LISLE, ILL. — Rockola Corp. has signed a 3,040-square-foot office lease at 550 Warrenville Road in Lisle. The building is part of the Corporetum Business Park. Patrick Kiefer and Jim Adler of NAI Hiffman represented the landlord, Winthrop Realty Trust, in the transaction. Chris Shanahan of Stony Creek Brokerage represented the tenant.
WALTHAM, MASS. — Citizen's Disability has signed a lease for 42,905 square feet at 1075 Main St. in Waltham. Citizen's Disability, a Social Security disability advocacy group, is relocating its headquarters from Marlboro, Mass. The building features a cafe, fitness center and covered parking. Stephen James and Dan Collins of NAI Hunneman represented the tenant in the transaction. Rob Walles of CBRE Group represented the landlord.
PHILADELPHIA — Ballard Spahr, a national law firm, has signed a 15-year lease renewal for 179,307 square feet at BNY Mellon Center in Philadelphia. Wayne Fisher and Craig Scheuerle of Newmark Grubb Knight Frank represented the landlord, CommonWealth REIT, in the transaction. CBRE represented the tenant. The property is managed by Reit Management & Research LLC, Real Estate Services. The BNY Mellon Center was built in 1990. Firms such as BNY Mellon, FMC Corp. and Sunoco are headquartered in the building, which has maintained occupancy rates above 90 percent since its construction.
HOUSTON — Phillips 66 has plans to build its new global headquarters on a 14-acre site, located between Westheimer Road and Briar Forest Drive in Houston's Westchase District. Phillips 66 will acquire the property from an affiliate of Thomas Properties Group. The campus will include office space, conference capabilities, training facilities and wellness and dining options. Construction is slated to take between two to three years and will commence when the design is finalized and the permits are in place. Phillips 66's temporary headquarters are in the Pinnacle Westchase building.
DALLAS — Newport Beach, Calif.-based KBS Realty Advisors has finalized three new long-term leases totaling 18,552 square feet at the 515,732-square-foot Providence Towers, which KBS acquired in 2009. Marcus & Millichap will lease 10,205 square feet on the first floor of Providence Tower West, White Rock Oil and Gas will occupy 5,780 square feet in the Providence East Tower and Investment Talk Advisors will occupy 2,567 square feet on the second floor of Providence Tower West. Kim Brooks, Justin Miller and Scott Walker of Transwestern's Dallas office represented the owner in the lease transactions. Chris Sido of Swearingen Realty Group's Dallas office and Scott Flanagin of Warren Wixen Real Estate Services' Los Angeles office represented Marcus & Millichap. Sandy Matejek of Jones Lang LaSalle's Dallas office represented White Rock, and Investment Talk Advisors was self-represented.
IRVINE, CALIF. – A 24,000-square-foot office building located at 2501 Alton in Irvine has sold to EQR Residential for $5 million. EQR is an apartment developer that plans to demolish the property in favor of a new multifamily development. The company had previously purchased an adjacent site and is currently processing entitlements for the new project. This 1.9-acre space is expected to represent the second phase of the project. EQR was represented by CBRE’s Larry Schuler. The seller, SKB Enterprises, was represented by Steve Schloemer of Colliers International.
CONCORD, CALIF. – The Fresenius USA building, a 152,000-square-foot, single-tenant office/R&D building in Concord, has received a $4.5-million mezzanine loan. The building is fully leased to Fresenius USA, a subsidiary of Fresenius Medical Care AG & Co KgaA. It serves as the company’s North America medical equipment manufacturing facility. The financing allowed the building’s owner, Harvest Properties, to purchase, renovate and expand the property to 183,149 square feet. The investment was made on behalf of Pearlmark Mezzanine Realty Partners III. The transaction was arranged by Bill Swackhamer and Rachael Litvin of Pearlmark Real Estate Partners.
SANTA CLARA, CALIF. – ATopTech has leased 26,000 square feet of office and R&D space in Santa Clara. The company is relocating to 2111 Tasman Drive from 3099 North First Street in San Jose. The new space will serve as the company’s headquarters. ATopTech was represented by Mike Mordaunt and Scott Kinder of Cresa San Jose. The landlord, RREEF, was represented by CBRE’s Joe Kelly and Rob Shannon.
CULVER CITY, CALIF. – Gentleman Scholar multimedia production studios has leased 7,322 square feet at Blackwelder, a 6.4-acre creative office and media campus in Culver City. The long-term lease is valued at $2.5 million. Other tenants at the center include The Mill, Hungryman, On Board Entertainment, Soap Creative and Bandito Films. The landlord, Alcion Ventures, was represented by Jim Jacobsen and Scott Rigsby of Industry Partners.
RUTHERFORD, N.J. — PCCP has provided a $60 million senior loan to refinance Meadows Office Complex, a 600,471-square-foot office property in Rutherford. A joint venture between Onyx Equities and SL Green Realty Corp. owns the two-building property. The complex is 79 percent leased to 60 tenants, the largest of which is Malo, a wellness and dental clinic. The property includes structured parking, a cafeteria and full daycare services.