Office

Left/Right Signs 34,000 SF Office Lease Renewal in Manhattan

by Alex Patton October 30, 2019

NEW YORK CITY — Television production company Left/Right has signed a 34,000-square-foot office lease renewal at 39 West 19th Street in the Chelsea neighborhood of Manhattan. The company will continue to occupy the 7th, 9th and 10th floors of the 12-story, 131,054-square-foot office building for another 10 years. Erik Schmall and Daniel Thompson of Savills represented Left/Right in the lease negotiations. David Koeppel and Max Koeppel of Koeppel Rosen LLC represented the landlord, the Rosen family.

October 30, 2019

Acquisitions Connecticut Northeast Office

CBRE Brokers $7.6M Sale of Office Complex in Danbury, Connecticut

by Alex Patton October 30, 2019

DANBURY, CONN. — CBRE brokered the $7.6 million sale of 4 Mountainview Terrace, a 64,255-square-foot office complex in Danbury, located approximately 30 miles west of New Haven. The property was 81 percent occupied at the time of the sale. Louis Zuckerman and Patrick Colwell of CBRE represented the landlord, 101 East Ridge LLC, and procured the undisclosed buyer in the transaction.

October 30, 2019

California Loans Office Western

Kylli Receives $350M Refinancing for 580,000 SF Historic Office Building in San Francisco

by Amy Works October 29, 2019

SAN FRANCISCO — Kylli Inc. has received $350 million in refinancing for 225 Bush Street, a historic office building in San Francisco’s Financial District. The 580,000-square-foot asset was constructed in 1922 as the Standard Oil Building for John D. Rockefeller by architect George W. Kelham. At the time of completion, the 22-story office tower was the tallest building in San Francisco. The property was fully occupied by 31 tenants at the time of sale. Jordan Angel, Taylor Gimian and Andie Fezell of JLL Capital Markets secured the fixed-rate loan through Deutsche Bank for the borrower.

October 29, 2019

Natoma-Station-Corporate-Center-Folsom-CA

Acquisitions California Office Western

Voit Real Estate Negotiates $23.7M Acquisition of Natoma Station Corporate Center in Folsom, California

by Amy Works October 29, 2019

FOLSOM, CALIF. — Voit Real Estate Services has arranged the purchase of Natoma Station Corporate Center, a multi-tenant office building in Folsom. Iron Point acquired the property from PAC West Office Equities, an entity of Buzz Oates Real Estate, for $23.7 million. Located at 950 Iron Point Road, the two-story property features 102,750 square feet of Class A office space. The buyer will occupy a portion of the property as the new corporate headquarters for two entities serving the logging and utility services industries: Mountain G Enterprises and Mountain F Enterprises. With these leases, the building will be fully occupied. Additional tenants include Devry, General Dynamics and Allstate. Rocco Curci of Voit’s Irvine, Calif., office represented the buyer, while Kevin Partington and Sean Mullen of Cushman & Wakefield represented the seller in the transaction.

October 29, 2019

Leasing Activity New York Northeast Office Retail Top Stories

Leasing Event: BMW of Manhattan Renews 227,000 SF Office, Showroom Space in New York City

by John Nelson October 29, 2019

NEW YORK CITY — BMW of Manhattan has renewed its 227,000-square-foot lease at 555 W. 57th St. in New York City, a 20-story office building formerly known as the Ford Motors Building. BMW occupies office space on the ground and concourse levels, as well as the entire second, third and fourth floors. The company also leases the ground-level showroom, which formerly showcased Ford vehicles. BMW will stay in the building for at least another 10 years following its lease renewal with New York-based landlord SL Green Realty Corp. “We’re delighted to extend our longstanding relationship with BMW,” says Steven Durels, SL Green’s executive vice president and director of leasing. Known locally as the BMW Building, the project was built in 1973 and renovated in recent years to include new entrances and an outdoor plaza area, as well as modernized bathrooms and hallways. Situated between 10th and 11th avenues on Manhattan’s west wide, the office building is close to Columbus Circle, Lincoln Center and transportation hubs. Other notable tenants in the building include CBS Broadcasting Inc., City University of New York, Greater New York Hospital Association and Mt. Sinai/Beth Israel. Scott Panzer and Matt Rosen of JLL represented BMW in the …

October 29, 2019

Acquisitions Office Texas

Hines, Cerberus Buy 2.1 MSF Former JPMorgan Chase Office Complex in Downtown Houston

by Taylor Williams October 28, 2019

HOUSTON — Hines and an affiliate of Cerberus Capital Management LP have purchased a 2.1 million-square-foot office complex located at 600-601 Travis St. in downtown Houston. The property at 600 Travis St., which was formerly branded JPMorgan Chase Tower, stands 75 stories, measures approximately 1.7 million square feet including 22,237 square feet of ground-floor retail space and is the tallest building in Texas. The building at 601 Travis St. was formerly branded JPMorgan Chase Center, rises 20 stories and spans about 408,000 square feet. The property at 600 Travis St. will undergo significant capital improvements, including upgrades to the lobby and common areas and the addition of a new conference center. Hines manages both buildings. The seller was not disclosed.

October 28, 2019

Loans New York Northeast Office

AKS Capital Arranges $749M Refinancing for The Company Building Office Property in Manhattan

by Alex Patton October 28, 2019

NEW YORK CITY — AKS Capital Partners has arranged a $749 million refinancing loan for the redevelopment of 335 Madison as The Company Building, a 1.1 million-square-foot, Class A office property in Manhattan. Brookfield Real Estate Financial Partners provided the loan to the borrower, Milstein Properties, to support the building’s redevelopment plan, which will deliver a interior upgrades such as a new wellness center, outdoor space, dining venues and a theater. Company, a tech startup incubator, occupies 250,000 square feet as the building’s anchor tenant. Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz and Michael Diaz of AKS Capital Partners arranged the transaction for Milstein Properties. SHoP Architects is handling design of the redevelopment.

October 28, 2019

Acquisitions Massachusetts Northeast Office

NKF Negotiates $69.2M Sale of Office Property in Boston

by Alex Patton October 28, 2019

BOSTON — Newmark Knight Frank (NKF) has negotiated the $69.2 million sale of 100 Franklin Street, a 123,950-square-foot office building in downtown Boston. At the time of sale, the nine-story building was 95 percent leased to 25 tenants including Webster Bank, data research company Lux Research Inc. and the YMCA. Robert Griffin, Edward Maher, Matthew Pullen, James Tribble and Samantha Hallowell of NKF represented the seller, a partnership between Clarion Partners LLC and Synergy Investments. A partnership between Independencia Asset Management LLC and Synergy Investments LLC was the buyer. Boston Business Journal reports that Synergy will remain in its 9,034-square-foot office within the building and will continue to manage the property.

October 28, 2019

Acquisitions Massachusetts Northeast Office

Colliers Arranges $12.3M Sale of Foxford Business Center in Canton, Massachusetts

by Alex Patton October 28, 2019

CANTON, MASS. — Colliers International has arranged the $12.3 million sale of Foxford Business Center, a 112,375-square-foot industrial building in Canton, located approximately 15 miles south of Boston. Foxford Business Center was completed in 1984 and underwent subsequent renovations in 1990 and 1995. The building was fully leased to 13 tenants at the time of sale. Caleb Hudak, Cathy Minnerly, Ovar Osvold, Sean Hannigan and Glenne Bachman of Colliers represented the seller, The Naughton Co., in the transaction. Longpoint Realty Partners was the buyer.

October 28, 2019

Acquisitions California Office Western

Drawbridge Realty Acquires Two Orange County Office Buildings Totaling 169,315 SF

by Amy Works October 28, 2019

ALISO VIEJO, CALIF. — San Francisco-based Drawbridge Realty has purchased two office buildings in Aliso Viejo for an undisclosed price. Known as 4 and 5 Polaris, the assets serve as the corporate headquarters for Quest Software and UST Global, respectively. Located at 4 and 5 Polaris Way, the four-story 4 Polaris and three-story 5 Polaris buildings offer a total of 169,315 square feet. Anthony Delorenzo, Todd Tydlaska, Sean Sullivan, Michael Longo and Bob Smith of CBRE represented the undisclosed seller in the transaction.

October 28, 2019

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