SAN ANTONIO — Colorado-based coworking concept Office Evolution has opened a 7,064-square-foot space at Plaza Las Campanas, a shopping center located at 1846 N Loop 1604 W. in San Antonio. The space includes both common workspaces and private offices. The space is Office Evolution’s first in San Antonio. Following the opening of its San Antonio space, Office Evolution announced that it would open its first coworking concept in Austin in mid-May. That space will be located at 8911 N. Capital Texas Highway and will span 7,845 square feet.
CHARLESTON, S.C. — Frampton Construction Co. LLC, a full-service construction firm, has completed work on The Quin, a five-story office building located at 1940 Algonquin Road in Charleston. White Point is the developer for the project, and JLL is handling the leasing of the building. The Quin is a 110,000-square-foot, Class A property that sits on a four-acre site and features a four-story, 125,748-square-foot parking deck with approximately 300 spaces. Located at Meeting Street and Algonquin Road, The Quin is the first phase of a larger, 10-acre mixed-use development. One of the first tenants for the property is Interior Elements. Designed by McMillan Pazdan Smith Architecture, the building is constructed of structural steel with exterior finishes of glass, brick, stucco, metal panels and canopies. The parking deck was constructed of pre-cast concrete and features mesh paneling on the two visible sides. The building’s ground floor includes retail space, shower facilities and offices. The top four floors each comprise 22,000 square feet of office space. Additionally, a bike repair center sits at the base of the parking deck, and a public courtyard amenity area featuring a ping pong table, putting green and outdoor seating sits between the office building and parking …
HOUSTON — Colliers International has brokered the sale of a 112,867-square-foot office building located at 1220 Augusta Drive in the San Felipe/Voss submarket of West Houston. Christopher Winters and Jay Kyle of Colliers represented the undisclosed seller in the transaction. The buyer is a locally based investment firm doing business as 1220 Augusta LLC.
PORTLAND, MAINE — Stan Johnson Co. has brokered the $11.8 million sale of an 80,683-square-foot office building in Portland. The three-story property was originally built on 18.3 acres in 1974 and was leased to a single tenant, Consolidated Communications, at the time of sale. Chris Adams and Jim Gibson of Stan Johnson Co. represented the seller, Vermont-based developer Pizzagalli Properties, in the transaction. Josh Soley of Maine Realty Advisors represented the buyer, an undisclosed investor based in California.
ABS National Business Parks Purchases Gardens Plaza Mixed-Use Property in West Palm Beach for $30.6M
WEST PALM BEACH, FLA. — ABS National Business Parks has purchased Gardens Plaza, a mixed-use campus in West Palm Beach that comprises of a nine-story office tower, two-story medical office building and a development pad. The locally based developer, Stiles, sold the property for $30.5 million. Gardens Plaza is located on the south side of PGA Boulevard, adjacent to Gardens Mall and less than one mile east of Interstate 95. The property was 85 percent leased at the time of sale to a variety of corporate tenants. The tower spans 86,542 rentable square feet, and the medical office building spans 5,627 square feet and has been occupied by Jupiter Medical since 2016. Christian Lee, José Lobón, Kevin Probel and Kevin McCarthy of CBRE represented the seller in the transaction. Brian Warwick with ABS Altman Warwick LLC worked alongside Amy Julian with CBRE’s Debt & Structured Finance division to secure a 10-year, fixed-rate acquisition loan through JPMorgan. ABS National Business Parks is a New York-based, privately held owner and operator. The company plans to modernize Gardens Plaza, including upgrading to a high-level HEPA air filtration system and updating the building’s four elevators.
ST. PETERSBURG, FLA. — Limestone Asset Management, via a joint venture with its parent company Orion Real Estate Group, has sold a 23,031-square-foot retail and office center in the Tampa Bay area for $5.3 million. Located at 1914 4th St. N in St. Petersburg, the property was 100 percent leased at the time of sale to six tenants, including Outback Steakhouse and Panera Bread. Ben Mallah of Equity Management Partners Inc. purchased the property in a 1031 exchange. Mark Shellabarger and Ari Ravi of CBRE represented Limestone and Orion, both real estate investment firms based in Miami, in the transaction. Limestone Asset Management originally purchased the property in June 2016 for $2.9 million.
DOWNERS GROVE, ILL. — Professional Wealth Advisors (PWA) has signed a 23,000-square-foot office lease renewal and expansion at 2655 Warrenville Road in Downers Grove. The lease comprises a 12,000-square-foot renewal and an 11,000-square-foot expansion. Transwestern Investment owns and manages the building. PWA was founded in 2015 and recently merged with HighPoint Planning Partners. Joel Berger of Bradford Allen represented PWA in the lease transaction.
LAS VEGAS — Barker Pacific Group, in a joint venture with Positive investment Group, has purchased Bank of America Tower, an office complex located at 300 S. 4th St. in Las Vegas. The acquisition marks Barker Pacific’s entry into the Las Vegas market. The joint venture will rebrand the 274,565-square-foot building as Tower 300 and implement an upgrade program to the common areas. Terms of the acquisition were not released. Mike Tabeek, Larry Singer and Christopher Crooks of Newmark will handle leasing for the building.
YONKERS, N.Y. — CBRE has negotiated the $37 million sale of 3 Executive Boulevard and 3 Odell Plaza, two office buildings totaling 130,607 square feet in Yonkers, located north of New York City. Both assets are leased on a long-term basis to a single tenant, Montefiore Health System. Jeffrey Dunne, Steven Bardsley, David Gavin, Jeremy Neuer, Gene Pride and Stuart MacKenzie of CBRE represented the seller, an entity managed by Robert Martin Co., in the transaction. The team also procured the buyer, a joint venture between Benedict Realty Group and Harbor Group International.
FORT WORTH, TEXAS — Vantage Bank Texas has signed a 15,000-square-foot office lease to be the anchor tenant at Triune Centre, a 30,000-square-foot office development at 3400 West Freeway in Fort Worth. Cullen Donohue, Seth Koschak, Chris Doggett and Vic Meyer of Stream Realty Partners represented the landlord, a partnership between Cornerstone Projects Group and Trident Structures, in the lease negotiations. Theron Bryant of Transwestern represented Vantage Bank Texas. Construction of the building is set to begin this quarter and to be complete next summer.