Office

Dollar Bank Signs 76,000 SF Office Headquarters Lease in Pittsburgh

by Taylor Williams September 3, 2020

PITTSBURGH — Dollar Bank, a regional lender serving Pennsylvania, Ohio and Virginia, has signed a 76,000-square-foot lease for its new office headquarters in Pittsburgh. The company will relocate from Gateway Center to a building located at 20 Stanwix St., which offers amenities such as a fitness center, conferencing facility and indoor and outdoor tenant lounges. Under the terms of the 16-year lease, Dollar Bank will occupy four floors and a ground-floor reception suite beginning in the first quarter of next year.

September 3, 2020

California Development Office Retail Western

RevOZ, Argosy Plan Redevelopment of 127,000 SF Office Building in Sacramento

by Amy Works September 3, 2020

SACRAMENTO — RevOZ Capital has formed a joint venture with Argosy Real Estate Partners to purchase a 127,000-square-foot office property located at 660 J St. in downtown Sacramento. SG Downtown LLC, an affiliate of the Sacramento Kings ownership group, sold the building for an undisclosed price. The joint venture plans to rehabilitate and re-image the four-story building into a mix of office and retail space to complement the recently completed Downtown Commons (DoCo) sports and entertainment district. Renovation plans include redesigning the building to LEED-certification standards, re-skinning the building’s exterior, recreating a lobby, adding on-site amenities, creating new outdoor space, updating restrooms and modernizing building systems. LPA is serving as architect and Cushman & Wakefield will market the property upon completion in late 2021.

September 3, 2020

Leasing Activity New York Northeast Office

NKF Negotiates 25,000 SF Office Lease for Law Firm in Purchase, New York

by Taylor Williams September 2, 2020

PURCHASE, N.Y. — Newmark Knight Frank (NKF) has negotiated a 25,000-square-foot office lease for law firm Milber Makris Plousadis & Seiden LLP at 100 Manhattanville Road in Purchase, located north of New York City in Westchester County. The four-story building spans 290,631 square feet, is situated on 23.8 acres and features a full-service cafeteria, fitness center and a concierge desk. Patricia Valenti of NKF represented the tenant in the lease negotiations. Lawrence Ruggieri, also with NKF, represented the landlord, RPW Group Inc.

September 2, 2020

Leasing Activity New Jersey Northeast Office

Mendham Capital Management Signs 3,243 SF Office Lease Extension in Basking Ridge, New Jersey

by Taylor Williams September 2, 2020

BASKING RIDGE, N.J. — Mendham Capital Management, an affiliate of Raymond James, has signed a 3,243-square-foot office lease extension in the Northern New Jersey city of Basking Ridge. Rick Genthe and Sean O’Brien of Lincoln Property Co. represented the landlord, CIG Properties, in the lease negotiations. Lee Barnes of Woodman Group represented the tenant.

September 2, 2020

Loans Office Texas

CIM Group Provides $190M Bridge Loan for Refinancing of Metro Dallas Office Complex

by Taylor Williams September 2, 2020

FARMERS BRANCH, TEXAS — Los Angeles-based CIM Group has provided a $190 million bridge loan for the refinancing of International Plaza, a 780,000-square-foot office campus located in the northern Dallas metro of Farmers Branch. The Class A property consists of a 13-story building and a 15-story building that were recently upgraded to offer new indoor and outdoor amenities. Rob Rubano, Greg Napper and Brian Share of Cushman & Wakefield arranged the loan, which was structured with a five-year term and a floating interest rate. The borrower, Taconic Capital Partners, acquired the asset in 2018.

September 2, 2020

Development Office Texas

Kaizen Development Completes 200,000 SF One Bethany West Office Building in Allen, Texas

by Taylor Williams September 2, 2020

ALLEN, TEXAS — Kaizen Development Partners has completed One Bethany West, a 200,000-square-foot office building in the northeastern Dallas suburb of Allen. One Bethany West is the third office building in the One Bethany at Watters Creek development, which consists of two completed buildings totaling 300,000 square feet and the capacity for an additional 600,000 square feet of new development. BOKA Powell designed the eight-story property, which offers amenities such as a fitness center, conferencing center, tenant lounge, golf simulator and outdoor activity space. Highlands Residential Mortgage recently signed a lease to become the inaugural tenant.

September 2, 2020

Acquisitions Indiana Midwest Office

Sturges Property Group Brokers Sale of 4,296 SF Office Building in Fort Wayne

by Kristin Harlow September 2, 2020

FORT WAYNE, IND. — Sturges Property Group has brokered the sale of a 4,296-square-foot office building located at 608 Union Chapel Road in Fort Wayne. The sales price was undisclosed. Neal Bowman and Phil Hagee of Sturges represented the seller, Nolan Commercial Property, as well as the buyer, Professional Emergency Physicians.

September 2, 2020

Acquisitions Florida Office Southeast

IPA Arranges $28.5M Sale of North Lake Business Park in Altamonte Springs, Florida

by Alex Tostado September 2, 2020

ALTAMONTE SPRINGS, FLA. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the $28 million sale of North Lake Business Park, a 15-building office campus in Altamonte Springs. The property comprises 270,000 square feet and was 90 percent leased at the time of sale to a mix of technology, real estate and healthcare tenants. North Lake Business Park is situated on 29 acres at 600 Northlake Blvd., 11 miles north of downtown Orlando. Douglas Mandel of IPA represented the seller, Real Capital Solutions, in the transaction. Mandel also procured the buyer, Taurus Investment Holdings LLC.

September 2, 2020

The Grove at Shoal Creek is a 76-acre destination with office, retail and residential uses

Leasing Activity Office Texas

Auctane Signs 105,385 SF Office Lease at The Grove at Shoal Creek in Austin

by Taylor Williams September 1, 2020

AUSTIN, TEXAS — Auctane, a subsidiary of stamps.com and a provider of software for the e-commerce industry, has signed a 105,385-square-foot office lease at The Grove at Shoal Creek, a mixed-use development located at 4301 Bull Creek Road in Austin. Developed by a joint venture between MileStone Community Builders and Castletop Capital, The Grove at Shoal Creek is a 76-acre destination with office, retail and residential uses. John Gump and Kelly Woodruff of CBRE represented Auctane in the lease negotiations. Travis Dunaway of Endeavor Real Estate Group represented the landlord.

September 1, 2020

Leasing Activity Office Texas

Momentum Midstream Renews 22,575 SF Office Lease in Downtown Houston

by Taylor Williams September 1, 2020

HOUSTON — Energy firm Momentum Midstream has renewed its 22,575-square-foot office lease renewal at 600 Travis St. in downtown Houston. Mark Russell of Newmark Knight Frank represented the tenant in the lease negotiations. Michael Anderson, Diana Bridger, Margaret Elkins and Brad Beasley of Cushman & Wakefield represented the landlord, a partnership between Hines and Cerberus Capital Management. At 75 stories, 600 Travis is the tallest building in Texas and offers a 7,000-square-foot fitness center, a 280-seat auditorium and 12 floors of parking.

September 1, 2020

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