Office

THREE FIRMS SIGN LEASES AT HALL OFFICE PARK

by admin August 16, 2012

FRISCO — Three firms have signed new leases at Hall Office Park, a 2 million-square-foot office development located in Frisco. Bolinger & Hogue has renewed its lease for 2,816 square feet at 2595 Dallas Parkway; Jordan, Houser & Flournoy has renewed its lease for 1,103 square feet at 2591 Dallas Parkway; and Maxim Management has signed a new lease at 2801 Network Blvd. Kim Butler, Tammy Nellis and Brad Gibson of Boyer Group represented the landlord, Hall Financial Group, in the lease transactions. Greg Whittington of Cresa Partners represented Bolinger & Hogue and Alexis Martinez of Stream Realty represented Maxim Management Group.

August 16, 2012

USC LEASES 19,115 SF IN DOWNTOWN LA

by admin August 16, 2012

LOS ANGELES – USC has signed a 72-month lease for 19,115 square feet at the LA World Trade Center in Downtown Los Angeles. The building is located at 350 South Figueroa Street. USC plans to use the new space for Ednovate, a new charter high school that will open later this month. USC was represented by Howard Feuerstein, Dennis Smith and Cory Campbell of Travers Realty. The landlord, Jamison Services, was represented by Chris Runyen with Charles Dunn Company.

August 16, 2012

Office Western

BECHTEL COMMUNICATIONS LEASES 17,500 SF AT BISHOP RANCH

by admin August 16, 2012

SAN RAMON, CALIF. – Bechtel Communications has leased 17,500 square feet of office space at Bishop Ranch in San Ramon. Its new space will be located at Bishop Ranch 6 at 2420 Camino Ramon. Bechtel was represented by CBRE’s Phil Damaschino.

August 16, 2012

Northeast Office

PARAGON ACQUIRES 72-ACRE OFFICE CAMPUS

by admin August 15, 2012

BOLTON, MASS. — Paragon Holdings has acquired a 72-acre property in Bolton for $8 million. The company plans to consolidate its operations at Ashland and Southborough into one global headquarters. The Paragon companies, including Paragon Communications Inc., NTSDirect and Paragon R3, plan to occupy the new headquarters in January 2013. The campus includes a 301,647-square-foot building with a fitness center, cafeteria and basketball court. Paragon purchased the property, formerly the Future Electronics site, from RGM Holdings.

August 15, 2012

Northeast Office

WORK BEGINS ON 120,000 SF SPECULATIVE OFFICE BUILDING IN BURLINGTON

by admin August 15, 2012

BURLINGTON, MASS. — Construction has started on a five-story, 120,000-square-foot office building at 78 Blanchard Road in Burlington. The building will be part of Blanchard Woods, a 200,000-square-foot office park developed by Duffy Properties. The park includes two existing buildings at 76 and 80 Blanchard Road, which total 80,000 square feet. Steve Murphy and Alex Plaisted of CBRE Group will manage the leasing for the property. 78 Blanchard Road is the first speculative office building under construction along Route 128 this year.

August 15, 2012

Northeast Office

FUND ACQUIRES WALNUT HILL PLAZA

by admin August 15, 2012

KING OF PRUSSIA, PA. — A fund comprised of Miller Investment Management and Hayden Real Estate Investments has purchased Walnut Hill Plaza, a 155,073-square-foot office building in King of Prussia. The fund, named MIM-Hayden Real Estate Funds, reportedly paid $11 million for the property, which is located at 150 South Warner Road. The companies plan to renovate the building's lobby, common area and restrooms. The MIM-Hayden fund has acquired 24 properties and is now 60 percent invested.

August 15, 2012

Office Texas

PM REALTY GROUP BUYS SUGAR CREEK ON THE LAKE

by admin August 15, 2012

SUGAR LAND — PM Realty Group has acquired the 515,000-square-foot Sugar Creek on the Lake, a Class A office building located at 14141 SW Freeway in Sugar Land. The purchase also included a parking garage and 14.72-acre parking lot. PM Realty plans to invest $13 million in capital improvements and additional parking with its equity partners, PCCP and Fuller Realty Partners. The building was fully occupied by Chevron until its lease expired in March 2010. The property is currently 20 percent occupied by Money Management International and Hightower Deli.

August 15, 2012

Office Western

FBI LEASES 22,264 SF AT LONG BEACH OFFICE BUILDING

by admin August 15, 2012

LONG BEACH, CALIF. – The General Services Administration – Federal Bureau of Investigation (GSA-FBI) has signed a 15-year lease for a total of 22,264 square feet at 4811 Airport Plaza in Long Beach. The FBI will occupy the entire 15th floor of the building, as well as 1,000 square feet on the ground floor. The lease is valued at $9.6 million. The landlord, 4811 Airport Plaza, LLC, was represented by Jeff Coburn, Shaun McCullough, Dylan Espley-Jones and Say Jeon of Lee & Associates Los Angeles – Long Beach.

August 15, 2012

Office Southeast

CBRE GROUP BROKERS $4.12M OFFICE SALE

by admin August 14, 2012

FAIRFAX CITY, VA. — CBRE Group has arranged the $4.12 million sale of a 19,000-square-foot office building, located at 4010 University Drive in Fairfax City. The property is fully leased to law and accounting firms. William Prutting of CBRE Group represented the seller in the transaction. The buyer was a private investor.

August 14, 2012

Midwest Office

UNITED AIRLINES TO MOVE HEADQUARTERS TO WILLIS TOWER

by admin August 14, 2012

CHICAGO — United Airlines is moving its headquarters to Chicago's Willis Tower, which currently houses the airline's new operations center. Corporate staff is moving from 77 W. Wacker to 200,000 square feet at the tower. The new deal means the company will be leasing a total of 830,000 square feet at Willis Tower. Once the deal is complete, United will occupy approximately 25 percent of the building. The company has also agreed to extend its lease by two years to 2028. A partnership of Chicago and New York investors known as 233 S. Wacker Drive LLC owns Willis Tower. Jones Lang LaSalle represented United Airlines in the lease transaction.

August 14, 2012

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