FORT WORTH, TEXAS — CityCentral, a Dallas-based coworking office concept, will open a 22,530-square-foot space at Cantey Hanger Plaza in downtown Fort Worth. The space, which is scheduled to open this fall and will be the company’s fourth in the metroplex, will offer more than 70 private offices, as well as meeting rooms and event spaces. Matthew Hickey and Kristin Grammar of TIG Real Estate Services represented CityCentral in the lease negotiations. Red Oak Realty represented the landlord.
WESTMONT, ILL. — JLL has signed a long-term lease to anchor Oakmont Point, a redevelopment project underway by Ryan Cos. in Westmont. The commercial real estate services firm will consolidate its existing operations in Westmont and Lombard to occupy the new 67,000-square-foot office this fall. Oakmont Point is an 18-acre office complex. Upon redevelopment, the property will feature three buildings that can accommodate users from 25,000 to 275,000 square feet. Amenities will include a conference center, Wi-Fi lounge, fitness center, deli and outdoor spaces.
SUNNYVALE, CALIF. — A joint venture between Harvest Properties and Invesco Real Estate has acquired a three-building, Class A office development site in Silicon Valley’s Sunnyvale submarket. Terms of the transaction were not released. The acquisition marks the eighth joint venture that Harvest and Invesco have completed together. The fully entitled, shovel-ready development site is situated in Peery Park, minutes from downtown Sunnyvale. The project totals approximately 540,000 square feet across three buildings and can be delivered in phases. The partnership plans to break ground immediately and deliver the first building, a 190,000-square-foot asset at 684 W. Maude Ave., in the third quarter of 2020.
CHICAGO — Merchants Capital has opened a production office located at 131 S. Dearborn St. in Chicago. This is the company’s fourth office nationwide. Lee Oller has been hired as executive vice president to lead the Chicago team. Joining Oller are three senior vice presidents: Susan Schnoll, Alan Cravitz and Brian Black. Merchants Capital is a multifamily, affordable housing and healthcare lender.
DENVER — Amazon plans to expand its Denver Tech Hub and create 400 new high-tech jobs in a variety of fields, including software engineering, hardware engineering, cloud computing and advertising. To accommodate this growth, the company will open a 98,000-square-foot office at Invesco’s 1515 Wynkoop building in Denver’s Lower Downtown district. Currently, Amazon has more than 350 employees in the Denver area, building new products and services for the company’s retail, advertising and Amazon Web Services businesses. The company’s new office joins the company’s Boulder office, which opened last fall, and will allow Amazon to more than double its tech workforce in the Denver area. In total, Amazon has created more than 3,500 full-time jobs in Colorado. Over the last three years, Amazon has invested more than $1.5 billion in Colorado including infrastructure, compensation and Whole Foods Market.
THORNTON, COLO. — Cushman & Wakefield has arranged the sale of 67 acres of industrial-zoned land that will be developed into 25 North, a master-planned flex development in Thornton. A newly formed joint venture between RMS Properties Co. and Bow River Capital acquired the site for $4 million. Located at Washington Street and 148th Avenue in Thornton, 25 North will feature approximately 900,000 square feet of Class A industrial space. Construction of the first phase is underway and will include two speculative buildings totaling approximately 220,000 square feet. The site is zoned to allow for a variety of uses, including office, flex, industrial, warehousing, manufacturing and outdoor storage uses. Additionally, the development will offer new speculative development and land for build-to-suits, with buildings ranging in size from 50,000 square feet to 250,000 square feet. Matt Trone, Steve Hager and Joey Trinkle of Cushman & Wakefield Denver represented the seller, Regal Properties, in the transaction.
PITTSBURGH — LG Realty Advisors, a privately held development and management firm, has unveiled plans for Liberty East, a $50 million office and retail project in Pittsburgh. Liberty East, which is a redevelopment of the nine-story Penn Plaza building, will ultimately house 246,000 square feet of Class A office space with a 50,000-square-foot retail space on the ground floor that will be occupied by Whole Foods Market. The development will also include an additional 4,600 square feet of retail space and 700 parking spaces. Construction of Phase I of the project, which also includes a $1 million contribution to the upgrading of nearby Enright Park, is expected to begin this summer and wrap up in summer 2021.
FAIRFIELD, CONN. — West Orange, New Jersey-based brokerage firm Sheldon Gross Realty has closed the $30 million-plus sale of seven office and industrial buildings totaling 315,800 square feet in the coastal Connecticut city of Fairfield. The buyer was an institutional investment firm and the seller was undisclosed. Robert Nathin of Sheldon Gross Realty, which has also managed the properties for the past two decades, brokered the deal.
THE WOODLANDS, TEXAS — Wealth and human resources consulting firm Alight Solutions has signed a 180,000-square-foot office lease within The Woodlands, a master-planned community located north of Houston. The company’s new office space will offer access to walking trails and other outdoor amenities. The build-to-suit lease is for a building in The Woodlands that is currently under construction and is expected to be complete by spring 2020. Ronnie Deyo and David Bale of JLL represented Alight Solutions in the lease negotiations. Robert Parsley, Norm Munoz and Jillian Fredericks of Colliers International represented the landlord and developer, The Howard Hughes Corp.
GRAND PRAIRIE, TEXAS — Bradford Commercial Real Estate Services has brokered the sale of Bardin Professional Center, a 9,358-square-foot office building in Grand Prairie, located roughly midway between Dallas and Fort Worth. The two-story property, which was built in 2003, is situated just off Interstate 20 and was 82 percent leased at the time of sale. Leigh Richter of Bradford Commercial represented the seller, IM Bardin LLC, in the deal. The buyer, Nabua Property Holdings LLC, plans to renovate the building.
