WEEHAWKEN, N.J. — CresaPartners has brokered a 209,000-square-foot lease expansion for data center provider Savvis Inc. in Weehawken. The company will expand its current facility, which is located within Lincoln Harbor, into the adjacent building. The two facilities will be connected directly through fiber optics. Initial plans for the new space include the construction of 35,000 square feet of raised floor space, which should be complete by the second quarter of 2010, as well as a phased expansion that would add another 70,000 square feet of raised floor. CresaPartners' New York City, Paramus, N.J., and San Jose, Calif., offices represented Savvis in lease negotiations. The landlord, Secaucus, N.J.-based Hartz Mountain Industries, provided in-house representation.
SAN DIEGO — Cushman & Wakefield has handled New York-based L-3 Communications Corp.’s $8.78 million lease renewal for 123,442 square feet of office and R&D space at 10770 Wateridge Circle in the Sorrento Mesa area of San Diego. Cushman & Wakefield’s Matt Strockis represented L-3 Communications, and Matt Nickels of CB Richard Ellis represented the lessor, Metropolitan Life Insurance Company.
BETHESDA, MD. — A joint venture of LCOR and USAA Real Estate Co. is planning to build a 362,000-square-foot office building for the U.S. Nuclear Regulatory Commission in March. The 14-story property, which will be located in the North Bethesda Center in Bethesda, is expected to deliver by July 2012. The NRC has signed a 15-year lease on the building and will staff the center with 1,300 employees. The architecture firm HOK designed the space to LEED Silver standards. Tim Hutchens of CB Richard Ellis’ Government Services Group and Phil McCarthy and Keith Foery of Transwestern represented the developers in the agreement. Studley represented the General Services Administration on behalf of the NRC.
LAKE MARY, FLA. — A joint venture between CB Richard Ellis Realty Trust and Duke Realty Corp. has purchased the 108,449-square-foot Northpoint III office building for an undisclosed amount. The property, which was constructed by Duke in 2001, is located at 3300 Exchange Place in the Northpoint Office Park in Lake Mary. The property is fully leased to Florida Power, who has a lease for the building until 2021.
DEERFIELD, ILL. — California-based Tragon Corp. has signed a leased for 6,267 square feet of office space at the 75,000-square-foot Deer Tech building, which is located at 111 Deer Lake Rd. in Deerfield. The lease was valued at approximately $1 million. Michael Flynn and Jason Wurtz of NAI Hiffman represented the ownership, ECD Co., in the lease transaction.
PHILADELPHIA — Cohen Financial has secured a $20 million loan for the refinancing of a more than 1 million-square-foot office building located at 401 N. Broad St. in Philadelphia. The loan includes a fixed interest rate with a 25-year amortization schedule priced on the 5-year U.S. Treasury. Dan Rosenberg of Cohen's Chicago office represented the borrower, Scarsdale, N.Y.-based The Stillman Group. The lender is a regional bank.
HOUSTON — Grubb & Ellis has arranged a sublease for 53,232 square feet at Wedge Tower, an office building located at 1415 Louisiana St. in downtown Houston. The subtenant, Eagle Rock Energy Partners, will be relocating from its Houston location at 16701 Greenspoint Dr. The sublessor is Dominion Exploration & Production. Jim Arket and Mona Williams of Grubb & Ellis represented Dominion in negotiations. Joe Peddie, David Guion and Hugh Hermann of Cushman & Wakefield represented Eagle Rock. Terms of the lease were not disclosed.
SAN FRANCISCO — The 13-story, $190 million San Francisco Public Utilities Commission headquarters broke ground yesterday at 525 Golden Gate Ave. in the Civic Center near San Francisco’s City Hall. Designed by KMD Architects and Stevens Architects, the 277,000-square-foot building is designed to exceed LEED Platinum certification and will exceed California’s recent Title 24 requirements for energy efficiency in new office buildings by 55 percent. Completion of the project is planned for spring 2012.
HARFORD COUNTY, MD. — St. John Properties has acquired a 60,000-square-foot office building and a 10-acre parcel of land, assets that were previously owned by Opus East, for an undisclosed amount. The building is located in the Aberdeen Proving Ground at 6240 Guardian Gateway in Harford County. It is fully leased to CACI International, which leases 45,000 square feet of space to the U.S. Army Joint Satellite Command. The undeveloped land can support a three-story, 75,000-square-foot office building.
IRVING, TEXAS — Universal Technical Institute has purchased Regent Office Center, a two-story, 108,800-square-foot office building located at 5151 Regent Blvd. in Irving. Josh White and Rob Kingsbury of Jones Lang LaSalle represented the buyer. Richard Crow and Marc Myers provided in-house representation on behalf of the seller and developer of the property, Myers Crow Co. The acquisition price was not disclosed.