NEW YORK CITY — Cushman & Wakefield has brokered the $3.8 million sale of a 24,155-square-foot office building in the Bronx. Located at 1314 Blondell Ave., the split-level property features a 24-car private garage and 16-foot ceilings on the ground floor. Jonathan Squires, Ian Brooks, and Robert Shapiro of Cushman & Wakefield represented the undisclosed seller in the transaction. The buyer was also undisclosed.
GLADSTONE, MO. — KCP Acquisition LLC has purchased the Northland Innovation Campus in Gladstone, a northern suburb of Kansas City. The purchase price was not disclosed, but the Kansas City Business Journal reports that the property was valued at $20 million as of March 2017. The Class A building features collaborative office space and an education center. The five-story, 86,778-square-foot office building is 92 percent leased to the North Kansas City School District, Northwest Missouri State University and Edward Jones. Gary Carr, Gina Anderson and Robert Hill of CBRE represented the seller, Gladstone Capital LLC.
FRISCO, TEXAS — Cardtronics, an operator of ATM machines and financial kiosk services, has expanded its presence by 46,000 square feet at HALL Park in Frisco. The company now occupies 82,000 square feet at 3201 Dallas Parkway, HALL Group’s newest development. Garrold Parratt, Greg Biggs and Kimarie Ankenbrand of JLL represented Cardtronics in the lease negotiations. Kim Butler, Brad Gibson and Cynthia Cowen represented HALL Group internally.
RICHARDSON, TEXAS — Generational Group LLC, a Dallas-based investment banking firm, will relocate its headquarters from Dallas Parkway to CityLine, a mixed-use development in the northeastern Dallas suburb of Richardson. Steve Thelen and Anissa Guerriere of JLL represented Generational Group in the lease negotiations. Nathan Durham, Paul Wittorf and Duane Henley of Transwestern represented the landlord.
LONG BEACH, CALIF. — Redwood Partners has purchased The Hubb, a creative office property located at 100 W. Broadway in downtown Long Beach. A joint venture between Singerman Real Estate and Ocean West Capital Partners sold the property for $60.5 million. Originally built in 1986, the 210,428-square-foot creative office building underwent a $12 million capital improvement program in 2017. The renovation included the addition of high and exposed ceilings, operable windows, polished concrete floors and full-height glass lines. The Hubb also features an indoor-outdoor amenity area known as “WorkPark,” which provides a modern outdoor office environment with work tables, seating, lounge chairs and Wi-Fi stations. The property also features an adjacent, six-level parking structure. At the time of sale, the property was 88 percent occupied by a variety of office and retail tenants, including WeWork as the long-term anchor tenant. Kevin Shannon, Ken White, Rob Hannan, Laura Stumm and Michael Moll of Newmark Knight Frank represented the seller, while Bob Safai of Madison Partners represented the buyer in the deal.
DENVER — A joint venture between Patrinely Group and USAA Real Estate has received construction financing for Block 162, a speculative Class AA office tower located at 675 15th St. in Denver’s Midtown West submarket. Leon McBroom and Eric Tupler of HFF arranged the four-year loan through PCCP LLC for the borrower. Upon completion, the 30-story office tower will offer 9,900 square feet of ground-level retail and parking in three below-grade and nine above-grade decks. The core and shell of the 595,039-square-foot building is being constructed to meet LEED Gold certification. The building will feature rectangular floor plates, floor-to-ceiling glass for maximum natural light, 10-plus foot ceiling heights, on-site security and panoramic views of the Front Range and downtown. Additional on-site amenities will include an 11th-floor sky terrace with social lounge, an activated outdoor fitness area in conjunction with a full-service indoor fitness center, bike storage, and 2,800 square feet of conference and meeting space.
SCOTTSDALE, ARIZ. — Cushman & Wakefield has arranged the sale of Scottsdale Design District, a boutique showroom located on the corner of East Thomas Road and North 66th Street in Scottsdale. Chris Toci, Chad Littell and Brent Mallonee of Cushman & Wakefield represented the seller. The buyers were introduced to the asset by Brandon Holdings, the sponsor, and IX Advisors LLC, a real estate advisory based in Seattle. Local and nationally recognized interior designers, art dealers and retailers occupy the 109,652-square-foot property. Tenants include John Brooks, Pindler & Pindler, Century, Tower and Kravet.
CHICAGO — SVN | Chicago Commercial has brokered the sale of a 50,400-square-foot concrete loft office building in Chicago’s River North neighborhood for $10.3 million. The property is located at 405 W. Superior St. Stephen Cusano and Jim Mead of SVN represented the undisclosed parties in the sale.
TAMPA, FLA. — Pipeline Workspaces, a shared workspace concept, has opened a new location in downtown Tampa. Pipeline Tampa occupies the 15th floor of Park Tower, which is located at 400 N. Tower St., across from The Tampa Riverwalk. Pipeline Tampa is Pipeline Workspace’s seventh location and sixth in Florida, joining offices in Brickell, Coral Gables, Doral, Fort Lauderdale and Orlando. Pipeline also has a location in Philadelphia. Amenities for Pipeline members include high-speed internet, color printer/copiers, access to conference rooms, mailboxes, a kitchen and complimentary coffee and tea.
RALEIGH, N.C. — Lee & Associates, one of the largest broker-owned commercial real estate firms in North America, has opened its first office in North Carolina. Moss Withers and Karah Jennings will head the new Lee & Associates office in Raleigh-Durham. Lee & Associates was founded in 1979 and has offices in the U.S. and Canada. The Raleigh-Durham office joins locations in Miami; Seattle; Pasadena, Calif.; Walnut Creek, Calif.; Minneapolis; Vancouver; eastern Pennsylvania; Columbus, Ohio; Cincinnati; Cleveland; and Houston as the most recent openings. Withers and Jennings are both joining Lee & Associates from NAI Carolantic.