NEWARK, N.J. — A partnership led by New Jersey-based investment firm Onyx Equities has acquired a 10-building, 1.5 million-square-foot office portfolio in Morris County, New Jersey, from Mack-Cali Corp. The portfolio consists of nine buildings in Parsippany and one in Madison. Onyx Equities, which acquired the portfolio in partnership with Taconic Capital Advisors LP, Axonic Capital LLC and Machine Investment Group, will implement a capital improvement plan. JLL brokered the deal.
PHILADELPHIA — Nerd Street Gamers, a provider of infrastructure services for the esports industry, will open The Block, an esports campus at 401 N. Broad St. in Philadelphia. Christian Dyer and Jackie Balin of CBRE represented data center owner-operator Netrality, which owns the 1.3 million-square-foot building, in the lease negotiations. The space will not only function as Nerd Street Gamers’ new corporate headquarters, but it will also include global broadcast studios, dedicated training centers for professional teams and schools and educational space for community partners.
MINNEAPOLIS — Deluxe Corp. has leased 71,000 square feet of office space at 801 Marquette Ave. and 23,000 square feet at 121 S. Eighth St. in Minneapolis. Franklin Street Properties Corp. owns both office buildings, which now boast occupancy rates of approximately 92 percent. Deluxe, a financial tech firm, also leased 172,000 square feet of office space in Atlanta this month.
BELLEVUE, WASH. — The specialty outdoor retailer REI Co-op has completed the disposition of its newly completed corporate campus in Bellevue’s Spring District. Facebook acquired the property for $390 million. Site developer Wright Runstad & Co. and Shorenstein Properties also purchased an undeveloped two-acre portion of the property. Facebook’s acquisition includes the 400,000-square-foot campus and approximately six acres of land. In August, REI announced its intention to sell its Bellevue campus and shift to a more distributed work model. The co-op’s future “headquarters” will span multiple satellite locations across the region, and REI will lean into remote working as a more engrained, supported and normalized model for headquarters employees. Following the sale, REI and Facebook are each donating $1 million to the Eastrail, a 42-mile trail that the co-op has been involved in bringing to life for the last four years. Once complete, the trail system will connect the diverse communities and businesses of King County’s Eastside through access to transit alternatives, employee hubs and greenspace.
PLANO, TEXAS — Locally based developer KDC has partnered with JBP Properties to develop Phase III of Parkside on Legacy in Plano. The third phase will deliver office options ranging in size from 200,000 to 500,000 square feet on a 16-acre site that is located within Legacy Business Park. Myers Commercial will market the buildings for lease. A construction timeline was not disclosed.
DALLAS — Coca-Cola Southwest Beverages, a Dallas-based bottler of the soft drink giant, has signed an office lease at Lincoln Centre, a 1.6 million-square-foot office campus located at 5420 LBJ Freeway in North Dallas. Matthew Schendle and Clint Madison of Cushman & Wakefield represented the landlord, Nuveen Real Estate, in the lease negotiations. Conor McCarthy and Greg Biggs of JLL represented the tenant, which expects to move in to its new space next year. The square footage of the lease was not disclosed.
DETROIT — Bedrock, the real estate arm of Quicken Loans Founder Dan Gilbert, has acquired the former Sakthi Automotive Group USA real estate portfolio in southwest Detroit for $38.5 million. The office and industrial campus was in receivership. Huntington National Bank filed a lawsuit last year against Sakthi after the auto supplier defaulted on its debts. Friedman Real Estate brokered the sale of the 620,000-square-foot portfolio, which spans five buildings and also includes developable land. Kevin George and Jared Friedman of Friedman facilitated the deal in partnership with court-appointed receiver Kevin English of Lark Advisors LLC. Dragich Law Firm served as counsel for the receiver. The facilities primarily served as Sakthi’s manufacturing operations, housing machining equipment, robotics assembly and warehousing space. The campus is currently home to one tenant, MOBIS, which is an automotive parts supplier for Fiat Chrysler Automotive and Hyundai.
IRVINE, CALIF. — A joint venture between Meridian and Harrison Street has purchased a Class A office building located at 114 Pacifica Court in Irvine. The joint venture plans to invest additional capital in building improvements to convert the property into medical office space. Situated on 4.8 acres, the property features 110,400 square feet. At the time of sale, the property was 60 percent occupied. Constructed in 1999, the building is currently named Pacifica Court, but will be renamed to Pacifica Medical Plaza once conversion is complete. Anthony DeLorenzo and Todd Tydlaska of CBRE represented the seller, an institutional owner, while the joint venture represented itself in the deal. John Wadsworth and Aaron Phillips of Colliers International will handle leasing for the property following the medical office conversion.
SAN DIEGO — Newport Beach, Calif.-based Buchanan Street Partners has completed the disposition of an office building located at 6059 Cornerstone Court West in San Diego. A private buyer acquired the asset for $20.6 million, or $398 per square foot. Verimatrix, a San Diego-based company that specializes in content security for digital television services, occupies the 51,690-square-foot building, which is located within Cornerstone Heights Corporate Center. Matt Pourcho, Gary Stache, Anthony DeLorenzo and Bryan Johnson of CBRE represented the seller, whiel Joe Winkelmann of Colliers International represented the buyer in the transaction.
ATLANTA — Piedmont Office Realty Trust, a metro Atlanta-based office REIT, has signed financial tech firm Deluxe Corp. to a 172,000-square-foot office lease at Glenridge Highlands II in Atlanta. The 20-story office tower is located at 5565 Glenridge Connector in Atlanta’s Central Perimeter submarket. Deluxe plans to bring approximately 700 jobs to metro Atlanta with more to come in the near future. The company plans to invest approximately $12 million to construct, build-out and furnish the space at Glenridge Highlands II. Piedmont Office Realty Trust owns the 424,000-square-office building, as well as the adjacent Glenridge Highlands I, and is planning to develop a new 250,000-square-foot office tower on the campus.