Weekly Wrap-Up of Largest Reported Workplace Leases Include: Blue Sky Studios, Booz Allen Hamilton, Guardian Life Insurance coverage, Illinois Tool Functions and more
Heavy equipment producer Caterpillar Inc. (NYSE: CAT) announced Wednesday it will move to Chicago’s suburbs, choosing to move its global head office to the northern Chicago residential area of Deerfield over numerous downtown choices after more than 90 years being based in the heart of the state in Peoria, IL. Caterpillar reached a multi-year lease contract with Corporate 500 Centre, a four-building office campus on Lake Park Road totaling 700,000 square feet handled by Lincoln Property Co. for owner Baring Property Advisers. The business expects about 100 employees to relocate to the site this year, with roughly 300 individuals working at the website by mid-2018. Caterpillar had canceled strategies to build a brand-new head office in Peoria when it revealed Jan. 31 that it would find” a restricted group of senior executives and assistance functions” in the Chicago location, including positions from the Peoria location. Caterpillar CEO Jim Umpleby said that the business selected Deerfield, situated about 25 miles north of downtown Chicago, primarily because of its proximity to O’Hare International Airport and commuter train access to Chicago, achieving the business’s objective” to be more available to our international consumers, dealerships and workers.” By Randyl Drummer Blue Sky Studios Prepares 147,000-SF Renewal Celebrated animation shop, Blue Sky Studios, Inc., with credits in the Glacial epoch franchise and Peanuts motion picture, has restored its lease for 146,795 square feet in the Greenwich American Centre office complex at 1 American Ln. in Greenwich, CT. The occupant initially took tenancy of the 2nd and 3rd floorings of the four-story, 589,784-square-foot, 4-Star office complex back in 2009 when it relocated from White Plains, NY. The Academy Award-winning animation home will now remain in Greenwich through at least 2025. Jay Hruska of Cushman & Wakefield deals with office leasing for the property manager, a joint venture comprised of Tishman & Speyer and National Pension Service of Korea( NPS). By Bradford Hussey Booz Allen Hamilton Inks Long-Term Renewal and Expansion at Metro Park VI Booz Allen Hamilton( NYSE: BAH) has signed a renewal and expansion that will increase the Tysons Corner, VA-based management consulting firm’s existence at City Park VI in Alexandria, VA to 117,206 square feet. Considering that early 2012, Booz Allen Hamilton has actually occupied 87,885 square feet across the very first, 5th, 6th and seventh floors of City Park VI, a 331,174-square-foot, 12-story office complex completed in late 2011 at 6361 Walker Ln. in northern Virginia’s MetroPark. The company will continue to inhabit this area along with an extra 29,321 square feet on the eighth flooring beginning in June. Peter Berk, Dave Millard, and Nick Gregorios of Avison Young represented the proprietor, Clarion Partners, in the transaction, while Cathy Delcoco and
Donna Gravely of CBRE represented Booz Allen Hamilton. By Holden Brayboy Guardian Life Insurance coverage Leases 90,000 SF at Bell Functions Workplace School The Guardian Life Insurance coverage of America, a life insurance coverage provider presently headquartered in downtown Manhattan, signed a 15-year workplace lease for 90,000 square feet in the Bell Functions Office Building at 101 Crawford Corner Rd. in Holmdel, NJ. The five-story office complex totals 1.2 million square feet of workplace on the Bell Functions school. Guardian’s lease includes the entire 5th floor and a part of the 4th. Tara Keating and
Kyle Mahoney of The Garibaldi Group represented Somerset Development in lease settlements. Timothy Greiner and Jamie Ragucci with Newmark Grubb Knight Frank represented the occupant along
with Fischer & Company of Dallas, TX. By Kevin Carder Illinois Tool Functions, Prism HR Indication Leases in Hopkinton Two occupants leased a total of 70,000 square feet in the office building at 35 Parkwood Dr. in Hopkinton, MA. Illinois Tool Functions, a varied manufacturer of specialized commercial devices, leased approximately 44,000 square feet, while Prism HR took approximately 26,000 square feet. Victor Galvani of SVN Parsons Commercial Group Boston supplied in-house representation for the owner. By LaShawnda Sharp National Student Clearinghouse Signs Renewal, Growth at Dulles Station West National Trainee Clearinghouse( NSC), a degree, enrollment confirmation and trainee education not-for-profit, has restored its 31,339-square-foot lease at 2300 Dulles Station Blvd. in Herndon, VA for 17 years. Additionally, NSC reached a deal with building owner Regents of the University of California to take an additional 3,894 square feet at the residential or commercial property in a relocation that improves the organization’s footprint to 35,233 square feet. Tom Cresce of JLL represented the property manager in the offer. By Sean Freeman Henry Schein Leases Nearly 26,000 SF at Park
rented 25,599 square feet of workplace at Park Springs Place in Arlington, TX. The four-story office complex delivered in 1986 at 4025 Woodland Park Blvd. just off W. Leader Pky. in the Arlington/Mansfield submarket. It amounts to 88,186 square feet and was acquired by Cedar Rapids, IA-based AEGON USA Real estate Advisors in 2014.
Jason Miller and Michael W. Spain of Bradford Commercial Property Providers represented the renter. Kurt Cherry and Shae Byers of PM Realty Group LP represented building owner, AEGON U.S.A Realty Advisors. By David Jubar InvenTrust Properties Moving Head Workplaces to Downers Grove InvenTrust Properties Corp. finalized a deal to move its corporate headquarters to the Highland Landmark II structure at 3025 Highland Pky.
in Downers Grove, IL. The retail realty investment trust will move its head offices this summer from 2809 Butterfield Rd. in Oak Brook, IL to 22,000 square feet at the 284,278-square-foot, eight-story Highland Landmark II structure. Jeffrey Mann and Josh Robbins of CBRE represented the property owner, while Jon Springer and Gary Fazzio, also of CBRE, represented InvenTrust. By Landon Cox TEP Barnett U.S.A
Subleases 20,752 SF at 777 Main TEP Barnett U.S.A, an oil and gas exploration and production business, subleased 20,752 square feet on the 37th floor at 777 Main St. in downtown Fort Worth, TX. The 40-story structure tower 1,025,260 square feet and was integrated in 1982. Erik Blais and Nick Talley of Bradford Commercial represented the sublandlord, Trinity River Energy, in negotiations.
By James Lutz MCCI Expands in San Antonio with New Offer MCCI Medical Group, a healthcare
service provider and subsidiary to Humana, expanded its footprint
in San Antonio with the signing of a lease for 20,000-square-foot lease at 711 Navarro St. in San Antonio, TX. The eight-story building totals 160,000 square feet and is named Travis Park Plaza. The property was
bought in 2015 by GrayStreet Partners in 2015, which also deals with leasing and home management for the possession, according to CoStar information. James Sykes with GrayStreet Realty Advisors represented the proprietor, while Niles Chumney with King William Realty represented MCCI. By Ben Harris DLC Mgmt Signs 20,000-SF Office Lease in Elmsford DLC Management Corp., an owner/operator of al fresco shopping centers in 21 states, has rented 19,533 square feet in the office building at 565 Taxter Rd. in Elmsford, NY. Keystone got 565 Taxter from Mack-Cali Realty Corp. in a portfolio sale of 6 structures for an aggregate$ 91.5 million($ 116 PSF) in August 2014, according to CoStar data.
See CoStar COMPS # 3098288 William Cuddy, Jacqueline Novotny and Mike McCall of CBRE represented the property owner in lease negotiations. By Chris UlrichFathom Indications 14,000-SF Workplace Sublease at
Riata Corporate Park Fathom Water
Management, Inc., a leading software-as-a-service company for water utilities, subleased 14,053 square feet at 12357-C Riata Trace Pky. in Austin. Finished in 2000, the three-story structure totals 92,719 square feet within Riata Corporate Park, a 688,432-square-foot, eight-building office school situated on 52 acres in northwest Austin’s Innovation Corridor. Carl Condon, Mark Harris and Mike Kennedy of Avison Young represented the occupant.
Andy Carlson and Travis Rogers of JLL represented the landlord. By John Luoma Wells Fargo Indications Lease at Virginia Beach’s Sidney Kellam Workplace Bldg. Wells Fargo House Home mortgage signed a five-year lease for 13,656 square feet at the Sidney Kellam Office complex located at 300 32nd St. in Virginia Beach, VA. The 61,980-square-foot, five-story office complex was built in 2013 along Pacific Ave.
in Virginia Beach’s Oceanfront submarket. John P. Duffy, Jr., CCIM, SIOR of Cushman & Wakefield Thalhimer represented Wells Fargo, while Sam Rapoport, John Profilet and Stephanie Sanker of S.L. Nusbaum Realty Co. represented the property manager. By Christopher Reed Oak River Insurance coverage Leases 12,161 SF in East Sacramento Oak River Insurance coverage Co., an Omaha, NE-based insurance company under the Berkshire Hathaway umbrella, signed a 102-month lease for 12,161 square feet at 3301 C St. in Sacramento, CA. The 404,000-square-foot, single-story office building was constructed in 1928 near to the Capital City Freeway and
Hwy 80 in East Sacramento’s Cannery Service Park. The property underwent remodellings in 1986, inning accordance with CoStar details. Greg Levi of JLL represented the property manager, while Lisa Stanley of CBRE represented the occupant. By Lorna Dorfman Lithium to Open Workplace in Intercontinental Real Estate’s Northpoint Center San Francisco-based software application provider Lithium Technologies will open a new area in Austin after settling a lease with Boston-based Intercontinental Property Corp.
for 12,069 square feet within Northpoint Center. The business will take tenancy at 6850 Austin Center Blvd., a three-story, 74,322-square-foot office complex finished in 1985 simply off Mopac Blvd. in Austin’s Northwest submarket. The property sold to Intercontinental Realty in January 2008, inning accordance with CoStar information. Chrissy Fuller with Avison Young represented Lithium. David Stojanik with The Kucera Cos. represented Intercontinental Property. By Ben Harris LogicMonitor Leases 10,000 SF at New 29-Story Office Development in Downtown Austin LogicMonitor, Inc, a SaaS performance tracking platform based from Santa Barbara, CA, of signed a 10,135-square-foot deal at 500 W Second St., the largest Class An office tower presently under building and construction in Austin. The 29-story, 500,512-square-foot high-rise broke ground in early 2015 as part of a master-planned mixed-use development in Austin’s central business district. It is arranged to deliver later on this year. Chrissy Fuller and Mark Harris of Avison Young represented LogicMonitor in negotiations, while Troy
Holme, Casey Ford and Katie Ekstrom of CBRE represented ownership. By John Luoma