Coterie Properties is leading a team aiming to transform The Station and Jefferson Plaza office properties along Holcomb Bridge Road in Norcross into a mixed-use development.

The Atlanta Business Chronicle reports plans include 320 wrap-style apartments, 30 townhomes and 16,100 square feet of restaurant and retail space.

The first phase of the redevelopment would focus on a pair of restaurant and retail buildings that would rise on the footprints of two existing buildings.

The rest of the buildings to the south of the creek would be torn down to make room for the apartments and townhomes.

A second phase of the project would likely include a new parking deck and approximately 150 age-restricted apartments for people ages 55 and older, replacing surface parking behind Jefferson Plaza.

With an estimated price tag exceeding $100 million, the first phase would be built concurrently and take about two years to complete.

Norcross City Council would have to rezone the properties in order for the project to move forward.

CBRE completed a 139,377-square-foot office lease for the General Services Administration on behalf of Customs and Border Protection (CPB) at One Aviation Plaza in Queens’ Jamaica neighborhood. CBP will relocate its operations from Building 77 at John F. Kennedy International Airport to the entire first, second, third and part of the fourth floors at One Aviation Plaza, located at 159-30 Rockaway Boulevard. The space formerly housed the Federal Aviation Administration.

The CBRE team of Vincent LaManna, Richard Freel, Maria Kobe and Ralph Guiffre represented GSA/CBP in the lease negotiations with the building ownership. Jeffrey Sussman of the Edward J. Minskoff organization and JLL’s Joe Brennan and Chloe Edwards acted on behalf of the building ownership.

“This was one of the most significant regional transactions the federal agency has recently undertaken,” said LaManna. “One Aviation Plaza became the logical choice given its immediate access to the airport, its high-level security infrastructure, with a landlord with the proven ability to create the 21st century HQ the agency envisioned.”

Savanna said Tuesday it had acquired 799 Broadway, a 12-story, 176,588-square foot, Class-A office in Greenwich Village. The investment manager acquired the distressed office property from Columbia Property Trust and Cannon Hill Capital Partners at a deeply discounted $255 million, through a lender-controlled sale process administered by Blackstone.

799 Broadway was delivered in 2022, making it one of the newest buildings in New York City. Located at the intersection of Broadway and 11th Street, south of Union Square, the property is 71% leased with an 11-year WALT for current tenants.

Kerry Powers, managing director with Savanna, said the property was “representative of the opportunities Savanna continues to pursue, acquiring some of the very best real estate in New York City at extraordinarily discounted prices given the current turbulence in the market.”

Both Savanna and the seller were represented by an Eastdil Secured team led by Gary Phillips and Will Silverman.

DAZN, a global sports streaming service, has leased the entire 14th floor at SJP Properties’ 470 Park Ave. South for its U.S. corporate office. Terms of the long-term lease were not disclosed.

“DAZN is extremely excited to be relocating in New York City into the 470 Park Avenue property,” said Grant Sprigings, head of property & facilities at DAZN Group. “We visited many locations during our time exploring a new office location and felt 470 Park Ave. South provided the perfect blend of location, facilities, and amenities. The office space is high-end and modern with an external terrace that will allow DAZN to host partner events throughout the year.”

Nicholas Farmakis and John A. Johnson, Jr. of Savills represented DAZN, while SJP Properties was represented by the CBRE team of vice chairmen Paul J. Amrich and Neil V. King III, SVP James Ackerson and senior associate Josh Pernice.

CBRE Capital Markets’ Debt & Structured Finance group secured a $37.75-million loan to refinance 101 Redwood Shores, a Class A office building located in Redwood City. EVP Mike Walker and Brad Zampa of CBRE’s Northern California Capital Markets Institutional Properties team represented the sponsor, Diamond Investment Properties. A Chicago-based financial institution originated the loan.

“The property’s modern amenities, prime location and the opportunity for a long-term relationship with the sponsor led to an attractive outcome,” said Walker. “Financing office assets requires incredible creativity right now due to the broader headwinds in the asset class. Achieving a balance sheet execution with an accretive combination of pricing and proceeds is a win and sets a great comp for the market as liquidity begins to return to the asset class.”

101 Redwood Shores is 100,000-plus-square-foot office building that is 100% leased to Zuora for approximately five years. It’s located just off U.S. 101 on the San Francisco Peninsula.

An office building built in 1904 between Nashville Yards and Lower Broadway is on the block. 810 Broadway, the 5-story 88,000-square-foot brick building has been revamped enough over the years to remain viable.

The asking price is $34 million. Crews Johnston, Charlie Gibson and George Mullowney are handling the sale for Cushman & Wakefield.

The Broadway building is recognizable by the red “Morgan & Morgan” sign on the outside. The law firm has long been the anchor tenant of the office building but will be relocating to a 19,500-square-foot space in One Nashville Place.

The seller’s agents suggest that a buyer could convert the building to an apartment, hotel or restaurant.

Nashville-based Magnolia Investment Partners owns the building. In 2021, the firm paid $16.5 million for the 0.4-acre site. The seller was an LBCW, which paid $11.36 million for the building in mid-2018. The building sold in 1982 for $665,000.

Drawbridge Realty has acquired 2220 Colorado Ave., a 225,773-square-foot headquarters building in Santa Monica’s Silicon Beach neighborhood, for a reported $185 million. The building is 100% triple-net leased to Universal Music Group (UMG) as its operational headquarters.

“This is a high-quality property with a strong, longtime tenant and a very creative build-out that establishes the building as one of the signature assets in Santa Monica,” said Jaden Rosselli, VP of investments & asset management, Drawbridge Realty. “It’s a wonderful addition to our national portfolio.”

The seller, Clarion Partners, was represented by Newmark’s Kevin Shannon, Alex Foshay, Ken White, Rob Hannan, Laura Stumm and Michael Moll. UMG recently signed a long-term lease extension at the property.

Also known as Arboretum Gateway, 2220 Colorado Ave. has two UMG-operated recording studios, several conference facilities, secure parking with direct elevator access, an onsite food commissary and coffee bar, collaboration areas and outdoor decks.

Flagship Healthcare Properties (Flagship) acquired and will repurpose a 
Class A office building into a healthcare destination center for providers in Wilmington, North Carolina. Flagship paid $21 million for the three-story, 153,526-square-foot property at 3601 Converse Road that was purpose-built as a single-tenant office building formerly occupied by a Verizon call center.

Flagship is on its way to repositioning this property as an outpatient healthcare campus, and has 
already received lease commitments from Novant Health, whose tenancy in the building 
will begin in 2025 with services that will eventually occupy two floors of the building in 
the newly branded Flagship Medical Plaza. 

The former Verizon building will house various services, including an OB/GYN clinic. It will also house specialists in pulmonary medicine and pain management along with endocrinology and rheumatology – two specialties for which it can be difficult to recruit providers. The building will also house other lab services, including radiology, pharmacy and some infusion chairs.

Colliers is marketing the sale of 2 Gatehall Dr., a 389,000-square-foot office property in Parsippany, NJ. A Colliers team led by vice chair Jacklene Chesler, VP Patrick Norris, associate Jake Moss and director Philippe Jomphe is marketing the property, which is listed on Ten-X for auction from October 7 through October 9.

Originally designed to support big data and technology operations, the property is equipped with enhanced floor loads to accommodate high-tech equipment. It’s located within a master-planned 58-acre corporate campus and has undergone nearly $6 million in capital investments.

“The property offers a unique opportunity for investors seeking both stability and growth,” said Chesler. “The property, currently 30% leased to credit tenants, offers positive cash flow from its in-place leases. This provides a value-add opportunity to significantly increase net operating income through the lease-up of the remaining vacant space, making this an attractive asset in today’s current market.”