Office

Parkside Realty Implements ‘Health-Focused Operating Solutions’ at Office Building in Chicago’s Fulton Market

by Kristin Harlow June 1, 2020

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.

June 1, 2020

Illinois Leasing Activity Midwest Office Retail

Fitness Concept Studio Three to Occupy 10,000 SF at Chicago Office Building

by Kristin Harlow June 1, 2020

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.

June 1, 2020

Leasing Activity New Jersey Northeast Office

NKF Negotiates 35,000 SF Office Headquarters Lease in Cranford, New Jersey

by Alex Patton May 29, 2020

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.

May 29, 2020

Leasing Activity New York Northeast Office

PhotoShelter Signs 23,300 SF Office Headquarters Lease in Manhattan’s Financial District

by Alex Patton May 29, 2020

NEW YORK CITY — PhotoShelter, a photography and videography support service, has signed a 23,300-square-foot office lease for its new headquarters in Manhattan’s Financial District. The space is located on the 19th floor of 111 Broadway, a 22-story, Class A office building constructed in 1905. Amenities include a fitness center, indoor swimming pool and outdoor lounge. The 484,901-square-foot building and its neighboring tower at 115 Broadway are collectively known as Trinity Centre. Montroy DeMarco Architecture LLP designed PhotoShelter’s office build-out. Capital Properties own the building. CBRE is the building’s leasing agent.

May 29, 2020

Development Florida Office Southeast

DIX Developments to Construct $9M Office Campus in Northeast Orlando

by Alex Tostado May 29, 2020

ORLANDO, FLA. — DIX Developments LLC will construct University Econ Executive Center, a planned $9 million office campus in Orlando. The property will offer 1,520-square-foot office condos, a 4,640-square-foot medical office building and a 20,000-square-foot spec office building. John Kurtz of Stirling International Real Estate is handling the leasing efforts on behalf of the developer and will target users seeking headquarters space. DIX Developments has nearly completed two of the office condos and is making preparations to break ground on the spec office building. A timeline for completion was not disclosed. The property is located at the corner of Econlockhatchee Trail and University Boulevard, four miles west of the University of Central Florida and 11 miles northeast of downtown Orlando.

May 29, 2020

Acquisitions California Office Western

Omninet Capital Acquires Two Office Campuses in Metro Los Angeles for $78M

by Amy Works May 29, 2020

TORRANCE AND COMMERCE, CALIF. — Omninet Capital has purchased two office parks in the metro Los Angeles area for a combined total of $78 million in separate transactions. The buyer was self-represented in both transactions. In the first transaction, TA Associates sold Park Del Amo, a three-building office park located at 2355 and 2377 Crenshaw Blvd. in Torrance, for $39 million. Built in 1985 on 12.8 acres, Park Del Amo features 204,468 square feet of office space. At the time of sale, the campus was 92 percent leased to multiple tenants, including Keenan & Associates, which occupies 43 percent of the property and recently signed a five-year lease extension. Kevin Shannon, Ken White and Michael Moore of Newmark Knight Frank’s (NKF) Capital Markets team represented the seller in the deal. In the second deal, Omninet acquired Commerce Plaza, a two-building office complex located at 5601 E. Slauson Ave. and 5701 S. Eastern Ave. in Commerce. Colony Capital sold the offce campus for $39 million. At the time of sale, 13 tenants including Waste Management, County of Los Angeles and DaVita Medical Management occupied the 194,908-square-foot asset. The County of Los Angeles plans to lease an additional 51,555 square feet, which …

May 29, 2020

Acquisitions Arizona Office Western

Valwood Mesquite Purchases Mesquite Corporate Center in Scottsdale for $19.5M

by Amy Works May 29, 2020

SCOTTSDALE, ARIZ. — Valwood Mesquite LLC has acquired Mesquite Corporate Center, a two-story office building located at 14646 N. Kierland Blvd. in Scottsdale. An undisclosed seller sold the asset for $19.5 million, or $244.80 per square foot. Totaling 79,537 square feet, Mesquite Corporate Center overlooks the Westin Kierland Golf Club and is within walking distance to multiple restaurants and retail amenities at Kierland Commons. The Ron Schooler and Ken Elmer Team of Commercial Properties Inc./CORFAC International represented the buyer in the transaction.

May 29, 2020

Illinois Midwest Office

Cushman & Wakefield Study: Office Employees Seek ‘Flexible Working Policies’

by Kristin Harlow May 29, 2020

CHICAGO — Cushman & Wakefield has conducted a global survey of more than 40,000 individuals to shed light on work-from-home experiences during the COVID-19 pandemic, including how employees are coping and what the new normal will look like as offices reopen. Survey respondents represent approximately 30 companies across nearly 20 industries. Results show that productivity generally remains strong and team collaboration has reached new heights through better leverage of remote technology, says Cushman & Wakefield. Three-quarters of respondents agreed or strongly agreed that they are collaborating effectively with colleagues in the current environment, up 10 percent from data gathered before COVID-19. In addition, 73 percent of respondents indicated they would like their companies to embrace long-term or permanent flexible working policies. “It’s imperative to recognize that the workplace will no longer be a single location, but an ecosystem of a variety of locations and experiences to support flexibility, functionality and employee well-being,” says Brett White, executive chairman and CEO. “That said, we expect current real estate footprint sizes to remain steady. Flexible working practices may result in fewer people in the office at any one time, but that space savings is offset by the need to accommodate social distancing in …

May 29, 2020

Acquisitions California Development Healthcare Office Top Stories Western

City of Hope Acquires Development Site in California, Plans $1B Cancer Center Project

by Alex Patton May 28, 2020

IRVINE, CALIF. — City of Hope has acquired a 190,000-square-foot, four-story building and 11 acres of adjacent land in Irvine, located approximately 40 miles southeast of Los Angeles, for $108 million. The acquisition was part of the Duarte, California-based nonprofit medical organization’s plan to construct a $1 billion comprehensive cancer center on the site. Located at 15161 Alton Parkway, the project will offer diagnostic imaging, screenings, precision medicine, early detection, chemotherapy, surgery and other cancer treatments. In addition, a research center for clinical trials will be located in the building. The adjacent hospital, which City of Hope plans to construct, will focus exclusively on treating and curing cancer. The seller was Five Point Holdings LLC (NYSE: FPH), a California-based owner and developer of master-planned, mixed-use communities. The property is part of Five Point’s 1 million-square-foot FivePoint Gateway corporate campus currently under development in Orange County. In addition to office space, the four-building campus will offer access to retail, entertainment venues, restaurants and the Irvine Transportation Center. The cancer center and hospital will anchor what FivePoint and City of Hope believe will one day become a regional hub for a larger wellness campus in the heart of Irvine. “We are ‘all …

May 28, 2020

Leasing Activity New York Northeast Office

Hickory Lane Capital Management Signs 2,100 SF Office Lease in Manhattan

by Alex Patton May 28, 2020

NEW YORK CITY — Hickory Lane Capital Management has signed a 2,100-square-foot office lease for its new headquarters in Manhattan’s Garment District. The firm signed a three-year lease for space on the seventh floor of an office building located at 530 Seventh Ave. The building features a 30,000-square-foot co-working space, which serves as an amenity to all tenants and offers additional office spaces and conference rooms. Brian Neugeboren, Nicole Goetz and Alicia Parente of Savitt Partners represented the undisclosed landlord. Christina Combias of Voro Real Estate represented Hickory Lane.

May 28, 2020

Newer Posts

Older Posts