In a world where volatility has become the norm in commercial real estate, Memphis stands out as a market defined by consistency. While other cities have experienced dramatic swings in vacancy, absorption and construction activity, the Memphis office market continues to follow a more measured pace. “Slow and steady wins the race” is more than a phrase — it’s a fitting summary of how Memphis has maintained balance amid national disruption. Stability in supply Over the past couple of decades, the total supply of office product in Memphis has grown at a moderate pace, sitting at nearly 28 million square feet today. This disciplined approach has kept vacancy within manageable levels and prevented the oversupply issues seen elsewhere. With no new speculative construction of size since 2009, the market has had time to absorb shifts in tenant behavior without being flooded with excess space. Demand aligns with supply Because supply has remained relatively static, demand has shifted in composition rather than volume. Like many cities, Memphis has seen a “flight to quality,” with tenants prioritizing modern, amenitized spaces over outdated properties — even if that means reducing their footprint. A company that once leased 30,000 square feet in a Class …
DALLAS — HFI Capital Management has acquired 1333 Oak Lawn, a roughly 126,000-square-foot office building located in the Dallas Design District. The sales price was not disclosed. The 10-story building was completed in 2024. A partnership between FCP and Quadrant Investment Properties announced the project in early 2022, and the latter entity was named as part of the new ownership group alongside HFI. As part of the acquisition, the property will be rebranded as “The Capital Design District” and “The Capital” for short. In addition to five floors of office space, the building features 8,000 square feet of amenity space on the ninth floor. The property also features a tenant lounge dubbed “Capital Spot,” an executive conference room, fitness center, locker rooms and a rooftop pickleball court. Mexican restaurant concept Maroma will open this fall on the ground floor of the building. Located along Oak Lawn, the building is positioned directly across from The Seam, a retail redevelopment that is currently underway. Upon completion, which is scheduled for summer 2026, The Seam will feature restaurants and shops. The property is also within walking distance of restaurants and attractions including Carbone, El Carlos Elegante, the Charles, the Virgin Hotel, Hilton Anatole, …
BETHESDA, MD. — A joint venture between MRP Realty and Prime Finance has acquired Bethesda Crescent, a four-property office portfolio in downtown Bethesda, via foreclosure. Totaling 287,529 square feet, the properties included 7475 Wisconsin Ave., 7401 Wisconsin Ave., 4600 East-West Highway and 4650 East-West Highway. No brokers were involved in the transaction. The new ownership plans to reposition Bethesda Crescent, plans of which were not released.
NEW YORK CITY — A partnership between Connecticut-based Cross Ocean Partners and Dallas-based Lincoln Property Co. has acquired the leasehold interest in 470 Vanderbilt Avenue, a 650,000-square-foot office building in downtown Brooklyn. According to LoopNet Inc., the 10-story building was originally constructed in 1931 and last renovated in 2012. The building was fully leased at the time of sale, with the New York City Human Resources Administration and New York City Housing Authority serving as the longstanding anchor tenants. The seller and sales price were not disclosed, but Crain’s New York Business reports that the seller was local real estate giant RXR and the price was approximately $70 million.
CHESHIRE, CONN. — Locally based brokerage firm O,R&L Commercial has arranged the $2.7 million sale of Country Plaza, a 26,000-square-foot office and retail complex in Cheshire, located roughly midway between Hartford and New Haven. The property is home to a mix of food-and-beverage, service retail and healthcare users. Toby Brimberg of O,R&L represented the undisclosed seller and the buyer, Kisco Funding Group, in the deal.
ORANGE, CALIF. — CBRE has arranged the sale of Orangewood Corporate Plaza, a two-building office campus in Orange. Khoshbin Co. acquired the asset from an undisclosed seller for $18.9 million. Anthony DeLorenzo, Bryan Johnson and Sammy Cemo of CBRE represented the seller in the transaction. Matt Didier, David Dowd and Jennifer Whittington of CBRE advised the seller on the sale. Located at 2100-2200 Orangewood Ave., the 109,644-square-foot campus was 84 percent leased at the time of sale. The property features high-end finishes, subterranean parking and recent capital improvements totaling more than $3.3 million. Renovations included upgrades to HVAC systems, roofing, landscaping and interior common areas.
CHARLOTTE, N.C. — CBRE has negotiated the $70 million sale of Charlotte Plaza, a 27-story office tower located at 201 S. College St. in Uptown Charlotte. Morning Calm Management and Praelium Commercial Real Estate purchased the 643,638-square-foot office building from an entity doing business as South College Street LLC. Patrick Gildea and Matt Smith of CBRE represented the seller in the transaction. Built in 1982, Charlotte Plaza was 32 percent leased at the time of sale. The property features modern common areas, 13-foot ceiling heights, proximity to a Lynx Blue Line station, direct access to the Overstreet Mall, onsite structured parking and retail space anchored by STK Steakhouse.
SOUTHFIELD, MICH. — Friedman Real Estate has arranged the auction sale of West 11, a three-building office campus spanning 23.9 acres and totaling more than 640,000 square feet in the Detroit suburb of Southfield. The undisclosed buyer plans to convert the property into mixed-use. Friedman worked with auction partner Ten-X. The sales price and seller were not disclosed.
HOUSTON — MetroNational, the owner and operator of the Memorial City mixed-use district in Houston, has purchased the 442,042-square-foot former headquarters building of Marathon Oil Corp. The 15-story building was constructed in 2022 on a 3.4-acre site at the southeast corner of the I-10 and Beltway 8 intersection in West Houston’s Energy Corridor area. The building features a signature amenities floor with a conference center and breakout rooms, as well as indoor and outdoor collaboration and gathering spaces. Brandon Clarke, Kevin McConn, Rick Goings, Sanford Criner and Jeff Cairns of JLL represented the seller, ConocoPhillips, which acquired Marathon Oil last year for $22.5 billion, in the transaction. MetroNational was self-represented. The building was almost completely vacant at the time of sale. MetroNational has tapped JLL as the leasing agent.
HOUSTON — JLL has negotiated the sale of 801 Travis, a 222,192-square-foot office building in downtown Houston. Originally built in 1981 and most recently renovated in 2014, 801 Travis rises 21 stories with a parking garage on floors two through 11. The building was 45 percent leased at the time of sale. Rick Goings, Marty Hogan, Tom Hall, Gianna New and Dawson Hastings of JLL represented the seller, a court-appointed receiver, in the transaction. Morris Chen, who according to KHOU is a New York-based broker, represented the undisclosed buyer.