ATLANTA — Cousins Properties and Town Lane have acquired Proscenium, an office building located in the Midtown submarket of Atlanta, for $83 million. The purchase was executed through a newly formed joint venture, with Town Lane owning 80 percent of the venture and Cousins owning the remaining 20 percent. Atlanta Business Chronicle reports that the seller is an affiliate of Manulife Financial Corp. Locally-based Cousins will manage the property — which totals 526,000 square feet — and provide leasing services. Located within the Colony Square mixed-use development, the Proscenium was 74 percent leased at the time of sale. The new ownership plans to execute improvements at the property. Simpson Thacher & Bartlett LLP is providing legal counsel to Town Lane, and Eversheds Sutherland (US) LLP is serving as counsel to Cousins.
MIAMI — Tom Brady Enterprises (TBE) Capital Management has signed an 8,415-square-foot office lease at THE WELL Bay Harbor Islands, a mixed-use project currently under development in Miami. TBE will relocate its headquarters to a 113,000-square-foot office building located at 1177 Kane Concourse within the development. Scheduled to open in 2025, the office building is currently 35 percent preleased. Blanca Commercial Real Estate, which serves as the leasing agent for THE WELL Bay Harbor, represented the landlord, Terra, in the lease negotiations. Colliers and Current Real Estate Advisors represented TBE. Upon completion, THE WELL Bay Harbor will also feature an eight-story condominium building, more than 22,000 square feet of amenities and a restaurant. Tom Brady Enterprises manages all business ventures of retired football player Tom Brady, including his portfolio of brands, which includes sportwear company BRADY Brands, wellness brand TB12, production company Religion of Sports and Autograph, which is dedicated to fan engagement. Brady played in the NFL for 23 seasons and won seven Super Bowls, six with the New England Patriots.
GREENWOOD VILLAGE, COLO. — DPC Cos. has purchased Atrium Plaza, an office building in the Denver suburb of Greenwood Village, for $5 million. The buyer, which specializes in the acquisition and development of commercial property in Colorado, Arizona and the Rocky Mountains Region, plans to use the property at 5675 DTC Blvd. as its new headquarters. Denver-based THK Associates will occupy 8,800 square feet of space the property.
AUSTIN, TEXAS — A partnership between developers Lincoln Property Co. and The KOR Group has recapitalized Eastbound, a two-building, 233,550-square-foot office complex in East Austin. Fenway Capital Advisors, which previously owned a minority interest in the property, is now the primary equity partner of the co-developers. Ownership is building out spec suites that can support users with requirements from 5,000 to 41,000 square feet. Construction of Eastbound began in 2020 and was completed in mid-2022. Tenants include landscape architecture firm TBG and Furniture Marketing Group.
PLANO, TEXAS — Cadence McShane Construction Co. has signed a 16,242-square-foot office headquarters lease at One Legacy Circle, a 214,110-square-foot building in Plano. Garrison Efird and Steven Blankenship of Newmark represented the tenant in the lease negotiations. Jared Laake of Bradford Commercial Real Estate Services represented the landlord, an affiliate of Gildenson Real Estate. Occupancy is slated for early 2025.
NEW YORK CITY — A partnership between developers Alchemy-ABR Investment Partners and Cain International has begun leasing a 260,000-square-foot speculative office and retail project located at 125 W. 57th St. in Midtown Manhattan. Designed by FXCollaborative, the 30-story building houses 180,000 square feet of office space starting on the 14th floor, with an average of 10,300 square feet of rentable space per floor. Most suites will have access to private terraces. Gensler designed the office amenity deck, which includes a conference center, tenant lounge, event space with catering facilities and private meeting rooms. Office tenant build-outs are scheduled to begin this fall, and the development team expects move-ins to begin during the first quarter of 2025. JLL is the leasing agent.
CARY, N.C. — The development team behind the 92-acre Fenton mixed-use development in Cary, which includes Hines, Columbia Development and Affinius Capital, has announced a new 186-room hotel coming to the development. The master developers are bringing on Mainsail Lodging & Development and Ross Hotel Partners to co-develop the seven-story hotel, with Mainsail also signed on to operate the property upon completion. The developers will break ground in first-quarter 2025 and open the hotel in first-quarter 2027. Designed by BRPH, the hotel will be a member of the Tribute Portfolio Hotels by Marriott International family of brands and will feature a second-floor signature restaurant and bar; a lobby bar and coffee shop; 6,000 square feet of event space spanning six meeting rooms; a ballroom to accommodate groups up to 300 people; and a 1,500-square-foot culinary studio for cooking demonstrations and ticketed experiences. Other amenities will include a fitness center and an outdoor heated pool with an expanded sundeck. Additionally, the master developers have signed office leases with two new tenants. The deals include a nearly 17,000-square-foot lease with Burns & McDonnell, an engineering, construction and architecture firm, and an approximately 4,400-square-foot lease with Surety Systems, an enterprise resource planning, human …
KANSAS CITY, MO. — Fidelity Security Life Insurance Co. (FSL) has unveiled plans to move its headquarters to Crown Center in Kansas City. FSL and its affiliate, Forrest T. Jones & Co., will occupy three-and-a-half floors and about 75,000 square feet at the 14-story office building at 2600 Grand Blvd. The Kansas City-based specialty insurance company will relocate from its current office one mile away at 3130 Broadway Blvd., a six-story building that it has occupied since 1969. FSL expects to take occupancy of its new office by January 2026 upon completion of a new design and renovation of the space. Nearly 340 employees will occupy the office. FSL has expanded in recent years with the formation of Fidelity Security Life Insurance Co. of New York and Fidelity Security Assurance Co. (FSAC), a property and casualty insurer. FSAC is licensed in 33 states, eyeing nationwide licensure in the coming years. These developments have made it the right time to move offices, according to Brad Jones, FSL vice chairman. Crown Center is an 85-acre complex that serves as the international headquarters of Hallmark Cards and offers more than 1.2 million square feet of office space across four buildings. Crown Center is …
LISLE, ILL. — CBRE has negotiated five office leases totaling 41,802 square feet at The Westwood in Lisle. The leases include: Westpoint Financial (11,179 square feet); Mission Wealth Management (3,263 square feet); Ottosen, DiNolfo, Hasenbalg and Castalado (14,630 square feet); Paycom (6,830 square feet); and Vantage Point Financial (5,900 square feet). Pete Adamo and Adam Lawler of CBRE represented ownership, Briar Meads Capital. Located along I-88, The Westwood is a Class A property totaling 300,000 square feet across two buildings. There are multiple tenant lounges and a fitness center as well as newly renovated lobbies and a new deli.
MINNEAPOLIS — The Social Lights, a marketing agency, has signed an 11,000-square-foot office lease at Steelman Exchange in the North Loop of Minneapolis. Tom Tracy, Katie Tufford and Harrison Rust of Cushman & Wakefield represented ownership, while CBRE’s John Lorence represented the tenant. Studio BV is the designer for the tenant’s new workspace. Located at 241 N. Fifth Ave., Steelman Exchange is a newly constructed creative office property that totals 220,000 square feet and features a tenant lounge with rooftop space, fitness center and podium parking garage. The Social Lights joins other tenants Grant Thornton, Calabrio and a global financial institution at the building, which has 75,000 square feet available for lease.