NEW YORK CITY — Gordon Rees Scully Mansukhani (GRSM) has signed an 11-year, 22,409-square-foot office lease renewal in Lower Manhattan. The law firm will remain on the 28th floor at One Battery Park Plaza, a 35-story, 870,000-square-foot building that was originally constructed in 1971. Chris Mongeluzo, Hal Stein and Adam Weinblatt of Newmark represented GRSM in the lease negotiations. Thomas Keating and Kevin Daly represented the landlord, Rudin, on an internal basis.
DETROIT — Friedman Real Estate has brokered the $9.2 million auction sale of the 600 Tower of the Renaissance Center in Detroit. The 21-story office building totals 334,000 square feet. Friedman utilized auction partner Ten-X. The buyer was Dr. Mahmoud Al-Hadidi, an internal medicine specialist that also runs a real estate investment firm, according to Crain’s Detroit Business. The news outlet reports that the 600 Tower had been owned by a joint venture between F&F Capital Group and Friedman Real Estate. The building is one of the shorter RenCen towers and is not owned by General Motors Co., which is working on a redevelopment plan for the five towers it owns.
ST. LOUIS — MAP Property Holdings has unveiled plans for the renovation of key common areas as part of a reintroduction to the market of One US Bank Plaza, a 36-story, 658,000-square-foot office building in downtown St. Louis. Renovations will begin this spring, with Greiner Construction as general contractor and Trivers as architect. Plans call for updated finishes throughout the common areas on the first and second floor, an in-building lunchtime food operator, two outdoor patio options, varied third workspace options, an enhanced security focus and a refresh of outdoor plaza areas. MAP’s $8.7 million investment stimulated more than 210,000 square feet of lease renewals. Additionally, US Bank recently relocated 300 employees from another location to the downtown office tower. Minneapolis-based MAP acquired the building in 2021. Cushman & Wakefield provides leasing and property management services at US Bank Tower, with Danielle Grubbs and Jim Mosby leading leasing efforts.
WALTHAM, MASS. — Locally based owner-operator Hobbs Brook Real Estate is underway on the renovation of a 384,841-square-foot office and life sciences facility located at 404 Wyman St. in the western Boston suburb of Waltham. The building is part of an 11-building campus that is home to tenants such as Dassault Systems, FM Global, Commonwealth Financial Network and ZoomInfo. Renovations will include the addition of a new fitness center, a remodeling of lobby and upgrading of the conference center and café. In addition, Hobbs Brook will develop expansive outdoor spaces with seating areas, fire pits and new landscaping. Completion is slated for early next year.
NEW YORK CITY — Skarzynski Marick & Black has signed a five-year, 28,307-square-foot office lease renewal in Lower Manhattan. The insurance law firm will remain the sole occupant of the 32nd floor at One Battery Park Plaza, a 35-story, 870,000-square-foot building that was originally constructed in 1971. Andrew Peretz of Newmark represented the tenant in the lease negotiations. Thomas Keating and Kevin Daly represented the landlord, Rudin, on an internal basis.
INDIANAPOLIS — Roche, a Swiss biotechnology company whose U.S. headquarters is in Indianapolis, has announced its intention to invest $50 billion in the United States over the next five years. The investment will include new and expanded life sciences facilities across the country, as well as a new 900,000-square-foot manufacturing facility, the location of which will be announced soon. This project will be a manufacturing facility for Roche’s portfolio of next-generation weight loss medicines. The other new developments will include a gene therapy manufacturing facility in Pennsylvania, a new plant in Indiana for continuous glucose monitoring and a new research-and-development (R&D) center in Massachusetts. Roche will also expand and upgrade its existing pharmaceutical manufacturing facilities in Kentucky, Indiana, New Jersey, Oregon and Pennsylvania as part of the investment, as well as expand R&D centers in Arizona, California and Indiana. Roche’s investment is expected to create more than 12,000 new jobs, including nearly 6,500 construction jobs and 1,000 permanent jobs at the new and expanded facilities. The construction timeline for these projects was not announced. Once Roche’s new and expanded facilities come on line, the firm says it will be able to export more medicines from the United States than it …
ARCADIA, CALIF. — NAI Capital Commercial has arranged the sale of a multi-tenant office building located at 225 E. Santa Clara St. in Arcadia. Los Angeles District Church of the Nazarene sold the property to an undisclosed buyer for $7.4 million, or $341 per square foot. At the time of sale, the 21,673-square-foot building was fully occupied and offers abundant parking. The buyer plans to eventually occupy a portion of the property. Marie Taylor of NAI Capital Commercial represented the seller in the deal.
DENVER — Newmark has negotiated the purchase of a 7,804-square-foot office property located at 1660 17th St. in Denver. 11th Avenue Residential LLC acquired the asset from Struby Warehouse First Floor LLC for $3.4 million. Reed Mclaughlin, Thomas Lee and Jonathan Tilton of Newmark represented the buyer, while Kentwood Commercial represented the seller in the transaction.
CLINTON TOWNSHIP, MICH. — Bernard Financial Group (BFG) has arranged a $3.5 million loan for an office building in Clinton Township, a northern suburb of Detroit. Joshua Bernard of BFG arranged the loan through a banking institution. The borrower was River Ridge Office Building II LLC.
NEW YORK CITY — Ogletree Deakins has signed an 18,000-square-foot office lease at Rockefeller Center in Manhattan. The law firm is relocating and expanding its headquarters from 599 Lexington Ave. to the 24th floor of the 31-story building at 1270 Avenue of the Americas. Michael Berg, Sofia Bruno, Elizabeth Cooper and Brendan Dwyer of JLL represented Ogletree Deakins in the lease negotiations. Blythe Kinsler and Kate Walker internally represented the landlord, Tishman Speyer.