ARLINGTON, TEXAS — Bradford Commercial Real Estate Services has brokered the sale of a 14,250-square-foot office/warehouse property located at 1901 Southeast Parkway in Arlington. The flex property currently has 1,300 square feet available for lease. Shane Benner and Nick Talley of Bradford Commercial represented the seller, which developed the asset in 1985, in the transaction. Nathan Vasseur of Vasseur Commercial Real Estate Services represented the buyer. Both parties were private investors
DES PLAINES, ILL. — Cawley Chicago has negotiated three lease transactions totaling 17,432 square feet at 1111 E. Touhy Ave. in Des Plaines. Cawley represented the landlord, Siete7 LLC in each lease. Architectural and engineering firm Kellermeyer, Godfryt Hart signed a lease for 10,153 square feet. Andrew Kaplan of CBRE represented the tenant. RelaDyne, a distributor of packaged and bulk oils, lubricants and fuels, leased 6,346 square feet. Kevin Segerson and Dan Graham of CBRE represented the tenant. Ryan Freed, Tony Russo and Rawly Lantz of Cawley also arranged a nearly 1,000-square-foot lease with an undisclosed tenant. Siete7 plans to roll out new amenities and property enhancements at the five-story building this summer.
SAN JOSE, CALIF. — Adobe Systems Inc. has broken ground on the Adobe North Tower, which will become the fourth tower at the company’s downtown San Jose headquarters. The all-electric tower will house 4,000 employees for Adobe, which was founded in 1982 and has been headquartered in San Jose since 1994. When completed in 2022, the North Tower will connect to Adobe’s existing campus via a pedestrian bridge extending over San Fernando Street, and will also include retail space.
SEATTLE — EQ Office, an office portfolio operating company wholly owned by the Blackstone Group, has acquired U.S. Bank Centre and 999 Third Ave. in Seattle. The acquisitions increase EQ’s investment to 3.1 million rentable square feet of Class A office space in the city. EQ will manage both properties and plans to reposition them to accommodate Seattle’s evolving workforce. Both buildings are located in Seattle’s central business district. Tenants include U.S. Bank, DocuSign and Wells Fargo. EQ currently manages two properties in Seattle, The Exchange and 800 Fifth Ave. According to EQ, upon renovation U.S. Bank Centre will feature a retail marketplace catering both office tenants and area residents, while 999 Third Ave. will feature an improved exterior plaza area.
DENVER — RMR Office Property Fund LP has acquired Belleview Corporate Plaza, a two-building, 172,220-square-foot office property in Denver, for $39.1 million. Belleview Corporate Plaza is situated close to several retail and dining amenities and is near a light rail station. The property is 98 percent leased with a weighted average lease term of 6.5 years.
WHITE BEAR LAKE, MINN. — KW Commercial has brokered the sale of the Birch Lake Professional Building for $3.2 million. The two-story, 29,000-square-foot office building is located at 1310 Highway 96 in White Bear Lake, about 20 miles northeast of Minneapolis. The property is home to 28 tenants. David Lund and Andy Manthei of KW Commercial represented the buyer, Lenny Enterprises II LLP, in the 1031 tax-deferred exchange transaction. The seller was not disclosed.
NEW YORK CITY — Mission Capital Advisors has arranged a $15.2 million loan for The Box Factory, a former industrial building in Brooklyn that is being redeveloped into a 65,837-square-foot office and entertainment complex. Proceeds will be used to refinance construction debt and further redevelop the property. Jonathan More, Ari Hirt and Lexington Henn of Mission Capital arranged the financing on behalf of the project development team, which is led by Brickman Real Estate and Hornig Capital Partners. Construction began in 2018. Pine River provided the loan.
NEW YORK CITY — Knotel, a provider of flexible office space, has inked a deal to lease 12,500 square feet at 80 White Street in the Tribeca area of lower Manhattan. The company will occupy the third and fourth floors of the recently renovated building beginning in September. Gregory Gang and Catherine O’Toole of Lee & Associates represented the landlord, General Hardware Manufacturing Co., in the lease negotiations. Knotel now has more than 40 locations throughout New York City.
NEW YORK CITY — ABS Partners Real Estate has negotiated a 9,903-square-foot office lease at 2417 Third Ave. in the Mott Haven neighborhood of The Bronx on behalf of workforce development firm Grant Associates. Andy Udis and Alison Miller of ABS Partners represented Grant Associates, which also recently leased 7,000 square feet at 1825 Park Avenue in Harlem. Mitch Arkin of Cushman & Wakefield and Ellen Israel of JRT Realty represented the landlord, Savanna and Hornig Capital Partners.
VIRGINIA BEACH, VA. — Divaris Real Estate Inc. has acquired six properties totaling 232,057 square feet in Hampton Roads. The acquisitions include shopping centers Las Gaviotas Shopping Center, a 90,505-square-foot, Food Lion-anchored property in Chesapeake; and Cypress Run, a 25,000-square-foot, Kroger shadow-anchored property in Smithfield. The two office buildings are the 76,024-square-foot Northampton Executive Center and the 10,000-square-foot 2125 McComas Way, both in Virginia Beach. The medical office building and two-building mixed-use properties are also in Virginia Beach. The seller(s) and sales prices were not disclosed.