NEW YORK CITY — SL Green Realty Corp. has completed three office leases in Midtown Manhattan, New York City, that total more than 153,000 square feet. At 1515 Broadway, Wurk Environments has signed a 10-year lease for 64,788 square feet. The company will occupy the previously vacant 11th and 12th floors of the 54-story building. The Times Square tower is currently undergoing an extensive redevelopment. David Kaufman of SL Green, along with Frank Doyle, Cynthia Wasserberger, Edward DiTolla and David Kleiner of Jones Lang LaSalle, represented SL Green. At 1185 Avenue of the Americas, News America Inc., an affiliate of News Corp., has expanded its space by 54,472 square feet, taking the 22nd and 23rd floors of the tower in a 12-year lease. The new lease brings the company’s total space in the building to 138,284 square feet, and keeps the building at full occupancy once the new space becomes vacant in 2009. David Levinson and David Berkey of L&L Holding Co. represented the tenant. SL Green was represented in-house by Howard Tenenbaum and Gary Rosen. At 750 Third Avenue, Eisner LLP has also expanded, leasing 33,981 square feet under an 8-year term. The company will expand into the entire …
DENVER — Behringer Harvard has acquired 1875 Lawrence, a 15-story office tower in the historic LoDo (lower downtown) area of Denver’s central business district. Built in 1982, the property offers 185,000 square feet of rentable office space. Additionally, the property features a three-level underground parking garage. The seller and acquisition price were not disclosed.
DULUTH, GA. — Brand Properties has broken ground on the 110,000-square-foot One Sugarloaf Centre, a Class A office building located at 1960 Satellite Blvd. in Duluth. Design work was provided by Wakefield Beasley Associates with the goal of attaining LEED certification for the property. The building is 70 percent pre-leased to tenants including Gwinnett Community Bank, Garrard Construction, Wheeler Kolb Management Co. and J.D. Stephens Inc. Delivery is expected in September of next year.
CHICAGO — MillerCoors has signed a 15-year lease for approximately 130,000 square feet of office space located at 250 S. Wacker Dr. in downtown Chicago. The property will serve as the company’s new headquarters, joining Milwaukee and Golden, Colo., as one of MillerCoors’ three major business locations. MillerCoors will be the largest tenant at the building, with 400 employees on eight floors. The headquarters will house a majority of MillerCoors’ senior executives, as well as marketing, human resources, legal, finance, IT and communications divisions. Chicago-based VOA has been selected to complete the interior design and construction for the property, which will require the firm to employ sustainable and environmentally responsible designs. MillerCoors will continue to maintain its operations in Milwaukee and Golden, and plans to make major investments in both breweries. The new headquarters will be ready for occupancy in June 2009. Jones Lang LaSalle assisted MillerCoors in its headquarters relocation.
BLOOMINGTON, MINN. — Minneapolis-based NorthMarq Brokerage Services has secured a lease with Prime Therapeutics for 156,000 square feet of space within TIAA-CREF’s Normandale Lake Office Park located in Bloomington. Prime Therapeutics has begun a phased move-in to six floors of the 8400 Tower, which was formerly leased to GMAC-ResCap. The company will continue to occupy its space within the Eagandale Corporate Center, and is using the new property to consolidate additional operations. Tom Bahe, assisted by Ray Reese, Brian Fogelberg and Neil Kolatkar of CB Richard Ellis, represented Prime Therapeutics in-house; Tom Tracy and Zach Pettus of NorthMarq represented the property owner in negotiations.
MINNEAPOLIS — On behalf of Virchow, Krause & Co., Welsh Construction has completed a 92,00-square-foot build-out for an office located at 225 South Sixth St. in Minneapolis. The project included installing steel floor framing and cutting stairs between five floors of the existing building. The Class A office space was completed by Welsh Construction in 5 months. The project was headed up by Welsh Project Managers Chris Loberg and Blaine Kolles; Field Superintendent Rod Kalina; and Project Assistant Jean Springer.
INDIANAPOLIS — Summit Realty Group has brokered two Indianapolis office deals totaling more than 53,000 square feet. John Demaree and Tim Norton of Summit Realty Group represented Winton Development in the sale of a multi-tenant office and warehouse building located at 7150 Winton Dr. Spohn & Associates has acquired the 45,300-square-foot facility for an undisclosed amount. Jim Fasone of Summit represented the buyer in the transaction. Additionally, Rebecca Baer of Summit represented Roberts Co. in the sale of its 8,000-square-foot office building located at 5601 South Meridian St. Vancouver, Wash.-based American Property Exchange Inc. purchased the fully leased property for an undisclosed amount. Russ Zimmerman of Meridian Real Estate represented the buyer in the transaction.
NEW YORK CITY — Marcus & Millichap Capital Corp. has arranged a $1.8 million loan for the refinancing of a 12,000-square-foot, multi-tenant office building located at 1713 Eighth Ave. in the Park Slop neighborhood of Brooklyn, New York City. Sean Mooney of the firm’s Brooklyn office originated the loan, which includes a 6.12 percent fixed interest rate, a 75 percent loan-to-value ratio, a 5-year term and a 30-year amortization schedule. The lender was a commercial bank.
HOUSTON — The Houston office of Holliday Fenoglio Fowler (HFF) has arranged a loan for the refinancing of Dairy Ashford Plaza, a two-building office property located in the Westchase submarket of Houston. Located at 2000 and 2020 S. Dairy Ashford Rd., the two buildings comprise 105,419 square feet and 107,890 square feet, respectively. Tucker Knight and Steven Gautier of HFF originated the fixed-rate, non-recourse financing on behalf of the borrower, DAP Plaza Ltd. The lender is Cincinnati-based Ohio National Financial Services. The amount and terms of the loan were not disclosed.
TUSTIN, CALIF. — Jack Markovitz Trust has purchased Red Hill Corporate Plaza, a 44,123-square-foot office building in Tustin, for $12.9 million. The trust acquired the property in a 1031 exchange for cash flow purposes. Built in 1984, the property serves as headquarters for Oncotech, a company that provides molecular oncology testing services. Phil Cohen of Lee & Associates’ Irvine, Calif., office represented the buyer and the seller, John R. Saunders of Red Hill LLC, in the transaction.