Office

Fullerton Properties Divests of 106,892 SF Chandler Business Center in Arizona

by Amy Works September 28, 2021

CHANDLER, ARIZ. — Fullerton Properties has completed the sale of Chandler Business Center, multi-tenant industrial/flex property in Chandler. Portland, Ore.-based ScanlanKemperBard acquired the asset for $19.1 million, or $178.68 per square foot. Situated on 10.6 acres at 6150 W. Chandler Blvd., the 106,892-square-foot property was fully leased at the time of sale. Commercial Properties/CORFAC International’s Leroy Breinholt, Cori Sposi and David Bean represented the seller and buyer in the transaction.

September 28, 2021

Leasing Activity Office Texas

MD7 Signs 25,000 SF Office Lease at One Bethany West in Allen, Texas

by Taylor Williams September 28, 2021

ALLEN, TEXAS — MD7, a provider of mobile infrastructure consulting services, has signed a 25,000-square-foot office lease in the northeastern Dallas suburb of Allen. The firm is relocating its headquarters from San Diego to One Bethany West, which is located on the 17-acre Watters Creek campus. The move is expected to bring about 200 new jobs and $6.8 million in capital investment to the regional economy.

September 28, 2021

Arizona Life Sciences Market Reports Office Western Western Market Reports

Phoenix’s Life Sciences Market is on a Record Rise

by Jeff Shaw September 28, 2021

By Alexandra Loye, Senior Vice President, Healthcare & Life Sciences Services, Colliers Despite global and domestic market challenges from the pandemic, Phoenix continues to shine amongst its competitive Western cities. With Maricopa County being the fastest-growing county in the U.S., Phoenix offers employers a diverse, educated workforce, business-friendly environment and affordable housing options. Arizona’s economy is booming and experiencing record revenue growth, as well as personal income growth. From 2019 to 2020, Arizona led the nation (tied with Montana) in the category of highest personal income growth with a 7.1 percent increase. The state is also projected to add 325,000 jobs in the next 12 months. Phoenix’s life sciences industry has gained significant momentum during the past 12 months, with no slowdown in sight. The Phoenix Biomedical Campus (PBC) in downtown Phoenix is ground zero for life sciences development and tenant activity. The 30-acre campus is currently occupied by Arizona State University, the University of Arizona, Northern Arizona University, Translational Genomics Research Institute (TGen), OncoMyx Therapeutics, Calviri, Vidium Animal Health, and Exact Sciences, which recently acquired Paradigm Diagnostics and Ashion Analytics. The PBC is the ideal environment when it comes to collaboration and innovation for life sciences tenants. The 227,000-square-foot, …

September 28, 2021

Acquisitions Office Washington Western

Principal Real Estate Investors Sells 148,652 SF Lincoln Plaza Office Campus in Bellevue, Washington

by Amy Works September 27, 2021

BELLEVUE, WASH. — Des Moines, Iowa-based Principal Real Estate Investors has completed the disposition of Lincoln Plaza, an office campus located at 11225, 11235 and 11245 SE Sixth St. in Bellevue. New Rock Acquisition purchased the 148,652-square-foot asset for an undisclosed price. Situated on 9.1 acres, the three-building property was 90 percent occupied by 20 tenants at the time of sale. Tom Pehl, Todd Tydlaska, Charles Safley, Lou Senini, Paige Morgan and Chais Lowell of CBRE Capital Markets represented the seller in the deal. Brad Zampa and Mike Walker of CBRE arranged acquisition financing for the buyer. Scott Davis and Tim Owens, also of CBRE, will continue to handle leasing under the new ownership.

September 27, 2021

Acquisitions Office Texas

Colliers Brokers Sale of 161,182 SF Northpointe Centre Office Building in Dallas

by Taylor Williams September 27, 2021

DALLAS — Colliers International has brokered the sale of Northpointe Centre, a 161,182-square-foot office building in Dallas. The eight-story building is located on the city’s north side and offers amenities such as a fitness center, conference facility and a deli. Cody Payne, Wayne Bares, Austin Edelmon and Michael Tran of Colliers represented the seller and procured the buyer, both of which were private investors that requested anonymity, in the transaction. Northpointe Centre was 75 percent leased at the time of sale.

September 27, 2021

Loans New York Northeast Office

Cottonwood Group Provides $105M Loan for Refinancing of Manhattan Office Building

by Taylor Williams September 27, 2021

NEW YORK CITY — Cottonwood Group, a Los Angeles-based private equity real estate firm, has provided a $105 million bridge loan for the refinancing of The Six, a newly constructed office building located at 106 W. 56th St. in Manhattan. The 79,214-square-foot building offers a tenant lounge, conference facility and views of Central Park. The borrower was locally based developer Savanna. The transaction is the seventh investment to date through the Cottonwood Real Estate Founders Fund that launched in May. Leo Leyva, Chris Caslin, Robyn Pellegrino, Jennifer Chung and Samantha Epstein of Cole Schotz P.C. represented Savanna in the deal.

September 27, 2021

Acquisitions Florida Office Southeast

TerraCap Management Sells 82,000 SF Office Building in Tampa

by Jeff Shaw September 27, 2021

TAMPA, FLA. — TerraCap Management LLC has sold Eastpointe, a three-story, Class B office building in Tampa that totals approximately 82,000 square feet. Rick Brugge, Mike Davis, Rick Colon, Ryan Jenkins and Zach Eicholtz of Cushman & Wakefield represented the seller, TerraCap, in the transaction. TriOut Advisory acquired the property for an undisclosed price. Built in 1987, the property has a two-story parking garage. TerraCap acquired Eastpointe in March 2014 as part of a two-property acquisition. TerraCap invested capital into the roof, HVAC, parking lot, parking garage, restrooms and signage. After signing Circle K to a 10-year deal for approximately 19,000 square feet and extending the approximately 36,000-square-foot anchor tenant Pharmerica through 2025, Eastpointe reached 96 percent occupancy, and TerraCap began moving the property towards a disposition.

September 27, 2021

Acquisitions Illinois Midwest Office

The Equitable Funds Acquires Two-Building Office Property in Schaumburg, Illinois

by Kristin Harlow September 24, 2021

SCHAUMBURG, ILL. — The Equitable Funds LLC has acquired 1340-1350 Remington Road in Schaumburg for an undisclosed price. The company plans to combine the two-building, one-story office property with an additional asset, 1305-1375 Remington Road, and create a campus known as One Story Schaumburg. The newest buildings total roughly 48,000 square feet and were 30 percent leased at the time of acquisition. When combined with the earlier acquisition, One Story Schaumburg will total more than 130,000 square feet. All of the buildings were constructed in the same style by one developer. The Equitable Funds plans to execute a renovation and repositioning program for all the buildings. A spec suite program will be implemented to offer move-in ready spaces ranging from 1,500 to 3,000 square feet. Plans also call for an amenity center and more outdoor seating. NAI Hiffman is the leasing agent. One Story LLC, a property management firm recently formed by Jonathan Berger and Joshua Silverglade, will manage the asset.

September 24, 2021

Leasing Activity North Carolina Office Retail Southeast

East West Partners Signs Three Leases for New Tenants to Join Crabtree Terrace in Raleigh

by Julia Sanders September 23, 2021

RALEIGH, N.C. — East West Partners has signed leases with two retail tenants and one office tenant at Crabtree Terrace, a 173,468-square-foot mixed-use development in Raleigh’s Crabtree Valley district. Hillman Duncan and John MacDonnell of JLL handle office leasing on behalf of the owner. CBRE is leading the retail leasing efforts. Located at 4509 Creedmoor Road, Crabtree Terrace includes 145,000 square feet of Class A office space and over 28,000 square feet of retail space. Opened in 2020, the building’s amenities include a fitness facility and locker rooms, as well as is located close to the Crabtree Creek Trail. Crabtree Terrace is just 10 miles from the Raleigh-Durham International Airport. JLL signed an undisclosed tenant to 13,000 square feet of office space at the property. The building already has office tenants, including Spaces, a coworking company, and Longleaf Law Partners, a boutique commercial real estate law firm. CBRE has added two retailers to the building’s ground floor, both of which will open by the end of 2021. The two new tenants are financial services company Fidelity Investments, which has signed a 7,400-square-foot lease, and Fiction Coffee, a Texas-based café that has signed a 1,400-square-foot lease. The property has additional onsite …

September 23, 2021

Development Office Texas

KDC to Develop Three New Office Buildings at CityLine in Metro Dallas Totaling 1.4 MSF

by Taylor Williams September 23, 2021

RICHARDSON, TEXAS — Developer KDC will build three new office buildings totaling approximately 1.4 million square feet at CityLine, a 204-acre mixed-use development located in the northeastern Dallas suburb of Richardson. Five CityLine will be an 18-story tower with 513,000 square feet, while Six CityLine will rise 13 stories and span 356,000 square feet. The third tower, Seven CityLine, will be a 15-story, 507,000-square-foot building. Dallas-based Corgan & Associates is designing the buildings, which will bring the total office component at CityLine to approximately 2.6 million square feet. The development also houses 200,000 square feet of retail and restaurant space. In addition, more than 3,000 urban residential units, 148 hotel rooms and 20 acres of dedicated public green space are located within walking distance of CityLine. The new buildings are currently being marketed for lease, and construction will begin when a tenant(s) has been secured.

September 23, 2021

Newer Posts

Older Posts