DURHAM, N.C. — Accesso has purchased 555 Mangum, a 251,464-square-foot office building located in downtown Durham. The developer and previous owner, Northwood Ravin, sold the Class A office building to Accesso for $72 million. Ryan Clutter, Mike McDonald, Daniel Flynn and C.J. Liuzzo of JLL brokered the sale. Built in 2020 adjacent to the Durham Bulls Athletic Stadium, 555 Mangum features an onsite parking garage comprising 812 spaces, a newly opened rooftop bar and restaurant called The Lenny, a fitness center with locker rooms, conference center and an outdoor courtyard. Tanium, a global cybersecurity firm, recently renewed and expanded its lease to 48,000 square feet at the building.
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RUSTON, LA. — KDC has delivered a 50,000-square-foot call center and operations hub for JPMorgan Chase in Ruston, a north Louisiana city located about 68 miles east of Shreveport via I-20. The $31 million Chase Operations Center is an extension of an existing customer support center in Monroe, which is about 32 miles east of Ruston. Situated on 5 acres along Woodward Avenue, the facility opened with 50 employees and has the capacity to grow to 200. The design-build team includes architect HKS and general contractor Lincoln Builders Inc.
Cushman & Wakefield Brokers $16.2M Sale of 1840 Gateway Office Building in San Mateo, California
by Amy Works
SAN MATEO, CALIF. — Cushman & Wakefield has arranged the sale of 1840 Gateway, a Class A office property in San Mateo. Monday Properties sold the asset to SC Properties for $16.2 million. Gary Boitano, Ryan Venezia, Steve Herman, Jack Depuy, Seth Siegel, Scott Prosser and Courtney Trunnell of Cushman & Wakefield represented the seller and the buyer in partnership with Clarke Funkhouser of JLL. The four-story property offers 70,098 square feet of office space, as well as a recently renovated gym facility with showers. Approximately 75 percent of the building’s square footage is finished as high-end creative space, including renovated restrooms and polished concrete floors. The property also offers a multi-story glass-enclosed lobby and flexible zoning that allows for potential redevelopment to residential use.
DALLAS — Locally based brokerage firm Younger Partners has arranged the sale of Bent Tree Plaza, an 82,144-square-foot office and healthcare complex in North Dallas. Located along the Dallas North Tollway, the property comprises two parcels and and was 72 percent leased at the time of sale. Tom Strohbehn and Scot Farber of Younger Partners represented the undisclosed seller in the transaction. Younger Partners has also been retained as the leasing agent by the new owner, which similarly requested anonymity.
HOUSTON — Saber Power has signed a 57,214-square-foot office lease renewal and expansion near the NASA Johnson Space Center in southeast Houston. According to LoopNet Inc., the building at 13100 Space Center Blvd. was completed in 1993 and renovated in 2019. Charlie Neuhaus and Harrison Schuhmacher of Partners Real Estate represented the tenant in the lease negotiations. Chrissy Wilson and Paul Frazier of JLL represented the undisclosed landlord.
Marcus & Millichap Brokers $8.6M Sale of James Center Plaza Office Property in Tacoma, Washington
by Amy Works
TACOMA, WASH. — Marcus & Millichap has arranged the sale of James Center Plaza, an office building at 1628 S. Mildred St. in Tacoma. A limited liability company sold the property to an undisclosed buyer for $8.6 million. The 34,272-square-foot property features eight medical-dental tenants, all under triple-net lease terms with staggered lease expirations. Michael Babicz and RJ Vara of The Vara Group of Marcus & Millichap’s Seattle office represented the seller in the deal.
CLEVELAND — CBRE has arranged the sale of 1100 Superior Avenue, a 21-story office tower totaling 576,500 square feet in downtown Cleveland. The sales price was $8.1 million, according to Crain’s Cleveland Business. Steve Timmel, Will Roberts, Jamie Dunford, Warren Blazy III and Eric Smith of CBRE represented the seller, LNR Partners LLC. Brady Sullivan Properties was the buyer. Built in 1972 and renovated in 2006 and 2013, the building features amenities such as a fitness center, tech hub, conference facilities, a café, public event center and 435-stall parking garage.
NEW YORK CITY — The National Association on Drug Abuse Problems has signed an 11,384-square-foot office lease in Midtown Manhattan. The lease term is roughly 11 years, and the space is located on the 12th floor of 520 Eighth Avenue, a 26-story, 860,000-square-foot building in the Garment District. Matthew Mandell of GFP Real Estate represented the landlord in the lease negotiations on an internal basis. Marc Shapses, Eva Shih and Roi Shleifer of Savills represented the tenant.
HOUSTON — Colliers has negotiated the sale of a 178,495-square-foot office building in West Houston. According to LoopNet Inc., the 10-story building at 2401 Fountain View Drive was built in 1981 and renovated in 2017 and offers amenities such as a conference center and an onsite restaurant. David Carter of Colliers represented the undisclosed seller in the transaction. The buyer and sales price were also not disclosed.
Joint Venture Opens 300,000 SF Mixed-Use Building at McEwen Northside in Metro Nashville
by John Nelson
FRANKLIN, TENN. — A joint venture between Boyle Investment Co., Northwood Investors and Northwood Ravin has opened Block E, a new 300,000-square-foot mixed-use building in Franklin, a city in Nashville’s Cool Springs district. The nine-story, $125 million property is one of the anchors of the McEwen Northside mixed-use development. Block E features a modern training room, full-service fitness center, offices, ground-level retail space and a parking garage. Office tenants include TMPartners PLLC, also the project’s architect, and Designed Conveyor Systems, a supply chain company. Retail tenants include Culinary Dropout, Oak Hall and Hawkers Asian Street Food. In addition to TMPartners, the design-build team includes civil engineer Kimley-Horn and general contractor Hoar Construction. Northwestern Mutual partnered with Boyle Investment, Northwood Investors and Northwood Ravin on the project.