Office

Poynter Commercial Takes Over Leasing Assignment for Energy Tower Office Building in Houston

by John Nelson June 15, 2020

HOUSTON — Poynter Commercial Properties Corp. has been appointed as the leasing agent for Energy Tower, a 14-story, 325,797-square-foot office building located at 11700 Katy Freeway in Houston’s Energy Corridor. Built in 1999, the property features a freestanding fitness center, 200-person conference facility, a new Peppercini’s restaurant, indoor and outdoor dining and an outdoor putting green. Kevin Poynter, principal of Poynter Commercial, was part of the original ownership that developed Energy Tower. Atlas Energy Tower LLC, an entity associated with Dallas-based ATCAP Partners LLC, owns Energy Tower and appointed Poynter Commercial. The firm also hired Cedar Ridge Services to manage the office tower.

June 15, 2020

Colorado Development Mixed-Use Office Retail Western

Confluent, Kelmore Top Out Exchange at Boulevard One Mixed-Use Project in Denver

by Amy Works June 15, 2020

DENVER — Confluent Development and Kelmore Development, the Denver-based co-owners and co-developers of the project, have topped out Exchange at Boulevard One. The 200,000-square-foot, mixed-use project is located in Boulevard One, a 70-acre parcel in Denver’s Lowry neighborhood. The developers broke ground in April 2019 and completion of the initial phase, totaling 135,000 square feet, is slated for spring 2021. Located at Lowry Boulevard and Quebec Street, the infill development will feature 500 parking spaces, including a 231-stall underground garage. The project focuses on multimodal accessibility with a mobility hub for bicycle and scooter parking, pedestrian connectivity, electric car charging stations and nearby transit lines with connections to light rail. Brinkman Construction is serving as general contractor for the project, which Open Studio Architecture designed. The Denver Urban Renewal Authority and Lowry Redevelopment Authority are supporting the development.

June 15, 2020

Features Industrial Office

Buoyed by Industrial Sector, Market Confidence Improves Slightly Overall Among SIOR Survey Participants

by John Nelson June 15, 2020

The Society of Industrial and Office Realtors (SIOR) has released its second edition of the monthly SIOR Snapshot Sentiment Survey, and overall the association’s industrial specialists felt better about their market’s outlook than their counterparts in the office sector. Patrick Sentner, president-elect of SIOR and executive vice president of CBRE’s Pittsburgh office, says that the growth of e-commerce and the grocery sector during the pandemic are helping boost confidence among industrial brokers. “Certain industrial market segments have seen business increase steadily during the pandemic,” says Sentner. “As such, there has been some solid movement in the industrial sector during the past three months.” The newly created survey provides a snapshot of the industry during a time when the COVID-19 outbreak has significantly impacted the industrial and office sectors. The monthly survey posed three questions to its members, of which around 500 answered for the May edition. The first question asked the progress of transactions currently taking place. The second question asked respondents to rank their level of confidence six months from now for their local markets. The final question let participants write open-ended responses relating to trends and market changes affecting the industrial and office real estate sectors. Overall market …

June 15, 2020

Georgia Leasing Activity Office Southeast

Marketing Firm Nebo Signs 16,000 SF Office Lease Within The MET in Atlanta’s Adair Park District

by Alex Tostado June 12, 2020

ATLANTA — Marketing firm Nebo has relocated its office headquarters to a 16,000-square-foot space within The MET Atlanta. The MET is a 1.1 million-square-foot space that features more than 150 tenants and is located at 680 Murphy Ave. in the city’s Adair Park neighborhood, two miles south of downtown Atlanta. Nebo, which was founded in 2004, moved into the new space June 1 on a 10-year lease. Nebo relocated from 1000 Marietta St., where it employed 100 workers. In the new space, Nebo expects to hire an additional 150 employees. The landlord, Atlanta-based Carter, acquired The MET in June 2018.

June 12, 2020

Acquisitions New Jersey Northeast Office

NKF Arranges Sale of 95,111 SF Office Building in Warren, New Jersey

by Taylor Williams June 12, 2020

WARREN, N.J. — Newmark Knight Frank has arranged the sale of a 95,111-square-foot office building in Warren, a southwestern suburb of New York City. The Class B property was constructed in 1987 and is located at 30 Technology Drive S. At the time of sale, the property was 92 percent leased to tenants in the medical, engineering and technology sectors. Kevin Welsh, Brian Schulz and Jason Emrani of NKF represented the seller, a joint venture partnership between Ivy Realty and Waterfall Asset Management. The team also procured the buyer, Mountain Development Corp. The sales price was undisclosed.

June 12, 2020

Loans Office Texas

Bank OZK Provides $26.6M Construction Loan for East Austin Office Project

by Taylor Williams June 12, 2020

AUSTIN, TEXAS — Regional lender Bank OZK has provided a $26.6 million construction loan for a 91,635-square-foot office project that will be located at 4713 E. Cesar Chavez St. in one of East Austin’s opportunity zones. The five-story, Class A building will include ground-floor retail space and a 269-space parking structure. De’On Collins, Chris McColpin, Jayme Nelson and Alastair Barnes of JLL placed the loan on behalf of the borrower, a partnership between HN Capital Partners and Austin-based Red Bluff Partners. The developer plans to construct a boutique hotel as part of the second phase.

June 12, 2020

Loans Office Texas

NorthMarq Arranges Loan for Refinancing of 18,000 SF Office Property in Houston

by Taylor Williams June 12, 2020

HOUSTON — NorthMarq has arranged a loan of an undisclosed amount for the refinancing of an 18,000-square-foot office building located at 3322 Richmond Ave. in Houston’s Greenway Plaza submarket. Matthew Bronstein of NorthMarq arranged the funds through an undisclosed life insurance company on behalf of the borrower, M-K-L Properties.

June 12, 2020

Development Illinois Midwest Office Top Stories

Trammell Crow Plans to Develop 423,454 SF Fulton Labs Life Science Facility in Chicago

by Alex Patton June 12, 2020

CHICAGO — Trammell Crow Co. (TCC), a Texas-based developer, has unveiled plans for Fulton Labs, a 423,454-square-foot life science facility in the Fulton Market neighborhood of Chicago. Located at 400 N. Aberdeen St., Fulton Labs will span 16 floors, with 12 floors of wet or dry lab space, dependent on the tenant’s needs. The lab space will be equipped for drug, chemical and biological testing as well as digital research and analysis. The facility’s 34,000-square-foot, column-free floor plates will be able to accommodate small startups as well as multi-floor tenants. The building will also feature passenger and freight elevators, as well as chemical and equipment storage space for tenants. “With Fulton Labs’ advanced research and development infrastructure, flexible lab spaces, and full floor launchpad for early stage companies, we are confident that this facility will help to promote growth in the Midwest’s life science industry,” says Grady Hamilton, managing director of TCC’s Midwest Business Unit. The building will feature 35,000 square feet of amenity space, which will include a health and wellness center, a 190-person collaboration center, a rooftop fire lounge and two private balconies per floor. The property will offer access to interstates 90, 94 and 290, as well …

June 12, 2020

California Development Loans Office Western

JLL Arranges $33.8M Construction Financing for Spec Office Development in Bay Area

by Amy Works June 11, 2020

BURLINGAME, CALIF. — JLL Capital Markets has secured $33.8 million in construction financing for the development of 250 California, a speculative office building in Burlingame. Jordan Angel and Chris Gandy of JLL represented the borrower, Dewey Land Co. and Divco West, to capitalize the project through a joint venture partnership. Slated for completion in 2022, the 44,605-square-foot project will feature four stories of office space, ground-floor retail space and a three-level subterranean parking facility. The transit-oriented property is situated in downtown Burlingame immediately adjacent to the Burlingame Caltrain station, near Highway 101 and state routes 82 and 92.

June 11, 2020

Acquisitions New Jersey Northeast Office

CBRE Arranges $26.2M Sale of Office Campus in East Windsor, New Jersey

by Alex Patton June 11, 2020

EAST WINDSOR, N.J. — CBRE has arranged the $26.2 million sale of Windsor Corporate Center, a 291,5550-square-foot office campus in East Windsor, a northeastern suburb of Trenton. Located at 50 Millstone Road, the four-building campus is situated on 39 acres and was approximately 65 percent leased at the time of sale. The property offers convenient access to the New Jersey Turnpike, Interstate 295 and the Princeton Junction train station. Amenities include a full-service cafeteria, auditorium and a fitness center. Jeffrey Dunne, Jeremy Neuer and Steven Bardsley of CBRE represented the seller, Raith Capital Partners, in the transaction. The team also procured the buyer, Strategic Funding Alternatives LLC.

June 11, 2020

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