Office

Unilev Capital Begins $3M Renovation Program for Three Riverway Office Tower in Houston

by Jeff Shaw May 12, 2017

HOUSTON — Unilev Capital Corp. is underway on a $3 million renovation program for Three Riverway, a 395,637-square-foot office tower in Houston’s Uptown/Galleria submarket. Plans include improvements to the lobby, plaza and parking garage. Unilev expects to wrap up the renovations by the end of the summer. Steve Rocher, Kristen Rabel and Parker Duffie of CBRE’s Houston office handle the leasing assignment for Three Riverway, which is currently 80 percent leased. Existing amenities at Three Riverway include an executive conference center, fitness center and 24/7 security. Unilev’s corporate offices are located in the Riverway office complex.

May 12, 2017

HFF Brokers $25.3M Sale of Office Property in Syracuse, N.Y.

by Haisten Willis May 12, 2017

SYRACUSE, N.Y. — HFF has brokered the $25.3 million sale of One Lincoln Center, a 305,594-square-foot office tower in Syracuse. HFF marketed the property on behalf of a private seller and procured the buyer, Zamir Equities. One Lincoln Center is located in the center of downtown Syracuse at 110 W. Fayette St. The property is surrounded by the Syracuse Federal Building, the Pike Block and city hall. The 17-story property is 86 percent leased to tenants including JPMorgan Chase, Bond Schoeneck & King PLLC, Cadaret Grant & Co LLC, Bousquet Holstein, Grossman St. Amour and Arcadis. The HFF investment sales team representing the seller was led by Rob Rizzi, Steven Rutman and Michael Oliver.

May 12, 2017

Loans Office Southeast Virginia

CBRE | Hampton Roads Arranges $35.3M Loan for Office Building in Downtown Norfolk

by John Nelson May 12, 2017

NORFOLK, VA. — CBRE | Hampton Roads has arranged a $35.3 million loan for the SunTrust Building, a 225,286-square-foot office building located at 150 W. Main St. in downtown Norfolk. John Richards Jr. of CBRE | Hampton Roads arranged the long-term, fixed-rate loan on behalf of the borrower, 150 Owner LLC, which will use the financing to refinance existing debt on the property.

May 12, 2017

California Office Western

M&M Negotiates Sale of Net-Leased Property in Chino Hills for $4.8M

by Nellie Day May 12, 2017

CHINO HILLS, CALIF. — Marcus & Millichap has arranged the $4.8 million sale of KinderCare, a 9,640-square-foot, net-leased property located in Chino Hills. Kevin Boeve, Joshua Rey, Pablo Rodriguez and Joshua Alvarez of Marcus & Millichap’s Ontario office marketed the property on behalf of the seller, a private investor. The listing team collaborated with the buyer, a southern California-based purchaser utilizing a 1031 tax-deferred exchange. KinderCare is located at 13815 Peyton Drive.

May 12, 2017

California Life Sciences Office Western

Pacific Biosciences Leases Space at Menlo Park Labs

by Nellie Day May 11, 2017

MENLO PARK, CALIF. — Pacific Biosciences of California has leased space at the 180,000-square-foot Menlo Park Labs life science building. The space is located at 1305 O’Brien Drive. The structure was formerly an Office Max distribution facility. Other tenants at the lab include Refuge Biotechnologies and AccuraGen. The space will serve as Pacific Biosciences’ corporate headquarters. The firm leased the space through 2027. The landlord is Tarlton Properties.

May 11, 2017

Illinois Midwest Office

Ivanhoé Cambridge, Callahan Capital Acquire Chicago Office Property for $145M

by Kristin Harlow May 11, 2017

CHICAGO — Ivanhoé Cambridge and Callahan Capital Properties have acquired 125 S. Wacker Drive in downtown Chicago for $145 million. The 576,000-square-foot office building is situated at the corner of South Wacker Drive and West Adams Street in the West Loop. The property features a variety of tenant amenities, including a fitness center, conference center, quick-serve restaurant and financial services. The 31-story tower was originally constructed as a headquarters facility for Northern Trust. The new owners plan to make upgrades to the lobby, elevators and other amenities.

May 11, 2017

Mixed-Use New Jersey Northeast Office Restaurant Retail

Edison Properties Begins Redevelopment of Ironside Newark in New Jersey

by Haisten Willis May 11, 2017

NEWARK, N.J. — Edison Properties has begun construction at Ironside Newark, a mixed-use building in downtown Newark. Located at the corner of Edison Place and McCarter Highway (Route 21), Ironside Newark will transform the warehouse building into a commercial and retail destination. Designed by New York City-based Perkins Eastman, the project will include 456,000 square feet of offices across its six upper floors, with access to a rooftop featuring green space and views of Newark and Manhattan. Two floors of retail and restaurant space will front the newly announced Mulberry Commons Park, providing a link between Ironside Newark and Newark Penn Station, Prudential Center arena and downtown Newark. Hollister Construction Services will serve as the sole construction manager on the project. Construction on the building is expected to last 18 months, with opening tentatively scheduled for fall 2018.

May 11, 2017

Healthcare Northeast Office Pennsylvania

Good Shepherd Medical Center Opens at Weis Plaza in Kutztown, Pa.

by Haisten Willis May 11, 2017

KUTZTOWN, PA. — Good Shepherd Medical Center at Weis Plaza has opened in Kutztown. Weis Plaza is a retail center anchored by Weis Supermarket, with other tenants including Dollar General and National Auto Stores. The center is located one mile from the University of Kutztown. Good Shepherd is an Allentown, Pa.-based rehabilitation center offering care for people with medical needs, physical disabilities, cognitive disabilities and injuries. Nassimi Realty, a privately held development and investment company specializing in the redevelopment of existing properties, is the owner of Weis Plaza.

May 11, 2017

Arizona Office Western

Healthcare Trust of America Acquires Medical Office Portfolio in SoCal, Arizona for $150M

by Nellie Day May 10, 2017

SCOTTSDALE, ARIZ. — Healthcare Trust of America has purchased an 11-property medical office building portfolio based in Southern California and Arizona for $150 million. The portfolio contains a total of 592,000 square feet. The assets are 83 percent leased. They are primarily situated on the Dignity Health campuses. The acquisition includes McAuley Medical Center on the St. Joseph’s Hospital and Medical Center campus in downtown Phoenix.

May 10, 2017

District of Columbia Office Southeast

NGKF Arranges Three Office Leases in D.C.’s Capitol Riverfront District

by John Nelson May 10, 2017

WASHINGTON, D.C. — Newmark Grubb Knight Frank (NGKF) has arranged three lease deals totaling 26,332 square feet at a 10-story office building located at 1100 New Jersey Ave. S.E. in Washington, D.C.’s Capitol Riverfront district. The new tenants include The African Wildlife Foundation (AWF), law firm Watkinson & Miller and defense and government contractor Assett Inc. AWF has leased 15,024 square feet on the ninth floor, relocating from 1400 16th Street N.W.; Watkinson & Miller leased the remaining 8,630 square feet on the ninth floor, relocating from One Massachusetts Avenue N.W.; and Assett Inc. leased the remaining 2,678 square feet on the seventh floor. Owned by WC Smith, the newly renovated office building overlooks the Potomac River, U.S. Capitol, Canal Park and Nationals Park. WC Smith’s recent renovations at the Class A building include a new fitness center, bicycle storage and a new conference center. Brendan Owen, Rafael Notario and Morgan Monroe of NGKF represented WC Smith in the lease negotiations. Bill Zonghetti and David Hardcastle of NGKF represented AWF, Terry Amling of Lincoln Property Co. represented Watkinson & Miller and Neil Narcisenfeld and Sarah Frick of Ezra Co. represented Assett Inc.

May 10, 2017

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