NEW YORK CITY — Avison Young has brokered the $12.8 million sale of a 13,998-square-foot office condominium in Manhattan. Located at 20 W. 33rd St., the property is currently vacant. James Nelson, Henry Post and David Lawrence of Avison Young represented the sellers, 60 Guilders and The Carlyle Group, in the transaction. Rudder Property Group represented the buyer, Glocap Search LLC.
RALEIGH, N.C. — Dominion Realty Partners is breaking ground on the newest office building at The Offices at Wade in West Raleigh. Development for Wade V will commence on Tuesday, Oct. 23, at 5438 Wade Park Blvd. The six-story, 209,000-square-foot office building has been designed to achieve LEED Gold certification and marks the Dominion Realty’s 21st green certified development. PGIM Real Estate is partnering with Dominion Realty on the project, which Triangle Business Journal reports will cost $62 million to develop. The media outlet is also reporting that the project is being built on a speculative basis.
MILL CREEK, WASH. — Coast Equity Partners has completed the sale of Mill Creek Medical Pavilion (MCMP), a medical office building in Mill Creek, a suburb north of Seattle. A private investor acquired the property for $9.5 million. Located at 16030 Bothell Everett Highway, MCMP features 26,126 square feet of medical office space. Built in 1983 and renovated in 2011, the property is fully leased to a variety of healthcare providers, including outpatient services for family medicine, physical therapy, vision care, psychiatry and dentistry. Chris Bodnar and Lee Asher of CBRE’s Denver office, along with Paul Carr, Steve Perovich and Marcus Yamamoto of CBRE Puget Sound Healthcare Properties, represented the seller.
CHARLOTTE, N.C. — The Spectrum Cos., in partnership with Invesco Real Estate, is developing a mixed-use project located on a five-acre tract linking Charlotte’s South End with its Uptown business district. Located on South Tryon Street at Carson Boulevard, the project will include two nine-story, 220,000-square-foot office buildings, an urban plaza with event space, 40,000 square feet of street-level restaurant and retail space and a 200-room boutique hotel atop a parking deck. The office component includes a flared design that offers private terraces on each floor overlooking the urban plaza, street-level retail and Uptown city lights. Located on top of a parking deck, the lifestyle hotel will include a rooftop bar. The project is the first venture between Spectrum and Invesco.
AUSTIN, TEXAS — Coworking firm Spaces will open a 53,000-square-foot space at 501 Congress Ave. in downtown Austin. Kelly Woodruff and Mike Cleary of CBRE represented Spaces in the lease negotiations. Brent Powdrill of JLL represented the landlord, AFIAA U.S. Investment Inc. The space, which is the company’s first in Austin, will officially open during the third quarter of 2019. Spaces is a brand owned by Regus PLC, a Luxembourg-based coworking office operator with more than 3,000 business centers in 120 countries.
CEDAR KNOLLS, N.J. — HFF has brokered the sale of a 120,000-square-foot office building in Cedar Knolls. Located at 240 Cedar Knolls Road, the four-story property is situated on 14 acres and is approximately two miles from downtown Morristown. HFF represented the seller, MB1 Capital Partners, in the transaction. The buyer was Highstone Equity Group. The building is currently 78 percent leased to a tenant roster that includes JAG Physical Therapy and P Value Communications.
NASHVILLE, TENN. — AllianceBernstein (AB), a global investment firm with approximately $500 billion in assets under management, has selected Fifth + Broadway, a 6.2-acre mixed-use project in downtown Nashville, as its global headquarters. AB has leased 205,000 square feet at 501 Commerce, Fifth + Broadway’s Class A office tower. The company will occupy floors 18 to 25, the top floors of the tower. AB’s staff will have 360-degree views of Nashville’s Central Business District, Lower Broadway and the Cumberland River. AB announced in May 2018 that it would relocate its global headquarters to Nashville. The company expects to complete all phases of its move by 2024, bringing approximately 1,050 corporate office jobs. OliverMcMillan Spectrum | Emery LLC (OM-SE) is developing Fifth + Broadway, which is slated to open by mid-year 2020. The project also includes the 55,000-square-foot National Museum of African American Music; 200,000 square feet of entertainment and retail space, including a flagship H&M, multi-story food hall from The Food Hall Co. and Shake Shack; and 386 residential units. Neil Goldmacher, Brian Goldman and Jared Horowitz of Newmark Knight Frank and Kim Moore with Newmark Knight Frank’s Incentive Group represented AB in the lease transaction. Rob Lowe and Stewart …
WINDSOR, CANADA — Detroit-based Quicken Loans and its family of affiliated companies has unveiled plans to open a new office location in the historic Old Fish Market Building in downtown Windsor, Ontario. The expansion into Canada will enable Quicken Loans to recruit top talent from Windsor, Toronto and Waterloo to support the growing need for additional technology talent, according to the company. Quicken Loans will lease more than 9,000 square feet of office space at the building, which is undergoing renovations that are expected to be completed in the first half of 2019. The company plans to grow the office to more than 100 tech workers.
ST. LOUIS — Franklin Partners has acquired the 174,965-square-foot Corporate Hill IV office building in St. Louis for an undisclosed price. The six-story building was constructed in 1984 and renovated in 2015. Amenities include a full-service cafeteria, one loading dock and exterior balconies on the fifth and sixth floors. A single tenant previously occupied the property. TJ Redmond of CBRE represented the undisclosed seller. Mark Palmer and Artie Kerckhoff of CBRE represented Franklin Partners. The duo will also market the property for lease.
HIGHLAND HEIGHTS, KY. — Fairmount Properties has broken ground on St. Elizabeth Medical Office building at the main entrance to Northern Kentucky University in Highland Heights. Fairmount is developing the property in partnership with Northern Kentucky University, St. Elizabeth Healthcare, OrthoCincy, the City of Highland Heights and Campbell County. The project team includes Bialosky, Casler Design Group, Danis, The Kleinger Group, KLH Engineers, Realm Collaborative and THP Limited. Located on Nunn Drive, the 65,000-square-foot facility will offer urgent care, primary care and specialty physicians space, as well as OrthoCincy’s on-site orthopaedical office, physical therapy and other orthopaedical services. The facility is slated to open in early 2020. The medical office is the first phase of a more than $100 million NKU Gateway mixed-use development. Upon complete build-out, the property will include restaurants, retail space, market-rate apartments, a hotel, parking and new public gathering spaces.
