Office

Alliant: Communication is a Commodity in Today’s Lending Environment

by Jaime Lackey February 19, 2019

Communication and transparency are always top priorities for commercial lenders and borrowers. Paul Letourneau, manager of commercial lending at Alliant Credit Union, believes these are the true skills lenders should leverage in today’s market. Letourneau knows we’re long in this cycle — and he says that’s not a bad thing. There is still a great need for capital, but with that demand comes the competition among suppliers. This, Letourneau asserts, has caused lenders like credit unions to make sure their relationships with mortgage brokers and sponsors are as strong as possible. The ability to remain competitive while disciplined is no easy task. Letourneau believes this starts with strong communication between all parties. Watch the video for more insights from Letourneau. Alliant Credit Union is a content partner of REBusinessOnline. Click here to view articles written in conjunction with Alliant.

February 19, 2019

Acquisitions Office Texas

SkyWalker Property Partners Purchases 227,891 SF Office Building in Dallas

by Taylor Williams February 19, 2019

DALLAS — Local investment firm SkyWalker Property Partners has purchased a 227,891-square-foot office building located at 8151 LBJ Freeway in Dallas. The property was built in 1981 on 3.4 acres. Gary Walker and Clint Holland of SkyWalker represented the buyer of record, which plans to invest $500,000 in capital improvements to the eight-story, Class B building. HFF represented the seller, Credit Union of Texas, which formerly housed its headquarters in the building and has leased back 110,876 square feet of space.

February 19, 2019

Acquisitions Florida Office Southeast

Cushman & Wakefield Arranges $29.2M Sale of Office Park in Fort Lauderdale

by Alex Tostado February 19, 2019

FORT LAUDERDALE, FLA. — Cushman & Wakefield has arranged the $29.2 million sale of Lakeshore Business Center, a four-building office park in Fort Lauderdale. The business center is located at 5100 and 5200 NW 33rd Ave. and 3201-3125 W. Commercial Blvd., about seven miles north of downtown Fort Lauderdale. Mike Davis, Scott O’Donnell, Dominic Montazemi, Greg Miller, Rick Brugge and Michael Lerner of Cushman & Wakefield represented the seller, Morning Calm Management, in the transaction. Miami-based YMP Real Estate purchased the asset, which was 79 percent leased at the time of the sale.

February 19, 2019

Leasing Activity Office Southeast Virginia

Booz Allen Hamilton to Expand Presence in Metro Washington, D.C.

by Alex Tostado February 19, 2019

ARLINGTON, VA. — Booz Allen Hamilton, a Fortune 500 firm that specializes in providing consulting, analytics, engineering and digital solutions and employs 25,000 people in 80 locations worldwide, will expand its presence in Arlington’s National Landing submarket. In September, Booz Allen Hamilton will occupy 84,000 square feet of office space at 1550 Crystal Drive, a 480,572-square-foot building owned by JBG Smith Properties. The building is now 92 percent leased. The asset is situated about four miles south of downtown Washington, D.C.

February 19, 2019

Leasing Activity Office Southeast Virginia

NRP Group Breaks Ground on 272-Unit Apartment Community Near Washington, D.C.

by Alex Tostado February 19, 2019

CLARKSBURG, MD. — The NRP Group has broken ground on The Axiom at Cabin Branch, a 272-unit apartment complex in Clarksburg. The apartment complex will offer one-, two- and three-bedroom floor plans and community amenities such as a swimming pool, pool deck, fire pits, grills, fitness center, dog park, bike storage and package reception services. The asset is located about 30 miles north of Washington, D.C. The NRP Group is developing Axiom with equity partner Parse Capital. First National Bank of Pennsylvania is providing construction financing. A timeline for completion was not provided.

February 19, 2019

Illinois Leasing Activity Midwest Office

TBI Signs 27,484 SF Office Lease in Chicago

by Kristin Harlow February 19, 2019

CHICAGO — TBI Inc. has signed a 27,484-square-foot, full-floor lease at International Tower in Chicago. The 300,000-square-foot office building is located at 8550 W. Bryn Mawr Ave. In conjunction with the lease, landlord Golub & Co. will begin a revitalization of the building with new amenities, including a fitness center, yoga room, conference center and tenant lounge. The renovations are expected to be completed this year. TBI, a technology distributor, is moving from its previous office at 8770 W. Bryn Mawr Ave. Steve Degodny of Golub represented Golub in the lease transaction. Alex Smith, Brad Frank and Jordan Rovito of Cushman & Wakefield represented TBI.

February 19, 2019

Acquisitions Massachusetts Northeast Office

SVN | Parsons Commercial Group Brokers $2.5M Sale of Office Building in Massachusetts

by David Cohen February 18, 2019

BILLERICA, MASS. — SVN | Parsons Commercial Group has brokered the $2.5 million sale of a 30,000-square-foot office building in Billerica. Located at 5 Fortune Drive, the first floor of the building is fully leased to Anew Health, which operates an adult daycare facility on site. Marci Alvarado and Jake Parsons of SVN | Parsons Commercial Group represented the seller, Five Fortune Drive LLC, in the transaction. The buyer was NeoSome Life Sciences LLC.

February 18, 2019

Acquisitions North Carolina Office Southeast

DRP Acquires 386,844 SF Office Park in Metro Greensboro for $25M

by Alex Tostado February 18, 2019

HIGH POINT, N.C. — Dominion Realty Partners (DRP) has acquired Mendenhall Business Park, a six-building, 386,844-square-foot office park in High Point. The business park is situated about 12 miles west of downtown Greensboro and was 69 percent leased at the time of sale. DRP plans to make significant investments in building renovations and capital improvement projects to enhance the overall appeal and marketability of the buildings. The sales price was not disclosed, though Triad Business Journals reports the asset sold for $25 million. The seller was not disclosed.

February 18, 2019

Acquisitions Office Texas

Belvoir, Mission Acquire 85,050 SF Office Property in Houston’s Energy Corridor

by Taylor Williams February 18, 2019

HOUSTON — A joint venture between two Houston-based firms, Belvoir Real Estate Group and Mission Cos., has acquired 15810 Park Ten Place, an 85,050-square-foot Class B office property located in Houston’s Energy Corridor. Kevin McConn, Rudy Hubbard and Rick Goings of JLL led the sales efforts on behalf of the seller, a joint venture between Dallas-based Chief Partners and the Houston office of Stream Realty Partners. Other terms of sale were not disclosed.

February 18, 2019

Market Reports North Carolina Office Southeast Southeast Market Reports

Strong Tenant Demand Propels New Office Developments Underway in Charlotte

by Alex Tostado February 18, 2019

With 3.2 million square feet of new office space under construction, much of it in the city’s urban core, Charlotte’s skyline is in the midst of a significant transformation. Due to strong preleasing activity and solid economic underpinnings, however, the city’s office vacancy rate is projected to remain stable over the coming months as many of those projects deliver. Approximately 60 percent of Charlotte’s construction pipeline has been preleased, according to JLL research, and 2.3 million is concentrated in the city’s central business district. In Uptown Charlotte, the 33-story Legacy Union office tower recently topped out, signaling the end of vertical construction. The 850,000-square-foot development by Lincoln Harris is scheduled to deliver early next year and will be anchored by Bank of America, which has signed a lease for 550,000 square feet. Lincoln Harris recently revealed plans for a second office tower with 388,835 square feet of office space and 22,763 square feet of retail space at the high-profile site, which was once home to The Charlotte Observer. Across the street from Legacy Union, construction is also underway on Ally Charlotte Center, a 26-story, 742,000-square-foot office tower by Crescent Communities. Last year Ally Financial announced that it had leased 400,000 …

February 18, 2019

Newer Posts

Older Posts