Office

IPA Brokers Sale of 41,191 SF Shasta Orthopedics Medical Office Building in Redding, California

by Amy Works January 25, 2022

REDDING, CALIF. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of The Shasta Orthopedics Medical Office Building in Redding. Terms of the transaction were not released. Anthony Lunceford, Joe Massa and Michael Grenaway of IPA represented the undisclosed seller and buyer in the deal. Adam Christofferson served as Marcus & Millichap’s broker of record in California. The Shasta Orthopedics Medical Office Building features 41,191 square feet of space and is within a two-mile radius of Shasta Regional Medical Center, Mercy Medical Center Redding and Vibra Hospital of Northern California.

January 25, 2022

Georgia Leasing Activity Office Southeast

Airbnb to Open New Offices in West Midtown Atlanta

by Julia Sanders January 24, 2022

ATLANTA — Airbnb, a San Francisco-based lodging company, plans to open a new technical hub in the West Midtown neighborhood of Atlanta. Dubbed Atlanta Tech Hub, the new office will be situated within Encore, a 50,000-square-foot space inside SJC Ventures’ Interlock mixed-use project at the corner of 14th Street and Howell Mill Road. Situated about three miles from Georgia State University and one mile from Georgia Tech, Airbnb’s office space is scheduled to open later this year. Encore is a creative loft and mixed-use office space that is dedicated to technology startup growth and expansion. Airbnb’s initial office will be 5,000 square feet with eventual plans to move to a bigger space later on. Georgia Advanced Technology Ventures, an affiliate of the Georgia Tech, is managing Airbnb’s new offices. In the beginning of 2021, Airbnb first announced it was opening a new hub in Atlanta but did not disclose what part of the city. The lodging company says it hopes to add new high-skilled technical and non-technical jobs at the tech hub. According to research by Oxford Economics, in 2019, Airbnb guest spending in Atlanta supported 3,400 jobs, including 1,200 jobs in the restaurant business. The company also says it …

January 24, 2022

Florida Loans Office Southeast

CIM Group Closes $175M Loan for Office Tower in Tampa

by Julia Sanders January 21, 2022

TAMPA, FLA. — CIM Group has closed a $175 million loan for Bank of America Plaza, a 42-story, Class A office tower in Tampa. A fund managed by CIM Group provided the funds to the borrowers, an affiliate of Miami-based Banyan Street Capital and funds managed by Oaktree Capital Management LP. Built in 1986 and renovated in 2018, Bank of America Plaza spans two city blocks, making it one of the largest office developments in the Southeast, according to CIM Group. The property includes a 795,944-square-foot office tower and an adjacent 1,260-space parking structure that is connected to the property by a covered, climate-controlled skybridge. Building amenities include a newly renovated lobby, fitness center, tenant business lounge and a conference facility. Bank of America Plaza is Energy Star-rated and meets LEED Gold standards. Located at 101 E. Kennedy Blvd. at the corner of North Tampa Street and East Kennedy Boulevard in Tampa’s Central Business District, the property is situated 9.2 miles from Tampa International Airport.

January 21, 2022

Michigan Midwest Office

Oxford Cos. Launches Equity-for-Rent Office Program for Startup Companies in Ann Arbor

by Kristin Harlow January 21, 2022

ANN ARBOR, MICH. — Oxford Cos. has launched the Oxford Instant Office Simple Agreement for Future Equity (OXIO SAFE) program aimed at helping Ann Arbor startups utilize office space with minimal upfront costs. Oxford says the program will provide a pathway for startups to lease office space without the significant financial risk that comes with entering a traditional commercial real estate lease. Qualified startups can receive up to one year of rent in exchange for a simple agreement for future equity. Open to startups that are currently working with a local incubator or economic development organization in the area, OXIO SAFE leases are available for six to 12 months for move-in ready office suites. Ann Arbor is home to one of the fastest growing startup hubs in the nation, according to Desai Accelerator, a professional business accelerator created in partnership with the University of Michigan. Oxford Cos. is a fully integrated real estate company offering services in property management, commercial and residential leasing, commercial construction and investments.

January 21, 2022

Acquisitions Office Texas

Vista Cos. Sells 115,000 SF Office Building in North Austin

by Taylor Williams January 21, 2022

AUSTIN, TEXAS — An ownership group led by an affiliate of Houston-based investment and management firm Vista Cos. has sold Vista Park Central, a 115,000-square-foot office building located on Parmer Lane on the north side of Austin. The property was 93 percent leased at the time of sale. Kelsey Shebay and Drew Fuller of JLL represented Vista Cos., as well as the California-based buyer, in the transaction.

January 21, 2022

Acquisitions Massachusetts Northeast Office

Newmark Negotiates $151M Sale of Office Campus in Andover, Massachusetts

by Taylor Williams January 21, 2022

ANDOVER, MASS. — Newmark has negotiated the $151 million sale of a four-building office complex that is situated within Minuteman Park, a corporate campus located about 25 miles north of Boston in Andover. The buildings at 30, 100 and 200 Minuteman Road, along with the property at 138 River Road, total approximately 600,000 square feet. Robert Griffin, Edward Maher, Matthew Pullen, Samantha Hallowell and William Sleeper of Newmark represented the seller, Spear Street Capital, in the transaction. The buyer was not disclosed.

January 21, 2022

Acquisitions Healthcare North Carolina Office Southeast

JLL Income Property Trust Purchases Medical Office Property in Durham

by Julia Sanders January 20, 2022

DURHAM, N.C. — JLL Income Property Trust has purchased Duke Medical Plaza at Patterson Place, a 59,978-square-foot medical office building in south Durham. Brannan Knott, John Mikels, Daniel Flynn and Woody Flythe of JLL Capital Markets represented the seller, an entity doing business as BP Phase2 LLC, and procured the buyer. The sales price was not disclosed. Completed in 2010, Duke Medical Plaza at Patterson Place is fully leased with Duke Health leasing more than 80 percent of the space. The property offers a variety of services, including dermatology, micrographic surgery, radiology, women’s health, urogynecology and obstetrics/gynecology (OB/GYN). Located at 5324 McFarland Dr., the four-story property is situated adjacent to Patterson Place Shopping Center. Additionally, the medical office facility is situated at the intersection of U.S. 15/501 and Interstate 40. The property is also 5.3 miles from Duke University, 6.3 miles from Duke University Hospital and 5.3 miles from UNC Medical Center.

January 20, 2022

Acquisitions Illinois Midwest Office

JLL Arranges Sale of Two-Building Office Portfolio in Downers Grove, Illinois

by Kristin Harlow January 20, 2022

DOWNERS GROVE, ILL. — JLL Capital Markets has arranged the sale of Corridors I and II, a two-building office portfolio totaling 301,606 square feet in the Chicago suburb of Downers Grove. The sales price was undisclosed. Built in the late 1990s, the properties are located at 2651 and 2655 Warrenville Road with immediate access to I-88 and I-355. The five-story buildings are fully leased to tenants such as Huntington, Oak Street Health and Citgo. Amenities include a fitness center, conference facility, deli, tenant lounge and parking garage. Patrick Shields, Sam DiFrancesca, Jaime Fink, Jeff Bramson and Bruce Miller of JLL represented the seller, Soundview Real Estate Partners. The team also procured the buyer, Group RMC.

January 20, 2022

Leasing Activity Life Sciences Office Texas

PathGroup Signs 126,596 SF Office, Lab Lease in Coppell, Texas

by Taylor Williams January 20, 2022

COPPELL, TEXAS — Nashville-based medical consulting firm PathGroup has signed a 126,596-square-foot lease to occupy the entirety of 121 Corporate Center, an office and laboratory building in Coppell, located near Dallas-Fort Worth International Airport. Dean Collins, Mark Collins, Jason Dodson, Michael Sessa and Jack Keenan of Cushman & Wakefield represented PathGroup in the lease negotiations. Nathan Durham and Duane Henley of Newmark represented the landlord, a partnership between Blackstone and Link Logistics Real Estate.

January 20, 2022

Acquisitions Massachusetts Northeast Office

Newmark Negotiates $190M Sale of Metro Boston Office Campus

by Taylor Williams January 20, 2022

ANDOVER, MASS. — Newmark has negotiated the $190 million sale of 3000 Minuteman Road, an office development that is situated within Minuteman Park, a corporate campus located about 25 miles north of Boston in Andover. According to LoopNet Inc., the property consists of six buildings totaling roughly 700,000 square feet on a 120-acre site along the Merrimack River. Robert Griffin, Edward Maher, Matthew Pullen, Samantha Hallowell and William Sleeper of Newmark represented the seller, Atlantic Management, in the transaction. The buyer was not disclosed.

January 20, 2022

Newer Posts

Older Posts