NEW YORK CITY — Adyen, a Dutch provider of digital payment platforms, has signed a 30,415-square-foot office lease at 71 Fifth Avenue in Manhattan’s Union Square neighborhood. The tenant will occupy 15,177 square feet on the entire 10th floor and 15,238 square feet on the entire 11th floor of the building, which was originally constructed in 1907. Rory Murphy and Thomas Hines of Transwestern represented Adyen in the lease negotiations. Mitchell Konsker, Dan Turkewitz and Ben Bass of JLL, along with internal agents Joseph Jacobson, Jonathan Ratner and Cindy Chang, represented the landlord, Madison Capital.
ARLINGTON, VA. — Skanska USA will invest $129 million to build 3901 Fairfax, an office development in Arlington. Construction is expected to begin this month, and the project is slated for completion in 2023. 3901 Fairfax will be a nine-story, approximately 204,514-square-foot office building and will include a private rooftop deck, conference center, ground floor fitness center, 250-space parking garage with electric car charging stations, ground-floor retail space and a public plaza. Skanska USA received WELL Core Pre-certification for the project and will try to get LEED and WiredScore Gold certifications, as well as an Energy Star certification.
MISSOURI CITY, TEXAS — NorthMarq has arranged an undisclosed amount of acquisition financing for a 64,132-square-foot office building located in the southwestern Houston suburb of Missouri City. Matt Franke of NorthMarq arranged the nonrecourse loan, which carried a 10-year term and a 25-year amortization schedule, through Innovative Capital Advisors on behalf of the undisclosed borrower. The building was 91 percent leased at the time of the loan closing, with Wells Fargo serving as the anchor tenant.
IRVING, TEXAS — Newmark has negotiated the sale of a 512,269-square-foot office complex located within Las Colinas Urban Center in Irving. The 22-story property overlooks Lake Carolyn and was 77 percent leased at the time of sale to a tenant roster that includes multifamily developer JPI. Onsite amenities include a deli, fitness center and a conference facility. Gary Carr, Robert Hill, Chris Murphy, John Alvarado and Chase Tagen of Newmark represented the undisclosed seller in the transaction. The buyer, a partnership between Dominus Commercial Inc. and Convergent Capital Partners, plans toa invest about $20 million in capital improvements.
LEWISVILLE, TEXAS — A joint venture between Metro Philadelphia-based CenterSquare Investment Management and Dallas-based Preferred Real Estate Investments Inc. has acquired Lake Vista 7, a 240,000-square-foot office property located in the northern Dallas suburb of Lewisville. An undisclosed Fortune 500 company is vacating the building, and the new ownership will implement a value-add program with enhanced amenities such as a fitness center, meeting rooms, outdoor collaboration spaces and multiple dining options.
TROY, MICH. — Awecomm Technologies LLC has signed a 5,112-square-foot office lease at PNC Center in Troy. The IT company is currently located at 165 Kirts Blvd. in Troy. Built in 1974 and renovated in 2002, PNC Center rises 25 stories and spans 535,000 square feet. Steve Eisenshtadt and Robert Gagniuk of Friedman Real Estate represented the undisclosed landlord in the lease transaction.
PITTSBURGH — Regional lender TriState Capital Bank Inc. (NASDAQ: TSC) has signed a 22,000-square-foot lease to occupy the entire 16th floor at 11 Stanwix Street, an office building in downtown Pittsburgh. Jason Stewart and Jeff Adams of JLL represented the landlord, a partnership between M&J Wilkow and DRA Advisors, in the lease negotiations. Brendan McManus and Michael Connor of Hanna Langholz Wilson Ellis represented the tenant. The deal increases TriState’s total footprint in downtown Pittsburgh to roughly 68,000 square feet.
DALLAS — Bestow, a provider of digital platforms for the life insurance industry, has signed a 42,000-square-foot office lease at The Stack, a 16-story office building that recently opened in the Deep Ellum area of Dallas. The lease term is 11 years. A joint venture between Westdale Real Estate Investment & Management, Ivanhoe Cambridge and Hines owns The Stack, which consists of 210,000 square feet of office space and 15,000 square feet of retail space. Houston-based Hines plans to relocate its Dallas office to an 11,000-square-foot space within the building.
NEW YORK CITY — Private investment and management consulting firm Dorilton Capital has signed a 5,148-square-foot office lease expansion at 32 Avenue of the Americas, a 1.2 million-square-foot building located in the Tribeca area of Manhattan. The company now occupies 38,648 square feet at the property comprising the entire 26th floor and portions of the 17th and 27th floors. Robert Steinman represented the landlord, The Rudin Family, on an internal basis.
MILWAUKEE — Eight Eleven Group has signed a 7,500-square-foot office lease at HUB640 in Milwaukee’s Westown neighborhood. This will be the second office in Milwaukee for the Indianapolis-based staffing and consulting firm. Eight Eleven employees will temporarily occupy a spec suite within HUB640 while they await the buildout of their permanent location on the third floor. Eight Eleven plans to hire five additional employees this year and seven to 10 more next year. Purchased in 2017 by North Wells Capital, HUB640 was formerly home to the corporate offices of The Bon-Ton Stores Inc. and its longtime Boston Store. Fully renovated in the years following, the 120-year-old property now features a new lobby, amenity floor, rooftop deck and fitness center. The project gets its name from the address, 640 N. 4th St. John Davis and Ned Purtell of Founders 3 Real Estate Services represented North Wells Capital in the lease with Eight Eleven.