Office

Skender Starts Interior Construction of Spaces Headquarters in Chicago

by Kristin Harlow April 23, 2019

CHICAGO — Skender has started interior construction of the Chicago headquarters for Spaces, a coworking company owned by IWG. Spaces will fully occupy the former Sports Authority building, which spans eight stories and 80,000 square feet and is located at the corner of LaSalle and Ontario streets. Project features include a roof terrace, café, gym, reception area, conference rooms, private offices and open office workstation areas. Next Realty is the building owner. Skender is collaborating with WB Interiors, Loring Engineers and Himes Associates. Completion is slated for September.

April 23, 2019

Florida Loans Office Southeast

SunTrust Originates $40M in Acquisition Financing for Jacksonville Office Property

by Alex Tostado April 22, 2019

JACKSONVILLE, FLA. — SunTrust Bank’s commercial real estate division has originated $40 million in acquisition financing for Gramercy Woods Southside, an office complex in Jacksonville. Anchored by Aetna Life Insurance Co., the property comprises 420,000 square feet of rentable space and two structured parking garages. The borrower was Atlanta-based Glenfield Capital. Specific loan terms were not disclosed.

April 22, 2019

Industrial Leasing Activity Massachusetts Northeast Office

R.W. Holmes Negotiates 14,011 SF Lease for Flex Space in Burlington, Massachusetts

by Taylor Williams April 22, 2019

BURLINGTON, MASS. — R.W. Holmes Commercial Real Estate has negotiated a 14,011-square-foot lease for flex space at 141 Middlesex Turnpike in Burlington, about 20 miles northwest of Boston. The tenant was Zimmer Northeast, a subsidiary of Zimmer Biomet (NYSE: ZBH), which manufactures and distributes orthopedics products. Mike Ogasapian and Garry Holmes of R.W. Holmes represented the tenant in the lease negotiations. Jordan Yarboro and Madison Chambers of JLL represented the landlord, The Berman Cos.

April 22, 2019

Acquisitions Office Texas

Marcus & Millichap Brokers Sale of 29,770 SF Office Building in Arlington

by Taylor Williams April 22, 2019

ARLINGTON, TEXAS — Marcus & Millichap has brokered the sale of Avenue J, a 29,770-square-foot office building in Arlington. The multi-tenant property was built in the 1980s and offers proximity to Interstate 30. Cody Payne and Wayne Bares of Marcus & Millichap marketed the property on behalf of the seller and procured the buyer, both of which were private investors. Additional terms of sale were not disclosed.

April 22, 2019

Acquisitions Colorado Office Western

Cushman & Wakefield Directs $9.1M Sale of Office Building in Colorado Springs

by Amy Works April 22, 2019

COLORADO SPRINGS, COLO. — Cushman & Wakefield has arranged the sale of an office building, located at 745 Space Center Drive in Colorado Springs. A private individual sold the property for $9.1 million, or $177 per square foot. Booz Allen Hamilton fully occupies the two-story, 51,700-square-foot office building, which features covered parking. The property was constructed in 2006. Aaron Johnson and Jon Hendrickson of Cushman & Wakefield’s Denver-based Capital Markets Group facilitated the transaction. The buyer was not disclosed.

April 22, 2019

Leasing Activity Office Texas

NAI Partners Negotiates 3,564 SF Office Lease at Republic Square in Houston

by Taylor Williams April 19, 2019

HOUSTON — NAI Partners has negotiated a 3,564-square-foot office lease for engineering and design firm Maser Consulting at Republic Square, a 324,000-square-foot property located at 13501 Katy Freeway in Houston. Randy Nerren, Jacob Aldridge and Zach Leger of NAI Partners represented the landlord in the lease negotiations. Jack Warmington of Newmark Knight Frank represented Maser Consulting.

April 19, 2019

Acquisitions Nevada Office Western

Moonwater Capital Sells 58,950 SF Las Vegas Office Property for $19.9M

by Amy Works April 19, 2019

LAS VEGAS — TSSP – Moonwater Capital has completed the disposition of an office property within the Summerlin master-planned community in Las Vegas. A California-based private investment entity acquired the property for $19.9 million, or $338 per square foot. Located at 1451 Center Crossing Road, the building features 58,950 square feet of Class A office space. An undisclosed Fortune 500 company occupies the single-tenant property. Tivon Moffitt, Peter Bauman and Bret Davis of JLL represented the seller, while Kase Abusharkh of The Kase Group represented the buyer in the deal.

April 19, 2019

Leasing Activity Office Texas

Global Law Firm Signs 57,315 SF Office Lease in Downtown Houston

by Taylor Williams April 18, 2019

HOUSTON — Global law firm White & Case LLP has signed a 57,315-square-foot office lease at 609 Main, a 48-story office tower owned by Hines in downtown Houston. The law firm will occupy the 29th and 30th floors. The lease brings the building’s occupancy to 84 percent. Michael Anderson and Damon Thames of Colvill Office Properties represented Hines in the lease negotiations. David Bale of JLL represented White & Case.

April 18, 2019

Industrial Leasing Activity Northeast Office Rhode Island

Pharmaceutical Supplier Signs 32,025 SF Flex Lease in Smithfield, Rhode Island

by Taylor Williams April 18, 2019

SMITHFIELD, R.I. — High Purity New England Inc., a manufacturer and distributor of products for the pharmaceutical industry, has signed a 32,025-square-foot flex lease at Smithfield Office Center, about 15 miles northwest of Providence. Dan Cregan of CBRE represented High Purity New England in the lease negotiations. Alden Anderson, also of CBRE, represented the landlord, Thurber Properties LLC. Smithfield Office Center is a 38-acre, 180,000-square-foot campus located off Route 7 at the junction of Interstate 295.

April 18, 2019

Acquisitions California Office Western

Voit Real Estate Negotiates $9.5M Purchase of Cornerstone Office Center in San Diego

by Amy Works April 18, 2019

SAN DIEGO — Voit Real Estate Services has negotiated the purchase of Cornerstone Office Center, located at 6020 Cornerstone Court West in San Diego’s Sorrento Mesa submarket. A private investor acquired the property from Newport Beach, Calif.-based MIG Real Estate for $9.5 million. Todd Holley of Voit Real Estate Services represented the buyer, while Louay Alsadek and Hunter Rowe of CBRE represented the seller in the deal. At the time of sale, Cornerstone Office Center was 100 percent leased. The three-story property features 43,210 square feet of Class B office space. Tenants include Motive Interactive, Rohm Semiconductor and Microchip Technologies.

April 18, 2019

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