Tag Archives: manhattan

Office Lease Up (October 2) Amazon Picks Manhattan for 360,000-SF Place at 5 Manhattan West

Weekly Wrap-Up of Largest Reported Workplace Leases Include Offers by NTT Data, Kaplan, DLA Piper and more

Amazon signed a 15-year workplace lease for 360,000 square feet in the 5 Manhattan West developing at 450 W. 33rd St. in

New York City. The recently-renovated Brookfield Residence’ structure stands 16 stories tall amounting to more than 2.15 million square feet. The building is the home of multiple tenants including < a href=" http://www.costar.com/News/Article/Related-News-2/191780"target= “_ blank “> J.P. Morgan Chase, R/GA, Markit Group and Brookfield. Amazon will take the whole 6th and seventh floorings of the tower as well as part of the 8th and the tenth floors in a relocation that is anticipated to bring 2,000 tasks to the Penn Plaza/ Garment District submarket of Manhattan.

The Cushman & & Wakefield team of Bruce Mosler, Josh Kuriloff, Rob Lowe, Ethan Silverstein and Matthias Li, along with Brookfield’s internal leasing team of Jeremiah Larkin, Duncan McCuaig and Alex Liscio, represented the property owner. Derek Trulson, Josh Stuart, Costs Peters and Clay Nielsen of JLL represented the tenant. By Daniel Griffin

Japanese IT Company Signs for 233,000 SF at Dreien Opportunity Partners’ The Campus at Tradition West

Japan-based system integration company and Nippon subsidiary NTT Data has < a href=" http://www.costar.com/News/Article/Japanese-IT-Company-Signs-for-233000-SF-at-Dreien-Opportunity-Partners-The-Campus-at-Legacy-West/194520" target=" _ blank" > agreed to take 232,744 square feet at the School at Tradition West in among the largest workplaces rents signed

in the Dallas market this year. Previously the corporate headquarters school of J.C. Penney, the 1.8 million-square-foot Plano, TX office park is located just northwest of One Tradition West, Gaedeke Group’s 14-story office building where NTT Data currently runs out of the top six floorings.

The business plans to transfer from its 729,017-square-foot, three-story complex at 2300 W. Plano Pky. to the second floor of The School at Legacy West with a move-in date scheduled for Q2 2018.

John Conger and David Quisenberry with Colliers International supplied representation for Dreien Opportunity Partners, while Steve Jarvie with ESRP represented NTT Data. By Timothy Houseal

Kaplan Restores 193,000-SF Lease in Fort Lauderdale

Kaplan, Inc. has renewed its lease totaling 193,000 square feet at the Cypress Creek Concourse buildings situated at 1515 and 1525 W. Cypress Creek Dr. in Fort Lauderdale, FL.

Cypress Creek Concourse is consisted of twin four-story, 96,948-square-foot office complex built in 2002 on 45 acres within the Cypress Creek submarket of Broward County. The tenant, the moms and dad business of Kaplan University, has held its headquarters in the 2 buildings since 2004.

Jeffrey Samaras, Kent Ilhardt, Jeff Holding and Franklin Speyer of Cushman & & Wakefield represented Kaplan, Inc. Richard Gatto of The Alter Group represented the property owner in home. By Heather Sellers

DLA Piper to Preserve 119,000 SF of Office at University Circle in East Palo Alto

DLA Piper has elected to
< a href=" http://www.costar.com/News/Article/DLA-Piper-to-Maintain-119000-SF-of-Office-Space-at-University-Circle-in-East-Palo-Alto/194441" target=" _ blank" > restore all 118,167 square feet of office at University Circle in East Palo Alto, CA for an additional five years.

The London-based international law practice and one of the biggest law office in the United States by earnings agreed to an extension with University Circle owner Columbia Property Trust (NYSE: CXP) that will begin following the expiration of DLA Piper’s existing handle June 2018. The company’s brand-new lease will go through June 2023.

George Fox and Hamilton Southworth of CBRE represented DLA Piper in the renewal settlements. Mike Courson and Howard Dallmar of Newmark Cornish & & Carey represented Columbia Property Trust. By Eric Kies

Harvard University Leases 63,000-SF Cambridge Bldg. for IT Providers Dept.

Harvard University has
< a href=" http://www.costar.com/News/Article/Harvard-University-Leases-61000-SF-Cambridge-Bldg-for-IT-Services-Dept/194589" target=" _ blank” > signed a long-lasting lease with The Bulfinch Cos. to establish its infotech (IT) services department at 784 Memorial Dr. in Cambridge, MA.

The lease is for the whole 63,200-square-foot, four-story building, which was originally built in 1937 and inhabited by Polaroid Corp. before most recently real estate the offices of Infinity Pharmaceuticals.

Located on the banks of the Charles River near I-90, the residential or commercial property has actually been refurbished to service the requirements for more contemporary development.

JLL’s John Osten, Molly Heath and Peter Bekarian represented Harvard University. Michael Wilcox worked out the lease in-house on behalf of Bulfinch. By Douglas Dunbar

SunTrust Bank Indications Renewal, Growth in Atlanta’s Perimeter Center

SunTrust Bank has renewed its existing 48,871-square-foot lease and added an additional 8,486 square feet of space at 211 Perimeter Center Pky. NE in Atlanta.

The American bank holding company, which is locateded close by at the 1.2 million-square-foot, 60-story SunTrust Plaza in downtown Atlanta, chosen to preserve its existing workplaces at the Border Center building, noting its proximity to Marta, present workforce and on-site features.

Kirk Diamond, April Parrish, Erin Smith and Steven Taylor of Cushman & & Wakefield represented SunTrust in negotiations, while Jeff Frantz of JLL represented structure owner, GID Investment Funds. By Stuart Paykel

Selective Insurance coverage Co. of America Extends Lease in Richmond’s The Boulders Office Park

Branchville, NJ-based Selective Insurer of America
extended its 30,113-square-foot lease at 7401 Beaufont Springs Rd. in Richmond, VA.

. Referred to as Boulders VI, the 82,732-square-foot, four-story office complex was built in 1998 as part of the four-building The Boulders office park situated in Richmond’s Midlothian Corridor. Selective Insurance coverage inhabits the whole 4th floor and partial space on the third flooring.

Brian Berkey of Cushman & & Wakefield|Thalhimer represented the tenant. Joseph Caperton and Amanda Tyson of Brandywine represented the owners, a joint endeavor comprised of Brandywine Real estate Trust and OZ Management. By Colton Konvicka

Platts Restores 28,000-SF Lease at Heritage Plaza

S&P Global Platts will continue to fully inhabit the 22nd floor of the 51-story, 1.2 million-square-foot Heritage Plaza in downtown Houston after
< a href=" http://www.costar.com/News/Article/Platts-Renews-28000-SF-Lease-at-Heritage-Plaza/194530" target=” _ blank “> accepting a renewal with property owners, AEW Capital Management and Brookfield Workplace Properties

. The energy and products details and analytics service has actually occupied its 28,560-square-foot area on the 22nd floor since 2012, according to CoStar info.

Clint Bawcom and Jon Dutton from Brookfield Workplace Characteristic represented the owners in-house. By James Saris

Fox Swibel Restores 23,000-SF Lease at 200 W. Madison

Fox Swibel has < a href=" http://www.costar.com/News/Article/Fox-Swibel-Renews-23000-SF-Lease-at-200-W-Madison/194578" target =" _ blank" > completed a 10-year lease extension for the company’s 22,600-square-foot workplaces at 200 W. Madison St. in Chicago’s West Loop.

The shop law firm completely occupies the 30th floor of the 45-story, 1.067 million-square-foot 200 W. Madison tower. Other occupants in the building consist of Sikich, Canon and Barack Ferrazzano Kirschbaum & & Nagelberg LLP.

Cal Wessman, Bill Sheehy and Jon Milonas of CBRE represented Fox Swibel in the extension, while Jeff Dowdell and Katie Steele of Transwestern represented the landlord, Multi-Employer Home Trust. By Christopher Pressley

WCA Waste Corp. Leases Leading Floor in 30-Story 1330 Post Oaks Blvd.

. WCA Waste Management, a Houston- based waste management business, < a href =" http://www.costar.com/News/Article/WCA-Waste-Corp-Leases-Top-Floor-in-30-Story-1330-Post-Oaks-Blvd/194580" target=" _ blank" > rented 19,945 square feet in the office building situated at 1330 Post Oak Blvd in Houston, TX.

The 588,531-square-foot, 30-story tower was constructed in 1983 within 4 Oaks Place and last remodelled in 2006. WCA will totally inhabit the top floor, according to CoStar information.

Dan Boyles and Mike Mannella of NAI Partners represented the occupant, while Eric Anderson and Tyler Garrett of Transwestern represented the property owner. By Julian Thompson

Workplace One to Open 5th Area in Greater Toronto Area

Shop office space company Workplace One < a href= "http://www.costar.com/News/Article/Workplace-One-to-Open-Fifth-Location-in-Greater-Toronto-Area/194604" target= “_ blank “> is broadening in Toronto with a fifth location to overall 19,640 square feet at 77 Bloor St. W in Toronto’s Bloor/Yonge submarket.

The company settled a deal to sublease the sixth flooring within the 20-story, 392,814-square-foot office tower from anchor occupant, TD Canada Trust. The sublease is for 15 years, according to CoStar details.

David Moretti of Colliers International represented Workplace One in this deal, while John Morelli of Morguard represented the sublessor in settlements. By Nadia Mohamed

Leading Lobbying Company KP Public Affairs Moving to U.S. Bank Tower

KP Public Affairs has settled a deal that will see the largest lobbying firm in Sacramento move its workplaces from 1201 K St. to the United States Bank Tower at 621 Capitol Shopping mall.

A law firm that represents California’s leaders in business and innovation, KP signed a 10-year deal for 16,258 square feet on the 19th flooring of the 25-story, 366,821-square-foot office complex. The company is slated to take occupancy of its new space in the first quarter of 2018.

Tony Whittaker, Amy DeAngelis and Lisa Stanley of CBRE represented the property manager, while Greg Levi of JLL represented KP Public Affairs. By Steve Wells

Covenir Picks The Guaranty Bldg. in Downtown Worcester for New Workplace

Covenir, a Chicago-based company that supports insurance companies in numerous backroom functions,
signed a brand-new lease for 15,475 square feet in the Warranty Structure at 370 Main St. in downtown Worcester, MA.

The 12-story Guaranty Structure amounts to 193,932 square feet near I-290, the MBTA0Worcester & & union station and Amtrak-Worcester station in the Worcester Metro submarket. Covenir will move into the 5th flooring next quarter, joining such tenants as TD Bank and Fletcher Tilton PC in the building.

Donald Mancini, SIOR, CCIM, James Umphrey and Drew Higgins of Kelleher & & Sadowsky Associates represented the property owner. Arlon I. Brown, SIOR of SVN Parsons Commercial Group Boston represented Covenir. By Allison Quinn-Redding

Deadly shooting occurs in Manhattan condos on Las Vegas Boulevard

Police at the scene of a fatal shooting at a condo complex on Las Vegas Boulevard on Sept. 24, 2017. (Cherney Amhara/FOX5)< img src =" /wp-content/uploads/2017/09/14993016_G.jpg "alt =" Cops at the scene of a deadly shooting at a condominium complex on Las Vegas Boulevard on Sept. 24, 2017.
Front entrance to Manhattan Condominiums on Sept. 24, 2017. (Cherney Amhara/FOX5)( Cherney Amhara/FOX5)” title=” Authorities at the scene of a deadly shooting at a condominium complex on Las Vegas Boulevard on Sept. 24
, 2017.

( Cherney Amhara/FOX5)” border= “0” width= “180”/ > Authorities at the scene of a fatal shooting at an apartment complex on Las Vegas Boulevard on Sept. 24, 2017.( Cherney Amhara/FOX5).< img src=" http://kvvu.images.worldnow.com/images/14993030_G.jpg" alt =" Front entrance to Manhattan Condominiums on Sept. 24, 2017.( Cherney Amhara/FOX5 )" title =" Front entryway to Manhattan Condominiums on Sept. 24, 2017.

( Cherney Amhara/FOX5)” border=” 0″ width=”180″/ > Front entryway to Manhattan Condos on Sept. 24, 2017.( Cherney Amhara/FOX5). LAS VEGAS( FOX5)-. Cops stated a male has been shot to death Sunday early morning in a condominium neighborhood found on Las Vegas Boulevard.

Officers reacted to a shooting call at 30 E. Serene Ave., at the corner of Las Vegas Blvd., simply after 7:15 a.m. City reported a male was injured several times by shooting while inside the underground parking at Manhattan Condominiums. Homicide detectives stated the victim appears to have actually been targeted with evidence recommending the shooting was gang-related or a prostitution dispute.

City PD stated one male pronounced dead on scene, appears to be a targeted murder. Thinks it might be gang-related or prostitution dispute. pic.twitter.com/gyAanvf2ch

— Chernéy Amhara FOX5 (@CherneyAmharaTV)

September 24, 2017 The event stays under investigation according to authorities. Stay with FOX5 for additional updates on this story.

Copyright 2017 KVVU ( KVVU Broadcasting Corporation). All rights reserved

Jury Rules United States May Take Manhattan Office Tower Connected to Iranian Non-Profit, Home Interests in 3 Other States

Court Upholds Government’s Claims to 36-Story Tower, Additional Residential or commercial property Interests in CA, MD, NY and TX

In what could turn out to be the biggest terrorism-related property forfeit in history, a jury has ruled that the government might take 650 Fifth Opportunity, a high-profile workplace tower in Midtown Manhattan, which U.S. prosecutors have alleged in a long-running series of complaints is controlled by an Iranian state-controlled bank, in addition to portions of interests in 5 other residential or commercial properties in California, Maryland, New York and Texas.

After simply a day of deliberation, the eight-member jury in U.S. District Court, Southern District of New york city ruled all Thursday that the non-profit Alavi Foundation broke U.S. sanctions against Iran permitted under the International Emergency Economic Powers Act.

The 1977 law authorizes the president to regulate commerce, approximately and consisting of the taking of private properties, after declaring a nationwide emergency situation in action to any uncommon and remarkable hazard to the United States by a foreign source.

An Iran-based non-profit company, Alavi Structure, acquired land and established the 36-story, 395,000-square-foot property under orders by then-Shah of Iran Mohammad Reza Pahlavi the in the 1970s. When the Islamic transformation toppled the shah in 1979, the new Iranian government replaced Alavi’s board of directors.

Prosecutors first filed a problem in 2008 alleging that Alavi was using its 60% interest in 650 5th to wash money through its association with Assa Corp., a shell business for Iran’s state-controlled bank that owns the other 40% of the property, which might now deserve up to $1 billion.

The jury also ruled in favor of the federal government’s efforts to take numerous Alavi checking account and shares of other properties in California, Maryland, New york city and Texas that were funded by 650 Fifth’s rental income. Inning accordance with the problem, the properties include the following:

* 2313 S. Voss Roadway, Houston
* 55-11 Queens Blvd., Queens, NY
* 4836 Marconi Ave., Carmichael, CA (Sacramento market)
* 7917 Montrose Roadway, Rockville, MD
* 8100 Jeb Stuart Road, Rockville, MD

On 2 properties at 4300 and 4204 Aldie Road, Catharpin, VA, the jury concluded that the government did not show its claim that earnings were traceable to the infraction of federal sanctions.

Federal officials intend to take the properties and possessions and distribute the profits to victims of terrorist acts connected to Iran, including victims of the Sept. 11, 2001 attacks.

Inning accordance with CoStar information, Nike became 650 Fifth’s largest tenant in April when the apparel company signed a 15-year lease for several floorings totaling 75,822 square feet. Other big occupants consist of Delta National Bank and the Doris Duke Charitable Foundation.

Ivanhoe Cambridge, Callahan Capital Acquire Manhattan'' s 85 Broad St. in Newest Workplace Buy

Montreal-based Ivanhoé Cambridge, Inc. and its financial investment partner, Callahan Capital Residence (CCP), have actually obtained the 30-story, 1.12 million-square-foot 85 Broad St. in New York City for approximately $650 million, or about $580 per square foot, from a joint-venture between MetLife Real Estate and Beacon Capital Partners.

MetLife previously owned the tower before inducing Beacon in a $175 million, 50/50 recapitalization of the workplace tower in November 2014, according to CoStar information. At the time, the structure was simply 45 percent leased after Goldman Sachs left its area in the structure in 2010.

See CoStar COMPS # 3166647.

The workplace tower was integrated in 1983 in downtown Manhattan’s financial district, in between S. William and Pearl Streets.

A recent capital improvement program at the residential or commercial property concentrated on raising existing building amenities and adding tenant services consisting of a bike room, wellness center, conferencing facilities and new food offerings. Following the improvements, shared office company WeWork rented 235,000 square feet there, and today the asset is nearly 88 percent rented to such tenants as Oppenheimer & & Co., The Nielsen Company and VOX Media. Numerous full-floor accessibilities listed by Newmark Grubb Knight Frank provide to 76,814 square feet of adjoining space.

Eastdil Protected brokered the sale on behalf of the sellers.

“This acquisition expands our footprint and brings our New york city office portfolio to more than 6.7 million square feet,” stated Arthur Lloyd, president, office, North America, Ivanhoé Cambridge, the realty subsidiary of Caisse de dépôt et placement du Québec.

Ivanhoé Cambridge chose Callahan Capital Residence in 2012 to become its special consultant in broadening its United States workplace real estate portfolio. To date, CCP has helped Ivanhoé Cambridge in expanding its office financial investments in five significant US markets; Chicago, Denver, Los Angeles, New york city and Seattle.

“We believe downtown uses incredible long-term growth possible offered the enormous public and private investment that continues to bring in a broad variety of companies and citizens,” included Tim Callahan, ceo of CCP on his company’s venture into the downtown Manhattan office market. Prior to establishing CCP in 2006, Callahan was CEO of previous national office REIT Trizec Characteristic, Inc.

. The acquisition of 85 Broad Street is the 2nd significant workplace home Ivanhoé Cambridge and CCP have acquired up until now this month. Earlier in May they closed on the $145 million acquisition of 125 South Wacker Drive in downtown Chicago.

Please see CoStar COMPS # 3915769 for additional info on this transaction.

Savanna Sells 100 Wall Street in Manhattan

International property financial investment management business Foundation Group Real Estate Solutions LLC, a member of the MassMutual Financial Group, has closed on its acquisition of 100 Wall St. in New York City.

Though the list prices was not disclosed, local media is reporting the downtown workplace structure traded for $275 million, which would equate to about $573 per square foot.

Savanna got the asset in Might 2011 for $130 million, according to CoStar information. The firm since invested more than $25 million in capital enhancements, including an effective pre-built program and resiliency improvements following Typhoon Sandy in 2012.

The 29-story, 480,000-square-foot, 4-Star office tower was built in 1969 on half an acre in Manhattan’s Financial District submarket, between Water and Front Streets. It showcases 12 elevator banks, on-site banking and concierge, access to public transit, and 12-foot slab heights.

The structure is currently 97 percent leased, following more than 355,000 square feet of completed leases over the past 2 years. Law practice Lester Schwab Katz & & Dwyer took two floors there in 2014, and this year InterExchange leased 15,000 square feet in the structure. JLL’s leasing group of Mitchell Konsker, Scott Cahaly, and Kyle Young assisted Savanna in enhancing occupancy from 78 percent in 2011.

“Lower Manhattan has actually experienced a remarkable amount of development over the previous couple of years and is getting in an interesting stage of its renaissance,” stated Kevin Hoo, handling director at Savanna. “100 Wall Street will be a direct recipient of this growth, and we are delighted to have transacted with Cornerstone, a world class property owner.”

Douglas Harmon, Adam Spies, Joshua King, and Adam Doneger of Eastdil Protected represented the seller, an institutional property private equity firm and possession management business with more than $2.7 billion in total financial investments considering that 2006. Carl Schwartz, Laurie Grasso, Susan Saslow, Larissa Kravanja, and Ian Group of law firm Hunton & & Williams LLP served as legal counsel, with help from Barbara Lau.

Please see CoStar COMPS # 3341879 for extra information on this transaction.