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Boston-based HqO's Dallas office will be led by industry veteran Clay Curlee who has been hired to grow the company's presence across Texas and throughout the Southwest, GlobeSt.com learns in this EXCLUSIVE.
Construction financing and joint venture equity was recently arranged for the Montrose Collective, a four-building mixed-use development with 150,000 square feet of creative office/retail space.
MiSUMi USA plans to take occupancy of its new space in June of this year. The firm is relocating from 1717 Penny Lane in Schaumburg, where it currently leases 32,000 square feet.
The acquisition includes Bloomfield Business Park, which consists of 16 multi-tenant warehouse/flex buildings and five multi-tenant buildings along Commerce Lane in the Commerce Lane Business Park.
The $165.5 million purchase price is a high number because Park Tower is one of the larger towers in downtown, but on a price per square basis, it was actually lower than the last class-A building sold, 400 Capital Mall.
The name change to Cascade Yard corresponds with the opening of The Yard, the project's new 3,700-square-foot amenity center with indoor/outdoor seating, fitness center, training/conference facilities and cafe.
Sheppard Mullin opened the Dallas office in 2018–the firm's 11th US location and 15th global–with 18 attorneys, and since then, the office has nearly doubled the number of attorneys at Chase Tower.
The deal for 302 West Third marks Time Equities' third acquisition in the Tri-State Region over the last two years. Other notable regional acquisitions include Brookside Industrial Park in Indianapolis and the Arbor at Montana Apartments in Cincinnati.
More than 35 responses to the RFQ were received in December 2019. The development opportunity marks the only time since 2004 that PIDC has offered exclusive development rights and the first time that mixed-use multifamily development will be allowed at the Navy Yard.