Office

Skender Launches Interior Construction of 90,000 SF Mondelez Headquarters in Chicago

by Kristin Harlow October 3, 2019

CHICAGO — Skender has launched interior construction of the future 90,000-square-foot headquarters for Mondelez International in Chicago. The snacking company will serve as the anchor tenant in the new five-story building at 905 W. Fulton St. Mondelez is relocating 400 employees from its current headquarters in Deerfield. The headquarters expansion will also include Enjoy Life Foods, a snacking company based in Schiller Park that Mondelez acquired in 2015. Plans call for open office workstation areas, private offices, conference rooms, a large reception area, warming pantry, café and two staircases. Skender is collaborating with design firm HPA, design firm SCB and owner’s representative CBRE. Completion is slated for April 2020.

October 3, 2019

Loans Massachusetts Northeast Office

EagleBridge Secures $5.2M Acquisition Loan for Office Building in Marlborough, Massachusetts

by Alex Patton October 2, 2019

MARLBOROUGH, MASS. — EagleBridge Capital has secured a $5.2 million acquisition loan for 33 Locke Drive, a 61,177-square-foot office building in Marlborough, located approximately 25 miles west of Boston. A regional financial institution provided the loan for an undisclosed borrower to purchase the two-story office building. At the time of the loan closing, the property was 95 percent occupied by tenants including Astellas Institute for Regenerative Medicine and Communication Technology Services. Ted Sidel of EagleBridge secured the loan.

October 2, 2019

Acquisitions District of Columbia Office Southeast

Drawbridge Realty Purchases CoStar Group Headquarters Building in D.C. for $87M

by Alex Tostado October 2, 2019

WASHINGTON, D.C. — Drawbridge Realty has acquired 1331 L St., a 169,430-square-foot, 10-story office building in Washington, D.C., for $87 million. The building serves as the corporate headquarters for CoStar Group Inc., with approximately 850 employees on site. The building features a 2,940-square-foot roof terrace with views of downtown, a conference center with seating for 76 people and a 3,000-square-foot fitness center with showers and locker rooms. A three-level, below-grade parking garage offers 102 spaces with 12 electric vehicle charging stations. Built in 2008, 1331 L St. is located five blocks from The White House and two blocks from the McPherson Square Metro Station. Nicholas Pappas and Tim McDonald of Eastdil Secured represented the undisclosed seller in the transaction.

October 2, 2019

Acquisitions District of Columbia Office Southeast

JLL Negotiates $69.8M Sale of Office Building in D.C.

by Alex Tostado October 2, 2019

WASHINGTON, D.C. — JLL has negotiated the $69.8 million sale of 1120 G St., a 10-story, 134,964-square-foot office building located three blocks from The White House. The building was 75 percent leased at the time of sale to 13 tenants. Jim Meisel, Matt Nicholson, Andrew Weir, Stephen Conley and Dave Baker of JLL represented the undisclosed seller in the transaction. A fund sponsored by Global Real Estate of Credit Suisse Asset Management acquired the property.

October 2, 2019

Acquisitions Office Texas

JLL Secures Majority-Interest Sale of 200,000 SF Office Building in Houston

by Taylor Williams October 2, 2019

HOUSTON — JLL has arranged the majority-interest sale of CityCentre Five, a 200,000-square-foot office building in Houston. The Class A, 15-story property is one of five office buildings in the CityCentre portfolio and was more than 95 percent leased at the time of sale. On behalf of a client, Lionstone Investments purchased the stake, the exact percentage of which was not disclosed, from Midway Cos. Kevin McConn, Rudy Hubbard, Rick Goings and Michael Zietsman of JLL represented Midway in the transaction.

October 2, 2019

Leasing Activity Office Texas

J. Beard Negotiates 58,978 SF Office Lease in The Woodlands

by Taylor Williams October 2, 2019

THE WOODLANDS, TEXAS — The J. Beard Real Estate Co. has negotiated a 58,978-square-foot lease at Havenwood Office Park in The Woodlands, about 30 miles north of Houston. The tenant was not disclosed. Situated on Interstate 45 North between Woodlands Parkway and Sawdust Road, Havenwood Office Park features a LEED Silver-certified, four-story building offering approximately 250,000 square feet of Class A office space. Amenities include a fitness center, conference room and an outdoor plaza with seating area. Lisa Hughes of J. Beard represented the landlord, Havenwood Land Developments LP, in the lease negotiations.

October 2, 2019

Leasing Activity New York Northeast Office

WeWork Signs 362,197 SF Office Lease in Manhattan

by Alex Patton October 1, 2019

NEW YORK CITY — WeWork has leased a 362,197-square-foot office lease at 437 Madison Avenue in Manhattan. The company will move into floors two through 12, as well as a portion of the 14th floor, in January 2021. Other tenants at the 850,000-square-foot building include Citizens Bank, communications firm Kekst CNC and law firm Wiggin and Dana LLP. Frank Doyle, David Kleiner, Cynthia Wasserberger, Hayley Shoener and Harlan Webster of JLL represented the landlord, the William Kaufman Organization (WKO), in the lease negotiations. Michael Lenchner of Sage Realty Corp., the leasing and management division of WKO worked with JLL to represent the landlord. Peter Riguardi and Howard Hersch of JLL represented WeWork.

October 1, 2019

Acquisitions Florida Office Southeast

JLL Negotiates $31.5M Sale of Office Park in Jacksonville

by Alex Tostado October 1, 2019

JACKSONVILLE, FLA. — JLL has negotiated the $31.5 million sale of Midtown Centre, a 31-building office park totaling 750,156 square feet in Jacksonville. The property is located at 3947 Boulevard Centre Drive, two miles south of downtown Jacksonville. The buildings are spread across 48 acres and were 64 percent leased at the time of sale to local and national tenants, including multiple government and nonprofit agencies. Robbie McEwan, Manny de Zárraga and Hermen Rodriguez of JLL represented the seller, The Dubon Group, in the transaction. Nova Capital Partners LLC acquired the property.

October 1, 2019

Acquisitions Arizona Office Western

Griffin Capital Acquires McKesson III Office Building Near Phoenix for $37.7M

by Amy Works October 1, 2019

SCOTTSDALE, ARIZ. — Griffin Capital Essential Asset REIT has acquired McKesson III, a Class A office building located in Scottsdale. Ryan Cos. sold the asset for $37.7 million. McKesson Corp. occupies the 124,879-square-foot asset, which is situated on 11 acres at 5801 N. Pima Road, on a long-term basis. McKesson, a healthcare industry supplies and technology company, utilizes the facility as an expansion of its Scottsdale office campus. The project is subject to an 83-year leasehold interest in land owned by members of the Salt River Pima-Maricopa Indian Community. Ryan Cos., as general contractor and developer, completed the facility in June. Griffin Capital Essential Asset REIT purchased two adjacent buildings, also leased by McKesson, in April 2018 for $67 million. Team Toci of Cushman & Wakefield represented Ryan Cos. in the sale of McKesson III.

October 1, 2019

Indiana Leasing Activity Midwest Office

CBIZ Signs 53,000 SF Office Lease at Parkwood Crossing in Indianapolis

by Kristin Harlow October 1, 2019

INDIANAPOLIS — CBIZ Inc. has signed a 53,000-square-foot office lease at Parkwood Crossing in north Indianapolis. The professional and financial services company will occupy space at Eight Parkwood, a 204,126-square-foot building within the eight-building, 1.2 million-square-foot office park. Rubenstein Partners LP and Strategic Capital Partners LLC acquired Parkwood Crossing in 2016. The companies have invested approximately $20 million in improvements at the property, including a 14,000-square-foot amenity building that opened in 2018. Traci Kapsalis, Adam Broderick and Brittany Shuler of JLL, along with Gibraltrar Real Estate Services, handled the lease transaction on behalf of building ownership. Matt Waggoner of JLL represented the tenant.

October 1, 2019

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