Weekly Wrap-Up of Largest Reported Office Leases Include Deals by Consumer Cellular, TriHealth, University of Kansas Health center, UWorld and more
NRG Energy (NYSE: < a href=" https://www.nyse.com/quote/XNYS:NRG "target=" _ blank ” > NRG) has finalized an offer to sublet 431,037 square feet at One Shell Plaza in downtown Houston from Shell Oil Co. A leading American energy company dual-headquartered in Princeton, NJ and 1201 Fannin St. in downtown Houston, NRG will completely inhabit 18 floors within the 50-story, 1,228,923-square-foot, Class A high-rise finished in 1970 in Houston’s main enterprise zone.
The Jackson Walker, LLP group of Pat Sharkey and Amber Sheneman represented NRG Energy in settlements, while Joseph Peddie, Tim Relyea and Morgan Relyea Colt of Cushman & & Wakefield represented Shell Oil Co. By James Saris
Consumer Cellular Leases 164,000 SF at I-17 Office Center
Customer Cellular rented the entire 163,607-square-foot office building located at 17500 N. Black Canyon Hwy in Phoenix, AZ.
. Built in 1987, the single-story office building is positioned on an 11.5-acre parcel in the Deer Valley/ Airport submarket of Maricopa County, within the I-17 Workplace Center company park.
Ashley Brooks and James Bayles of CBRE represented the property manager, Everest Holdings LLC, in negotiations with the renter. By Matt Mendoza
TriHealth Indications for +106,000 SF of Office at Baldwin Center
TriHealth has < a href=" http://www.costar.com/News/Article/TriHealth-Signs-for-+106000-SF-of-Office-Space-at-Baldwin-Center/193517" target=" _ blank” > signed a three-year lease for 106,223 square feet within the Baldwin Workplaces at 625 Eden Park Dr. in Cincinnati, OH.
The locally-based unified health system will completely occupy the first flooring in addition to the sixth through 12th floorings at the 12-story tower, which totals 209,955 square feet at 625 Eden Park Dr. within the Baldwin Center in Cincinnati’s Clifton/Midtown submarket. TriHealth’s lease is set up to commence in the second quarter of 2018, according to CoStar information.
Douglas Altemuehle, Darin Armbruster and John Rubin of Newmark Knight Frank, in collaboration with in-house rep Rob Murphy of Neyer Residence, represented the proprietor in settlements. By Ummama Bashir
University of Kansas Health center Preleases Proposed Office Bldg. in Overland Park
The University of Kansas Healthcare facility has signed a lease to completely occupy a 75,000-square-foot office building pertaining to the Highlands Corporate School in Overland Park, KS.
Found at 10710 Nall Ave., the four-story building will be built just north of I-435 in the College Blvd. submarket of south Kansas City.
Douglas E. Weltner of Colliers International represented the landlord in this deal. By Connor Martz
UWorld Leases 50,000 SF at Brand name New Spec Advancement in Cypress Waters
UWorld will move this January from its area at 545 E. John Carpenter Fwy. in Irving, TX to 50,000 square feet at the brand new 9111 Cypress Waters Blvd. building in Cypress Waters.
The leader in online practice question banks signed a lease to occupy the third floor of the 217,000-square-foot, four-story office complex, which delivered earlier this year as the latest speculative task within the 1,000-acre Cypress Waters development.
Dallas-based Billingsley Co. developed and owns the Great Fulton & & Farrell Architects-designed residential or commercial property. Clay Vaughn and David Glasscock of CBRE handled settlements on behalf of UWorld. By John Semaie
GCP Signs Vallen Circulation to 10-Year Office Renewal in Belmont
Graham Commercial Residence (GCP), an industrial property financial investment, advancement and management company headquartered in Birmingham, AL, has signed leading industrial provider Vallen Distribution to a 10-year extension for the company’s 42,000-square-foot office space at 2100 Oaks Pky. in Belmont, NC.
Concurrent with the renewal, GCP disclosed strategies to separate the 42,000-square-foot workplace component and 83,213-square-foot storage facility element into 2 separate leases. By Shae Yeager
Sageworks Inks Deal at Brand New 104,000-SF Office Development in Raleigh
This January, Sageworks will have a brand name brand-new 33,885-square-foot office in Raleigh, NC following news the monetary analysis solutions company signed a lease to inhabit the leading flooring of Rule Real estate Partners and PGIM Real Estate’s Wade IV job slated to deliver early next month in west Raleigh.
The104,071-square-foot, four-story office job broke ground last September on an entirely speculative basis at 5444 Wade Park Blvd. minutes from I-40, the Wade Ave. road and the campus of NC State University.
Avison Young’s Arnold Siegmun and Carlo DiGiorgio represented the landlord in negotiations, while Dave Bodart of Kennedy Advisors represented Sageworks. By Vicente Garces
The Marketing Shop Expands HQ at 55 W. Monroe
The Marketing Shop finalized a deal with structure owner John Hancock Life Insurance Co. to broaden the business’s corporate headquarters at 55 W. Monroe St. to 35,955 square feet.
The customer engagement agency combined a number of rural places back in 2013 to establish its corporate headquarters at 55 W. Monroe, a 965,500-square-foot, 40-story tower completed in 1981 in Chicago’s Central Loop. The expansion increases The Marketing Store’s existence in 55 W. Monroe by 15% and provides the firm occupancy of the 13th and 15th floorings.
Andrea Saewitz of Cushman & & Wakefield represented John Hancock Life Insurance coverage Co. in settlements, while Robert Sevim and Joe Learner of Savills Studley worked out the expansion for The Marketing Shop. By Kyle O’Connor
Envision Healthcare Leases 26,000 SF in Burton Hills III
Envision Health care < a href=" http://www.costar.com/News/Article/Envision-Healthcare-Leases-26000-SF-in-Burton-Hills-III/194136" target=" _ blank” > signed a five-year lease for 26,000 square feet in the Burton Hills III office complex at 20 Burton Hills Blvd. in Nashville, TN.
Envision’s lease includes the whole 4th flooring and a portion of the fifth in the 109,390-square-foot building.
Costs Adair of JLL represented the proprietor. Thomas Harwell of Eakin Partners represented the occupant. By Ryan Sompayrac
SouthernSun Leases 20,000 SF in Memphis
SouthernSun Possession Management, an investment management firm, signed a 10-year workplace lease for 20,000 square feet in the Hickman Structure at 240 Madison Ave. in Memphis, TN.
Integrated in 1926, the eight-story building overalls 99,159 square feet in downtown Memphis. In 2005 it was purchased by Walk-Off Properties LLC, and major restorations are anticipated to be completed in August 2018.
Stuart Harris of Walk-Off Residence LLC represented the property manager in-house. By Zach Hernandez
CityWorth Home loan Leases 19,872 SF in Fairfax
CityWorth Home loan, a direct home loan lender, < a href=" http://www.costar.com/News/Article/CityWorth-Mortgage-Leases-19872-SF-in-Fairfax/194071" target=" _ blank” > signed a seven-year lease for 19,872 square feet in the office building at 12015 Lee Jackson Memorial Hwy/ in Fairfax, VA.
. The eight-story structure overalls 153,256 square feet in the Greenwood office park. CityWorth Home mortgage will occupy the entire 7th floor and is expected to move into the space in December.
Brian Connolly, Yorke Allen and Brent Mathis of JLL represented the proprietor, while Norman Corkhill of Potomac Realty Partners represented CityWorth Home loan. By Gebar Hagos
Tiffany & & Co. Leases 17,000 SF in Chelsea
Tiffany & & Co. < a href =" http://www.costar.com/News/Article/Tiffany-Co-Leases-17000-SF-in-Chelsea/194126" target=" _ blank" > leased 16,909 square feet in the office complex at 53 W. 23rd St. in New York City.
The 12-story, 230,000-square-foot office complex was originally constructed in 1915 on one-third of an acre in the Chelsea submarket of Manhattan. The prominent jewelry company will take tenancy of the whole seventh flooring.
Greg Taubin with Savills Studley represented Tiffany & & Co. James Buslik, Alan Bonett and Brad Cohn with Adams & & Business Real Estate LLC represented the landlord in-house. By Daniel Griffin
Mass Mutual Leases 14,000 SF in Clark Tower
Mass Mutual Life Insurance coverage Company signed a 10-year office lease for 14,486 square feet in the Clark Tower office complex at 5100 Poplar Ave. in Memphis, TN.
The 34-story building totals 668,505 square feet. It provided in 1973 on 8.9 acres in the East submarket of Shelby County, and underwent remodellings in 2007. Mass Mutual will take tenancy of its space in the 4th quarter of 2017.
Ron Riley and Laura Taylor of Colliers Management Solutions LLC represented the proprietor, In-Rel Properties. Barry Maynard of Loeb Characteristic, Inc. and Jacob Biddle of Avison Young represented the occupant in lease settlements. By Jennifer Jones
Outfront Media Leases 13,000 SF in Phoenix
Leading outdoor marketing company Outfront Media, formerly CBS Outdoor, < a href =" http://www.costar.com/News/Article/Outfront-Media-Leases-13000-SF-in-Phoenix/194088" target=" _ blank" > rented 13,187 square feet in the Biltmore Center I building situated at 2390 E. Camelback Rd. in Phoenix, AZ.
. The 211,624-square-foot office complex is positioned on a 2.7-acre parcel in Maricopa County. The renter is slated for Fourth quarter 2017 tenancy.
Ryan Timpani and Phillip Breidenbach of Colliers International represented the proprietor. By Matt Mendoza
BDO U.S.A Inks Deal for New 12,000-SF Office in Downtown SLC
BDO U.S.A, LLP, a Chicago-based accounting and advisory organization and the United States member company of global accounting network BDO International, settled a deal to open a new 12,183-square-foot office in the Wells Fargo Center in downtown Salt Lake City, UT.
BDO’s moving follows 4 years of unprecedented growth for the company, which because span more than doubled its profits from $683 million in 2013 to $1.41 billion in 2017, according to BDO assurance office managing partner Matt McReynolds. The company will inhabit the 10th floor in Wells Fargo Center with a move-in slated for next quarter.
Collin Perkins of Newmark Grubb ACRES represented BDO in this deal. By Elizabeth Nutt