Office

Stafford Holdings Buys 88,696 SF Office Building in Phoenix for $22.1M

by Amy Works September 14, 2021

PHOENIX — Idaho-based Stafford Holdings has purchased North Loop 101 Building D, an office building located at 19820 N. 7th Ave. in Phoenix. Los Angeles-based Regent Properties sold the property for $22.1 million. Barry Gabel, Chris Marchildon and Will Mast of CBRE represented the seller, while Blake Hupfer of Premiere Property Group represented the buyer in the deal. The two-story building features 88,696 square feet of Class A office space. At the time of sale, the property was fully leased to two tenants. Centuri Construction Group, a subsidiary of Southwest Gas, occupies 95 percent of the building, with Pacific Western Bank occupying the remaining space.

September 14, 2021

Illinois Leasing Activity Midwest Office

Ally Financial Signs 55,000 SF Office Lease at Schaumburg Towers in Suburban Chicago

by Kristin Harlow September 13, 2021

SCHAUMBURG, ILL. — Ally Financial has signed a 55,000-square-foot office lease at Schaumburg Towers in the Chicago suburb of Schaumburg. Ally, a digital financial services company, will relocate from Itasca, where it currently occupies 44,000 square feet. Ally expects to take occupancy of its new space in the third quarter of 2022. Located on American Lane, Schaumburg Towers is a two-building, 882,000-square-foot office complex. Owner America Landmark Properties has invested more than $20 million to renovate the property in the past few years. Steve Kling and David Florent of Colliers International represented ownership in the lease transaction, which brings the property’s occupancy up to 70 percent. Scott Ohlander of JLL represented Ally.

September 13, 2021

Acquisitions Office Texas

Partners Group, Accesso Sell 505,948 SF Royal Ridge Office Campus in Irving’s Las Colinas District

by Taylor Williams September 13, 2021

IRVING, TEXAS — Switzerland-based global investment firm Partners Group and Florida-based Accesso have sold Royal Ridge, a 505,948-square-foot office campus in Irving’s Las Colinas district, for an undisclosed price. Royal Ridge is a four-building campus that was constructed between 1998 and 2000. Tenants at the property, which has averaged a historical occupancy rate of about 94 percent during its life span, include Michaels and Honda. Todd Savage and Andrew Levy of JLL represented the partnership in the sale of the property to affiliates of Menlo Equities.

September 13, 2021

Development New Jersey Northeast Office

Signature Acquisitions Begins Renovation of 175,000 SF Office Building in Parsippany, New Jersey

by Taylor Williams September 13, 2021

PARSIPPANY, N.J. — Regional office owner and manager Signature Acquisitions has begun the renovation of 100 Kimball, a 175,000-square-foot office building in Parsippany, located in the northern part of the Garden State. The building is currently leased to accounting giant Deloitte, which will be vacating the premises next year. Designed by Studio 1200, the project will include a revitalization of the lobby, a redesign of the café to feature more culinary options and upgrades to the fitness center and conference facilities. Avison Young has been tapped to lease the building following completion of the project, which is scheduled for August 2022.

September 13, 2021

Leasing Activity Life Sciences New Jersey Northeast Office

LIXIL Signs 60,000 SF Headquarters Lease at Middlesex Science Center in Piscataway, New Jersey

by Taylor Williams September 13, 2021

PISCATAWAY, N.J. — LIXIL, a provider of water and housing products, has signed a 60,000-square-foot lease for its new headquarters at Middlesex Science Center, a 685,000-square-foot office and life sciences campus in the Northern New Jersey community of Piscataway. Keystone Property Group owns the campus, which formerly served as an office and data center for AT&T. Scott Lesh and Scott Stange of JLL represented the tenant in the lease negotiations. CBRE represented Keystone.

September 13, 2021

Acquisitions Florida Office Southeast

JLL Brokers Sale of 223,588 SF Office Portfolio in Jacksonville

by Julia Sanders September 10, 2021

JACKSONVILLE, FLA. — JLL Capital Markets has brokered the sale of a two-property, Class A office portfolio totaling 223,588 square feet located at 4190 Belford Road and 4345 Southpoint Blvd. in Jacksonville. Hermen Rodriguez, Robbie McEwan, Ike Ojala, Max Lescano, Blake Koletic, Michael Roukis and Matthew McCormack of JLL represented the buyer, Bradford Allen Investment Advisors LLC, in the sales transaction. A joint venture between TriGate Capital and LRC Properties sold the portfolio for an undisclosed amount. The 4190 Belfort Road property spans 119,230 square feet of office space and was 85 percent leased at the time of sale. The 4345 Southpoint Blvd. property has 103,358 square feet and is fully vacant. Overall, the property is leased to 14 tenants across 11 different industries. The office portfolio is located within Enterprise Corporate Park, about eight miles southeast of downtown Jacksonville. The property is situated just east of Interstate 95 and John Turner Butler Boulevard and is adjacent to St. Vincent’s Medical Center.

September 10, 2021

Florida Leasing Activity Office Southeast

Microsoft Signs 50,000 SF Office Lease at 830 Brickell in Downtown Miami

by Julia Sanders September 10, 2021

MIAMI — Microsoft, a Redmond, Wash.-based computer software and electronics retailer, will open a 50,000-square-foot office inside 830 Brickell in downtown Miami. Microsoft is the second major firm to join the tenant roster at 830 Brickell this year, along with private equity firm, Thoma Bravo, which will lease 36,500 square feet on the top two floors in the tower. 830 Brickell, a 55-story office building in the city’s Brickell district, is currently under construction. Slated for delivery in 2022, the 640,000-square-foot tower was designed by architecture firm Adrian Smith + Gordon Gill, with interiors done by Italian architecture and design company Iosa Ghini Associati. Community amenities will include a health and wellness center, restaurant, open-air rooftop lounge, private conference facility for tenants and 24-hour concierge service. Alexander Brown of Colliers International represented Microsoft in the lease negotiations. Andrew Trench, Brian Gale and Ryan Holtzman of Cushman & Wakefield represented the landlord in the transaction on behalf of developers, OKO Group and Cain International. Cushman & Wakefield is serving as the tower’s exclusive leasing agent.

September 10, 2021

Acquisitions Arizona Healthcare Office Western

Newmark Negotiates $33M Sale of Copper Point Medical Office Building in Gilbert, Arizona

by Amy Works September 10, 2021

GILBERT, ARIZ. — Newmark has arranged the sale of Copper Point, a medical office building located at 3530 S. Val Vista Drive in Gilbert. West Coast Capital Partners sold the asset to CA Ventures for $33 million. The two-story, 91,805-square-foot building was 96 percent occupied by multiple tenants at the time of sale. The tenant mix includes orthopedic surgery, oncology, cardiology and laboratory services. The building is adjacent to Dignity Health Mercy Gilbert Medical Center. Kathleen Morgan and Trisha Talbot of Newmark represented the seller, while the buyer was self-represented in the transaction.

September 10, 2021

Industrial Leasing Activity Office Oklahoma Texas

Aristocrat Gaming Signs 137,500 SF Headquarters Lease in Tulsa

by Taylor Williams September 10, 2021

TULSA, OKLA. — Aristocrat Gaming, a manufacturer of slot machines and similar products, has signed a 137,500-square-foot lease for its new headquarters at 15336 E. Admiral Place in Tulsa. The property is under construction, with the warehouse component scheduled for completion this winter and the office component slated for a summer 2022 delivery. Dwayne Flynn and Ryan Shaffer of CBRE represented Aristocrat Gaming and the landlord, Tulsa-based Miller Investments & Properties, in the lease negotiations.

September 10, 2021

Healthcare Leasing Activity Life Sciences New York Northeast Office

Opentrons Signs 47,790 SF Life Sciences Lease at Innolabs in Queens

by Taylor Williams September 10, 2021

NEW YORK CITY — Opentrons, a provider of lab automation technology, has signed a 47,790-square-foot life sciences lease at Innolabs, a facility located in the Long Island City area of Queens. Pandemic Response Lab, a subsidiary of Opentrons, moved in to a 13,000-square-foot space in late August. Neochromosome, another subsidiary, and Opentrons will occupy the balance of the space beginning in early 2022. Bill Harvey, Jared Horowitz, Jordan Gosin and Emma Kistler of Newmark represented the landlord, a partnership between King Street Properties, The Carlyle Group and GFP Real Estate, in the lease negotiations.

September 10, 2021

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