PORTLAND, ORE. — Rosendin Electric has leased 91,650 square feet of office space at Majestic Brookwood Business Park in the Portland submarket of Hillsboro. The park is located at 23677 N.W. Huffman St. The space will serve as Rosendin’s division headquarters. Majestic Brookwood Business Park is a master-planned, 73-acre commercial development that will include up to 1 million square feet of industrial, retail and office space. CBRE’s Scott Weigel represented Rosendin. Colliers’ Mike Thomas and Mark McClung represented the landlord, Majestic Realty Co., in this transaction.
CHICAGO — An affiliate of Switzerland-based Credit Suisse Group has acquired a 100,000-square-foot office building in Chicago’s Clybourn Corridor for $27.8 million. The four-story building is located at 1333 N. Kingsbury St. Everbury Partners, a partnership managed by Structured Development, was the seller. Prior to being purchased by Structured Development’s J. Michael Drew in 1991, the building housed manufacturing operations for Peppers Waterbeds. Drew subsequently converted the building into a multi-tenant loft office building that, at the time of the most recent sale, was 95 percent leased. Current tenants include National Collegiate Scouting Association and TrueBlue, a recruiting and staffing firm. Cody Hundertmark and Blake Johnson of CBRE represented the seller.
CHICAGO — The Chicago operations of the National Restaurant Association has signed a long-term office lease totaling 50,852 square feet of space at Willis Tower in Chicago. This is the first major lease since owner Equity Office unveiled plans for a $500 million modernization at the tower. The National Restaurant Association will occupy the 36th floor and will be in close proximity to some of the new office amenities, including Tower House, a two-story tenant lounge and café, and Tone, a 30,000-square-foot, full-service fitness area. Willis Tower currently has an 85 percent occupancy rate and includes companies such as United Airlines, Dentons, Korn Ferry and Oracle. Jamey Dix, Maggie Brophy and Joy Jordan of Telos represented Equity Office in the transaction. The CBRE Non-Profit Practice Group represented the National Restaurant Association.
DENVER — The Denver Scholarship Foundation has signed a seven-year lease for 7,586 square feet of office space in the Golden Triangle area of Denver. The space is located at 789 Sherman St. The move will allow the nonproft to operate in a larger space with higher cost-savings compared to its current location near downtown Denver. The space is currently being built out, shifting from isolated offices to a more open floorplan to foster collaboration across departments. WinterRidge Builders Corp. is leading the build-out, which Elsy Studios designed. The property also houses the Colorado Collaborative for Nonprofits, which includes the Colorado Nonprofit Association, allowing the Denver Scholarship Foundation to collaborate with neighboring nonprofit organizations. The foundation will also be able to use Colorado Collaborative’s first-floor training center for various events. JLL’s Andy Cullen and Barry Dorfman represented the foundation. Alan Bruno of Centrepoint Properties represented the landlord in this transaction.
NEW YORK CITY — Zar Property NY has acquired a 145,170-square-foot office building located at 250 W. 54th St. in Midtown Manhattan. Ascot Properties Limited Partnership sold the property for $83.1 million. Paul Davidson, Roy Lapidus and Chip Parker of Newmark Grubb Knight Frank represented the seller in the deal.
LAKE JACKSON, TEXAS — HFF has closed the sale of the DOW Administration Building, a 230,000-square-foot, Class A office building in Lake Jackson. Situated on a 13.4-acre site on Texas Highway 322 near Abner Jackson Parkway, the four-story building, which is fully leased to The Dow Chemical Company, is roughly 42 miles south of downtown Houston. Danny Miller, Mark West and Martin Hogan of HFF represented the seller, CORE Real Estate LLC, in the transaction. The firm also procured the buyer, Cole Corporate Income Trust II Inc.
PLANO, TEXAS — NewGate Development plans to open CityCentral, a coworking and executive office space in Plano, a northern suburb of Dallas. Located on Spring Creek Parkway west of the Dallas North Tollway, CityCentral totals 36,000 square feet of workspace, including a 12,000-square-foot creative collaboration center. The property is scheduled to open March 1.
LOS ANGELES — 4M Investment Corp. has purchased a 103,154-square-foot office building in the Los Angeles submarket of Universal City for an undisclosed sum. The Class A building is located at 3330 Cahuenga Blvd. The asset is 98 percent leased to tenants like Extreme Reach, Panasonic, EPS-Cineworks and Abominable Pictures. It was built in 1988. NGKF Capital Markets’ Kevin Shannon, Rob Hannan and Michael Moll represented the seller, Blackstone, in this transaction. The local market leasing team of Rob Erickson and Trevor Belden from Industry Partners also assisted in the deal.
FLOWER MOUND, TEXAS — Yeager Properties has been approved by The Town of Flower Mound to bring new office suites to the town, which is situated on the outskirts of Dallas. The designated location at 3611 Cross Timbers Road will feature roughly 40,000 square feet of office space capable of accommodating as many as 400 people. An additional plot of 8,665 square feet has been reserved as add-on space for two unnamed restaurants. Yeager, which already has a presence in Plano, Frisco and Allen, plans to deliver the new office space this November
PHILADELPHIA — Harrison Street Real Estate Capital has purchased two medical office buildings, located at 8001 and 8040 Roosevelt Blvd. in Philadelphia. An affiliate of George Comfort & Sons sold the properties, which total 86,000 square feet, for $17 million. The properties recently underwent renovations and were 94.7 percent leased at the time of sale. Thomas Jefferson University Hospital anchors the facilities. Ben Appel, Philip Mahler, Evan Kovac and Eric Anton of HFF represented the seller in the transaction.