Office

Transwestern, Darwin Realty Arrange 24,400 SF Office Lease in Chicago’s Northwest Suburbs

by Kristin Harlow November 2, 2016

DOWNERS GROVE, ILL. — Transwestern and Darwin Realty have brokered a 24,400-square-foot lease at Corridors I, a 149,896-square-foot office building located at 2651 Warrenville Road in Downers Grove. PLZ Aeroscience Corp., a specialty aerosol product manufacturer, plans to move its headquarters to Downers Grove in February from its current location in Addison. The Downers Grove office will house approximately 80 employees. Corridors I and II were acquired by Transwestern Investment Group in 2013. Transwestern was self-represented by Joe Stevens, Fred Ishler and Lindsay Borkan in the transaction. Adam Haefner of Darwin Realty represented the tenant.

November 2, 2016

Loans Massachusetts Northeast Office

Farallon Capital Management, Anchor Line Partners Receive $150M in Refinancing for 1.29M SF Office Building

by Amy Works November 2, 2016

LOWELL, MASS. — Farallon Capital Management and Anchor Line Partners have closed on $150 million in refinancing for Cross Point, a 1.29 million-square-foot office building located in Lowell. The financing was provided by Starwood Property Trust. A portion of the proceeds were used to refinance the debt put in place at the time of acquisition, while a majority of the balance of the proceeds will be used to fund leasing costs, primarily those associated with the recently announced 435,000-square-foot Kronos lease. The building recently underwent a $10 million renovation to upgrade and enhance the facility.

November 2, 2016

District of Columbia Office Southeast

JBG Cos. Sells Class A Office Building in D.C.’s Georgetown District for $141.8M

by John Nelson November 2, 2016

WASHINGTON, D.C. — The JBG Cos. has sold a Class A, eight-story office building located at 1025 Thomas Jefferson St. in Washington, D.C.’s Georgetown district for $141.8 million. HFF represented JBG Cos. and procured the buyer, Alduwaliya Asset Management, a private investment vehicle based in the United Kingdom that represents a high net-worth family in Qatar. The 317,248-square-foot building is situated directly across from Georgetown Waterfront Park and Washington Harbour. The building was 96 percent leased at the time of sale to 22 tenants including Palantir Technologies, the American Institutes of Research, Carlton Fields, Education Development Center and Combined Properties. Built in 1984, 1025 Thomas Jefferson features two multi-level courtyards with fountains, a brick façade, fitness center, deli, Metrorail shuttle and 268 below-grade parking spaces. Jim Meisel, Dek Potts, Andrew Weir, Stephen Conley and Matt Nicholson led HFF’s investment sales team in the transaction.

November 2, 2016

Florida Office Southeast

Cushman & Wakefield Brokers $130M Sale of Office Campus in Metro Orlando

by John Nelson November 2, 2016

LAKE MARY, FLA. — Cushman & Wakefield has brokered the $130 million sale of Primera Towers, a five-building, 771,826-square-foot office campus in Lake Mary, a suburb of Orlando. Miami-based Parmenter Realty Partners purchased the portfolio from an ownership group including Miami-based Banyan Street Capital, Los Angeles-based Oaktree Capital Management and Munich-based Balandis AG. Mike Davis, Michael Lerner and Rick Brugge of Cushman & Wakefield represented the seller. The transaction is Orlando’s largest suburban office sale since the disposition of Heathrow International Business Center in 2002.

November 2, 2016

New York Northeast Office Retail

Industrie Capital Partners Launches Leasing at 200,000 SF Office/Retail Project in Brooklyn

by Amy Works November 1, 2016

NEW YORK CITY — Industrie Capital Partners has launched leasing at Roulston House – Gowanus, an office and retail redevelopment in Brooklyn’s Gowanus district. The 200,000-square-foot building features 27,000-square-foot to 41,000-square-foot floorplates for technology, advertising, media and information tenants, as well as food and beverage retailers, and up to 70,000 square feet of ground-floor retail space. Designed by Morris Adjmi, the building also features four expansive roof-deck options with outdoor seating and views of the Brooklyn and Manhattan skylines, bike storage, shower facilities, common areas, interior lounges and parking. Redevelopment of the property is underway, with tenant fit-outs slated to start in late 2017.

November 1, 2016

Office Texas

Gardere Wynne Sewell Becomes Largest Tenant at McKinney & Olive in Dallas

by Haisten Willis November 1, 2016

DALLAS — Gardere Wynne Sewell LLP, a Dallas-based law firm, has moved to the McKinney & Olive office building located in Uptown Dallas. The firm is the building’s largest tenant, occupying 115,000 square feet across four floors. The office houses Gardere’s 287 Dallas-based attorneys and legal professionals. Gensler handled the interior design, with work areas featuring a combination of pods, counter-height tables and dedicated and flex space, as well as individual offices with glass walls. Conference rooms can be adjusted for larger or smaller meetings with demountable walls. Archives are now stored electronically, allowing the firm to allocate more space for multi-purpose meeting rooms instead. The firm’s legal library is also now stored digitally.

November 1, 2016

Office Texas

JLL Secures Lease Extension for NCR Corp. in Plano

by Haisten Willis November 1, 2016

PLANO, TEXAS — JLL has secured an office lease extension on behalf of NCR Corp. for the company’s 50,341-square-foot office at Tennyson Office Center – Building I. The property is located at 6100 Tennyson Parkway in Plano. JLL’s Steve Thelen and Doug Carignan negotiated the lease extension on behalf of the tenant, a computer hardware, software and electronics company. Marc Grossfeld of Sunwest Real Estate Group represented the landlord, Tennyson Office Center LLC.

November 1, 2016

midtown-medical-office-building-fort-worth-texas

Healthcare Office Texas

Stan Johnson Completes $19.2M Sale of Medical Office Building in Fort Worth

by Haisten Willis November 1, 2016

FORT WORTH, TEXAS — Stan Johnson Co., a net lease brokerage firm, has completed the $19.2 million sale of the Midtown Medical Office Building, a 57,404-square-foot, multi-tenant medical office building located at 900 Jerome St. in Fort Worth. Toby Scrivner, Jeff Matulis, Grant Wilkins and Colin Cornell of Stan Johnson’s Healthcare Net Lease Group represented the seller, Ridgeline Capital Partners. Stan Johnson Co. also represented the buyer in the transaction. The property is adjacent to the Plaza Medical Center of Fort Worth, a 216-bed short-term acute care facility, and is part of a mixed-use development with both a hotel and restaurants located on site.

November 1, 2016

Office Texas

Younger Partners Arranges Pair of Office Leases in Dallas

by Haisten Willis November 1, 2016

DALLAS — Younger Partners has arranged a pair of office leases totaling 27,979 square feet at Park Central 3 and Park Central 4 in Dallas. The deals included a renewal expansion and a new tenant. Younger Partners’ Heather Shover, Kathy Permenter and Sean Dalton represented the landlord, Pittsburgh-based McKnight Realty Partners, in the deals. In the first transaction, Holmes Murphy & Associates expanded its lease by 20,504 square feet to a total of 72,477 square feet at Park Central 4, located at 12712 Park Central Dr. in Dallas. Sarah Hinkley and T.D. Briggs of Peloton Commercial Real Estate represented the tenant. In the second transaction, Supply Sanitation Systems LLC signed a new 7,475-square-foot lease at Park Central 3, located 12700 Park Central Drive Transwestern’s Nora Hogan and Jordan Wade represented the tenant.

November 1, 2016

Office Texas

WatchGuard Video to Build $46M Office Facility in Allen

by Haisten Willis October 31, 2016

ALLEN, TEXAS — WatchGuard Video, a manufacturer of law enforcement video systems, will be building its new corporate headquarters in Allen, accommodating up to 700 employees. The build-to-suit project will be completed in two phases for a total of 200,000 square feet of office space and a corporate investment of $46 million. WatchGuard’s new corporate headquarters will be located on 12 acres at the intersection of Exchange and Andrews parkways near Cabela’s and Topgolf, just east of Central Expressway. The first phase of the two-story, 140,000-square-foot office facility is expected to cost $36 million and will open at the end of 2017. The company’s second phase, set for a 2022 completion, will add another 60,000 square feet of space and is expected to require an additional $10 million investment. The company expects to move between 280 and 300 employees into the new office, with a total capacity of around 500 employees before further expansion is necessary. The facility will include open group areas for collaborating, training rooms, an outdoor recreation space, indoor racquetball court, gym, health clinic and a “customer experience room” that allows demonstrations of the company’s products.

October 31, 2016

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