Office

LPL Financial Opens New Corporate Campus in Metro Charlotte

by John Nelson December 6, 2016

FORT MILL, S.C. — LPL Financial has opened its new Carolinas campus in Fort Mill, a suburb of Charlotte in South Carolina. Designed by tvsdesign, the 27-acre campus includes 450,000 square feet of office space in two buildings and features net-zero water design strategies, tree save areas, efficient HVAC systems and natural light. The Atlanta-based architect expects the campus to receive LEED Gold certification. The campus consolidates LPL Financial’s 1,400 employees previously working in four separate locations in metro Charlotte. Situated within the Kingsley Park mixed-use development, LPL’s campus includes sit-to-stand adjustable work stations, a fitness center, health clinic, cafeteria, two miles of walking trails, community garden, outdoor sports court, game room, waterfront plaza, 12 EV charging stations, bicycle storage and a bicycle sharing program.

December 6, 2016

New Hampshire Northeast Office

The Kane Company Arranges 1,367 SF Office Lease in Portsmouth, New Hampshire

by Amy Works December 6, 2016

PORTSMOUTH, N.H. — The Kane Company represented A&A Search Staffing in a lease for 1,367 square feet of office space at 2 International Drive in Portsmouth. The information technology staffing company took occupancy of the space on Dec. 1. Catie Medeiros of The Kane Company represented the tenant, while Russell Doyle provided in-house representation for the landlord, Two International Group, in the deal.

December 6, 2016

Northeast Office Pennsylvania

Arrow Real Estate Services Joins TCN Worldwide Real Estate Services

by Amy Works December 6, 2016

PHILADELPHIA — Arrow Real Estate Services has joined TCN Worldwide Real Estate Services as the newest member of the international real estate services organization. Founded in 2012 with four people, Arrow Real Estate Services has grown to a more than 40-person company with more than 3 million square feet of listings and over 20 local, regional and national retail clients. Serving the greater Philadelphia area, the firm provides real estate brokerage and consulting services, including retailer representation, project leasing, site selection, property dispositions, consultation, property management, and office, medical and industrial representation.

December 6, 2016

Industrial Office Texas

Stream Realty Partners Negotiates Two Sales Totaling 163,420 SF in Dallas Area

by Amy Works December 6, 2016

DALLAS AND CARROLLTON, TEXAS — Stream Realty Partners has brokered two sales totaling 163,420 square feet in Dallas and Carrollton. In the first deal, MOFAM LLC sold a 43,140-square-foot industrial and office building located at 8400 Ambassador Row in Dallas to 8400 Ambassador Row LLC for an undisclosed price. Jason Moser of Stream Realty Partners represented the seller, while Altschuler and Co. represented the buyer. In the second transaction, WRF Investments acquired a 120,280-square-foot industrial property within Prologis Trinity Mills 3 at 2425 Camp Ave. in Carrollton. Lightning PropCo I LLC sold the building for an undisclosed price. Ryan Boozer and Todd Poticny of Stream Realty Partners represented the buyer, while Nathan Denton of Lee & Associates represented the seller.

December 6, 2016

Illinois Midwest Office

Captive Resources to Move Headquarters From Schaumburg to Itasca, Illinois

by Kristin Harlow December 6, 2016

ITASCA, ILL. — Captive Resources LLC has purchased 1100 N. Arlington Heights Road in Itasca, about 27 miles northwest of Chicago, for its new headquarters. The independent consulting company, which provides advisory services to captive insurance or self-insured companies, will relocate from its current headquarters in Schaumburg, Ill. Two properties in Schaumburg will be consolidated, and all employees will be relocated to the Itasca location in the third quarter of 2017. CRI will occupy approximately 100,000 square feet on the first four floors, with third-party tenants occupying the remainder of the 150,000-square-foot building. Originally constructed in 1999, the building is a six-story, Class A office property located on the northwest corner of Thorndale and Arlington Heights roads. Colliers International represented Captive Resources in the transaction.

December 6, 2016

California Office Top Stories Western

Equinix to Acquire Portfolio of 24 Data Center Sites from Verizon for $3.6B

by Katie Sloan December 6, 2016

REDWOOD CITY, CALIF. — Equinix Inc. (NASDAQ: EQIX) has agreed to acquire a portfolio of 24 data center sites and their operations from Verizon Communications Inc. (NYSE, NASDAQ: VZ) for $3.6 billion. The portfolio consists of 29 buildings across 24 sites in North and South America, including Atlanta and Norcross, Ga.; Bogotá, Columbia; Boston; Chicago; Culpeper, Va.; Dallas, Houston and Richardson, Texas; Denver; Los Angeles, Santa Clara and San Jose, Calif.; Miami and Doral, Fla.; New York City; São Paulo, Brazil; Seattle; and Washington, D.C. The NAP of the Americas facility in Miami was formerly a flagship facility for Verizon, and will become a strategic hub and gateway for Equinix customer deployments servicing Latin America. Approximately 250 Verizon employees, primarily in the operations functions of the acquired data centers, will become Equinix employees. The all-cash transaction is expected to close by mid-2017. Evercore, J.P. Morgan Securities LLC and Davis Polk & Wardwell LLP advised Equinix in the acquisition. At the close of the transaction, Redwood City, Calif.-based Equinix’s total global footprint will be 175 data centers in 43 markets with approximately 17 million gross square feet across the Americas, Europe and Asia. Equinix’s stock price closed at $332.08 per share …

December 6, 2016

Connecticut Northeast Office

Media Horizons Inks 12,648 SF Office Lease in Norwalk, Connecticut

by Amy Works December 5, 2016

NORWALK, CONN. — Media Horizons Inc. has signed a lease for 12,648 square feet of office space at 800 Connecticut Ave. in Norwalk. The digital and direct marketing agency plans to relocate its headquarters to the 412,000-square-foot property, which is owned by CBRE Strategic Partners U.S. Value 7, from 40 Richards Ave. in Norwalk. David Block and Joseph Weaver of CBRE represented the landlord, while Paul Kauffman and Mark Jacobs of JLL represented the tenant in the lease transaction.

December 5, 2016

Illinois Midwest Office

Resource Innovation Office REIT Acquires Office Building in Chicago for $7.2M

by Kristin Harlow December 5, 2016

CHICAGO — Resource Innovation Office REIT Inc., a non-traded real estate investment trust, has purchased 1025 W. Sunnyside, an office building in Chicago, for $7.2 million. The building offers 27,852 square feet of office and retail space with exposed wood beams, high ceilings, open floor plans and café-style workspaces. The property is 100 percent occupied by tenants such as Fansided, an independent sports and entertainment network. Cedar Street Cos. was the seller.

December 5, 2016

North Carolina Office Southeast

NAI Carolantic Arranges Nutanix’s 70,000 SF Lease in Chesterfied Building in Downtown Durham

by John Nelson December 5, 2016

DURHAM, N.C. — NAI Carolantic has arranged a 70,000-square-foot lease with Nutanix, a San Jose-based software firm that is expanding its East Coast presence. The company will occupy space at the Chesterfield, an adaptive reuse of a former tobacco building in downtown Durham that Wexford Science + Technology is currently redeveloping. Upon completion the property will include lab and office space, a six-story atrium, 11,500 square feet of ground-level retail space and 42,000 square feet of shared lab innovation space. Robin Roseberry Anders of NAI Carolantic is the leasing agent for the Chesterfield building. Other committed Chesterfield tenants include Duke University for 100,000 square feet and BioLabs NC for 42,000 square feet. Marlene Spritzer, Edwin Yarbrough and Whitney Rodgers of Savills Studley’s Durham office advised Nutanix in the lease negotiations. Joe Brady and Mike Mordaunt of Savills Studley’s San Jose office, who have worked with Nutanix’s headquarters office since the tech firm’s founding, collaborated with Savills Studley’s Durham team on the transaction. Wexford plans to deliver the property in January 2017.

December 5, 2016

Colorado Office Top Stories Western

Franklin Street Properties Buys Dominion Towers in Downtown Denver for $154M

by Jeff Shaw December 5, 2016

DENVER — Franklin Street Properties Corp. (NYSE: FSP), a Massachusetts-based REIT, has acquired the Dominion Towers office property in downtown Denver for $154 million. The property includes a 19-story tower and a 28-story tower that are connected. The Class A buildings total 613,527 rentable square feet, resulting in a purchase price of $251 per rentable square foot. Dominion Towers is situated in the center of downtown Denver, within one block of light rail access and adjacent to the 16th Street Mall. The towers are 89 percent leased, and EOG Resources Inc., an oil and gas company, is the largest renter, taking up 29 percent of the property through December 2026. FSP funded the acquisition of Dominion Towers with cash on hand and the proceeds of a $150 million unsecured, two-year bridge loan with JPMorgan Chase Bank NA as administrative agent. FSP plans to implement $3 million in capital improvements to the property. “We believe that the acquisition of Dominion Towers will provide additional opportunities for value creation by growing our presence in downtown Denver to almost 2 million rentable square feet,” says Jeffrey Carter, president and chief investment officer of FSP. FSP’s stock price closed at $12.25 per share on …

December 5, 2016

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