Suburban areas are experiencing a boom. Over the last year, CommercialEdge observed a rise in flex space, reaching 124.8 million square feet from 113.5 million. San Francisco leads nation in office occupancy losses. Image by Jason Doiy via iStockphoto.com Suburban markets accounted for nearly all this expansion, with a notable increase of almost 9 million square feet of coworking space, compared to a marginal 400,000 square feet in urban regions. As a result, the suburban share of national flex space has jumped to 47 percent, nearly equal to its urban counterpart, which amounts to 48 percent ..read more

Rittiman Crossroads will feature 32-foot clear heights, 36 trailer stalls and four drive-in doors upon completion. Image courtesy of Byline Bank A joint venture of TradeLane Properties Fund III and Phelan Development Co. has obtained $14 million in construction financing for Rittiman Crossroads, a 257,000-square-foot project in San Antonio. Byline Bank’s Commercial Real Estate Group provided the note. This marks the 13th transaction Byline financed for TradeLane and its affiliates. Law firm Holland & Knight represented the lender in the transaction, while Franklin Law Group worked on behal ..read more

KBS has sold SouthTech Business Center, a 260,112-square-foot light industrial property in Austin, Texas. A 1031 investor represented by MIG Real Estate purchased the four-building campus. JLL brokered the transaction and Greenberg Traurig acted as legal counsel for the seller. California Bank & Trust—a division of Zions Bancorporation—provided a $34.5 million loan for the acquisition of the Class A property, according to Travis County records. SouthTech Business Center is on a major Capitol Metro bus route with multiple stops near the property. All images courtesy of KBS The campus ..read more

Amazon Web Services also recently completed the purchase of a data center campus in Pennsylvania. Screenshot from a video presentation by Talen Energy/Cumulus Data Amazon Web Services, an Amazon subsidiary, is set to invest $11 billion in a data center campus in northern Indiana, officials said on Thursday morning. The project will mark the largest capital investment in state history. The development is set to include data storage drives, computer servers, networking equipment and other modern technologies to further support the cloud computing company. AWS selected the Indiana location for it ..read more

A Newmark team also arranged the sale of Northmark Commerce Center in Fort Worth, Texas. Image courtesy of Newmark AHF Products has sold two Crossville, Tenn., industrial sites totaling five buildings and 919,405 square feet. TPG Angelo Gordon bought the properties in a sale-leaseback transaction; the maker of hard surface flooring will continue to occupy the facilities long-term, with its stay structured under an absolute net-master lease. Newmark Vice Chairman Andrew Sandquist, Executive Managing Director JC Asensio and Managing Director Briggs Goldberg of the firm’s Capital Markets Gro ..read more

Martens Development Co. has broken ground on Brickyards on Ellsworth, a 909,553-square-foot Class A industrial development in Mesa, Ariz. The industrial park is slated for completion in the second quarter of next year. The developer of Brickyards on Ellsworth will target warehouse, distribution and manufacturing tenants. Image courtesy of Martens Development Co. The Brickyards on Ellsworth project received unanimous approval from the Mesa City Council last year. The price of the multi-building development is estimated at $153.6 million, according to Phoenix Business Journal. Martens purchased ..read more

Oracle Chairman Larry Ellison may have inadvertently spilled the beans about moving the software company’s world headquarters to Nashville, Tenn., Tuesday but the news wasn’t a total surprise in the city that has seen other big corporate relocations and major office and mixed-use developments in recent years. Nashville’s Imagine East Bank Vision Plan developed by the Nashville Planning Department. Image courtesy of courtesy of Metropolitan Government of Nashville and Davidson County The Austin, Texas,-based company was already in the city, having bought a 65-acre site in the city’s East Bank s ..read more

Construction on the project began in 2021. Image courtesy of PMB and Providence St. Joseph Hospital PMB, in partnership with Providence St. Joseph Hospital, has opened Helen Caloggero Women’s and Family Center, a 137,000-square-foot medical office building in Orange, Calif. The development team included Boulder Associates as project architect and Snyder Langston as general contractor. Harrison Street served as capital partner in this development and Siemens also provided financing. In addition, PMB obtained a $77.6 million construction loan from Capital One in August 2021, according to Commerc ..read more

The four-story, 90,089-square-foot building is part of Perimeter Park, a 3 million-square-foot master-planned development. Image courtesy of Trinity Partners Education technology pioneer IXL Learning has expanded its East Coast headquarters by 22,309 square feet at Perimeter Park in Morrisville, N.C. The company now fully occupies the 90,089-square-foot office building at 1600 Perimeter Park Drive. Mapletree US Income Commercial Trust is the landlord. IXL Learning first moved to the campus in 2016, committing to 17,000 square feet at 1500 Perimeter. Since then, the firm has signed two consecut ..read more

860 Broadway used to be one of Andy Warhol’s studios. Image courtesy of CommercialEdge Flexible office space provider Industrious has signed a lease extension and expansion for its space at 860 Broadway in Manhattan, bringing its footprint at the property to 27,630 square feet across two floors. The firm previously occupied 13,815 square feet at Gordon Properties’ building. Cushman & Wakefield brokered the deal on behalf of Industrious, while JLL represented the landlord. Originally built in 1884 and renovated in 1926, 1979 and 2019, the historic property rises six stories and spans 84,000 ..read more