HOUSTON — Life Time Inc., an owner-operator of health clubs across the country, will bring a 56,000-square-foot athletic facility and 38,000-square-foot coworking space to GreenStreet, an office and retail property in downtown Houston by local developer Midway. The facility will be located at 1201 Main St. and will offer two floors featuring a range of health and wellness amenities combined with coworking space. The opening is scheduled for 2020.
CHICAGO — Developers Bob Wislow and Camille Julmy have selected Clayco to construct a 12-story office development in Chicago’s West Loop. Located at 215 N. Peoria St., the $26 million mid-rise project will include a ground-level restaurant and lobby. Floors two through four will feature a 45-space parking garage and floors six through 12 will be leasable office space. Plans also call for an amenity rooftop. Clayco plans to break ground next month. Clayco’s in-house design firms, BatesForum and LJC Collaborative, make up the project team. CBRE will market the property for lease.
PLYMOUTH, MINN. — Ten Capital Management (TCM) has acquired Atria Corporate Center in Plymouth, located about 15 miles west of downtown Minneapolis, for an undisclosed price. The 358,941-square-foot office property was built in the late 1980s and substantially renovated in 2017. Atria offers food service, a complimentary coffee bar, fitness center, locker room with showers, training center, onsite management and heated parking. The seller was not disclosed.
DANBURY, CONN. — Cushman & Wakefield has arranged a 30,000-square-foot lease for Christian-nonprofit organization Guideposts at 39 Old Ridgebury Road in Danbury. Built in 1982 as the headquarters of Union Carbide, the property consists of 700,000 square feet of office space, 400,000 square feet of residential apartments and 100,000 square feet of conference and event space. Adam Klimek, Kathleen Fazio, Meredith Siburn, Bill Montague and Brian Scruton of Cushman & Wakefield represented the landlord, Summit Development, in the transaction. Trip Hoffman of Cushman & Wakefield represented Guideposts.
AUSTIN, TEXAS — Amazon (Nasdaq: AMZN) will expand its Austin Tech Hub and create 800 new jobs by 2020, the company announced today. The tech giant will move into a 145,000-square-foot office space within The Domain, a 304-acre mixed-use development by Austin-based Endeavor Real Estate Group. Dallas-based TIER REIT is the project partner behind The Domain’s office buildings, which will eventually total 2.1 million square feet of Class A space. Amazon’s space will be housed within Domain 10, a 15-story, 299,673-square-foot building. The Austin Tech Hub is one of 17 such North American facilities operated by Amazon. More than 20,000 people are employed across the 17 hubs; Austin employees focus mainly on developing Amazon Web Services (AWS), Amazon Business, Amazon devices, video game designing and advertising. Amazon already employs approximately 6,600 workers in the Austin area. This employee base includes more than 1,000 corporate-level employees, 3,000 employees in the nearby San Marcos warehouses and 2,600 workers through Whole Foods, according to The Austin American-Statesman. Amazon has created more than 22,000 jobs in Texas since 2011, including more than 1,000 in the past four years, according to Terry Leeper, general manager of Amazon’s Austin Tech Hub. During that same period, the …
SEATTLE — Real estate investment firm Ponte Gadea has acquired Troy Block, an 800,000-square-foot, Amazon-occupied office complex in Seattle. Although the price was not disclosed, The Puget Sound Business Journal was first to report it at $740 million. The full-block, two-building property is located at 300 Boren Avenue North in the South Lake Union district of Seattle. Miami-based Ponte Gadea is led by Spanish billionaire Amancio Ortega, a fashion mogul whose company is parent to retail brand Zara. Ortega’s net worth is $67 billion, making him the fifth richest person in the world, according to Bloomberg. Seattle-based developer Touchstone purchased the 2.5-acre property for $18.4 million in 2011 and built two L-shaped office buildings on the block, according to The Seattle Times. Amazon leases the entire office portion of the project, which opened in 2016 and 2017. Ground-floor retail at the development also includes an Amazon Go store, Maslow’s restaurant and Cascade Coffee Works. Mark Gibson, Stephen Conley, Manny De Zarraga, Michael Leggett, Gerry Rohm, Coleman Benedict, Kevin Freels and Logan Greer of HFF represented the seller, a partnership between USAA Real Estate and Touchstone, in the transaction. This transaction represents the largest single asset trade by volume in Seattle history, …
KYLE, TEXAS — South Korea-based ENF Technology Co., Ltd., a leading provider of electronic materials to Samsung and the U.S. high-tech market, will build a $45 million headquarters and advanced manufacturing facility in Kyle, about 20 miles south of downtown Austin. The 100,000-square-foot facility, construction of which is expected to be complete in 2020, will be situated on 25 acres within the Plum Creek master-planned community. The company expects to hire 45 to 50 new workers in the short term and could expand to 80 employees in the future. ENF’s facility will also serve large tech firms like Micron, Texas Instruments and Intel. Jerry Heare, SIOR at Austin-based Commercial Industrial Properties, represented ENF in the site selection.
SAN ANTONIO — Worth & Associates has broken ground on two commercial properties totaling 220,000 square feet in San Antonio. RidgeWood Plaza II will be a 123,000-square-foot office building that will be situated on 15 acres, and TSAOG’s Ridgewood Orthopaedic Center will be a 97,000-square-foot medical facility. Both projects, which are situated within RidgeWood Park, are slated for a summer 2020 completion. The site also features two restaurant pad sites fronting U.S. Highway 281.
LITTLETON, MASS. — Nauset Construction, a locally based general contractor, will soon begin construction of a 60,000-square-foot office project in Littleton, about 35 miles west of Boston, that will serve as the new headquarters for Workers Credit Union. Designed by Maugel Architects, the project will renovate the existing 44,000-square-foot structure and deliver an additional 16,000 square feet of Class A space. Amenities will include a conference room, café, outdoor dining patio and a fitness center.
MILWAUKEE — North Wells Capital LLC has received a $26.6 million loan for the ongoing renovation and redevelopment of the former Bon-Ton headquarters in Milwaukee. Meridian Capital Group arranged the loan with A10 Capital. North Wells acquired the 429,000-square-foot property in May 2017 and renamed it HUB640 after its address at 640 N. 4th St. North Wells is gutting and renovating the building to provide offices for multiple companies, and is marketing the first floor to new retailers. The $26.6 million loan provides long-term financing for the company’s purchase of the property and secures money to build out interior spaces for future tenants. The 120-year-old building served as the corporate headquarters for The Bon-Ton Stores, and as the flagship site of one of its retail brands, The Boston Store, since completion. Bon-Ton filed for bankruptcy in 2018 and was sold and liquidated.
