CHARLOTTE, N.C. — LendingTree, an online lending marketplace, will relocate its headquarters to Charlotte’s South End submarket in late 2020. LendingTree will occupy 175,000 square feet of office space within The Spectrum Cos.’ five-acre mixed-use project on South Tryon Street at Carson Boulevard, less than two miles south of downtown Charlotte. A ground-breaking for the first of two 11-story office buildings within the project is scheduled for June. The mixed-use development will feature 580,000 square feet of office space, 50,000 square feet of retail space, a conference center, fitness center and a one-acre urban courtyard. LendingTree is currently headquartered in the Ballantyne submarket, 13 miles south of downtown Charlotte.
TAMPA, FLA. — The Dilweg Cos. has acquired Concourse Center, a four-building office property spanning 294,000 square feet in Tampa. The three-story buildings were built between 1982 and 1984 and were 90 percent leased at the time of sale. Notable tenants include BayCare Medical Group, State of Florida, Enterprise and Pegasus TSI. Dilweg plans to invest $4 million to improve the buildings’ operating systems, common areas, tenant amenities and provide a “best in class” office experience for existing and future tenants. The property is situated between Interstate 275 and Tampa International Airport in the Westshore submarket. The seller and sales price were not disclosed.
WESTMINSTER, COLO. — HFF has arranged the sale of Westmoor Place 8, 9 and 10, a three-building office campus. An undisclosed seller sold the property to CapRidge Partners for $71.1 million. Located at 11400, 11300 and 11000 Westmoor Circle in Westminster, a northwest suburb of Denver, the asset totals 428,029 square feet of Class A office space. The three- and four-story buildings are 79 percent leased to a variety of tenants, including CACI International, Kahuna Ventures, Coalfire Systems and General Dynamics. Amenities at the office campus include a full-service cafeteria, showers on every office floor, a fitness center and access to 3.5 miles of trails and open space, as well as an on-call shuttle. Mark Katz and Peter Merrion of HFF represented the seller and procured the buyer in the transaction.
RENO, NEV. — NAI Alliance has negotiated sales of two properties totaling 21,072 square of industrial and office space in Reno. Prices were not disclosed. In the first transaction, The Carle & Anne Conway Family Trust acquired a 19,222-square-foot office building located at 140 Washington St. Dan Oster and Chase Houston of NAI Alliance represented the seller, TDC Reno Office 1-DE SPE LLC, while Avison Young Western Alliance Commercial represented the buyer. In the second deal, Nevada Outdoors purchased a 1,850-square-foot industrial building, located at 5115 Sun Valley Blvd. Oster and Bryce Wiele of NAI Alliance represented the buyer, while DCG Commercial Group represented the seller, David Muskin.
BROOKLYN, N.Y. — CBRE has negotiated an 83,051-square-foot office lease at 10 Jay Street in the Dumbo area of Brooklyn for Rent the Runway, an online company that provides clothing rental services. The tenant will relocate its headquarters from 345 Hudson Street to the 10-story, 200,000-square-foot property, which was developed by Glacier Global Partners. Frederick Fackelmayer, Alex Benisatto and Sam Mann of CBRE represented Rent the Runway, which plans to move in to its new space in 2020, in the lease negotiations.
NEW YORK CITY — Cosentini Associates, a division of engineering and consulting firm Tetra Tech Inc., has signed a 60,000-square-foot office lease at 498 Seventh Avenue, a 25-story, 960,000-square-foot tower in Midtown Manhattan. Cosentini plans to relocate its headquarters from 2 Penn Plaza to the new space in the first quarter of 2020. Justin Aronson, Michael Liss, Christopher Mansfield and Adele Huang of CBRE represented the tenant in the lease negotiations. Andrew Conrad and Matt Coudert represented the landlord, George Comfort & Sons, on an internal basis.
AUSTIN, TEXAS — HFF has arranged the sale of Westlake Place, a 61,740-square-foot office building in southwest Austin. Renovated in 2015, the property is situated on 2.5 acres at 1515 S. Capital of Texas Highway and was 92 percent leased at the time of sale. Cathy Nabours, Walter Saad and Drew Fuller of HFF marketed the property on behalf of the seller, Maryland-based Moore & Associates Inc., and procured the buyer, Oakpoint Real Estate, an investment firm with offices in Nashville and Austin. Chris McColpin of HFF arranged an undisclosed amount of acquisition financing through Lincoln Financial Group for the deal. That loan carried a 10-year term and a fixed interest rate.
HOUSTON — New York City-based Axiom Capital Management has acquired a 60,000-square-foot office building located at 13111 Westheimer Road in Houston. Comerica Bank serves as the major tenant at the four-story, Class B property. Bill McGrath and Peter Wall of LandPark Advisors represented Axiom Capital Management, which will upgrade the building’s common areas, in the transaction. The seller was not disclosed.
EL SEGUNDO, CALIF. — TA Realty has acquired 101 Continental, a soon-to-be-vacant office tower in El Segundo, for $138.5 million or $400 per-square-foot. VEREIT Inc. (NYSE: VER) sold the property. Developed by Continental Airlines in 1972, the 340,000-square-foot property was upgraded in 2008. The building is fully leased to Northrop Grumman and features floor-to-ceiling glass on every floor and unobstructed ocean views. TA Realty plans to begin a comprehensive building renovation at the end of May when Northrop Grumman’s lease expires. A timeline for the completion of the renovation was not disclosed. The property is located at 101 Continental Blvd., 18 miles southwest of downtown Los Angles and two miles south of Los Angeles International Airport. Selling 101 Continental decreases VEREIT’s office exposure and strengthens its overall portfolio, according to Thomas Roberts, chief investment officer of the company. As of Dec. 31, 2018, VEREIT managed and owned a 4,000-property, 95 million-square-foot portfolio that spanned across retail, office, restaurant and industrial space in 49 states. When Phoenix-based VEREIT purchased the property in 2014 for $98 million, it was fully leased to Northrop Grumman. VEREIT engaged Newmark Knight Frank (NKF) to market the property as a redevelopment opportunity. “The opportunity to acquire …
HOUSTON — Charlotte-based multinational conglomerate Honeywell has signed a 114,068-square-foot office lease at CityWestPlace, a four-building office campus in Houston’s Westchase district that spans more than 1.4 million square feet. Amenities at the property include three dining outlets, two fitness centers and access to recreational facilities such as basketball and volleyball courts, a soccer field and an outdoor track. Honeywell, a Fortune 100 company, will assume occupancy of Building 1 for its primary base of operations in Houston beginning in late 2019. Rich Pancioli and John Morris of CBRE represented Honeywell in the lease negotiations. J.P. Hutcheson represented the landlord, office REIT Parkway Property Investments LLC, on an internal basis.