Office
Cardinal Point Soars Into South FL
CalSTRS traded the Class A, LEED Silver office building for nearly $50 million. The buyer plans to renovate the asset, which was built in 1983.
Boston Law Firm Signs 15-Year Lease at Tishman Speyer Tower
Burns & Levinson plans to relocate to 125 High St. next summer. Gensler will design the new collaborative working space, which spreads across two floors connected by a grand staircase.
Macquarie Investment Management to Relocate Philly HQ
The company has agreed to occupy 145,000 square feet at Keystone Property Group’s 100 Independence Mall West in the city’s CBD, with plans to move in by 2020.
What’s Driving Suburban Office Investment in Chicago?
While CBD in-migration continues to drive office demand in the Windy City and throughout the country, a resurgence is starting to occur in some of the city’s submarkets, explains Transwestern Senior Vice President Zach Fox.
A Coworking Pioneer’s Prediction: Exponential Growth
Servcorp has been in the coworking business since the sector’s inception. These days, the company’s COO, Marcus Moufarrige, is examining the changing landlord-tenant relationship and its potential to fuel the segment’s continued expansion.
Group RMC Lands $63M for Chicago Office Purchase
JLL Capital Markets arranged the loan through Morgan Stanley, to facilitate the company’s acquisition of a three-building Class A campus in the metro’s East-West corridor.
Nicola Crosby Buys $50M Houston Office Building
HFF worked on behalf of the buyer to arrange a seven-year, 4.6 percent fixed-rate acquisition loan for its purchase of Westgate I, a four-story, 249,00-square-foot asset.
JOSS Realty Snags $30M VA Office Building
Cushman & Wakefield represented the seller, Finmarc Management, in the disposition of the Offices at Waterfront Center. The property is anchored by Sport & Health, a full-service fitness and health club.
Heitman’s LA Office Tower Earns LEED Platinum
The 640,000-square-foot property—completed in 1971—lowered its electrical consumption by 21 percent since 1998. Additionally, sustainability features include a water reduction of 3.7 million gallons annually since 2010.
Walker & Dunlop Structures $120M for Miami Portfolio
Graham Cos.—which owns 1.2 million square feet of retail, industrial, office and multifamily space in Miami Lakes, Fla.—will use the proceeds to fund additional development projects in the area.