Wrap-Up of Largest Reported Workplace Leases Include Offers by Aetna, Sonus, Starr Cos., Briggs & & Veselka Co. and more
Dealertrack, an automobile option software service provider to the retail market, has signed a 17-year, full-building workplace lease for 233,000 square feet at 3400 New Hyde Park Rd. in New Hyde Park, NY.
The new four-story structure provided this month on 8.4 acres in the Western Nassau County submarket, simply off the Long Island Expressway. Tritec Realty Company acted as building supervisor for the job, while X-Cell Real estate Associates owns the property.
Dealertrack’s employee base continues to broaden, requiring the large lease, three years in the works, which will see the firm’s establishment of a brand-new headquarters and creation of hundreds of jobs in the state of New York. The affiliate of Cox Automotive develops software solutions for the vehicle retail market, supporting open choice with a concentrate on changing the way lorries are purchased and offered for consumers, car dealerships, manufacturers and lenders.
X-Cell Realty is a Nassau-based property company, and handled lease settlements internal. By Konrad Miles
Aetna Makes Good on Strategies to Pull HQ From Connecticut
Following through on its plans to pull out of Connecticut, Aetna, Inc. will < a href=" http://www.costar.com/News/Article/Aetna-Makes-Good-on-Plans-to-Pull-HQ-Out-of-Connecticut/192210" target=" _ blank” > move its corporate headquarters from its long time Hartford area to
Manhattan by late 2018. The insurance coverage company will transfer 250 head offices jobs to a brand-new building at 61 Ninth Ave. in Manhattan’s Meatpacking District. It agreed to inhabit 145,000 square feet in the 167,170-square-foot office building slated for 2018 shipment by Aurora Capital Partner and Vornado Realty Trust (NYSE: VNO). Regards to Aetna’s lease were not right away available.
Just a month earlier, Aetna confirmed that the managed-care provider was deep in speak with move business operations from Hartford, where its roots go back 200 years. Boston and New york city City were said to be the front-runners, and on Thursday the company announced the decision to relocate to the Huge Apple.
Empire State Development used Aetna $24 million in performance-based tax credits over Ten Years to motivate the moving. Aetna will include 250 senior positions and invest $84 million to fit out and equip its brand-new headquarters structure, according to New york city Gov. Andrew M. Cuomo. By Randyl Drummer
Sonus Networks Extends Complete Occupancy HQ Lease in Westford Innovation Park
Sonus Networks has extended its complete tenancy lease within the Westford Technology Park in Westford, MA where the business keeps its home office. The interactions equipment provider has totally occupied the two-story building, 97,500-square-foot building at 4 Technology Park Dr. since 2010. The company’s 10-year extension will commence on September 1, 2018 and is set up to go through August 2028.
4 Technology Park Dr. was built in 1987 and includes office and lab space. It is positioned just off -495 roughly 30 miles northwest of downtown Boston. Sonus’ lease consists of two five-year alternatives. By Tammy Mathieu
Starr Business Leases 97,000 SF in CitiBank Structure
Starr Companies signed a 97,303-square-foot lease in the CitiBank Structure at 399 Park Ave. in New york city City
. The global insurance and investments company will take occupancy of the second, 8th and ninth floorings under a 10-year lease that starts in September 2018.
Arkady Smolyansky, Evan Fiddle, Gregg Rothkin, Caroline Merck and Peter Turchin represented the proprietor, Boston Residence, Inc., in lease settlements with the tenant. By Daniel Griffin
Briggs & & Veselka Co. Renews Lease, Broadens HQ Footprint at Nine Greenway Plaza
Briggs & & Veselka Co. is stretching its legs in Houston after the independent accounting company accepted a long-term < a href= "http://www.costar.com/News/Article/Briggs-Veselka-Co-Renews-Lease-Expands-HQ-Footprint-at-Nine-Greenway-Plaza/192135" target= “_ blank” > renewal and expansion of its business office space at Nine Greenway Plaza
to 72,585 square & feet. Home to Briggs & Veselka given that 2011, the 31-story 9 Greenway Plaza is one of 10 structures that comprise Greenway Plaza, a 10-property, master-planned suburban development that extends across a 60-acre tract roughly 5 miles southwest of downtown Houston.
Jon Lee of CBRE represented Briggs and Veselka Co. in negotiations, while J.P. Hutcheson and Rachel Williams of Parkway Realty Solutions represented ownership. By James Saris
Bank of America Leases 65,000 SF in Downtown Nashville
Bank of America and subsidiaries Merrill Lynch and U.S. Trust will < a href =" http://www.costar.com/News/Article/Bank-of-America-Leases-65000-SF-in-Downtown-Nashville/192286" target=" _ blank" > occupy 65,173 square feet on the top 3 floors of the 222 office building located at 222 2nd Ave. S
in Nashville, TN. This lease increases the occupancy of the building to about 60 percent capacity with CBRE Group in negotiations to potentially move in also with their existing lease in downtown Nashville ending next year.
Trent Acuff with Hines represented the landlord in-house. By Ryan Sompayrac
Hodges-Mace Reaches Offer to Shift Head office to Lakeside Workplace Park in Atlanta
Hodges-Mace has signed a lease for almost 60,000 square feet within the Lakeside Office Park at 5775 Glenridge Dr. NE in Atlanta for the company’s new corporate headquarters.
The service provider of advantage management software and services expects to move its head workplaces in January to 59,439 square feet throughout three floors at Building E, a just recently renovated 106,314-square-foot, five-story structure finished in 1973 and anchored by Going to Nurse Health System.
Bo Keatley, David Rubenstein and John Flack of Savills Studley represented Hodges-Mace in settlements. Sabrina Gibson, Eric Ross and Clark Gore of CBRE brokered the lease on behalf of structure owner, Crocker Partners. By Emily Kukwa
Yardi Systems Transferring Dallas Office to Irving’s Freeport Business Center
Yardi Systems will move its Dallas office to the Freeport Company Center after the Santa Barbara, CA-based software application service provider for the real estate financial investment management and property management market signed a nine-year lease for 55,000 square feet on the 3rd floor at 8616 Freeport Pkwy.
Freeport Company Center I is a three-story, 160,314-square-foot workplace residential or commercial property completed in 1999 minutes northeast of DFW International Airport in the DFW Freeport/Coppell submarket. Yardi Systems will move from its current area at 14785 Preston Rd. in Dallas to its new workplaces in mid-September.
Mike Kay of CBRE represented Yardi Systems. John Fancher and Rodney Helm of Cushman & & Wakefield of Texas represented the landlord, UBS Realty. By Michael Nowakowski
Taxaudit.com Signs Offer to Anchor Folsom Workplace Bldg.
. Taxaudit.com, the public brand of Citrus Heights, CA-based TaxResources, has signed a lease to inhabit 54,732 square feet at 600 Coolidge Dr.
in Folsom, CA. The 81,208-square-foot, three-story 600 Coolidge Dr. building was built in 1999 as part of stage 2 of the Parkshore Plaza situated within 2 miles of US-50 and minutes southwest of the Folsom Central Shopping mall.
Jason Goff, Bryan Huarte, Clyde Rawlings and Micki Strain of JLL represented the landlord, Nella Oil Co., in negotiations. By Tomalina Pacheco
WeWork Continues San Francisco Growth
Shared office provider WeWork has reached a deal with Denver, CO-based Dividend Capital Diversified Property Fund Inc., a public reporting, NAV REIT (NASDAQ: ZDPFAX; ZDPFEX; ZDPFIX; ZDPFWK), to open a 51,859-square-foot place at 655 Montgomery St. in downtown San Francisco’s Financial District.
New York City-based WeWork will inhabit floorings 5-7 of the 27-story, 268,849-square-foot property. The place will mark WeWork’s tenth in the city of San Francisco and twelfth in the Bay Location.
Mark Geisreiter, Kenneth Churich and Alexis Walsh of CBRE represented Dividend Capital, while WeWork was represented by Karl Hansen of CBRE. By David Whitmore
FM Global Pertaining to SmartREIT, Mitchell Goldhar’s KPMG Tower in Vaughan
FM Global, an almost 200-year-old shared insurer locateded in Rhode Island, has finalized a 13-year lease with Smart Property Financial investment Trust (TSX: SRU.UN) and Mitchell Goldhar to inhabit roughly 48,000 square feet at the venture’s recently completed KPMG Tower in Vaughan, Ontario.
FM Global will join such renters as KPMG, Miller Thomson, Harley Davidson, GFL, TD Bank, BMO Wealth Management, PwC, the YMCA, and Vaughan Libraries at SmartCentres Place, a 100-acre, 17 million-square-foot master prepared development within the VMC that presently consists of the KPMG Tower and will soon include the 220,000-square-foot PWC tower.
Ken Karulas, Michael Hagerty, Eric Shaw and Garret Noiles from Cushman & & Wakefield worked as double representatives in the FM International deal, that includes two five-year extension options. By Nadia Mohamed
Global Engineering Company Moving Chicago Operations to Willis Tower in 47,000-SF Offer
It’s been a hectic month at the Willis Tower following news ESD, a worldwide consulting-engineering firm, signed a lease to move its Chicago operations to 46,884 square feet across one-and-a-half floors at the 110-story, 3.9 million-square-foot landmark high-rise situated at 233 S. Wacker Dr. in Chicago’s West Loop.
The business will transfer approximately 250 staff members to the 53rd and half of the 54th floor in June 2018, signing up with such tenants as Dentons, Korn Ferryboat, United Airlines, Oracle, Schiff Hardin LLP and Convene.
Pleasure Jordan, Jamey Dix and Maggie Brophy of the Telos Group managed settlements on behalf of Equity Office, while Steve Stratton and Jeffrey Liljeberg of JLL, in cooperation with Gregg Witt of CBRE, represented ESD. By Rita Iseghohi
LA DOH Preleases 40,000 SF in Lincoln Medical Bldg.
. The County of Los Angeles’ Department of Health signed a 10-year workplace lease for 39,900 square feet in the proposed medical office complex at 3331 N. Broadway in Los Angeles, CA. The three-story Lincoln Medical Building will amount to roughly 47,830 square feet. The leading two floorings will be medical workplace and the very first floor will be retail. The Department of Health will occupy the whole leading two floorings and plan on relocating at the beginning of 2019.
Steve Marcussen with Cushman & & Wakefield in Los Angeles in addition to Ron Heim of Cushman & & Wakefield’s Ontario workplace represented the property owner, Oppidan LLC, which will break ground on the job this month. By Kate Retzinger
FiscalNote Leases 38,411 SF in D.C.’s Heurich Structure.
FiscalNote, an information analytics company, signed a 10-year deal for 38,411 square feet in the Heurich Structure at 1201 Pennsylvania Ave. NW in Washington, D.C.
. The 13-story structure totals 452,661 square feet of Class An office space. FiscalNote’s lease includes the entire 6th flooring. Other occupants in the structure consist of the Hudson Institute and Association of Test Publishers.
Bobby Blair of JLL represented the renter. Doug Mueller and Evan Behr, likewise of JLL, represented the owner. By Sean Freeman
Nulogy Leases 32,000 SF at Global Home Bldg. in Toronto.
Nulogy, a Toronto-based worldwide software company that deals with the supply chain industry, signed a 10-year offer for 32,332 square feet in the Global House structure located at 480 University Ave. in Toronto, ON.
The 18-storey building overalls 260,247 square feet of workplace in Toronto’s downtown core along University Ave. and Dundas Street West. It was constructed in 1967 and is presently owned by Amexon Characteristics.
Sean Hoehn of Cresa Toronto represented Nulogy in this deal. Amexon Home Management used in-house representation provided by Joseph Azouri. By Kevin Laton
Insurance and Threat Management Firm Inks 10-Year Deal at Riverside Plaza.
Arthur J. Gallagher & & Co., an international insurance brokerage and risk management services firm headquartered in Rolling Meadows, IL, signed a 10-year lease for 30,636 square feet within Riverside Plaza in Chicago’s West Loop.
The 23-story workplace complex totals 1,048,357 square feet one block south of Union Station at 300 S. Riverside Plaza. Other tenants in the building include Evolent Health, Newark Corp. and Zurich American Insurance coverage Co.
. Matthew Pistorio and Joy Jordan of The Telos Group dealt with lease negotiations on behalf of the property manager, a joint venture consisted of Mizrachi Group and David Werner Real Estate. By Enid Guerrero
Select Comfort Selects to Exercise Growth Alternative at AMEX Minneapolis Bldg.
. Select Convenience Corporation, developer of the Sleep Number ® bed, has worked out an expansion alternative on its 211,000-square-foot office lease at the AMEX Minneapolis office building located at 1001 S. 3rd Ave. in Minneapolis, MN, growing to a total of 238,000 square feet.
Emily Nicoll and John Ferlitta with CBRE represented Select Convenience < a href=" http://www.costar.com/News/Article/Select-Comfort-Leases-211000-SF-at-AMEX-Minneapolis/186443"target= “_ blank “> in its preliminary lease, dated October 21, 2016. The tenant remains in the process of moving its headquarters from rural Plymouth, MN to its new downtown facility, which is expected to house more than 900 workers, a call center, research study and advancement lab and executive workplace area when the business takes tenancy this fall. By Justin Sumner
Levine Leichtman Capital Ptnrs Leases 24,000 SF in Beverly Hills.
Levine Leichtman Capital Partners signed a 10-year lease for 24,124 square feet in the office complex at 335-345 N. Maple Dr. in Beverly Hills, CA.
Scott Menkus of Cushman & & Wakefield represented Levine Leichtman Capital Partners. John Ollen and Patrick Nally with Tishman Speyer represented the property owner in-house. By Octavia McDuffie
BMG Preleases 24,000 SF on Music Row.
BMG, a world-famous music label, has pre-leased 23,740 square feet at the proposed One Music Circle South office complex set to increase at 1 Music Cir. S in Nashville, TN.
The 106,480-square-foot office building is scheduled to begin in January 2018 with a delivery date in early 2019. One Music Circle South is located simply off Music Row, within walking range to Nashville night life.
Janet Sterchi, Doug Ryan and Nikko Sansone of Colliers International represented the property manager. Crews Johnson of Cushman & & Wakefield represented the tenant. By Calvin Peterson
Ganfer Shore Restores 22,000-SF Area at 360 Lex.
Ganfer & & Shore LLP, a law practice concentrating on securities, industrial and real estate law, signed a six-year renewal for 22,142 square feet in the office building at 360 Lexington Ave. in New York, NY.
David Hoffman, Robert Billingsley and Whitnee Williams of Cushman & & Wakefield represented the occupant. Mark Weiss, likewise with Cushman & & Wakefield, represented the proprietor, AEW Capital Management. By Daniel Hausman
Troutman Sanders Leases 17,000 SF at Midtown Plaza in Raleigh.
Troutman Sanders has
reached a seven-year offer Atlanta-based Troutman Sanders has run its Raleigh office from the BB&T/ 2 Hanover Square building on Fayetteville St. for the last years. With the brand-new lease, the company will shift its location workplaces to the 12th floor of the Midtown office complex with a move-in date scheduled for early January 2018.
Hooker Manning and Alex Mikels of Kane Realty Group represented the proprietor in-house settlements. By Gabrielle Connelly
Arup Reaches 16,000-SF Handle Downtown Oakland’s Town hall.
Arup, an independent company of designers, coordinators, engineers, consultants and technical experts established in 1946, has of signed a lease to occupy the 13th floor of 1330 Broadway in downtown Oakland. The ten-year, 16,034-square-foot deal represents an expansion for the business.
The lease comes on the heels of a six-year deal signed by Redwood Shores, CA-based computer innovation corporation Oracle (NYSE: ORCL), which will inhabit 16,000 square feet throughout the 17th flooring.
John Dolby and Greg Fogg of Cushman & & Wakefield represented Arup in the lease settlements, while TMG was represented by Dane Hooks of Cushman & & Wakefield. By David Whitmore