ORLANDO, FLA. — L3 Communications has signed a lease renewal with Sentinel Real Estate Corp. for 80,000 square feet of office space and an additional 5,992 square feet of space. The property is located in the Sand Lake West Business Park at the intersection of Sandlake and Kirkman roads in Orlando. Jim Barton of Orlando-based Mohr Partners represented the tenant; J. Paul Reynolds of CB Richard Ellis’ Orlando office represented the landlord.
TETEBORO, N.J. — NAI James E. Hanson has completed a 51,000-square-foot, long-term lease renewal at 100 Hollister Road, a 175,000-square-foot office building located in Teteboro. The tenant, Swift Electrical Supply, has occupied space within the building since 2003 and renewed its lease early. Scott Perkins and Andrew Somple of NAI Hanson represented the tenant. The landlord, KTR Capital, was represented in-house by Steve Pron.
LOS ANGELES — Tony Azzi of Marcus & Millichap represented the undisclosed seller in the disposition of 10817 Santa Monica Boulevard in Los Angeles. The 5,200-square-foot office property sold for $2.4 million or $500 per square foot. The buyer was not disclosed.
ATLANTA — Historic Urban Equities has redeveloped the 11-story Atlanta Flatiron Building, adding new HVAC systems to the property and updating the lobby and common areas. These and other renovations reduced the Flatiron’s carbon footprint by 20 percent. The property, located at 84 Peachtree St. in Atlanta, encompasses 37,000 square feet of office space.
CHICAGO — MillerCoors has opened its new corporate headquarters at 250 S. Wacker Dr., located in Chicago. The company will occupy approximately 130,000 square feet of office space in the tower for a 15-year term and will be the building’s largest tenant. The company has invested approximately $21.8 million in a substantial tenant build-out that also includes improvements to a river walk just west of the building. The new headquarters will house the majority of MillerCoors’ senior executives, as well as marketing, human resources, legal, finance, information technology and communications divisions. The project has applied for LEED-Silver certification with the U.S. Green Building Council. MillerCoors is the second largest beer company in the United States, and was created in 2008 as a result of the combination of the American and Puerto Rican operations of London-based SABMiller’s Miller brand and Denver-based Molson Coors Brewing Company’s Coors brand. Soon after, the company announced plans to relocate the headquarters of the new joint venture to Chicago.
NORTH KANSAS CITY, MO., AND LENEXA, KAN. — Kansas City-based Zimmer Real Estate Services has arranged one sale and two leases in the Kansas City metro area. In the first transaction, Commercial Water acquired an approximately 5,000-square-foot building, located at 1790 Erie in North Kansas City. Nick Suarez of Zimmer represented the buyer. Ryan Markham and Paul Fogel of Karbank Real Estate Co. represented the undisclosed seller. Also in North Kansas City, Bears Printing & Bindery renewed its lease for 20,000 square feet at 200 W. Ninth St. Zimmer’s Mark Long represented the tenant in negotiations. Finally, Palmer Marketing relocated its Kansas City offices to approximately 7,600 square feet of office/warehouse space located within Santa Fe Business Center at 14125 W. 95th St. in Lenexa. It was previously located within Exchange Place. David Zimmer of Zimmer Real Estate represented Palmer Marketing. Jack Allen of Karbank represented the landlord.
RADNOR, PA. — Brandywine Realty Trust has completed a 14-year, 148,000-square-foot lease with VWR International at One Radnor Corporate Center in Radnor. The facility features 201,980 square feet of office space. VWR plans to take occupancy in February 2010. David Binswanger and Scott Gabrielsen of Binswanger represented the tenant in the transaction, and Brandywine was represented in-house by Richard McGuckin and Daniel Palazzo.
NEW YORK CITY — Sherwood Equities has completed a $24 million capital improvement program at 370 Lexington Avenue in Manhattan, New York City. The 27-story, 307,000-square-foot office building, situated one block south of Grand Central Terminal, is designed for tenancies as small as 500 square feet and as large as 10,000 square feet. Currently about 93 percent occupied, 370 Lexington has both white-box and pre-built space available, with the pre-built units including pantries with granite countertops and stainless steel appliances. Sherwood has installed an on-site leasing and management team, and also has an in-house architect, construction team and attorney on hand to provide for tenant occupancy in as little as two weeks. Recently concluded improvements include new HVAC and sprinkler infrastructures, a modernized lobby with a new security desk and a more efficient visitor management system, an upgraded conference center that is free of charge to tenants, renovated restrooms and hallways, upgraded windows on several floors, and the creation of a basement storage space for tenants. The building exterior has been restored and boasts new signage, and retail storefronts have been upgraded for uniformity.
STRONGSVILLE, OHIO — The Cooper Commercial Investment Group of Cleveland has negotiated the sale of the ownership interest in a multi-tenant office building in Strongsville for $3.15 million. Located at 14843 Sprague Rd., the Sprague Road Office Building is a 21,850-square-foot split-face building that was built in 2004, and features access to interstates 71, 80 and 480. Bob Havasi and Dan Cooper of Cooper Commercial negotiated on behalf of the Cleveland-based owner; the undisclosed buyer was also based in Cleveland. The transaction closed at an 8.78 percent cap rate.
WORCESTER, MASS. — Construction has begun for a new data center for the University of Massachusetts Medical School. The facility will be located in Worcester. Construction will consist of the renovation of 30,000 square feet within an existing 225,000-square-foot facility. The suite will include 7,000 square feet of data center and support space for the medical school, as well as the office of the president of the university. Completion is scheduled for March 2010. The construction manager for the project is Tishman Construction Corp. and the owner is Worcester City Campus Corp.