Office

Shadowbox Studios Underway on 1.2 MSF Expansion of Movie Studio Campus in Atlanta

by John Nelson June 15, 2022

ATLANTA — Shadowbox Studios, a TV and movie studio operator formerly known as Blackhall Studios, is underway on expanding its studio campus in Atlanta from nine soundstages to 31. The 1.2 million-square-foot expansion project will grow the locally based company’s footprint to total 2 million square feet. The move follows a $500 million financing commitment from Silver Lake, a private equity investor with more than $88 billion in assets under management. Silver Lake will partner with existing investor Commonwealth Asset Management, which remains the majority shareholder of Shadowbox Studios. The capital injection will also be used to fund Shadowbox’s studio developments underway in London and Los Angeles. Deutsche Bank, EY and Sidley Austin represented Shadowbox in the financing transaction with Silver Lake. Farrer & Co. and King & Spalding also provided legal counsel. Latham & Watkins represented Silver Lake. The existing Atlanta studios for Shadowbox Studios served as filming locations for movies such as Jumanji: The Next Level, Jungle Cruise and Godzilla: King of the Monsters. The construction timeline for the expansion project was not disclosed.

June 15, 2022

Development Healthcare Maryland Office Southeast

Catalyst Healthcare, Bain Capital Break Ground on 60,000 SF Medical Office Building in Laurel, Maryland

by John Nelson June 14, 2022

LAUREL, MD. — Catalyst Healthcare Real Estate and Bain Capital Real Estate have broken ground on a 60,000-square-foot medical office building in Laurel, a city about midway between Baltimore and Washington, D.C. The property will be connected to the University of Maryland Capital Region Health Hospital by an enclosed skyway and offer outpatient services, including family medicine, imaging, internal medicine, oncology, orthopedics, pharmacy, physical therapy, OB/GYN and dialysis. The building, which will feature about 3,000 square feet of commercial space, is the first phase of the master plan that will include the development of 11 healthcare buildings, as well as retail, restaurants and green space. Catalyst Healthcare and Bain Capital plan to open the property in summer 2023.

June 14, 2022

Acquisitions Office Texas

Colliers Brokers Sale of 160,000 SF Office Complex in North Dallas

by Taylor Williams June 14, 2022

DALLAS — Colliers has brokered the sale of a 160,000-square-foot office complex located at 12160 & 12170 Abrams Road in North Dallas. The two-building complex is situated within the East LBJ Freeway submarket. Cody Payne, Michael Tran and Austin Edelmon of Colliers represented the seller, a private investor, in the transaction. Payne also secured a private investor as the buyer. Both parties requested anonymity.

June 14, 2022

Development New York Northeast Office

Durst Organization to Undertake $150M Redevelopment of Manhattan Office Tower

by Taylor Williams June 14, 2022

NEW YORK CITY — Locally based landlord The Durst Organization will undertake a $150 million redevelopment of 825 Third Avenue, a 40-story office tower in Manhattan that was originally constructed in 1969. The redevelopment will include upgrades of the 544,000-square-foot building’s elevators, windows, lobby and mechanical systems, as well as the addition of new amenities. Upon completion, tenants will have access to a 3,000-square-foot ground-floor lounge with coffee, wine and arcade games. The Durst Organization will also add 15,000 square feet of health and wellness amenities on the second floor and a new terrace on the 12th floor. JP Morgan Chase and Wells Fargo have provided $100 million in financing for the project.

June 14, 2022

Leasing Activity Northeast Office Pennsylvania

Philadelphia Inquirer Signs 36,744 SF Office Lease at 100 Independence Mall West

by Taylor Williams June 14, 2022

PHILADELPHIA — The Philadelphia Inquirer has signed a 36,744-square-foot office lease at 100 Independence Mall West. The building was originally constructed in 1963 and was acquired by Keystone Development + Investment in 2013. Following the lease with the 193-year-old newspaper, which expects to take occupancy in the first quarter of 2023, the building is 97 percent leased. Other tenants include The Macquarie Group, U.S. General Services Association and Nelson Worldwide.

June 14, 2022

Leasing Activity Office Texas

Liquid Environmental Solutions Signs 39,528 SF Office Lease Extension in Irving

by Taylor Williams June 13, 2022

IRVING, TEXAS — Liquid Environmental Solutions has signed a 39,528-square-foot office lease extension at Esters 114 Business Center in Irving. The lease ensures that the waste management company will continue to operate its corporate headquarters at the building, which is 91 percent leased. corporate headquarters. Clint Madison and John Fancher of Cushman & Wakefield represented the landlord, Stanton Road Capital in the lease negotiations. Ryan Buchanan and Josh White with CBRE represented the tenant.

June 13, 2022

Acquisitions Maryland Office Southeast

GIP Sells Government-Anchored Office Building in Hyattsville, Maryland for $45M

by John Nelson June 13, 2022

HYATTSVILLE, MD. — Government Investment Partners (GIP) has sold a 189,000-square-foot office building located at 3311 Toledo Road in Hyattsville for $45 million. The Deer Park, Ill.-based company purchased the 10-story office building in 2019 for $16 million as part of a joint venture. Located about seven miles of northeast of Washington, D.C., the property is anchored by the Centers for Disease and Control’s (CDC) National Center for Health Statistics and the Department of Justice. Shaun Weinberg, Eric Berkman, Scott Johnston and Robert England of Cushman & Wakefield represented GIP in the transaction. The buyer was not disclosed.

June 13, 2022

Acquisitions North Carolina Office Southeast

CBRE|Raleigh Brokers Sale of 156,666 SF Situs Office Park in West Raleigh

by John Nelson June 13, 2022

RALEIGH, N.C. — CBRE|Raleigh has brokered the sale of Situs Office Park, a three-building office campus spanning 156,666 square feet on Raleigh’s west side. Atlanta-based The Simpson Organization purchased the park from Adler Real Estate Partners for an undisclosed price. Patrick Gildea of CBRE|Raleigh represented the seller in the transaction. The park was 91 percent leased at the time of sale to regional and national tenants including Circle K Stores, the General Services Administration (GSA), Millennia Patient Services, Silanna Semiconductor and MidPath Care Centers. CBRE|Raleigh is the leasing agent for Situs, which is situated on 14.8 acres off Situs Court near I-440 and I-40.

June 13, 2022

Leasing Activity Midwest Office Ohio

Quest Defense Signs 25,702 SF Office Lease for New Headquarters in Blue Ash, Ohio

by Kristin Harlow June 13, 2022

BLUE ASH, OHIO — Aerospace and defense company Quest Defense has signed a 25,702-square-foot office lease for its new headquarters at Pfeiffer Place at Parkview in Blue Ash near Cincinnati. The company is relocating from its Class B space at SharonView Corporate Center. Pfeiffer Place offers a conference center, café and onsite security. Todd Pease of JLL represented the landlord, Ohio National Financial Services.

June 13, 2022

Loans Office South Carolina Southeast

Patterson Secures Refinancing for 88,000 SF Charleston Tech Center Office Property

by John Nelson June 10, 2022

CHARLESTON, S.C. — Patterson Real Estate Advisory Group has arranged the refinancing of Charleston Tech Center, an 88,000-square-foot office building in Charleston. MetLife Investment Management, the institutional asset management arm of MetLife Inc., provided the undisclosed amount of financing. The borrowers, Iron Bridge Capital and Hunt Cos., delivered the six-story building in 2021. The property was 84 percent leased at the time of financing to tenants including Charleston Digital Corridor, a city-backed technology incubator that occupies the full second floor (17,000 square feet); Conrex, a single-family rental platform owned by Brookfield (15,000 square feet); and Insight Global, a tech staffing firm (7,000 square feet). Charleston Tech Center is located in Charleston’s Upper Peninsula adjacent to the city’s historic district and near I-26 and US Highway 17. In addition to modern offices, Charleston Tech Center includes ground-level retail space, rooftop amenity space, conference spaces, bike racks and showers.

June 10, 2022

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