NEW YORK CITY — The New York City office of NAI Global has completed a 16,229-square-foot office lease within Wall Street Plaza at 88 Pine St. in Manhattan’s Financial District. The tenant, institutional energy broker Power Merchants Group, will relocate from its previous offices on the 38th floor of 40 Wall Street. Terms of the 10-year lease include a complete build-out of the tenant’s new floor, which will provide Power Merchants Group with turnkey office space once it relocates. NAI’s Andrew Simon and Robert Kluge represented the tenant in lease negotiations. The owner of Wall Street Plaza is Orient Overseas Associates, which was represented by Frank Cento of Cushman & Wakefield.
SHREWSBURY, MASS. — Integrated Builders has been selected to construct a 2,000-square-foot laboratory at 800 Boston Turnpike in Shrewsbury. The space will be built for Valeritas, a Parsippany, N.J.-based medical technologies company with offices in Shrewsbury. The lab will include a modular clean room. Last year, Integrated Builders completed a 20,679-square-foot project at the same facility for Valeritas. Integrated was selected by the building’s landlord, Vinco Properties, to complete the Valeritas build-out and reposition the 50,000-square-foot building.
NOBLESVILLE, IND. — Construction is progressing on the first building within Jackson Commercial Real Estate’s Hamilton Healthcare Campus in Noblesville. The 122,000-square-foot office building, which is underway at 146th Street and Cumberland Road, should be ready for occupancy by October. Community Health Network will be the anchor tenant at the three-story facility. The medical facility is expected to include primary care services, urgent care, imaging services, a laboratory, and a community conference center for tenant and neighborhood use. Additionally, the building will serve as Jackson Commercial Real Estate’s headquarters office. American StructurePoint is the architect; Edwards-Rigdon Construction Co. is the contractor for the project. The estimated cost of the project was not disclosed.
SCHAUMBURG, ILL. — RML Capital has arranged $5.5 million in first mortgage financing for Lakewoods Corporate Center, an 82,000-square-foot office building located at 650 Algonquin Rd. in Schaumburg. A local investor used the funds to purchase the four-story building for $6.5 million. The loan was based on a 5-year term, with a 25-year amortization schedule after the first year. Richard Lynn of RML Capital secured financing for the building from a local bank.
BROOKFIELD, WIS. — Travelers Indemnity Co. has signed a lease for 36,584 square feet of space within Pinnacle II, a Class A office building situated within the Pinnacle at Bishops Woods office park in Brookfield. The Pinnacle at Bishops Woods, which is located on a 28-acre site at Sunnyslope Road and Bishops Drive, houses 250,000 square feet in three buildings. Since the existing buildings are nearly 100 percent occupied, Big Bend Development is planning the final building at the property. Pinnacle IV is expected to measure approximately 50,000 square feet, and will front Interstate 94. Dan Wroblewski and Steve Pape in the Milwaukee office of Inland Cos. are marketing the fourth building. Construction of the new office is contingent on finding an anchor tenant.
NEWARK, DEL. — GPX Realty Partners has arranged a 20,319-square-foot office lease on behalf of BE&K at University Office Plaza, located at 258 Chapman Rd. in Newark. Terms of the lease were not disclosed. BE&K is an industrial engineering, construction and maintenance company. University Office Plaza consists of six, two-story office buildings totaling 183,629 square feet. The property has recently received property upgrades, including new interior and exterior finishes, new signage, roof repairs, new HVAC systems and a surface repaving.
HONOLULU — Unite Here! Local 5 has purchased a freestanding office building, which is located at 1516 S. King St. in Honolulu. The 10,200-square-foot building is situated on 14,015 square feet of fee simple land. Shiseido sold the property for an undisclosed price. Financing was provided by First Hawaiian Bank. Ronald Ward of Colliers Monroe Friedlander represented the buyer in the transaction.
HAMPTON ROADS, VA. — Jackson, Miss.-based Parkway Properties has sold the 82,000-square-foot Lynnwood Plaza, an office property in Hampton Roads, to an undisclosed buyer for $7.8 million. The plaza is currently 96.7 percent occupied. The sales price represented an 8.4 percent cap rate on 1 year of projected net operating income.
WENTZVILLE, MO. — St. Louis-based Kwame Building Group has completed the new corporate headquarters building for 1st Financial Credit Union in Wentzville. The 23,000-square-foot facility also serves as a retail branch location for the company. The two-story building includes an atrium lobby with a children’s corner, an employee break room/kitchen, a patio balcony, a training room for community seminars, five walk-up teller stations, four drive-through lanes and a drive-up ATM. The headquarters houses 1st Financial Credit Union’s executive staff, collections, accounting, marketing, business services, human resources and compliance departments. Kwame served as construction manager and owner representative; St. Louis-based United Construction was the general contractor and Tri Architects was the designer for the project.
NEW YORK CITY — New York City-based The Sapir Organization has leased 65,000 square feet of office space to Interactive Data Corp. (IDC) within Manhattan’s 100 Church Street building. IDC will initially occupy 51,000 square feet of the tower, followed by 14,000 additional square feet on the 11th floor during the next 5 years. It will relocate 212 employees within its Pricing & Reference Data division to the new office from its current midtown Manhattan offices. IDC plans to take occupancy in November. CB Richard Ellis’ Stephen Siegel, Howard Fiddle, Brad Gerla, Zachary Freeman and Gerry Miovski represented the landlord. Richard Berzine, Robert DeAngelis and Richard Fenn of Richard Berzine & Co. represented the tenant. The 100 Church Street building is a 21-story, 1.12 million-square-foot office tower that was built in 1958 and is currently undergoing a multi-million dollar capital improvements program. Tenants in addition to IDC include Niche Media, Regus HQ, New York City Law Department, New York City Mayor’s Office and CCA.