Highwoods Properties sold Bridgestone Tower, a 513,000 square foot office tower in Nashville, for $255 million. This property is 100% leased and is projected to generate approximately $17 million of annual cash in 2026. Eastdil Secured advised the seller on this transaction.

Drawbridge Realty was the buyer of the 30-story, Class AA office tower. The property was developed as a build-to-suit for Bridgestone Americas and delivered in 2017. The property is fully leased to Bridgestone, the tire and rubber company.

Bridgestone Tower is positioned in Nashville’s central business district, within walking distance of Broadway, Bridgestone Arena, the Music City Center, and the Country Music Hall of Fame.

With the addition of Bridgestone Tower, Drawbridge has acquired more than $740 million in assets in the last 12 months, totaling over 1.1 million square feet.

Colliers has been awarded the exclusive leasing assignment for 601 City Center, located in Oakland’s downtown. The firm has been hired by the new owner, Kennedy Wilson, to lease the property’s 24-story, 607,000-square-foot office tower. EVPs Charlie Allen and Anthony Shell and SVP Amber Merrigan will lead the marketing efforts.

“We’re excited to reintroduce Bay Area companies to this exceptional office tower,” said Allen. “Its new construction and upgraded design features, including a double-glazed glass curtain wall and illuminated exterior, make it an outstanding option for companies seeking a distinctive new home. We can accommodate a large contiguous block of approximately 260,000 square feet or professional suites starting at 5,000 square feet.”

Built in 2019, the Class A tower is the first high-rise office building constructed in the city in roughly a decade. Kennedy Wilson acquired it in April through foreclosure, according to published reports.

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The Raleigh skyline

Retail space is becoming such a hot commodity in North Carolina’s urban markets that developers are changing their plans to include more of it.

New York-based Tidal Real Estate Partners has altered plans for its proposed 20-story mixed-use tower in downtown Raleigh to add retail space, the Triangle Business Journal reported. The project’s ground-floor retail space will now span 20,601 SF instead of the originally planned 18,650 SF.

A Colliers Raleigh-Durham Q1 2026 retail market report noted that this is “the fourth consecutive year the market has maintained sub-3% vacancy, highlighting the ongoing scarcity of available space.” Raleigh’s Village District even has a waitlist for retailers looking to lease space, TBJ reported. 

A Marcus & Millichap retail forecast published in March ranked Raleigh and Charlotte as the top two retail markets in the U.S. Throughout last year, the report found, Raleigh withstood the departures of many big-box retailers through increased leasing demand from small-business owners.

Andrew Margulies, Marcus & Millichap’s senior managing director of investments for the Carolinas, previously told Bisnow that there is an almost unlimited appetite for well-located retail centers in both Charlotte and Raleigh. 

Several of Raleigh’s incoming high-rises will include ground-level retail, among them the 20-story The Strand, a predominantly residential building with nearly 9K SF of retail, and the 37-story Highline Glenwood, another residential building that will include 7,500 SF of retail.

With Tidal’s revamped plans for its tower, which sits on a 1.4-acre lot at 521 and 529 S. Wilmington St. and 108 Stronachs Alley, the developer has also added parking space and taken away some apartment units. There will now be 368 parking spaces in a 153,812 SF parking deck instead of 313 spaces in a 166,400 SF deck, as well as 13 fewer apartment units.

These changes — part of Tidal’s application to extend the approved site plans, which had been set to expire in February — have increased the size of the proposed tower from about 583K SF to just under 591K SF. 

The developer reportedly originally paid $12M for the site in 2021. 

Tidal’s extension was permitted, and the revised plans are good until January 2028, according to TBJ. While the developer has not yet submitted an application for a building permit, the site review process is already complete. 

Tidal’s other Raleigh projects in the works include the renovation and rebranding of its Holiday Inn on Hillsborough Street and the construction of a 13-story luxury hotel next to it.

Related Ross CEO and Miami Dolphins owner Stephen Ross added yet another headquarters to his growing collection within his West Palm Beach office buildings.

Courtesy of Collin Miller Photography

One Flagler at 180 Lakeview Ave.

Wells Fargo & Co. signed a 50K SF lease with Related Ross at the One Flagler office building in West Palm Beach to house a new headquarters for its wealth-management business, Wells Fargo Wealth & Investment Management, wealth chief Barry Sommers told Bloomberg.

“West Palm Beach’s strong business climate and expanding economic opportunities align well with our long‑term growth priorities—both in the region and across our organization,” a representative for Wells Fargo said in a statement shared with Bisnow. “Numerous members of WIM’s leader team will continue to be based in New York, St. Louis and Charlotte, North Carolina.”

About 100 employees will relocate to the new office, which opened its doors last year, by the end of 2026. This brings the office tower to 100% leased, a Related Ross representative confirmed to Bisnow.

The move, nearly two years in the making, is just the beginning of an expansion in the area. Sommers told Bloomberg the company plans to hire more employees, specifically looking to attract financial advisers, private bankers, and independent broker-dealers, and may rent additional space.

Wells Fargo is joining a list of tenants at One Flagler, including Vista Investments of Florida, GoldenTree Asset Management and Ocean Sound Partners. 

“Wells Fargo is making a bold move by bringing senior leadership and a major office of its wealth‑management business to One Flagler in West Palm Beach,” Related Ross Executive Vice President Jordan Rathlev said in a statement. “It’s a strong sign of long-term confidence in our city and in South Florida’s growth.”

The 25-story building has a 19K SF terrace and green space that overlooks Palm Beach Island, a Greek-style restaurant named Estiatorio Milos, retail space and offices, according to its website.

Related Cos. purchased the site in 2021 for $20M from the First Church of Christ Scientist, West Palm Beach, according to the Vizzda database, before Related Ross spun off into its own West Palm Beach-focused development company led by Ross in 2024. 

One Flagler was the first building to open under Related Ross.

Bisnow/Chloe Gallivan

The Related Ross showroom within the Shops at CityPlace in West Palm Beach illustrates the development plans for the city.

The company, which has 1M SF of office space under construction, spearheaded West Palm Beach’s development — especially after Ross pledged to spend $10B to turn the city into the “Wall Street of the South.”

But the company is looking to claim multiple titles for the region. Related Ross Vice President of Leasing Greg Kuhlman said at a Bisnow event in 2024 that the company was working to expand beyond financial service firms to technology companies and make West Palm the “next Silicon Valley.”

At another Bisnow event in December, Rathlev said the company’s next “big push” for West Palm Beach was in defense tech.

Other Related Ross developments have also attracted headquarters, like 10 and 15 CityPlace, which inked a deal with ServiceNow for 200K SF to host its regional headquarters in September.

Tech firm Visium also plans to open its headquarters at the 477 Rosemary boutique office building at Related’s CityPlace, The Real Deal reported.

A 24-story office building in Charlotte has changed hands. 

Highwoods Properties Inc. acquired 6Hundred at Legacy Union, a 411K SF office tower in Charlotte, from Lincoln Property Co. for $230M, according to Charlotte Business Journal, citing Mecklenburg County property records. 

This acquisition, which closed Wednesday, boosts the Raleigh-based REIT’s portfolio at Legacy Union — a multibuilding development — to 1.6M SF of trophy office space. 

Earlier this year, Highwoods acquired Legacy Union’s 14-story, 1.1M SF parking garage at 720 S. Church St. for $110M. The garage encompasses 3,057 parking spaces.

Highwoods now has three buildings at Legacy Union and eight overall across Charlotte.

Currently, 6Hundred is 84 percent leased with an average lease term of over 12 years. Tenants include American Express, law firm Robinson Bradshaw and Pike Corp.

With the sale, Highwoods plans to invest $8.5M for both near-term building improvements and leasing capital expenditures to stabilize the property’s occupancy rate. 

Under the agreement, Dallas-based Lincoln was reportedly scheduled to receive some $15.7M credited for free rent and other leasing-related expenses it provided before the building shifted ownership.

Highwoods projects to stabilize occupancy at the tower by 2027 and will realize $17.5M to $18.5M in net operating income annually at that point.

The 6Hundred property is connected to the Highwoods-owned Bank of America Tower and SIX50 South Tryon.

Highwoods is a publicly traded REIT that owns, leases and manages properties in several business districts across the Southeast. 

Charlotte’s office building market has been “entering a new phase of stability,” according to a recent Colliers market report, with long-term tenant demand rising. As reported by Savills Research, Charlotte leased 1.3M SF of office space in Q3, marking its strongest quarter of leasing volume in five years.

The 36-story 101 Marietta St. tower is for sale. The Atlanta Business Journal reports that real estate observers estimate that offers for the building will come in at about $67.5 million. The 675,000-square-foot building overlooks Centennial Yards. 

101 Marietta is owned by Dilweg Cos., which paid $68.8 million for the property in 2015. It tried to sell the building in 2020. At that time, it expected offers of more than $150 million. 

Downtown’s office vacancy rate remains over 30%, according to fourth-quarter 2024 data from CBRE.

Newmark’s Jay O’Meara, Justin Parsonnet and Ryan Reethof, along with CBRE’s Will Yowell, are marketing 101 Marietta for sale. 

The building is 62% leased. Its tenants include the Atlanta Hawks and coworking company Industrious. It also includes the offices for developer Centennial Yards Co. 

Cushman & Wakefield has been named the exclusive listing agent for the Industrious flex space at Tower 49, located at 12 E. 49th St. in Midtown Manhattan. The firm’s John Picco, Justin Halpern and Alex Lachmund will work with Industrious to lease the space, which totals approximately 265,000 square feet across 16 floors. 

“This is truly a one-of-a-kind opportunity,” said Picco. “What sets this space apart is its remarkable versatility—whether you’re a start-up looking for short-term flexibility or a large enterprise needing scalable long-term solutions, this space solves for it all.”

Tower 49 will offer programmatic upgrades throughout its floors, which span roughly 16,000 rentable square feet each. Ownership will install a high-end conference center to be designed and managed by the Industrious Tenant Experience Management Team. It will accommodate meetings from six to 110 people. In addition, other amenities may be incorporated in due course.

Highwoods Properties a publicly traded REIT, acquired Advance Auto Parts Tower, a 20-story highrise, from Lionstone Investments. Lionstone Investments, who developed the building in partnership with Kane Realty Corp., were the sellers.

CommercialEdge reports Highwoods plans to use proceeds from the recent $145 million sale of three office buildings in Tampa, Fla., to fund the acquisition of Advance Auto Parts Tower.

The 346,000-square-foot tower came online in 2020. It features 11 floors of office space atop eight levels of parking and roughly 8,200 square feet of retail. The property was fully leased at the end of 2024, with a weighted average lease term of 8.2 years.

With a street address of 4200 Six Forks Road or 4000 Front at North Hills Street, the building is immediately adjacent to CAPTRUST Tower, a 300,000-square-foot Class A+ office property that is also owned by Highwoods.

At the end of 2024, the REIT’s portfolio encompassed 27.2 million square feet across several U.S. markets, while its development pipeline totaled 1.6 million square feet.

Halstatt Real Estate Partners, along with Development Ventures Group and Ustler Development (Partnership), has sold UnionWest at Creative Village, a mixed-use student housing tower in Orlando, Fla. Provident Resources Group purchased the asset, which was funded through the offering of tax-exempt and taxable bonds underwritten by BofA Securities.

The partnership built the 15-story building, which includes 644 student housing beds, more than 100,000 square feet of academic space, 11,000 square feet of street-level retail, and a 600-space parking garage. The tower opened in August 2019. The University of Central Florida and Valencia College are nearby.

The UnionWest at Creative Village sale marked the second successful exit involving bond financing for Development Ventures Group, known as the Deven Group.

Located at the corner of W. Livingston Street and N. Terry Avenue, the $105 million UnionWest is part of Creative Village, a $1.5 billion mixed-use master redevelopment project in Downtown Orlando.

Marx Realty announced telemedicine giant Teladoc Health has expanded and extended its lease at 10 Grand Central. The firm will more than double its footprint at the repositioned office tower, taking a total of 15,000 square feet in a 10-year deal as it relocates its corporate headquarters from Purchase, NY. Exiger, a cyber security and supply chain technology firm, will take 7,000 square feet in a new, seven-year lease at 10 Grand Central.

Teladoc was represented by Sean Lynch of JLL while Exiger was represented by Mitchell Konsker and Simon Landsmann of JLL. JLL’s Mitchell Konsker, Carlee Palmer, Simon Landmann, and Thomas Schwartz are leading a team handling leasing for Marx Realty.

“The Teladoc story is compelling in that the firm has chosen to abandon its suburban New York headquarters in favor of the spectacular office experience and one-seat commute we offer tenants at 10 Grand Central,” said Craig Deitelzweig, CEO of Marx Realty.