Office

Brookfield Properties Opens 2.1 MSF One Manhattan West Office Tower

by Alex Patton November 6, 2019

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.

November 6, 2019

Acquisitions Office Texas

Drawbridge Realty Sells Renovated Corporate Campus in Austin for $18.5M

by Taylor Williams November 6, 2019

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.

November 6, 2019

Leasing Activity Office Texas

Cushman & Wakefield Negotiates 24,000 SF Office Lease for Samsung SDS in Plano

by Taylor Williams November 6, 2019

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.

November 6, 2019

Leasing Activity Northeast Office Pennsylvania

Elephat Printing & Design Signs 3,024 SF Office Lease in York, Pennsylvania

by Alex Patton November 6, 2019

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.

November 6, 2019

Acquisitions North Carolina Office Southeast

TerraCap Buys Office Building in Charlotte for $24.8M

by Alex Tostado November 5, 2019

CHARLOTTE, N.C. — TerraCap Management LLC has bought Resource Square IV, a five-story, 152,000-square-foot office building in Charlotte, for $24.8 million. Resource Square office complex comprises five buildings totaling 337,611 square feet. TerraCap bought three of the buildings in August. The property is located near Interstates 85, 77 and 485, as well as Charlotte’s LYNX Light Rail Blue Line. The property offers a parking ratio of 4.5 per 1,000 square feet and features amenities such as a fitness center, conference room and an outdoor patio. Patrick Gildea of CBRE represented the seller, Rockford Capital Partners, in the transaction.

November 5, 2019

Development Office Texas

Worth & Associates Begins Leasing 83,713 SF Office Conversion Project in San Antonio

by Taylor Williams November 5, 2019

SAN ANTONIO — Locally based developer Worth & Associates has begun leasing Austin Highway Business Center, an 83,713-square-foot office conversion project situated on 10.5 acres in northeast San Antonio. Worth acquired the property, which formerly served as a data center for Frost Bank, in spring 2018 and upgraded its entrance, lobby, break room and outdoor recreational areas. Austin Highway Business Center, which is being marketed to call center and back-office users, also includes 162 covered parking spaces.

November 5, 2019

Leasing Activity Massachusetts Northeast Office

Newmark Knight Frank Negotiates 14,764 SF Office Lease in Lexington, Massachusetts

by Alex Patton November 5, 2019

LEXINGTON, MASS. — Newmark Knight Frank (NKF) has negotiated a 14,764-square-foot office lease for pharmaceutical company KabaFusion in Lexington, a northwestern suburb of Boston. The company is moving its headquarters from a 3,500-square-foot space in Waltham to 80 Hayden Avenue, a 43,208-square-foot, three-story office building primarily leased to life sciences tenants. Mark Roth, Matt Malatesta, Brendan Daly and Brianna Piacitelli of NKF represented the landlord, Marwick Associates, in the lease negotiations. Jack Whelan and Michael O’Leary represented KabaFusion.

November 5, 2019

Connecticut Leasing Activity Northeast Office

Keep America Beautiful Signs 8,500 SF Office Lease Renewal in Stamford, Connecticut

by Alex Patton November 5, 2019

STAMFORD, CONN. — Recycling and sustainability organization Keep America Beautiful has signed an 8,500-square-foot office lease renewal in Stamford, located approximately 35 miles northeast of New York City. As part of the renewal agreement, the landlord agreed to pay for interior renovations, including a kitchen and restroom remodel and enhancements to the lighting and HVAC systems at the property, which serves as the organization’s headquarters. John Hannigan and Adam Cognetta of Choyce Peterson Inc. represented Keep America Beautiful in the lease negotiations. Larry Kwiat of SL Green Realty Corp. represented the landlord on an internal basis.

November 5, 2019

Features Illinois Midwest Office

CBRE: Chicago Remains Most Green U.S. Office Market

by John Nelson November 5, 2019

LOS ANGELES — Chicago’s office market maintains its top status in the 2019 edition of CBRE’s Green Building Adoption Index, an annual report that measures the energy sustainability of the top 30 office markets in the United States. The index (GBAI) reviews the various office markets’ adoption of two green building certifications — the EPA’s Energy Star rating and the U.S. Green Building Council’s LEED certification. The GBAI is tracked in terms of both square footage and number of buildings. More than 167 million square feet of Chicago’s office space is certified green, or approximately 71.1 percent of the metro’s total office inventory (235 rentable million square feet). Coming in behind the City of Broad Shoulders is San Francisco (67.5 percent), Atlanta (59.3 percent), Minneapolis/St. Paul (57.1 percent) and Los Angeles (56.6 percent). Chicago is a growing and thriving office market. Tech firms such as Uber, Amazon and LinkedIn, as well as coworking concepts Spaces, Industrious and WeWork, have all taken down large swaths of office space in the metro area. According to third-quarter data from CBRE Research, more than 5 million square feet of office space is under construction in metro Chicago. “Going green is one key to any …

November 5, 2019

Acquisitions Florida Office Southeast

ShareMD Acquires Two Medical Office Buildings Near Miami for $33.2M

by Alex Tostado November 4, 2019

SOUTH MIAMI AND CORAL GABLES, FLA. — ShareMD has acquired a medical office building in South Miami and one in Coral Gables for $33.2 million. Located at 5966 S. Dixie Highway in South Miami, the first medical office building sold for $19.6 million. The facility spans 50,600 square feet and was 71 percent leased at the time of sale. The other property, The Biltmore Professional Building, is located at 475 Biltmore Way in Coral Gables and sold for $14.6 million. The Biltmore Professional Building comprises 56,000 square feet and was 83 percent leased at the time of sale. Elliot LaBreche of Easton & Associates represented ShareMD, a Southern California-based REIT, in the transaction and has been retained to handle leasing efforts. Miami investor and founder of Slon Capital, Leonard Boord, sold both buildings.

November 4, 2019

Newer Posts

Older Posts