Office

Tenet Healthcare Signs 372,000 SF Office Lease in Metro Dallas

by Taylor Williams June 11, 2019

FARMERS BRANCH, TEXAS — Tenet Healthcare, a publicly traded provider, has signed a 372,000-square-foot office lease to occupy the entirety of International Plaza I, a 13-story tower located in the northern Dallas suburb of Farmers Branch. Moody Younger and Kathy Permenter of Younger Partners represented Tenet Healthcare in the lease negotiations. Chris Taylor, Trey Smith, Matt Schendle and Lauren Napper of Cushman & Wakefield represented the landlord, Taconic Capital Advisors, which acquired the asset last summer.

June 11, 2019

Leasing Activity Office Texas

Energy Firm Expands Office Headquarters in Uptown Dallas by 16,701 SF

by Taylor Williams June 11, 2019

DALLAS — Lucid Energy Group, which operates in the midstream space of the natural gas industry, has signed a 16,701-square-foot office lease expansion at Citymark at Katy Trail in Uptown Dallas. The lease effectively doubles the size of Lucid’s current headquarters space to 34,585 square feet. The firm now occupies two full floors at the building, which is located at 3100 McKinnon St. Richmond Collinsworth and Melanie Hughes of Bradford Commercial Real Estate Services represented the landlord in the lease negotiations. Andy Leather of JLL represented the tenant.

June 11, 2019

5-Garret-Mountain-Plaza-Woodland-Park-New-Jersey

Development New Jersey Northeast Office

MDC to Redevelop 101,880 SF Office Building in Woodland Park, New Jersey

by Taylor Williams June 11, 2019

WOODLAND PARK, N.J. — Mountain Development Corp. (MDC) will reposition 5 Garret Mountain Plaza, a 101,880-square-foot office building in Woodland Park, located in the northern part of the Garden State. The freestanding property is situated on Interstate 80 and is part of a 30-acre campus. MDC will undertake a full renovation, including upgrades to HVAC systems and the introduction of new amenities like a rooftop deck and surrounding walking trails. Newmark Knight Frank will handle leasing of the property following completion of the project, a timeline for which was not disclosed.

June 11, 2019

Leasing Activity New York Northeast Office

Greenhill Signs 78,000 SF Office Lease at Manhattan’s Rockefeller Center

by Taylor Williams June 11, 2019

NEW YORK CITY — Global investment bank Greenhill & Co. has signed a 78,000-square-foot office lease at the former Time & Life building within Manhattan’s Rockefeller Center. Rockefeller Group, which owns the 48-story building located at 1271 Avenue of the Americas, is wrapping up a $600 million redevelopment program that is scheduled for completion by year’s end. Following Greenhill’s relocation from 300 Park Avenue in 2020, the building will be close to fully leased. Michael Geoghegan, Andrew Sussman and Peter Gamber of CBRE represented Greenhill in the lease negotiations. Mary Ann Tighe, Howard Fiddle, John Maher, Evan Haskell and Dave Caperna of CBRE represented Rockefeller Group, along with internal associates Ed Guiltinan and Jennifer Stein.

June 11, 2019

Development Georgia Office Southeast

Baptist Church in Atlanta Plans 27,200 SF Renovation of Historic Buildings to House Office Space

by Alex Tostado June 10, 2019

ATLANTA — Wheat Street Baptist Church will convert two historic buildings on its campus into office space intended for nonprofit organizations. American South Real Estate Fund (ASREF) is providing the senior loan of $3.5 million for the renovations. American Legion Hall is a 5,200-square-foot building that was constructed in multiple phases beginning in 1930, and the Christian Education Building is a 22,000-square-foot building that was built in the 1950s. Leaders in the church plan to target tenants that work with the homeless, local school teachers and underprivileged teens. Wheat Street Baptist is situated in Atlanta’s Sweet Auburn district, which is one mile east of downtown Atlanta and near the Martin Luther King Jr. National Historical Park district. Construction is expected to begin in early August and take nine to 12 months to complete.

June 10, 2019

Florida Leasing Activity Office Southeast

WeWork to Occupy Four Floors in Miami’s Tallest Office Building

by Alex Tostado June 10, 2019

MIAMI — WeWork has signed a four-floor lease within the 55-story Southeast Financial Center, Miami’s tallest office building. WeWork will move into the space in phases, with two floors expected to open by the end of 2019 and the other two floors expected to be ready in summer 2020. Southeast Financial Center is located at 200 S. Biscayne Blvd. in downtown Miami. Southeast Financial Center is attached to The Cube, a 15-story office building that will offer WeWork members and others access to a fitness center, 30,000-square-foot outdoor plaza and access to I-95. Eric Groffman and Donald Cartwright of JLL represented the landlord, Ponte Gadea Biscayne LLC, in the lease negotiations. Matthew Goodman and Jeffrey Gordon of JLL represented WeWork.

June 10, 2019

Acquisitions Office Texas

Joint Venture Sells 81,660 SF Office Building Leased to H-E-B in East Austin

by Taylor Williams June 10, 2019

AUSTIN, TEXAS — A joint venture between EverWest Real Estate Investors, George Oliver Cos. and WHI Real Estate Partners has sold UpCycle, an 81,660-square-foot office building located on Sixth Street in East Austin. The property was completed in 2018 as an adaptive reuse project and is fully leased to Texas-based grocer H-E-B. Amenities include patio space, collaborative areas, a coffee bar, fitness center and conference space. Drew Fuller, Kelsey Roop Shebay, Coler Yoakam and Michael George of HFF represented the joint venture in the transaction. The buyer was not disclosed.

June 10, 2019

Leasing Activity New York Northeast Office

Payroll, HR Software Firm Signs 270,000 SF Office Lease in Manhattan

by Taylor Williams June 10, 2019

NEW YORK CITY — Justworks, a provider of payroll, HR and compliance software, has signed a 270,000-square-foot office lease at 55 Water St. in Manhattan. Beginning in the second quarter of 2020, the company will relocate to the 3.8 million-square-foot complex, more than doubling the size of its current space at 601 W. 26th St. Howard Fiddle, Evan Haskell, Brad Gerla, Dave Caperna and Mary Ann Tighe of CBRE represented the landlord, New Water Street Corp., a subsidiary of the Retirement Systems of Alabama, in the lease negotiations. Chris Helgesen, Peter Trivelas, Dirk Hrobsky and Gary Ceder of Cushman & Wakefield represented Justworks. The average asking rent at 55 Water St., which was recently repositioned, is $58 per square foot.

June 10, 2019

Acquisitions Office Texas

Triten Real Estate Buys 90,795 SF Office Building in Dallas

by Taylor Williams June 7, 2019

DALLAS — Triten Real Estate Partners has purchased Tollway Place, a 90,795-square-foot office building located at 15110 North Dallas Parkway in Dallas in an off-market transaction. Triten is underway on a renovation program at the six-story building and plans to add a ground-floor restaurant space that will be occupied by Velvet Taco. Additional renovation plans include upgrades to the lobby and elevators, as well as the addition of a corporate lounge and conference center. Perkins + Will is the architect for the renovation project, which is expected to be complete this fall. CBRE is marketing Tollway Place for lease.

June 7, 2019

Acquisitions Connecticut Northeast Office

Rubenstein Acquires 450,000 SF Office Building in Stamford, Connecticut

by Taylor Williams June 7, 2019

STAMFORD, CONN. — Rubenstein Partners LP, an investment firm focused on the office sector, has acquired 600 Washington Boulevard, a 450,000-square-foot office building in Stamford, about 40 miles north of New York City. The sales price was not disclosed. The property was originally built in 2009 to serve as the headquarters of the Royal Bank of Scotland and was 85 percent leased at the time of sale. Tenants include UBS and Bank of America. JLL represented the seller, NatWest Markets, which is also a tenant at the building, in the transaction.

June 7, 2019

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