Wrap-Up of Largest Reported Workplace Leases Include Deals by New York City Dept. of Examination, EDC, Jazz Pharmaceuticals and more
Dropbox has signed a lease for 100 % of the workplace in Kilroy Realty Corp.’s The Exchange on 16th project in an offer that represents the largest single office lease ever checked in San Francisco.
The file hosting service and leading worldwide cooperation platform agreed to a 15-year lease for 736,000 square feet within the 751,242-square-foot, four-building task currently under advancement along the 16th St. corridor in San Francisco’s Mission Bay area. Dropbox will expand into its new space in three phases to begin in the fourth quarter of 2018 and conclude in the 4th quarter of 2019.
Created by Rios Clementi Hale Studios, the LEED Platinum-seeking advancement will consist of 4 interconnected structures, comprised of 2 six-story and two 12-story buildings, with a selection of on-site features to include collaborative outdoor spaces, two public lobbies, rooftop gardens and a lobby bike medspa, in addition to 14,400 square feet of street-level retail space currently readily available for lease. The Exchange is slated to deliver adjacent to I-280 near Muni’s T-Line at 1800 Owens St. in mid-2018.
Costs Cumbelich and Mark Geisreiter of CBRE’s San Francisco workplace, together with Sherman Chan of CBRE’s San Jose office, represented KRC in settlements at The Exchange on 16th. By Bryce Meyers
New York City Dept of Investigation Leases 276,000 SF at Continental Center
The New york city City Department of Investigation signed a 20-year office lease for 276,221 square feet in the office complex
located at 180 Maiden Ln. in New York City. Located on the East River in lower Manhattan, the 41-story Continental Center amounts to approximately 1.2 million square feet in the City’s Financial District submarket. The government firm will occupy the 16th and 24th floorings of the home.
Tara Starcom, Robert Lowe, Justin Royce and Frank Cento of Cushman & & Wakefield, as well as Jesse Rubens, Richard Doolittle and James Tamborlane of MHP Realty Services represented the proprietor. The occupant handled lease negotiations internal. By Alex Ern
EDC Leases 218,000 SF at One Liberty Plz
Economic Development Corporation (EDC), a non-profit corporation that promotes economic development throughout New york city City’s 5 districts, signed a 20-year lease for 218,486 square feet in the office complex at One Liberty Plaza in New york city City.
Previously called the Merrill Lynch & & U.S. Steel Building, the residential or commercial property is 54 stories and totals 2.3 million square feet. EDC’s 20-year lease consists of the whole 10th through 13th floorings of the building. For more than a year, the agency was in search of a new head office space from their present location at 110 William Street.
Neil Goldmacher, Chris Mongeluzo and Howard Kesseler of Newmark Knight Frank (NKF) represented EDC. NKF’s Hal Stein, Peter Shimkin, Nick Berger and David Falk represented the landlord together with in-house brokers Duncan McCuaig, Mikael Nahmias and David McBride with Brookfield Office Characteristic, Inc. By Andrea Quach
Jazz Pharmaceuticals, Stanford University Make Music As soon as Again in Palo Alto
Jazz Pharmaceuticals (NYSE: JAZZ )made a little sound in Palo Alto after the Ireland-based biopharmaceutical company signed a lease with Stanford University to fully inhabit a planned 99,415-square-foot office job set to begin later on this year at 3181 Porter Dr.
Jazz, which consented to a 12-year term with 2 five-year renewal options, is tentatively arranged to take tenancy by the end of 2019.
Mike Connor, David Hiebert and Ben Paul of Cushman & & Wakefield negotiated the lease on behalf of Stanford University, while George Fox of CBRE brokered the deal for Jazz Pharmaceuticals. By Bryce Meyers
PNC Bank Restores 89,000-SF Lease in East Brunswick
PNC Financial Services renewed its lease for 88,914 square feet in 2 Tower Center Blvd. in East Brunswick, NJ.
The 24-story, 404,000-square-foot office building was integrated in 1988 and features a seven-story parking garage, a conference center, health club and a complete snack bar.
Jeremy Neuer of CBRE represented the renter. David Simson of Newmark Knight Frank represented the property manager. By Jordan Schott
Morrison & & Foerster Commits to Akridge’s 2100 L Redevelopment
Akridge, in a joint endeavor with Corporate Office Properties Trust (NYSE: OFC)and the Argus Group, secured its very first tenant at the endeavor’s 2100 L St. job slated to break ground next year near the West End in downtown Washington, D.C.
Morrison & & Foerster LLP consented to a 15-year offer for 81,300 square feet across the leading four floorings of the proposed 10-story, 190,000-square-foot prize office building. The leading worldwide law firm from San Francisco will move its D.C. offices after nearly Twenty Years at 2000 Pennsylvania Ave. NW to its expanded area in the very first quarter of 2021. Malcolm Marshall III and Audrey Cramer of Cushman & Wakefield represented Morrison & Foerster in settlements. Ben Meisel, Wil Pace, Tim McCarty and McKay & Elliott of Akridge are specifically marketing 2100 L St. NW on behalf of ownership. By Randetta Johnson API Signs First Office Lease at 2.2 Million-SF Capitol Crossing Task in Capitol Hill American Petroleum Institute(API)has< a href= "http://gateway.costar.com/home/news/183422?market=40"target
=”_ blank “> consented to open a brand-new workplace at Home Group Partners’2.2 million-square-foot Capitol Crossing development in downtown Washington, D.C. in a deal that marks the very first workplace lease signed at the massive Capitol Hill workplace and retail job. The biggest trade association for the oil and gas industry, API will occupy 74,182 square feet across the leading two floorings at
200 Massachusetts Ave., a 425,420-square-foot, 12-story office building being developed as part of stage among Capitol Crossing. Greg Lubar and Chris Bynum of JLL worked out the lease for API, while Art Santry, Laurie McMahon, Bruce Pascal and Ned
Goodwin of Cushman & Wakefield brokered the offer for Residential or commercial property Group Partners/Capitol Crossing. By Bryce Meyers Very first People Bank Signs 53,000-SF Lease at Pillars II First Citizens Bank has signed a lease for 53,214 square
feet across the top two floors of the Pillars II structure situated at 8510 Colonnade Center Dr. in Raleigh, NC. The largest family-controlled bank in the United States and a banking subsidiary of $31 billion monetary holding business First Citizens BancShares( NASDAQ: FCNCA ), First People Bank will totally occupy the 4th and 5th floorings of the five-story, 126,926-square-foot Pillars II structure, which delivered in 2008 minutes from I-580 in the 6 Forks Falls of Neuse submarket. Dennis Hurley, SIOR and Hillman Duncan, CCIM, SIOR of Cushman
& Wakefield dealt with worked out on behalf of homeowner, Realty & Value Advisors. By Brennan West Noveome Biotherapeutics Indications Long Term Lease Growth Noveome Biotherapeutics protected a long-term lease growth and extension for its head office at 100 Technology Dr. in Pittsburgh, PA. The extension includes 28,400 square feet of office in the 153,110-square-foot Bridgeside Point I office building in
the Parkway East Passage submarket. Alexa Jennings and Nick Jacobs of JLL assisted in the direct lease agreement on behalf of the occupant. By Peter Jaquez Markel Providers
Signs 10-Year Lease Extension at 1185 Sixth International financial investment and insurance holdings firm Markel Services has extended its 27,505-square-foot lease, spanning the entire 8th floor of 1185 Avenue of the Americas in New York City, for 10 more years. SL Green Realty Corp. owns the 42-story, 1.11 million-square-foot, 4-Star workplace tower. It was integrated in 1972 on one acre in the Times Square submarket of Midtown Manhattan, in between 46th and 47th Streets. William Golden of Cushman & Wakefield represented Markel Provider in lease settlements. Howard Tenenbaum and Gary Rosen with SL Green represented the property manager in-house. By Diana Bell Grant Thornton Leases 26,000 SF in Orange County Grant Thornton, a leading worldwide independent audit, tax and advisory company, signed a seven-year lease for 26,319 square feet in the office complex
at 4695 MacArthur Court in Newport Beach, CA. The 16-story office building is owned by the Irvine Company and totals 303,853 square feet. Grant Thornton’s lease consists of the entire 16th floor and part of the 15th flooring at the MacArthur Court Stage 2 Office complex. Cushman & Wakefield’s Dan Fisk and Chon Kantikovit represented the occupant. The property manager dealt with the deal in-house. By Allan Harrington FUDA Int ‘l Restores 19,000-SF Workplace Lease at 525 Seventh FuDa International, a fashion wholesale supplier,
renewed its lease for 19,119 square feet in the office building at 525 Seventh Ave. in New york city City. The 24-story structure overalls 463,818 square feet and was built in 1925. The residential or commercial property is currently owned by Olmstead properties. Marc Schoen and Brian Neugeboren with The Schoen Group represented FuDa. Steven Marvin of Olmstead Residence acted upon behalf of ownership in-house. By Eric Samuels Kleuver & Platt to Open Office in Crain’s Interaction Bldg. Chicago law firm Kleuver & Platt has signed a lease to completely inhabit the 26th floor of the Crain’s Communications Building in Chicago’s East Loop. The 661,477-square-foot, 41-story workplace tower at 150 N. Michigan
Ave. is anchored by Crain Communications and also houses workplaces for Jackson Lewis LLP, ACLU of Illinois and Punchkick Interactive. Kleuver & Platt will occupy its
18,744-square-foot space by the end of November. Cushman & Wakefield’s Matthew Lerner and Mark Baby represented the owner, while Daniel Arends of Colliers International represented the occupant. By Bradford Hussey GameChanger Media Relocating to 44 Wall Street GameChanger Media, Inc., the developer of a scorekeeping app for youth sports groups, has signed a new lease for 16,906 square
feet of office at 44 Wall St. in New york city City. A subsidiary of DICK’S Sporting Product, the technology business will make the move from its existing space at 86 Chambers St. later this month when it takes the whole 11th flooring of its new digs on Wall Street. Haley Fisher and Mitch Arkin of Cushman & Wakefield represented GameChanger in
the lease transaction. By Diana Bell Swiss Electronic devices Maker Takes 15,926 SF at Woodfield Corporate Center One of Europe’s largest semiconductor chip maker has signed a lease to open a new workplace within the Woodfield Corporate Center in Schaumburg, IL. STMicroelectronics
, an international electronics and semiconductor producer locateded in Geneva
, Switzerland, inked a seven-year offer for 15,926 square feet at 200 N. Martingale Rd., a 242,492-square-foot, 12-story office complex situated along I-290 simply south of
the Woodfield Shopping center. The business is anticipated to take occupancy in the very first quarter of 2018. Jordan Rovito of Cushman & Wakefield represented STMicroelectronics in negotiations, while Jack Reardon and Jason Wurtz of NAI Hiffman represented the homeowner, Sperry Commercial. By Yanique Campbell