NEW YORK CITY — Food52, an e-commerce firm that supplies cookware, has signed a 42,000-square-foot office lease at Dock 72, a 675,000-square-foot office building located within the Brooklyn Navy Yard. The company will relocate from Manhattan’s Chelsea neighborhood to occupy the entire 13th floor of Dock 72 beginning in the second half of next year. Locally based owner-operator Rudin Development co-developed the property, which is surrounded by water on three sides, in partnership with Boston Properties (NYSE: BXP) and WeWork. Dock 72 offers amenities such as a rooftop conference center, ground-floor food hall, fitness and wellness center and an open lawn with a basketball court. Helen Paul and Rico Murtha of Cushman & Wakefield represented the tenant in the lease negotiations. Robert Steinman of Rudin, Andrew Levin of BXP, Joe Cirone, Ron Lo Russo and Patrick Dugan of Cushman & Wakefield and Sacha Zarba and Freddie Fackelmayer of CBRE represented ownership.
FRISCO, TEXAS — Dallas-based developer HALL Group has unveiled plans for the $7 billion mixed-use expansion of HALL Park, an existing 2.2 million-square-foot, 15-building office park located in Frisco. The full master plan will bring the development to 9.5 million square feet with a mix of office, hospitality, residential and retail uses. The $500 million first phase of development includes a Class A office tower, 154-key boutique hotel, 19-story luxury residential tower, a collection of 60 executive suites and a 10,000-square-foot food hall surrounding a community park. HKS Architects designed the 16-story office building, which will span 410,000 square feet. Amenities include 10,000 square feet of ground-level retail and restaurant space, a corporate lounge, fitness center, meeting space to accommodate upwards of 230 people, a seven-level parking garage and rooftop decks. Merriman Anderson Architects designed the 110,000-square-foot, full-service hotel component of the project, which will offer 13,000 square feet of indoor and outdoor event space, including a 3,000-square-foot ballroom; an outdoor swimming pool; gardens; a state-of-the-art fitness center; chef-driven restaurant and bar; and an expansive patio overlooking the community park. WDG Architecture designed the 331,529-square-foot residential tower with interiors by Dallas-based Waldrop + Nichols Studio. The community will offer one- …
SAN DIEGO, CALIF. — Longfellow Real Estate Partners has acquired Luskin Business Park, a nine-property office portfolio totaling 371,281 square feet in San Diego. The sales price was $315.4 million. Longfellow plans to convert the assets into a massive life sciences campus. The properties are located at 6150, 6160, 6370, 6440, 6450, 6540, 6640 and 6650 Lusk Blvd. and 10225 Barnes Canyon Road in the Sorrento Mesa submarket, a part of San Diego that is home to major corporations and has a high demand from life sciences tenants. All of the properties are two-story buildings that are zoned for office, light industrial and other commercial uses, including life sciences. Situated on a total of 20.6 acres, the portfolio has access to top San Diego research institutions, including Scripps Research, UC San Diego, the Salk Institute and Sanford Burnham Prebys Medical Discovery Institute. San Diego remains one of the top markets for life sciences demand, according to CBRE’s U.S. Life Sciences Midyear 2021 report. Lynn LaChapelle, Bob Prendergast, Sach Kirpalani and Michael Leggett of JLL represented the seller, PS Business Parks, in the transaction. “This was a rare opportunity to acquire a life sciences redevelopment opportunity of scale in one of …
CHICAGO — Datassential has leased 13,806 square feet of office space at 1201 W. Lake St. in Chicago’s Fulton Market district. The company helps food and beverage users develop, launch and sell new concepts by leveraging data. Datassential will move from 18 S. Michigan Ave. when the new lease commences in January. McCaffery and New York Life owns the 135,000-square-foot building, which was constructed in 2019. Dougal Jeppe of Colliers Chicago represented the tenant in the lease transaction. JLL’s Craig Coupe, Brad Despot and Mike Curran represented building ownership.
NEW YORK CITY — Locally based general contractor Archstone Builders is underway on renovations of the McGraw-Hill Building, a historic property at 330 W. 42nd St. in Manhattan. Since its original construction in 1931, the 35-story, 700,000-square-foot building has served as the headquarters of both the namesake publishing giant and Marvel Comics. Capital improvements include a restoration of the original design of the façade, a window replacement program and an upgrade of the entryways and storefront. MdeAs is the project architect, and New York-based Resolution Real Estate Partners owns the building.
BRECKSVILLE, OHIO — The Sherwin-Williams Co. (NYSE: SHW) has broken ground on its new global research and development (R&D) center in Brecksville, a southern suburb of Cleveland. The 600,000-square-foot facility will support product development, coatings research, color technology and process engineering. Cleveland-based Sherwin-Williams is also building a new global headquarters in downtown Cleveland that will span approximately 1 million square feet. The company plans to invest a minimum of $600 million to build both the headquarters and the R&D facility. Together, the two facilities will house more than 3,500 employees. Sherwin-Williams estimates it will add a minimum of 400 jobs at these properties over time, an increase of 11 percent to the company’s current local workforce. The R&D center is expected to open by the end of 2024.
COLUMBUS, OHIO — Law firm Taft has signed a long-term lease for 50,000 square feet at Huntington Center, a 1 million-square-foot office tower in downtown Columbus. Taft will relocate to the 37-story building in late 2022 and will occupy three floors. Developed by Hines in 1984, Huntington Center is located directly across from Ohio Statehouse, the state capitol building. The property underwent an $18 million renovation in 2019. Collin Wheeler and Brandon Ellis of CBRE represented Hines in the lease transaction. Jeff Carey of JLL represented Taft.
WESTBOROUGH, MASS. — Amazon (NASDAQ: AMZN) has opened a 350,000-square-foot robotics facility in Westborough, about 30 miles west of Boston, a move that adds about 200 new jobs to the regional economy. The facility will feature corporate offices, research and development labs and manufacturing space for the production of mobile drive units, which are used for inventory selection and transportation in the company’s automated warehouses. Amazon also operates a robotics facility in North Reading, Massachusetts.
TEMPE, ARIZ. — Little Rock, Ark.-based Tempus Realty Partners has purchased an office complex located at 8312 S. Hardy Drive in Tempe. Woodland Hills, Calif.-based Younan Properties sold the asset for an undisclosed price. Built in 2000, the two single-level office buildings offer a total of 138,180 square feet of space. Three investment-grade tenants occupy the asset. Isaac Smith of Colliers in Arkansas represented the buyer, while Mindy Korth of Colliers in Arizona represented the seller in the transaction.
LOS ANGELES — GPI Cos. has completed the disposition of a medical office building located in Los Angeles’ North Hollywood neighborhood. Principal Real Estate Investors acquired the asset for an undisclosed price in an off-market transaction. Located at 4343 Lankershim Blvd., the three-story property features 32,418 square feet of medical office space. The property is fully leased to a local health institution and offers pain medicine and digestive disease services. Andrew Milne, Evan Kovac and Matt DiCesare of JLL Healthcare Capital Markets, along with Bryan Lewitt of JLL’s Los Angeles Healthcare Markets, represented the seller in the deal.