Office

Cushman & Wakefield Arranges $48.5M Sale of Office Building in Metro Orlando

by Alex Tostado January 23, 2019

MAITLAND, FLA. — Cushman & Wakefield has arranged the $48.5 million sale of Maitland Promenade One, a 230,371-square-foot office building in Maitland. KBS purchased the asset, which is situated within Maitland Center, an office park with eight Class A office buildings. KBS already owns Maitland Promenade Two. Maitland Promenade One is located about 10 miles north of downtown Orlando and was 98.1 percent leased at the time of sale to tenants including Allstate, Spectrum Communications, Adventist Health and Taylor Morrison. Michael Lerner, Mike Davis, Rick Brugge and Rick Colon of Cushman & Wakefield represented the seller, Boston-based TA Realty, a private real estate investment firm, in the transaction.

January 23, 2019

Development Office Texas

Hunt, Moss Begin Vertical Construction of 262,000 SF Office Building in Downtown El Paso

by Taylor Williams January 22, 2019

EL PASO, TEXAS — Developer Hunt Cos. and Florida-based general contractor Moss have gone vertical on construction of WestStar Tower, a 262,000-square-foot office building in downtown El Paso. The companies broke ground on the project last June, WestStar Tower will serve as the new corporate headquarters for both Hunt and WestStar, a regional bank. Together, the two firms will employ about 430 people at the new building, which will include an 850-space parking garage. Sonny Brown & Associates is handling preleasing of the property.

January 22, 2019

Havenwood-Office-Park-The-Woodlands-Texas

Leasing Activity Office Texas

Med-Data Signs 50,717 SF Office Lease in The Woodlands

by Taylor Williams January 22, 2019

THE WOODLANDS, TEXAS — Med-Data Inc., a provider of technology-enabled healthcare services, has signed a 50,717-square-foot office lease at Havenwood Office Park in The Woodlands, about 30 miles north of Houston. The Class A property features a fitness center, conference room and an outdoor plaza. Lisa Hughes of The J. Beard Real Estate Co. represented the landlord, Havenwood Land Developments LP, in the lease negotiations. Kevin Saxe and Rupi Singh of CBRE represented Med-Data.

January 22, 2019

Acquisitions Office Texas

Bradford Arranges Sale of 37,069 SF Office Building in Metro Dallas

by Taylor Williams January 21, 2019

COPPELL, TEXAS — Bradford Commercial Real Estate Services has arranged the sale of a 37,069-square-foot office building located at 635 Fritz Drive in Coppell, a northwestern suburb of Dallas. Erik Blais and Richmond Collinsworth of Bradford Commercial represented the seller, International Association of Venue Managers Inc., in the transaction. Ben Appleby of Paladin Partners represented the buyer, Tanam LLC.

January 21, 2019

Acquisitions Office Southeast Virginia

Cushman & Wakefield | Thalhimer Arranges $56M Sale of Newly Renovated Office Building in Richmond

by Alex Tostado January 21, 2019

RICHMOND, VA. — Cushman & Wakefield | Thalhimer Capital Markets Group has arranged the sale of Deep Run 3, a 355,449-square-foot office building in Richmond. The Class A office building recently underwent a $19 million renovation, with new additions including a 250,000-square-foot parking garage, roof, fitness center and cafeteria. The renovation also included updating the building’s lobbies and elevators. Deep Run 3 was 98 percent leased at the time of sale to tenants including McKesson Medical-Surgical, Essex Bank’s headquarters and Travelers Insurance. Eric Robison and Erik Berkman of Cushman & Wakefield | Thalhimer represented the seller, Markel | Eagle Partners, in the transaction. An undisclosed buyer acquired the property for $158 per square foot.

January 21, 2019

Leasing Activity Lee & Associates Office Texas

Lee & Associates Negotiates 13,297 SF Office Lease in Dallas

by Taylor Williams January 21, 2019

DALLAS — Lee & Associates has negotiated a 13,297-square-foot office lease at 750 N. St. Paul St. in Dallas. Nathan Denton of Lee & Associates represented the tenant, Mayer LLP, in the lease negotiations. Ben Davis, Jackie Marshall and Fletcher Cordell of CBRE represented the landlord, Quadrant.

January 21, 2019

Acquisitions Illinois Midwest Office

SVN | Chicago Commercial Arranges $8.1M Sale of Office Building in Chicago’s Fulton Market

by Kristin Harlow January 21, 2019

CHICAGO — SVN | Chicago Commercial has arranged the sale of a loft office building located at 327 N. Aberdeen St. in Chicago’s Fulton Market for $8.1 million. The 27,895-square-foot property is located one block from Google’s Midwest headquarters and three blocks from McDonald’s new headquarters. Chad Schroedl, Drew Dillon and Scott Maesel of SVN represented the seller.

January 21, 2019

Illinois Leasing Activity Midwest Office

Tegus Signs 14,195 SF Office Lease in Chicago

by Kristin Harlow January 21, 2019

CHICAGO — Tegus, a research platform for institutional investors, has signed a 14,195-square-foot office lease at 120 S. LaSalle St. in Chicago. Toronto-based Slate Office REIT owns the property, and plans to upgrade the amenity package with a rooftop lounge and fitness center. Tegus plans to move 45 employees into the new space on April 1. The space allows for expansion up to 100 employees. Tony Karmin and Joe Stevens of Colliers International represented Tegus in the lease transaction. Mason Taylor of JLL represented Slate.

January 21, 2019

Leasing Activity Massachusetts Northeast Office Top Stories

PUMA North America to Open 150,000 SF Office Headquarters Near Boston

by Taylor Williams January 21, 2019

SOMERVILLE, MASS. — Sports apparel and accessories company PUMA North America will open a new, 150,000-square-foot office headquarters at Assembly Row, a mixed-use destination in the northwestern Boston metro of Somerville. Federal Realty Investment Trust (NYSE: FRT) is developing Assembly Row. The new headquarters will be located at 455 Grand Union Blvd. The new building will total 300,000 square feet upon completion, and will bring together PUMA’s two nearby offices in Boston and Westford. The company expects the space to house about 550 employees across five floors beginning in 2021. The transit-served building also features a 19,000-square-foot roof deck complete with a recreational area and basketball court. Additional amenities include a fitness center, a kids’ room and bike storage. “We need to be faster than ever in the way we react and adapt,” says Adam Petrick, PUMA’s global director of branding and marketing. “Somerville is a city buzzing with creative, diverse energy that will help us live out our ‘Forever Faster’ mentality.” Assembly Row is a 40-acre project located along Interstate 93 and the MBTA Orange Line. The developer has launched Phase III of the project, which will feature more than $475 million in new development. Phase III will deliver a 500-unit …

January 21, 2019

Florida Leasing Activity Office Southeast

Coworking Operator to Anchor One Cocowalk in Miami’s Coconut Grove Neighborhood

by Alex Tostado January 18, 2019

MIAMI — Spaces, an international coworking operator backed by Regus, has signed on to anchor One Cocowalk, the office component of Coconut Grove’s mixed-use development CocoWalk. Spaces will occupy a total of 42,883 square feet when construction of One Cocowalk is expected to be complete — first-quarter 2020. Spaces will occupy 2,029 square feet on the ground floor and space on the second and third floors of the five-story, Class A office building. The lease brings One Cocowalk to 50 percent leased. This will be Spaces’ third location in Florida. Spaces operates 160 locations in 80 countries. Coconut Grove is located about four miles south of downtown Miami. Randy Carballo and Gavin Macphail of JLL’s Miami office represented the tenant in the lease transaction. Tere Blanca, Danet Linares and Juan Ruiz of Blanca Commercial Real Estate represented the landlord One Cocowalk, a joint venture comprising Federal Realty Investment Trust, Grass River Property and Comras Co.

January 18, 2019

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