Wrap-Up of Largest Reported Office Leases Include Offers by Third Point, Service Express, NEC and more
Anthem(NYSE: ANTM)will scale up its operations in Midtown Atlanta considerably following news the Indianapolis-based medical insurance company signed a lease for a brand-new 352,000-square-foot innovation center set up to break ground next year in Tech
Square. Atlanta-based Portman Holdings will develop the custom-made 21-story build-to-suit at the corner of Fourth and W. Peachtree Streets in the burgeoning Tech Square development hub home to research study centers, incubators, innovation start-ups and the school of Georgia Tech. Construction on Anthem’s new Midtown Atlanta complex is anticipated to begin in January with a delivery date scheduled for early 2020.
David DiPietro, Kelly Givens and Liron Nelik of Savills Studley worked out the lease on behalf of Anthem, while Travis Garland of Portman Management Co. represented ownership in-house. By Bryce Meyers
Third Point Taking Top 3 Floorings of 55 Hudson Yards
Third Point LLC, New York-based, employee-owned hedge fund sponsor, signed a 10-year lease for 75,064 square feet on the leading three floors at 55 Hudson Yards in New York City. The 51-story, in-development workplace tower belongs of Associated Business’ Hudson Yards development. It amounts to 1.5 million square feet and is slated for shipment in early 2018. The building was developed by Kohn Pedersen Fox in collaboration with Kevin Roche John Dinkeloo and Associates. Other notable occupants that have signed leases in the structure include Intercept Pharmaceuticals, Silver Lake Management Co. and Point 72 Asset Management.
Alexander Chudnoff and Dan Turkewitz of JLL represented Third Point. Howard Fiddle, Robert Alexander and Emily Jones of CBRE represented the property owner together with Related’s in-house brokers Stephen Winter and Andrew Cantor. By Andrea Quach
Service Express Leases 60,361 SF in Grand Rapids’ Lakeside Bldg.
. Service Express Inc., a locally-based information center upkeep company, signed a lease for 60,361 square feet in the Lakeside Building at 3855 Stimulates Dr. SE in Grand Rapids, MI.
Completed in 1987, the two-story office building amounts to 79,234 square feet in the East Paris Plaza Office Park. Service Express will inhabit 39,617 square feet on the very first flooring and 20,744 square feet on the second floor.
Nate Scherpenisse and Blake Rosekrans of CBRE dealt with settlements on behalf of the owner, Gates Prime Commercial Group. By Andrea Lester
NEC Moving Corporate Offices to Downers Grove
NEC Display Solutions of America will transfer its head office to 47,714 square feet within the Esplanade at Locust Pointe in Downers Grove, IL.
NEC, a technology business and a leading designer and provider of display screens such as LCD screens, is planning to increase its exposure by expanding from its 40,000-square-foot headquarters in Itasca, IL to Esplanade V, a 164,000-square-foot, seven-story office building located at 3250 Lacey Rd. The space will include, as soon as built-out, a 6,000-square-foot innovation display and demonstration center together with a 5,000-square-foot research and development lab.
Chad Freese, Paul Diederich, Matthew Frazee and Jon Springer of the CBRE Chicago represented NEC in negotiations. David Andrews and Philip Sheridan brokered the offer internal for Hamilton Partners. By Derek Babb
GS1 Preleases 44,000 SF at 300 PrincetonSouth in Ewing
GS1, a service info requirements organization locateded in Lawrenceville, has pre-leased 44,000 square feet in the 300 PrincetonSouth office complex at 300 Princeton South Corporate Ctr in Ewing, NJ.
The proposed three-story structure will amount to approximately 97,405 square feet when it provides in early 2020. Opus East LLC prepares to break ground on the property in the next month.
Aubrey Haines and Sab Russo of Mercer Oak Realty LLC represented property owner in the five-year handle the renter. By Laura Richwine
AAD Sells Schaumburg HQ, Leases New Area in O’Hare Entrance Center
Citing its proximity to O’Hare Airport and access to higher mass transit options, The American Academy of Dermatology (AAD) has sold its world headquarters at 930 W. Woodfield Rd. in Schaumburg, IL and will move its head offices to 41,459 square feet at the O’Hare Gateway Center in Rosemont, IL
. The Emergency Nurses Association (ENA) paid a concealed amount for the 44,000-square-foot, two-story office complex that for the last 15 years has actually acted as the home office of the AAD. The American expert company that represents emergency situation nursing, ENA strategies to move its head offices from its presently owned structure at 915 Lee St. in Des Plaines, IL to its broadened location next year.
As part of the arrangement, the AAD will enter into a brief leaseback for 930 W. Woodfield to allow the company to develop out its new area at the O’Hare Entrance Center prior to its scheduled move-in this April. The plan will likewise afford the ENA additional time to draw up its designs for the just recently obtained residential or commercial property.
Peggy McTigue and Paul Diederich of CBRE worked out the sale of 930 W. Woodfield and subsequent lease at O’Hare Gateway Center on behalf of AAD.
Terry Mostrom, Jon Azulay and Robert Sevim of Savills Studley represented ENA in its acquisition of 930 W. Woodfield, while Dan Vachula and Jim Ward of Cushman & & Wakefield represented ownership in the lease at O’Hare Gateway Center. By Abisola Osho
Garden of Life Signs HQ Lease Renewal, Growth at Business Center at the Gardens
Garden of Life has restored its 27,958-square-foot lease and expanded into a overall of 36,096 square feet in the Business Center at the Gardens office complex located at 4200 Northcorp Pky in Palm Beach Gardens, FL.
Garden of Life is a science-based, whole-food dietary supplement manufacturer with more than 250 top quality supplements. Its renewal brings the Corporate Center at the Gardens to completely leased, with Oxford Global Resources, Olympus Insurance Provider and Weiss Research study, Inc. also calling the center house.
Anthony Librizzi with Cushman & & Wakefield represented the property manager in lease negotiations. Kevin Probel and Kevin McCarthy with CBRE represented the renter. By Paul Owers
USI Insurance Svcs Leases 34,000 SF at 261 Madison
Insurance coverage brokerage and consulting company USI Insurance Services has consented to lease 34,080 square feet of office space at 261 Madison Ave. in New York City as a direct renter.
USI’s brand-new direct lease is for the whole 5th flooring and a part of the 6th flooring of the structure. It will use this area for its regional workplaces and will also house the insurance coverage brokerage business of Wells Fargo, which USI recently acquired. The insurance provider’s original sublease expires November 2017.
David Itzkowitz and Jack Keesser with Cushman & & Wakefield represented USI in lease negotiations. By Diana Bell
Spring Bank Pharmaceuticals Moving Headquarters to Elmwood Park
Spring Bank Pharmaceuticals (NYSE: SBPH) signed a 125-month lease for 29,483 square feet at 35 Parkwood Dr. in Hopkinton, MA where the clinical-stage biopharmaceutical business will develop its headquarters and primary lab area.
Spring Bank will relocate from Milford, MA in spring 2018 to the 159,795-square-foot, three-story office building that formerly housed the head office of EMC Corp. Completed in 188 and renovated in 1996, the home lies within Elmwood Park near I-495.
Bill Lynch, Kevin Brawley, and Stephen Woelfel represented Spring Bank Pharmaceuticals in settlements, while Victor Galvani brokered the offer internal for SVN Parsons. By Allison Quinn-Redding
Jail Designer, Operator Leases 25,000 SF Near New HQ
The GEO Group, a real estate financial investment trust focusing on prison development and operations, has signed a lease for 24,914 square feet at Tower 1 in the Boca Village Corporate
Center situated in Boca Raton, FL. The firm is developing a new home offices on a nearby website at 621 NW 53rd St. in Boca Raton, and will utilize the rented area for additional workplaces. GEO anticipates to move to the brand-new area in January.
John Criddle and Joseph Freitas with Cushman & & Wakefield represented the property owner, AGS Characteristics Corp., an entity connected to BVCC Corp. of Miami. Jay Whelchel of Whelchel Partners represented GEO. By Paul Owers
Knotel Leases 24,000 SF for Flagship Site at 5-9 Union Square
Knotel, a company that provides custom-made head office space to scaling businesses, has signed a 10-year lease arrangement to inhabit approximately 24,000 square feet of space spanning two floorings at 5 – 9 Union Sq. W in New York City City.
Knotel was founded in Union Square, at the nearby 33 W. 17th St., but the space at 5-9 will represent its flagship place. The company, which presently runs 20 places throughout Manhattan, 2 in Brooklyn and one on in San Francisco’s Mission Street, plans to expand to 40 areas by 2018.
Newmark Knight Frank represented Knotel as a tenant in its lease, while GFP Property handled lease negotiations internal on the property side. By Diana Bell
Accenture Concerning JBG’s Central Location Development in Rosslyn
Accenture (NYSE: ACN)will join Corporate Executive Board (NYSE: CEB)at the company’s new head office building in Arlington, VA after accepting a lease with The JBG Cos. for 23,180 square feet at CEB Tower. The Dublin, Ireland-based global management consulting and expert services company will take the 24th flooring of the 31-story, 552,781-square-foot office complex being established at 1201 Wilson Blvd. in Rosslyn.
Slated to deliver in January, the CEB Tower is being developed as part of JBG’s Central Place task, a fully-entitled mixed-use advancement situated above the Rosslyn Metro Station. At full build-out, the job will also incorporate a 377-unit multifamily complex and 45,000 square feet of street-level retail space.
Jill Goubeaux, Terry Reiley and Caroline Bour of CBRE represented The JBG Cos. in negotiations. By Gebar Hagos
Axinn Veltrop Restores 23,000-SF Lease in Hartford
Axinn Veltrop, a Connecticut-based law firm, has restored its office lease for 22,823 square feet in the State House Square structure at 90 State House Sq. in Hartford, CT.
. The 14-story building overalls 379,914 square feet. Axinn Veltrop’s lease consists of much of the 9th flooring.
Cammeby’s Management owns the structure and handled the direct deal in-house. By Matthew Hamburger
Meritage Residences Leases 22,000 SF in Houston
Meritage Residences of Texas has rented 22,032 square feet at 3250 Briarpark Dr. in Houston, TX.
The 199,800-square-foot office building was constructed in 1998 within the Reserve at Westchase in west Houston.
Neil Elliott and André Granello of Cresa represented the occupant. David Baker and Jack Scharnberg of Transwestern represented the property manager. By Julian Thompson
Shook, Hardy & & Bacon Relocating Long Time D.C. Workplaces to 1800 K St.
After nearly Twenty Years in Penn Quarter, Kansas City-based law firm Shook, Hardy & & Bacon has reached a deal to transfer its Washington, D.C. workplaces from 1155 F St. to RREEF Management’s just recently renovated Class An office building at 1800 K St. NW.
Shook, Hardy & & Bacon, which opened its D.C. workplaces at 1155 F St. NW in 1999, will occupy 17,174 square feet throughout the 10th floor at 1800 K St. NW when its existing lease ends in 2019.
Scott Frankel, Mark Klug, DJ Callahan and Emily Slingluff of CBRE represented RREEF Management in negotiations. By Daniel Koenigs
Caine Weiner Leases 17,000 SF in Sherman Oaks
Caine & & Weiner, a national accounts receivable management company, leased 17,000 square feet at 5805 Sepulveda Blvd. in Sherman Oaks, CA.
The eight-story building totals 87,418 square feet and was built in 1990. Other tenants include Enterprise Fleet Management and Aflac, Inc.
. Bruce Frasco of Commercial Asset Group (CAG) and Stacy Vierheilig-Fraser of Charles Dunn Business, Inc. represented the proprietor. Ron Wade of CBRE represented the renter. By Lily Mcclure
HCB Health Restores HQ Lease in Austin Centre
Austin-based HCB Health will maintain its downtown head office after the independent health care advertising and marketing firm agreed to a 15,470-square-foot renewal at the Austin Centre.
MB Property represented HCB Health in negotiations, while Edvin Beasley and Scott Deskins of Stream Real estate Partners represented Sidra Property. By April Hawthorne