Weekly Wrap-Up of Largest Reported Workplace Leases Include Offers by Bates White, WeWork, The Earnings Group, SAP and more
Travel Leaders Group has signed a lease to inhabit 105,892 square feet at 1633 Broadway in New york city City.
The biggest travel agency in the United States, Travel Leaders Group will occupy the entire 35th and 36th floorings on a 10-year deal slated to commence in Q1 2018.
The CBRE team of Patrice Meagher, Paul Amrich, Howard Fiddle, Emily Jones and Robert Hill brokered the lease on behalf of the property manager, Paramount Group. By Daniel Griffin
Bates White Most current to Sign On at Alexander Court Redevelopment
Bates White has signed a multi-year offer for 84,325 square feet in the North structure at Rockrose Advancement and Spitzer Enterprises’ Alexander Court redevelopment in downtown Washington, D.C.
Located at 2000 L St., the 552,477-square-foot, 13-story office complex is being redeveloped in addition to 2001 K St. NW to form Alexander Court, a brand-new prize office development situated 2 blocks east of Washington Circle near D.C.’s West End.
Kevin Howard of CBRE worked out the lease on behalf of Bates White, while William Stern and Greg Tomasso of Avison Young represented ownership. By Sean Freeman
WeWork Picks One Glenwood Development for First Raleigh Area
WeWork will open its very first area in Raleigh and its 2nd in the Carolinas after the shared workplace company signed a lease for 81,032 square feet at Heritage Properties’ suggested One Glenwood project in west Raleigh.
The New York City-based business will occupy floors 3 through 5 of the $86 million project, which is set up to break ground later on this month at the corner of Glenwood Ave. and Hillsborough St. and provide in Q4 2018.
William Allen and Alex Dunn of Trinity Partners represented Heritage Characteristic in settlements, while Jason High and John Daly of CBRE brokered the deal doe WeWork. By Brian Hobson
The Income Group Leases 69,223 SF in Midtown Cleveland
The Income Group, a balance dues management business, signed a lease for 69,223 square feet in the office building at 3711 Chester Ave. in Cleveland, OH.
The two-story building overalls 100,395 square feet in Midtown. The property’s previous owner, Dealership Tire, vacated the residential or commercial property in early 2017.
The property’s present owner, IRG Real estate Advisers (IRG RA), brokered the offer in-house. By Michele Turner
SAP Leases 43,800 SF in Hines/Cousins’ 8000 Avalon Workplace Tower
SAP, a leading provider of enterprise software, signed a 10-year lease to take around 43,800 square feet at 8000 Avalon in North Atlanta.
Houston-based Hines and Atlanta-based realty financial investment trust Cousins Residence (NYSE: CUZ) co-developed the 228,182-square-foot, nine-story office midrise as part of The Avalon mixed-use advancement. SAP’s lease beings 8000 Avalon to 93% leased.
Gregg Metcalf, Tim McCarthy and Ryan Fetz of JLL represented SAP in lease settlements. By Brittany Thomas
Homrich Berg Picks Three Alliance Center for Corporate Headquarters
Homrich Berg has finalized an offer that will see the wealth management company move its headquarters to 26,126 square feet at the brand name new Three Alliance Center tower in Upper Buckhead.
For the last 25 years, Homrich Berg had actually preserved its head office at neighboring One Buckhead Plaza. The new location will keep the firm on the Georgia 400 passage and continue to supply MARTA rail access while providing expanded space to accommodate business development.
Chis Ahrenkiel worked out the Homrich Berg lease in-house on behalf of 3 Alliance Center owner, Tishman Speyer. By Bryce Meyers
Storm8 Subleases 24,192 SF in Bayshore Tech Park
Mobile social video game designer Storm8 has subleased 24,192 square feet at 2400 Bridge Pky. in Redwood City, CA.
The 48,384-square-foot, two-story office building lies southeast of San Francisco within the Bayshore Innovation Park in the Foster City/Redwood Shores submarket.
Jay Sternberg and Paul McManus of Colliers International represented Storm8, while Luke Wilson and Grant Zamudio, also of Colliers International, represented the sublessor. By Eric Kies
Mercury Insurance coverage Inks Offer at NW San Antonio Residential or commercial property
Mercury Insurance (NYSE: MCY), a multiple-line insurance organization locateded in Los Angeles, reached a deal to rent 22,317 square feet of office space at 4500 Lockhill-Selma Rd. in San Antonio, TX.
The 107,726-square-foot, two-story building was finished in 2006 just southeast of the I-10/ N. Loop 1604 West interchange in the Northwest submarket.
David Held and Albert McNeel of Endura Advisory Group handled lease negotiations on behalf of the owner, Southwest Organisation Corp. Gary Goodgame of Corporate Realty Associates represented Mercury Insurance. By Andrea Lawson
Nelson & & Kennard Leases 21,507 SF in McClellan Park
Nelson & & Kennard, a law office focusing on debt collection, has signed a five-year lease for 21,507 square feet in the office complex at 5011-G Dudley Blvd. in McClellan, CA.
Nelson & & Kennard is slated to move into the 159,285-square-foot, single-story building in January 2018 after the property is developed out into 100% office space.
John Knauer of McClellan Park, LLC represented the property manager in-house. By Lyssa Woo
Morgan Stanley Consents to Lease Renewal at Drake Pointe
New york city City-based worldwide monetary services firm Morgan Stanley (NYSE: MS) has renewed its 17,244-square-foot lease at 35055 W. 12 Mile Rd. in Farmington Hills, MI. Called Drake Pointe, the two-story, 68,100-square-foot office building was constructed in 1984
in the Farmington/Farm Hills submarket and last refurbished in 1996. According to CoStar details, Morgan Stanley has maintained a workplace in the building given that 1997. Representatives with JLL represented Morgan Stanley in the deal while building owner Promanas Group was represented in-house. By Delphine Thomas UMB Bank Indications Deal at 777 Main for Flagship Office UMB Bank has signed a 10-year lease at 777 Main in downtown Fort Worth, TX where the company will develop a new flagship office. A varied financial holding company and subsidiary of Kansas City-based UMB Financial Corp (NYSE: UMBF), UMB Bank will occupy 19,000 square feet on the 5th flooring presently inhabited by Frost Bank. The deal consists of 12,000 square feet of office and a 7,000-square-foot lobby, in addition to outside signage. Mike Gosslee and Jay Holland of Cushman & Wakefield represented the renter. It appears that the property manager was self-represented. By LaShawnda Sharp Verizon to Open New Office in Guv’s Hill Transnational communications huge Verizon (NYSE: VZ )has signed a lease for 14,352 square feet in the office complex at 8800 Governor’s Hill Rd. in Cincinnati, OH. The two-story structure totaling 28,704 square feet was built in 1984 about 20 miles northeast of Cincinnati in the Guv’s Hill office park. John Eckert and Scott Yards of CBRE represented the property owner in settlements. By Jessy Gendelman College Football Playoff Extends HQ Lease Through 2024 The College Football Playoff( CFP) has< a href=" http://www.costar.com/News/Article/College-Football-Playoff-Extends-HQ-Lease-Through-2024/193363
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Gemini Rosemont Commercial Property to maintain its corporate workplaces at The Top at Las Colinas in Irving, TX. CFP, the company that picks the matchups for Division I college football’s BCS bowl games, has actually been locateded at 545 E. John Carpenter Fwy. given that 2013. With the renewal, CFP will stay in its 10,228-square-foot offices through 2024
. Kirby White of Rosemont Realty represented Gemini Rosemont in settlements, while Peery Wood of CBRE represented CFP. By Fran Koerner