Office

JLL Secures 77,000 SF Office Lease in Fort Worth for Advertising Firm

by Taylor Williams August 9, 2018

FORT WORTH, TEXAS — JLL has secured a 77,000-square-foot office lease for local advertising firm Simpli.fi in Fort Worth. The space is situated within the historic Fort Worth Stockyards, which is currently being renovated by Stockyards Heritage Development Co., a partnership between California-based Majestic Realty Co. and Fort Worth-based The Hickman Cos. Simpli.fi is planning to bring more than 450 employees to its new offices. Ryan Matthews and Matt Montague of JLL represented the tenant in the lease negotiations. Seth Koschak and Tyler Maner of Stream Realty Partners represented Stockyards Heritage Development.

August 9, 2018

Leasing Activity New York Northeast Office

Warshaw Burstein Signs 40,000 SF Lease in Manhattan Office Tower

by David Cohen August 9, 2018

NEW YORK CITY — Warshaw Burstein LLP has signed a 15-year, 40,383-square-foot office lease at 575 Lexington Ave. in Manhattan. The law firm will occupy the entire seventh floor of the building. Michael Burgio of Cushman & Wakefield represented Warshaw Burstein in the transaction. Newmark Knight Frank represented the landlord, a joint venture comprising George Comfort & Sons, Angelo Gordon & Co. and Normandy Real Estate Partners. The 35-story, 745,400-square-foot office tower has recently undergone a series of renovations that included a full redesign of the building’s lobby, upgrades to the elevators and the construction of a new entrance.

August 9, 2018

Acquisitions Georgia Office Southeast

Bridge Acquires AT&T-Leased Office Campus in Atlanta’s Buckhead District for More than $200M

by Camren Skelton August 9, 2018

ATLANTA — Bridge Office Fund Manager LLC, a subsidiary of Salt Lake City-based Bridge Investment Group, has acquired Lenox Park, a 32-acre office campus located in Atlanta’s Buckhead district. The 1 million-square-foot development includes five buildings and serves as the corporate hub for AT&T. The seller and sales price were not disclosed, but the Atlanta Business Chronicle reports Bridge acquired the campus from an affiliate of Fortress Investment Group for at least $225 per square foot, or up to $225 million. Bridge plans to renovate the recently vacated 1277 Lenox Park Blvd., a seven-story, 153,093-square-foot building located on the site. David Tennery of JLL arranged the transaction on behalf of the seller. Kevin Lott, Kim Caswell and Stewart Thrash of Bridge Commercial Real Estate — the office operating subsidiary of Bridge Investment Group — will handle Lenox Park’s leasing assignment.

August 9, 2018

Acquisitions Georgia Office Southeast

NKF Capital Markets Brokers $73.3M Sale of Office Campus in Metro Atlanta

by Camren Skelton August 9, 2018

KENNESAW, GA. — NKF Capital Markets has brokered the $73.3 million sale of TownPark Commons, a 350,000-square-foot office campus in Kennesaw, located roughly 27 miles northwest of Atlanta. Matt Tritschler of NKF Capital Markets arranged the transaction on behalf of the buyer, Adventus Opportunity Fund. Eastdil Secured represented the seller, TSP TownPark LLC. TownPark Commons includes four, four-story buildings located within the TownPark mixed-use development. The buildings were constructed in 1997 and 1998. TownPark Commons was 99 percent leased at the time of sale to tenants such as Enercon Services, INVISTA and HCC Life Insurance Co.

August 9, 2018

Acquisitions California Office Western

Cress Capital Acquires Five-Building Office Portfolio in Southern California for $89.5M

by Amy Works August 9, 2018

CERRITOS, CALIF. — Newport Beach, Calif.-based Cress Capital has purchased a five-building office portfolio, located within Cerritos Town Centre in Cerritos. An undisclosed seller sold the asset for $89.5 million. Built between 1989 and 1998, the 461,920-square-foot portfolio includes two seven-story buildings and three two-story buildings. At the time of sale, the asset was 88 percent occupied by 45 tenants. Cerritos Town Centre is a 124-acre mixed-use development offering more than 1 million square feet of Class A office space, a full-service hotel, the Cerritos Center for the Performing Arts and a 600,000-square-foot, open-air retail center. This transaction puts Cress at nearly $250 million in acquisition volume over the past 18 months and expands the company’s portfolio in Southern California and Colorado to roughly 1.7 million square feet.

August 9, 2018

Willow-Creek-Corporate-Center-Redmond-WA

Acquisitions Office Washington Western

HFF Negotiates Sale of 421,785 SF Office Park in Metro Seattle

by Amy Works August 9, 2018

REDMOND, WASH. — HFF has brokered the sale of Willow Creek Corporate Center, a seven-building office park located in Redmond, a suburb 16 miles east of Seattle. Preylock Real Estate Holdings acquired the asset for an undisclosed price. At the time of sale, the 421,785-square-foot property was fully leased. Michael Leggett, Dave Otis, Logan Greer and Kevin Freels of HFF represented the undisclosed seller and procured the buyer in the transaction.

August 9, 2018

Acquisitions Office Texas

Transwestern Development Co. Sells 313,420 SF Office Property in Houston

by Taylor Williams August 8, 2018

HOUSTON — Transwestern Development Co. (TDC) has sold Westway Plaza, a 313,420-square-foot office building located at 11330 Clay Road in northwest Houston. The five-story, Class A building was built in 2015 and features a full-service deli and a fitness center with locker rooms. General Electric Co. is the anchor tenant at the property, which was fully leased at the time of sale. Jeff Hollinden and Dane Petersen of HFF represented TDC in the transaction. The buyer was The Aztec Fund Inc., a Mexico-based private equity fund.

August 8, 2018

Acquisitions Office Texas

JLL Negotiates Sale of 119,846 SF Office Building in Fort Worth

by Taylor Williams August 8, 2018

FORT WORTH, TEXAS — JLL has negotiated the sale of the WT Waggoner Building, a 119,846-square-foot office property in Fort Worth. Ryan Matthews of JLL represented the seller, XTO Energy Inc., in the transaction. David Walters and Marty Neilon of CBRE represented the buyer, Northland Properties Corp., the parent company of the NHL’s Dallas Stars. The sale marks the fifth disposition of XTO’s seven properties in downtown Fort Worth.

August 8, 2018

Development Office Texas

Hill & Wilkinson Completes 240,000 SF Office Building in Dallas

by Taylor Williams August 7, 2018

DALLAS — Richardson-based Hill & Wilkinson has completed FOURTEEN555, a 240,000-square-foot office building located north of Interstate 635 in Dallas. Developed by Cawley Partners, the Class A property is the first of two planned office buildings at 14555 Dallas Parkway. The new office building features amenities such as a full-service restaurant, fitness center and a rooftop terrace. Additional amenities are housed in a separate three-story building known as The Hub. BOKA Powell designed the project, which is currently 50 percent preleased.

August 7, 2018

Acquisitions Office Southeast Virginia

Cushman & Wakefield | Thalhimer Arranges $18.6M Sale of Office Tower in Downtown Norfolk

by Camren Skelton August 7, 2018

NORFOLK, VA. — Cushman & Wakefield | Thalhimer has arranged the $18.6 million sale of Main Street Tower, a 14-story office building located at 300 E. Main St. in downtown Norfolk. A Chicago-based investment fund acquired the asset from an undisclosed seller. Eric Robison and Rob Wright of Cushman & Wakefield | Thalhimer arranged the transaction. The 199,621-square-foot office building was 73 percent leased to seven tenants at the time of sale. The United States Coast Guard anchors the building.

August 7, 2018

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