WESTPORT, CONN. — CBRE has brokered the $16.5 million sale of a 42,432-square-foot office building located at 33 Riverside Ave. in the southern coastal Connecticut city of Westport. The waterfront building rises five stories and was 91 percent leased at the time of sale. Jeffrey Dunne, Steve Bardsley, Jeremy Neuer, David Gavin and Travis Langer of CBRE represented the seller, an entity doing business as Abbey Road Riverside LLC, in the transaction. The team also procured the buyer, The Feil Organization.
FORT COLLINS, COLO. — NorthPeak Commercial Advisors has arranged the sale of an office building located at 3555 Stanford Road in Fort Collins. The property traded for $3.3 million, or $171 per square foot. Kevin Calame and Matt Lewallen of NorthPeak Commercial Advisors represented the undisclosed seller in the deal. The name of the buyer was not released. The 19,323-square-foot building features 13 office suites.
HOUSTON — CBRE has negotiated a 64,018-square-foot office lease at Westway Plaza, a 325,000-square-foot building located two miles northwest of Houston’s Energy Corridor. Kevin Saxe of CBRE represented the tenant, independent oil and gas provider Surge Energy, in the lease negotiations. Surge Energy is relocating from nearby Heron Lakes Office Park and adding 25,000 square feet to its corporate footprint. The move-in is scheduled for February 2023.
CHERRY HILL, N.J. — Marcus & Millichap has brokered the $21.4 million sale of Cherry Hill Office Center, a five-building campus located outside of Philadelphia in Southern New Jersey. The buildings were constructed between 1968 and 1975 and total 183,731 square feet. Brent Hyldahl and Alan Cafiero of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction. Cherry Hill Office Center was 90 percent leased at the time of sale.
MARLBOROUGH, MASS. — Lifeline Systems Co., a provider of medical alert devices and technology, has signed a 41,375-square-foot office lease in Marlborough, a western suburb of Boston. The tenant will relocate from nearby Framingham to the third floor of a 116,786-square-foot building at 200 Donald Lynch Blvd. in 2023. Kelleher & Sadowsky represented the landlord, Minardi Ltd., in the lease negotiations.
SUNNYVALE, CALIF. — Gantry has arranged $97 million in permanent financing to retire construction debt for a four-story, LEED Gold-certified office building in Sunnyvale’s Perry Park office district. Located at 675 Almanor Ave., the property features 152,000 square feet of Class A office space. Tony Kaufmann of Gantry arranged the financing for the borrower, Dollinger Properties. The nonrecourse, balance-sheet loan is structured with two fundings. The permanent, interest-only loan was structured with flexible prepayment and term extension options. A life insurance company lender provided the capital and locked the borrower’s rate 90 days in advance of closing.
DENVER — A joint venture between Rancho Santa Margarita, Calif.-based Kairos Investment Management Co. and Harbor Associates has purchased The George, an office and retail property located at 820 16th St. in Denver. Terms of the transaction were not released. Constructed in 1906 and renovated in 2020, The George is an eight-story, 91,027-square-foot office building with ground-floor retail space. The asset recently received property improvements, including new conference areas, a new lounge, updated HVAC and bicycle storage.
NASHVILLE, TENN. — GBT Realty Corp., a locally based commercial real estate developer, has opened One22One, a $140 million office tower in Nashville. Situated at 1221 Broadway in the city’s Gulch neighborhood, the building rises 24 stories and totals 373,000 square feet. FirstBank occupies 52,000 square feet of office space on floors 13 and 14 that will include the headquarters of FB Financial Corp. (NYSE: FBK), the parent company of FirstBank. Additional, soon-to-be-announced tenants have reserved 120,000 square feet of space, according to GBT Realty. One22One will also house an 11,000-square-foot restaurant, Chotto Matte, that will be situated on the first and second floors. The exterior of One22One features a glass façade and a porte-cochère (entryway), as well as an outdoor amenity deck overlooking downtown Nashville’s skyline. Interior amenities include an upscale fitness center with showers and lockers; tenant lounge with workspaces and a grab-and-go market; wellness room; and a conference facility. The property also features a nearly touchless elevator system, gateless parking technology and high-end, independent HVAC systems. Frank Thomasson, Taylor Hillenmeyer, Janelle Gallagher and Byran Fort are the exclusive listing agents for One22One, which has about 200,000 square feet of office space available to lease. An additional 1,700 …
AUSTIN, TEXAS — Tishman Speyer has sold The Foundry, a 240,000-square-foot office complex in East Austin. The New York City-based real estate giant acquired the first of The Foundry’s two buildings in January 2021 and the second in July 2021 from locally based developer Cielo Property Group. Mike McDonald and Jonathan Napper of Cushman & Wakefield represented Tishman Speyer in the latest sale. Beacon Capital Partners purchased the asset, which was 96 percent leased at the time of sale, for an undisclosed price.
FORT WORTH, TEXAS — Texas-based accounting firm Weaver has signed a 35,948-square-foot office lease renewal in Fort Worth’s West Seventh district. Scott Morse, Scott Jessen, Andy Goldston, Daniel Mullen and Katherine Jessen of Citadel Partners represented Weaver in the lease negotiations. Matt Carthey and Jake Neal of Holt Lunsford Commercial represented the landlord, Macfarlan Capital Partners. Weaver, which also recently signed a new lease in Houston, is temporarily operating out of a smaller suite and plans to move into its newly renovated space in November.