SEATTLE — Newmark Knight Frank (NKF) has arranged the sale of First and Stewart, a creative office property located at 101 Steward St. in Seattle’s central business district. L&B Realty Advisors sold the asset to DWS, formerly known as RREEF, for $59.2 million, according to public records reported by The Registry. Situated at the convergence of the Pike Place Market, Belltown, Retail Core and central district, the building features 94,333 square feet of Class A creative office space. Nick Kucha, Michael Moll, James Childress, Jesse Ottele and Tim O’Keffe of NKF represented the seller, while the buyer was self-represented in the deal.
FREMONT, CALIF. — Dermody Properties has purchased a flex property, located at 44370 Christy St. in Fremont. The name of the seller and acquisition price were not released. The 88,246-square-foot asset features 26,473 square feet of office space, 20-foot clear heights, four dock-high doors, two drive-in doors, 277 auto parking spaces and an ESFR fire protection system. Will Connors, Daniel Renz, Erik Doyle, Greg Matter, Eddie Shuai and Rich Branning of JLL represented the seller in the transaction.
NEW YORK CITY — Lee & Associates has negotiated a 5,600-square-foot retail lease for restaurant group Quality Branded on the ground floor of 2 Bank Street in Manhattan. Quality Branded owns and manages the Quality Meats, Quality Eats and Quality Italian Steakhouse restaurants. Brad Schwarz and James Ficelman of Lee & Associates represented the landlord in the lease negotiations. Taryn Brandes of Brand Urban represented Quality Branded.
HOUSTON — Stonelake Capital Partners, a private equity firm with offices in Dallas, Houston and Austin, has topped out 200 Park Place, a 210,000-square-foot office building located within the Park Place | River Oaks development in Houston. Designed by Beck Architecture and constructed by Harvey Builders, the 15-story building will feature ground-floor restaurants, a conference center and tenant lounge and access to a landscaped terrace and park. The property, which is 30 percent preleased, is expected to be available for occupancy by June 2020.
IRVING, TEXAS — Connecticut-based IT consulting firm Gartner Inc. has signed a 54,920-square-foot office lease expansion at Las Colinas Connection 1 in Irving. According to LoopNet Inc., the property was built in 1999 and spans 231,681 square feet. Randy Cooper, Matt Heidelbaugh, Amber Roberts, Lou D’Avanzo and Andy May of Cushman & Wakefield represented the tenant in the lease negotiations. Sarah Hinkley of Thirty-Four Commercial and Joel Pustmueller of JLL represented the landlord, Piedmont Office Realty Trust.
NEW YORK CITY — Barclays has provided Shorenstein Properties LLC with a $350 million loan to refinance the leasehold position in 1407 Broadway, a 43-story, 1.1 million-square-foot office tower near Times Square in New York City. The five-year loan features a floating interest rate. Solil Management, the company that manages the assets of late real estate mogul Sol Goldman, owns the land upon which 1407 Broadway is situated. The building is located at 1407 Broadway between 38th and 39th streets, two blocks from Times Square, one block from Bryant Park and six blocks from Hudson Yards. Shorenstein acquired the property’s ground lease from Abraham Kamber Associates and the sublease from Lightstone Group in April 2015 for $330 million. Shorenstein then implemented a three-year, $62 million renovation to improve the lobby, common areas, security, roof, terrace and elevator cabs. The building also underwent a retail renovation, adding new storefronts and signing tenants such as Num Pang, Luke’s Lobster and ’Wichcraft, a sandwich shop. The retail portion of the building is 95 percent leased. Over the past 12 months, 160,000 square feet have been leased throughout the building. Geoff Goldstein of JLL, which arranged the loan, says Shorenstein moved forward with this …
NEW YORK CITY — Brookfield Properties has opened One Manhattan West, a 2.1 million-square-foot office high-rise tower in Midtown Manhattan. The 67-story, Class A building is part of the Manhattan West mixed-use development that will include 6 million square feet of office space when construction is complete. The development will also include an 844-unit apartment building that will be branded The Eugene and a Pendry Manhattan West hotel. One Manhattan West was approximately 90 percent leased when it opened, with a tenant roster including the National Hockey League, as well as law firms McKool Smith and Skadden Arps, Slate, Meagher & Flom LLP. The next phase of construction, Two Manhattan West, is slated for completion in 2022. Skidmore, Owings & Merrill served as the architect of One Manhattan West, and AECOM Tishman was the general contractor.
AUSTIN, TEXAS — San Francisco-based investment firm Drawbridge Realty has sold a fully repositioned corporate office campus located at 3100 Alvin Devane Blvd. in Austin for $18.5 million. Drawbridge originally acquired the two-building property, formerly known as Sierra Technology Center, in 2012 via a joint venture with Austin-based HPI. The redevelopment plan upgraded the office lobby, common areas, roof, mechanical systems and parking areas, as well as interior tenant spaces. Todd Mills, Carrie Caesar and Hunter Mills of Cushman & Wakefield brokered the deal on behalf of Drawbridge. The buyer was not disclosed.
PLANO, TEXAS — Cushman & Wakefield has negotiated a 24,000-square-foot office lease in Plano for Samsung SDS, a division of the South Korean tech giant that provides IT services. The tenant will occupy space at APEX, a 186,244-square-foot, Class A building located at 3033 George Bush Highway. Scott Hobbs, Kim Lyon and Ashley Tanton of Cushman & Wakefield represented Samsung SDS in its property search and lease negotiations. Duane Henley and Nathan Durham of Transwestern represented the property’s landlords, Champion Partners and Cross Harbor Capital.
YORK, PA. — Elephat Printing & Design LLC has signed a 3,024-square-foot office lease at 1285 West King Street in York, located approximately 25 miles south of Harrisburg. The property is part of a 47,954-square-foot office complex shared by tenants including York Roofing and Raymundo Drywall LLC. Nate Resh and David Bode of ROCK Commercial Real Estate, brokered the transaction.