Office

LPC West Sells Flex R&D Building in San Diego’s Sorrento Mesa for $17M

by Amy Works June 16, 2020

SAN DIEGO — LPC West, the West Coast operating division of Lincoln Property Co., has completed the sale of a two-story, flex R&D property located at 9877 Waples St. in San Diego’s Sorrento Mesa submarket. An affiliate of Alexandria Real Estate Equities acquired the building for $17 million in an off-market transaction. The 62,392-square-foot asset is mid-way through the seller’s biotech conversion process, which the buyer will complete. Andy Hugget, Bill Dolan and Sean Williams of CBRE represented LPC West, while Alexandria was self-represented in the transaction.

June 16, 2020

Leasing Activity Office Texas

Bright Realty Signs Three Tenants at Offices at The Realm in Lewisville Totaling 79,000 SF

by John Nelson June 15, 2020

LEWISVILLE, TEXAS — Bright Realty has added three new office tenants to join the tenant roster at Offices at The Realm, a 251,000-square-foot office building in Lewisville. The new leases total 79,000 square feet and bring the property to 80 percent occupancy. Global Medical Response, a medical transport company that sent more than 1,500 employees to New York and New Jersey to aid in the COVID-19 pandemic, is leasing two full floors at Offices at the Realm. The company’s offices will consolidate existing regional offices in the metroplex and also feature a 24/7 disaster relief call center. Worthey Wiles, Jake Young and Dalton Stogner of Lincoln Property Co. (LPC) represented Bright Realty in the 60,000-square-foot lease transaction. Kevin Mechelke, John Ruskin, Greg Biggs and Jeremy McGown of JLL represented Global Medical Response. The other two leases include tax software firm CSC Corptax leasing 15,000 square feet and Texas VA Mortgage leasing 4,000 square feet. LPC represented Bright Realty in both lease deals. Cushman & Wakefield represented CSC Corptax and Swearingen Realty Group represented Texas VA Mortgage. Other tenants at Offices at The Realm include the recently opened Venture X coworking space and El Patio, a Tex-Mex restaurant that will open …

June 15, 2020

District of Columbia Leasing Activity Office Southeast

Law Firm Wiley Rein Inks 166,000 SF Lease at New Office Tower in D.C.

by Alex Tostado June 15, 2020

WASHINGTON, D.C. — Law firm Wiley Rein LLP has signed a 166,000-square-foot office lease for its new headquarters at 2050 M St. in Washington, D.C. The law firm will occupy the third through seventh floors of the 11-story, 340,000-square-foot building, which is now 81 percent leased. The owner of the property, Tishman Speyer, delivered the asset earlier this year. The office space is part of the larger CBS Washington, D.C. bureau. As part of the development process, new CBS studios were constructed with a separate entrance. The building is located less than one mile from downtown D.C. and Dupont Circle. Lou Christopher, Jordan Brainard, Tim Dempsey and Greg Maurer-Hollaender of CBRE represented the tenant in the negotiation.

June 15, 2020

Leasing Activity Office Texas

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

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