Office

Knotel Signs 23,800 SF Office Lease in Midtown Manhattan

by David Cohen June 21, 2018

NEW YORK CITY — Flexible workspace provider Knotel has signed a 10-year, 23,800-square-foot lease at 6 West 48th St. in Midtown Manhattan. Knotel will occupy the entire second floor through the fourth floor at the 12-story office building as well as the top floor and penthouse. Amanda Bokman and Lloyd Desatnick of JLL represented the building owner in the transaction. Knotel was represented by Elie Reiss of Skylight Leasing. Constructed in 1919, the boutique office building features a recently renovated lobby and is located between Fifth Avenue and Rockefeller Plaza.

June 21, 2018

Development Office Southeast Tennessee

Endeavor, Granite Properties to Break Ground on 20-Story Office Tower in Nashville’s Gulch District

by Camren Skelton June 21, 2018

NASHVILLE, TENN. — Endeavor Real Estate Group, in a joint venture with Granite Properties, will break ground in early August on Gulch Union, a three-phase mixed-use development in Nashville. Located in The Gulch neighborhood, the first phase is 1222 Demonbreun, a 20-story, 329,000-square-foot office building. Designed by Dallas-based architect HKS Inc. to achieve LEED Silver certification, the office building will feature 6,000 square feet of ground-floor retail space, a fitness center with lockers and showers, a 48-seat training room, indoor/outdoor sky lounge, catering kitchen, micro-market serving snacks and meals and onsite property management. Turner Construction Co. is the general contractor for the building, and International Bank of Commerce is providing construction financing. Austin-based Endeavor and Dallas-based Granite Properties expect to wrap up construction on 1222 Demonbreun in May 2020. Located between 12th and 13th avenues and McGavock and Demonbreun streets, Gulch Union will serve as the gateway into The Gulch, uniting South Gulch with Broadway and Music Row. Future phases of the project will include retail, residential and a boutique hotel.

June 21, 2018

Georgia Leasing Activity Office Southeast

Allen Morris Signs Spaces to 56,121 SF Lease at Star Metals Offices in Atlanta’s West Midtown District

by Camren Skelton June 21, 2018

ATLANTA — The Allen Morris Co. has signed Spaces to a 56,121-square-foot lease at Star Metals Offices, the commercial component of the mixed-use Star Metals Atlanta development in Atlanta’s West Midtown district. The coworking company will occupy the seventh and eighth floors of the building, located at 1055 Howell Mill Road. The space will include a 5,642-square-foot ground-floor reception area, private business club and 8,000 square feet of outdoor amenity space for Spaces’ tenants. Benjamin Moss of JLL represented Regus, Spaces’ parent company, in the lease transaction, and JLL’s Jeff Bellamy, Brooke Dewey and Elizabeth Koteles represented Allen Morris Co. Star Metals Offices will offer approximately 230,000 square feet of office space, 25,000 square feet of ground-floor retail and a 5,000-square-foot rooftop restaurant and bar. Amenities will include landscaped outdoor terraces, tenant collaboration areas, a fitness center and a bike rack. Oppenheim Architecture and Warner Summers Architecture are designing the building, which is slated for completion in spring 2020.

June 21, 2018

Acquisitions California Office Western

Ensign Group Purchases 115,517 SF Office Building in Southern California

by Amy Works June 21, 2018

SAN JUAN CAPISTRANO, CALIF. — The Ensign Group, on behalf of a wholly owned subsidiary, has acquired an office building located in San Juan Capistrano. The name of the seller and acquisition price were not released. The Ensign Group plans to enter into a lease with its wholly owned subsidiary, Ensign Services, and expects Ensign to occupy a portion of the 115,517-square-foot property upon termination of its existing office leases in 2019. At the time of acquisition, the property was 92 percent occupied by third-party tenants. The Ensign Group is the parent company of the Ensign line of skilled nursing, rehabilitative care services, home healthcare, hospice care and assisted living companies. Mitch Lundquist and Ryan Hawkins of JLL represented the buyer in the transaction.

June 21, 2018

Acquisitions Industrial Office Texas

J. Beard Brokers Sale of Three Flex Buildings Totaling 13,850 SF in Houston

by Taylor Williams June 20, 2018

HOUSTON — The J. Beard Real Estate Co. has brokered the sale of three flex buildings totaling 13,850 square feet of office and warehouse space in Houston. Ryan Hutson of J. Beard represented the seller, Continuum Investments, in the transaction. Vicky Kuczbel-Rogers of Walzel Properties represented the buyer, G. Ramirez, which will also occupy the buildings.

June 20, 2018

Loans New York Northeast Office

NKF Capital Markets, Cooper-Horowitz Secure $342M Refinancing for Office Tower in Midtown Manhattan

by David Cohen June 20, 2018

NEW YORK CITY — NKF Capital Markets and Cooper-Horowitz have secured a $342 million refinancing for 850 Third Ave., a 21-story, 617,322-square-foot office building in Midtown Manhattan. The owner is a partnership between HNA Property Holdings, ATCO Properties & Management, and MHP Real Estate Services. NKF Capital Markets and Cooper-Horowitz arranged the short term, floating-rate loan through Natixis and Paramount Group. The NKF Capital Markets’ team was led by Jordan Roeschlaub, Dustin Stolly, Nick Scribani and Chris Kramer. Spanning a full block with continuous frontage along Third Avenue between East 51st and 52nd Streets, the building is currently 91 percent occupied by tenants in the media, legal, real estate, entertainment, healthcare and financial sectors. Discovery Communications is currently the building’s largest tenant at 189,470 square feet.

June 20, 2018

Development Michigan Midwest Office

Ford Unveils Plans for Detroit Train Station Transformation at Public Event

by Kristin Harlow June 20, 2018

DETROIT — Employees of Ford Motor Co., city and state officials and Corktown residents gathered on Tuesday at Michigan Central Station for a celebration during which the auto giant officially announced its plan to breathe new life into the former train depot. Ford plans to transform the long-vacant property into a new Corktown campus for work on autonomous and electric vehicles, as well as design urban mobility services and solutions that includes smart, connected vehicles, roads, parking and public transit. “We at Ford want to help write the next chapter, working together in Corktown with the best startups, the smartest talent, and the thinkers, engineers, and problem-solvers who see things differently — all to shape the future of mobility and transportation,” said Bill Ford, the company’s executive chairman. The acquisition of Michigan Central Station comes alongside the company’s purchase of the former Detroit Public Schools Book Depository, two acres of vacant land, the site of an old brass factory and the recent purchase of a refurbished former factory in Corktown, now home to Ford’s electric vehicle and autonomous vehicle business teams. Ford’s campus will span at least 1.2 million square feet of space in Corktown. Approximately 2,500 Ford employees, most from the mobility team, will call Corktown …

June 20, 2018

Civic Development District of Columbia Office Southeast

Joint Venture Breaks Ground on Historic School Renovation Project, Adjacent Office Building in D.C.

by Camren Skelton June 20, 2018

WASHINGTON, D.C. — A joint venture between Akridge, Corporate Office Properties Trust (COPT) and Argos Group has broken ground on the redevelopment of Thaddeus Stevens Elementary School in Washington, D.C. Akridge and D.C. officials have collaborated for 19 years to establish a plan for the historic school, which was one of the District’s first public schools built for the education of African American children. As part of the redevelopment, the joint venture broke ground on a 190,000-square-foot office building, located at 2100 L St., on what previously served as the school’s playground. Designed by Martinez & Johnson Architecture, the building features floor-to-ceiling glass, 20,000-square-foot floor plates, a landscaped rooftop terrace and lounge, penthouse conference center, fitness center and an art gallery with outdoor terraces. The building will feature a rotating art gallery of works from African American artists, as well as a statue outside the building and a feature wall commemorating the property’s namesake, Thaddeus Stevens, who was a U.S. congressman. Law firm Morrison & Foerster LLP has preleased 43 percent of the building. The redevelopment will also include a renovation of the school building, which will reopen as a D.C. public school upon completion. The joint venture expects to …

June 20, 2018

Acquisitions Office Retail Southeast Virginia

Westport Capital, Galaxy Investments Acquire Office, Retail Building in Metro D.C.

by Camren Skelton June 20, 2018

ALEXANDRIA, VA. — A joint venture between Westport Capital Partners LLC and Galaxy Investments has acquired Tavern Square, a 171,008-square-foot office and retail building located at the intersection of King and Royal streets in Alexandria, roughly eight miles south of Washington, D.C. Gerry Trainor of Transwestern arranged the transaction on behalf of the seller, Tavern Square LLC. The sales price was not disclosed. Developed in 1967, the property includes 130,000 square feet of office space, 41,008 square feet of ground-floor retail and a 326-space parking garage. The new ownership plans to renovate the property by modernizing the lobbies, common areas, building exterior and courtyard. Cambridge Holdings will provide construction services for the renovations. In addition, Cambridge will manage the property and handle the building’s leasing assignment.

June 20, 2018

Acquisitions California Office Retail Western

Ocean West Capital Partners Acquires 124,000 SF Office/Retail Building at Hollywood and Vine

by Amy Works June 20, 2018

LOS ANGELES — Ocean West Capital Partners has purchased the Taft Building, a 12-story office and retail building located at the intersection of Hollywood Boulevard and Vine Street in Hollywood, for an undisclosed price. Originally built in 1923, the historic property features 124,000 square feet of space. The building, which was the first high-rise office building in Hollywood, recently underwent an extensive renovation. The buyer plans to complete capital upgrades to the lobby and common areas, convert the ground-floor basement space into an entertainment-focused use, and provide a high-touch level of service to its entertainment industry-focused clientele. The name of the seller was not released.

June 20, 2018

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