Office

Lowe, Related Fund Management Start Construction of 113,000 SF Office Building in Los Angeles

by Amy Works July 15, 2020

LOS ANGELES — A joint venture between Lowe and Related Fund Management (RFM) has commenced construction of a nine-story office building located at 2130 Violet St. in Los Angeles’ Arts District. Lowe and RFM recently formed a partnership for the Violet Street development, which Lowe has been planning since 2017. The 113,000-square-foot building will feature 27,000-square-foot open floorplates, high ceilings, operable windows and energy-efficient building systems and HVAC. The building’s top four floor will be dedicated to contemporary and flexible office space, with substantial terraces allowing for increased circulation of fresh air and connected indoor/outdoor work and meeting spaces. The property will also feature a 3,000-square-foot rooftop deck with lounge seating, tables and chairs for tenants use. As part of the development, the joint venture is installing public infrastructure, including sidewalks, crosswalks, a traffic signal, tree grates, street lighting and landscaping along Violet Street. Ware Malcomb is serving as architect and Swinerton is serving as general contractor for the project, which is slated for completion in early 2022. Mike Condon Jr., Pete Collins, Scott Menkus and Brittany Winn of Cushman & Wakefield are handling leasing for the development. Todd Tydlaska and Mike Caprio of CBRE, along with Mike Condon of …

July 15, 2020

Development Office Texas

Westdale, StreetLights Open 310-Unit Hamilton Apartments in Dallas’ Deep Ellum District

by Taylor Williams July 14, 2020

DALLAS — Westdale Real Estate Investment & Management and StreetLights Residential have opened The Hamilton, a 310-unit apartment community in the Deep Ellum neighborhood of Dallas. The 26-story building is located within The Epic mixed-use development and features studio, one-, two- and three-bedroom units that are furnished with custom cabinetry, floor-to-ceiling windows and built-in desks. Amenities include a pool, outdoor entertainment space with fire pits, resident bar, fitness center, media space and 23,000 square feet of attached retail and restaurant space. Rents for studio units start at $1,685 per month, according to apartments.com.

July 14, 2020

Leasing Activity Office Texas

Global Finance Firm Signs 250,000 SF Office Lease at 600 Travis Street in Downtown Houston

by Taylor Williams July 14, 2020

HOUSTON — An undisclosed global financial services firm has signed a 250,000-square-foot office lease at 600 Travis Street, a 1.7 million-square-foot building in downtown Houston that is also known as the JPMorgan Chase Building. The 75-story property, which is the tallest building in the city, will soon be renovated to upgrade its lobby, exterior plaza, collaborative workspace and conference center. Michael Anderson, Diana Bridger and Margaret Elkins of Cushman & Wakefield, along with Chanse McLeod of law firm Hunton Andrews Kurth LLP represented the landlord, a partnership between Hines and Cerberus Capital Management, in the lease negotiations.

July 14, 2020

Leasing Activity Office Texas

SkyWalker Property Partners Expands, Relocates DFW Office Headquarters

by Taylor Williams July 14, 2020

GRAND PRAIRIE, TEXAS — Locally based investment firm SkyWalker Property Partners has expanded and relocated its metroplex office headquarters to Brookhollow Riverside, a 119,314-square-foot building in Grand Prairie that the company originally purchased in 2006. SkyWalker relocated from Arlington, where it has operated for the past 12 years, and has since added three full-time professionals to its team.

July 14, 2020

Leasing Activity Office Texas

Poynter Commercial Negotiates 20,270 SF Office Lease in Houston

by Taylor Williams July 14, 2020

HOUSTON — Poynter Commercial Properties Group has negotiated a 20,270-square-foot office lease expansion at 11700 Katy Freeway in Houston. The 14-story property spans 325,000 square feet. Kevin Poynter and Peyton Poynter of Poynter Commercial represented the landlord, an affiliate of ATCAP Partners, in the lease negotiations. David Bale and Don Foster of JLL represented the tenant, human resource consulting firm Robert Half International.

July 14, 2020

Loans New York Northeast Office

PGIM Real Estate Provides $100M Loan for Refinancing of 52 Broadway Office Building in Manhattan

by Taylor Williams July 14, 2020

NEW YORK CITY — PGIM Real Estate has provided a $100 million loan for the refinancing of 52 Broadway, a 19-story, 426,000-square-foot office building located two blocks from the New York Stock Exchange in Manhattan. The borrower was a joint venture between Jack Resnick & Sons and Ruben Cos. Resnick acquired the building, which was originally constructed in 1898, in 1978 and implemented an extensive renovation and expansion to add six more floors. Today, the building is net leased on a long-term basis to the United Federation of Teachers.

July 14, 2020

Development Midwest Office Wisconsin

Milliman Slated to Occupy 118,300 SF Office at Golf Parkway Corporate Center Near Milwaukee in Summer 2022

by Kristin Harlow July 14, 2020

BROOKFIELD, WIS. — Milliman Inc., an international actuarial and consulting firm, has unveiled plans to move its Brookfield office to Golf Parkway Corporate Center, which is currently in the pre-development phase. The company will occupy 118,300 square feet within a six-story, 186,000-square-foot building. Milliman’s space will feature flexible floor plates, floor-to-ceiling windows, healthy design and exclusive amenities, according to the developer, Irgens. Construction is scheduled to begin this fall with initial occupancy slated for summer 2022. Golf Parkway Corporate Center will consist of two Class A office buildings totaling 231,000 rentable square feet. Common areas will include a conference room, tenant lounge, outdoor patio, bike storage and fitness center. Kahler Slater is the architect and CG Schmidt is the general contractor. William Bonifas of CBRE represented Milliman in the lease transaction.

July 14, 2020

Acquisitions Illinois Midwest Office

Marcus & Millichap Brokers $3.4M Sale of Government-Occupied Office Building in Chicago

by Kristin Harlow July 14, 2020

CHICAGO — Marcus & Millichap has brokered the sale of a 38,747-square-foot office property occupied by the Illinois Department of Human Services in Chicago for $3.4 million. The single-tenant building is located at 1642 W. 59th St. Adrian Mendoza, Austin Weisenbeck and Sean Sharko of Marcus & Millichap marketed the property on behalf of the seller, a fund manager. A Chicago-based private investor purchased the asset. The Illinois Department of Human Services is one of the state’s largest agencies with more than 13,000 employees.

July 14, 2020

Arizona Development Office Western

Ryan Cos., University Realty Complete Third Phase of Novus Innovation Corridor in Tempe, Arizona

by Amy Works July 14, 2020

TEMPE, ARIZ. — Ryan Cos. and University Realty LLC have completed 777 Tower at Novus Innovation Corridor, the third phase of the Arizona State University (ASU) Novus Innovation Corridor in Tempe. Totaling 160,000 square feet, the six-story, multi-tenant building features an open floor plan, penthouse office space, 8,000 square feet of ground-floor retail space and a public urban plaza. DAVIS served as architect of record for the building, which Ryan Cos. built. The building is 84 percent leased by a mix of tenants, including ASU’s Herberger Gallery, University City Exchange, University Real Estate Development, Master of Design, Master of Innovation and Venture Development, and the Innovation Studio. Additionally, Infosys, a next-generation digital services and consulting firm, occupies the fourth and fifth floors at the building. At full build-out, Novus Innovation Corridor will feature more than 10 million square feet of mixed-use opportunities, including the 2.1 million-square-foot Marina Heights campus that Ryan Cos. and Sunbelt Holdings co-developed. Catellus Development Corp. is the master developer of the 355-acre, multi-phased Novus Innovation Corridor.

July 14, 2020

Acquisitions California Office Western

CBRE Global Investors Buys 137,625 SF Historic Office Building in San Francisco

by Amy Works July 14, 2020

SAN FRANCISCO — A fund sponsored by CBRE Global Investors has acquired 123 Townsend Street, an office building located in San Francisco’s SoMa neighborhood. Terms, including acquisition price and seller, were not released. The acquisition is part of the fund’s broader strategy to invest in target office markets across the United States. Built in 1903, the six-story, brick-and-timber building underwent a full renovation in 2000, including significant seismic structural upgrades, a new roof, new systems and the addition of elevators and skylights. Totaling 137,625 square feet, the low-rise property features multiple stairwells and large, flexible floorplans. On-site amenities include a fitness center, bike storage and rooftop deck.

July 14, 2020

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