Office

Time Equities Acquires 177,624 SF Loft Office Building in Cincinnati

by Kristin Harlow February 28, 2020

CINCINNATI — Time Equities Inc. has acquired 302 West Third in Cincinnati for an undisclosed price. The nine-story, 177,624-square-foot office building was originally built in 1915 and renovated in 2001 and 2016. The loft-style property features a conference center and complimentary morning coffee for all tenants, some of which include Al Neyer, Baxter Hodell Donnelly Preston Inc., Immedion and Grey Advertising. Max Pastor and Brian Soto of TEI led the acquisition on behalf of the organization. Michael Sullivan of Cushman & Wakefield represented the seller, an affiliate of HighBrook Investors.

February 28, 2020

Acquisitions Massachusetts Northeast Office Retail

Northeastern University Acquires Horticultural Hall Office, Retail Building in Boston for $22M

by Alex Patton February 28, 2020

BOSTON — Northeastern University has acquired Horticultural Hall, a 45,192-square-foot office and retail property in the Back Bay neighborhood of Boston. Located at 300 Massachusetts Ave., the building was constructed in 1901 as the headquarters of the Massachusetts Horticultural Society. At the time of sale, tenants included marketing agencies 829 Studios and Finn Partners, as well as Boston Magazine and the Museum of Fine Arts. Robert Griffin, Michael Greeley, Jason Cameron and Ali Cavanaugh of Newmark Knight Frank represented Northeastern University in the transaction. The team also represented the seller, Marcus Partners.

February 28, 2020

Leasing Activity New York Northeast Office

Law Firm Signs 14,888 SF Office Lease Expansion in Manhattan

by Alex Patton February 27, 2020

NEW YORK CITY — Law firm Rivkin Radler LLP has signed a 14,888-square-foot office lease expansion in Midtown Manhattan. The company is already a tenant at 477 Madison Avenue and will move into its new space after ownership completes the build-out later this year. The law firm represented itself in the lease negotiations. A.J. Camhi, Rob Weller and Ryan Silverman led a leasing team that represented the building owner, RFR, on an internal basis.

February 27, 2020

Leasing Activity New York Northeast Office

CBRE Negotiates 9,397 SF Office Lease in Manhattan

by Alex Patton February 27, 2020

NEW YORK CITY — CBRE has negotiated a 9,397-square-foot office lease for co-living space provider The Collective in the SoHo neighborhood of Manhattan. The tenant will occupy the entire top floor and penthouse of the SoHo Building located at 110 Greene St. beginning in early March. Alexander Golod and Neil King of CBRE represented The Collective in the lease negotiations. SL Green Realty Corp. owns the building.

February 27, 2020

Leasing Activity Office Texas

TCS Negotiates Three Office Leases Totaling 145,000 SF in Plano

by Taylor Williams February 27, 2020

PLANO, TEXAS — Transwestern Commercial Services (TCS) has negotiated three leases totaling 145,000 square feet at an office building located at 3033 W. President George Bush Turnpike in Plano. Nathan Durham and Duane Henley of TCS represented the landlord, Champion Partners, in all three lease negotiations. Brad Struck and Roy Reis of ESRP represented Paragon Healthcare in its 70,000-square-foot lease; Clay Vaughn and Preston Lynn of CBRE represented Australian technology firm Appen Inc. in its 50,000-square-foot lease; and a team led by Scott Hobbs of Cushman & Wakefield represented a division of Samsung in its 25,000-square-foot lease.

February 27, 2020

Acquisitions California Office Western

Prime US REIT Acquires Park Tower Office Building in Sacramento for $165.5M

by Amy Works February 27, 2020

SACRAMENTO, CALIF. — Prime US REIT has purchased Park Tower, an office asset in downtown Sacramento, for $165.5 million. KBS is the U.S.-based asset manager for the buyer that identified and sourced the Park Tower opportunity on behalf of Prime. Located at 980 Ninth St. and 1010 Eighth St., the 24-story property features 489,171 square feet of office, retail and parking garage space. Park Tower was built in 1992 and renovated in 2019, while its parking area was constructed in 1961 and renovated in 1988. The LEED Gold-certified building features a suite of on-site tenant amenities, including a recently renovated fitness center, locker rooms, conference center and tenant lounge. The property also offers a three-story atrium lobby, high-efficiency building systems, 15,000-square-foot to 28,000-square-foot flexible floor plates and above-market parking in two garages at a ratio of 2.4/1,000. Grant Lammersen, Steve Golubchik and Tyler Myerdirk of Newmark Knight Frank brokered the transaction. Bruce Fischer, Christine Fan and Howard Chu of Greenberg Traurig LLP’s Orange County, Calif., office served as Prime’s legal counsel in the acquisition.

February 27, 2020

Acquisitions Midwest Missouri Office Retail

Block & Co. Arranges $1.1M Sale of Office, Retail Building in Kansas City

by Kristin Harlow February 27, 2020

KANSAS CITY, MO. — Block & Co. Inc. Realtors has arranged the sale of a 12,000-square-foot office and retail building in Kansas City for $1.1 million. The property is located at 7208 Wornall Road within the Waldo District. Domino’s Pizza and Injury Chiropractic occupy the 4,000 square feet of retail space on the first floor. The second-floor office space of 5,500 square feet is currently available for lease. Marshal Blount of Block & Co. brokered the sale. An investment group purchased the asset.

February 27, 2020

Data Centers Development Industrial Office Top Stories

Google to Invest $10B This Year in Office, Data Centers Across the United States

by Alex Tostado February 27, 2020

MOUNTAIN VIEW, CALIF. — Google (Nasdaq: GOOGL) plans to invest $10 billion in office and data centers in 11 states this year that will create thousands of jobs. The 11 states will be Colorado, Georgia, Massachusetts, Nebraska, New York, Oklahoma, Ohio, Pennsylvania, Texas, Washington and California, according to Sundar Pichai, CEO of Google and its parent company, Alphabet Inc. In 2019, Mountain View-based Google announced it would invest $13 billion in major office and data center expansions in 14 states. Combined with other investments, Alphabet was the largest investor in the United States last year, according to the Progressive Policy Institute’s Investment Heroes 2019: Boosting U.S. Growth report. Data Centers Google plans to open or expand 13 data centers nationwide. Data center expansions in the South include locations in Georgia, Texas, Virginia, Alabama, South Carolina and Tennessee. In the Midwest, the company will open a new data center in Ohio and expand an existing center in Iowa. Nebraska and Oklahoma will see expanded data centers. Lastly, Google will expand data centers in Oregon and Nevada. Office Space Google plans to open new offices or expand its existing space in 19 communities. Google office expansions are slated for Minnesota, Wisconsin, Illinois …

February 27, 2020

Acquisitions Florida Office Southeast

Denholtz Properties Acquires Office Portfolio in Tampa for $26.5M

by Alex Tostado February 26, 2020

TAMPA, FLA. — Denholtz Properties has acquired the Thompson Center, a nine-building, 225,651-square-foot office portfolio in Tampa, for $26.5 million. The properties are located at 5455-5557 W. Waters Ave., 10 miles northwest of downtown Tampa. The portfolio was 95 percent leased to 29 tenants at the time of sale, including The Home Depot, Eckerd Youth Alternatives, BayCare Health System, Keller Group and Terracon. Rick Brugge and Mike Davis of Cushman & Wakefield represented the seller, First Industrial Realty Trust, in the transaction.

February 26, 2020

Development Office Texas

MetroNational Breaks Ground on 190,000 SF Office Project in Uptown Houston

by Taylor Williams February 26, 2020

HOUSTON — Locally based investment and development firm MetroNational has broken ground on a 190,000-square-foot office project within a four-acre mixed-use development in Uptown Houston. Designed by Kirksey Architects, the Class A building will offer 21,000 square feet of leasable space per floor and will include 4,500 square feet of ground-floor retail and restaurant space. An expected completion date has not yet been determined.

February 26, 2020

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