MCKINNEY, TEXAS — KDC will develop a 100,000-square-foot office campus in the northern Dallas metro of McKinney for SRS Distribution Inc., a wholesale provider of roofing and building products. The campus will be situated on 4.2 acres within Hub 121, a 22-acre mixed-use development. According to the incentive agreement signed with the McKinney Economic Development Corp., the move will aim to create more than 150 new jobs over the next 10 years.
ADDISON, TEXAS — Denver-based EverWest Real Estate Investors has arranged a $63 million loan for the refinancing of The Colonnade, a 1 million-square-foot office complex in the northern Dallas metro of Addison. The Class A property, which is owned by New York-based Fortis Property Group, was built in phases between 1983 and 1998, with $32.5 million in renovations completed between 2015 and 2017. The Colonnade’s tenants roster includes Hilton, United Surgical Partners and Zurich American Insurance. Property amenities include a fitness center with locker rooms, a retail store, conference center and an eight-story parking garage. Tom McCahill, Joe Chickey and Zi Chong of EverWest placed the five-year loan through UBS.
FORT WORTH, TEXAS — Team ProMark, a supplier of licensed sports merchandise, has relocated its headquarters from Colorado to Fort Worth, signing a 24,506-square foot office/warehouse lease at 5001 North Freeway. Nick Talley of Bradford Commercial Real Estate Services represented Team ProMark, which will occupy roughly half the space at the property for seven years, in the lease negotiations. Jeff Givens and Todd Hawpe of Transwestern represented the landlord, 5001 North Freeway LLC.
WAYNE, N.J. — CBRE has arranged the sale of the former Toys ‘R’ Us corporate headquarters in Wayne. The sales price was undisclosed. Located at 1 Geoffrey Way, the 621,000-square-foot property is situated on 191 acres overlooking a reservoir. The property was built in 1962 as the original headquarters for American Cyanamid and consists of two interconnected office buildings. Toys ‘R’ Us occupied the property for 16 years. Jeffrey Babikian, Robert L’Abbate, Allyson L’Abbate, Nor Ramos and Brian Godau of CBRE represented the seller, Toys ‘R’ Us Property Company I LLC, and Raider Hill Advisors, in the transaction. The buyer was undisclosed.
NEW YORK CITY — Marketing technology company Contently has signed a 13,146-square-foot lease at 44 Wall St. in Manhattan’s financial district. The company will relocate its headquarters from 598 Broadway to a portion of the 13th floor of the 24-story tower. Contently is the content marketing solution for a number of brands, including American Express, Bayer, Dell Technologies, JPMorgan Chase, Marriott and Walmart. Contently was represented in the transaction by Freddie Fackelmayer, Anthony Dattoma, and Zach Breit of CBRE. The building owner, EQ Office, was represented by Zachary Price, Michael Rizzo, Jeffrey Fischer and Caroline Merck of CBRE.
GREENSBORO, N.C. — CBRE|Triad and CBRE|Raleigh have arranged the sale of CentrePort Office Park, a four-building, 264,847-square-foot office park in Greensboro, to Deep River LLC. The sales price was not disclosed, though Triad Business Journal reports the sales price was $23.2 million. The buildings are located at 101, 200 and 202 CentrePort Drive and 7336 McCloud Road, about 12 miles west of downtown Greensboro and about six miles south of Piedmont Triad International Airport. Amenities include a fitness center, conference rooms and rotating food trucks. The CBRE|Triad and CBRE|Raleigh team of Ben Kilgore, Greg Wilson, Dodson Schenck and Matt King represented the seller, Petrus Partners, in the transaction.
NEW YORK CITY — HFF has arranged a $39.6 million construction loan for a 10-story, 34,364-square-foot boutique office building in Manhattan’s meatpacking district. Located at 76 8th Ave., the property will feature ground-floor retail, nine floors of office space and a common roof deck area for tenants. HFF secured financing on behalf of the borrower, Noviprop LLC and co-developer Plus Development. The lender was G4 Capital Partners. The project is scheduled for completion in summer 2020.
RICHMOND, VA. — Cushman & Wakefield | Thalhimer has brokered the $7.5 million sale of Windsor I, a single-story, 58,000-square-foot office/flex building situated at 8550 Magellan Parkway within Windsor Business Park in Richmond. The asset was built in 1999 and was 100 percent leased at the time of the sale to Bon Secours Nursing School and Patterson Dental Supply. Windsor I is one of six buildings in the 62-acre business park, which is located about eight miles north of downtown Richmond. Eric Robinson and Evan Magrill of Cushman & Wakefield | Thalhimer represented the seller, Magellan Investors LLC, in the transaction. Gregg Beck of Thalhimer represented the buyer, JBW Winsdor Investment Co.
FRISCO, TEXAS — The North Texas PGA has selected The Ratliff Group of Coppell, Texas, as construction and program manager for its new headquarters in Frisco. The project represents part of the PGA of America’s larger relocation from South Florida to North Texas. Preliminary work on the site is underway. Ratliff Group expects to commence design work during the second quarter, and the grand opening is slated for early 2022.
CHICAGO — United Airlines has decided to keep its headquarters at Willis Tower in Chicago. The airline will partner with the building’s owner, Blackstone, to make major investments in transforming the workspace over the coming months and years. United plans to redesign workspaces to enable employees to better collaborate and use the latest technology. The investments are also part of an initiative to recruit and retain top talent from Chicagoland. The new agreement extends United’s existing 850,000-square-foot lease to March 31, 2033. Molly Carroll, Andrea Van Gelder, Kevin Rogers and Alexa Jennings of JLL represented United in the lease transaction. Blackstone is already in the midst of a $500 million renovation at Willis Tower for all tenants.
