LEWISVILLE, TEXAS — WIS International, a provider of global inventory and data collection services, has signed a 70,996-square-foot office lease at Crown Centre, a 140-acre corporate campus located in the northern Dallas suburb of Lewisville. Robbie Baty and Mike Wyatt of Cushman & Wakefield represented the tenant, which plans to move in on Dec. 1, in the lease negotiations. Lauren Halstedt, Ashley Curry and James Esquivel of JLL represented the landlord, Bright Realty.
ISELIN, N.J. — Invitae, a provider of genetic testing services, has signed a 28,000-square-foot office lease renewal and expansion at Woodbridge Corporate Plaza in the Northern New Jersey community of Iselin. The lease term is 10 years. The 630,000-square-foot campus features a fitness center, conference and training facilities, a cafeteria with outdoor seating and an onsite dry cleaner. Charlie Hatfield led a Colliers team that represented the tenant, which is expanding its footprint by 13,500 square feet, in the lease negotiations. The name and representative of the landlord were not disclosed.
What does the Lincoln, Nebraska commercial real estate market have to offer? Quite simply it has land, room to grow, affordability and a centralized location. Pair these attractive and unique features with an educated workforce in a culturally diverse community and the answer becomes clear. Lincoln’s commercial real estate market has a lot of potential. Despite Lincoln’s small size of approximately 300,000 people, it is experiencing the same challenges and triumphs as the bigger metropolitan areas. Warehouse space One of the biggest challenges in the Lincoln market is the low supply of industrial space in a high-demand environment. The industrial vacancy rate as of year-end 2021 was 1.6 percent. Any new product that comes on market is leased quickly and the per-square-foot selling price is trending up with a 31 percent increase in just three years. Unfortunately, in the Lincoln market, the value of new industrial construction building permits has been trending down over the last five years. The rising cost of construction makes this trend even more significant; many developers are unwilling to invest in speculative product without the certainty that tenants will pay the rental rate necessary to provide an adequate rate of return. One local developer, Las …
MORRISTOWN, N.J. — The Silverman Group has completed the renovation of Morristown Plaza, a two-building, 122,000-square-foot office complex in Northern New Jersey. The value-add program delivered upgrades to the various common areas and amenity spaces, which now include a grab-and-go café, fitness center, conferencing facility, onsite bank branch and outdoor seating areas. The Silverman Group has retained Lee & Associates to lease the property.
ALLENTOWN, PA. — iQor, a Florida-based provider of business process outsourcing (BPO) solutions, has opened a 30,000-square-foot office in the Lehigh Valley city of Allentown. The space includes a fitness center and a café and replaces iQor’s old facility in nearby Bethlehem. The company, which more specifically provides customer service, third-party collections and accounts receivable management, employs about 35,000 people across 10 countries.
HILLSBORO, ORE. — JLL Capital Markets has brokered the sale of a single-story call center building, located at 10500 NE Walker Road in Hillsboro, a suburb of Portland. A public REIT sold the asset to Hines Global Income Trust for an undisclosed price. Situated on an 18.9-acre site, 10500 NE Walker Road was renovated in 2009. The property features 16-foot ceiling heights, three dock-high doors, two grade-level doors, 938 parking spaces and LEED Silver certification. The property is fully leased to a long-term financial services tenant. Buzz Ellis, Adam Lasoff, Adam Taylor, Ira Virden, Carrie Kahn, Frank Solorzano and Conan Lee of JLL Capital Markets represented the seller and procured the buyer in the deal.
IRVINE, CALIF. — Boureston Development has completed the disposition of Woodbridge Square, a multi-tenant medical office building in Irvine. Anchor Health Properties acquired the property for $27.6 million. Located at 4980 Barranca Parkway, the 36,104-square-foot building was 94 percent leased at the time of sale to 18 medical, dental and laboratory tenants. Sean Fulp, Mark Schuessler, Ryan Plummer, John Scruggs, Kevin Shannon, Paul Jones and Ken White of Newmark represented the seller in the transaction.
HANAHAN, S.C. — Stan Johnson Co. has brokered the $8.2 million sale of a 15,030-square-foot healthcare facility in Hanahan leased to Coastal Kids Dental and Braces. Jeff Enck and Teresa Lovely of Stan Johnson Co. represented the seller, a locally based private investor. The asset was purchased by a group of 1031 exchange investors from California. Built in 2017, the flagship location houses the tenant’s dental and orthodontic practice, as well as its office support and executive staff. Located at 996 Tanner Ford Blvd. on 1.5 acres, the two-story property is situated 15.1 miles from Charleston and 7.9 miles from Charleston International Airport.
HOUSTON — San Antonio-based USAA Real Estate has sold Park Ten Plaza, a 157,759-square-foot office building in Houston. Park Ten Plaza is situated within the 550-acre Park Ten Business Park master-planned development on the city’s west side and offers a fitness center, conference room and newly upgraded utility systems. Rick Goings, Kevin McConn, Marty Hogan and Jack Moody of JLL represented USAA in the transaction. Cameron Cureton and Wally Reid, also with JLL, arranged an undisclosed amount of acquisition financing on behalf of the buyer, a partnership between Fuller Realty Partners and ICP Funds. Park Ten Plaza was 94 percent leased at the time of sale.
CHICAGO — Hines has completed the concrete core and steel structure for Salesforce Tower Chicago, a 60-story, 1.2 million-square-foot office tower under development in downtown Chicago. The project is the first building in Chicago to require and measure Environmental Product Declarations (EPDs) to quantify the carbon emissions of concrete, steel and other various construction materials, according to Hines. This led to a 19 percent overall reduction in carbon emissions for steel and concrete in comparison to the industry average, adds the developer. Hines partnered with Magnusson Klemencic Associates, a structural and civil engineering firm, to spearhead the creation of the Embodied Carbon Reduction Guidebook to educate Hines employees and industry peers about carbon reduction results. Neither a timeline for completion of Salesforce Tower Chicago was provided, nor were additional tenants besides Salesforce.