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.
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.
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.
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.
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.
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.
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.
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.
ATLANTA — Portman has delivered Ten Twenty Spring, a new 530,000-square-foot office tower in Midtown Atlanta. The Class A office building is part of the locally based developer’s Spring Quarter mixed-use development that comprises the office tower, an apartment high-rise called Sora that opened last fall, street-level retail space and the historic H.M. Patterson Home and Gardens. Ten Twenty Spring features 32,000-square-foot floor plates and 10-foot floor-to-ceiling windows, as well as 15,000 square feet of private terraces and 20,000 square feet of amenity space. Sozou, a new Japanese restaurant from Chef Fuyuhiko Ito, will open at the office tower’s ground floor in summer 2025. The restaurant group will also open Omakase by Ito on the office tower’s eight-floor rooftop. Portman has tapped Glenn Kolker, Preston Menning and Malik Leaphart of Stream Realty Partners to lease Ten Twenty Spring.
SAN ANTONIO — CBRE has brokered the sale of an 80,000-square-foot office building located at 3900 Rogers Road on the west side of San Antonio. According to LoopNet Inc., the building was originally constructed in 2005. Larry Mendez and Yobana Castillo of CBRE represented the buyer, COPT Defense Properties, in the transaction. Chesapeake Associates Ltd. sold the asset for an undisclosed price.