Office

M&J Wilkow Completes $15M Renovation of 27-Story Office Building in Chicago

by Amy Works October 4, 2016

CHICAGO — M&J Wilkow has completed a $15 million renovation of a 27-story office building located at 203 N. LaSalle St. in Chicago. The LEED Platinum-certified 624,739-square-foot building has been renovated to create a new arrival experience for visitors and tenants. The lobby has been revamped to add natural light and relocate the reception desk in order to open the space. Additionally, the first-floor concourse level was modernized to create an open walkway and increase visibility for the retail tenants. Other renovations include the addition of a Wi-Fi-enabled technology lounge and conference center, including large-screen televisions and audio/visual equipment; and a state-of-the-art fitness center, in partnership with LifeStart Wellness Network, on the second floor. The fitness center is complimentary for tenants at 203 N. LaSalle after a $50 initiation fee, with additional a la carte service options and classes available. The property is currently 97 percent occupied, with STATS LLC as the newest tenant with 76,852 square feet.

October 4, 2016

Illinois Midwest Office

Mortenson Construction Relocates Headquarters to Itasca, Illinois

by Amy Works October 4, 2016

ITASCA, ILL. — Mortenson Construction is relocating its headquarters to larger office space at 300 Park Blvd. in Itasca from its current location in Elk Grove Village. The company will consolidate its operations into a single space designed for continued growth at the new location. Approximately 50 executives and project support team members will occupy the new office space full time.

October 4, 2016

Massachusetts Northeast Office

Clarion Partners Acquires Two-Building Office/Life Science Complex in Cambridge for $311.2M

by Amy Works October 4, 2016

CAMBRIDGE, MASS. — Clarion Partners, on behalf of a commingled fund managed by the firm, has acquired a two-building office and life science complex, located at 245 First St. in Cambridge, for $311.2 million. Situated in the East Cambridge/Kendall Square submarket, the complex comprises a six-story, 134,175-square-foot life science facility and a nine-story, 170,714-square-foot office tower constructed above a parking garage. The two buildings are connected by a four-story glass atrium and on-site amenities include a common lobby with seating, an on-site café, structured parking, bike storage, lockers and a shower room. At the time of sale, the property was 96 percent leased to a variety of tenants focused on biotechnology and medical research. The name of the seller was not released.

October 4, 2016

New Jersey Northeast Office

CBRE Negotiates $174.5M Sale of 973,000 SF Office Complex in Newark, New Jersey

by Amy Works October 4, 2016

NEWARK, N.J. — CBRE has brokered the sale of 80 Park Plaza, a 973,000-square-foot office park located in Newark. Columbia Property Trust sold the complex to a joint venture between New York-based Nightingale Properties and Simon Glick, a private real estate investor, for $174.5 million. The complex features a 26-story office tower and a three-story plaza building. Serving as the headquarters for Public Service Enterprise Group (PSEG) since 1979, the property is currently 85 percent net leased to PSEG, with 14 years remaining on the lease term. Jeffrey Dunne, Kevin Welsh, Brian Schulz and Dudley Ryan of CBRE represented the seller and procured the buyer in the transaction.

October 4, 2016

Northeast Office Vermont

Nedde Real Estate Signs New Office Tenant in Williston, Vermont

by Amy Works October 4, 2016

WILLISTON, VT. — ASIC North has signed a lease for 10,829 square feet of office space at 291 Hurricane Lane in Williston. The company is expanding its location and relocating from 310 Hurricane Lane. ASIC North provides comprehensive VLSI design services to the semi-conductor industry. The landlords are Doug Nedde and Fernando Cresta. Duncan Harris of The Kingsland Company represented the tenant, while Cresta represented the landlords in the deal.

October 4, 2016

Industrial Multifamily Office Retail Texas

Engvest Commercial Realty Becomes First Dallas Affiliate for Sperry Commercial

by Haisten Willis October 4, 2016

DALLAS — Sperry Commercial Global Affiliates has announced a new franchise affiliate, Dallas-based Engvest Commercial Realty LLC. The first Dallas/Fort Worth affiliate to join Sperry Commercial, Engvest was founded by Daniel Eng to serve its clients as a full-service commercial real estate investment firm. Eng and his business partner Calvin Wong will provide leasing, acquisitions, disposition and property management services under the Sperry Commercial Global Affiliates brand. Engvest brings more than 1 million square feet of retail center listings to the platform.

October 4, 2016

Georgia Loans Office Southeast

Dockerty Romer Arranges $34.2M Loan for Office Building in Atlanta

by John Nelson October 4, 2016

ATLANTA — Dockerty Romer & Co. has arranged a $34.2 million permanent loan for a Class A, 13-story office building located at 2100 Riveredge Parkway in Atlanta. Situated by the Chattahoochee River National Recreation Area, the 264,374-square-foot building is currently 92 percent leased, with United Healthcare as its anchor tenant. Craig Romer and Chris Romer of Dockerty Romer arranged the two-year, floating-rate loan through NXT Capital on behalf of the borrower, Mainstreet Capital Partners.

October 4, 2016

California Office Western

SunCal to Develop 14.5-Acre Mixed-Use Development in Downtown Los Angeles

by Nellie Day October 3, 2016

LOS ANGELES — SunCal is set to develop 6AM, a 14.5-acre mixed-use development located in the downtown Los Angeles Arts District. The project will feature public and private outdoor space; art creation space and exhibition space; creative offices; space allocated for use by a school; fitness centers; two 58-story residential towers offering live/work residences; outdoor pools and spas; hotel; grocer; food hall; retail space; and parking. Architectural firm Herzog & De Meuron is designing the project. A timeline for the development — located at the intersection of 6th and Alameda streets — has yet to be announced.

October 3, 2016

Office Texas

CBRE Arranges Sale of Airport Centre I & II in Metro Dallas

by Haisten Willis October 3, 2016

BEDFORD, TEXAS — CBRE has arranged the sale of Airport Centre I & II, a Class A office complex located in Bedford near the Dallas/Fort Worth International Airport. The property consists of two two-story buildings totaling 251,168 square feet and an overall parking ratio of 5.8 per 1,000 square feet. Constructed in 2000 and 2001, Airport Centre I and II feature 10-foot ceiling heights. With an occupancy rate of 81.6 percent, the property serves as the headquarters of Warrantech Corp. Stanton Road Capital purchased the asset from Allegiancy Houston LLC for an undisclosed price. CBRE’s Eric Mackey, Gary Carr, John Alvarado, Jared Chua, Robert Hill and Pete Van Amburgh arranged the transaction on behalf of the seller.

October 3, 2016

Midwest Missouri Mixed-Use Multifamily Office Restaurant Retail Seniors Housing

Parrot Properties, Block & Co. Receive Approval for $225M Village at View High Development in Lee’s Summit, Missouri

by Amy Works October 3, 2016

LEE’S SUMMIT, MO. — Parrot Properties, in partnership with Block & Co., has received approval for its $225 million Village at View High development in Lee’s Summit from the city’s planning commission. The mixed-use project will feature multifamily space, 250,000 square feet of retail space and more than 100,000 square feet of office and medical space, as well as a proposed senior living facility. To be developed in three phrases, the project will feature 23 acres of land for 300 luxury apartments, 13 acres for a gated-community of senior living villas, townhomes and apartments, and 35 acres for retail, restaurant and office development. The project team includes Engineering Solutions, TransSystems, Hirst and Associates Architects, Bushyhead, and Humphrey, Farrington & McClain PC.

October 3, 2016

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