Office

Bridgewater Bank Opens New Corporate Headquarters in St. Louis Park, Minnesota

by Kristin Harlow August 28, 2020

ST. LOUIS PARK, MINN. — Bridgewater Bank, a local Twin Cities bank, has opened its new corporate headquarters in St. Louis Park near Minneapolis. Known as Bridgewater Corporate Center, the development is located at the corner of Excelsior Boulevard and Monterey Drive. The four-story, 84,000-square-foot building includes a Bridgewater retail branch on the ground floor. Operations and administrative offices are located on the second and third floors. Other tenants include Hazelwood Food & Drink and boutique fitness studio Discover Strength, both of which will open to the public in early 2021. Ironmark Building Co., The Bainey Group, DJR Architecture and Momentum Design Group made up the project team.

August 28, 2020

Loans Michigan Midwest Office

Bernard Financial Group Arranges $5.6M Refinancing for Office Property in Farmington Hills, Michigan

by Kristin Harlow August 28, 2020

FARMINGTON HILLS, MICH. — Bernard Financial Group has arranged a $5.6 million loan for the refinancing of a 72,607-square-foot office property in Farmington Hills. Dennis Bernard and Joshua Bernard of Bernard Financial Group arranged the loan on behalf of the borrower, Duke & Duke LP. Securian Life Insurance Co. provided the loan.

August 28, 2020

Acquisitions Office Southeast Tennessee

Stan Johnson Co. Brokers $9.9M Sale of Office Building Leased to CVS in Knoxville

by Alex Tostado August 28, 2020

KNOXVILLE, TENN. — Stan Johnson Co. has brokered the $9.9 million sale of a 59,748-square-foot office building leased to CVS/pharmacy in Knoxville. CVS houses its call center at the property, which is situated at 2401 Cherahala Blvd., 17 miles west of downtown Knoxville. The Woonsocket, R.I.-based company has occupied the space since it was built in 2002. Jonathan Ameen and Jeff Hughes of Stan Johnson Co., along with John Adams III of Avison Young, represented the seller, New York-based Lexington Realty Trust. Concord Capital LLC, a group of investors based in Jackson, Miss., acquired the asset.

August 28, 2020

Development Office Texas

Howard Hughes to Renovate Lobby of 95,561 SF Office Building in The Woodlands

by Taylor Williams August 28, 2020

THE WOODLANDS, TEXAS — The Howard Hughes Corp. will renovate the lobby of 1400 Woodloch Forest, a 95,561-square-foot office building in The Woodlands, about 30 miles north of Houston. This renovation will extend the lobby to include a large vestibule leading to the southside parking area and to feature updated finish materials including ceramic tile flooring and walls with modern lighting and hard ceilings. It will also incorporate COVID-19 safety protocols such as a touchless digital directory. Gensler is the architect for the project, and Byrd Construction is the general contractor. Completion is scheduled for mid-October.

August 28, 2020

Leasing Activity Office Texas

HostGator Signs 38,582 SF Office Lease in Northwest Houston

by Taylor Williams August 28, 2020

HOUSTON — Web hosting firm HostGator has signed a 38,582-square-foot office lease at 5005 Mitchelldale St. in northwest Houston. According to LoopNet Inc., the property was built in 1981 and spans 75,900 square feet. Don Foster and Ed Prejean of JLL represented HostGator in the lease negotiations. Michelle Wogan and Paula Musa of Transwestern represented the landlord.

August 28, 2020

Leasing Activity Office Texas

Aviation Services Firm Signs 11,315 SF Office Lease in Irving

by Taylor Williams August 28, 2020

IRVING, TEXAS — G2 Secure Staff, which provides a range of services like cabin cleaning and customer support to the aviation industry, has signed a 11,315-square-foot office lease at Canal Centre, a 10-story office building located at 400 E. Las Colinas Blvd. in Irving. Lucas Kay, Garrett Gibbons Jr., Reggie Beavan III, Andy Iversen, Chris Mason, John Beach and Trace Elrod of Newmark Knight Frank represented the tenant in the lease negotiations. Sunwest Real Estate Group represented the landlord.

August 28, 2020

Acquisitions California Data Centers Industrial Office Western

CBRE Brokers $41.5M Sale of Two Industrial Ground Leases in San Diego’s Sorrento Mesa

by Amy Works August 28, 2020

SAN DIEGO — CBRE has arranged the sale of two ground leases covering three land parcels totaling 12.5 acres in San Diego’s Sorrento Mesa neighborhood. A private investor acquired the assets from San Francisco-based Stockbridge Capital Group for $41.5 million. Louay Alsadek, Hunter Rowe and Madison Mawby of CBRE represented the seller, while Bob Safai of Madison Properties represented the buyer in the transaction. Totaling 76,000-square-feet, the first parcel is under South Rim Business Park, a three-building flex office campus located at 5744, 5754 and 5764 Pacific Center Blvd. The second parcel is under two data center buildings totaling 115,000 square feet located at 5732 and 5738 Pacific Center Blvd., while the third parcel is a 0.85-acre open space adjacent to the two other properties.

August 28, 2020

Acquisitions North Carolina Office Southeast

CBRE Negotiates Sale of 110,101 SF Office Portfolio in Winston-Salem

by Alex Tostado August 27, 2020

WINSTON-SALEM, N.C. — CBRE has negotiated the sale of the Novant Healthcare portfolio, a two-building office portfolio totaling 110,101 square feet in Winston-Salem. The portfolio was fully leased at the time of sale to Novant Health and serve as offices for billing, human resources and IT operations for the locally based healthcare system. The two buildings are situated at 480 W. Hanes Mill Road, seven miles north of downtown Winston-Salem, and 4020 Kilpatrick St., six miles west of downtown Winston-Salem. Lee Asher, Chris Bodnar, Jordan Selbiger, Ryan Lindsley, Sabrina Solomiany, Patrick Gildea, Greg Wilson, Matt Smith and Grayson Hawkins of CBRE represented the seller, RiverOak Investment Corp., in the transaction. Raleigh-based Nova Capital acquired the assets for an undisclosed price.

August 27, 2020

Florida Loans Office Southeast

Concord Summit Capital Arranges $38.3M Refinancing of Office Building in Fort Lauderdale

by Alex Tostado August 27, 2020

FORT LAUDERDALE, FLA. — Concord Summit Capital LLC has arranged a $38.3 million refinancing loan for the Offices at Plantation Walk, a 172,959-square-foot office building in Fort Lauderdale. The owner and borrower, Encore Capital Management, recently implemented a $15 million renovation at the property, which is situated at 261 N. University Drive within Plantation Walk, a 27-acre mixed-use development. Kevin O’Grady of Concord Summit Capital originated the loan on behalf of the Boca Raton, Fla.-based owner. New York Life Insurance Co. provided the loan.

August 27, 2020

Leasing Activity New York Northeast Office

FTI Consulting Signs 120,720 SF Office Lease at 1166 Avenue of the Americas in Manhattan

by Taylor Williams August 27, 2020

NEW YORK CITY — FTI Consulting Inc., a publicly traded global advisory firm, has signed a 120,720-square-foot office lease at 1166 Avenue of the Americas in Manhattan. The company will occupy the 14th, 15th and 16th floors of the 1.6 million-square-foot building as its New York City headquarters. Paul Glickman, Jonathan Fanuzzi, Cynthia Wasserberger, Diana Biasotti and Jeffrey Sussman of JLL represented the landlord, Edward J. Minskoff Equities Inc., in the lease negotiations. Connor Faught, Brian Given, Sheena Gohil, Robert Gallucci and Jim Southard of Colliers International, along with in-house representatives Daniel Johnson and Chuck Cerria Jr., represented FTI Consulting. Trevor Adler and Ida Phair of law firm Stroock & Stroock & Lavan LLP advised the property owner in the transaction. Bruce Saber, Genta Stafaj and Samuel Grubner of DLA Piper LLP provided legal counsel to the tenant.

August 27, 2020

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