Office

BIOSCIENCE COMPANY RENEWS 107,000-SQUARE-FOOT LEASE

by admin April 14, 2009

BEVERLY, MASS. — Life sciences firm Thermo Fisher Scientific has renewed its lease for more than 107,000 square feet of laboratory and office space at Cummings Center, located in Beverly. The company uses the space to develop and manufacture a wide range of water analysis instruments. Stephen Cook of Grubb & Ellis represented the tenant in lease negotiations. The landlord, Woburn, Mass.-based Cummings Properties LLC, was represented in-house by Steve Drohosky. Terms of the lease were not disclosed. The Cummings Center campus is home to more than 500 businesses, including Microsoft, Merrill Lynch, Goldman Sachs, Oxford Global Resources, Liz Claiborne, Wells Fargo, Hasbro, Bright Horizons and Garber Travel. Additionally, more than 30 life sciences occupy space within the campus, which features fitness centers, two full-service banks, daycare facilities, five restaurants, on-site bus service and a branch of North Shore Community College.

April 14, 2009

DARIM VISION CORP. ACQUIRES OFFICE SPACE AT MONTEVINA

by admin April 14, 2009

LIVERMORE, CALIF. — Darim Vision Corp. has purchased a 3,600-square-foot freestanding office building in Montevina, a 250,000-square-foot Class A office and R&D complex in Livermore. Darim plans to move its United States-based headquarters to the new building. Located at 3110 Constitution Dr., the property sold for approximately $1.21 million $337 per square foot. John Hone of Cornish & Carey Commercial represented the buyer; Hone, Jim Peterson and Andrew Zink of Cornish & Carey Commercial represented the seller, ExTerra Realty Partners, in the transaction.

April 14, 2009

Midwest Office

SUMMIT COMPLETES RENOVATION OF NEW AFN HEADQUARTERS

by admin April 13, 2009

NILES, ILL. — Summit Design + Build has completed an extensive renovation and tenant build-out for the new corporate headquarters of AFN Transportation Management, located at 7230 N. Caldwell Ave. in Niles. The logistics company will be relocating from Deerfield, Ill., to an existing 38,932-square-foot office building. The renovated space features a front entrance with a glass atrium, private offices, conference rooms, a training room with tiered floors, an executive board room, a kitchen and a vending area. The project also included the construction of a workout facility with plasma-screen televisions, locker rooms, steams rooms and a shower area; an outside patio with a grilling area; an enclosed, heated parking garage, and a 200-space surface parking lot. Architectural services were provided by Cornerstone Architects.

April 13, 2009

Northeast Office

SHELDON GROSS BRINGS OCCUPANCY AT 80 MAIN STREET TO 95 PERCENT

by admin April 13, 2009

WEST ORANGE, N.J. — Sheldon Gross Realty have arranged five leases at 80 Main Street, a five-story, Class A office building located in West Orange. These most recent lease brings occupancy in the 102,000-square-foot office building to more than 95 percent. Law firm Eschen, Frenkel, Weisman and Gordon LLP expanded its existing lease at the property to 7,700 square feet. Law firm Sachs Maitlin renewed its lease for 6,000 square feet. Sheldon Gross Realty itself renewed its lease for 3,430 square feet within the building. Accounting firm Aberbach Zolin & Co. signed a new lease for 2,000 square feet. Finally, law firm Mescall & Acosta expanded its existing lease to 1,200 square feet. Neil Gewirtzman and Barbara Gross of Sheldon Gross Realty are the exclusive leasing agents for the property.

April 13, 2009

Office Texas

GRUBB & ELLIS FACILITATES SALE OF THREE-STORY OFFICE BUILDING

by admin April 13, 2009

HOUSTON — Chris Wadley and Logan Brown Jr. of Grubb & Ellis’ Houston office recently represented Gillett Properties in the sale of 3 Northpoint Drive. The three-story, approximately 54,000-square-foot office building sold to WW Cole Group Ltd., which represented itself. The building is located in Houston within close proximity to Interstate 45 North and Beltway 8. It is fully leased to the State of Texas.

April 13, 2009

Office Southeast

RIDGELAND OFFICE COMPLEX ON SCHEDULE

by admin April 10, 2009

RIDGELAND, MISS. — Birmingham-based Hoar Construction is nearly finished constructing the structural frame, shell and core of the 368,000-square-foot Renaissance 200 office tower. The property is located adjacent to Renaissance at Colony Park in Ridgeland. The Class A building was designed by Atlanta-based Cooper Carry & Associates, and it is being constructed to LEED Silver standards. Hoar will also complete a build-out of Ridgeland-based Butler Snow’s new law offices on the top four floors of the property. The development is expected to deliver in October.

April 10, 2009

Office Southeast

LEASE RENEWALS SIGNED IN BOCA RATON OFFICE COMPLEX

by admin April 10, 2009

BOCA RATON, FLA. — Liberty Property Trust has signed lease renewals totaling more than 78,000 square feet for space in the firm’s Boca Colonnade building, located at 777 Yamato Rd. in Boca Raton. Campus Management Corp. has signed a 53,619-square-foot lease. Greg Katz of Studley’s Miami office represented Campus Management in the long-term lease. Verizon Wireless Personal Communications has signed a 25,262-square-foot lease. Keith Edelman and Scott Goldstein of Jones Lang LaSalle’s Miami office represented the tenant.

April 10, 2009

Midwest Office

GRUBB & ELLIS BROKERS PURCHASE OF 557 WEST RANDOLPH

by admin April 10, 2009

CHICAGO — Grubb & Ellis has brokered the purchase of a 21,800-square-foot office building, located at 557 W. Randolph St. in Chicago, for $2 million. The property was acquired by Actors’ Equity Association (AEA), which is expanding from its previous location at 125 S. Clark St. in Chicago. The actors’ union will initially occupy two of the building’s four stories beginning in the second quarter of 2010 and will lease out the remaining space. Mark Stables of Grubb & Ellis negotiated the transaction. Stephen DiPaola of AEA provided in-house representation. The building located at 557 West Randolph was constructed in 1855 and is one of only two buildings in the area to survive the Great Chicago Fire of 1871.

April 10, 2009

Northeast Office

JONES LANG LASALLE BROKERS SALE OF AMES POND CORPORATE CENTER

by admin April 10, 2009

TEWKSBURY, MASS — Cappy Daume, Scott Jamieson, and Mike Smith, and Nathaniel Heald of Jones Lang LaSalle have closed the $10 million sale of Ames Pond Corporate Center in Tewksbury. The two-building, 154,200-square-foot office park is set on 55 acres at the I-495 and Route 133 interchange. The property is currently 71 percent leased to seven tenants, with five new leases totaling 100,000 square feet closed since June 2007. The site can potentially accommodate upwards of 150,000 square feet of commercial development. A joint venture partnership between Leggat McCall Properties and Dead River Properties purchased the park. Jones Lang LaSalle represented the seller and procured the buyer in the transaction.

April 10, 2009

Office Southeast

MIDLOTHIAN CENTER SOLD BY REIT FOR $7 MILLION

by admin April 9, 2009

RICHMOND, VA. — Allied Capital REIT has sold the 146,305-square-foot Midlothian Center to Midlothian Plaza Associates for $7 million. The property, located at the intersection of Wadsworth Drive and Midlothian Turnpike in Richmond, is 57 percent occupied by medical and retail service tenants. Eric Robison, Richard Thalhimer, James Ashby, IV, and C. Lee Warfield, III, of Thalhimer’s Richmond office brokered the sale.

April 9, 2009

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