BROOKFIELD, WIS. — Korndoerfer Homes Inc. has renewed its 6,414-square-foot office lease in Brookfield. The home building company occupies space at 175 N. Corporate Drive. Dan Wroblewski, Matt Fahey, Joe Moritz, Ben Anderson and Brandon Ciebell of Colliers International brokered the lease transaction.
MOUNTAIN VIEW, CALIF. — Renault & Handley Mid-Peninsula Joint Venture has received a $103 million senior loan for the development of 600 Clyde Avenue, a 189,974-square-foot office building fully preleased to Google in Mountain View. PCCP LLC provided the loan for the five-story building, which will be situated on 5.2 acres. The property is slated for delivery in July 2020. When completed, the project will feature a 9,600-square-foot sky deck with outdoor seating and working stations, a fitness center, employee showers and bike storage. Additionally, an adjacent four-story parking garage will accommodate circulation of full-size employee shuttle buses, which are commonly used by large tech employers in the Bay Area. The property is near the intersection of U.S. Highway 101 and State Route 237, about three miles from downtown Mountain View and the Mountain View Caltrain station. Mountain View-based Google currently operates in 24 office buildings in 13 states and Washington, D.C. In February, the company announced it will invest $13 billion in 2019 to expand its data centers and office footprint to 24 states. Renault & Handley Mid-Peninsula Joint Venture originally acquired the site located at 580 and 620 Clyde Ave. in 1968. The firm developed the land into …
DECATUR, GA. — TerraCap Management has acquired 160 Clairemont, a 122,700-square-foot office building in Decatur. The property is situated six miles east of downtown Atlanta and offers amenities such as a fitness center, onsite café and a conference center. Samir Idris and Davide Meline of Cushman & Wakefield represented the undisclosed seller in the transaction. Brian Linnihan and Richard Henry of Cushman & Wakefield worked on behalf of the buyer to arrange acquisition financing through Delta Community Credit Union. The sales price was not disclosed.
CARROLLTON, TEXAS — Pharmaceutical firm AmerisourceBergen has opened a new office at a 300,000-square-foot office building in northern Dallas suburb of Carrollton. Local firm Billingsley Co. developed the property, which offers amenities such as tech-enabled conference and business centers, specialized mother rooms, fitness and yoga centers, a coffee shop, café, micro-market and access to walking and biking trails. Gensler served as the project architect and StructureTone Southwest was the general contractor. Billingsley will also manage the property.
NEW YORK CITY — SL Green Realty Corp. has signed First Republic Bank to a 211,521-square-foot lease at 460 W. 34th St. in the Hudson Yards neighborhood on Manhattan’s west side. First Republic Bank will occupy a portion of the ground and mezzanine floors with two new retail bank branches, as well as the entire second through sixth floors for its corporate office space. The lease term is 15 years. SL Green, which is self-described as the largest office landlord in New York City, had previously entered into a contract to purchase a majority and controlling interest in the building and is scheduled to close on the acquisition in May. Media outlets reported at the time that the acquisition values the 20-story office building at $440 million. SL Green plans to redevelop the 638,000-square-foot, Class A office tower with work to commence immediately following the acquisition. According to SL Green, the transaction marks the company’s first major investment in the Hudson Yards neighborhood. The building, located at the intersection of Hudson Yards and Manhattan West, was once known as the Master Printers Building. The redevelopment plans will honor that industrial heritage, according to SL Green. The project will include relocation …
ATLANTA — Columbia Property Trust has sold One and Three Glenlake Parkway, a 711,000-square-foot office campus in Atlanta’s Central Perimeter submarket, for $227.5 million. Columbia recently completed renovations to the campus, which led to the leasing of 460,000 square feet since 2017. Columbia purchased One and Three Glenlake in 2003 and 2008, respectively. The campus is situated 15 miles north of downtown Atlanta. The buyer was an affiliate of Starwood Capital.
NASHVILLE, TENN. — GBT Realty has unveiled plans for 1221 Broadway, an office building in downtown Nashville. Brentwood, Tenn.-based GBT completed the demolition of the former Firestone at the site. The new Class A office building will range from 365,000 to 500,000 square feet depending on the needs of potential tenants. The building will rise between 23 and 27 stories. The asset will also include 7,000 square feet of ground-level retail space, a 10th floor amenity deck and café, and parking on the property. The design team includes architect Gresham Smith & Partners and general contractor Brasfield & Gorrie. Taylor Hillenmeyer, Janelle Gallagher, Frank Thomasson and Bryan Fort of CBRE will market handle leasing efforts for the property. A timeline for construction was not disclosed.
LOS ANGELES — CBRE has arranged the $90 million sale of 22 medical buildings in Florida, Georgia, Alabama and Illinois. The sale includes the Dermatology Solutions Group portfolio, an eight-building portfolio totaling 51,505 square feet in Alabama and Florida. The portfolio is fully occupied by Dermatology Solutions Group, which signed 10-year leases at each site at closing. Physician Group sold the properties to a public single-tenant REIT. A 47,936-square-foot building situated at 2061 Peachtree St. in Atlanta’s Buckhead district was included in the sale as well. The asset was built in 2013 and fully occupied by tenants including Georgia Hand, Shoulder & Elbow (GHSE), the largest hand and upper extremity practice in Georgia. Physician Group sold the building to a public healthcare REIT. The other 13 buildings total 197,385 square feet and are located in Chicago. The undisclosed developer sold the assets to Institutional Fund.
RICHARDSON, TEXAS — General contractor Hill & Wilkinson has entered into an agreement with landlord Pillar Commercial to extend and expand its office space in Richardson, a northeastern suburb of Dallas. The company will now occupy 58,000 square feet at 2703 Telecom Parkway. James Cooksey, Garrison Efird and Adam Faulk of Newmark Knight Frank represented Hill & Wilkinson in the lease negotiations.
PITTSBURGH — CBRE has arranged a 112,481-square-foot, full-building office lease at Park Place Corporate Center Two in Pittsburgh on behalf of the owner, FAC Park Place Two LLC. Located at 2000 Commerce Drive, the property was fully renovated in 2010. Nick Francic of JLL represented the tenant, energy company Williams Field Services Group, in the transaction.