Office

Kaizen to Develop 300,000 SF Office Building in Uptown Dallas

by Taylor Williams November 16, 2018

DALLAS — Kaizen Development Partners will develop The Link at Uptown, a 22-story, 300,000-square-foot office building that will be located at the intersection of Olive and Akard streets in Uptown Dallas. Designed by BOKA Powell, the property will feature two restaurants, a fitness center, conference center, golf simulators and other outdoor terrace amenities. Demolition of existing buildings on the site is planned for next summer, with vertical construction immediately following. The target completion date is fall 2021.

November 16, 2018

Acquisitions Arizona Office Western

Bow River Capital Partners Buys 20-Story Office Tower in Phoenix for $14.6M

by Amy Works November 16, 2018

PHOENIX — Denver-based Bow River Capital Partners has purchased Grand Central Tower, an office building located at 3550 N. Central Ave. in Phoenix. Solana Beach, Calif.-based Fenway Capital Advisors sold the property for $14.6 million. Built in 1958 and situated in Phoenix’s Central Corridor, the 20-story building features 284,709 square feet of office space, as well as a 4.4-acre surface parking lot that could be redeveloped with multifamily residential space. At the time of sale, the multi-tenant property was 34 percent occupied. Steve Lindley, Eric Wichterman, Bob Buckley, Tracy Cartledge and Mike Coover of Cushman & Wakefield’s Phoenix office represented the seller in the deal.

November 16, 2018

Development Midwest Nebraska Office

Darland Completes Headquarters for LGT Transport in Omaha

by Kristin Harlow November 16, 2018

OMAHA, NEB. — Darland Construction Co. has completed the new headquarters for LGT Transport, a cryogenic transportation company. The 12,640-square-foot property includes 8,312 square feet of office space, which includes eight offices, a training center, conference room, driver’s lounge, workroom, exercise facility, break room and locker rooms. The remaining square footage houses the company’s two-bay service center. A 36,000-square-foot parking lot offers parking for up to 10 tractor-trailers. Schemmer Associates was the project architect.

November 16, 2018

Acquisitions New Jersey Northeast Office

CBRE Negotiates Sale of 303,777 SF Office Complex in Paramus, New Jersey

by David Cohen November 15, 2018

PARAMUS, N.J. — CBRE has negotiated the sale of Country Club Plaza, a 303,777-square-foot office complex in Paramus. The sales price was undisclosed. Located at 115 and 117 W. Century Road, the two-building complex is currently 97 percent leased to two investment-grade tenants. Jeffrey Dunne, Jeremy Neuer, Travis Langer and Zachary McHale of CBRE Institutional Properties represented the seller, a partnership of Garrison Investment Group and Onyx Equities, in the transaction. The buyer was Premium Capital Resources.

November 15, 2018

Acquisitions California Mixed-Use Office Retail Western

Newmark Knight Frank Negotiates Sale of 586,407 SF Mixed-Use Property in San Leandro

by Amy Works November 15, 2018

SAN LEANDRO, CALIF. — Newmark Knight Frank has arranged the sale of Westgate Center, a grocery-anchored mixed-use retail center located at 1933 Davis St. in San Leandro. SKB and WHI Real Estate Partners sold the property to a New York-based global private equity firm for an undisclosed price. The 586,407-square-foot property features a 361,132-square-foot retail component and 225,275 square feet of flex office and prototyping space. Walmart, Home Depot, Ross Dress for Less, Burlington and Dollar Tree are tenants at the retail portion. The second-floor flex space, branded as Gate510, offers an environment for entrepreneurs and creators to collaborate, invent, work and manufacture. Nicholas Bicardo, Brandon Rogoff and Grant Lammersen of NKF represented the seller in the deal.

November 15, 2018

Acquisitions Michigan Midwest Office

Friedman Negotiates Sale of 26,600 SF Office Building in Detroit

by Kristin Harlow November 15, 2018

DETROIT — Friedman Real Estate has negotiated the sale of a 26,600-square-foot office building in Detroit for an undisclosed price. The property is located at 610 W. Congress St. Congress Real Estate Ventures LLC sold the asset to 610 West Congress Partners LLC. Alan Stern and Steven Silverman of Friedman represented both parties in the sale.

November 15, 2018

Alabama Office Southeast

VCP City Center Acquires 691,777 SF Office Building in Downtown Birmingham for $31M

by Alex Tostado November 14, 2018

BIRMINGHAM, ALA. — VCP City Center, which is managed by Varden Capital Properties and Tellus Multifamily, has acquired City Center, a 691,777-square-foot, vacant office building in downtown Birmingham. Cushman & Wakefield represented the undisclosed seller in the $31 million sale.

November 14, 2018

Acquisitions New Jersey Northeast Office

Marcus & Millichap Brokers $10.5M Sale of Office Building in New Jersey

by David Cohen November 14, 2018

CLARK, N.J. — Marcus & Millichap has brokered the $10.5 million sale of a 76,000-square-foot, five-story office building in Clark. Located at 67 Walnut Ave., the property was 97 percent occupied at the time of sale. Fahri Ozturk, Rick Lechtman, Ben Sgambati and Alan Cafiero of Marcus & Millichap represented the seller in the transaction, a joint venture between Mountain Development Corp. and Bukiet Building and Management Co. The buyer was a private investor.

November 14, 2018

Development Office Texas

Tech Consulting Firm to Open Hub in Richardson, Create 500 Jobs

by Taylor Williams November 14, 2018

RICHARDSON, TEXAS — Tech consulting firm Infosys (NYSE: INFY) will open a technology and innovation hub in the northeastern Dallas suburb of Richardson. The company claims the project will create 500 new jobs by 2020. Operations at the center will focus on serving the telecommunications, retail and banking industries. According to the Fort Worth Business Press, the company’s total capital investment in the area will be $12.3 million.

November 14, 2018

Leasing Activity Office Texas

Common Desk to Open 26,500 SF Coworking Space in Metro Dallas

by Taylor Williams November 14, 2018

ADDISON, TEXAS — Dallas-based coworking firm Common Desk will open a 26,500-square-foot location in Addison, a northern suburb of Dallas. The space will be located within FOURTEEN5, an office park developed by Cawley Partners that is situated just off the Dallas North Tollway. Slated to open in spring 2019, the location will offer private offices, team spaces and game and cocktail lounges.

November 14, 2018

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