GLENDALE, CALIF. — Kennedy Wilson has purchased a 437,000-square-foot office campus in Glendale for $144 million. The campus contains two Class A office buildings located at 400 and 450 N. Brand Blvd. The property was purchased through Kennedy Wilson Real Estate Fund V. It is currently 88 percent leased to 21 tenants, including Cigna, DineEquity and Learner’s Digest International.
LEHI, UTAH — Sorenson Media has leased 61,329 square feet of space at Thanksgiving Station 5 in Lehi, located south of Salt Lake City. The building is being constructed at 2300 N. Ashton Blvd. It will serve as Sorenson’s new headquarters. Chris Falk of Newmark Grubb Acres represented Sorenson.
WALTHAM, MASS. — King Street Properties has broken ground on a 144,910-square-foot office and laboratory property at 828 Winter St. in Waltham, Mass. The speculative building is scheduled for completion in mid-2018. King Street Properties also owns 830 Winter St., a 100 percent leased, 185,000-square-foot building adjacent to the new development. When 828 Winter St. is complete, the two-building campus will encompass 330,000 square feet in total. On-campus amenities will include two cafeterias, a central courtyard, conference facilities, structured parking, bicycle storage and showers with changing facilities. HFF provided debt financing services for the construction of 828 Winter St. The project team includes architect Perkins+Will and general contractor BW Kennedy & Co.
DALLAS — Goddard Investment Group has begun a $70 million renovation of Fountain Place, a 60-story office tower in downtown Dallas. The project will deliver a 10-story parking garage with four plaza-level restaurants at its base. In addition, AMLI Residential is developing a 45-story luxury apartment tower as part of the new Fountain Place mixed-use complex. Several companies, including Bracewell LLP, Wells Fargo and Tenet Healthcare, have recently renewed their leases at the property, which is now 85 percent occupied. The garage will be delivered in October, while interior renovations are scheduled for a May 2018 completion.
AUSTIN, TEXAS — Notley Ventures has begun leasing The Center for Social Innovation, a 60,000-square-foot office campus within the Springdale General complex in Austin. Located at 1023 Springdale Road, the center consists of 50,000 square feet of office space and 10,000 square feet of co-working space. Central Austin Management Group served as the primary developer of the project.
DETROIT — Local ironworkers constructing the Little Caesars world headquarters campus extension in Detroit held a topping out ceremony on Tuesday. Workers signed their names, attached banners, flags and an evergreen tree to structural steel beams that were hoisted into place. A Little Caesars mascot was also along for the ride. Led by contractor Brinker-Christman JV and designed by SmithGroupJJR, the nine-story, 234,000-square-foot building is located at the corner of Woodward Avenue and Columbia Street. The $150 million project will anchor The District Detroit’s Columbia Street neighborhood. The new headquarters, located approximately one mile from Little Caesars Arena, is slated to open in 2018.
LOS ANGELES — A joint venture between Roxborough Fund I and the Ruth Group LLC has purchased a 304,821-square-foot office tower in Los Angeles for $12.5 million. The 15-story tower is located at 9841 Airport Blvd. near Los Angeles International Airport (LAX). The asset is currently 62 percent occupied.
THE WOODLANDS, TEXAS — JLL has arranged $175 million in refinancing for Market Street — The Woodlands, a 493,400-square-foot mixed-use asset located at 9595 Six Pines Drive in The Woodlands. The property features approximately 375,600 square feet of retail space and 114,900 square feet of office space. Tom Melody and John Ream of JLL arranged the fixed-rate loan through a partnership between Morgan Stanley and Wells Fargo.
CENTERVILLE, OHIO — Premier Independent Quality Services (PIQS) has entered into a 15,000-square-foot office lease in Centerville, about 20 miles south of Dayton. The property, now fully leased, is located at 6501 Centerville Business Parkway. PIQS is a local health care agency that provides home health care and non-medical transportation to Medicaid recipients and private sectors. Chris Carey and Beau Nimer of CBRE represented the landlord in the lease transaction.
CHARLOTTE, N.C. — Sealed Air Corp., the company behind brands such as Bubble Wrap and Cryovac, has opened its new office and research campus within LakePointe Corporate Center in Charlotte. Situated south of the Charlotte Douglas International Airport, the project features two office buildings totaling 220,000 square feet, a 170,000-square-foot research and development laboratory and two parking decks. Designed by Atlanta-based tvsdesign, the property is expected to house 1,300 of Sealed Air’s employees. Amenities at the campus include a fitness center, cafeteria and social spaces, including an outdoor pavilion.
