Weekly Wrap-Up of Largest Reported Workplace Leases Include Deals by Accenture, Informa, CMRE Financial, Del Frisco and more
After a two-year search, the United States Transportation Security Administration (TSA) finalized a lease for a brand-new 625,000-square-foot office advancement in Springfield, VA that will function as the federal government agency’s nationwide head office.
In November 2015, a federal judge ruled versus the TSA’s original plan to transfer its head office to the Triumph Center in Alexandria. Following the ruling, the TSA elected to < a href =" http://www.costar.com/News/Article/TSA-Delays-Move-to-Victory-Center-Re-Ups-552000-SF-HQ-Lease-at-Pentagon-City-I-II/181684" target= "_ blank “> restore its current workplaces at Pentagon City One and 2 while continuing its look for new corporate office space.
Currently based simply beyond Washington, D.C. at 601-701 S. 12th St. in Arlington’s Pentagon City, the TSA will combine four locations to the brand-new advancement slated for a 10-acre tract along Springfield Center Dr. near the Franconia-Springfield City station.
The GSA awarded the $316 million development agreement to Boston Properties (NYSE: BXP), a Boston-based self-administered and self-managed property investment trust that owns the site on Springfield Center Dr. and will lease the facility to the GSA upon its completion. By Bryce Meyers
Accenture Signs On to Anchor Manhattan West Development
Accenture, an around the world management consulting business, signed a 15-year lease for 248,673 square feet at 1 Manhattan West in New York City.
The 67-story, 2.22 million-square-foot, supertall is currently rising at 400 W. 33rd St. in Manhattan’s Penn Plaza/ Garment District submarket, in between Ninth and Tenth Avenues. Designed by Skidmore Owings & & Merrill LLP, the office complex is anticipated to be finished in 2019.
Ken Rapp, Anthony Dattoma and Michael Dash of CBRE represented Accenture. Bruce Mosler, Josh Kuriloff, Rob Lowe, Ethan Silverstein and Matthias Li of Cushman & & Wakefield, along with Jerry Larkin, Duncan McCuaig and Alex Liscio of Brookfield Workplace Properties, Inc. represented the property owner. By Samantha Reeves
Informa Leases 60,000 SF at 605 Third
Informa, a multinational occasions and releasing company, signed a 10-year office lease for 59,613 square feet at 605 3rd Ave. in New york city City. The 43-story building overalls 1.04 million square feet near Grand Central Station. The possession is owned by JP Morgan Investment Management, Inc. and Fisher Brothers Management Co. Informa’s lease includes the whole 22nd, 23rd and 24th floorings.
Louis D’Avanzo, Michael Baraldi, Maria Travlos, Andrew Ross and Bruce Mosler of Cushman & & Wakefield, together with Marc Packman and Clark Briffel of Fisher Brothers, represented the proprietor. Christopher Corrinet, Peter Gamber, Robert Hill and Michael Movshovich of CBRE represented Informa. By Nathan Wilson
CMRE Financial Services Restores 35,000-SF Lease in Brea
CMRE Financial Solutions, Inc. renewed its lease for 35,351 square feet at 3075 E. Imperial Hwy in Brea, CA. The 5 year workplace deal is valued at around $5 million.
The two-story, 70,780-square-foot office complex was integrated in 1988 within the School Pointe Brea organisation park, near Union Plaza, the Brea Shopping center and Brea Plaza in Orange County.
Jeffrey Tabor with Corporate Real estate Advisors represented the tenant. Jenni Suvari of Colyear Advancement Corporation represented the property owner in-house. By Brian Kremer
Del Frisco’s Moving Headquarters to Cypress Waters
Del Frisco’s Dining establishment Group (NYSE: DFRG) has reached an offer with structure owner Billingsley Co. to move its home office to the 1,000-acre Cypress Waters advancement in northwest Dallas. The American steakhouse restaurant chain business behind Del Frisco’s Double Eagle Steak House
, Sullivan’s Steakhouse and Del Frisco’s Grille will transfer from Southlake to 2900 Ranch Path Dr., a 31,452-square-foot, single-story office complex built in 2014 as the build-to-suit headquarters of Cheddar’s Scratch Kitchen area. Norman Abdallah, CEO of DFRG, noted the quality of space, large test kitchen and distance to the company’s current workplace as consider the decision to relocate to 2900 Ranch Trail Dr. The structure is also ideal for the company as it was custom built for a dining establishment user. By Shana Callahan Areas to Open First Chicago Place in Lincoln Park Areas has completed an offer with Newcastle Limited to lease 27,110 square feet at 1500 N. Halsted St. in Lincoln Park where the innovative work area company will open its very first Chicago area. The business’s Chicago area will offer will include a loft-style style, large windows and an open floorplan on the second, 3rd and fourth floors of the 47,000-square-foot, five-story 1500 N. Halsted structure. Spaces anticipates to open its Chicago place in early 2018. Chad Schroedl of SVN Chicago Commercial represented Newcastle Limited in settlements, while Bill Rogers and Kerry Gillar of JLL worked out the lease for Areas. By Mark Brener LaneTerralever Signs
Lease for 26,000 SF at Missouri Falls LaneTerralever, a nationally-recognized marketing service company, signed a seven-year lease for 25,625 square feet in the Missouri Falls office complex at 645 E. Missouri Ave. in Phoenix, AZ. LaneTerralever is slated to move into the 187,446-square-foot, four-story structure in early 2018. Brad Anderson, Lauren Anderson and Mike Strittmatter of CBRE represented the landlord. Colton Trauter and Costs Blake of Lee & Associates represented the renter in the transaction. By Aubrey Lechuga Annex Company Media Relocating to Cosmopolitan Corporate
Centre Annex Organisation Media, a business-to-business media company with more than 60 B2B brand names reaching service communities through print, news websites, E-news, occasions, video and social networks, has signed a 12-year lease for 23,500 square feet in the Cosmopolitan Corporate Centre located at 111 Gordon Baker Rd, in Toronto, ON. Finished in 1988, the 10-story office building amounts to 165,501 square feet near Highway 404 and Finch Ave. in the Gordon Baker/Victoria Park submarket. Annex Business Media’s lease includes the entire 4th flooring, which amounts to 17,595 square feet, and 5,905 square feet on the fifth floor. Richard Turner of Lennard Commercial represented Annex Service Media in negotiations, while Howard and Jarrod Bogler of JLL brokered the lease on behalf of the property manager,
Stockton & Bush. By Nelufer Beebeejaun Multi Service Corp. Extends 18,750-SF Lease in College Hills Multi Service Corp., a banks that specializes in closed-loop, take-home pay programs, extended its 18,750-square-foot lease at 8650 College Blvd in Overland Park , KS. The renewal is set to start in November. Elaine Sight of DDI Commercial represented the proprietor in this offer. By Connor Martz Cole Scott & Kissane Leases 18,000 SF in Orlando Law office Cole Scott & Kissane, P.A. rented 18,107 square feet in the Liberty Top office building at 1901 Summit Tower Blvd. in Orlando, FL. Michael Phipps of CBRE represented the occupant. Paul DeSario with Hines represented the property manager. By Danielle Grimelli Knotel Leases 17,000
SF in Flatiron District Knotel, Inc., a shared workplace supplier, signed a 10-year lease for 17,464 square feet in the office building at 373 Park Ave. S in New York City. Kate Goodman of ATCO Brokerage Solutions represented the proprietor. Eugene Lee of Knotel dealt with lease settlements for the tenant in-house. By Neal Carr Chattanooga Orthopedic Group Leases 17,000 SF at Atrium Memorial Chattanooga Orthopedica Group has signed a 12-year lease for 17,371 square feet in the Atrium Memorial medical office complex at 7305 Jarnigan Rd. in Chattanooga, TN. Parker Wamack of NAI Charter Real Estate Corporation represented the occupant.
Russell Elliott of Pointe Commercial Realty represented the property owner. By Ryan Sompayrac Hoplite Capital Management Indications 17,000-SF Lease in New York City Hedge fund management company
Hoplite Capital Management LP has signed a renewal lease for its 17,320 square feet at 810 Seventh Ave. in New York City. Larry Swiger of SL Green Realty Corp. represented the proprietor in-house. Chris Corrinet, Ben
Friedland, Ken Meyerson, Mike Movshovich and Adam Rabin of CBRE represented the renter. By Noel Kane Entech Civil Engineers Capitalizes on High Energy Passage Job Rate Entech Civil Engineers, Inc., a well-established
multidisciplinary consulting company that focuses on PS&E preparation and building and construction management, signed a lease for 15,346 square feet in the office building at 15021 Katy Fwy. in Houston, TX. Rob Johnson of Lee & Associates’ Houston workplace represented the occupant, while Kevin Wyatt of Lincoln Home Co. represented the property manager, Invesco Advisors. By Heidi Weiss Netflix Subleases 12,000 SF & from Twitter Netflix signed a five-year lease
at 245 W. 17th St. in New york city City, taking control of 11,592 square feet of fully-furnished space on the tenth floor under a previous lease with Twitter. Timothy Hay, Robert Hill, Sacha Zarba and Jared Isaacson with CBRE represented the renter. Barry Spagna of Cresa represented the property manager. By Daniel Griffin