Office

Hamilton Partners Completes Renovation of 3.5 MSF Business Park in Itasca, Illinois

by Kristin Harlow May 31, 2019

ITASCA, ILL. — Hamilton Partners has completed the renovation of its Hamilton Lakes Business Park in Itasca. The property is home to more than 3.5 million square feet of office space. In April, Hamilton completed renovations of 500 Park and One Pierce Place, which comprise approximately 1 million square feet. Balfour Pacific and Hamilton invested more than $7 million in both buildings. At One Pierce Place, Hamilton renovated the front entrance and lower lobby, adding a Wi-Fi lounge and conference center. At 500 Park, the renovation included an update to the entrance and lobby as well as the lower-level concourse level. Tenants now have access to a Wi-Fi lounge and a patio overlooking the walking path. Farmers Fridge and Foodsby have been added to increase food options. Hamilton also made updates to 555 Pierce, 333 Pierce and 150 Pierce, which now features a shared office space.

May 31, 2019

Development Office Washington Western

Hudson Pacific to Develop Full-Block Office Tower at Washington State Convention Center in Seattle

by Amy Works May 30, 2019

SEATTLE — Hudson Pacific Properties has purchased the condominium rights to build a fully entitled office development for $86 million before credits, prorations and closing costs. The property will be adjacent to the Washington State Convention Center (WSCC) Addition in Seattle. The 538,000-square-foot office tower will be located at the intersection of Boren Avenue and Olive Way in Seattle’s Denny Triangle neighborhood. The 1.2-acre, full-block site is fully entitled for a 16-story office tower. The WSCC Addition’s development team, including Pine Street Group as pre-development manager and LMN as architect, has already performed extensive predevelopment and design work. Targeting LEED Gold certification, the tower will feature 526,000 square feet of office space and 12,000 square feet of retail space. Amenities will include more than 10,000 square feet of outdoor space, bike storage, showers and lockers, as well as direct access to the WSCC Addition’s pedestrian-level retail experience. Additionally, the site offers transportation access to Interstate 5, Sound Transit’s Link Light Rail, the Seattle Streetcar network and regional bus service. Hudson Pacific estimates total development costs, including the purchase price, in the range of $300 million to $350 million. Construction is slated to begin as early as mid-2021 with delivery for …

May 30, 2019

Acquisitions Office Texas

Colliers Brokers Sale of Houston Office Complex Totaling 234,746 SF

by Taylor Williams May 30, 2019

HOUSTON — Colliers International has brokered the sale of a two-building, 234,746-square-foot office complex in Houston. Located at 263 N. Sam Houston Parkway, one building totals 87,611 square feet and the other spans 147,135 square feet and includes a four-story parking garage. David Carter of Colliers represented the seller, BH Properties, in the transaction for the Class B buildings. The buyer was not disclosed, but the property is listed on the Houston portfolio page of Lincoln Property Co.

May 30, 2019

Cooley-Ranch-Professional-Center-Colton-CA

Acquisitions California Office Western

Marcus & Millichap Arranges $1.2M Sale of Cooley Ranch Professional Center in the Inland Empire

by Amy Works May 29, 2019

COLTON, CALIF. — Marcus & Millichap has arranged the sale of Cooley Ranch Professional Center, an office property located in Colton. An individual/personal trust sold the property to an undisclosed buyer for $1.2 million. Located at 1325 E. Cooley Dr., the two-story building features 16,554 square feet of office space. Drew Wetherhold and Kevin Struve of Marcus & Millichap’s Ontario, Calif., office represented the seller in the deal.

May 29, 2019

Acquisitions Office Texas

Equus Capital Sells 193,998 SF Office Building in Metro Houston to Glazer Properties

by Taylor Williams May 29, 2019

SUGAR LAND, TEXAS — Equus Capital Partners Ltd., a Philadelphia-based private equity firm with five other offices around the country, has sold One Sugar Creek Center, a 193,998-square-foot office building located in the southwestern Houston suburb of Sugar Land. The asset was sold to Glazer Properties, an investment firm headed by Tampa Bay Buccaneers co-owner Kevin Glazer. The 11-story, Class A property was built in 1983 on 4.5 acres and was renovated in 2017 to feature a new lobby, added security systems, elevator cab upgrades, a new conference center and refreshed landscaping. Additional amenities include a deli, bank branch and an outdoor patio and cornhole court. The property was 90 percent leased at the time of sale to tenants such as Comerica Bank, Wholesome Sweeteners and Amerex Brokers Natural Gas. Christopher Locatell, Mark Ledger and Greg Chapin of Equus handled the transaction for their firm along with Dan Miller, Marty Hogan and Johnny Kight of HFF.

May 29, 2019

Leasing Activity Office Texas

Kirksey Architecture Opens New Office in South Austin

by Taylor Williams May 29, 2019

AUSTIN, TEXAS — Kirksey Architecture, which has more than $500 million worth of projects underway throughout Central Texas, has opened a new, 2,500-square-foot office at 1701 Directors Blvd. in south Austin. The company’s main office is located in Houston. Executive vice president Benito Guerrier and vice presidents David Dalton and Kathleen Jircik will head the company’s Austin office. Kirksey officially took occupancy of the space in June 2018.

May 29, 2019

Acquisitions Office Texas

Bright Realty Brokers Sale of 2,144 SF Office Condo in McKinney, Texas

by Taylor Williams May 29, 2019

MCKINNEY, TEXAS — Metro Dallas-based Bright Realty has brokered the sale of a 2,144-square-foot office condominium located at 501 Medical Center in McKinney, a northern suburb of Dallas. The property offers access to both U.S. Highway 75 and the Sam Rayburn Tollway. Britton Lankford and Nick Miller of Bright Realty represented the seller in the transaction. The buyer and sales price were not disclosed.

May 29, 2019

Georgia Leasing Activity Office Southeast

Spaces Signs 40,000 SF Office Lease in Atlanta’s Central Perimeter Submarket

by Alex Tostado May 29, 2019

ATLANTA — Coworking firm Spaces will occupy 40,000 square feet of Building I within The Collective at Concourse in Atlanta’s Central Perimeter submarket. Spaces will occupy the entire eighth floor, as well as conference space, by November. Totaling 751,093 square feet, Buildings I, II and IV at The Collective at Concourse are undergoing a $6 million renovation to improve lobbies with collaboration spaces, natural light, new conference centers and a new greenspace for community events. This will be Spaces’ sixth location in metro Atlanta.

May 29, 2019

Florida Loans Office Southeast

Aztec Group Provides $11.9M Loan for Redevelopment of Office Building in Miami

by Alex Tostado May 28, 2019

MIAMI — Aztec Group has provided an $11.9 million loan to 4141 Design LLC, an affiliate of JCube Development, to redevelop an office building in Miami. The borrower plans to fully renovate the 15,843-square-foot building to include 6,100 square feet of ground-level retail space, 4,400 square feet of office space on the second and third floors and 4,000 square feet of rooftop event space. The building, known as 4141 International Design Center, was built in 1961 and used to be used as a design hub housing more than 150 designers and architects. A timeline for construction was not disclosed.

May 28, 2019

Acquisitions Illinois Industrial Lee & Associates Midwest Office

Lee & Associates Negotiates Sales of Office, Industrial Buildings in St. Charles, Illinois

by Kristin Harlow May 28, 2019

ST. CHARLES, ILL. — Lee & Associates has negotiated the sale of two buildings in St. Charles for undisclosed prices. The first was a 5,100-square-foot office building located on School Road. Jay Farnam of Lee & Associates represented the buyer, AMI Group Inc. The second transaction was the sale of a 13,250-square-foot industrial building located at 2541 DuKane Drive. Mike Androwich Jr. of Lee & Associates represented the buyer, El Milagro.

May 28, 2019

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