Thursday, July 17, 2025
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149-Madison-Ave.-Manhattan
DevelopmentNew YorkNortheastOffice

Columbia Property Trust Underway on Renovation of 114,000 SF Manhattan Office Building

by Taylor Williams

NEW YORK CITY — Columbia Property Trust is underway on the renovation of 149 Madison Avenue, a 114,000-square-foot office building in Midtown Manhattan’s Nomad neighborhood. The 12-story building was originally constructed in 1916. The redevelopment includes enhanced retail storefronts, windows and lobby, as well as the addition of new amenities such as a multi-purpose lounge and a fitness and wellness center. Gensler is the architect of the project, which is slated for completion by the end of the year.

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DevelopmentLeasing ActivityMidwestMixed-UseOfficeOhioTop Stories

Deloitte Signs Anchor Lease at Foundry Mixed-Use Project in Downtown Cincinnati

by John Nelson

CINCINNATI — Deloitte, one of the Big Four global accounting firms, has signed a 30,000-square-foot anchor lease at Foundry, a mixed-use development underway in downtown Cincinnati. The developer and landlord is Cincinnati Center City Development Corp. (3CDC), a 501(c)(3) nonprofit developer that was created in 2003 by a City of Cincinnati task force. “We hope this is the first of many exciting announcements to come over the next few months, as we work to fill this essential building in our urban core with more world-class organizations like Deloitte,” says Katie Westbrook, development manager of 3CDC. Deloitte will occupy office space on the second floor of the $51 million project, which is a redevelopment of a former Macy’s-anchored building called Fountain Place. The building also housed Tiffany & Co., Palomino Restaurant and Booksellers on Fountain Square before they all closed their doors. Travis Likes and Scott Yards of CBRE represented 3CDC in the lease deal. Construction on Deloitte’s new space will begin immediately and is expected to be complete in late 2021 or early 2022. Foundry will ultimately feature 150,000 square feet of revitalized office space, 35,000 square feet of ground-level retail and restaurant space and 164 underground parking spaces that …

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One CNN Center
AcquisitionsGeorgiaOfficeSoutheastTop Stories

CP Group Acquires 1.2 MSF CNN Center Office Building in Atlanta

by Julia Sanders

ATLANTA — CP Group has acquired One CNN Center, a 1.2-million-square-foot office building in downtown Atlanta, for an undisclosed price. The acquisition was completed via a joint venture with funds managed by Miami-based Rialto Capital Management LLC. The transaction makes CP Group the second largest office owner in the state of Georgia, according to the company. The seller, WarnerMedia, will lease back the CNN Center for several years. WarnerMedia is the parent company of 24-hour news station CNN, which broadcasts from the building. Located at 190 Marietta St. NW, the CNN Center is located in the center of Atlanta’s central business district, near State Farm Arena, Mercedes-Benz Stadium, Centennial Olympic Park, Georgia World Congress Center, World of Coca-Cola, Georgia Aquarium, College Football Hall of Fame and the Center for Civil & Human Rights. “The CNN Center is one of Atlanta’s most iconic landmarks and we look forward to embracing the opportunity to strategically transform the asset and build off the city’s current momentum,” says Chris Eachus, partner at CP Group. The center is located adjacent to Centennial Yards, which is a $5 billion mixed-use project that will include multiple residential and office towers, restaurants and retail. “Many markets across the …

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Enclave-in-Frisco
DevelopmentOfficeTexas

CloudLoft Management to Develop 120,000 SF Office Complex in Frisco

by Taylor Williams

FRISCO, TEXAS — Locally based firm CloudLoft Management Inc. will develop The Enclave in Frisco, a 120,000-square-foot office complex that will be located at the northwest quadrant of the North Dallas and Sam Rayburn tollways. The complex will consists of nine low-rise buildings with multiple outdoor workspaces. In addition, the campus will feature basketball and pickleball courts, jogging and walking paths, grill areas and outdoor meeting spaces. Corgan is designing the project, and Dowdey, Anderson & Associates is the civil engineer. A construction timeline was not disclosed. Dallas-based Fults Commercial Real Estate has been tapped as the leasing agent.

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Houston-Design-Center
LoansNorthmarqOfficeTexas

NorthMarq Arranges Loan for Refinancing of 281,356 SF Office Building in West Houston

by Taylor Williams

HOUSTON — NorthMarq has arranged a loan of an undisclosed amount for the refinancing of Houston Design Center, a 281,356-square-foot office and showroom on the city’s west side. John Burke of NorthMarq arranged the nonrecourse, fixed-rate loan through an undisclosed regional bank on behalf of the borrower, locally based investment firm MLB Capital Partners.

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Somerset-Corporate-Center-V-Bridgewater-New-Jersey
Leasing ActivityNew JerseyNortheastOffice

Qualcomm Signs 95,579 SF Office Lease Extension in Bridgewater, New Jersey

by Taylor Williams

BRIDGEWATER, N.J. —Qualcomm has signed a 95,579-square-foot office lease extension at Somerset Corporate Center V in Bridgewater, located in the central part of the Garden State. The San Diego-based tech giant has been a tenant at the five-building, 1.2 million-square-foot campus since 2007. New York City-based SJP Properties owns Somerset Corporate Center. The campus includes a 170,000-square-foot athletic facility, a 31,000-square-foot coworking space, a 150-room AC Hotel by Marriott and multiple food and beverage options. Somerset Corporate Center is also located near both Newark International Airport and New York City and offers access to public transportation, including shuttle service to the Somerville train station just two miles from the property.

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IndustrialLeasing ActivityMassachusettsNortheastOffice

Avison Young Negotiates 40,650 SF Industrial Flex Lease in Metro Boston

by Taylor Williams

MARLBOROUGH, MASS. — Avison Young has negotiated a 40,650-square-foot lease at an industrial flex property located at 753 Forest St. in Marlborough, a western suburb of Boston. Built in 1986, the 75,000-square-foot property can accommodate office, storage, distribution and technical training uses. Bill Sullivan and Jon Pezzoni of Avison Young represented the tenant, Richardson Electronics, and the landlord, True Associates of Westwood, in the lease negotiations.

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IllinoisLeasing ActivityMidwestOffice

U.S. Xpress Enterprises Signs 40,000 SF Office Lease in Chicago’s River North

by Kristin Harlow

CHICAGO — U.S. Xpress Enterprises Inc. (NYSE: USX) has signed a long-term lease for approximately 40,000 square feet of office space encompassing three floors at 306 West Erie in Chicago’s River North. The building, owned by North Wells Capital and Urban Innovations, has now reached full occupancy. Xpress, a truckload carrier that is expanding and relocating its offices from within the same area, is slated to begin occupying the new space in the first quarter of 2022. Xpress Technologies, the company’s digitally enabled freight brokerage division, will occupy the bulk of the new space. The division has more than doubled the size of its workforce nationwide since mid-2020. Part of a three-building collection known as Verso, 306 West Erie recently underwent a renovation and expansion following North Wells’ acquisition of the property in 2017. New amenities include a sixth-floor tenant lounge and gaming area as well as an outdoor terrace. JLL is the leasing agent for the entire Verso portfolio. Melissa Rubenstein, Annie Nicolau and Anna Panici of JLL represented ownership in the lease transaction with Xpress. Dan Persa of CBRE represented the tenant.

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AcquisitionsFloridaOfficeSoutheastTop Stories

CP Group Acquires One Biscayne Tower in Downtown Miami for $225M

by Jeff Shaw

MIAMI — CP Group, formerly Crocker Partners, has acquired One Biscayne Tower, a 38-story office tower in downtown Miami, in a joint venture with funds managed by Rialto Capital Management and Sabal Capital Partners. Dow Chemical sold the asset for $225 million, according to the Daily Miami News. L&B Realty has managed One Biscayne Tower on behalf of Dow for the last 20 years. Located along the waterfront, the property overlooks Bayfront Park, Biscayne Bay, Miami Beach and the Atlantic Ocean. Trammell Crow Co. developed the property in 1973, with Gutierrez-Latimer and Praga Associates as designers, according to the Council on Tall Buildings and Urban Habitat. One Biscayne Tower features nine floors of parking below 24 floors of office space. Amenities include a newly renovated lobby, fitness center, Pilates studio, two banks, a deli and a variety of services such as a florist, car wash, hair salon, print shop and Amazon locker delivery. The acquisition brings CP Group’s total downtown Miami holdings to over 2 million square feet, including SunTrust International Center and Citigroup Center, formerly known as Miami Center. The company claims it is now the largest office landlord in downtown Miami, largest commercial landlord in Florida, third-largest landlord …

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One Clearlake
AcquisitionsFloridaOfficeSoutheast

Joint Venture Acquires One Clearlake Office Building in Downtown West Palm Beach for $60.7M

by Julia Sanders

WEST PALM BEACH, FLA. — Tricera Capital, New England Development, NDT Development and Rockpoint Group have acquired One Clearlake, an office building in downtown West Palm Beach. JLL arranged the $60.7 million sale. Velocis, a private equity real estate manager, was the seller. Located on three acres at 250 S. Australian Ave., One Clearlake is 2.3 miles from Palm Beach and 3.4 miles from Palm Beach International Airport. The 18-story property has more than 220,000 square feet of rentable space, with an average floor plate of nearly 13,000 square feet. One Clearlake’s attached 669-space garage provides a parking ratio of three spaces per 1,000 square feet. The building’s amenities include 24-hour security, a new tenant lounge, fitness center and an onsite café. Built in 1986, the office tower recently underwent renovations to the lobby and other building elements. The building is LEED Gold- and Energy Star-certified. The property was 62 percent leased when it was put under contract. Prior to closing, Tricera and its partners successfully executed two new leases at the building. In addition, the new ownership is heading to lease with another large user, which the joint venture expects to finalize soon. The building’s tenant roster includes Intech …

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