Office

With several states reopening in the midst of the COVID-19 outbreak, JBG Smith has released its “Healthy Workplace Blueprint,” a new design for the company’s offices as tenants return to work. The Healthy Workplace Blueprint focuses on health and safety measures related to cleaning and sanitation, indoor air quality, social distancing and tenant communications. JBG Smith, which owns and operates several properties in and around Washington, D.C., has been working with federal, state and local health authorities to design this blueprint. Upon arrival at a JBG Smith-owned office building, employees can expect to see doors for entrances and exits clearly marked, a two-person maximum for elevator cabs, decals on the floors of the elevators for where they should stand, staircases labeled whether they are for ascending or descending, and signage throughout the lobby reminding people to stay six feet apart. “The health and well-being of our tenants, employees, vendors and building visitors has been one of JBG Smith’s top priorities,” says Matt Kelly, CEO of JBG Smith. “Our goal in producing and publishing Healthy Workplace Blueprint is to create an even safer environment, ensure that all stakeholders are informed about what we are doing from an operational standpoint, and educate …

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WORCESTER, MASS. — Chinese biomanufacturing company WuXi Biologics will develop a $60 million office project in Worcester, approximately 45 miles west of Boston. The 107,000-square-foot building will anchor a 46-acre master-planned biomanufacturing campus called The Reactory, a 470,000-square-foot redevelopment of a site formerly occupied by Worcester State Hospital.  Worcester Business Development Corp. (WBDC) sold the 7-acre parcel of land to WuXi for $1.5 million. Brian Cohen, Chris McCauley and Colin Coughlin of CBRE represented WuXi Biologics in the transaction. Jim Umphrey and Drew Higgins represented WBDC. WuXi expects the facility to be operable in 2020.

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NEW YORK CITY — Cushman & Wakefield has negotiated a 7,263-square-foot office lease for portfolio management firm Axium Infrastructure Inc. in the Plaza District of Manhattan. Axium leased the entire 21st floor of 527 Madison Avenue, an approximately 240,000-square-foot office building. The 26-story building was constructed in 1986. Jim Frederick and Gordon Hough of Cushman & Wakefield represented the landlord, Mitsui Fudosan America Inc., in the lease negotiations. CBRE represented Axium.

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ELKRIDGE, MD. — Merritt Properties has acquired The Lyndwood Executive Center, a two-building, 165,000-square-foot office campus in Elkridge. BentallGreenOak’s U.S. Core Fund sold the buildings for an undisclosed amount. The assets were 98 percent leased at the time of sale to 14 tenants. The Lyndwood Executive Center is located at 6085-6095 Marshalee Drive, 14 miles southwest of downtown Baltimore. Jonathan Carpenter and Graham Savage of Cushman & Wakefield represented the seller in the transaction.

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RESTON, VA. — Phillips Realty Capital has arranged a $29 million acquisition loan for Reston Metro Center One, a 124,076-square-foot office building in Reston. The property is located at 12120 Sunrise Valley Drive, which is within walking distance of the planned Reston Town Center Silver Line Metrorail Station and 22 miles west of downtown Washington, D.C. The asset was built in 2000 and its amenities include a lounge area and a fitness center. The building was vacant at the time of sale. Malcolm Shaw, Steve Shaw, Harmon Handorf and Bill Wrench of Phillips Realty arranged the loan on behalf of the borrower, HighBrook Investors. Rubenstein Mortgage Capital, the debt investment platform of Rubenstein Partners LP, provided the floating-rate loan. The seller was not disclosed.

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COVINA, CALIF. — Southern California-based IRA Capital has purchased a medical office building located in Covina for an undisclosed price. The name of the seller was not released. Magan Medical occupies the 64,000-square-foot property, which houses more than 50 physician providers across 20 specialties, including oncology, neurology, dermatology, radiology and cardiology. OptumCare, a wholly owned subsidiary of UnitedHealthcare, recently acquired the tenant. As part of the integration into the OptumCare/UnitedHealth network, the building underwent extensive renovation and capital improvements.

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TUCSON, ARIZ. — Visionary Holdings has acquired an office space located at 7470 N. Oracle Road, Suite 100, within Oracle-Ina Professional Plaza in Tucson, for $2.8 million. The condominium features 14,000 square feet of Class A medical and professional office space. Richard Kleiner and Thomas Nieman of Cushman & Wakefield | PICOR represented the seller, 7470 N Oracle Rd LLC, while Andrew Sternberg of NAI Horizon, Tucson, represented the buyer in the deal.

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CHICAGO — Parkside Realty is addressing employee health, safety and wellness at Fulton East, a new 12-story, 90,000-square-foot office building nearing completion in Chicago’s Fulton Market. Slated to open this summer, the building features wellness technology such as a hands-free elevator system that utilizes foot-activated buttons to help reduce the spread of germs. In addition, Fulton East will utilize airPHX, which is currently used in hospitals and college athletic facilities and helps reduce bacteria and mold both on surfaces and in the air. Fulton East will have touch-free key fob access and touch-free sinks in bathrooms. Floor plates are designed for single-tenant use and each floor has its own private balcony. An 8,000-square-foot rooftop garden park will be available for exclusive use of building occupants. Clayco is the design-builder and Lamar Johnson Collaborative is the architect. Interior designer Holly Hunt designed the lobby.

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CHICAGO — Boutique fitness concept Studio Three has signed a 10,000-square-foot lease at 333 N. Green, a new office building in Chicago’s Fulton Market. Studio Three, which offers cycling, yoga and interval classes, is slated to open in the first quarter of 2021. The Chicago-based business currently operates two studios in Lincoln Park and River North. Sterling Bay owns the 555,000-square-foot 333 N. Green, which opened in December and is now 87 percent leased. Sterling Bay plans to move its corporate headquarters to the 19-story building this summer.

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CRANFORD, N.J. — Newmark Knight Frank (NKF) has negotiated a 35,000-square-foot office lease for the new headquarters of law firm Lerner David in Cranford, a western suburb of New York City. Located at 20 Commerce Drive, the building features a cafeteria, conference centers and direct access to the Garden State Parkway. Lerner David moved its operations from Westfield, New Jersey, where it had operated for nearly all of its 50-year history. Architecture firm Kimmerle Group designed the office build-out for Lerner David. David Simpson of Newmark Knight Frank represented the firm in the lease negotiations. Signature Acquisitions is the owner of 20 Commerce Drive.

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