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1333 New Hampshire Avenue
District of ColumbiaLeasing ActivityOfficeSoutheast

Meridian Group Signs Two Office Tenants to Anchor 1333 New Hampshire Avenue in D.C.

by Julia Sanders

WASHINGTON, D.C. — The Meridian Group has signed two new anchor tenants at 1333 New Hampshire Avenue in the center of Dupont Circle in Washington, D.C. The two office tenants, American Bankers Association (ABA) and the Patient-Centered Outcomes Research Institute (PCORI), together will lease more than half of the 350,000-square-foot building, which is in the final stages of a renovation. ABA, which is moving its headquarters to 1333 New Hampshire from its previous location at 1120 Connecticut Ave., will occupy three floors. ABA will lease a total of 87,183 square feet and plans to move in November 2022. PCORI selected 1333 New Hampshire to be its new headquarters as well. Consolidating multiple D.C. office locations into one building, PCORI will lease 96,092 square feet on three-and-a-half floors, including a conference facility. The firm will occupy its space beginning in spring 2022. The building is now 73 percent leased. Available space includes two remaining upper full floors, as well as newly renovated, move-in-ready suites on the fourth floor. Meridian’s renovations of 1333 New Hampshire includes the addition of a rooftop conferencing facility and entertainment space, outdoor terrace, redesigned lobby and fitness center. The renovations also include retail storefronts and secured bicycle …

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PSRS-San-Diego-Chula-Vista-CA
AcquisitionsCaliforniaIndustrialLoansOfficeWestern

PSRS Arranges $31.6M in Acquisition Financing for Five Flex Buildings Near San Diego

by Amy Works

SAN DIEGO AND CHULA VISTA, CALIF. — PSRS has arranged $31.6 million in acquisition financing for five multi-tenant buildings in Chula Vista and San Diego’s Mission Valley neighborhood. The portfolio includes four flex industrial/office buildings along Bay Boulevard in Chula Vista and a multi-tenant office building at 5920 Friars Road in San Diego. Tenants include Cox Communications, National University, Fresenius Medical, Bayfront Charter School and West Marine. Financed with a CMBS execution, Jim Mulvihill of PSRS secured a 10-year loan with full-term interest-only payments for the undisclosed borrower.

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Leasing ActivityNortheastOfficePennsylvania

Mindspace Opens 42,000 SF Flexible Workspace in Philadelphia

by Taylor Williams

PHILADELPHIA — Mindspace, a provider of flexible workspace solutions, has opened a 42,000-square-foot space at the Wanamaker Building, a historic property in Philadelphia that was built in 1911 as one of America’s first department stores. Rubenstein Partners LP owns the building in partnership with Amerimar Enterprises. With this location, Mindspace now operates 31 spaces across 16 cities and seven countries.

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The-Oddie-District
AcquisitionsDevelopmentIndustrialMixed-UseNevadaOfficeRestaurantRetailWestern

Foothill Partners, Belay Investment Buy 209,000 SF Redevelopment Project in Sparks, Nevada

by Amy Works

SPARKS, NEV. — A joint venture between Foothill Partners and Belay Investment Group has purchased a vacant, 209,000-square-foot former Lowe’s Home Improvement Warehouse property in Sparks for an undisclosed price. The partnership plans to redevelop the site into an environmental, social and corporate governance, arts-based technology, flex and research and development campus named The Oddie District. Located at 2450 Oddie Blvd., the vacant property will be repurposed into creative office, flex-tech R&D, lab and maker spaces, as well as food and beverage tenant space and work-live studios for artists and entrepreneurs. Construction is slated to start later this year, with a planned opening date of the project’s first phase in August 2022. The partnership has already signed two tenants: The Generator and The Innovation Collective. The Generator, a nonprofit maker space that serves as a creative resource for Northern Nevada community members, will occupy 35,000 square feet of the project. The Innovative Collection, a Coeur d’Alene, Idaho-based business accelerator and collaborative co-working space for technology companies, will occupy 12,500 square feet at The Oddie District. Another 100,000 square feet of flex-tech space will be available to technology, research, engineering, software and design companies complemented by 16,000 square feet of restaurant …

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KansasLeasing ActivityMidwestOffice

TTEC Holdings Joins Tenant Lineup at Aspiria Office Campus in Overland Park

by Kristin Harlow

OVERLAND PARK, KAN. — Global technology company TTEC Holdings is the newest tenant at the Aspiria corporate campus in Overland Park. With over 50,000 employees across the globe, TTEC is looking to bring more than 400 jobs to metro Kansas City. The company will occupy nearly 20,000 square feet at Aspiria, the former Sprint world headquarters campus that is now owned by Occidental Management. TTEC worked with the Kansas City Area Development Council, Overland Park Chamber of Commerce, Kansas Department of Commerce and CBRE prior to securing its lease.

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Pinnacle Corporate Park
AcquisitionsFloridaOfficeSoutheast

Avison Young Brokers $58.9M Sale of Pinnacle Corporate Park in Fort Lauderdale

by Julia Sanders

FORT LAUDERDALE, FLA. — Avison Young has brokered the $58.9 million sale of Pinnacle Corporate Park, a two-building, Class A office portfolio located at 500 and 550 W. Cypress Creek Road in Fort Lauderdale. The portfolio totals 259,458 square feet on 14.3 acres in Broward County’s Cypress Creek submarket. Avison Young arranged the sale on behalf of the seller, a joint venture between a fund managed by DRA Advisors LLC and Banyan Street Capital. The buyer, an affiliate of St. Petersburg, Fla.-based Feldman Equities doing business as Pinnacle Corporate Park LLC, purchased the property with capital raised through online crowdfunding platform called Crowdstreet.com. Pinnacle Corporate Park is Feldman’s first investment property in South Florida. The buyer plans to invest over $3 million in renovations. Pinnacle Corporate Park’s tenants include Vertiv, Jacobs Engineering, Trustbridge, I Pipeline and AmTrust. The property is in the center of Fort Lauderdale’s Uptown Urban Village, a master plan that supports the development of a mixed-use neighborhood. The offices are less than one mile from Interstate 95 and close to the Cypress Creek Tri-Rail station. John Crotty, David Duckworth, Michael Fay, Greg Martin, George Vail, Brian de la Fé and Berkley Bloodworth of Avison Young led the …

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Leasing ActivityOfficeTexas

Granite Properties Signs Three Tenants to Office Leases Totaling 34,000 SF in Plano

by Taylor Williams

PLANO, TEXAS — Development and investment firm Granite Properties has signed three tenants to office leases totaling 34,000 square feet at Granite Park, its office 90-acre development situated at the corner of the Dallas North Tollway and State Highway 121 in Plano. The tenants included The Point Group, a full-service marketing agency that was represented in the lease negotiations by Nick Lee and Jeremy Brubaker of NAI Robert Lynn; Digital.ai, a software application firm that was represented by Wills Bauer and Randy Cooper of Stream Realty Partners; and HNTB, an infrastructure solutions firm that was represented by Charles Daggett, Kris Knapstein and Dina Zavislak of Savills. Robert Jimenez and Aarica Mims represented Granite Properties on an internal basis.

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The Ella
DevelopmentMarylandOfficeSoutheast

RPAI Plans to Develop 125,000 SF Medical Office Building in Largo, Maryland

by Julia Sanders

LARGO, MD. — Retail Properties of America Inc. (RPAI) plans to begin developing the first building within Carillon, a planned mixed-use development in Largo. Construction on the first building known as The Ella, a 125,000-square-foot medical office building, will begin in the second half of 2021. The Ella will be situated 300 feet from the University of Maryland Capital Region Medical Center. The property will also be located close to the Largo Town Center Metro Blue and Silver lines, onsite surface parking and access to the Capital Beltway. RPAI is in active negotiations with prospective tenants.

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KansasLeasing ActivityMidwestOffice

First Federal Bank of Kansas City Relocates Headquarters to Park Place in Leawood

by Kristin Harlow

LEAWOOD, KAN. — First Federal Bank of Kansas City has relocated its headquarters to Park Place in Leawood. The bank, which is relocating from 6900 Executive Drive in Kansas City, will occupy 24,146 square feet. Jim Gates and Adam Tilton of JLL represented the tenant in the lease transaction. Most of the staff will have the option to work from home, but the new headquarters will feature a number of amenities for employees who choose to work in the new space, according to JLL. Helix Architecture designed Park Place’s interior space. KBS owns the office property.

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Verde-Cooley-Station-Gilbert-AZ
ArizonaDevelopmentLoansMixed-UseOfficeRestaurantRetailWestern

Parkview Provides $28M Construction Loan for Verde at Cooley Lifestyle Center in Gilbert, Arizona

by Amy Works

GILBERT, ARIZ. — Parkview Financial has provided a $28 million construction loan to Scottsdale-based Verde Gilbert LLC for the development of Verde at Cooley Station, a lifestyle center located at 17201-17361 E. Williams Field Road in Gilbert. Verde Gilbert LLC is a joint venture between three development companies led by SB2 Communities. Upon completion, the 10-building, 96,000-square-foot property will offer 44,000 square feet of retail space, 13,000 square feet of office space, 31,000 square feet of restaurant space and 8,000 square feet of fitness space. Designed to be a restaurant-centric, mixed-used project, Verde at Cooley Station will offer 25 spaces for lease and The Green, a large open outdoor lawn area with a gazebo for musical events, fitness classes, movies in the park and other activities. Loan proceeds enabled the commencement of the first phase, which includes retail and a dozen dining concepts surrounded by The Green. Some of the stores are slated to open for business in late 2021, with a planned grand opening in first-quarter 2022. The second phase will include 24,000 square feet of retail space, 12,000 square feet of office space, 3,000 square feet of restaurant space and 8,000 square feet of fitness space. The second …

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