AUSTIN, TEXAS — Investment firm CIM Group has purchased Chase Tower, a 21-story, 390,000-square-foot office building located at 221 W. Sixth St. in downtown Austin. Built in 1974, the property spans a full city block and is surrounded by an abundance of restaurant, retail, entertainment and hotel options. Chase Tower is also located near hiking and biking trails fronting Lady Bird Lake. The seller was not disclosed.
OAK BROOK, ILL. — Morgan/Harbour Construction has broken ground on a new 135,000-square-foot, four-story build-to-suit for Hub Group on Clearwater Drive in Oak Brook. The project serves as Phase II for the headquarters of Hub Group, a supply chain solutions provider. In the second phase, Morgan/Harbour will construct a replica of the Phase I building with open work areas, private offices, conference rooms and a fitness center. The buildings will be connected via an underground walkway. Solomon Cordwell Buenz is the architect. Completion is slated for September 2020. Morgan/Harbour completed Phase I in 2014.
WESTMINSTER, COLO. — Unique Properties/TCN Worldwide has arranged the sale of Front Range Medical Office Park, a four-building property located at 8402-8406 Clay St. and 8403-8407 Bryant St. in Westminster. An undisclosed buyer acquired the complex from an undisclosed seller for $3.3 million, or $253.26 per square foot. Situated on 2.2 acres, the asset features 13,030 square feet of medical office space. At the time of sale, the property was fully occupied by two medical tenants with long-term leases. Sam Leger and Tim Finholm of Unique Properties/TCN Worldwide represented both parties in the transaction.
DALLAS — Uber (NYSE: UBER) has signed a 450,000-square-foot lease within The Epic, a mixed-use development in Dallas. Uber will move to the second planned 23-story office building, which will total 470,000 square feet, when completed. Westdale Real Estate Investment and Management, the owner and developer of The Epic, plans to break ground in the fourth quarter of this year with delivery slated for the fourth quarter of 2022. In the meantime, Uber will occupy 168,000 square feet on the ninth to 15th floors of the existing Epic office tower beginning in July 2020. The company plans to move about 700 employees to Dallas in July, then more than 3,000 in 2022. Uber plans to begin tenant improvements and buildout in the new tower in the second quarter of 2022. This is the second massive lease signing recently for the transportation company. Earlier this week, Uber announced that it signed a 10-year, 463,000-square-foot lease in Chicago’s Old Post Office. The Epic is located on the eastside of downtown Dallas, adjacent to Deep Ellum. The new tower will complete The Epic, which currently comprises 251,000 square feet of office space, 55,000 square feet of retail and restaurant space, the 164-room Pittman …
DALLAS — JLL has arranged a $128.3 million construction loan for The Link at Uptown, a 25-story office tower that will be located in the Uptown area of Dallas. Located at 2601 Olive St., the property will total 300,000 square feet. De’On Collins of JLL arranged the five-year, floating-rate loan through Broad Street Real Estate Credit Partners III, an investment fund managed by the Merchant Banking Division of Goldman Sachs. The borrower was Kaizen Development Partners. The target completion date is fall 2021.
DALLAS AND PLANO, TEXAS — Coworking firm Spaces will open four new coworking facilities totaling 173,395 square feet in the metroplex over the next few months. Spaces will occupy 48,171 square feet at Legacy Central, 47,046 square feet at the Shops at Legacy, 31,152 square feet in West Plano Village and 47,026 square feet at The Epic in Deep Ellum. Baron Aldrine, Steve Rigby, Mike Cleary, Mike Kay and Pete Danna of CBRE represented Spaces in the lease negotiations.
CHICAGO — Uber Technologies has signed a 10-year office lease for 463,000 square feet at Chicago’s Old Post Office. The ridesharing company will serve as the building’s anchor tenant and expects to take over the space beginning Jan. 5. The office will be Uber’s second-largest office behind its headquarters in San Francisco. The owner and developer of the property, 601W Cos., is underway on an $800 million redevelopment of the 2.8 million-square-foot former post office. Walgreens, Home Chef, Ferrara Candy Co. and AbelsonTaylor have previously signed leases at the project.
CHICAGO — J.C. Anderson has completed a 29,000-square-foot renovation project at the Aon Center in Chicago. The project scope included new amenities for the building’s 70th floor. Known as the Cloud Level, the project features a new fitness center, conference center, bar area, dining area, game room, library and private event meeting space. Gary Lee Partners provided architectural services and JLL provided project management services. Property owners include 601W Cos. and Brickell 13 Chicago. Located downtown, the Aon Center is an 83-story skyscraper. It is currently the third-tallest building in Chicago and was completed in 1973. Major tenants include Aon, JLL and Kraft Heinz.
GARDEN CITY, N.Y. — Newmark Knight Frank (NKF) has brokered the sale of 900 and 990 Stewart Ave., two Class A office buildings totaling 462,000 square feet in Garden City, Long Island. The buildings were 88 percent leased at the time of sale. Kevin Welsh, Brian Schulz, Jason Emrani, Rob Griffin, Steven Schultz, Scott Berfas and Dan Oliver of NKF represented the seller, a joint venture of Boston-based The Davis Companies and New Jersey-based Onyx Equities, in the transaction. The NKF team also procured the buyer, a New York-based investor.
CLIFTON, N.J. — NAI James Hanson has negotiated a lease extension for a 5,500-square-foot medical office space in Clifton, a western suburb of New York City, for Kessler Institute for Rehabilitation Inc. The office is located within 1135 Broad Street, a three-story, 68,000-square-foot medical office building. Randy Horning and Darren Lizzack of NAI James Hanson represented the landlord, First Equity Development Co., in the lease negotiations. John Morrissey of Jackson Cross Partners represented Kessler.
