Tag Archives: workplace

CXP Puts Dry Powder to Deal with +$ 1 Billion in Workplace Purchases

Well-off JV Partner Assists Columbia Reorient Towards Top U.S. Markets

After a peaceful very first half of 2017, Columbia Property Trust, Inc. (NYSE: CXP) has fired off more than$1 billion in acquisitions considering that the July 4 holiday including a flurry of offers for buildings in New york city City and Washington, D.C. amounting to $935 million, the company announced Wednesday.

In early July, Atlanta-based Columbia acquired an almost 50% interest in a workplace tower at 114 Fifth Ave. in Manhattan as part of a joint endeavor with German insurance company Allianz SE. Early Wednesday, the partnership closed a $421 million offer to purchase the 10-story, 580,930-square-foot 1800 M St. NW structure from PGIM in the biggest workplace sale finished in Washington, D.C. since early 2015.

By Wednesday afternoon, Columbia had also revealed the purchase of 3 structures in New York City’s Chelsea submarket, two adjacent office buildings totaling 281,294 square feet at 245-249 West 17th St. and the 165,670-square-foot residential or commercial property at 218 West 18th St., from New york city REIT (NYSE: NYRT) for a combined $514 million.

The purchase of the Midtown South homes, which is not connected with the Allianz JV, increases Columbia’s profile in New York City to 7 properties amounting to 2.6 million square feet, representing 44% of CXP’s overall portfolio.

Columbia President and CEO Nelson Mills said this week the buy from New York REIT “further establish Columbia as a considerable gamer in Manhattan’s most dynamic workplace district.”

Just a few weeks back at the EisnerAmper’s Global Real Estate Leaders Summit, nevertheless, Mills characterized New York City workplace financial investment activity as sluggish, with tight yields and workplace REITs being “hammered” compared to West Coast trusts.

Mills is not alone in his evaluation of the New york city transaction market. At another recent conference, NYRT executives kept in mind that the purchaser pool is not as deep in recent months, particularly for larger possessions, with a broadening spread in between asking and bidding costs.

Other experts, however, have actually kept in mind in recent days that recent transactions recommend an uptick in activity after a summer season downturn.

There’s no scarcity of capital seeking deals. Today, independently held L&L Holding Co. and an institutional financier encouraged by J.P. Morgan Property Management revealed the formation of a $500 million collaboration supplying approximately $4 billion in purchasing power to for acquisition and development in NYC. L&L is developing 425 Park Ave., the first full-block workplace tower to increase on the renowned boulevard in half a century.

While Allianz isn’t really involved in the Manhattan offer, Columbia CEO Mills in late July proclaimed the $1.27 billion joint venture as a chance to increase CXP’s market existence in core markets without the need to issue equity or raise debt.

“The value of this joint venture works out beyond these instant benefits,” Mills stated at the business’s second-earnings conference call. “We now have a partner that is active in our markets, has a long-term financial investment focus and has a shared vision for exactly what our technique can provide.”

Today’s purchases, rumored in regional media reports for numerous weeks, validate Columbia’s substantial capital war chest through the Allianz endeavor and by itself account, inning accordance with Mitch Germain, REIT expert with JMP Securities. The deals allow the company to expand in New York City and D.C. by scooping up just recently remodelled properties with strong money streams backed by long-term leases, Germain said.

Columbia’s new entirely owned assets in the Huge Apple have a well-regarded lineup of occupants that include Red Bull, Twitter and Microsoft. The JV’s acquisition of the well-leased 1800 M St. office building in the District’s Golden Triangle, with the sponsorship of Allianz, offers a value-add opportunity, not to point out the ability to hedge the risk of Washington’s presently shaky market principles, Germain included.

Furthermore, the transformation of CXP’s portfolio following more than $2 billion in dispositions in Houston and Cleveland given that the start of 2015 is now complete, with more than 90% of the business’s income now streaming from New York, D.C. and San Francisco, where the venture with Allianz owns 333 Market St. and University Circle in Palo Alto.

Workplace Lease Up (September 25) Facebook Takes 436,000 SF in San Francisco'' s Largest Office Lease Considering that 2014

Weekly Wrap-Up of Largest Reported Office Leases Include Deals by Ally Financial, Alexion Pharmaceuticals, AQR, Fox TELEVISION Stations and more

Facebook, Inc. has leased all 436,000 square feet of office at designer Jay Paul’s 181 Fremont St., a 70-story workplace tower under construction in downtown San Francisco across from the Transbay Transit Center.

The social networks giant rented the space for about $80 per square foot and will occupy the entire workplace part of the 802-foot-tall building, situated less than a block from Salesforce Tower, the city’s highest skyscraper.

The lease, which was initially reported by the San Francisco Business Times, is Facebook’s first significant lease in San Francisco and can accommodate up to 3,000 employees. The Menlo Park, CA-based business has hunted the San Francisco market for a number of years searching for a location to assist relieve commutes for workers who reside in the city.

JLL’s Zé Figueirinhas represented Facebook in the offer, while Karl Baldauf and Lauren Whitlock of Newmark Cornish & & Carey represented the designer Jay Paul. By Randyl Drummer

Ally Financial to Integrate Operations in New Charlotte Workplace Tower

Crescent Communities will start building early next year on a long-planned, 26-story workplace tower at 601 S. Tryon St. in Charlotte after signing Ally Financial Inc. (NYSE:
ALLY) to a lease covering roughly 400,000 square feet in the proposed building. The contract will allow Ally to combine its Charlotte-area operations and approximately 1,700 location

workers within the 742,000-square-foot office building set to deliver in early 2021. The Detroit-based monetary services business presently rents 3 different office locations in Charlotte’s Uptown, Ballantyne and SouthPark locations. The brand-new workplace task, to be renamed Ally Charlotte Center, will be found in the Stonewall Passage, an area south of the city that has recently experienced fast development with a number of new residential and business advancement tasks. JLL brokers bookended both ends of the deal with Chase Monroe and Chris Schaaf representing Ally Financial and Charley Leavitt and Barry Fabyan representing Crescent Communities in the lease settlements. By CoStar News Personnel Alexion Pharmaceuticals ‘150,000-SF HQ Lease Brings 121 Seaport Job to Complete Occupancy A second major workplace lease at Skanska’s 421,320-square-foot, 17-story workplace high-rise slated to provide early next year at 121 Seaport Blvd. in Boston’s Seaport

District has actually brought the elliptical-shaped tower to full occupancy. Alexion Pharmaceuticals
settled an offer that will see the global biopharmaceutical relocate its corporate offices from New Haven, CT to 150,000 square feet across the 3rd through 8th floorings of 121 Seaport start in June 2018. William Anderson and David Martel of Newmark Knight Frank represented Skanska in settlements, while John Boyle and William Foley of Cushman & Wakefield represented Alexion Pharmaceuticals in the deal.

By Allison Quinn-Redding AQR Leases 86,000 SF in Greenwich AQR, an international financial investment management company, has signed a lease for 86,117 square feet in the office complex at 1 Greenwich Plz in Greenwich, CT. . The four-story office building amounts to 180,464 square feet in the Greenwich Plaza business park.

The residential or commercial property delivered in 1969. Other renters consist of Aristeia Capital LLC and JD Capital Management LLC. Ed Tonnessen of JLL represented the proprietor, Albert B. Ashforth, Inc. By Matthew Hamburger Fox Television Stations

Moving Studios, Workplaces to Downtown Bethesda Fox Tv Stations relayed some news of its own after divulging the media group will move from northwest Washington, D.C. to Carr Characteristic’ 937,000-square-foot mixed-use advancement being built at 7272 Wisconsin Ave. in downtown Bethesda, MD. Fox, will move approximately 200 staff members to 7272 Wisconsin where the organization will construct out 57,500 square feet of news studio, newsroom and office space. The media group expects to move into its brand-new space in June 2021. Washington, D.C.-based Carr Properties paid$ 105.5 million to the American Society of Health-System Pharmacists (ASHP) last May to acquire the former Apex Building with the intent to redevelop the 164,119-square-foot, four-story office complex into a 9370,000-square-foot mixed-use complex to include workplace, residential and retail area. The office component is slated to begin in the very first quarter of 2018. By Bryce Meyers Medifast Leases 51,000 SF at Legg Mason Tower for New Business Head office Medifast will have a brand-new corporate headquarters by year-end after the leading producer and supplier of medically proven healthy living items and programs settled a deal to inhabit 51,000 square feet at Legg Mason Tower in downtown Baltimore’s Inner Harbor. Medifast, which has actually run in Baltimore City for nearly 40 years, will shift more than 160 staff members from its existing offices in Owings Mill, MD to the 17th and 18th floorings within the 24-story, 613,006-square-foot Legg Mason Tower over the coming months. The business, which will keep its manufacturing center and related personnel in Owings Mill, anticipates to complete its move by the end of the year. Legg Mason Tower was built in 2009 as part of the Harbor East advancement that includes the Four Seasons Hotel and Residences and a 1,150-car, five-story parking structure. The structure acts as the global headquarters for Legg Mason, as well as houses offices for OneMain Financial Group, Johns Hopkins and RSM McGladrey LLP, among others. By Jeanine Kaminski WeWork Picks The Workplaces at Clearfork for First Fort Worth Area WeWork, the quickly expanding co-working and shared office provider headquartered out of New York City, has signed a lease for its very first location in Fort Worth, TX. The company will establish 44,000 square feet of co-working workplace at 5049 Edwards Ranch Rd., a brand-new 80,891-square-foot, four-story office building completed this previous January within the Offices at Clearfork in southwest Fort Worth. WeWork plans to relocate January 2018. Cannon Camp with JLL represented the landlord, Cassco Development, in negotiations. By Jeannie Reamer State of California Leases 43,311 SF in Sacramento The State of California leased 43,311 square feet of area at 2251 Harvard St. in Sacramento, CA. Referred to as Building 2, the property at 2251
Harvard St. delivered in 1988 as part of the Harvard Park Corporate Center in Sacramento’s Point West area. The government company is expected to move in during the first quarter of 2018. Tom Heacox and Kirk Lange of Newmark Cornish & Carey represented the

property manager, Basin Street Residences, in this new offer. By Felicia Weinstein BCG Finalizes 40,000-SF Offer at 100 Peachtree for Site of New Business Providers Center The Boston Consulting Group( BCG )has chosen 100 Peachtree in downtown Atlanta for the site of its brand-new organisation services center. The international management consulting company disclosed back in June it had picked Atlanta for the future site of a brand-new workplace- its 3rd in the city -which would create more than 200 additional tasks in Atlanta with the potential to spawn more than 500 jobs over the company’s lease term. After performing a citywide search, BCG would pick 100 Peachtree, noting its main place and access to a varied labor force. Scott DeMyer, C. Deming Fish and Reeves Henritze of Collier International, in cooperation with internal agents Mark Vollbrecht and David R.B. Anderson, managed settlements on behalf of Zeller Realty

Group, while Mark Vollbrecht and David E.B. Anderson of Avison Young brokered the lease for BCG. By Brian Martin Zoom Communications Takes 30,502 SF in Denver Zoom Communications, a remote conferencing providers headquartered in San Jose, has signed a 30,502-square foot
lease at 7601 Technology Way in Denver. The seven-story, 203,492-square-foot office building was constructed in 1999 in the Denver Tech Center. Zoom will occupy the third flooring, joining Jackson National Life Insurance coverage in the building. Lee Diamond of CBRE represented the renter, while Douglas Wulf and Dan

Miller of Cushman & Wakefield represented the property manager. By Raul Lozoya Duff & Phelps Leases 28,000 SF in Morristown Duff & Phelps, an independent consultant, signed a 10-year office lease for 27,922 square feet in the Headquarters Plaza East Tower workplace & structure at 2 Speedwell Ave. in Morristown, NJ. The 12-story building totals 181,500 square feet and was built in 1982. Richard Mirliss of Colliers International represented the renter. Robert Donnelly, Jr. and Ben Breneer of Cushman & Wakefield represented the

property owner. By Ladi Sanu SL Green Indications Two Lease Amendments at Graybar Bldg.

Prominent litigation defense company Litchfield Cavo LLP has actually restored its 18,275-square-foot lease and expanded into an & additional 8,346 square feet in the Graybar Structure at 420 Lexington Ave. in New york city City, bringing its overall occupancy
there
to 26,639 square feet through 2027. In a different deal, the Home entertainment Software application Association has extended its lease term through 2022 while relocating within the building to a 10,774-square-foot space. Adam Weissleder led the internal leasing team at SL Green in both transactions. Michael Burlant of Cushman & Wakefield represented Litchfield Cavo, and Michael Morris of Newmark Knight Frank represented Entertainment Software in lease settlements. By Justin Sumner Chicago Housing Authority

to Set Up Shop in Big Red. The Chicago Housing Authority rented 26,179 square feet at 333 S. Wabash Ave. in downtown Chicago. The organization is expected to occupy its area in late 2019. The governmental agency known for developing neighborhoods throughout the Chicago area will occupy six full floorings in the 1.2 million-square-foot, 45-story East Loop tower known as Big Red, which for the last 45 years has functioned as the head office of CNA Financial (NYSE: CNA ). Jon Cordell and William Rolander of Newmark Knight Frank represented the proprietor in protecting the offer. By Derek Babb Textio Preleases 22,000 SF at Seattle’s Madison Centre. Textio preleased 22,400 square feet of office onthe 23rd

floor of the in-development Madison Centre office building at 505 Madison St. in Seattle, WA. Scheduled for completion later on this year, the 36-story, 764,000-square-foot office complex is situated in Seattle’s CBD submarket. Oscar Oliveira and Damon McCartney of Broderick Group, Inc. represented the proprietor. Brian Hayden of Flinn Ferguson Corporate RE represented Textio. By Elizabeth Davis Industrious Leases 20,000 SF in Madison. Industrious, a co-working office company,< a href=http://

” http://www.costar.com/News/Article/Industrious-Leases-20000-SF-in-Madison/194226″ target=” _ blank” > signed a lease for 20,000 square feet in the office building at 25 W. Main St. in

Madison, WI.

The eight-story structure overalls 198,000 square feet and
was built in 1963. The office building is currently under remodelling and anticipated to be completed by

completion of this fall. Industrious will occupy the entire fifth floor, signing up with other occupants in the building consist of Old National Bank and Stroud Willink & Howard. Chase Brieman and Gretchen Lins of CBRE represented Industrious. Mark Binkowski with Urban Land Interests represented the property owner in-house. By Stephanie Vega Outerstuff Leases 16,000 SF in Clark

. Outerstuff LTD, a designer and manufacturer of kids’s sports clothing,< a href=" http://www.costar.com/News/Article/Outerstuff-Leases-16000-SF-in-Clark/194306" target

=” _ blank” > signed a 10-year lease for 16,000 square feet in the office complex situated at 60 Walnut Ave. in Clark, NJ. The four-story structure totals 46,000 square feet. The property was provided in 1986 and features conference centers

and a fitness center. With the most recent offer, an expansion for Outerstuff within the structure, the asset is now fully rented. David Zimmel of Zimmel Associates represented the proprietor, TAK Real estate and Financial investment LLC. By Sahara Gross Arizona Mining Signs 15,000-SF Lease in Tucson.

Arizona Mining has leased 14,500 square feet at the Fort Lowell Professional Workplaces building situated at 2210 E. Fort Lowell Rd. in Tucson, AZ. The 14,500-square-foot single occupant office complex was constructed in 2006 on a 40,000-square-foot lot in the Central Tucson submarket of Pima County. Rick Kleiner of Cushman & Wakefield

| Picor represented the proprietor. Isaac Figueroa, also with Cushman & Wakefield|Picor, represented the occupant. By James Young Sensiba San Filippo Restores

Lease in San Jose’s City & Plaza. Accounting and service advisory company Sensiba San Filippo has & renewed its lease for 12,611 square feet on the fourth floor of 181 Metro Plaza, a 130,562-square-foot, seven-story office complex situated within the City Plaza workplace park in San Jose. Dion Campisi and Mark Triska of Colliers International, together with Mike Copeland of Cushman & Wakefield, represented the tenant. Susan Gregory, Mike Rosendin and Sean Toomey of Colliers International represented the owner, Hudson Pacific Properties. By Nick Bell Bio Haven Pharmaceuticals Leases 11,000 SF in New Sanctuary. Bio Sanctuary & Pharmaceuticals, a clinical-stage biopharmaceutical company, signed a 10-year lease for 11,008 square

feet in the office building at 215 Church St. in New Haven, CT. Frank Micali of Netz
USA LLC/ Capitalize 360 Group LLC represented the proprietor in-house. By Matthew Hamburger

Facebook Takes 436,000 SF in San Francisco'' s Largest Workplace Lease Considering that 2014

Social network Giant Moving Instagram App Unit into New Building Under Building by Jay Paul at 181 Fremont

Facebook, Inc. has rented all 436,000 square feet of workplace at developer Jay Paul’s 181 Fremont St., a 70-story workplace tower under building in downtown San Francisco throughout from the Transbay Transit Center.

The social media giant rented the space for about $80 per square foot and will occupy the entire workplace part of the 802-foot-tall structure, situated less than a block from Salesforce Tower, the city’s tallest skyscraper.

The lease, which was initially reported by the San Francisco Organisation Times, is Facebook’s first major lease in San Francisco and can accommodate as much as 3,000 staff members. The Menlo Park, CA-based business has scouted the mSan Francisco market for a number of years searching for a location to assist reduce commutes for staff members who reside in the city.

Facebook’s Instagram picture app department will initially to move into the structure, slated for conclusion by the end of this year. Last month the business exposed plans for a corporate school in the 56-acre Menlo Science & & Technology Park near its current head office, which it acquired in 2015.

JLL’s Zé Figueirinhas represented Facebook in the deal while Karl Baldauf and Lauren Whitlock of Newmark Cornish & & Carey represented the designer Jay Paul.

Licensed Research study Expert Eric Kies added to this report.

Rockpoint Group Takes Pasadena Workplace Bldg for $162 Million

Private-Equity Company Pays Two times What Saunders Residential or commercial property Co.Paid in Early 2014 Prior to Major Repositioning

Boston-based private-equity company Rockpoint Group acquired the 12-story AT&T Building at 177 E. Colorado Blvd. from Saunders Residential or commercial property Co. for $161.5 million, or about $538 per square foot.

The 300,000-square-foot office building, finished in 1973 as the local head office of Pacific Bell, cost roughly twice the $81 million that Saunders paid AT&T in April 2014. The telecommunications giant rented back 40% of the home and Saunders rented the remaining vacant space to 10 new tenants following a $30 million renovation, consisting of tenant improvements.

Occupants consist of mutual fund manager Primecap Management, iRobot and co-working provider WeWork, which inhabits two full floorings. Other significant renters consist of wealth management firm Clifford Swan Investment Counselors and Pardee Houses. The building is about 89% rented, according to CoStar information.

Eastdil Guaranteed represented both Rockpoint and Saunders in the transaction.

“The Saunders team repositioned a tired telephone company building into the leading workplace address in Pasadena,” said Eastdil Handling Director Stephen Somer in a release. “This residential or commercial property brought in interest from many of the leading institutional investors in the country however it was Rockpoint that was able to put the acquisition together.”

Workplace Lease Up (September 18) NRG to Substantially Broaden Existence in Downtown Houston with 400,000-SF Sublease at One Shell Plaza

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

Workplace Lease Up (September 11) PTC Sets Sail for Boston'' s Seaport District with 250,000-SF HQ Lease

Wrap-Up of Largest Reported Workplace Leases Include Offers by Western Union, United Health care, Zymergen, McCain Foods and more

PTC (NYSE: PTC) is visited Boston’s Seaport District after the leading worldwide tech firm settled a deal with Skanska< a href=" http://www.costar.com/News/Article/PTC-Sets-Sail-for-Bostons-Seaport-District-with-250000-SF-HQ-Lease/194008" target =” _ blank “> to occupy 250,000 square feet at 121 Seaport Blvd. for its

home office. The computer system software and services company will move more than 1,000 employees from its Needham, MA offices to the leading half of 121 Seaport, a 421,320-square-foot, 17-story, elliptical-shaped tower that began in mid-2015 and has been lauded for its special style and sustainability functions.

The very first renter to sign on at the project, PTC accepted an 18-year lease that is scheduled to begin January 1, 2019 and run through June 30, 2037. Representatives with Cresa negotiated the lease on behalf of PTC, while Newmark Knight Frank handled negotiations for Skanska. By Sean Matthews

Western Union Leases 246,500 SF at Belleview Station for New Corporate HQ

Western Union (NYSE: MU) has finished a handle Prime West Cos. to relocate its corporate headquarters to 246,500 square feet at One Belleview Station in Denver. The American monetary services and interactions business will move next November from Meridian, CO to the leading eight floors and the sixth floor of the 15-story, 318,000-square-foot One Belleview building, which provided this past April at 7001 E. Belleview Ave. in the Denver Tech Center. Ryan Stout and Nate Bradley of Cushman & Wakefield represented Prime West Cos. in negotiations. By Raul Lozoya United Health care Leases 93,000 SF in The Corridors

Among the biggest handled healthcare companies in the United States has reached an offer to lease 92,727 square feet within The Passages workplace park in Downers Grove, IL. Minnetonka, MN-based United HealthCare( NYSE: UNH) will occupy theuninhabited 3rd, fourth and 5th floorings of Corridors Two, a 149,896-square-foot, five-story office building completed in 1999 at 2655 Warrenville Rd. in west Chicago’s Eastern East/West Passage. The company is set up to take tenancy of its new space in February 2018.

Fred Ishler and Joe Stevens of Transwestern represented SoundView in settlements, while Robert Sevim of Savills Studley represented the occupant in this transaction. By Rita Iseghohi

Biotech Start-up Zymergen Expanding Within Emery Bay Offices, Leases 83,000-SF Bay Center B.

Zymergen, a genes biotech business, is broadening its footprint within the Emery Bay Workplaces park in Emeryville, CA after inking a deal to completely inhabit the 83,620-square-foot office complex at 6455 Christie Ave.

The Bay Area start-up, which late in 2015 protected $130 million in Series B financing from Softbank, will completely occupy Building B presently the home of Novartis Vaccines & & Diagnostics. Inning accordance with CoStar information, Zymergen is expected to take occupancy of its brand-new space in early 2019.

Newmark Cornish & & Carey handled settlements on behalf of Zymergen. Aileen Dolby and Ken Meyersieck of Colliers International represented the landlords, a joint venture comprised of Harvest Residences and Principle Real Estate Investors. By John Walz

McCain Foods Signs 67,422-SF Lease at Oakbrook Terrace Tower.

McCain Foods, a frozen food maker,
signed a 15-year lease for 67,422 square feet in the Oakbrook Terrace Tower at 1 Tower Ln. in Oakbrook, IL.

The 31-story office complex totals 792,192 square feet in Chicago’s Eastern East/West Corridor submarket. Established by The Beitler Co. in 1987, the property is currently owned by The Blackstone Group, which got the Class A structure in 2015 as part of a $3.3 billion portfolio acquisition.

John Ziesmer of Avison Young represented McCain Foods in lease settlements, while John Clark, Rob Lundin and John Norris of Newmark Knight Frank represented ownership. By Christopher Pressley

Torre Lazur McCann Leases 65,000 SF in Parsippany.

Torre Lazur McCann, a healthcare communications firm,
< a href =" http://www.costar.com/News/Article/Torre-Lazur-McCann-Leases-65000-SF-in-Parsippany/193728" target=" _ blank" > rented 65,000 square feet of workplace at 3 Sylvan Method Parsippany, NJ.

The three-story building overalls 158,011 square feet in the Mack-Cali Service Campus. Integrated in 1988, the residential or commercial property was offered to the Mack-Cali Real estate Corporation in 2015, which finished remodelling on the building earlier this year.

David Stifelman and Chris Conklin of JLL represented the proprietor. By Antonio Ferguson

Bank of America Expands Footprint at Century Plaza in San Jose.

Bank of America (NYSE: BAC) has settled a deal with Grosvenor Americas to combine and expand its operations into more than 60,000 square feet within Century Plaza in San Jose, CA. The Charlotte-based international banking and monetary services organization has run its local head office from Century Plaza II for the last 14 years. The corporation, which over the last 2 years has revealed plans for comparable debt consolidations, will broaden from the first floor into the 3rd, 5th and 6th floorings on an offer that is arranged to start in November. Chris Gow and Anthony Guglielmi of JLL represented Bank of America in settlements, while Erik Hallgrimson and Steve Horton of Cushman & Wakefield

brokered the lease for Grosvenor. By John Walz Delta Dental Filling 43,000 SF at 560 Mission for New HQ. A little more than a month after consenting to & a different 82,000-square-foot lease in downtown Oakland, Delta Dental has signed a seven-year lease for 43,400 square feet at the J.P. Morgan Chase tower in San Francisco’s South Financial District where the oral benefits insurance company will move its corporate headquarters. For the last Thirty Years Delta Dental has actually been locateded across the street at 100 First St. That will change in mid-2018 when the business moves its head workplaces to the 12th and 13th floors of the 684,321-square-foot, 31-story tower at 560 Objective St. Mark McGranahan of Cushman & Wakefield represented the tenant; while Thomas Poggi and Angus Scott of CBRE represented ownership. By Eric Kies CBS Radio Broadcasts 28,000-SF Renewal at Colony Square. CBS Radio aired some news of its own after consenting to a long-lasting lease renewal for its 28,000-square-foot space at 400 Colony Square
in Midtown Atlanta. The lease precedes a comprehensive renovation effort slated to start this fall at Colony Square, a mixed-use advancement situated at the corner of Peachtree and 14th Streets that consists of 720,000 square feet of office space, residential apartments, the 467-room W Atlanta Midtown and the 163,000-square-foot The Square at Nest retail center. Andy Sumlin, Sonia Winfield and Laura Power of Cushman & Wakefield brokered the lease on behalf of ownership, a joint venture comprised of North American Residences and Lionstone Investments. Sam Hollis and Ken Ashley, likewise of Cushman & Wakefield, represented CBS Radio.

By Natalie Silady Sterling Bay Indications Very first Occupant at Fulton Market District Project. Chicago-based realty investment and advancement business Sterling Bay has secured its first occupant at the business’s 210 N. Carpenter task in Chicago’s Fulton Market District. Leopardo Cos., among the biggest construction companies in the United States, will relocate its Chicago workplace from 333 W. Wacker Dr. to 24,000 square feet at the 12-story, 200,000-square-foot office building Sterling Bay is establishing just west of I-90/ I-94 and the CTA-Morgan station. Not just is Leopardo the very first tenant to sign on at the project, the company has likewise been contracted to build 210 N. Carpenter with the ground-breaking having occurred earlier this month. Leopardo anticipates to relocate to its expanded area following the building’s conclusion in fall 2018. Renae Bradshaw, Eric Feinberg and Robert Sevim of Savills Studley represented Leopardo in settlements. By Abisola Osho Consuming Recovery Center Signs 11-Year Lease at One East Erie. Eating Recovery Center, a health company known for focusing on supplying extensive eating condition treatments for people, leased 22,891 square feet in the One East Erie tower at 1 E. Erie St. in Chicago. The 51-story high-rise totals 1,259,220 square feet near Chicago & State Park, Water Tower Park and Connors Park in Chicago’s North Michigan Opportunity submarket. Jordan Decker and Liz Osborne of Cushman & Wakefield represented Consuming Healing Center. Barbara Schenberg, Teddy Walsh and Jack McKinney, likewise of Cushman & Wakefield, represented owners DRA Advisors and M&J Wilkow. By Antonio Wood Cooperative credit union National Association Inks Deal

in Navy Backyard. The Cooperative credit union National Association, the largest trade association in the United States that serves the United States’ credit unions, signed a lease to inhabit the entire third flooring at Skanska’s 99 M St. SE building set up to provide this March. Occupying 22,143 square feet, the company will join PYXERA Global and CIRCA as occupants in the new 234,000-square-foot, 11-story
building SCD Acquisitions is developing one block north of Nationals Park and one block west of the Navy Lawn City Station. Lincoln Home Co.’s John Marvin Jones, Elaine Clancy, Adam Biberaj and Doug McLearn represented Skanska in this deal. By Michael Harvey WGL Energy Takes Ninth Flooring in Westwood City Tower. WGL Energy, a varied energy company offering gas and electrical services, leased an extra 19,464 square feet in the Class An office complex at 8614 Westwood Center Dr. in Vienna, VA. The company will expand from its top floor space on to the

ninth floor starting January 1, 2018. Spencer Stouffer and Caroline Collins of Cushman & Wakefield represented the proprietors, MRP Real estate and Rockpoint Group, in negotiations. By Julianne Kapelka Firley, Moran, Freer & Eassa CPA, PC Takes 18,000 SF at Barclay Damon Tower in Downtown Syracuse. Firley, Moran, Freer & Eassa Certified Public Accountant, PC has signed a lease to relocate its area workplaces to 18,767 square feet within Barclay Damon Tower in downtown Syracuse.

A leading licensed public accounting firm in Upstate & New York, Firley, Moran, Freer & Eassa CPA, PC will shift its offices from 5010 Campuswood Dr. in East Syracuse’s Leader Park to the entire 7th and a part of the ninth floor of Barclay Damon Tower, a 14-story &, 130,000-square-foot high-rise finished in 1972 at 125 E. Jefferson St. Mike Durkin of CBD Brokerage represented both the property manager and renter. By Phil Dawit NPD Group Leases 18,000 SF at 31 Penn Plaza. NPD Group, Inc., a global market research firm, leased 17,712 square feet at 132 W. 31st St. & in New york city City. Adam McCostlin, Chris Wood, David Mainthow, Jonathan Schindler and Aron Schreier of Cushman & Wakefield represented NPD in lease negotiations. Matt Astrachan, Mitch Konsker and Adam Haber of JLL represented the proprietor, Vanbarton Group. By Alex Ern Knotel Leases 18,000 SF in Times Square. Knotel, Inc., a shared workplace service provider,< a href =" http://www.costar.com/News/Article/Knotel-Leases-18000-SF-in-Times-Square/193962 ” target =” _ blank” > signed a lease for 17,560 square feet at the

9 Times Square office building situated at 200 W. 41st St. in New York City. David Falk, Eric & Cagner, Jason Greenstein and Matthew Siegel of Newmark Knight Frank represented the property owner. Gabriel Marans of Savills Studley represented the tenant. By Andrea Quach

Workplace Lease Up (August 28) TSA Lastly Lands New HQ Site, Will Get 625,000-SF Build-to-Suit in Springfield

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

Workplace Properties in Prime Suburban Districts are Getting a Review

As CBD Workplace Rates Increase, Financiers Search for Better Yields in ‘Urban-Style’ Suburban Properties

Renewed interest in emerging suburbs is prompting such projects as Brandywine Realty Trust's 111,000-square-foot office building in King of Prussia, PA, the first new office delivery in the submarket in almost a decade.
Restored interest in emerging suburban areas is prompting such projects as Brandywine Realty Trust’s 111,000-square-foot office building in King of Prussia, PA, the first brand-new workplace shipment in the submarket in nearly a years. Suburban workplace markets with emerging’ urban-style’ live-work environments and great transport access are acquiring increasing cachet amongst financiers and cost-conscious office users, according to a brand-new study of the country’s 25 largest rural markets by CBRE Group, Inc. As workplace costs and rental rates rise in the country’s CBDs, particular “urban-suburban” districts may offer investors chances at lower prices, according to CBRE, keeping in mind examples in rural Silicon Valley’s Palo Alto, the New Jersey waterside as well as Philadelphia residential area King of Prussia.

CBRE’s analysis found that office tenancy rates and asking leas in these urban-suburban districts are usually on par with surrounding rural markets, but received a disproportionate share of renter need and building and construction activity. In more than half of the cases studied by CBRE, rents in these rural submarkets actually outshined homes in some rival downtown locations.

” Alternatively, emerging urban-suburban markets offer financiers and occupiers with longer-term methods an opportunity to protect area in up-and-coming areas while there are still choices to select from and purchase prices and leas are more economical,” noted Andrea Cross, CBRE Americas head.

CoStar research confirmed that, while city districts usually surpassed their suburban counterparts in occupancy, lease growth, and prices previously in the cycle, prime rural submarkets now appear to provide higher development potential.

” These submarkets include institutional-quality item however have yet to tape-record the same level of lease growth, and subsequently, the pricing levels seen in CBDs and secondary downtown,” according to CoStar Portfolio Method analysts Paul Leonard and Marcos Pareto in a recent white paper evaluating the performance of CBD and suburban office markets.

Prime rural districts are much better positioned to carry out over the long term than other suburban areas due to remarkable demographics and specific area benefits, such as access to significant highway interchanges, Leonard and Pareto said.

” Investors trying to find the next chance in the office market need to consider expanding their financial investment target zone beyond the metropolitan core and into the suburban areas,” the CoStar experts said. “Nevertheless, it is crucial that the investor first choose the best market.”

Avison Young, in its Mid-Year 2017 The United States and Canada and Europe Office Market Report, also picked up on the pattern in both the United States and Canada of occupants’ unique preference for transit-oriented advancement (TOD), the emergence of suburban markets with a sense of place as their own metropolitan centers, and the continued development of co-working and flexible-office-space operators.

” This year we saw co-working and versatile spaces gain market share and we are tracking their impact on workplace leasing conditions,” stated Earl Webb, Avison Young’s president, U.S. operations. “Landlords are reacting to these trends by retrofitting common areas to include tenant facilities and social-gathering areas.”

Lower Rents, Occupancy Bring Growth Prospective

According to CBRE’s brand-new report, emerging urban-suburban submarkets averaged 15.3% vacancy as of first-quarter 2017, compared to 13.8% for established districts. Rents in these emerging submarkets have yet to go beyond the total suburban average and are significantly lower than leas in more established urban-suburban submarkets.

In simply over half the marketplaces, nevertheless, the average weighted lease for recognized submarkets was really higher than downtown leas, consisting of Philadelphia, where the average established rent surpassed CBD rents by more than 10%.

Such emerging submarkets as the stretching King of Prussia/Valley Forge location, traditionally known only for its 2.9 million-square-foot King of Prussia Shopping center owned by Simon Home Group, are seeing a burst of rural mixed-use “place making” efforts and build-to-suit office building.

In an example pointed out in the report, Brandywine Realty Trust previously this summertime opened a 111,000-square-foot, four-story office complex at 933 First St., the very first brand-new workplace delivery in King of Prussia in almost a decade. The built-to-suit job generally occupied by medical insurance program supplier Highway to Health complements such projects as the recently provided King of Prussia Town Center.

A flurry of owner-user purchases were reported in the first half of 2017 and more under agreement, according to JLL research analyst Gina Lavery.

While overall leasing activity has actually continued to be flat throughout the market, a few noteworthy occupant relocations helped support fundamentals in the Philadelphia residential areas. For example, Vertex Pharmaceuticals expanded to 180,000 square feet at 2301 Renaissance in King of Prussia.

“Rural tenants need well-located, top quality workplaces to bring in talent,” Lavery stated. “King of Prussia offers that with its proximity to new residential and retail hotspots.”

Silicon Valley Has Suburbs?

On the other side of the country, more than 650,000 square feet of office is under way in Palo Alto, CA, a tony suburban area of San Jose in the Silicon Valley. About half of that is the Innovation Curve Technology Park, a four-building project in the Stanford Research study Park under advancement by Sand Hill Residential or commercial property Co. The buildings, a sweeping series of curves, peaks and valleys designed by Form4 Architecture, are slated to be completed over the next year.

About 70 miles east of Silicon Valley in the Roseville submarket of Sacramento, Adventist Health is building a 242,000-squiare-foot, five-story office complex slated for shipment next summer.

In the Minneapolis city’s rural St. Paul submarket, dairy supplier Land O’Lakes is constructing a 155,000-square-foot expansion of its campus in Arden Hill, MN, a task slated for early 2018 delivery.

In Sacramento, Minneapolis/St. Paul, and other metros such as Kansas City and Austin, urban-suburban submarkets represent virtually all rural workplace under construction. On balance, nevertheless, the amount of brand-new office building and construction under method in urban-suburban submarkets is slightly greater than its share of stock.

Workplace Starts Surge on Strength, Stability of United States Workplace Market at Midyear

Developers, Investors Continue to Advance Office Projects Regardless of Slowing Growth in Rent

Shorenstein Realty Services is building the 24-story City Center in Oakland, one of the hottest office submarkets in the country.
Shorenstein Realty Solutions is constructing the 24-story Town hall in Oakland, among the hottest workplace submarkets in the country. U.S. workplace designers added 38 million square feet of new workplace in the first six months of 2017, nearly 10 %more than the exact same duration in 2015, and building starts are recently kicking into overdrive. More than 144 million square feet of workplace product was under

building and construction throughout the U.S. at midyear 2017. By the end of the year, CoStar is projecting the United States office stock will increase by almost 90 million square feet, a brand-new high for the present cycle. The heightened office construction levels are having an influence on workplace job and rental rates. U.S. office rent development in the office sector slowed across a majority of U.S. markets in the very first half, with year-over-year nationwide lease growth down considerably to 1.8% at midyear compared to 4.4% a year back, well listed below the 2015 peak of over 5%. CoStar projections that leas will tick down to 1.7% by the end of the year.

The United States workplace job rate, meanwhile, which held steady at a cyclical low of 10.2% in the 2nd quarter, will most likely wander as much as 10.4% by year’s end but the rate is expected to hold consistent despite the robust deliveries of new supply.

While new groundbreakings are beginning to slow over the last couple of quarter, CoStar building and construction information recommends that workplace construction activity is hardly abating; big jobs broke ground in numerous of the nation’s biggest metros throughout the 2nd quarter.

To show the market’s toughness and health, CoStar office analysts spotlighted numerous of the second quarter’s biggest brand-new building starts during the current CoStar State of the UNITED STATE, Office Market Q2 2017 Review and Forecast. Here are the highlights.One Jackson, Long Island City, NY While 6 of the 10 largest U.S. office projects presently under building and construction are at the World Trade Center, Hudson Yards and other areas of Manhattan, among the biggest tasks in the nation to begin during the 2nd quarter is across the Queensboro Bridge in the quickly growing Long Island City area.

One Jackson, a prepared 26-story, 550,000-square-foot office building at 28-01 Jackson Ave. in Long Island City, is part of a 1.1 million-square-foot mixed-use job that also consists of almost 2,000 domestic units and 13,000 square feet of retail.

In a tight office submarket with a job of simply 6.9% vacancy for the very best properties, the task by Tishman Speyer was already 72% leased at the start of the 3rd quarter in advance of its predicted 2018 conclusion, with such lead renters as Bloomingdale’s and WeWork.

Till this year, the Northwest Queens submarket had seen little workplace construction since the end of the economic crisis, but that has actually changed this year, with more than 1.4 million square feet under development.

” While there are a lot of jobs under way, there’s also a lot of demand,” noted CoStar Portfolio Method Managing Director Hans Nordby. “Tishman Speyer has actually done a masterful job with the preleasing and is truly developing an area there.”

CoStar Director of Research/Office Walter Page added that while most office complex include about 20% tenancy from the start of building through conclusion, “this residential or commercial property might come out of the gate at over 90% tenancy.”

Oakland Town hall, Oakland, CA On the opposite end of the nation from New york city City throughout the San Francisco-Oakland Bay Bridge, Shorenstein Realty Solutions is developing a 596,767-square-foot office job in Oakland, one of the most popular office submarkets in the country.

Construction of the 24-story tower at 601 Town hall shows how considerably rising rents in San Francisco have actually driven demand throughout the bay. The task at the northern end of Oakland’s monetary district, not arranged for delivery until January of 2019, is currently 33.6% leased in the tight downtown Oakland submarket.

” There’s a substantial delta in between Oakland and downtown San Francisco in terms of leas,” noted Page, adding that gross rents for City Center have to do with $64 per square foot, a substantial discount to properties in downtown San Francisco where new buildings are renting for $100 to $110 per square foot.

The task, with easy access to BART and surrounded by housing and features, is a natural fit for lead tenant Blue Shield, which wants to preserve a Bay Area existence and draw from the San Francisco labor pool however is more price delicate than much of the high-tech occupants demanding space in downtown San Francisco.

As more millennials start to form families, many will move out the Bay Location suburbs, and buildings like City Center located midway in between the external ‘burbs and San Francisco will likely carry out effectively, Nordby kept in mind.620 South Tryon, Charlotte, NC
The Charlotte workplace market is making rely on banking companies, as evidenced by Bank of America’s leasing of a brand-new building being constructed at 620 South Tryon Ave., the website of the now-demolished previous Charlotte Observer structure.

Goldman Sachs Group and Lincoln Harris broke ground on the 853,073-square-foot job, the very first office tower of more than 500,000 square feet built in Charlotte given that 2010, in early April, with completion set up in two years.

BofA, which is consolidating its area in 15,000 employees in Charlotte, has actually preleased 65% of the structure’s top floors, said CoStar Portfolio Method Managing Consultant Paul Leonard.800 Capitol St., Houston
Houston has taken its swellings as an outcome of the financial downturn brought on by the continuous plunge in energy prices, making the groundbreaking of a new 778,000-square-foot office building in the city’s CBD a genuine attention getter.

After all, the Houston CBD is laboring under a 15.7% job rate, with at least 9 existing Four- and Luxury buildings in the area offering 200,000 square feet or more in adjoining vacancy.

Bank of America has actually devoted to a large block of area, however, designer Skanska has preleased less than 30% of the structure set up for delivery in mid-2019. The discomfort from the oil bust is most likely to be a burden in the market for some time to come.

” A lot of product cycles last 7 to 10 years, and Houston is just three to 4 years into the current cycle,” Nordby said.

Even more, there are future strategies to refurbish 800 Bell St., ExxonMobil’s former head office, which might position additional leasing competitors for the Skanska project.

Workplace Lease Up (July 31) New York Presbyterian Medical facility Indications 500,000-SF Workplace Deal at Park Avenue Atrium

Wrap-Up of Largest Reported Office Leases Include Deals by The State Dept., Orange Lake Resorts, Thomas & & Betts, Dinsmore & & Shohl and more

New York City’s largest medical facility New York-Presbyterian Hospital has < a href=" http://www.costar.com/News/Article/New-York-Presbyterian-Hospital-Signs-500000-SF-Office-Deal-at-Park-Avenue-Atrium/192642" target =” _ blank “> signed a workplace deal to occupy practically 500,000 square feet in the Park Opportunity Atrium office complex at 237 Park Ave. (466 Lexington Ave.) in New york city, NY.

In order to provide the healthcare facility with certain tax advantages, the transaction was structured as a sale to the health center of a 30-year leasehold condo interest in a portion of the building amounting to 471,016 square feet, instead of a lease offer. The condo sale was valued at $250.87 million, or about $533 per square foot.

Meyer Last, Jennifer Yashar, Valerie Kelly, Simon Elkharrat and Benjamin Cohen with law practice Fried Frank acted as counsel to the landlord on the offer. Additionally, Fried Frank’s Joshua Mermelstein, Avi Feinberg, Alexander Sutherland and Vincenzo Sessa represented the company in its significant refinancing with Morgan Stanley and Societe General on the home loan protected by 237 Park Ave.

Paul Glickman, Mitchell Konsker, Cynthia Wasserberger and Daniel Turkewitz with JLL represented the property manager in settlements. John Cefaly and Michael Burgio with Cushman & & Wakefield represented New York-Presbyterian Healthcare facility. By Justin Sumner

State Dept. Indications Longterm Lease Renewal and Growth in Rosslyn

The U.S. Department of State restored its lease for the whole building at 1701 N. Fort Myer Dr. in Arlington, VA as well as took the remaining vacant area at the nearby 1200 Wilson Blvd. in an expansion. Both buildings are owned and run by Monday Characteristics.

The new lease term will be for 15 years and the State Department will inhabit near 343,000 square feet total in the two buildings. Both leases will begin at the previously scheduled lease expiration in the summer of 2019.

The State Department was represented by Santoni Graham and Gary Arabak of the GSA and Henry Chapman and Sara Dunstan of CBRE. Monday Characteristic was represented in home by Tim Helmig and John Wharton in addition to Joe Delogu and Chad Habeeb of FD Stonewater, which has an enduring relationship as Monday Properties’ GSA leasing advisor. By Christian Powell

Orange Lake Resorts Indications 240,000-SF BTS Office Lease

Tavistock Advancement Company, a varied realty company owned by Tavistock Group, has
signed a build-to-suit lease at its Infinity Park business school that will see Orange Lake Resorts, house of the Holiday Inn Club Vacations ® brand, establish a brand-new business campus that will house roughly 2,100 workers in two structures amounting to 240,000 square feet within the workplace park.

Orange Lake Resorts is expanding its existence at Infinity Park with an existing 115,000-square-foot structure established in 2013 at 9395 John Young Pky in Orlando, FL (imagined) and the production of a brand-new 125,000-square-foot structure. Construction of the new structure is set up to begin this fall and open in the fourth quarter of 2018. The project designer is Hunton Brady.

Jeff York of York Properties represented Orange Lake Resorts in the lease transaction. Scott Bell, who recently joined Tavistock Development team as director of Infinity Park, handles renting in-house at the school. By Justin Sumner

Thomas & & Betts Leases 155,000 SF in Ridgeway Center

Thomas & & Betts is
taking all 154,558 square feet that the Ridgeway Center office building at 860 Ridge Lake Blvd. in Memphis, TN needs to provide.

Thomas & & Betts manufactures electrical items that assist in the connection and transmission of electrical energy throughout the world. In 2012, Thomas & & Betts was gotten by ABB, a technology leader of industrial digitalization that operates in more than 100 countries. The occupant will take tenancy in April 2018.

Mark Halperin of Boyle Investment company represented the property owner in lease negotiations. By Ryan Sompayrac

Dinsmore & & Shohl Renews 138,408-SF HQ initially Financial Center in Downtown Cincinnati

Dinsmore & & Shohl has
reached a deal to preserve and expand its home office at the First Financial Center at 255 E. Fifth St. in downtown Cincinnati, OH.

The AmLaw 200 and National Law Journal 250 firm restored 138,408 square feet of workplace throughout eight floorings at the 553,659-square-foot, 32-story high-rise, and signed a lease for an extra 9,000 square feet on the 14th flooring.

Wayne Hach of Newmark Knight Frank represented the tenant. Dan Eifert of Hines represented the landlord. By Kevin Garber

Cooley to Move NY Head office to 55 Hudson Yards

Cooley LLP has
pre-leased 130,000 square feet at 55 Hudson Yards in Manhattan.

The global law practice will transfer its New York City headquarters to five floors at the top of 550 W. 34th St. when the building delivers in the first quarter of 2018. Cooley has 900 legal representatives throughout 12 offices in the U.S., China and Europe concentrating on complex IP, regulative matters and lawsuits.

Bob Alexander and Howard Fiddle with CBRE, along with Stephen Winter at Related, represented the landlord in lease negotiations. Moshe Sukenik, Aaron Katz, Patrick Nalls, Michael Shuler and Brian Cohen with Newmark Knight Frank (NKF) represented the occupant. By Justin Sumner

HSS Makes 99,000-SF Cut into Future Workplace Vacancy at 777 3rd Ave.

Nationally-renowned health care organization Health center for Unique Surgical treatment (HSS) has
signed a 98,600-square-foot direct workplace lease at 777 Third Ave. in New York City for non-medical administrative offices and general business operations.

The renter’s lease, covering the second through 5th floorings there, starts in July 2026 after the expiration of its existing sublease with Avon. Asking leas for the area were in the $70s per square foot variety.

Michael Lenchner with Sage Realty represented the proprietor, a joint-venture between WKO and The Travelers Companies, Inc., internal. Brian Given and Sheena Gobil with Colliers International represented the tenant. By Justin Sumner

GATX Becomes Most current to Move HQ to Willis Tower.

GATX, a Chicago-based devices finance company and one of the biggest railcar leasing companies in the world, accepted
relocate its head office to Chicago’s Willis Tower, renting approximately 88,080 square feet in the 110-story West Loop office tower at 233 S Wacker Dr.

GATX will occupy the entire 50th and 51st flooring and an extra 5,432 square feet on the 52nd floor.

Melissa Copley of Newmark Knight Frank represented GATX. Happiness Jordan and James Dix of the Telos Group represented the property owner, The Blackstone Group. By Derek Babb

TriZetto Leases 87,000 SF in Earth City.

TriZetto, a health care IT service provider and specialist,
leased 87,002 square feet in the 3300 Pointe 70 office building at 3300 Rider Trail S. in Earth City, MO. The 104,583-square-foot building was constructed in 1990 on 4.4 acres in the Earth City/ Riverport submarket of St. Louis County. TriZetto will be occupying most of the six-story structure’s top 5 floors.

Whitaker Varley of Vanderbilt Workplace Residence represented the property owner, a joint-venture in between Vanderbilt Partners, Trinity Capital Advisors and Starwood Capital Operations LLC, internal in direct settlements with the occupant. By John Stranahan

BCG Selects CIBC Square in Downtown Toronto for Future Canadian HQ.

The Boston Consulting Group (BCG) has
settled a deal to relocate its Canadian headquarters Ivanhoé Cambridge and Hines’ CIBC Square advancement in downtown Toronto. BCG, an international management consulting firm locateded in Boston, will establish its Canadian business workplaces in 85,000 square feet at 81 Bay St., a 49-story, 1.577 million-square-foot tower that began last month as Phase I of the venture’s 2.9 million square-foot Bay Park Centre advancement

in Toronto’s south core. Ivanhoé Cambridge and Hines began building on 81 Bay St. after reaching a lease agreement with the Canadian Imperial Bank of Commerce (TSX: CM) (” CIBC”) to anchor the job. By Nelufer Beebeejaun

Frontier Communications Extends Anchor Lease at Allen Office Center.

Stamford, CT-based telecommunications service provider Frontier Communications (NYSE:
FTR) finalized a deal with Gladstone Commercial Corp.( NYSE: GOOD) to extend its 83,662-square-foot lease at the Allen Office Center in Allen, TX for an extra 5 years and 10 months. Frontier Communications inhabits the entire second flooring and about 25,000 square feet on the very first floor of the two-story, 115,200 building. The extension will keep the company, which has occupied area in the structure considering that 2011, in its present area through September 30, 2028. By John Semaie Loan Servicing Co Leases 72,000 SF at Horsham Workplace Bldg. Bayview/ Lakeview Loan Servicing, a domestic and commercial home loan servicer concentrated on assisting house owners preserve ownership, has rented 72,381 square feet in the office building at 507 Prudential Rd. in Horsham, PA. The 100,710-square-foot building was constructed in 1988 by Lotz Real estate, Inc. and was refurbished in 2001. It rests on 6.2 acres in the Horsham/Willow Grove submarket of Montgomery County. Nelson Method and Robert Leu of Work area Home Trust represented the property manager, SAFANAD. Paul French and Patrick Brady of Avison Young represented the occupant in lease negotiations. By Lori Banks Momenta Pharmaceuticals Includes 52,000 SF in Cambridge. Momenta Pharmaceutical, a leader in the analysis, characterization, and design of complicated pharmaceutical products, signed a 10-year lease for 52,252 square feet of office and laboratory area at 301 Binney St. in Cambridge, MA. Momenta, which likewise occupies space in the basement and the first and 2nd floorings at neighboring 320 Bent St., will occupy space on the 4th floor of the 417,290-square-foot, five-story building, which provided in 2008 in the E. Cambridge/Kendall Square submarket. Eric Smith of Transwestern RBJ brokered the lease on behalf of the structure owner, Biomed Realty Trust. By Douglas Dunbar Meridian Lands Hogan Lovells for 44,517-SF Lease in Boro. The Meridian Group confirmed that law practice Hogan Lovells will relocate its Northern Virginia office to the brand-new Boro Tower, a 20-story office complex under construction in The Boro mixed-use advancement in Tysons. The law practice signed a lease for approximately 44,517 square feet in the new tower at 8350 Broad St. with an anticipated

conclusion date in the very first quarter of 2019. It will inhabit the whole 17th flooring and around 20,000 square feet on the 16th flooring, signing up with Tegna, Inc., which previously devoted to take the leading 3 floors in the new tower. Terry Reiley and Robert Faktorow of CBRE represented the Meridian Group. Rick Rome and Alexandra deVilliers of Savills-Studley represented

the renter. By Holden Brayboy Treatment Partners Leases 40,000 SF in Norwalk. Treatment Partners signed an eight-year workplace lease for 40,013 square feet in the office building at 800 Connecticut Ave. in Norwalk, CT. The five-story workplace totals 412,351 square feet is owned by CBRE Strategic Partners U.S. Worth 7, a fund sponsored by CBRE Global Investors. The technology and health care management business will take tenancy by year-end, signing up with companies like Priceline, Match Marketing Group and Hitachi Capital in the structure. David Block, Joseph Weaver and Steven Greenbush with CBRE represented the landlord. Nicholas DeLuca of NAI Signature Group represented the occupant. By Connor O’Brien Shoes For Crews Leases 37,000 SF in Boca Raton. Shoes For Teams, a worldwide leader in slip-resistant footwear,< a href="

http://www.costar.com/News/Article/Shoes-For-Crews-Leases-37000-SF-in-Boca-Raton/192635″ target=” _ blank” > signed a lease to transfer its headquarters from One Clearlake Centre in West Palm Beach to 5000 T Rex Ave. in Boca Raton, FL. The three-story building overalls 87,501 square feet at the Boca Raton Innovation Campus( BRIC), a 1.7 million-square-foot workplace campus established in 1970 by IBM on 123 acres in the Boca Raton North submarket. Kevin Landers with Cushman & Wakefield and Christopher Harak at Blanca Commercial Real Estate represented the occupant. Jeffrey Kelly with CBRE represented BRIC’s owner, Next Tier HD. By Sam Katz Honigman Miller Schwartz and Cohn LLP to Double Chicago Workplace. Honigman Miller Schwartz and Cohn LLP is set to nearly double its office in Chicago after the law office< a href=" http://www.costar.com/News/Article/Honigman-Miller-Schwartz-and-Cohn-LLP-to-Double-Chicago-Office-Space/192822" target =" _ blank ” > reached an offer for 28,077 square feet at 155 N. Wacker Dr.

The 46-story tower totals 1,152,953 square feet in the city’s West Loop. The John Dollar Co. developed the residential or commercial property in 2009 and is the present owner, inning accordance with CoStar information.

Nancy Pacher, Dave Mahoney and Jon Milonas of CBRE represented the occupant, while Melissa Rubenstein and Expense Rogers of JLL represented The John Buck Co. By Ross Peterson

Akerman Rented 25,000 SF at CalEdison DTLA to Accommodate Strategic Growth.

U.S. law firm Akerman LLP has taken 25,000 square feet of office in The CalEdison (DTLA) Building at 601 W. 5th St. in Los Angeles, CA to accommodate the company’s continued development in the region.

The Los Angeles team has grown to 30 lawyers and service specialists, more than doubling in size because 2015. The company will move from 14,000 square feet it presently leases at the nearby 725 S. Figueroa St. in downtown Los Angeles to its brand-new digs, representing an 80 percent expansion.

Matthew Cheezem, Maureen Hawley and Mike McRoskey with JLL represented Akerman in lease negotiations. Carle Pierose and Rob Erikson with Market Partners represented the proprietor, a joint-venture collaboration in between Lionstone Investments, London-based Hermes Property Financial investment Management Ltd., and Rising Realty Partners. By Justin Sumner

Optos Leases 23,000 SF of Office Space in Marlborough, MA.

Optos, a UK-based leading service provider of devices to eye care professionals,
signed a three-year lease for 23,209 square feet in the office complex at 500 Nickerson Rd. in Marlborough, MA.

Located in the Marlborough Innovation Park, the structure spans 82,423 square feet over two stories. The workplace complex was built in 1986 however went through a restoration in 2007; tenants now enjoy an on-site daycare center, hotel, and food service, according to CoStar information.

John Lashar, Mckenna Teague, Danielle Simbliaris and Alex Swan of Transwestern RBJ brokered this offer. By Allison Quinn-Redding

Alliant Leases 20,089 SF in The Falls at Sanctuary Park.

Alliant Insurance coverage Providers has
signed an eight-year lease for 20,089 square feet in The Falls at Sanctuary Park situated at 1125 Sanctuary Pky. in Alpharetta, GA.

. The five-story structure totals 231,294 square feet within Sanctuary Park. Established in 2003 by JLL, The Falls at Sanctuary Park is currently anchored by Hartford Financial Solutions and Microsoft.

LJ Wilhelmi and Jeff Heller of JLL represented Alliant Insurance coverage Solutions in settlements, while Jeff Bellamy and Adam Viente, likewise of JLL, represented the owner in-house. By Nina Guthrie

Magento Inks 22,000-SF Lease Within The Domain in North Austin.

Magento, Inc., a privately-held business offering the Magento open-source e-commerce platform,
signed a lease for 21,874 square feet at 11501 Domain Dr. in Austin, TX.

The two-story imaginative office building totals 179,000 square feet in The Domain mixed-use community. The property was developed in 2001 and lies in the heart of Austin’s tech passage.

Chrissy Fuller of Avison Young represented Magento. Anne Swift and Jonathan Tate of Undertaking Realty Group represented the landlord, TIER REIT. By John Luoma

Foundation Government Affairs Leases 14,810 SF at The Wharf.

Foundation Government Affairs, a Washington, DC – based lobbying firm,
rented 14,810 square feet in the Wharf’s 800 Maine Avenue SW in Washington, DC.

The 11-story office complex, which is set to open in October, 2017, totals 241,450 square feet and belongs to Hoffman-Madison massive $2 billion advancement on DC’s Southwest waterside. Foundation will move to the seventh floor of 800 Maine from its existing office in Capitol Hill in 2018.

Benjamin Plaisted and Mordecai Scott of Savills Studley represented Cornerstone Government Affairs. Brian Dawson, Amy Bowser and Trip Howell of JLL represented The Wharf’s master-developer, Hoffman-Madison. By Christopher Fano