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Aggie-Square-Sacramento-CA
CaliforniaDevelopmentLife SciencesMultifamilyOfficeRetailWestern

Partnership to Open 808,000 SF First Phase of Aggie Square on UC Davis Health Campus in Sacramento

by Amy Works

SACRAMENTO, CALIF. — Baltimore-based Wexford Science + Technology, in partnership with The University of California, Davis and the City of Sacramento, has announced the groundbreaking of Aggie Square, a mixed-use development at UC Davis Health Campus in Sacramento. Located at the corner of Stockton Boulevard and 2nd Avenue, Aggie Square’s first phase will offer 808,000 square feet of upscale Class A life sciences research labs, technology and office space, plus housing and retail space. The ribbon-cutting ceremony is scheduled for May 2. Situated on 8.2 acres, Phase I consists of a 313,000-square-foot lab and life sciences building, a 255,000-square-foot Lifelong Learning office and classroom building, a 35,000-square-foot UC Veterinary Genetics Lab, and Anova Aggie Square, a 190-unit residential development with 15,000 square feet of retail space. The first phase also offers community serving uses, a parking structure and indoor/outdoor public spaces. Each building is anchored by UC Davis programs and configured to co-locate private industry investment and innovation infrastructure for startups, as well as community-based partnerships. The project team is also marketing another 313,000-square-foot lab and life sciences building with ground-floor retail located at 100 Aggie Square. The building offers flexible design, and construction will commence once preleasing thresholds are met. …

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8965-Balboa-Ave-San-Diego-CA
AcquisitionsCaliforniaOfficeWestern

Dollinger Properties Sells 27,761 SF Office Building in San Diego for $12.3M

by Amy Works

SAN DIEGO — Dollinger Properties has completed the sale of a two-story office building located at 8965 Balboa Ave. in San Diego’s Kearney Mesa neighborhood. Sharp HealthCare acquired the asset for $12.3 million. County of San Diego occupies the 27,761-square-foot property, which was built in 1985. The tenant has been onsite since 2002. Bob Prendergast, Lynn LaChapelle and Zac Saloff of JLL Capital Markets Investment Sales and Advisory team represented the seller, while Mike Labelle and Bridget Gossett of Cushman & Wakefield represented the buyer in the deal.

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DevelopmentOfficeTexasTop Stories

Port San Antonio Board of Directors Approves Next Step in Development of 300,000 SF Innovation Tower

by Kristin Harlow

SAN ANTONIO — The Port San Antonio Board of Directors has unanimously approved the next step in the development of Innovation Tower, an office project on the 1,900-acre Tech Port campus, located just southwest of downtown San Antonio. Port San Antonio is a public entity created to redevelop land formerly occupied by Kelly Air Force Base. Yesterday, the board approved $7.5 million to move the tower from its preliminary phase to the finalization of architectural plans, budget and schedule. The design phase is expected to last about one year, with groundbreaking slated for 2026 and completion by 2028. Project costs are estimated at roughly $275 million, according to the San Antonio Business Journal. The multi-story Innovation Tower, which will be located at the main entrance of the campus, will support growing demand by adding nearly 300,000 square feet of high-end office space. The tower will also include 27,000 square feet of amenity spaces such as a health and wellness center, sauna, locker rooms and a large conference room. Pelli Clarke & Partners designed the tower, with architect Bill Butler leading the project. The tower is a component of a broad innovation campus development strategy the organization unveiled in fall 2024. …

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AcquisitionsNew JerseyNortheastOffice

CBRE Negotiates $10.2M Sale of Northern New Jersey Office Building

by Taylor Williams

PARSIPPANY, N.J. — CBRE has negotiated the $10.2 million sale of a 79,766-square-foot office building in the Northern New Jersey community of Parsippany. According to LoopNet Inc., the building at 299 Cherry Hill Road was originally constructed in 1977 and renovated in 2021. Capital improvements included a redesign of the exterior façade; updated roadway signage, a new electronic tenant directory and LED lighting in the lobby and a new tenant amenity center with grab-n-go food service, conference room and a huddle room. Charles Berger and Thomas Mallaney of CBRE represented the seller and procured the buyer in the transaction.

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Leasing ActivityNew YorkNortheastOffice

NY E-Health Collaborative Signs 15,000 SF Office Lease in Midtown Manhattan

by Taylor Williams

NEW YORK CITY — NY E-Health Collaborative has signed a 15,000-square-foot office lease in Midtown Manhattan. The nonprofit networking organization for healthcare professionals is taking space at 5 Penn Plaza, which is located within Hudson Yards and was recently repositioned. Mitch Konsker, Christine Colley, Kristen Morgan, Greg Wang, Kate Roush and Dan Turkewitz of JLL represented the landlord in the lease negotiations. Joe Speck and Reid Longley of Colliers represented the tenant.

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AcquisitionsMichiganMidwestOffice

Colliers Negotiates Sale of 56,920 SF Flex Office Building in Northville, Michigan

by Kristin Harlow

NORTHVILLE, MICH. — Colliers has negotiated the sale of a 56,920-square-foot flex office building in Northville for an undisclosed price. The property is located at 22300 Haggerty Road. Metro Engineering Solutions, an engineering company, is moving into the space in April. The company maintains several other locations in Michigan. John Fricke and Jonathan Loos of Colliers represented the buyer.

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AcquisitionsIndustrialOfficeSouth CarolinaSoutheast

CBRE Arranges $13.8M Sale of Flex Property in Columbia, South Carolina

by John Nelson

COLUMBIA, S.C. — CBRE has arranged the $13.8 million sale of 20/21 Business Center, a 98,386-square-foot flex property located in Columbia. Red Bank, N.J.-based Denholtz was the buyer. Matt Smith, Patrick Gildea, Robert Hardaway, Aaron Dupree and Marie Diekmann of CBRE represented the seller, CB Equities, in the transaction. Situated on 17.6 acres, the property — which was 98 percent leased at the time of sale — comprises three buildings and three vacant land parcels. Additional features of the center include interstate visibility and expansion opportunities, as well as 17 dock doors and 10 drive-in doors. CBRE originally arranged CB Equities’ acquisition of the property in May 2022 for $10.5 million.

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AcquisitionsLife SciencesMassachusettsNortheastOffice

Shorenstein, Tritower Buy 480,000 SF Office, Life Sciences Campus in Bedford, Massachusetts

by Taylor Williams

BEDFORD, MASS. — A joint venture between San Francisco-based Shorenstein Investment Advisors and Boston-based investment firm Tritower has purchased The Xchange, a 480,000-square-foot office and life sciences campus in Bedford, located northwest of Boston. The site of the eight-building development is located along State Route 3 and adjacent to the interchange with State Route 128 and can support future expansion. At the time of sale, The Xchange was 99 percent leased to tenants in industries such as robotics, battery development, diagnostic instruments and advanced materials technology. The seller and sales price were not disclosed.

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DelawareLoansNortheastOffice

D2 Capital Advisors Arranges $26M Permanent Loan for Life Sciences Building in Wilmington, Delaware

by Taylor Williams

WILMINGTON, DEL. — D2 Capital Advisors, a Philadelphia-based intermediary, has arranged a $26 million permanent loan for an 80,000-square-foot life sciences building in Wilmington. The building was completed in 2023 as part of the redevelopment of the 164-acre Chestnut Run Innovation & Science Park. The building was fully leased at the time of the loan closing to Prelude Therapeutics, which develops cancer treatment drugs. Jack Cortese, David Frankel and John Lightcap of D2 arranged the loan on behalf of the borrower, Pennsylvania-based developer MRA Group. The direct lender was not disclosed.

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One-Jefferson-Road-Parsippany-New-Jersey
AcquisitionsNew JerseyNortheastOffice

Signature Acquisitions Buys 100,010 SF Office Building in Parsippany, New Jersey

by Taylor Williams

PARSIPPANY, N.J. — Signature Acquisitions has purchased a 100,010-square-foot office building in the Northern New Jersey community of Parsippany. Built on 8.5 acres in 2009, the building was fully leased at the time of sale to law firm Day Pitney, which is in the process of relocating. Jose Cruz, Jeremy Neuer, Ryan Robertson and Bradley Wachenfeld of JLL represented the seller, Office Properties Income Trust, in the transaction and procured Signature Acquisitions as the buyer.

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