AUSTIN, TEXAS — An affiliate of Houston-based Hines has purchased 405 Colorado, a 206,000-square-foot office building in downtown Austin. The building was fully leased at the time of sale to tenants such as JPMorgan Chase, Bain & Co. and AllianceBernstein. Suites feature flexible configurations, and the building’s signature amenity is a 14th-floor sky lounge with conference rooms and a café. According to the Austin Business Journal, Brandywine Realty Trust sold the building for $151 million.
TULSA, OKLA. — Locally based investment firm TruCore Industrial has purchased a roughly 100,000-square-foot complex in northeast Tulsa. The property at 1872 N. 75th E. Ave. consists of four buildings that were fully leased at the time of sale to American Power Innovations, a manufacturer of power and energy equipment. The deal traded off-market. The seller and sales price were not disclosed.
DORAL, FLA. — Avison Young has arranged the $86 million sale of a 14-property small-bay industrial portfolio in Doral, a western suburb of Miami. The price equated to $296 per square foot. The portfolio, which is located along NW 54th Street, NW 56th Street, NW 79th Avenue and NW 82nd Avenue, spans 300,000 square feet. Martin Waas of Waas Realty LLC represented the sellers in the transaction. Waas Realty also handled the leasing and management of the warehouses since their development starting in 1973, according to South Florida Business Journal. Michael Fay and David Spillers of Avison Young, along with Industrial Advisors’ Tommy Gil and David Olade and Michael Waite of Miami Warehouse Real Estate, represented the buyer, Midtown Capital Partners.
NORFOLK, VA. — Newmark has negotiated the $26 million sale of 150 West Main Street, a 233,772-square-foot trophy office tower located in downtown Norfolk’s Waterside District. Kawa Capital Management was the buyer. Mark Williford, Will Bradley and Evan Wells of Newmark represented the seller, Gate Petroleum Co., in the transaction. Constructed in 2002, the 21-story tower’s onsite amenities include 24-hour security service, attached parking, a 2,000-square-foot multi-purpose meeting room, a full-service restaurant and a ground-level bank.
GERMANTOWN, TENN. — Marcus & Millichap has brokered the $24.5 million sale of Conrad Pearson Clinic, a 33,777-square-foot medical office building located in Germantown, roughly 21 miles southeast of Memphis. Spencer Koch and Chris Biuso of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity. Jody McKibben served as Marcus & Millichap’s broker of record in Tennessee in the transaction. Built in 2002 at 1325 Wolf Park Drive, Conrad Pearson Clinic and its integrated affiliate, the Wolf River Surgery Center, fully occupied the property at the time of sale, according to LoopNet Inc. The property is situated near Methodist Le Bonheur Germantown Hospital, Saint Francis Medical Partners Germantown and Baptist Memorial Rehabilitation Hospital.
WINDSOR, CONN. — Metro Boston-based developer Condyne Capital Partners has received approval for an office-to-residential conversion project in Windsor, located north of Hartford. Designed by Maugel Destefano Architects, the project will transform the 99,480-square-foot building at 500 Day Hill Road, which formerly housed the operations of commercial printing and packaging company Konica Minolta, into a 300-unit apartment community. The new apartment community will offer studio, one- and two-bedroom units. Amenities will include a pool, fitness center, pickleball court, multi-purpose court, dog park and outdoor grilling and dining areas. Construction is scheduled to begin this fall.
CHARLOTTE, N.C. — Beacon Partners has broken ground on Rapid Commerce Park, a planned 1.5 million-square-foot manufacturing and logistics park located in west Charlotte. The initial phase will include three buildings at the intersection of Rhyne and Mount Holly roads. The buildings will be 70,825 square feet, 74,722 square feet and 264,490 square feet. Completion is slated for the fourth quarter of 2027. The project team includes general contractors Edifice Construction and Choate Construction, civil engineer Orsborn Design Group and architect WGM Design.
NEW YORK CITY — JLL has provided a $69.5 million Freddie Mac loan for the refinancing of 100 Jane, a 148-unit apartment building in Manhattan’s West Village. Constructed in 1996, the nine-story building comprises 117 market-rate units, 30 affordable housing units and one superintendent unit. The property was fully occupied at the time of the loan closing. According to Apartments.com, 100 Jane exclusively offers studio floor plans. Amenities include a fitness center, sundeck and onsite laundry facilities. Geoff Goldstein, Steven Klein and Michael Shmuely of JLL originated the 10-year, fixed-rate loan on behalf of the borrower, Rockrose Development.
NEW YORK CITY — A partnership between two locally based owner-operators, Olmstead Properties and Vertex, has purchased 19 West 44th Street, a 302,000-square-foot office building in Midtown Manhattan. The 18-story building was 79 percent leased at the time of sale and recently received capital improvements to building systems, common areas and prebuilt suites. Tenants include Yipit, HARMAN International, Robert Derector, Corporate Service Corp., EOS Products and Bitwise. Will Silverman of Eastdil Secured Savills represented the seller, Savanna, in the transaction. Derby Lane Capital provided acquisition financing for the deal.
NEW YORK CITY — Ameriprise Financial Inc. has signed a 37,704-square-foot office lease renewal in Lower Manhattan. The financial advisory firm will keep its space on the 78th floor of One World Trade Center, where it has been a tenant since 2016, for another decade. Josh Kurlioff, Drew Braver, Heather Thomas and Nicole Estevez of Cushman & Wakefield represented the tenant in the lease negotiations. David Falk, Peter Shimkin, Hal Stein, Nathan Kropp and Paige Raisides of Newmark, along with internal agents Eric Engelhardt, Karen Rose and Sayo Kamara, represented the landlord, The Durst Organization, which developed the property in partnership with the Port Authority of New York & New Jersey.