SYRACUSE, UTAH — JLL has arranged an equity placement for the Syracuse Medical Office Building development in Syracuse, approximately 30 miles north of Salt Lake City. CJ Kodani and Mark Root of JLL Capital Markets secured the equity through Chesnut Healthcare Real Estate for the developer, Fort Street Partners. Located at 3000 W. Antelope Drive, the 20,399-square-foot medical office building is fully pre-leased by three regional physical groups. Completed is slated for 2025.
TAMPA, FLA. — JLL has arranged the sale of 100 North Tampa, a 572,111-square-foot office tower in downtown Tampa’s central business district (CBD). At 42 stories, the high-rise is the tallest building in Tampa and was 83 percent leased at the time of sale. Hermen Rodriguez, Ike Ojala, Matthew McCormack, Robbie McEwan, Blake Koletic, Max Lescano and Hunter Smith of JLL represented the seller and procured the buyer in the transaction. Both parties requested anonymity, and the sales price was not disclosed. Amenities at 100 North Tampa include concierge service, a retail bank branch with ATMs, sundry shop, fitness center, conference rooms and a parking garage with electric vehicle charging stations and car detailing. The previous owner recently executed a $21 million renovation prior to the sale. Built in 1992, the tower has achieved LEED Gold, WiredScore Platinum and ENERGY STAR certifications, according to the property website.
NEW YORK CITY — HSBC Bank has signed a 35,400-square-foot office lease expansion at The Spiral, a 66-story tower located in Midtown Manhattan. The company initially signed a 20-year, 265,000-square-foot lease for its headquarters space in May 2022. Following the expansion, HSBC will occupy the entire 29th and 30th floors in addition to three podium floors and a recently opened wealth center at street level. Greg Conen and Sam Brodsky internally represented the landlord, Tishman Speyer, in the lease negotiations. Peter Riguardi, Matt Astrachan, Mitchell Konsker and Will McGarry of JLL represented HSBC.
HOUSTON — Credit union Wellby Financial has purchased 9.5 acres in southeast Houston for its new headquarters facility. The site is located near Baybrook Mall and about three miles from Wellby’s current headquarters office at 1330 Gemini St. The square footage of the new complex was not disclosed, but the project will be developed in phases, with construction scheduled to begin next year. Kelly Hutchinson of Colliers represented Wellby Financial in the land purchase. The seller and sales price were not disclosed.
HOUSTON — Cima Cash Handling America Inc., which provides computer hardware to count and track money, has signed a 3,400-square-foot lease at an industrial flex facility located at 15720 Park Row Drive in West Houston. According to LoopNet Inc., the building spans 28,800 square feet and was originally constructed in 1998. Jason Gibbons of the Finial Group represented the tenant in the lease negotiations. The name and representative of the landlord were not disclosed.
MEMPHIS, TENN. — Cushman & Wakefield | Commercial Advisors has brokered the sale of Poplar Towers, a 100,943-square-foot office building located at 6263 Poplar Ave. in Memphis. Landon Williams and Katie Hargett of Cushman & Wakefield | Commercial represented the sellers, an entity doing business as Poplar Towers Office Center LLC and private investor Brett Kaye, in the transaction. Brian Califf of NAI Saig represented the buyer, Gregory Realty GP. The sales price was not disclosed. The Class B office building is situated in the East Memphis submarket. According to LoopNet Inc., Poplar Towers spans 11 stories, features 258 surface parking spots and was built in 1973.
NEW YORK CITY — Cushman & Wakefield has negotiated a 15,158-square-foot office lease in Midtown Manhattan. The tenant, deal-sourcing platform Grata Inc., will occupy the entire second floor at 1410 Broadway, which recently underwent a $20 million capital improvement program. David Hoffman and Sam Hoffman of Cushman & Wakefield represented Grata Inc. in the lease negotiations. Richard Doolittle, Michael Joseph, John Howard and Taylor Bell of Colliers represented the landlord, L.H. Charney Associates.
GREENVILLE, WIS. — NAI Pfefferle has negotiated the sale of a 31,225-square-foot office building in Greenville, about 35 miles southwest of Green Bay. The sales price was undisclosed, but the asking price was $1.9 million. Amy Oelhafen of NAI Pfefferle brokered the sale of the property, which is located on Aerotech Drive.
NEW YORK CITY — Law firm Meirowitz & Wasserberg has signed a 12,007-square-foot office lease expansion at 1040 Avenue of the Americas in Midtown Manhattan. The deal is part of a series of leases that brings the 24-story building to 97 percent occupancy. Billy Cohen, J.D. Cohen and Ariel Harwood of Newmark represented the owner, Skyline Developers, in the lease negotiations. The tenant representative was not disclosed.
CLEVELAND — Spark GHC and Cleveland Construction Inc. have formed a joint venture to redevelop a 400,000-square-foot office building in downtown Cleveland into mixed-use space. Dubbed Project Scarlet, the $100 million development involves the adaptive reuse of the Rose Building, which formerly served as the headquarters of insurance company Medical Mutual. The joint venture plans to transform the property into a boutique hotel with apartment units and ground-floor retail space. The project team says the development will not only breathe new life into a historic structure, but also address the evolving needs of the Cleveland community for contemporary living spaces and upscale hospitality offerings. Founded in 1934, Medical Mutual is the oldest and one of the largest health insurance companies based in Ohio. The Rose Building had served as the home of Medical Mutual since 1947, but the insurer announced in late 2022 that it would leave the downtown offices for its suburban headquarters in Brooklyn, Ohio, according to Cleveland.com. Since 2020, the Cleveland market has emptied nearly 2.4 million square feet of office space due to negative absorption, according to Newmark. The office vacancy rate increased to 23.4 percent in the first quarter of 2024, up 50 basis points …
