Thursday, June 19, 2025
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Element-Towers-Dallas
DevelopmentOfficeTexas

Stanton Road Capital Completes Renovation of 672,942 SF Office Complex in North Dallas

by Taylor Williams

DALLAS — California-based investment firm Stanton Road Capital has completed the renovation of Element Towers, a two-building, 672,942-square-foot office complex located off I-635 in North Dallas. The project team upgraded and redesigned the lobbies of both buildings, which also now feature fitness centers with private showers and lockers, fully furnished conference/training facilities and onsite food services. Additional enhancements include updated outdoor communal and recreation areas. ENTOS Design provided architecture and design services while Arco/Murray handled construction. Stanton Road Capital has tapped Holt Lunsford Commercial to lease Element Towers post-renovation.

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Leasing ActivityOfficeTexas

TMEIC Signs 39,698 SF Office Headquarters Lease in Houston’s Energy Corridor

by Taylor Williams

HOUSTON — TMEIC, a joint venture between Toshiba and Mitsubishi Electric, has signed a 39,698-square-foot office headquarters lease in Houston’s Energy Corridor area. The Japanese manufacturer of electrical and automation systems for industrial plants is relocating its U.S. headquarters from Virginia to the 14-story, 350,000-square-foot Eldridge Oaks building. Brad Fricks and Matt Asvestas of Stream Realty Partners represented the landlord, an affiliate of Los Angeles-based Broadshore Capital Partners, which recently renovated the building, in the lease negotiations. Weldon Martin and Matthew Seliger, also with Stream, represented TMEIC.

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FloridaLoansOfficeSoutheast

JLL Arranges $68.2M Refinancing for Royal Palm Office Complex in South Florida

by John Nelson

PLANTATION, FLA. — JLL has arranged a $68.2 million loan for the refinancing of Royal Palm I and II, a two-building office complex totaling more than 460,000 square feet in Plantation, a city in South Florida’s Broward County. Paul Stasaitis and Maddy McMillen of JLL arranged the fixed-rate loan through Barclays on behalf of the borrower, Dallas-based Lincoln Property Co. Constructed between 2001 and 2007, Royal Palm consists of two towers standing eight and nine stories tall and a four-level, 1,927-space parking garage. The 25.4-acre campus was recently renovated and includes an amenity package comprising modern conference rooms, a full fitness center, a wellness room and other tenant services.

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AcquisitionsOfficeRetailSoutheastVirginia

Girl Scouts of Virginia Acquires Flex Building in Richmond for $3.6M

by John Nelson

RICHMOND, VA. — Girl Scout Commonwealth Council of Virginia Inc. has purchased an 18,375-square-foot flex building located at 3214 Skipwith Road in Richmond. The former tenant, Self-Help Credit Union, sold the commercial building for $3.6 million. Will McGoogan of Cushman & Wakefield | Thalhimer represented the seller in the transaction, and Amy Broderick and Kate Hosko, also with Thalhimer, represented the buyer. The Girl Scouts plan to move its current offices and retail center from nearby Willow Lawn to the new location. The organization plans to use the space as a storefront and install its administrative offices. The space will also feature collaborative areas for local Girl Scouts troops to have meetings.

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FloridaLeasing ActivityOfficeSoutheast

CP Group Executes 30,000 SF of Office Leases at The Landing at MIA in West Miami

by John Nelson

MIAMI — CP Group has executed nearly 30,000 square feet of leasing agreements at The Landing at MIA, a 1.1 million-square-foot office campus in west Miami. The 11-building complex is situated on 50 acres directly adjacent to Miami International Airport. Gordon Messinger and Randy Carballo of CBRE represented CP Group in all eight lease transactions. The deals include Butler, Buckley, Deets Inc. (new 5,886-square-foot lease); CVS Health (5,716-square-foot renewal); Trane Inc. (new 5,100-square-foot lease); Harding Retail (new 3,390-square-foot lease); Patagonia Sea Farms (expansion to 3,163 square feet); Nomi Health (new 2,641-square-foot lease); The Ashvins Group (new 1,460-square-foot lease); and FleetMasters (new 1,231-square-foot lease).

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4600-Norris-Canyon-Rd-San-Ramon-CA
AcquisitionsCaliforniaIndustrialOfficeWestern

Madison Marquette Divests of 96,535 SF Valent Innovation Center R&D Building in San Ramon, California

by Amy Works

SAN RAMON, CALIF. — Madison Marquette has completed the sale of Valent Innovation Center, a two-story R&D building in San Ramon. Orion Office REIT acquired the asset for an undisclosed price as the first acquisition under its new entity. Located at 4600 Norris Canyon Road, Valent Innovation Center offers 96,535 square feet of research and development space, which is fully leased to Valent USA, a wholly owned subsidiary of Sumitomo Chemical. The asset was most recently renovated in 2022. Adam Lasoff, Erik Hanson, Rob Hielscher, Caroline Reynolds and Quinn O’Connor of JLL Capital Market’s Investment Sales and Advisory represented the seller in the transaction.

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Leasing ActivityNortheastOfficePennsylvania

Arcfield Signs 36,000 SF Office Lease in Metro Philadelphia

by Taylor Williams

KING OF PRUSSIA, PA. — Defense contractor Arcfield has signed a 36,000-square-foot office lease in King of Prussia, a northern suburb of Philadelphia. The space spans the entire third floor and partial first floor at 1400 Morris Drive, a newly renovated building within the 1.1 million-square-foot Chesterbrook development. Doug Newbert, Mike MacCrory and Whitney Hunter of JLL represented the landlord, Rubenstein Partners, in the lease negotiations. John Shelly and Gina Brennan of Cushman & Wakefield represented Arcfield.

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GeorgiaLeasing ActivityLife SciencesOfficeSoutheast

Georgia Department of Agriculture Signs 11,129 SF Lease at New Life Sciences Tower in Atlanta

by John Nelson

ATLANTA — The Georgia Department of Agriculture (GDA), via the Georgia State Properties Commission, has signed an 11,129-square-foot lease at Science Square Labs in Atlanta. The 13-story, 368,258-square-foot life sciences building is an anchor of Georgia Tech’s Science Square innovation district, a mixed-use development that spans 18 acres near campus and will include retail space and The Grace Residences apartment tower. Trammell Crow Co. delivered Science Square Labs, the first speculative life sciences building in the city’s history, in April 2024. The GDA will occupy pre-built lab and office space on the building’s 11th floor. Eric Ross, Jessica Doyle and Graham Little of CBRE represented the landlord in the lease negotiations, while Erik Weiss and Kari Downing with Savills represented the tenant. The organization joins national life sciences incubator Portal Innovations, which leased 33,000 square feet at Science Square Labs this past summer.

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Leasing ActivityNew YorkNortheastOffice

Flexport Signs 14,073 SF Office Lease in Manhattan’s Penn District

by Taylor Williams

NEW YORK CITY — Flexport has signed a 14,073-square-foot office lease in Manhattan’s Penn District. The freight and logistics services provider is relocating from 50 W. 23rd St. to the 11th floor of 31 Penn Plaza, an 18-story building that recently underwent a repositioning. Christine Colley, Daniel Turkewitz, Thomas Swartz and Mitch Konsker of JLL represented the landlord, Vanbarton Group, in the lease negotiations. Joseph D’Apice of CBRE represented Flexport.

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Leasing ActivityMarylandOfficeSoutheast

KLNB Arranges 50,000 SF of Office Leases at Forbes Center in Lanham, Maryland

by John Nelson

LANHAM, MD. — KLNB has arranged more than 50,000 square feet of office leases at Forbes Center, a 17-building business park in Lanham, 13 miles northeast of Washington, D.C. The landlord, D.C.-based DSC Partners LLC, hired KLNB this summer to oversee leasing at Forbes Center. The brokerage firm opened an onsite leasing office at the property to help facilitate the process. The KLNB landlord advisory team for Forbes Center includes Ken Fellows, Robert Pugh, Keiry Martinez and Aaron Carroll. The tenants were not disclosed.

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