MILWAUKEE — Herzing University has unveiled plans to move its national headquarters to The Avenue in downtown Milwaukee. Herzing expects to move from its current suburban location to The Avenue by the first quarter of 2022 and will occupy nearly 22,000 square feet. The Avenue is a 333,000-square-foot mixed-use project by Hempel Real Estate and Interstate Development Co. Herzing is a private nonprofit institution with 10 campuses across seven states as well as an online division. The university offers degrees in professions such as nursing, technology, business and healthcare. Colliers International represented Herzing in its new lease and will also market Herzing’s Menomonee Falls property for sale. Founders 3 Real Estate Services represented ownership of The Avenue.
NEW YORK CITY — Chicago-based real estate consulting firm Project Management Advisors Inc. (PMA) has signed a lease for approximately 5,000 square feet in the Empire State Building. The new office — the company’s seventh across the country — will bring together PMA’s existing New York staff and the team from LPE Management Services, which PMA recently acquired. The office is scheduled to before the end of the month.
MEMPHIS — Calidus has acquired One Memphis Place, a 219,194-square-foot office building located at 200 Jefferson Ave. in downtown Memphis. The seller, GPT Properties Trust, sold the property for an undisclosed amount. Built in 1984, One Memphis Place is a 15-story office building featuring attached garage parking, 24/7 security, onsite property management and its own green space across from the building. The property is located close to major thoroughfares such as Interstates 240, 40 and 55. Calidus plans to invest in common area improvements in the future. Ron Kastner, Don Drinkard and Pratt Rogers of CBRE are the exclusive marketing agents for the property. Liz Edmundson of CBRE will be handling the property management assignment. Currently, the property offers approximately 30,000 square feet of space available for lease.
AUSTIN, TEXAS — Commercial developer and operator Unico Properties has sold Bouldin Creek, a 170,000-square-foot office building in South Austin to San Francisco-based DivcoWest for an undisclosed price. Unico Properties developed the five-story building in partnership with Manifold Real Estate and OakPoint Real Estate. Amenities include a 2,500-square-foot coffee shop, rooftop terraces, fitness center and two acres of green space.
DALLAS — Locally based investment firm August Real Estate Co. has acquired Lakewood Tower, a 120,000-square-foot office complex in East Dallas. The nine-story building was 97 percent leased at the time of sale to tenants such as Wells Fargo, Briggs Freeman and Baylor Scott & White. Evan Stone of Goodwin Advisors represented the seller, a partnership controlled by Caddo Holdings, in the transaction. Adam Mengacci with Hamilton Realty Finance arranged acquisition financing through Veritex Bank on behalf of August Real Estate.
WAUWATOSA, WIS. — Irgens has acquired 10701 Research Drive in Wauwatosa for an undisclosed price. The five-story, 130,000-square-foot office building is located at the intersection of Mayfair Road and Research Drive. Completed in 1995, the property was the inaugural development within the Milwaukee County Research Park. Irgens is planning to make substantial improvements to the facility, including new common area finishes and an amenity package. Blueprint’s medical office building team represented the seller, a REIT.
SAN JOSE, CALIF. — Redwood City-based Dollinger Properties has acquired Valley Creative Center, a six-building R&D and office campus located at the confluence of Zanker Road, Bering Drive and Charcot Avenue in San Jose. Vista Investment Group sold the asset for $56 million. Located at 2235-2249 Zanker Road, 2340-2390 Bering Drive and 225-245 Charcot Ave., the complex features 166,928 square feet of space with grade-level loading, ample parking and new exterior façade upgrades. Alan Guterman, Jon DeCoite, Steve Horton and Kelly Yoder of Cushman & Wakefield represented the buyer in the deal. Additionally, the team will service as leasing agents for the multi-tenant property.
WATERTOWN, MASS. — Two locally based firms, The Davis Cos. and Boston Development Group, have broken ground on a 224,000-square-foot life sciences project in the western Boston suburb of Watertown. Designed by Elkus Manfredi Architects, the project marks Phase I of a larger campus that will ultimately include 450,000 square feet of space across two buildings. The first building will offer six private tenant spaces and amenities such as a fitness center, bike storage room and retail/café space. Completion is slated for mid-2023.
CARY, N.C. — JLL Capital Markets has brokered the $24 million sale of 6501 Weston Parkway, a 93,582-square-foot office property in Cary. Chris Lingerfelt, Ryan Clutter and Ryan Eklund of JLL represented the seller, Albany Road Real Estate Partners. NAI Tri Properties represented the buyer, an entity doing business as 6501 Weston LLC. 6501 Weston Parkway is a three-story office building that was fully leased at the time of sale to a diverse tenant roster including Time Warner Cable, Zift Solutions and Aerotek. The property is located on an 8.5-acre site close to Interstates 40 and 540 and about five miles south of Raleigh-Durham International Airport. Built in 1996, the property was renovated in 2016 with renovations to the the lobby, corridors and restroom with showers on the first floor.
FRISCO, TEXAS — A partnership between Blue Star Land Co. and Dallas-based Lincoln Property Co. will develop a 313,000-square-foot office building at The Star, the Dallas Cowboys’ headquarters facility in Frisco. Designed by HKS Partners, the 11-story building will feature an 8,000-square-foot amenity deck and a 100-seat conference room. Construction is scheduled to begin before the end of the month and to be complete in the first quarter of 2023. Accounting firm Cain Watters & Associates has signed a lease as the building’s first tenant. Lincoln Property Co. is also handling leasing of the building.