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Office news – page 31
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Additional Washington Federal Properties Identified for Potential SaleThe Public Buildings Reform Board has identified several federal properties in the Greater Washington area for potential sale or redevelopment as part of ongoing efforts to shed millions of square feet of underutilized office space nationwide.
Cirrus Real Estate Partners Supplies $100M Refi on Palm Beach Gardens Office ComplexMiami developer Gatsby Florida has sealed a $100.4 million loan to refinance Divosta Towers, a Palm Beach Gardens office complex, four years after landing a $90 million recapitalization for the 217,208-square-foot asset, Commercial Observer has learned.
Representative imageCushman & Wakefield Negotiates 172,089 SF Office Lease in IrvingIRVING, TEXAS — Cushman & Wakefield has negotiated a 172,089-square-foot office lease in Irving’s Las Colinas district. The new tenant, religious nonprofit organization Mercury One, will occupy the entirety of the building at 6655 N. MacArthur Blvd., which was developed in 1997.
JLL Arranges $42M Loan for Refinancing of Midtown Manhattan Office BuildingNEW YORK CITY — JLL has arranged a $42 million loan for the refinancing of The Nelson Tower Building, a 510,304-square-foot office complex located at 450 Seventh Ave. in Midtown Manhattan.
Seth Hecht Returns to Colliers From JLL as New Senior Vice PresidentSeth Hecht is returning to Colliers after more than eight years at JLL and another three years at Cushman & Wakefield. Colliers announced Wednesday Hecht’s return as senior vice president on its office leasing team, where he worked from 2006 to 2014.
323K-SF San Antonio Office Campus Acquired to SynerMarkA SynerMark Properties-led partnership purchased Union Square I & II, a 323,949-square-foot office campus in North Central San Antonio. Preferred equity was provided by Tryperion Holdings. The seller was a joint venture led by Worth & Associates.
Lee & Associates Negotiates Sale of 70K-SF Oak Brook Office PropertyLee & Associates has negotiated the sale of the 70,497-square-foot commercial office property at 915 Harger Road, located in the heart of Oak Brook’s business corridor.
S3 Capital Lends $102M for Hell’s Kitchen Office-to-Resi ConversionDeveloper Hershy Silberstein has sealed $102 million of construction financing to execute an office-to-residential conversion of the Press Building in Manhattan’s Hell’s Kitchen, Commercial Observer can first report.
Google Recommits to Hudson Square with 411K-SF Lease RenewalGoogle has renewed its 411,000-square-foot lease at Jack Resnick & Sons’ 315 Hudson St. in the Hudson Square submarket, according to Colliers’ latest report on Manhattan office leasing.
Glenstar, Private Investor Acquire 966,924 SF Office Tower in ChicagoCHICAGO — Glenstar, in a joint venture with a high-net-worth private investor, has acquired 500 W. Monroe, a 966,924-square-foot office tower in Chicago with a 1,300-stall parking garage.
Representative imagePGIM Provides $58.5M Loan for Refinancing of Cambridge Office, Retail BuildingCAMBRIDGE, MASS. — PGIM has provided a $58.5 million loan for the refinancing ofOne Brattle Square, an office and retail building located across the Charles River from Boston in Cambridge.
NYC BERS Expands to Full-Floor Lease at 55 Water StreetCBRE arranged a long-term, 78,079-square-foot office lease for the New York City Board of Education Retirement Systems (BERS) at 55 Water St. in Lower Manhattan.
Stream Realty Lists Single-Tenant Mission Viejo Office Property for SaleStream Realty Partners has been selected to market the sale of 20532 El Toro, a three-story, 61,418-square-foot office property in Mission Viejo, formerly known as Mission Foothills Professional Building.
LCG Capital Management Acquires 81,700 SF Office Campus Near St. LouisO’FALLON, ILL. — LCG Capital Management LLC has acquired Colony Square and Williamsburg Center, a seven-building, 81,700-square-foot office campus in O’Fallon near Scott Air Force Base.
Lee & Associates Brokers Sale of 70,497 SF Office Property in Metro ChicagoOAK BROOK, ILL. — Lee & Associates of Illinois has brokered the sale of a 70,497-square-foot office property located at 915 Harger Road in Oak Brook. Tony Russo of Lee & Associates represented the seller, KMMRD Enterprises.
Tourmaline Capital Acquires 376K-SF Dallas Office CampusNewmark arranged the sale and financing of Tollway Plaza, a 376,259-square-foot office campus along the lower tollway at 15950 and 16000 Dallas Parkway in Dallas, Texas.
MRC Provides $480M in Financing for Office-to-Residential Conversion Project in Midtown ManhattanNEW YORK CITY — Madison Realty Capital (MRC) has provided $480 million in financing for an office-to-residential conversion project in Midtown Manhattan.
Representative imageCushman & Wakefield Brokers $17M Sale of Office Building in West Orange, New JerseyWEST ORANGE, N.J. — Cushman & Wakefield has brokered the $17 million sale of a 129,298-square-foot office building in West Orange, about 20 miles west of New York City.
Representative imageSher Tremonte LLP Signs 26,405 SF Office Lease Renewal in Lower ManhattanNEW YORK CITY — Law firm Sher Tremonte LLP has signed a 10-year, 26,405-square-foot office lease renewal in Lower Manhattan’s Financial District. The space spans the entire 22nd and 23rd floors of the 410,000-square-foot building at 90 Broad St.
Capital Group Buys 55-Story Corporate Office Headquarters in Downtown Los Angeles for $210MLOS ANGELES — Local fund manager Capital Group has purchased its corporate headquarters, an office tower located at 333 S. Hope St. in downtown Los Angeles, for $210 million. Capital Group has occupied a portion of the 55-story asset since 1978.