DOVER, N.J. — Locally based owner-operator Legacy Real Estate Developers has sold a 126,108-square-foot industrial and office building located in the Northern New Jersey community of Dover. The building at 570 Mount Pleasant Ave. formerly housed the American headquarters operations of watchmaker Casio. Elli Klapper of CBRE represented Legacy, which acquired the building last fall in partnership with Saddleback Real Estate Developers and Commerce Park Investors, in the transaction. Dan Whitehead of Resource Realty represented the buyer and future occupant, logistics group Z Transportation Inc.
NEW YORK CITY — Altana has signed a 10-year, 62,309-square-foot office lease at The PENN District, a two-building, 4.4 million-square-foot development in Midtown Manhattan. The provider of AI-driven trade and supply chain management solutions will establish its new headquarters office across the entire 21st floor of PENN 2. Sam Seiler of CBRE and Joseph Sipala of JLL represented Altana in the lease negotiations. The landlord, Vornado Realty Trust, was self-represented.
PHOENIX — Trammell Crow Co. has completed a 181,000-square-foot mixed-used development in Phoenix. Project partners include U.S. Realty Advisors, RSP Architects, Wespac Construction, Keyser and JLL. The 8-acre project consists of a 145,000-square-foot Class A office building serving as Sprouts Farmers Market’s corporate headquarters, a 25,000-square-foot flagship Sprouts grocery store and approximately 11,000 square feet of additional retail space. The grocery store opened to the public on July 24, 2026, and the office headquarters building is now ready for occupancy. Located within the CityNorth development near 56th Street and Loop 101, the headquarters features a community garden, rooftop deck, fitness center and culinary kitchens.
NEW YORK CITY — Veeva has signed a 62,223-square-foot office lease at The PENN District, a two-building, 4.4 million-square-foot development in Midtown Manhattan. The provider of cloud software, AI, data and consulting services for the life sciences industry will occupy the entire 11th floor of PENN 2 on a 12-year lease. Jim Wenk and Kirill Azovtsev of Savills represented Veeva in the lease negotiations. The landlord, Vornado Realty Trust, was self-represented.
CHICAGO — Tishman Speyer has received a $340 million CMBS loan for the refinancing of The Franklin, a two-tower office complex in Chicago’s West Loop. JPMorgan led the single asset single borrower (SASB) loan with Bank of America and Deutsche Bank serving as co-lenders. Proceeds from the five-year, floating-rate loan will be used to pay off The Franklin’s existing loan and fund ongoing leasing efforts. Tishman Speyer has secured 460,000 square feet of new leases and extensions at the property since June 2025, leaving the asset 84 percent leased. Tenants at the 2.5 million-square-foot campus include The Options Clearing Corp., Robert W. Baird, Amazon Web Services, Guggenheim Partners and The Trade Desk. The Franklin encompasses a 60-story tower at 227 W. Monroe St. and a 34-story tower at 222 W. Adams St.
EDINA, MINN. — CBRE has arranged $11 million in refinancing for Grandview Square, a 98,561-square-foot office building in Edina. Billy Mork, Joel Torborg and Mike Vannelli of CBRE secured a five-year, fixed-rate loan on behalf of Capital Partners, a Minnesota-based commercial real estate investment and management firm. A life insurance company provided the loan, which features interest-only payments for the full term and a 5.89 percent interest rate. Built in 2001 and renovated in 2025, the property offers surface and underground heated parking, a fitness center, golf simulator, shared conference rooms, a tenant lounge and outdoor patio. The three-story building is fully leased to 16 tenants.
AUSTIN, TEXAS — An affiliate of Houston-based Hines has purchased 405 Colorado, a 206,000-square-foot office building in downtown Austin. The building was fully leased at the time of sale to tenants such as JPMorgan Chase, Bain & Co. and AllianceBernstein. Suites feature flexible configurations, and the building’s signature amenity is a 14th-floor sky lounge with conference rooms and a café. According to the Austin Business Journal, Brandywine Realty Trust sold the building for $151 million.
NORFOLK, VA. — Newmark has negotiated the $26 million sale of 150 West Main Street, a 233,772-square-foot trophy office tower located in downtown Norfolk’s Waterside District. Kawa Capital Management was the buyer. Mark Williford, Will Bradley and Evan Wells of Newmark represented the seller, Gate Petroleum Co., in the transaction. Constructed in 2002, the 21-story tower’s onsite amenities include 24-hour security service, attached parking, a 2,000-square-foot multi-purpose meeting room, a full-service restaurant and a ground-level bank.
GERMANTOWN, TENN. — Marcus & Millichap has brokered the $24.5 million sale of Conrad Pearson Clinic, a 33,777-square-foot medical office building located in Germantown, roughly 21 miles southeast of Memphis. Spencer Koch and Chris Biuso of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity. Jody McKibben served as Marcus & Millichap’s broker of record in Tennessee in the transaction. Built in 2002 at 1325 Wolf Park Drive, Conrad Pearson Clinic and its integrated affiliate, the Wolf River Surgery Center, fully occupied the property at the time of sale, according to LoopNet Inc. The property is situated near Methodist Le Bonheur Germantown Hospital, Saint Francis Medical Partners Germantown and Baptist Memorial Rehabilitation Hospital.
WINDSOR, CONN. — Metro Boston-based developer Condyne Capital Partners has received approval for an office-to-residential conversion project in Windsor, located north of Hartford. Designed by Maugel Destefano Architects, the project will transform the 99,480-square-foot building at 500 Day Hill Road, which formerly housed the operations of commercial printing and packaging company Konica Minolta, into a 300-unit apartment community. The new apartment community will offer studio, one- and two-bedroom units. Amenities will include a pool, fitness center, pickleball court, multi-purpose court, dog park and outdoor grilling and dining areas. Construction is scheduled to begin this fall.