Office

Esters-114-Business-Center-Irving

IRVING, TEXAS — Liquid Environmental Solutions has signed a 39,528-square-foot office lease extension at Esters 114 Business Center in Irving. The lease ensures that the waste management company will continue to operate its corporate headquarters at the building, which is 91 percent leased. corporate headquarters. Clint Madison and John Fancher of Cushman & Wakefield represented the landlord, Stanton Road Capital in the lease negotiations. Ryan Buchanan and Josh White with CBRE represented the tenant.

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HYATTSVILLE, MD. — Government Investment Partners (GIP) has sold a 189,000-square-foot office building located at 3311 Toledo Road in Hyattsville for $45 million. The Deer Park, Ill.-based company purchased the 10-story office building in 2019 for $16 million as part of a joint venture. Located about seven miles of northeast of Washington, D.C., the property is anchored by the Centers for Disease and Control’s (CDC) National Center for Health Statistics and the Department of Justice. Shaun Weinberg, Eric Berkman, Scott Johnston and Robert England of Cushman & Wakefield represented GIP in the transaction. The buyer was not disclosed.

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RALEIGH, N.C. — CBRE|Raleigh has brokered the sale of Situs Office Park, a three-building office campus spanning 156,666 square feet on Raleigh’s west side. Atlanta-based The Simpson Organization purchased the park from Adler Real Estate Partners for an undisclosed price. Patrick Gildea of CBRE|Raleigh represented the seller in the transaction. The park was 91 percent leased at the time of sale to regional and national tenants including Circle K Stores, the General Services Administration (GSA), Millennia Patient Services, Silanna Semiconductor and MidPath Care Centers. CBRE|Raleigh is the leasing agent for Situs, which is situated on 14.8 acres off Situs Court near I-440 and I-40.

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BLUE ASH, OHIO — Aerospace and defense company Quest Defense has signed a 25,702-square-foot office lease for its new headquarters at Pfeiffer Place at Parkview in Blue Ash near Cincinnati. The company is relocating from its Class B space at SharonView Corporate Center. Pfeiffer Place offers a conference center, café and onsite security. Todd Pease of JLL represented the landlord, Ohio National Financial Services.

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CHARLESTON, S.C. — Patterson Real Estate Advisory Group has arranged the refinancing of Charleston Tech Center, an 88,000-square-foot office building in Charleston. MetLife Investment Management, the institutional asset management arm of MetLife Inc., provided the undisclosed amount of financing. The borrowers, Iron Bridge Capital and Hunt Cos., delivered the six-story building in 2021. The property was 84 percent leased at the time of financing to tenants including Charleston Digital Corridor, a city-backed technology incubator that occupies the full second floor (17,000 square feet); Conrex, a single-family rental platform owned by Brookfield (15,000 square feet); and Insight Global, a tech staffing firm (7,000 square feet). Charleston Tech Center is located in Charleston’s Upper Peninsula adjacent to the city’s historic district and near I-26 and US Highway 17. In addition to modern offices, Charleston Tech Center includes ground-level retail space, rooftop amenity space, conference spaces, bike racks and showers.

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1700-7th-Ave-Seattle-WA

SEATTLE — Clise Properties, a family-owned and operated Seattle real estate developer, has purchased 1700 7th Avenue, a Class A+ office tower in downtown Seattle. The company originally developed the building and has maintained a majority ownership stake. The transaction brings Clise to full ownership. Built in 2001, 1700 7th Avenue is a 24-story, 550,000-square-foot office building with street-level retail space. Building amenities include a private tenant rooftop deck on the 10th floor, floor-to-ceiling windows, Starbucks Coffee and UPS Store onsite and underground parking with a dedicated executive-level exit. As the sole owner, Clise Properties plans to upgrade the building’s amenities with a new fitness center, conference center, food operator and an updated patio and outdoor event area on the 10th floor. Additional upgrades will include a new expanded bike storage room with new locker rooms, showers, drying room and electric vehicle charging stations. Tim O’Keefe, Jesse Ottele and Cavan O’Keefe of Newmark have served as exclusive leasing advisors for the property since March 2021.

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LOS ANGELES — Newmark has brokered the sale of 640 North Sepulveda Blvd., an office property located in Westside Los Angeles. Vectra Management Group sold the building to an undisclosed buyer for $32.5 million. Built in 1987, the two-story, 45,630-square-foot office building underwent a $3 million renovation in 2019. The property offers nearly 12,000 square feet of outdoor work and recreation space, including an open courtyard, outdoor patio, barbecue area, basketball court, designated pet area, water features, ping pong tables, fire pit and lounge area. At the time of sale, the building was 27 percent occupied. Sean Fulp, Ryan Plummer and Mark Schuessler of Newmark represented the seller, while David Kluth and Aliya Coher of Newmark represented the buyer in transaction.

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Lee-Associates-LA-Downtown-CA

LOS ANGELES — Lee & Associates has grown its Southern California presence with the opening of a new office in downtown Los Angeles. The office will specialize in industrial, office and investment brokerage, with plans to strategically recruit teams that will grow its capabilities in multifamily and retail. Led by Jack R. Cline Jr., Lee & Associates Los Angeles – Downtown consists of 13 brokerage professionals, including Doug Cline, Tony Naples, Evans Jurgensen, Matt Eddy, Miles Solomon, Loren Kaplan, Everett Phillips, Mattison Behr, David Cox, Sam Rinkov and Allan Roman. Additional team members include Madeline Segura, Andy Baquerizo, Maggie Kusumawathy, Ebe Puyolt and Lori Thor. The 5,000-square-foot Lee & Associates Los Angeles – Downtown office is located at 1201 N. Main St. As the office expands, the firm has the option to take additional, adjacent square footage totaling 7,500 square feet.

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CHICAGO — Echo Global Logistics and VSA Partners have renewed their office leases at 600 West Chicago, an office and retail property owned by Sterling Bay in Chicago’s River West submarket. Echo, a provider of technology-enabled transportation and supply chain management services, will remain in its 185,000-square-foot space that it has called home since its inception in 2005. VSA, a global creative agency and tenant in the building since 2008, restructured its lease to 25,000 square feet. Andrea VanGelder, Kellen Monti, Matt Carolan and Paul Giannopoulos of JLL represented Echo, while Steven Livaditis and Jon Milonas of CBRE represented VSA. Russ Cora and Austin Lusson represented Sterling Bay on an internal basis.

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NAPERVILLE AND WARRENVILLE, ILL. — Greenstone Partners has brokered the sale of a three-building office portfolio in Naperville and Warrenville for $16 million. Named the Cantera-Naperville Office Portfolio, the collection of assets totals 130,000 rentable square feet and is 86 percent leased. The properties are located at 4300 and 4580 Weaver Parkway in Warrenville and 1601 Bond St. in Naperville. Jason St. John and Paul Tesdal of Greenstone represented the seller, a Naperville-based real estate operator. The duo also procured the buyer, a Chicagoland-based family office that completed a 1031 exchange.

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