Thursday, August 6, 2026
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Leasing ActivityLee & AssociatesMidwestOfficeOhio

Lee & Associates Signs 13,904 SF Office Lease in Metro Cincinnati

by Kristin Harlow

BLUE ASH, OHIO — Lee & Associates | Cincinnati has signed a 13,904-square-foot office lease to occupy the entire second floor of 10260 Alliance Road in Blue Ash, a southern suburb of Cincinnati. Ohio National owns the property. Todd Pease and Michelle Klingenberg of JLL represented ownership in the lease transaction. Bill Schneller and Dan McDonald of Lee & Associates represented the tenant, which is relocating from 10123 Alliance Road and is expected to take occupancy of the new space in January.

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Leasing ActivityNew YorkNortheastOffice

Ergatta Signs 11,185 SF Office Lease in Manhattan’s Flatiron District

by Taylor Williams

NEW YORK CITY — Ergatta, a health and wellness company known for indoor rowing products and fitness regimens, has signed a 11,185-square-foot office lease at 40 West 25th Street, a 136,226-square-foot building in Manhattan’s Flatiron District. The 12-story building was originally constructed in 1913 and most recently renovated in 2018. Michael Mathias and Sean Hoffman of Savills represented the tenant in the lease negotiations. A joint venture between Kaufman Organization and AXA Insurance owns the property.

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Leasing ActivityOfficeTexas

Galderma to Relocate U.S. Headquarters to Trammell Crow Center in Dallas

by Taylor Williams

DALLAS — Galderma, a Swiss dermatology company known as the maker of Cetaphil, will relocate its U.S. headquarters to Trammell Crow Center, located at 2001 Ross Ave. in The Dallas Arts District. The lease spans 50,000 square feet across the 16th and 17th floors. About 400 people will work out of the new headquarters space. Galderma plans take occupancy next summer. Trammell Crow Center offers a 9,000-square-foot athletic club, 1.4 acres of outdoor space, a 9,000-square-foot conference center and a convenient market, as well as 200 boutique hotel rooms.

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LoansOfficeTexas

Emerald Creek Capital Provides $13.2M Acquisition Loan for Houston Office Building

by Taylor Williams

HOUSTON — New York City-based Emerald Creek Capital has provided a $13.2 million bridge loan for the acquisition for a 107,923-square-foot office building in Houston’s Westchase neighborhood. The Home Depot occupies the four-story property, which sits on a 5.7-acre site about 15 miles west of downtown Houston. Matt Fantuzzi of Emerald Creek originated the loan. The borrower was not disclosed.

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Two-Drydock-Boston
AcquisitionsMassachusettsNortheastOffice

KKR, Synergy Acquire Office Building in Boston’s Seaport District for $234.5M

by Taylor Williams

BOSTON — A partnership between global investment firm KKR and Boston-based Synergy Investments has acquired Two Drydock, a 235,000-square-foot office building located in the state capital’s Seaport District, for $234.5 million. The 13-story building features 7,000 square feet of ground-floor retail space that was recently leased to Lord Hobo Brewing Co. and Render Coffee, as well as 150 above-ground parking spaces and a 10,000-square-foot outdoor plaza. Newmark represented the seller, international developer Skanska, which originally broke ground on the property in June 2018, in the transaction.

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Reno-City-Center-Reno-NV
Market ReportsNevadaOfficeWesternWestern Market Reports

Reno’s Office Market Continues to Outperform Out West

by Jeff Shaw

By Evan Meyer, Senior Office Specialist, Kidder Mathews The business climate continues to thrive in Reno as the regional economy quickly rebounded from the pandemic-fueled recession of 2020. Reno performed far better than most markets on the West Coast with a low unemployment rate (4.2 percent in August) and expanding job growth (+7.2 percent year over year). The region’s rapid growth persists as new businesses continue to move into the area, a trend that accelerated over the past few years. Most relocations are coming from California, attracted by the strong economic environment and business-friendly policies in Northern Nevada. As one of the fastest-growing regions in the U.S., expansion is occurring across multiple industries, including technology, manufacturing, distribution, financial and healthcare. The diverse and dynamic nature of the regional economy has driven the overall performance of the office market. This has produced continuous years of declining vacancy and a decade of rising rents, even through the peak levels of the pandemic. At the end of the third quarter, the vacancy rate was 7.7 percent, a 130-basis point drop compared to the previous quarter. Vacancy rates continue to decline across all submarkets due to strong demand and tenant expansion.  Net absorption also gained momentum …

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AcquisitionsOfficeTexas

City Office REIT Buys Terraces Building in Dallas for $133.5M

by Taylor Williams

DALLAS — Vancouver, British Columbia-based City Office REIT has purchased The Terraces, a 173,000-square-foot building located in the Preston Center submarket of Dallas, for $133.5 million. The property was built in 2017 and features amenities such as a fitness center, rooftop deck, full-service deli and a conference facility. At the time of sale, The Terraces was 99 percent leased to a roster of tenants with a weighted average remaining lease term of eight years. The seller was not disclosed.

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AcquisitionsOfficeTexas

Colliers Arranges Sale of 75,601 SF Office Building in Richardson, Texas

by Taylor Williams

RICHARDSON, TEXAS — Colliers has arranged the sale of Collins Commerce Center, a 75,601-square-foot office building located at 1651 N. Collins Road in the northeastern Dallas suburb of Richardson. Cody Payne and Michael Tran of Colliers represented the seller and procured the buyer, both of which were private investors that requested anonymity, in the transaction.

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AcquisitionsMidwestMissouriOffice

One Metropolitan Square Office Tower in St. Louis Sells for $145M

by Kristin Harlow

ST. LOUIS — One Metropolitan Square, an office tower in downtown St. Louis, has sold in two transactions totaling $145 million. One deal was for the building and a separate one was for the land. Kawa Capital Management, an independent asset management firm, purchased the leased fee interest. The seller, 601W Cos., had owned and operated the property since 2005. The building is 92 percent leased to 35 tenants in industries such as law, government, energy and architecture. This past summer, the U.S. Department of Agriculture signed a 20-year lease to occupy 163,000 square feet.

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IdahoMarket ReportsOfficeWesternWestern Market Reports

Employers Take Notice of Boise

by Jeff Shaw

By Patrick Shalz, Partner, TOK Commercial Net absorption in Boise’s office market through August is nearly 806,000 square feet. This has already outpaced the amount seen in 2020 by more than 40 percent. Meridian and Downtown Boise have had the most net absorption, with 232,000 square feet and 191,000 square feet, respectively. Overall vacancy has declined a full percentage point in 2021, from 7.3 percent to 6.2 percent. Multi-tenant vacancy has also declined from 11.2 percent to 10.7 percent. Many of the largest transactions of 2021 involved companies that are new to the Boise MSA. Kiln, a co-working company with offices in Utah and Colorado, leased nearly 50,000 square feet of newly constructed space in the Eagle View Landing project near Eagle Road and I-84. U.S. Investment Corp. and AMS Sensors, both of which are new to the market, leased 13,100 and 10,900 square feet, respectively, at the 11th & Idaho Building in downtown Boise. Overall asking rates have increased in the past year, rising $0.50 per square foot to $18.50 per square foot (full-service lease/FLSV, annually). Class A space in newly constructed office buildings have asking rates ranging between $26 and $30 per square foot. Landlords have been offering $60 to $65 …

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