5250 Lankershim, acquired 60% leased by DivcoWest in 2021 and renovated in a weak market, now stands 92% occupied with a strong, synergistic tenant base

LOS ANGELES, CA – May 7, 2024 – 5250 Lankershim, a 9-story, LEED Gold office building in the heart of the North Hollywood Arts District, is an example of how committed owners working with innovative landlord advisory teams can buck the trend of recent years and build leasing momentum.

DivcoWest, a DivCore Capital company, acquired the building in 2021 with 50,000 s.f. of vacancy in the 180,000 s.f. building. Partnering with Colliers, DivcoWest immediately began renovating the building’s common areas, inside and out, to create a hospitality-driven workplace destination with a welcoming indoor and outdoor environment that today’s tenants and employees desire. Through a thoughtful design approach, the team infused natural sunlight and open air into the lobby and used inviting soft seating and gathering spaces to create a relaxed, comfortable environment.

The improvements have quickly paid off. Recently, Chase Bank brought total occupancy to 92% by signing a lease for 5,500 s.f. on the ground floor. Chase followed Zeus Networks, an over-the-top streaming video subscription service; SameSky Health, a cultural experience company aiding health plans to engage with their patient audiences; and the LA campuses of Syracuse University’s S.I. Newhouse School of Public Communications and College of Visual and Performing Arts, into the revamped 5250 Lankershim.

DivcoWest and the leasing team from Colliers also created a separate ground floor entrance to accommodate clients visiting Kaiser Permanente, effectively providing a building within a building.

“We felt it important to be proactive in positioning 5250 Lankershim as a building where tenants and their employees would feel at home so creating a sense of place with a hospitality vibe was very important to us,” says Jared Crowley, DivcoWest. “This included the extensive improvements, the personal approach we took to prospective tenants and the service tenants receive from our property management team,” he added.

According to Anneke Greco of Colliers, “We were in lock-step with DivcoWest on making tours of the available spaces as experiential and personalized as possible and we received fantastic responses from prospective tenants.”

The personal touch carries on through building management. “Property manager James McIntyre is an integral part of what makes 5250 Lankershim stand out from other North Hollywood buildings,” says Crowley. “He is very responsive and tenant-focused, and he’s backed up by a tenant concierge to assist tenants whenever and wherever they need it. 5250 Lankershim really has the feel of a workplace hotel rather than an office building,” he added.

About DivcoWest
Founded in 1993 by Stuart Shiff, DivcoWest, a DivCore Capital company, is a vertically integrated real estate investment firm headquartered in San Francisco, with offices in Austin, Cambridge, Los Angeles, Menlo Park, Washington DC, and New York City. Known for long-standing relationships and experience across the risk-spectrum in innovation markets, DivcoWest combines entrepreneurial spirit with an institutional approach to commercial real estate. DivcoWest aims to create environments that inspire ingenuity, promote growth, and enhance health and well-being. Since inception, DivcoWest and its predecessor have acquired approximately 61 million square feet of commercial space – primarily throughout the United States. DivcoWest’s real estate portfolio currently includes existing and development properties in the office, R&D, lab, industrial, retail, and multifamily spaces. www.divcowest.com

Scheduled to open in 2025, the 48-story office building is nearly 50% leased.

AUSTIN, TEXAS (April 29, 2024) – Co-developers Lincoln Property Company (LPC), Phoenix Property Company and DivcoWest are pleased to announce that the international law firm O’Melveny & Myers LLP has signed a lease at The Republic, a 48-story office tower under construction in downtown Austin. The state-of-the-art tower broke ground in 2022 and is now nearly 50% leased, more than a year before it is scheduled to open in mid-2025.

O’Melveny is a premier global law firm with more than 800 lawyers in 18 offices across three continents. The Los Angeles-founded firm opened its first Texas office in Austin in 2021 and has continued to expand in Austin, Dallas, and Houston.

“O’Melveny is continuing to expand our presence in the Texas market, and we’re delighted by the welcome we’ve received in the Lone Star State,” said Teresa Doremus, O’Melveny’s Managing Director of Global Operations and Real Estate. “Our new, modern, 28,000-square-foot space in The Republic will both accommodate our current Austin team and provide us with needed space for our anticipated growth.”

O’Melveny is the second global law firm to sign a lease in The Republic.

Kirkland & Ellis LLP has committed to occupy 137,000 square feet. Additionally, Austin-based Vista Equity Partners has leased 200,000 square feet.

“National and global professional services firms continue to expand in Austin, and The Republic provides the marquee location and best-in-class amenities these companies seek to help attract and retain top talent,” said LPC Executive Vice President Seth Johnston.

Designed by Duda Paine Architects, The Republic will offer sweeping views of Lady Bird Lake and a direct connection to Republic Square Park – the building’s historic namesake. In addition to being the only building that opens to a full block of park space in the Central Business District, every office floor of The Republic will feature a 750 square foot private terrace, further connecting tenants to Austin’s distinctive outdoor lifestyle.

“We’re delighted with leasing momentum achieved at this point in the construction timeline at The Republic,” said DivcoWest Managing Director, Costa Petrunoff. “The ‘flight to trophy’ trend is evident as tenants seek out the quality and prestige of this state-of-the-art tower. The building’s design, including the Michael Hsu Office of Architecture-designed amenities, has attracted tenants who are drawn to the seamless connection between interior and exterior spaces.”

Ground-level elements in the building will include a 20,000 square foot public plaza with an outdoor bar and 16,585 square feet of ground floor retail space. Drawing in the outdoors throughout the building, the 19th-floor amenity level boasts more than 50,000 square feet of indoor-outdoor space, including conference rooms, fitness center and spin room, club room with a lounge and bar, and a 25,000 square foot outdoor terrace covered by architectural shade canopies.

The designers emphasized the health and wellness of the office tenants and guests by incorporating touchless access technology, enhanced air-filtration systems, and the pursuit of WELLv2 Core Certification, WELL Health-Safety Rating, LEED Gold Certification, and Austin Energy Green Building Program. Additionally, those who commute by bike will have access to a private elevator, which will take them directly to secure storage for nearly 350 bicycles, as well as a spa-quality locker room and showers.

ABOUT DIVCOWEST
Founded in 1993 by Stuart Shiff, DivcoWest, a DivCore Capital company, is a vertically integrated, real estate investment firm headquartered in San Francisco, with offices in Austin, Cambridge, Los Angeles, Menlo Park, Washington DC, and New York City. Known for long-standing relationships and experience across the risk-spectrum in innovation markets, DivcoWest combines entrepreneurial spirit with an institutional approach to commercial real estate. DivcoWest aims to create environments that inspire ingenuity, promote growth, and enhance health and well-being. Since inception, DivcoWest and its predecessor have acquired approximately 61 million square feet of commercial space – primarily throughout the United States. DivcoWest’s real estate portfolio currently includes existing and development properties in the office, R&D, lab, industrial, retail, and multifamily spaces. www.divcowest.com

ABOUT LINCOLN PROPERTY COMPANY
Lincoln Property Company (“Lincoln”) is one of the largest private real estate firms in the United States. Offering a fully integrated platform of real estate services and innovative solutions to owners, investors, lenders and occupiers, Lincoln supports the entire real estate lifecycle across asset types, including office, life science, retail, industrial, data center, production studio, healthcare, government, universities, and mixed-used properties, throughout the United States, United Kingdom, and Europe. Lincoln’s combined management and leasing portfolio on behalf of institutional clients includes more than 510 million square feet of commercial space. In addition to providing third-party real estate services, Lincoln has completed over 150 million square feet of development since its inception in 1965 and has another $20 billion currently under construction or in the pipeline. For more information, visit: www.lpc.com.

ABOUT O’MELVENY
It’s more than what you do: it’s how you do it. Across sectors and borders, in board rooms and courtrooms, we measure our success by yours. And in our interactions, we commit to making your O’Melveny experience as satisfying as the outcomes we help you achieve. Our greatest accomplishment is ensuring that you never have to choose between premier lawyering and exceptional service. So, tell us. What do you want to achieve? Visit us at www.omm.com; read our Insights 2024 report; learn more in our firm at-a-glance; and find us on LinkedIn, X, Facebook, Instagram, and YouTube.

ABOUT PHOENIX PROPERTY COMPANY
Phoenix Property Company (PPC), formed in 1994, is a nationally recognized, diversified real estate company with developments and investments in major cities across the United States. Blake Pogue and Jason Runnels are the original principals. Noted for its extensive track record in developing award-winning multifamily and mixed-use communities on in-fill and urban sites, Phoenix has gained a reputation for recognizing emerging neighborhoods and creating iconic properties that encourage additional growth and revitalization. Phoenix also works with universities in evaluating their current and future real estate needs, and develops and owns college student housing communities in multiple cities. Since its inception, PPC and the affiliated GrandMarc have developed residential and mixed-use communities with a construction cost of over $1 billion. For more information please visit www.phoenixpropertyco.com.

Chad Jones Steps into New Role as Head of Investments, Eastern Region for DivCore Capital.

New York, NY (April 8, 2024) — LoanCore Capital, a commercial real estate lending firm located in Greenwich, CT, and DivcoWest, a vertically integrated real estate investment firm headquartered in San Francisco, CA, are pleased to announce the promotion of Chad Jones to Head of Eastern Region Investments for their unified investment platform, DivCore Capital. Chad, who will be based in DivCore’s New York City office, previously served as Head of East Coast Originations for LoanCore. In his new position, he will play a pivotal role in solidifying New York as one of DivCore’s East Coast hubs further unifying its Real Estate Debt and Equity subsidiaries (LoanCore Capital and DivcoWest, respectively).

“We are thrilled to announce Chad’s promotion to Head of Investments for the Eastern Region. With his vast experience in commercial real estate lending and investments across various property types and markets, as well as his expertise in complex deal structuring, we are confident that he will be instrumental in driving DivCore’s continued success not only in the Eastern Region but also nationally.” said Mark Finerman, CEO of LoanCore and Co-CEO of DivCore Capital. “We look forward to leveraging Chad’s strong leadership skills to drive continued growth for DivCore and to maximize value for our investors.”

About DivCore
Formed in 2012 DivCore Capital, is the unification of DivcoWest, an equity focused investment firm which began operations in 1993 led by Stuart Shiff and LoanCore Capital which focuses on credit investments and was founded in 2008 led by Mark Finerman with a combined AUM of $32.5 billion. Through the unification of these two commercial real estate investment firms, DivCore’s vertically integrated team of over 225 professionals brings over 30 years of real estate investment and capital markets expertise across market conditions and credit cycles and the experience and skills to invest across all asset types and up and down the capital structure. DivCore’s success is driven by longstanding relationships with clients, deep market and industry knowledge, long term presence in key innovation markets, and the ability to provide creative debt and equity real estate solutions in an ever-evolving market.
www.divcore.com

About LoanCore
Founded in 2008 by Mark Finerman, LoanCore Capital, a DivCore Capital company, is a real estate lender and investor with a credit-focused asset management platform and is headquartered in Greenwich, CT, with offices in Palm Beach, Chicago, San Francisco, and Los Angeles. LoanCore is a trusted multidisciplinary holder of subordinate risk through fixed and floating originations, generally levered with fixed rate CMBS, floating rate CLOs and warehouse lines underwritten to be held to term. Since inception, LoanCore has funded in excess of $31 billion across more than 950 transactions.
www.loancore.com

About DivcoWest
Founded in 1993 by Stuart Shiff, DivcoWest, a DivCore Capital company, is a vertically integrated real estate investment firm headquartered in San Francisco, with offices in Austin, Cambridge, Los Angeles, Menlo Park, Washington DC, and New York City. Known for long-standing relationships and experience across the risk-spectrum in innovation markets, DivcoWest combines entrepreneurial spirit with an institutional approach to commercial real estate. DivcoWest aims to create environments that inspire ingenuity, promote growth, and enhance health and well-being. Since inception, DivcoWest and its predecessor have acquired approximately 61 million square feet of commercial space – primarily throughout the United States. DivcoWest’s real estate portfolio currently includes existing and development properties in the office, R&D, lab, industrial, retail, and multifamily spaces. www.divcowest.com

301 Howard to Represent San Francisco in 250,000-499,999 SF Office Category in Pacific Southwest Regional at the BOMA International TOBY Awards

San Francisco – February 28, 2024 – 301 Howard Street, a 319,000 square foot, 23-story Class A office tower in San Francisco’s South Financial District has been awarded the 2024 The Outstanding Building of the Year (TOBY®) by the San Francisco chapter of the Building and Office Managers Association (BOMA-SF).

The Outstanding Building of the Year (TOBY®) Award is the commercial real estate industry’s highest recognition honoring excellence in commercial building management and operations in specific categories of building type or size.

“We believe in investing in the power of place and creating exceptional environments for today’s most forward-thinking companies. So, it feels great to start 2024 on a high note with this prestigious TOBY® award,” said Gregg Walker, President of DivcoWest Real Estate Asset Management. “DivcoWest is proud of the dedication and effort made by the entire team at 301 Howard in delivering an exceptional workplace and experience to our tenants every day. We are thankful to BOMA for recognizing our team’s commitment to delivering superior service.”

301 Howard, which was built in 1987 and recently renovated, won the TOBY® in the 250,000-499,000 s.f. office category. DivcoWest owns, operates and has its corporate headquarters in the building which sits across from the Salesforce Transit Center, a regional transit hub for Muni, Golden Gate and AC Transit, Greyhound, Amtrak and Caltrain. It is also benefits from close proximity to Bay Bridge access and local ferries.

Among the building’s significant amenities are a fully-equipped fitness center with showers and lockers, a communal rooftop terrace with spectacular views of the Bay and an award-winning, fully-renovated lobby designed by Huntsman Architectural Group all managed by a hospitality driven team. The building hosts Joe & The Juice, a globally recognized health and wellness fast food café, and has an amenity lounge and bicycle storage for tenants.

For an opportunity to win a BOMA International TOBY Award, a property first must earn a BOMA 360 designation, a worldwide standard for building operations and management, and win both local and regional competitions.

Judging is based on criteria that includes community impact, tenant and employee relations programs, energy management and green policies, accessibility, emergency evacuation procedures, building personnel training programs and overall excellence. Building inspections are conducted by a team of industry experts.

About DivcoWest
Founded in 1993 by Stuart Shiff, DivcoWest, a DivCore Capital company, is a vertically integrated real estate investment firm headquartered in San Francisco, with offices in Austin, Cambridge, Los Angeles, Menlo Park, Washington DC, and New York City. Known for long-standing relationships and experience across the risk-spectrum in innovation markets, DivcoWest combines entrepreneurial spirit with an institutional approach to commercial real estate. DivcoWest aims to create environments that inspire ingenuity, promote growth, and enhance health and well-being. Since inception, DivcoWest and its predecessor have acquired approximately 61 million square feet of commercial space – primarily throughout the United States. DivcoWest’s real estate portfolio currently includes existing and development properties in the office, R&D, lab, industrial, retail, and multifamily spaces. www.divcowest.com

Original Town Hall Chefs/Owners Mitchell and Steven Rosenthal, along with Co-owner Bjorn Kock, announced they will be departing from the acclaimed restaurant in October, just shy of its 20-year anniversary, passing the torch to Chef Tyler Florence to carry on its legacy. What began in 2003 as a shot for the Rosenthal’s to create a New Orleans-inspired, casual take on the pedigreed cuisine they developed at Postrio with Wolfgang Puck, the downtown institution’s New American fare and buzzy atmosphere quickly became a San Francisco darling beloved by luminaries from Mayor Willie Brown to Dave Chapelle. From pioneering one of the earliest Bay Area communal tables to its famous chocolate butterscotch pudding and storied Fat Tuesday parties, Town Hall set new standards as a vibrant gathering place for San Francisco residents and visitors from near and far.
“Town Hall has always been a joy for us, a place everyone could call home. While we’re sorry to see this chapter close, we leave with great pride in what we have accomplished. With its subtle New Orleans charm, awesome food, and warm and wonderful staff, Town Hall has been cherished as a San Francisco star and we will treasure the many wonderful memories we have for years to come,” M. Rosenthal states. Mitchell, Steven, and Bjorn are especially grateful for the hard work and devotion that their incredible staff put in over the years and would also like to thank the patrons and regulars for their continued support.
Town Hall’s next chapter will kick off in early 2024 when chef Tyler Florence teams up with San Francisco-based real estate investment firm DivcoWest. DivcoWest and its partners own the restaurant as well as the adjacent 199 Fremont, a Class A office building that features a newly renovated lobby and tenant lounge that can host private events. Tyler will take over all restaurant operations and reintroduce a new concept under the existing and beloved Town Hall name. Florence’s approach to the evolution of Town Hall includes a refreshed menu, extended hours, and valet parking.
“Town Hall has made a significant culinary contribution to the City of San Francisco and our team is looking forward to carrying on the tradition of this cherished institution. We are excited to pair a fresh, new experience with our elevated hospitality to create a new restaurant offering that will blow you away,” said Chef Tyler Florence.
“Town Hall is an institution that has created great memories over the years for which we are deeply thankful,” said Eric Lupinski, Managing Director, DivcoWest. “We are honored that Tyler Florence has chosen the evolving East Cut neighborhood for his next endeavor. He is a celebrated voice in the hospitality industry, and we look forward to introducing his new concept to the community.”

Town Hall is located at 342 Howard Street in San Francisco. For more information, please call (415) 908-3900.

The Former Bank Branch Expanded into Three High-End Storefronts, now 100% Leased.

New York, NY (October 01, 2023) — Newmark Retail, in collaboration with DivcoWest, announces that the remarkable transformation of 540 Madison’s retail space is now 100% leased. What was once an oversized bank branch spanning 9,266 square feet was ingeniously reimagined into three distinctive storefronts to accommodate a mix of high-end retailers. The latest tenants to sign at the asset are H.Stern and Bang & Olufsen will join luxury watch retailer Grand Seiko, bringing the retail portion of 540 Madison to 100% leased. Newmark Vice Chairman Ariel Schuster and Director Mitch Heifetz serve as the exclusive leasing agents for the retail component and represent ownership on both transactions.

“This transformation is a testament to the vision and collaborative efforts between Newmark and DivcoWest. We’ve turned an oversized bank branch into an exquisite retail destination, exceeding expectations and achieving an impressive lineup of high-end retailers,” said Schuster. “Our collaborative efforts have successfully come to fruition with the signing of HStern and Bang & Olufsen, bringing the retail portion asset of property to 100% leased.”

Details of the more recent transactions include:
• Bang & Olufsen is among the world’s top high-end consumer electronics companies that designs and manufactures audio products, television sets and telephones. The Danish-founded company signed a long-term lease to occupy a 1,557-square-foot retail outpost at 540 Madison, which features frontage on East 55th Street.
• H.Stern is the U.S. outpost of a posh, Brazil-based jewelry company selling high-end pieces, including a robust collection of watches. The tenant signed a long-term lease to occupy a 1,450-square-foot space at the Madison Avenue location.

“With 540 Madison’s premier location and the repositioning of the office tower completed, we believed securing the right luxury retailers at the ground level was critical to the building’s transformation,” said Ariel Aber, Managing Director and Head of New York Investments at DivcoWest. “We look forward to long-term partnerships with H.Stern, Bang & Olufsen and Grand Seiko and thank the Newmark team for their commitment and collaboration on the successful leasing program.”

540 Madison is a newly renovated 292,000-square-foot, Class A office tower with ground-level retail at the corner of Madison and 54th Street, one of the city’s most sought-after neighborhoods. The building is just two blocks from the E, F and M subway lines at the 5th Avenue – 53rd Street Station. Nearby attractions include The Saint Regis Hotel, Paley Park, The Paley Center for Media, The Museum of Modern Art, Saint Patrick’s Cathedral, Rockefeller Center and Radio City Music Hall.

About DivcoWest
Founded in 1993 by Stuart Shiff, DivcoWest, a DivCore Capital company, is a vertically integrated real estate investment firm headquartered in San Francisco, with offices in Austin, Cambridge, Los Angeles, Menlo Park, Washington DC, and New York City. Known for long-standing relationships and experience across the risk-spectrum in innovation markets, DivcoWest combines entrepreneurial spirit with an institutional approach to commercial real estate. DivcoWest aims to create environments that inspire ingenuity, promote growth, and enhance health and well-being. Since inception, DivcoWest and its predecessor have acquired approximately 59 million square feet of commercial space – primarily throughout the United States. DivcoWest’s real estate portfolio currently includes existing and development properties in the office, R&D, lab, industrial, retail, and multifamily spaces. www.divcowest.com

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the year ending December 31, 2022, Newmark generated revenues of approximately $2.7 billion. As of June 30, 2023, Newmark’s company-owned offices, together with its business partners, operate from approximately 170 offices with over 7,400 professionals around the world. To learn more, visit nmrk.com or follow @newmark.

Discussion of Forward-Looking Statements about Newmark
Statements in this document regarding Newmark that are not historical facts are “forward-looking statements” that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the effects of the COVID-19 pandemic on the Company’s business, results, financial position, liquidity and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark’s Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.

PUBLICATION: PULSE 2.0

SITE Technologies – a leading innovator in asset management and data analytics technology utilizing artificial intelligence and advanced imagery capturing technologies – recently announced that it is excited to announce the successful completion of its Series A funding round, securing $10 million in investment. The funding round was led by Prologis Ventures, the investment arm for Prologis, the global leader in logistics real estate, along with technology investors DivcoWest Ventures and Protagonist.

SITE Technologies was built to revolutionize the real estate industry through advanced data collection and AI analysis. And SITE’s proprietary intelligence platform uses the power of AI and drones, satellites, manned aircraft and other methods to gather precise and real-time property data, significantly improving the efficiency and accuracy of a facility’s condition analysis. This funding round will enable the company to accelerate enhancements of the AI intelligence platform and expand globally.

SITE Technologies has already established itself as a trusted partner for various industries, including commercial, industrial, and retail real estate, construction, and infrastructure management. And the company’s innovative approach enables clients to access critical data remotely, eliminating the need for expensive, time-consuming, and sometimes hazardous “boots on the ground’ inspections. Now Prologis is expanding using SITE in all of its locations across the Americas and expanding into Europe.

KEY QUOTES:

“Managing multiple properties can be complex, and our proprietary technology enables our clients to make decisions faster, increasing ROI while optimizing performance and productivity. The way property inspections are completed has been transformed, combining our state-of-the-art data capture technology with powerful data analytics, and AI, providing invaluable insights into property conditions, infrastructure, budgets, and operations.”

– Dan Duffy, CEO of SITE Technologies

“We are really excited about how Site Technologies’ platform can enhance long-term value and performance for real estate properties. It’s truly a game-changer in the industry. Its ability to leverage AI and other capture technologies to quickly and accurately analyze critical property characteristics allows property owners to identify potential issues as well as optimize bid management processes more efficiently.”

– Will O’Donnell, Managing Director, Prologis Ventures

Link to article here

The American-fare establishment is expected to open in 2024, becoming the sixth restaurant to join the CX neighborhood.

September 18, 2023 – DivcoWest, a DivCore Capital Company and the national real estate investment and development team behind the destination neighborhood and innovation hub, Cambridge Crossing (CX), and its project partner for Park 151, LCOR, announced a new relaxed dining concept will join CX in 2024, adding to the neighborhood’s vibrant culinary offerings. Tap 151 Bar and Grill will be at the ground level of Park 151, CX’s newest multifamily residential building, and adjacent to a new event lawn.

The restaurant will feature a menu of tried-and-true pub favorites, an extensive bar selection, and a lively neighborhood atmosphere. Encompassing approximately 6,000 sf, the space will offer both indoor and outdoor seating and the interior design will lean into the distinctive style of the CX neighborhood, with the space featuring 233 seats with a total capacity of 300. Tap 151 is positioned to be a high-spirited entertainment destination, providing televised sporting events and game nights, and a comfortable gathering place for people of all ages.

“We are thrilled to announce the addition of Tap 151 Bar and Grill to CX and look forward to expanding our selection of local eateries for our community to enjoy,” said Dennis O’Donnell, Senior Director at DivcoWest. “CX is comprised of spaces that are thoughtfully and purposefully built to foster and engage connections, and we look forward to Tap 151 opening in 2024 and becoming a local neighborhood favorite by those near and far.”

The future operators of Tap 151 are no strangers to the area and currently manage well-established full-service bar and grills in Cambridge, Somerville and Northboro, MA. The operators acquired two properties from Tavern in the Square in 2017 and 2021, located in Central Square, Cambridge, and Northboro, MA, respectively, and reimagined them as local, neighborhood taverns. Additionally, the partnership separately runs Oliveira’s Steakhouse, a popular Brazilian steakhouse in nearby Union Square, Somerville.

“We are thrilled to announce Tap 151 Bar and Grill at CX and look forward to expanding our footprint in the Cambridge community alongside the wonderful range of restaurants and café concepts within the neighborhood,” said Davidson Bettero, Owner at Tap 151 Bar and Grill. “We pride ourselves on building warm, inviting spaces for our guests to have enjoyable and memorable experiences while highlighting the best of our local flavors.”

Construction for Tap 151 is expected later this fall with opening projected in mid-2024. CX’s other established eateries are Café Beatrice, Geppetto, The Lexington, Lamplighter Brewing Co., Tatte Bakery and Café, and Bon Me which is also set to open in 2024.

GLENDALE, CA August 14, 2023 – DivcoWest, a DivCore Capital company, announced that Hearst Media Production Group (HMPG) has signed a 10-year plus lease at 655 North Central, a Class A building in Glendale.

The lease for 20,011 square feet allows HMPG to move from an older facility in Burbank and expand its West Coast operations. Occupancy is expected sometime in early 2024.

The company, which is a business unit of Hearst Television and produces and distributes original programming for TV, broadcast, cable, and streaming services, also has offices in New York, Washington DC, and Charlotte.

“We’re delighted to partner with Hearst Media and do our part to help its leadership realize the vision of expanding in a high-profile, state-of-the-art facility that provides its employees with a full range of amenities,” said Jared Crowley, Senior Director-Investments, DivcoWest.

655 N. Central is a 549,000 s.f. LEED Platinum Class A office tower which was renovated in 2018 and features a conference/event center and a fitness room with full equipment including Peloton bikes, showers, and lockers.

The building also has an adjacent eight-level parking garage with EV charging. 655 N. Central has maximum visibility at the intersection of Central Avenue and the Ventura (134) Freeway.

Astellas Pharma Inc. (TSE: 4503, President and CEO: Naoki Okamura, “Astellas”) and DivcoWest, a DivCore Capital Company, announced today plans for Astellas to open a new state-of-the-art life sciences facility at 441 Morgan Avenue, in the Cambridge Crossing (CX) neighborhood in Cambridge, Mass. This investment establishes a significant presence for Astellas in one of the world’s premier life science innovation hubs, showcasing the company’s commitment to expanding its R&D footprint in order to accelerate innovation and deliver VALUE to patients.

Designed by Ennead and Jacobs Consulting, 441 Morgan is the fifth lab-ready building at CX and is situated at a gateway to the neighborhood with views of the Charles River and beyond. With wellness, connectivity, and tenant experience at the forefront, when complete, 441 Morgan will offer five outdoor terraces, direct access to a five-acre park, integrated building technologies including smart technology View Glass, three underground levels of parking and a bike room.

Astellas expects to occupy two floors, or approximately 62,000 square feet, of the new facility in 2024. Astellas will house both laboratory and office areas. The laboratory area will be occupied by Discovery Accelerator, which will serve as an additional incubator space for external collaborators as well as Mitobridge. Over time, a few hundred Boston-based Astellas employees will operate out of the new building, representing functions including Medical & Development, Business Development and Research.

As part of Astellas’ and DivcoWest’s commitments to sustainability and reducing its environmental impact, the building is targeting LEED Gold. The building is also targeting WiredScore Platinum certifications and is ideally situated just steps to two MBTA lines, including the Community College orange line station and the Lechmere green line station.

Astellas was represented by Transwestern Real Estate Services Executive Vice Presidents Kyle Robbins and David Burkards and Executive Managing Director Andrew Davidson.

Tadaaki Taniguchi, M.D., Ph.D., Chief Medical Officer, Astellas

“This investment in Cambridge represents a significant milestone for Astellas, enabling us to continue growing our presence in the Greater Boston area and to create additional hubs for innovation and collaboration. We view this as a strategic approach to enhance our ways of working, foster new collaborations and open up new opportunities in the biopharma ecosystem. We look forward to leveraging the vibrant life sciences ecosystem in the area to drive scientific advancements that ultimately lead to better outcomes for patients.”

Mark Roopenian, Managing Director, DivcoWest

“We are thrilled to welcome Astellas to Cambridge Crossing. Through thoughtful and purposeful design, CX has become home to some of the world’s leading life science and biotech companies offering both the built environment forward-thinking companies need for today’s research and development, and the vibrant community employees desire. We look forward to Astellas being part of the neighborhood and a collaborative partner.”

Yoshitsugu Shitaka, Ph.D., Chief Scientific Officer, Astellas

“Our new Cambridge space will be intentionally designed to foster a culture of innovation and collaboration. By providing shared resources, flexible workspaces, and dedicated areas for cross-functional and partner collaboration, the new building will enable our teams to work together seamlessly and capitalize on the diverse expertise both within the company and outside our walls. Moreover, we are excited to create an incubator space through Discovery Accelerator that will provide new opportunities to both support and be a Partner of Choice to highly innovative external organizations.”