Office

JLL Arranges $80M Sale of Two Office Buildings in Raleigh

by Alex Tostado March 6, 2020

RALEIGH, N.C. — JLL has arranged the $80 million sale of two office buildings spanning 175,444 square feet on the Centennial Campus of North Carolina State University (NC State) in north Raleigh. The portfolio comprises The Center for Technology & Innovation, which is located at 1010 Main Campus Drive, and Keystone Science Center, located at 1791 Varsity Drive. Keystone Science Center was delivered in 2010 and totals 70,446 square feet. The Center for Technology & Innovation was built in 2016 and comprises 104,998 square feet. Both buildings were fully leased at the time of sale to tenants including the State of North Carolina, Bandwidth Inc. and Cengage. The seller, Keystone Corp., developed both buildings on behalf of NC State. The undisclosed buyer has retained Keystone to manage the properties. Ryan Clutter, Scot Humphrey, Chris Lingerfelt and Zack Drozda of JLL represented the seller in the transaction.

March 6, 2020

Development Florida Office Southeast

Summit Consulting to Develop 135,000 SF Headquarters in Lakeland, Florida

by Alex Tostado March 6, 2020

LAKELAND, FLA. — Summit Consulting LLC will develop its planned 135,000-square-foot office headquarters in downtown Lakeland. The company closed on the land sale at 117 Massachusetts Ave. on Tuesday, March 3 and plans to begin construction later this month. Summit expects to deliver the new building in fall 2021. The property backs up to the shore of Lake Mirror. Summit, which was founded in Lakeland in the late 1970s, has approximately 750 employees, nearly 500 of whom will be located in the new facility. The company specializes in providing workers’ compensation insurance coverage in the Southeast.

March 6, 2020

Development Office Texas

Cawley Partners, Rosewood to Develop 1 MSF Office Project at Heritage Creekside in Plano

by Taylor Williams March 6, 2020

PLANO, TEXAS — Cawley Partners and Rosewood Property Co. will develop a 1 million-square-foot office project at Heritage Creekside, a 156-acre mixed-use development in Plano. The four-building project will be developed in phases and will include a central courtyard and an amenity hub. Phase I will feature a six-story, 250,000-square-foot building with a fitness center, conference center and a rooftop deck. The development team hopes to begin construction by the first quarter of 2021.

March 6, 2020

Illinois Leasing Activity Midwest Office

Medline to Open 140,000 SF Sales Support Center in Libertyville, Illinois

by Kristin Harlow March 6, 2020

LIBERTYVILLE, ILL. — Medline has unveiled plans to open a 140,000-square-foot sales support center in Libertyville, a northern suburb of Chicago. The company will consolidate nearly a dozen teams totaling 600 employees at the center, which will be the seventh Medline facility in Lake County. Most of the employees will be relocating from the company’s Northfield headquarters or its Mundelein business campus. Both locations have reached capacity. In the last three years, Medline has increased its Chicago-area jobs by 34 percent. Medline provides clinical and supply chain resources to healthcare systems and independent facilities across the continuum of care.

March 6, 2020

Development Illinois Midwest Office

Lizzadro Properties Redevelops Suburban Chicago Building into Museum, Office Space

by Kristin Harlow March 6, 2020

OAK BROOK, ILL. — Lizzadro Properties has completed the redevelopment of 1220 Kensington Road in Oak Brook. The building is now home to the Lizzadro Museum of Lapidary Art, which focuses on stone art. The Museum Plaza Professional Offices are located on the second floor. Lizzadro purchased the 1970s-era office building in the fall of 2015. Lizzadro now occupies a portion of the second-floor space for its family business operations. The remaining 13,600 square feet of space is being leased to other office users, including Skawski Law Offices LLC, Waddell & Reed Financial Advisory, AFIN Family Wealth Management and Sarantakis Law Group LTD. Only 900 square feet remain available for lease. Lizzadro worked with Wright Heerema Architects and Keeley Construction on the project.

March 6, 2020

Leasing Activity New York Northeast Office

Investment Advisory Firm Signs 7,300 SF Office Lease Extension in Manhattan

by Alex Patton March 6, 2020

NEW YORK CITY — Investment advisory firm Neville, Rodie & Shaw Inc. (NRS) has signed a 10-year office lease extension for its 7,300-square-foot space at 200 Madison Avenue in the Grand Central neighborhood of Manhattan. NRS will remain in its space on the 20th floor of the 26-story building, which it has occupied for more than 30 years, through 2031. NRS was represented internally in the lease negotiations. Andrew Conrad and Matt Coudert represented the building owner, a partnership of George Comfort & Sons, Loeb Partners Realty and Jamestown, also on an internal basis.

March 6, 2020

Acquisitions Florida Office Southeast

Bankers Healthcare Acquires 130,000 SF Office Building in South Florida

by Alex Tostado March 5, 2020

MIRAMAR, FLA. — Bankers Healthcare Group has acquired 3700 Lakeside Drive, a six-story, 130,000-square-foot office building in Miramar. Bankers Healthcare will relocate its headquarters to the new building in October after remodeling the space to include a fitness center with personal trainers, café, yoga room and a massage room. G. Alvarez Studio will serve as the architect of the renovation. The building is located 26 miles northwest of downtown Miami in Broward County. Bankers Healthcare will have 260 employees occupying the first three floors. Current tenants on the fourth through sixth floors will remain in place. Bankers Healthcare is currently in Davie, Fla., and will retain that space after the move to make it available for commercial lease. The company provides financial advice to licensed healthcare practitioners. Butters Realty & Management represented the buyer in the off-market transaction. Further details of the sale were not disclosed.

March 5, 2020

Acquisitions Office Washington Western

Marcus & Millichap Brokers $23.6M Sale of Crestwood Corporate Plaza Office Building in Metro Seattle

by Amy Works March 5, 2020

BELLEVUE, WASH. — Marcus & Millichap has arranged the sale of Crestwood Corporate Plaza, an office building located in Bellevue. A West Coast-based private equity investor acquired the property from an undisclosed seller for $23.6 million, or $317 per square foot. Constructed in 2001, Crestwood Corporate Park offers 74,442 square feet of office space adjacent to the Interstate 90 light rail station. At the time of sale, a variety of technology companies and regional service offices had the property to 60 percent occupancy.

March 5, 2020

Acquisitions Michigan Midwest Office

L. Mason Capitani Brokers Sale of 36,000 SF Office Building in Troy, Michigan

by Kristin Harlow March 5, 2020

TROY, MICH. — L. Mason Capitani CORFAC International has brokered the sale of the Summit Centre office building located at 575 E. Big Beaver Road in Troy. The sales price was undisclosed. California-based LREH Michigan LLC purchased the fully leased, 36,000-square-foot asset. Mason L. Capitani brokered the transaction. L. Mason Capitani will continue serving as leasing agent for the property. The company’s management arm, Liberty Property & Asset Management, will assume day-to-day operations of the property.

March 5, 2020

Leasing Activity Massachusetts Northeast Office

Tango Therapeutics Signs 65,000 SF Office Lease in Boston

by Alex Patton March 5, 2020

BOSTON — Tango Therapeutics, a biotechnology company that develops treatments for cancer patients, has signed a 65,000-square-foot office lease in the Fenway neighborhood of Boston. Tango will move its headquarters to 201 Brookline Avenue, a 500,000-square-foot, Class A lab and office building that is currently under construction and slated for completion later this year. Local developer Samuels & Associates owns the property. Jon Varholak, Eric Smith and McKenna Teague of CBRE represented Tango in the lease negotiations.

March 5, 2020

Newer Posts

Older Posts