Monday, December 23, 2024
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530-B-St-San-Diego-CA
AcquisitionsCaliforniaOfficeWestern

Ambient Communities Buys 24-Story Office Tower in San Diego for $27.5M

by Amy Works

SAN DIEGO — Encinitas, Calif.-based Ambient Communities has acquired 530 B Street, a 24-story office tower in downtown San Diego. An undisclosed seller sold the building for $27.5 million. At the time of sale, the 250,181-square-foot tower was 76.8 percent occupied, with US Bank as a major tenant occupying 77,414 square feet. Ambient Communities plans to eventually convert the office building to primarily residential units. Mickey Morera of Kidder Mathews represented the buyer in the deal. Mary Blagg of Kidder Mathews is overseeing management of the building.

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2860-S-Circle-Dr-Colorado-Springs-CO
ColoradoHealthcareLoansOfficeWestern

MMCC Arranges $4.7M Loan for Refinancing of Colorado Springs Medical Office Building

by Amy Works

COLORADO SPRINGS, COLO. — Marcus & Millichap Capital Corp. (MMCC) has arranged a $4.7 million loan for the refinancing of a medical office building located at 2860 S. Circle Drive in Colorado Springs. Tenants at the medical office include a mental health clinic, a counseling clinic, an esthetic clinic, an acupuncture clinic and a treatment center. Garrett Fierstein of MMCC secured the financing with a local credit union on behalf of a private client. Terms of the 10-year loan include a 6.75 percent fixed interest rate with a 25 year-amortization schedule and a loan-to-value ratio of 65 percent.

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AcquisitionsIllinoisLife SciencesLoansMidwestOffice

BWE Arranges $20M Acquisition Loan for Innovation Park Office, Lab Campus in Suburban Chicago

by Kristin Harlow

LIBERTYVILLE, ILL. — BWE has arranged a $20 million loan for the acquisition of Innovation Park, a 1 million-square-foot mixed-use office and research laboratory campus in the Chicago suburb of Libertyville. Originally constructed in the 1990s to serve as an R&D facility for the Motorola Corp., Innovation Park spans 83 acres. The property was 71 percent leased at the time of loan closing. Anchor tenants include Valent BioSciences, Medline Industries and Juno Therapeutics. Daniel Rosenberg, Chris Caroll, Logan Petersmeyer and Max Miller of BWE arranged the loan through a depository institution on behalf of the borrowers, a joint venture between Chicago-based developer R2 and Chicago-based JDI Realty. The five-year loan features multiple years of interest-only payments and structured flexibility.  

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Leasing ActivityNew JerseyNortheastOffice

Interstate Waste Services Signs 30,000 SF Office Lease Expansion in Teaneck, New Jersey

by Taylor Williams

TEANECK, N.J. — Interstate Waste Services has signed a 30,000-square-foot office lease expansion at Glenpointe, a 670,000-square-foot, four-building mixed-use development in the Northern New Jersey community of Teaneck. The deal brings the company’s total footprint at Glenpointe to 47,545 square feet. Jeff Schotz, Dan Reider, Peter Kasparian and David Simson of Newmark represented the landlord, Alfred Sanzari Enterprises, in the lease negotiations. Andrew Zezas of Real Estate Strategies Corp. represented the tenant.

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Leasing ActivityOfficeTexas

Landsea Homes Signs 14,725 SF Office Lease in Irving

by Taylor Williams

IRVING, TEXAS — Landsea Homes Corp. (NASDAQ: LSEA) has signed a 14,725-square-foot office lease at Tower 1320 in Irving. The residential homebuilder, which also recently signed an 8,000-square-foot office lease in northwest Austin, plans to take occupancy next spring. The space will include a 3,000-square-foot, in-house design studio and showroom exclusively for Landsea Homes homebuyers that will feature a full kitchen and living room setup. Ryan Buchanan of CBRE represented Landsea Homes in the lease negotiations. Jeff Wood of JLL represented the undisclosed landlord.

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Leasing ActivityLife SciencesMassachusettsNortheastOffice

Nanoramic Laboratories Signs 40,000 SF Office, Life Sciences Lease in Woburn, Massachusetts

by Taylor Williams

WOBURN, MASS. — Nanoramic Laboratories has signed a 40,000-square-foot office and life sciences lease in Woburn, a northern suburb of Boston. The developer of lithium ion batteries for the automotive and aerospace industries will relocate from nearby Wakefield to 10 Commerce Way, which is owned by Cummings Properties. David Thomann of Cushman & Wakefield represented the tenant in the lease negotiations. Rob Yacobian and John Halsey represented the landlord on an internal basis.

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DevelopmentIllinoisMidwestOffice

Urban Innovations Completes Renovation of Consumers Credit Union Headquarters in Lake Forest, Illinois

by Kristin Harlow

LAKE FOREST, ILL. — Urban Innovations has completed the renovation and expansion of the Consumers Credit Union headquarters building at 300 N. Field Drive in the Chicago suburb of Lake Forest. Urban Innovations led the 140,000-square-foot renovation of an existing three-story building, which the tenant purchased in 2022 to move its headquarters from Gurnee. The project for the company’s 500 employees entailed a new interconnecting grand staircase from the first floor to the basement. Amenities include a Starbucks with lounge, fitness center, large training room and cafeteria. Other project features include an upgraded lobby and reception desk, new executive offices, a 40-person boardroom, new conference and phone rooms, six coffee bars and pantries, and a refresh of existing finishes and lighting. Partners by Design was the architect.

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404-Wyman-St.-Waltham-Massachusetts
Leasing ActivityLife SciencesMassachusettsNortheastOffice

ZoomInfo Signs 101,000 SF Office, Life Sciences Lease in Waltham, Massachusetts

by Taylor Williams

WALTHAM, MASS. — ZoomInfo (NASDAQ: ZI) has signed a 101,000-square-foot office and life sciences lease in Waltham, a western suburb of Boston. The business-to-business data ​and AI-powered sales ​platform is taking space at 404 Wyman Street, a 384,841-square-foot building that is part of a larger 2.2 million-square-foot development. CBRE represented the landlord, Hobbs Brook Real Estate, in the lease negotiations. Newmark represented ZoomInfo.

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Leasing ActivityNortheastOfficePennsylvania

CenterSquare Opens 24,000 SF Office Headquarters in Conshohocken, Pennsylvania

by Taylor Williams

CONSHOHOCKEN, PA. — CenterSquare Investment Management has opened its new, 24,000-square-foot office headquarters in Conshohocken, a northern suburb of Philadelphia. Designed by local architecture firm Meyer, the space features a variety of workspaces, including private offices, workstations, conference rooms and collaborative areas. The facility also offers a centralized hub-style café. American Real Estate Partners owns the building.

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222-E-Main-St-Mesa-AZ
AcquisitionsArizonaIndustrialOfficeWestern

Marcus & Millichap Brokers Sale of 22,722 SF Flex Building in Mesa, Arizona

by Amy Works

MESA, ARIZ. — Marcus & Millichap has arranged the sale of AMR Mesa – 222 E Main, a flex building in Mesa. A Spokane, Wash.-based limited liability company sold the asset to an undisclosed buyer for $5 million. Located at 222 E. Main St., the 22,722-square-foot building is used as flex/office space and is an AMR tenant under a nine-year lease with annual CPI adjusted rent escalations. The property was renovated in 2023. Brandon Kramer and Maxwell Rist of Marcus & Millichap represented the seller in the deal. Ryan Sarbinoff of Marcus & Millichap assisted in the closing, and Rob Cronenberg of Marcus & Millichap Capital Corp. provided up-to-date financing quotes.

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