September 2, 2025

Glenstar and Singerman Announce Three Office Leases Totaling 70,000 SF at Terraces at Solana in Dallas’ Southlake/Westlake Submarket

WESTLAKE, Texas (Aug. 25, 2025) — Chicago-based Glenstar, a national commercial real estate developer, owner and property manager, and its joint-venture partner Singerman Real Estate, a private investment firm, today announced they have signed three new office leases totaling 70,000 square feet at Terraces at Solana, an eight-building, 1.1 million-square-foot office complex at 1500 Solana Blvd. in Westlake, Texas, a northern suburb of Dallas-Fort Worth.

With these leases – representing headquarters relocations for two high-profile local companies and one new-to-market global headquarters – Terraces at Solana is now nearly 80% leased, up from 50% just a few years ago.

“These tenants chose to relocate to Terraces because it checks every box – location, flexibility, amenities and a sense of community,” said Kristi Layton, Glenstar’s vice president and general manager of Terraces. “We’re seeing companies prioritize environments that support their people, and Terraces delivers on that with hospitality-driven management, move-in-ready spaces and a campus atmosphere that enhances both productivity and well-being.”

Much of this leasing momentum stems from ownership’s $25 million renovation of the complex in 2021, which transformed it into a creative, welcoming and highly amenitized corporate destination. The campus features nearly 50,000 square feet of amenities, including a full-service restaurant, an upscale lounge with bar service, multiple indoor and outdoor seating and collaboration areas with firepits and scenic water features, bocce ball courts, a technologically advanced tenant conference center, a large state-of-the-art fitness facility with luxury locker rooms and covered parking throughout the campus.

M1 Support Services

M1 Support Services, a national defense contractor providing a complete range of aviation solutions, will relocate its headquarters from Denton, Texas, to Terraces following the completion of tenant buildouts. M1 (short for “Mission First”) signed a lease for 26,000 square feet on the second floor of the 123,862-square-foot Building 5.

“After a lengthy and thoughtful process of selecting from several properties in the DFW metroplex, the Terraces provided the best overall value highlighted by first-class amenities that will benefit our employees,” said Michael Frazier, chief operating officer of M1.

An industry leader in aviation services since 2003, M1 has grown to more than 5,000 employees. M1 partners with the U.S. Government, allied, and partner nations to enhance mission readiness and increase effectiveness. Its clients include the U.S. Air Force, U.S. Army, U.S. Navy and the General Services Administration.

CENTURY 21 Mike Bowman, Inc.

CENTURY 21 Mike Bowman, Inc. will relocate to a newly renovated, 18,000-square-foot headquarters space at Terraces in September. The firm is moving from a 16,888-square-foot office in Grapevine, Texas, to the first floor of the 274,992-square-foot Building 8.

“Choosing to relocate to Terraces at Solana was a strategic decision driven by our commitment to enhancing work-life balance for our agents, staff and managers,” said Dave Bowman, president of CENTURY 21 Mike Bowman, Inc. “Westlake itself was a draw, but what truly set Terraces apart were its exceptional on-campus amenities.

“The state-of-the-art conference center enables us to host national CENTURY 21 events – something not feasible at our previous location,” Bowman continued. “The inviting cafeteria and lounge spaces encourage collaboration, while the fitness center’s top-tier equipment and classes promote team wellness. Outdoor amenities, from fire pits to tranquil water views, create a peaceful environment that supports productivity and balance.”

Bowman also praised the on-site Glenstar property management team and its organization of community-building events via its signature app – Glenstar Connect. “These gatherings foster community and allow us to build meaningful relationships and expand our professional network within the campus,” he said.

Founded by Mike Bowman in 1971, the full-service real estate firm now includes over 200 agents and 30-plus in-house staff. It ranks as the #1 CENTURY 21 office in Texas and has been named one of the top CENTURY 21 offices globally 18 times.

Pluralsight Inc.

Pluralsight Inc., a global technology workforce development company, has moved its corporate headquarters from Draper, Utah, to Terraces. The company signed a lease for 26,000 square feet and took occupancy on July 21, relocating to the fourth floor of the 120,543-square-foot Building 6.

Founded in 2004, Pluralsight offers more than 7,000 curated video courses, hands-on labs, skill benchmarking tools, and tailored learning paths across key tech disciplines including cloud, AI, cybersecurity and software development. The company serves over 23,000 businesses and has a global team spanning Ireland, Australia, India and the U.S.

About Glenstar:

Glenstar is a Chicago-based national commercial real estate firm specializing in industrial development, reimagined office and multifamily properties. Founded in 2004 by Michael Klein, along with Rand Diamond, Glenstar has successfully developed or redeveloped more than $2 billion in commercial space comprising 10 million square feet across the U.S. Its nimble, tenant-focused approach and vertically integrated structure allow Glenstar not only to pursue and execute opportunistic projects, but also to oversee and manage them seamlessly.

About Singerman Real Estate:

Singerman Real Estate, LLC (SRE) is a Chicago-based opportunistic real estate investment firm with over $5 billion of assets under management. SRE has deep experience executing complex transactions and unlocking embedded value through the ownership of properties, real estate loans and operating companies. SRE focuses on maximizing risk adjusted returns through investments in both debt and equity across all major asset classes including industrial, life science, multifamily, hospitality, office, and retail in addition to other niche real estate asset classes.

Back to recent news

July 24, 2025

Glenstar Announces 100,000 SF in New Office Leases at Presidents Plaza in Chicago’s O’Hare Submarket

CHICAGO (May 21, 2025) — Chicago-based Glenstar, a national commercial real estate developer, owner and property manager, announced it has executed three leases totaling 100,000 square feet at Presidents Plaza, a two-tower, 831,442-square-foot office complex at 8600-8700 W. Bryn Mawr Ave., near O’Hare International Airport. The lease agreements follow the October 2024 sale of the property to a joint venture of Glenstar and a private investor.

“With these leases, we’re already reaping the benefits of our recapitalization of President Plaza and our commitment to fund tenant improvements, build spec suites and upgrade amenities,” said Michael Klein, co-founder and managing principal of Glenstar, which also serves as the leasing agent and property manager of Presidents Plaza. “Our commitment of new capital also allows us to offer flexibility and lease terms that align with our tenants’ operational needs and individual growth trajectories.”

In April, Glenstar signed a 40,000-square-foot office lease at Presidents Plaza with FM, a global commercial property insurance and loss prevention company that will relocate its regional office to Presidents Plaza from Park Ridge, Ill. Formerly known as FM Global, FM has a network of offices in the U.S. and internationally. Its clients operate across a variety of industries and include one in four Fortune 500 companies.

“We are thrilled to have FM as a tenant at Presidents Plaza,” said Klein. “Its choice to relocate to Presidents Plaza is a testament to the complex’s high-quality office experience, from lifestyle-oriented amenities to a responsive property management team.”

Glenstar also executed a 40,000-square-foot lease with Do It Best, the Fort Wayne, Ind.-based home improvement retailer that acquired True Value last year.

In the third transaction, current tenant Meitheal Pharmaceuticals, a biopharmaceutical company named the second-fastest growing company on the 2024 Crain’s Chicago Business “Fast 50” list, signed a 20,000-square-foot expansion lease that doubles its footprint to 40,000 square feet.

“Having our offices at Presidents Plaza has been a great fit for our growing team,” said John Spilman, vice president of corporate strategy of Meitheal Pharmaceuticals. “The central location offers easy access from across the Chicagoland area — including both the city and suburbs — and the availability of public transportation from downtown makes commuting simple and efficient. The amenities, including the modern lobby, welcoming lounge, fitness center and onsite dining options, enhance the daily experience for our employees. As we’ve grown, Presidents Plaza has continued to be a true partner, working with us to ensure our office space evolves to meet our needs today and in the future.”

The new ownership at Presidents Plaza is investing $16 million in improvements across the two buildings. Among its many enhancements, a golf simulator is slated to open this summer. Spec suites are also being constructed, featuring in-demand features such as open ceilings, collaborative workspaces and conference rooms with state-of-the-art A/V equipment. These improvements add to the property’s $34 million in renovations completed in 2022 that included the redevelopment of a three-story atrium lobby, three-level health club, fully renovated lounge, café with seating and conference center facility.

Presidents Plaza is centrally located at the four-way intersection of Cumberland Avenue and Interstate 90 and offers direct access to the adjacent CTA Cumberland Blue Line station, allowing tenants to recruit from both the suburbs and city. The property is also surrounded by numerous retail, restaurant, entertainment and hospitality offerings.

About Glenstar:

Back to recent news

January 8, 2025

Glenstar Logistics Completes Construction of First Building at CCC-85, 290-Acre Industrial Park in Gaffney, South Carolina

GAFFNEY, S.C. (JAN 8, 2025) — Developer Glenstar Logistics today announced it has completed construction of CCC-85 Building 2, the first of five buildings at its new 290-acre Cherokee Commerce Center 85 (CCC-85) development in Gaffney, S.C., adjacent to Interstate 85 in upstate South Carolina’s Cherokee County industrial corridor.

“We’ve seen a significant uptick in distribution and manufacturing users interested in leasing space in the new building, especially with its heavy power profile and water and sewer capacity,” said Brian Netzky, managing principal of Glenstar Logistics. “At the end of 2024, tenants started making lease commitments at a faster pace than earlier in the year, and we think that momentum will continue this quarter. Top on their wish list is modern space with substantial power, and abundant truck parking and outdoor storage to meet today’s logistical and operational requirements.”

At the end of the third quarter, vacancy in Cherokee County had decreased to 6.1%, according to Colliers. The brokerage’s Q3 industrial report also noted that in-market tenants are beginning to trade older Class B and C buildings for Class A spaces.

Built on a speculative basis, the cross-docked 550,520-square-foot building can be expanded to 1.3 million square feet. Potential uses include warehousing and distribution, advanced manufacturing, food processing, assembly/light manufacturing and refrigeration/cold storage. The building features 40-foot clear heights, 56-feet-by-50-feet column spacing, 60-foot speed bays, up to 232 dock doors, four drive-in doors and abundant flexible parking while accommodating up to 200MW of power within three years. Upon full buildout, the park will total up to 3.6 million square feet. Tenants of CCC-85 will also have access to Cherokee County’s skilled workforce along with Tier 4 economic development incentives.

Located at the four-way highly amenitized I-85/Highway 105 interchange, CCC-85 sits across I-85 from Boysen’s manufacturing plant, which supplies BMW’s manufacturing facility 31 miles away in Spartanburg; a Freightliner Custom Chassis manufacturing plant; and a Nestlé USA frozen food factory. The park is 25 minutes from Inland Port Greer and 30 minutes from the Charlotte metro. From CCC-85, tenants can reach more than 135 million consumers within a day’s drive.

Glenstar Logistics’ partners at CCC-85 include capital partner Creek Lane Capital, general contractor The Conlan Company, architect Ware Malcomb and civil engineer SeamonWhiteside, with CrossHarbor Capital Partners supplying $38.2 million in construction financing. John Montgomery, Garrett Scott, Brockton Hall and Dillon Swayngim of the Spartanburg office of Colliers are marketing the building on behalf of ownership.

About Glenstar Logistics:

Glenstar Logistics, the industrial arm of Glenstar, develops and invests in state-of-the-art warehouse, distribution and manufacturing facilities primarily in the southeast region of the United States. Headquartered in Chicago, Glenstar Logistics leverages decades-long relationships with local brokers, logisticians and end users to provide a unique insight on key factors tenants evaluate when making site selections. With 400+ acres currently under control, the team combines decades of real estate experience and proprietary third-party data analytics to direct every aspect of the development process with the end user in mind.

Back to recent news

November 5, 2024

Glenstar Recapitalizes Presidents Plaza, a Trophy Office Complex Near O’Hare International Airport, with High-Net-Worth Private Investor

CHICAGO (Oct. 29, 2024) — Chicago-based Glenstar, a national commercial real estate developer, owner and operator, and a private investor have recapitalized Presidents Plaza, a two-tower, highly amenitized office complex near O’Hare International Airport in an all-cash sales transaction that closed on Oct. 22.

In addition to purchasing the 831,442-square-foot complex for $62 million, Glenstar and its equity partner have set aside capital to fund tenant improvements, in addition to allocating nearly $16M to build spec suites along with upgrading amenities and common areas at the office property located at 8600-8700 W. Bryn Mawr Ave., in the O’Hare submarket.

“Unlike many office owners in today’s market, we are eager to help fund modern tenant improvement buildouts and amenity upgrades because we know they are critical for companies to attract top-level talent,” said Michael Klein, co-founder & managing principal of Glenstar. “With no debt on the property there are no lender constraints, and we will be creative with lease negotiations to solve tenant needs.”

The availability of capital allows tenant improvement projects to move forward quickly, as they will be insulated from interest-rate pressures and cash constraints. Spec suites will include the latest in-demand features such as open ceilings, collaborative working spaces and conference rooms with state-of-the-art audiovisual equipment.

“Companies want to be in top-tier buildings with modern, collaborative spaces,” Klein said. “Our recapitalization and upcoming capital improvements will ensure Presidents Plaza holds its title as the most highly amentized office asset in suburban Chicago.”

Initial plans call for a golf simulator and common area improvements to round out the abundant number of amenities added during the $34 million renovation of the property. The property upgrades included a redevelopment of the three-story atrium lobby, three-level health club, fully renovated lounge, café with full seating and 6,300-square-foot conference center facility. The property won the International TOBY for Renovated Building in 2022.

The Glenstar property management team will continue serving tenants on-site and via Glenstar Connect, an app-based platform to improve the tenant experience by connecting tenants with community-building events.

Presidents Plaza is centrally located at the four-way intersection of Cumberland Avenue and I-90 and offers direct access to public transportation on the CTA Blue Line, allowing tenants to recruit from both the suburbs and the city. The property is also surrounded by dining, entertainment and retail venues.

Dan Deuter, Tom Sitz and Cody Hundertmark of Cushman & Wakefield represented the seller in the Oct. 22 sales transaction. Glenstar has served as the property and asset manager of the complex since 2006.

About Glenstar:

Back to recent news

Glenstar Logistics Sells Fort Myers, Fla., Industrial Park

CHICAGO / FORT MYERS, Fla. (October 22, 2024) — A venture of Glenstar Logistics and Columnar Investments today announced it has sold Tri-County 75, a 72-acre, four-building industrial park in Fort Myers, Fla., to an undisclosed buyer. Completed in October 2023, the 818,000-square-foot industrial campus at 6115-6150 Tri-County Commerce Way is 95% leased. CBRE arranged the sale, which closed on Oct. 21.

“We identified the strong demand for industrial in Southwest Florida, secured an ideal land site and developed speculative warehouses with an ‘end-user first’ approach,” said Brian Netzky, principal of Chicago-based Glenstar Logistics. “As a result, we quickly leased the buildings to Fortune 500 and fast-growing local firms seeking easy access to Interstate 75 and Southwest Florida International Airport. With this sale, we achieved our development goal for Tri-County 75 and delivered excellent returns for our investors.”

The park’s rear load and cross-dock facilities range in size from 76,210 to 404,050 square feet and feature best-in-class specifications with concrete tilt-up construction, 32- to 36-foot clear heights, 142 trailer parking spots, large truck courts, abundant trailer stalls and easy highway access.

The firm tapped Netzky’s 30 years of expertise as a tenant broker to develop the industrial facilities from the tenant point of view. “We laid out the park in an ideal configuration for e-commerce, logistics, distribution and light to heavy industrial production,” Netzky said. “We also incorporated abundant outdoor space for storage and maneuverability, knowing these features are in high demand.”

When Glenstar broke ground on the park, Southwest Florida’s industrial vacancy rate stood at 1% and has since risen to 6.4%, mainly due to the increase in deliveries from 650,000 square feet in the first half of 2022 to 1.2 million square feet in 2024, according to Colliers.

Tenants at Tri-County 75 include Ferguson Enterprises, a national distributor of plumbing and HVAC supplies; a Fortune 500 beverage company; Orlando, Fla.-based Mechanical One, a home repair and maintenance company; NB Handy, a Virginia-based distributor of metals, HVAC, commercial roofing and machinery products; Coldest, a Florida-based manufacturer of water bottles and other related products; and a Fortune 500 company that is a provider of large third-party logistics.

“Tri-County 75 is an outstanding example of our investment strategy of taking well-located, unentitled land in a growth market from a greenfield site to delivery of a best-in-class product. We are thrilled to have worked with a first-class development partner in Glenstar Logistics”, said Matthew Omundson, Managing Director of Columnar.

Strategically located for last-mile distribution at the southeast corner of Interstate 75 and Luckett Road, Tri-County 75 is within a two-hour drive of 4.4 million people. The industrial park is a 12-minute drive from the Southwest Florida International Airport, 33 miles north of Naples, Fla., and 73 miles south of Sarasota, Fla.

Southwest Florida has a population of 1.5 million, which has increased 9.5% since 2020 and is expected to increase another 7.4% by 2029, according to the Lee County Economic Development Office. This growth puts further strain on the industrial market as demand has increased for same/next-day delivery.

“Not only is Southwest Florida one of the most rapidly urbanizing metropolitan areas in the state of Florida, but it is also the most underserved logistics market, with only 40 square feet of industrial space per capita,” said Jose Lobón, vice chairman with CBRE National Partners.

Lobón, along with vice chairmen Frank Fallon and Trey Barry and Vice President Royce Rose, represented the seller in the transaction. The team was assisted by Kris Courier, senior vice president, and Rian Smith, first vice president, with CBRE Industrial Leasing, and Gabriel Braun and Daniel Sarmiento, financial analysts with CBRE National Partners.

Ware Malcomb served as project architect for Tri-County 75, while DeLisi Fitzgerald was the civil engineer. The Naples-Fort Myers office of Lee & Associates oversaw leasing.

With a bullish outlook for industrial in the U.S. Southeast, Glenstar Logistics is nearing completion of the first of five buildings at its new 290-acre Cherokee Commerce Center 85 (CCC-85) development in Gaffney, S.C., adjacent to Interstate 85 in upstate South Carolina’s Cherokee County industrial corridor. The cross-docked 550,520-square-foot warehouse is being built on a speculative basis, with the flexibility to expand to 1.3 million square feet. Potential uses include warehousing and distribution, food processing, assembly/light manufacturing and refrigeration/cold storage. The building will feature 40-foot clear heights, 56-feet-by-50-feet column spacing, 60-foot speed bays, up to 232 dock doors, four drive-in doors and abundant flexible parking while accommodating up to 100MW of power within 3 years. Upon full buildout, the park will total up to 3.6 million square feet.

About Glenstar Logistics:

About Columnar Investments

Columnar is a vertically integrated real estate investment and development company which sets itself apart from its competitors by having the capabilities in house to take a piece of land from greenfield through vertical construction. A close-knit team of managers and engineers have decades of experience in all facets of the complex development process including land entitlements, zoning, infrastructure improvements, master-planning, lot development, ground-up construction and development. Currently, Columnar is busy developing over 4,000 acres of land including 3,500 single-family lots, 3,000 multifamily units, 5 million square feet of industrial distribution, and over 2 million square feet of retail and medical uses, across 5 states in the Sunbelt. Additionally, Rockwell Homes, an affiliate, is building single-family home across Florida and Texas. Columnar has family roots in Traylor Construction Group, a third-generation, family owned heavy civil, marine, and industrial contractor founded in 1946.

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2023 revenue). The company has more than 130,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

Back to recent news

August 5, 2024

Glenstar Logistics Goes Vertical on First Building at CCC-85, a 290-Acre Industrial Park in Gaffney, S.C.

GAFFNEY, S.C. (August 6, 2024) – Developer Glenstar Logistics today announced it has gone vertical on CCC-85 Building 2, a cross-docked 550,520-square-foot building at its new Cherokee Commerce Center 85 (CCC-85) immediately adjacent to Interstate 85 in Upstate South Carolina’s Cherokee County industrial corridor. After starting work last October, concrete panels are now being tilted up into place for the building’s exterior walls.

Slated for completion in Q4 2024, CCC-85 Building 2 is being built on a speculative basis with the flexibility to expand to 1.3 million square feet. The building will feature 40-foot clear heights, 56-feet-by-50-feet column spacing, 60-foot speed bays, up to 232 dock doors, four drive-in doors, up to 604 auto parking and 388 trailer spaces. Potential uses include warehousing and distribution, food processing, assembly/light manufacturing and refrigeration/cold storage.

“With supply chains stabilized, tenants have more time to carefully select the best sites and the most functional space for their business needs,” said Brian Netzky, managing principal of Glenstar Logistics. “CCC-85 will check all the right boxes for many firms with its location along I-85; access to Cherokee County’s skilled workforce along with tier 4 employee incentives; and proximity to electric vehicle, battery and semiconductor factories and dense populations of e-commerce consumers.”

Located at the four-way highly-amenitized I-85/Highway 105 interchange in Gaffney, S.C., CCC-85 sits directly across I-85 from Boysen’s manufacturing plant, which supplies BMW’s manufacturing facility 31 miles away in Spartanburg; a Freightliner Custom Chassis manufacturing plant; and a Nestlé USA frozen food factory. The park is 25 minutes from Inland Port Greer and 30 minutes from Charlotte MSA. From CCC-85, tenants can reach 135+ million consumers within a one-day drive.

“The functional design of the facilities and the layout of the park optimize flexibility, whether a tenant needs a massive amount of parking or lots of outdoor storage,” Netzky said. “The park’s abundant power, water and sewer capabilities also meet the needs of today’s high-tech industrial sector.”

CCC-85 will offer a superior utility profile including a power capacity of up to 54 megawatts. Distributors at the park will benefit from the recently widened I-85 from four to six lanes and a signalized primary entrance for ease of access/exit. Upon full buildout, the 290-acre park will include five buildings totaling up to 3.6 million square feet.

South Carolina’s population expanded by 1.7% to 5.4 million residents in 2023, making it the fastest-growing state last year, according to the U.S. Census Bureau.

“Cherokee County is pro-business, with government officials eager to help companies maximize their ROI through incentives,” Netzky said. “We’re bullish on the I-85 corridor and its future growth.”

About Glenstar Logistics:

Back to recent news