity space and activating a 4,500 square-foot outdoor patio on the building’s south side that overlooks Symphony Park. Built in 1998, The Rotunda features a two-level parking deck, conference center, outdoor seating areas, onsite property management and a restaurant, Village Tavern.

September 1, 2022

Leasing Activity Office Texas

SK Lubricants Americas Signs 23,624 SF Office Lease Extension in Houston’s Energy Corridor

by Taylor Williams September 1, 2022

HOUSTON — SK Lubricants Americas has signed a 23,624-square-foot office lease extension at 11700 Katy Freeway, a 14-story, 325,000-square-foot building in Houston’s Energy Corridor. Kevin Poynter of Poynter Commercial Properties Corp. represented the landlord, an affiliate of ATCAP Partners, in the lease negotiations. Jason Whittington of NAI Partners represented the tenant.

September 1, 2022

Loans New York Northeast Office

Newmark Arranges $260M Loan for Refinancing of Manhattan Office Building

by Taylor Williams September 1, 2022

NEW YORK CITY — Newmark has arranged a $260 million loan for the refinancing of 75 Rockefeller Plaza, a 627,000-square-foot office building located within Midtown Manhattan’s Plaza District. Office users at 75 Rockefeller Plaza, which was originally constructed in 1947, include WeWork and Bank of America, and American Girl anchors the ground-floor retail space. Jordan Roeschlaub, Dustin Stolly and Nick Scribani of Newmark arranged the financing through Bank of America and Carlyle Group. The borrower, RXR Realty, originally acquired the leasehold interest in the asset in 2013 and has subsequently invested $150 million in capital improvements. RXR Realty also operates its New York City headquarters out of the building.

September 1, 2022

Georgia Leasing Activity Office Southeast

LPC Southeast Negotiates 90,000 SF of Leases at NorthWinds Office Park in Alpharetta, Georgia

by John Nelson August 31, 2022

ALPHARETTA, GA. — Lincoln Property Co. Southeast (LPC Southeast) has negotiated several new leases, lease expansions and extensions at NorthWinds Office Park in Alpharetta totaling more than 90,000 square feet. Hunter Henritze, Michael Howell, Caroline Fisher and Robert deGolian of LPC Southeast represented the landlord, The Brookdale Group, in the lease negotiations. The tenants for these lease deals at the 1 million-square-foot, seven-building office park include: • Deposco (extending by 11,025 square feet); • Campbell & Brannon (extending by 17,425 square feet); • US Orthopedic Partners (new 10,445-square-foot lease); • Goldman Sachs (expansion/extension of 7,579 square feet); • Hanover Insurance Co. (new 7,119-square-foot lease); • Homrich Berg (new 6,992-square-foot lease); • Weissman P.C. (6,991-square-foot lease extension); • REP Perimeter Holdings (extended by 6,803 square feet); • CBIZ (6,514-square-foot lease extension); • Instant Financial (4,151 lease extension/expansion); • Adair & Baker (2,896-square-foot extension); and • H Clay Moore & Associates Inc. (new 2,762-square-foot lease) NorthWinds is located about 26 miles north of Atlanta and within one mile from Avalon and Ga. Highway 400. In addition to offices, the campus includes two hotels, two banks, nine restaurants, two complimentary fitness facilities, a daycare and learning facility and six free conference and training …

August 31, 2022

Leasing Activity Office Texas

CBRE Negotiates 45,496 SF Office Headquarters Lease in Southwest Austin

by Taylor Williams August 31, 2022

AUSTIN, TEXAS — CBRE has negotiated a 45,496-square-foot office headquarters lease in southwest Austin for Epicor Software, a provider of technology solutions for the manufacturing, distribution and retail sectors. Nate Stricklen and John Gump of CBRE represented the tenant, which took occupancy of its new space within the Las Cimas office complex in July, in the lease negotiations. Kevin Granger and Brian Liverman of Cushman & Wakefield represented the landlord, Boston-based Rockpoint.

August 31, 2022

Lee & Associates Office Texas

Kimley-Horn Signs 23,608 SF Office Lease Expansion in Houston’s Energy Corridor

by Taylor Williams August 31, 2022

HOUSTON — Civil engineering firm Kimley-Horn has signed a 23,608-square-foot office lease expansion at 11700 Katy Freeway in Houston’s Energy Corridor. The tenant is doubling its space to 47,216 square feet at the 14-story, 325,000-square-foot building. Kevin Poynter of Poynter Commercial Properties Corp. represented the landlord, an affiliate of ATCAP Partners, in the lease negotiations. Kris Knapstein and Drew Morris of Savills represented Kimley-Horn.

August 31, 2022

Acquisitions Midwest Office Wisconsin

Colliers Negotiates $14.6M Sale of Fair Park Business Center in Milwaukee

by Kristin Harlow August 31, 2022

MILWAUKEE — Colliers has negotiated the sale of Fair Park Business Center in Milwaukee for $14.6 million. Located at 620 S. 76th St., the 119,971-square-foot property is fully leased to six office and flex industrial tenants. The building was originally constructed in 1948 with additions and renovations occurring between 2006 and 2014. Some of the tenants include Children’s Hospital of Wisconsin, Lesaffre Yeast Corp. and Upper Iowa University. Tom Shepherd and Jennifer Huber-Bullock of Colliers represented the seller, SARA Investment Real Estate. A New York-based 1031 exchange investor was the buyer.

August 31, 2022

Acquisitions Development Life Sciences Massachusetts Northeast Office

Jumbo Capital, Apollo Global Buy Metro Boston Office Building for $21M, Plan Life Sciences Conversion

by Taylor Williams August 31, 2022

CANTON, MASS. — A joint venture between Jumbo Capital and Apollo Global Management has purchased a 79,000-square-foot office building in the southern Boston suburb of Canton for $21 million with plans to convert the property into a life sciences facility. The development team plans to redevelop the existing building and add a 46,460-square-foot manufacturing space. Jeff Black, Bryan Koop and Sean Burke of Colliers arranged $57.7 million in acquisition and construction financing through Cambridge Savings Bank on behalf of the joint venture. Frank Petz, Matt Sherry, Brooke Howard and Rob Schlesinger, also with Colliers, brokered the sale of the property.

August 31, 2022

Acquisitions Connecticut Northeast Office

CBRE Brokers $16.5M Sale of Office Building in Westport, Connecticut

by Taylor Williams August 31, 2022

WESTPORT, CONN. — CBRE has brokered the $16.5 million sale of a 42,432-square-foot office building located at 33 Riverside Ave. in the southern coastal Connecticut city of Westport. The waterfront building rises five stories and was 91 percent leased at the time of sale. Jeffrey Dunne, Steve Bardsley, Jeremy Neuer, David Gavin and Travis Langer of CBRE represented the seller, an entity doing business as Abbey Road Riverside LLC, in the transaction. The team also procured the buyer, The Feil Organization.

August 31, 2022

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