Office

Former Belo Headquarters in Dallas to be Renovated

by Haisten Willis April 27, 2015

DALLAS — 400 Record, a downtown Dallas office building formerly known as the Belo Building, will be renovated. The Hartland-Mackie family owns the 17-story, 235,000-square-foot office tower located at the corner of Wood and Record streets. Design firm Gensler is leading the renovation, which will include upgrades to the entrances, a new glass-walled lobby, a garden on the top floor, a restaurant, new fitness center and new conference center. Another major feature of the remodel is a restaurant and bar, which will appear to float in the space and is covered in bronze metal panels. Restaurant consultant Sharon Hage is working with the Hartland-Mackie family on the dining space.

April 27, 2015

Sperry Van Ness / Visions Commercial Arrange Office Lease in Fort Worth

by Haisten Willis April 27, 2015

FORT WORTH, TEXAS — Sperry Van Ness / Visions Commercial have arranged three new office lease transactions at Fossil Creek Station office complex in Fort Worth. CelSana LLC leased 1,091 square feet for a three-year term beginning May 1; Scott Boyd, CPA leased 1,091 square feet for a three-year term that began April 1; and Blue Star Consulting leased 1,091 square feet for a three-year term that began March 1. Located at 6642 N. Riverside Drive, Fossil Creek Station is a four-building office complex situated just north of I-820 and east of I-35 off Western Center Blvd. The property was built in 2006. Clint Montgomery with Sperry Van Ness / Visions Commercial represented the property owner, Value Builders Inc., in all three transactions.

April 27, 2015

Northeast Office Pennsylvania

Shorenstein Acquires 1818 Beneficial Bank Place in Philadelphia’s Center City

by Amy Works April 27, 2015

PHILADELPHIA — Shorenstein Properties has completed the acquisition of a 1818 Beneficial Bank Place, a commercial office tower in Philadelphia’s Market Street West submarket. Also known as 1818 Market Street, the 988,000-square-foot building features Class A office space, ground-floor retail space and parking for more than 400 vehicles. The property serves as the headquarters for Beneficial Bank and Five Below. Terms of the transaction were not released. The company acquired the property on behalf of its eleventh real estate investment fund, formed in 2014 with $1.22 billion in committed capital from Shorenstein and its investors.

April 27, 2015

Arizona Office Western

Gateway Four Office Building in Phoenix Sells for Nearly $23M

by Nellie Day April 27, 2015

PHOENIX – Gateway Four, a 137,069-square-foot office building in Phoenix, has sold to VanTrust Real Estate for nearly $23 million. The building is located at 444 N. 44th Street. It is fully leased by State Farm Insurance, though the company is scheduled to vacate the building late next year when it consolidates its local operations. Gateway Four is part of the larger Phoenix Gateway Corporate Center. The seller was LBA Realty. The sale was executed by CBRE’s Tom Adelson and Jim Fijan.

April 27, 2015

Office Texas

Austin’s Largest Single Foundation Poured at Site of Planned Office Tower

by Haisten Willis April 24, 2015

AUSTIN, TEXAS — Trammell Crow Co. and Principal Real Estate Investors have reached a significant construction milestone for their new office tower in Austin, and they’ve made history in the process. To lay the foundation for 500 W. 2nd Street, the 29-story, 500,000-square-foot office tower located at San Antonio and 2nd streets, construction manager The Beck Group coordinated downtown Austin’s largest-ever continuous concrete foundation pour, placing more than 10,680 cubic yards of concrete in just over 24 hours. The foundation slab is over nine feet deep and holds more than 1,200 tons of rebar support. The office tower will soon begin vertical construction, with two tower cranes to erect on-site within the next two weeks. Owners Trammell Crow Co. and Principal Real Estate Investors are co-developing the project. Gensler is the project architect and The Beck Group is the construction manager.

April 24, 2015

Illinois Midwest Office

Reed Construction Completes Office Renovation, Expansion for Rise Interactive

by Danielle Everson April 24, 2015

CHICAGO — Reed Construction has completed a 20,000-square-foot renovation and expansion for Rise Interactive at 1 S. Wacker in Chicago. The build-out included the addition of an internal steel staircase with glass handrails, connecting the third and fourth floors, as well as the installation of a reclaimed wood barn door at the suite’s entry. In addition, two large meeting rooms were built-out and now feature a bar for internal company meetings and client entertainment. Reed Construction also built 10 additional private offices, eight conference rooms and two on-site cafés. Steve Sandquist was the project manager for Reed Construction. Hydzik Schade Associates provided architectural services. Rise Interactive is a digital marketing agency that specializes in traffic generation and web analytics.

April 24, 2015

Illinois Midwest Office

Bradford Allen Arranges 18,222 SF Office Lease in Des Plaines, Ill.

by Danielle Everson April 24, 2015

DES PLAINES, ILL. — Bradford Allen Realty Services has arranged a lease renewal and restructure of 18,222 square feet for Ex Libris Group in Des Plaines. The library automation solutions company will occupy space in a 244,049-square-foot office space located at 1350 E. Touhy Ave., just north of the Allstate Arena, between I-90 and Mannheim Road. The property recently underwent renovations. Ben Azulay and Joel Berger represented the tenant. Fred Ishler of Transwestern represented ownership, Steinco Inc.

April 24, 2015

Loans New York Northeast Office

New York Life Real Estate Investors Originates $205M Loan for Manhattan Office Tower

by Amy Works April 24, 2015

NEW YORK CITY — New York Life Real Estate Investors has originated $205 million in financing for an office tower, located at 757 Third Ave. in Midtown Manhattan. Multi-Employer Property Trust, as advised by Bentall Kennedy (U.S.) Limited Partnership, owns the 503,000-square-foot Class A office property. The loan has a term of 15 years. Eric Becher of New York Life Real Estate Investors’ New York regional office negotiated the transaction.

April 24, 2015

New Jersey Northeast Office

Colliers Arranges 30,000 SF Relocation for Paychex to One Centennial Plaza

by Amy Works April 24, 2015

PISCATAWAY, N.J. — Colliers International has arranged a long-term 30,000-square-foot lease for Paychex North America Inc. to relocate to One Centennial Plaza in Piscataway. Paychex, a provider of payroll, human resource and benefits outsourcing solutions for small to medium-sized businesses, will relocate to a portion of the first floor of the three-story, 236,961-square-foot office building this fall. The property features a conference and training center, security desk, on-site property management, 24/7 access, a full-service cafeteria and an outdoor seating area. Richard Madison and Jack Callahan of Colliers represented the landlord, while Michael Maroon of Acclaim Group represented Paychex in the transaction.

April 24, 2015

California Office Western

Gerald J. Sullivan & Associates Renews Lease at Pacific Financial Center in Los Angeles

by Nellie Day April 23, 2015

LOS ANGELES – Gerald J. Sullivan & Associates has renewed its lease for 28,668 square feet of office space at Pacific Financial Center in Downtown Los Angeles. The Class A office tower is located at 800 W. Sixth Street. It is fully occupied. The insurance brokerage firm has resided within the Pacific Financial Center since 1987. It occupies the top two floors of the property. The firm was represented by Jonathan Larsen of Avison Young. The landlord, Pacific Financial Equities, was represented by John Anthony of Charles Dunn Company.

April 23, 2015

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