Last Week’s Largest Workplace Leases also Include: Ameris Bank, Blackboard, Broadcom, Comverse, DoubleLine, Logitech, Mass Mutual, Medallion Financial, MedAssets, Mercantil Commercebank, Pandora, Sitel, Spanning Cloud, SurveyMonkey, Synovus, Verifi, and many more
Alexandria Realty Equities Inc. signed Pinterest, the growing image-sharing tech business, to a long-lasting full-building lease at the REIT’s brand-new 150,000-square-foot office development at 505 Brannan St. in San Francisco.
The 505 Brannan St. website is fully entitled under Proposal M, with Alexandria planning to start construction in early 2016 and wrap up in 2017. The new office development is a joint endeavor of Alexandria Property Equities and TMG Partners.
“We welcome Pinterest to its brand-new home in our SoMa/Mission Bay development cluster. 505 Brannan Street represents another meaningful extension and integration of Alexandria’s Mission Bay campus into the SoMa technology district, enhancing the crossway of 2 exceptionally innovative locations,” stated Joel Marcus, chairman, CEO and founder of Alexandria Real Estate Equities.
The six-story project has actually been developed to LEED Platinum requirements and will put Pinterest workers in close proximity to the new Fourth and Brannan Station that will certainly connect to BART and the Caltrain terminal. The structure is the 4th office development in a half-mile stretch in San Francisco’s South of Market location for Alexandria, which has established approximately 3.1 million square feet of office and laboratory area in the San Francisco region. By Noel Bigay
San Mateo Surveys Well for New SurveyMonkey HQ
SurveyMonkey will ship its head office out of Palo Alto after signing a lease to develop its corporate workplaces at the new Station 4 advancement at 3050 S. Delaware St. in San Mateo, CA.
The expanding online survey development cloud-based business moved into roughly 55,000 square feet just last March at 101 Lytton Ave. in downtown Palo Alto prior to concurring previously this week to take the whole 209,860-square-foot complex slated to deliver late next year in San Francisco’s San Mateo-Downtown South submarket.
The four-story Station 4 structure is located across from the Hillsdale Shopping Center on the corner of Delaware St. and 31st Ave. within Bay Meadows Station, an 83-acre master-planned metropolitan town that upon full build-out will include five office buildings totaling 763,000 square feet.
SurveyMonkey is scheduled to take tenancy in phases beginning in January 2017. Jack Troedson, Bob Garner, and Josh Rowell of Newmark Cornish & & Carey brokered the lease on behalf of Bay Meadows Station owners, Bay Meadows Land Co. and Stockbridge Realty Funds. Dave Hiebert and Colin Feichtmeir of DTZ handled negotiations on behalf of SurveyMonkey. By Enid Guerrero
Sitel Leases 114,000 SF at Pompano Business Center
Sitel Operating Corp. signed an 114,000-square-foot office lease at 2500 NW 19th St. in Pompano Beach, FL.
The Nashville, Tenn.-based customer care carrier will certainly open a new monetary services call center next month, right away adding 350 brand-new workers with plans to increase head count to 1,000 there in one year. Bldg O in the Pompano Company Center is a 172,120-square-foot Telecom Hotel/ Information Hosting structure built by IDI Gazeley in 2001 on 9.8 acres in the Pompano Beach Industrial submarket of South Florida’s Broward County.
“Backfilling an 114,000-square-foot job with limited divisibility was no little job,” said John K. Criddle, director with Cushman & & Wakefield.”Despite this challenge, our team was eventually able to identify a credit renter, bring them to the table, and, together with the City of Pompano Beach, protect an offer that benefits our customer, Sitel, and the neighborhood at huge.”
John Criddle, Richard Etner, Christopher Metzger, and Christopher Thomson with Cushman & & Wakefield represented the property manager, J.P. Morgan. By Justin Sumner
MedAssets Restores Lease 105,000 SF at Saddle River Exec. Ctr.
MedAssets Inc. renewed its full-building lease for all 105,958 square feet at 1 Rte 17 S in Saddle River, NJ for an extra 11 years.
Built in 2002, the three-story Saddle River Executive Centre workplace home lies in the North 17 Corridor submarket of Bergen County.
William McCaffrey, Steve Geltzeiler and Marc Krieger of Avison Young represented the proprietor. John Flack and James Scancarella with Cresa represented the tenant. By Patrick Scally
KCG Holdings Leases 169,000 SF at World Financial Center
KCG Holdings Inc., a financial services company, rented 169,000 square feet in the World Financial Center structure situated at 1 North End Ave., aka 300 Vesey, in New York City. The financial company will certainly be relocating from its existing space at 545 Washington Blvd. in Jersey City, NJ in the 4th quarter of 2016.
The 16-story, 558,034-square-foot, 4-Star office tower was integrateded 1997 and is had by Brookfield Office Properties.
John Wheeler, Michael Berman, Clayton Kline and Paul Glickman with JLL dealt with Brookfield’s David Cheikin. Derek Trulson and Michael Shenot, also with JLL, represented the renter. By Kelly Faulk
Synovus Leases 100,000 SF Near New Atlanta Braves Arena
Synovus Financial has actually rented 4 floors totaling 100,000 square feet in a structure being established by TPA Group in Cobb County off Akers Mill Road SE and Cumberland Boulevard, near the new Atlanta Braves arena under construction.
The workplace tower, called 1100 Overton, will certainly consolidate about 300 Atlanta-based Synovus workers, consisting of Bank of North Georgia’s senior management team, a Bank of North Georgia branch and Synovus’ specialized lenders and investment experts, according to an e-mail from Lee Underwood, spokesman for the Columbus, GA monetary services company which has $27 billion in possessions.
Lease terms were not instantly readily available. The designer, Atlanta-based TPA Group, is a personal property investment, acquisitions, and advancement company whose principals have actually obtained and established more than 25 million square feet and 27,000 acres valued at more than $5 billion. In addition to the 5.5 million square feet of space home to more than 300 business at its trademark home, Technology Park/Atlanta, TPA’s jobs consist of Verizon’s $30 million, 220,000-square-foot Center for Quality in Lake Mary, FL.
Construction of the brand-new multi-tenant structure is anticipated to begin soon and Synovus, which engaged CBRE Group Inc. to check out real estate options, will certainly relocate following the structure’s anticipated conclusion in mid- to late-2017. The business revealed last fall that it was thinking about such a move to achieve added expense savings and higher efficiency. By Randyl Drummer
Texas Kid’s Health insurance Takes Leading Eight Floors
Texas Kid’s Health Plan signed a 10-year offer for 159,136 square feet at 6330 W. Loop South in Bellaire, TX. The Texas Kid’s Medical facility subsidiary will certainly inhabit the top eight floors at the 14-story, 278,489-square-foot building, signing up with engineering consulting firm WorleyParsons in the complex beginning January 2016.
Mike Adams supplied in-house representation on behalf of structure owner, Accesso Partners. By Amena Ali
Logitech Restores Lease at Barton Skyway
Logitech, a Switzerland-based international company of personal computer and tablets devices, restored its 99,047-square-foot lease at 1601 S. MoPac Expy. in Austin, TX.
Built in 2000, the 195,639-square-foot, four-story workplace building is part of Brandywine Real estate Trust’s four-building Barton Skyway workplace park situated in the South submarket.
Logitech shares area at Two Barton Skyway with LifeSize, Mozido and WhiteGlove Health, to name a few. By Darnell Darrell
Brown & & Toland Indicators 60,000-SF HQ Lease in Oakland
Brown & & Toland Physicians, a health care company that has had its head office in the South of Market area in San Francisco considering that 2003, will certainly be relocating to Oakland after signing a multi-year lease for 60,000 square feet at the Clorox Building in downtoan Oakland’s City Center complex.
The move, which is slated to take place in April 2016, will certainly bring most of the business’s workers together in one location. Nevertheless, a satellite office will certainly be maintained San Francisco.
Tim Hogan and John Dolby with DTZ’s San Francisco and Oakland workplaces represented Brown & & Toland in the lease deal.
“This is the largest relocation of a renter from San Francisco to downtown Oakland we have tracked, with Matson Navigation in 2003 (52,000 square feet) and Koret of California in 1998 (51,000 square feet) among the others,” said DTZ’s Dolby. “This brand-new tenancy will bring Class A vacancy in downtown Oakland to below 8 %, meanwhile Class B is less than 6 %. With just one single block of space bigger than 50,000 square feet currently readily available, Oakland will have to build new inventory to draw in other big occupants.” By Greer Pruitt
Chalkboard Keeps HQ in Northwest D.C.
Leading education technology platform Blackboard will keep its headquarters in Washington, D.C. after agreeing to a 13-year lease for 70,482 square feet at 1111 19th St. NW in the city’s main downtown.
Clarion Partners obtained the nearly 40-year old structure in 2008 and performed a multimillion dollar restoration last spring to make the 271,251-square-foot, 12-story workplace building LEED Gold certification.
Established in a Dupont Circle row home in 1997, Chalkboard, which has actually inhabited 111,895 square feet at 650 Massachusetts Ave. since 2008, will certainly move into Ogilvy Public Relations Wordwide’s previous space on the eighth through 10th floors starting in December 2015.
Philip S. Thomas, Jr., Kerri Mulligan Salih, Matthew Venos and Callie Clemons of DTZ represented Clarion Partners, while Mark Richardson of Cushman & & Wakefield worked out the lease on behalf of Blackboard. By Adam Kosna
PennTex Midstream Renews, Broadens Business HQ
PennTex Midstream Partners LP, which possesses and operates ‘midstream’ energy facilities properties, has restored the lease for its home office.
The business expanded into 14,625 square feet at 11931 Wickchester Ln., a 61,872-square-foot, four-story workplace building located in Houston’s Katy Freeway West submarket.
Jill Bond Nesloney with Griffin Partners Inc. repped the occupant, while Griffin Jaggard of Moody Rambin represented the property owner, Dornin Investment Group. By Shontae Dennis-Scott
Varde Partners Takes 36,000 SF at AT&T Tower
Varde Partners signed a lease for 36,461 square feet of workplace in the AT&T Tower located at 901 Marquette Ave. in Minneapolis, MN. The 33-story, 606,579-square-foot, 4-Star workplace building is located in the downtown CBD submarket.
Varde Partners is relocating from the Normandale Lakes workplace park in Bloomington, taking area on the 32nd and 33rd floor of their new place in January 2016. Mark McCary with CBRE represented the proprietor. By Brandon Burns
Gallagher Benefit Svcs Leases 35,000 SF
Gallagher Advantage Solutions Inc., an insurance business, signed a 34,868-square-foot lease at 4000 Midlantic Dr. in Mount Laurel, NJ.
The three-story, 46,945-square-foot workplace building was built in 1981 in the North Burlington County submarket as part of the Laurel Corporate Center.
Evan Zweben from Colliers International represented the occupant. Donna Bleiler with Brandywine Real estate Trust represented the proprietor in-house. By Tho Vu
Comverse Renews Office Lease in Mount Laurel
Comverse Inc. renewed its 30,731-square-foot lease at 1025 Briggs Rd. in Mount Laurel, PA. The single-story workplace building totals 61,019 square feet. It was integrateded 1994.
Even Zweben and Joseph Fetterman of Colliers International represented the tenant. Dan Close, Rick Widerman, and John Mozzillo of JLL represented the proprietor. By Nashira Smith
Lincoln Investment Transferring HQ to Apex Fort Washington
Lincoln Financial investment Planning, a nationwide financial advisory firm, has actually signed an 11-year lease for the entire 3rd floor totaling 48,412 square feet at 601 Office Center Dr. in Fort Washington, PA.
. Bldg 601 is a 154,756-square-foot workplace structure within the 400,000-square-foot Apex Fort Washington workplace complex in Montgomery County. Constructed in 1987, the school also houses offices for Nutrisystem, Bristol-Myers Squibb and AmeriHealth Administrators, although AmeriHealth will certainly be transferring in early 2016 to 1900 Market St. in Center City.
Patrick Kelley of Avison Young represented Lincoln Investment Planning in lease settlements. Jeff Mack, Adam Shute and Patrick Nowlan of Newmark Grubb Knight Frank represented the property owner, Kairos Realty Partners. By Autumn George
DoubleLine Relocating to Wells Fargo Ctr North
Financial investment management company DoubleLine has signed a lease for 25,965 square feet on the 18th floor of the Wells Fargo Center – North Tower at 333 S. Grand Ave. in L.a, CA. The occupant will certainly take occupancy next month on an 11-year lease ending in 2026.
The 54-story, 1.42 million-square-foot workplace tower was originally integrateded 1982 at the southwest corner of Third Street in downtown LA.
. John Barganski, James Malone, Marin Turney and Rachael Zanetos with Brookfield Office Properties represented the property owner in-house. David Toomey and Brian Davies of Cresa represented the renter. By Troy Friedeck
Spanning Cloud Apps Leases 20,391 SF in Austin CBD
501 Congress Ave secures another lease with a brand-new occupant Covering Cloud Apps, which consented to take 20,391 square feet of office space in the Annex Structure located at 501 Congress Ave.
The five-story Annex building totals 116,437 square feet and just recently signed tech company Dropbox as a renter.
EMC is the father and mother business to Spanning Cloud Apps LLC. Covering is a cloud apps backup focused company that prepares to enhance headcount with this larger Austin CBD place.
Lance Sallis of Stream Real estate Partners represented the landlord and Chris Marchbanks of Cresa represented the renter. By Haener Elie Jr.Prosper Leases 33,898 SF in San Francisco
Prosper, a peer-to peer financing platform, signed a lease for 33,898 square feet in the office structure at 201 Spear St. in San Francisco. The 18-story structure overalls 246,563 square feet on the corner of Spear and Howard Streets in the city’s south financial district.
KBS Realty Advisors acquired the LEED Gold home in 2013, according to CoStar information.
Prosper’s lease will certainly be for the entire third and fourth floors. Other renters in the building include iMatchative and Verizon.
Mark McGranahan of Cushman & & Wakefield represented Prosper, while Zachary Siegel and Sam Wasserstein, also of Cushman & & Wakefield, represented KRS. By John Walz
Broadcom Restores, Broadens Into 60,000 SF at Brickstone Square
Broadcom Corp. expanded at Brickstone Square to a total of 60,000 square feet after agreeing to a renewal and 17,000-square-foot growth with structure owners Oaktree Capital Management and KS Partners.
The Fortune 500 semiconductor manufacturer inhabits space on the fifth and sixth floor at 200 Brickstone Square, a six-story, 379,384-square-foot workplace building situated in Boston’s Lawrence/Andover submarket.
200 Brickstone is part of the four-building, one million-square-foot Brickstone Square office park. Oaktree Capital and KS Partners got the park in 2014. Other occupants include NewRiver, ALKU and Genesis Health care.
CBRE/New England’s Kerry Olson Hawkins, Jason Levendusky and Jake Borden provided representation for KS Partners and Oaktree Capital, while representatives with Cresa worked out on behalf of Broadcom. By Fran Koerner
Cambridge Trust to Open Workplace in Blanchard Woods
Cambridge Trust Co., a chartered office bank and subsidiary of Cambridge Bancorp, signed a lease with Duffy Properties to occupy 40,460 square feet at 78 Blanchard Rd. in Burlington, MA.
The five-story, 126,685-square-foot, Class An office building was built in 2001 and remodelled in 2014. Cambridge Trust Co. prepares to relocate its Fresh Pond Cambridge workplace by the end of 2015 with approximately 100 employees relocating to the brand-new space.
78 Blanchard is one of 3 structures that make up the 200,000-square-foot Blanchard Woods office park established by Duffy Properties. Located off I-95/ Path 128, the park sits five miles from I-95 and 15 miles from downtown Boston. Cambridge Trust’s lease brings the park to around 76 % leased.
Mark Carangelo of Equitable Real Estate Solutions represented Cambridge Trust Co., while Alex Plaisted and Stephen Murphy of CBRE-New England represented Duffy Properties. By Jeannie Reamer
Ameris Bank Inks Deal in Riverplace Tower
Ameris Bank signed a 36,182-square-foot lease at the Riverplace Tower at 1301 Riverplace Blvd. in Jacksonville, FL.
The 28-story, 498,808-square- foot, Class A workplace structure was built in 1967 and is in the Downtown Southbank submarket. Jesse Shimp and Kaycee Gardner of JLL represented the property manager, a joint endeavor comprised of Lingerfelt Commonwealth Partners and FIG LLC, in negotiations. By Monique Heckman
Pandora Media Offers Thumbs As much as SL Veggie’s 125 Park Ave.
Pandora Media LLC, a popular online streaming music carrier, has actually signed a brand-new 10-year lease for 51,065 square feet at 125 Park Ave. in New York City, doubling its overall tenancy at the tower to 103,515 square feet on four adjoining floors.
The 30-story, 654,852-square-foot, 4-Star office structure was built in 1923 in the Grand Central submarket of Midtown Manhattan, between East 41st and 42nd Streets and straight across from Grand Central Terminal. Now more than 98 percent rented, the structure likewise consists of Haworth, Canon Company Solutions, TD Bank and Newmark Grubb Knight Frank as occupants.
SL Veggie Realty Corp. obtained the property in 2010 from Shorenstein Realty Services for $330 million, according to CoStar data.
At 125 Park, the rapidly-expanding Pandora will now inhabit the entire 21st and 22nd floors, in addition to its existing space on the 19th and 20th floors.
“We were thrilled to collaborate once more with Pandora to accommodate the company’s fast development,” said Steven Durels, SL Eco-friendly executive vice president, director of leasing. “Pandora built an amazing workplace environment for its employees, which shows the chance for imaginative occupants to take full advantage of the benefit of well-located midtown structures.”
William Iacovelli and Ramsey Feher with CBRE represented Pandora in lease settlements. Howard Tenenbaum and Gary Rosen with SL Environment-friendly’s internal leasing group were aided by David Falk, Peter Shimkin, Daniel Levine, Brian Waterman, and Jonathan Tootell with Newmark Grubb Knight Frank. By Justin Sumner
HDI-Gerling America Expands HQs.
HDI -Gerling America Insurance coverage Co., a specialized property and casualty insurance supplier for medium to large industrial clients, will certainly maintain its North American headquarters in Chicago’s Central Loop after consenting to restore its 19,415-square-foot lease at 161 N. Clark. The firma likewise accepted take an extra 6,808 square feet on the 49th floor for an overall of 26,223 square feet.
David Kimball of MB Property’s business services and occupant advisory group represented HDI-Gerling, while Jonathon Cordell of The John Dollar Co. represented the property manager, CBRE Global Investors. By Philip Moss
Obermayer Leases 61,000 SF at Centre Square.
Law firm Obermayer Rebmann Maxwell & & Hippel LLP leased 60,544 square feet, taking two adjoining floors on a 16-year term at the Centre Square – West Tower office structure at 1500 Market St. in Philadelphia, PA.
. The 43-story, 1.38 million-square-foot, 4-Star workplace tower was built in 1974. The law practice has actually functioned for more than 90 years in the Philadelphia location, and will transfer to its brand-new place in March 2016. Christian Dyer and Nick Gersbach of CBRE represented
the property manager. Judson Wambold and Martin Bond of Tactix Property Advisors represented the occupant. By Justin Smith Bennett Thrasher Leases 62,500 SF in Atlanta Office Project. Bennett Thrasher LLP, the 8th biggest accounting company in Atlanta and the 100th largest in the United States, leasedr 62,500 square feet at Highwoods Characteristic ‘Riverwood 200 advancement in Atlanta’s Cumberland Galleria/Northwest submarket. The 12-story office building will total 299,000 square feet beside Highwoods’502,500-square-foot Riverwood 100 structure once building involves June 2017. Bennett Thrasher LLP’s lease consists of the whole 5th and sixth floors, and half of the 7th floor. The firm will sign up with Delta Neighborhood Credit
Union, which signed for 79,000 square feet previously this year. Representatives with Highgate Partners represented Bennett Thrasher, while Mike Wells and Jim Bacchetta supplied in-house representation for Highwoods Characteristics.
By Louise Cook NJSIG Inks 20,000-SF Lease at Laurel Corp Ctr. New Jersey Schools Insurance coverage Group signed a lease to inhabit 20,073 square feet at 6000 Midlantic Dr. in Mount Laurel, NJ. The 169,885-square-foot office structure, situated within the Laurel
Corporate Center, was built in 1987 on 8 acres in the North Burlington County submarket of Philadelphia. The seven-story, multi-tenant workplace building includes 1,575 parking areas and showcases a conference center and restaurant. Evan Zweben with Colliers International represented the renter. Whitesell Building Co.’s leasing department handled lease negotiations internal. By Donna Stokes