NORWALK, CONN. — RHYS has arranged the sale of an office building located at 14 Westport Ave. in downtown Norwalk. Watermill Westport LLC sold the three-story Class B building to Philipos Properties for $2.9 million. Constellation Health Services occupies the 32,000-square-foot building, which was built in 1985. Christian Bangert, Cory Gubner and Alex Haendler of RHYS represented the seller, while John Zervos of DVB Commercial represented the buyer in the transaction.
HOUSTON — Cushman & Wakefield has negotiated a 55,178-square-foot office lease extension on behalf of national law firm Chamberlain, Hrdlicka, White, Williams & Aughtry. The company will continue to occupy the 13th and 14th floors at Two Allen Center, a 979,000-square-foot office property located at 1200 Smith St. in Houston, through 2028. David Guion and Tim Relyea of Cushman & Wakefield represented the law firm in the lease negotiations. John Pruitt, Bubba Harkins and Jessica Ochoa of JLL represented the landlord, Brookfield Property Partners.
ITASCA, ILL. — Jewel-Osco has renewed its 69,000-square-foot office lease for 10 years at Hamilton Lakes Business Park in Itasca. The grocery and drug retailer has maintained its corporate headquarters at the property, located at 150 Pierce Road, for the past 10 years. Hamilton Partners Inc. is the property landlord. Jewel-Osco has 187 locations across Illinois, Indiana and Iowa, and employs 31,000 associates.
CARY, N.C. — CBRE | Raleigh has arranged the sale of Regency Office Park, a 387,987-square-foot office campus in Cary, roughly 12 miles west of Raleigh. Ben Kilgore, Jim McMillan, Leslie Holmes, Elliott Brewer, Brad Corsmeier and Brian Carr of CBRE | Raleigh represented the seller, Regency Park Corp., in the transaction. Michigan-based Alidade Capital acquired the asset for an undisclosed price. Regency Office Park includes 2000, 3300, 3333, 3700 and 8000 Regency Parkway. At the time of sale, the property was leased to tenants including CBC Americas Corp., Michael Baker Engineering, Zurn, Siemens and Erie Insurance.
NEW YORK CITY — M&T Bank and Natixis are co-lead arrangers on a $195 million senior loan secured by Tower 46, a Class A office building located at 55 W. 46th St. In Midtown Manhattan. The borrowers, SL Green Realty Corp. and PGIM, acquired the property in 2014. Proceeds of the loan will provide capital to complete the lease up of the building, which was built in 2013. The 347,694-square-foot property includes a commercial condominium unit that comprises the top 13 floors (22 through 34) of the building with a dedicated entrance on 46th Street, as well as retail space on the second floor and ground-floor. Tenant amenities include a Starbucks Coffee, a fitness center for tenant-use only and on-site parking.
HOUSTON — JLL has brokered the sale of 2525 North Loop West, a 136,325-square-foot, Class B office building in northwest Houston. A partnership between Lykes Building Holding Associates and Smetana Texas Realty Associates sold the asset to 2525 Inner Loop LP for an undisclosed price. The new ownership, which now holds more than 1 million square feet of office space in the immediate area, will invest in capital improvements to the property and will bring retail space to its adjacent pad sites. Rudy Hubbard, Kevin McConn and Rick Goings of JLL brokered the sale.
NEW YORK CITY — Olayan America and developer Chelsfield have unveiled plans for a $300 million renovation of 550 Madison Avenue, an office tower located in Midtown Manhattan. The property — which was completed in 1984 and designed by architect Philip Johnson — was formerly known as the Sony Tower and the AT&T Building. Olayan America acquired the property in May 2016, and has tapped design firm Snøhetta for the renovation. The renovation is set to double the size of the nearby public space; create an outdoor garden; add food and retail offerings; and partially replace the building’s eye-level façade with undulating glass to allow a transparent look into the lobby, atrium and first two levels of the building. The property will also be seeking LEED Gold certification, WELL certification from the International WELL Building Institute, and Wired certification for digital infrastructure upon completion. The property will incorporate a dedicated outdoor air ventilation system, which will ensure tenants have access to a continuous supply of fresh air while consuming less energy than a typical mechanical ventilation system. The renovation is slated for completion in 2019. Lead brokers for the project are Mary Ann Tighe, Howard Fiddle and Scott Gottlieb of CBRE. Olayan …
DENVER — A joint venture between Goldman Sachs Asset Management Private Real Estate (GSAM PRE) and Harbor Associates has purchased the Colorado Bank Building, a 115,000-square-foot historic office building in Denver, for an undisclosed sum. The building is situated at the corner of 17th Street and Champa. The asset was built in 1907. The joint venture plans to reposition the property into high-quality creative office space. The renovation will also include a refresh of the property’s historic lobby, added bike storage, locker rooms and showers and the build-out of other on-site food and beverage amenities.
DETROIT — Liberty Property & Asset Management has been awarded the property management contract for a portfolio of seven office buildings located in metro Detroit. The properties, owned by California-based LSTC Michigan/LSTC California LLC, include: Berkshire Office Building in Beverly Hills; Haverhill Office Building in Troy; Butterfield Park Place in Troy, Hampton Professional Park in Rochester Hills; and Westridge Office Center in West Bloomfield. Liberty will be responsible for all aspects of the management and operation of the properties, while sister company L. Mason Capitani CORFAC International will continue to oversee leasing.
CHICAGO — Skender Construction has completed a 21,000-square-foot office build-out for The Climate Corp., a subsidiary of Monsanto Co. The company creates digital tools to help farmers sustainably increase their productivity. The new office, located at 1330 W. Fulton Market, incorporates rustic wood walls, oversized barn doors and an antique tractor on display. Two workshops house the company’s equipment and ongoing projects. A large break room offers ping pong and foosball for employees. Skender collaborated with architect Shive-Hattery and COR Consulting for the project.
