Office

830-Winter-St-Waltham-MA

WALTHAM, MASS. — A joint venture between King Street Properties and Carlyle Group has acquired a laboratory and office building located at 830 Winter St. in Waltham. Intercontinental Real Estate Corp. sold the 182,000-square-foot property for $104.2 million, or $572 per square foot. Built in 2000, the property is designed to accommodate both chemical and biological laboratories. Additional on-site amenities include a full-service cafeteria, outside seating, conference facilities and structured parking. The property was fully leased at the time of sale to tenants including Histogenics Corp., GlaxoSmithKline and ImmunoGen Inc. Chris Skeffington, John Lasher, Roy Sanderman, Jon Varholak and Steve Purpura of Transwestern|RBJ represented the seller and procured the buyer in the transaction.

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380-Stuart-St-Boston

BOSTON — John Hancock has filed a letter of intent with the Boston Redevelopment Authority to design and construct an office building in Boston’s Back Bay neighborhood. The $350 million project proposal calls for a 26-story, 625,000-square-foot Class A office tower at 380 Stuart St. If approved, the construction is slated to commence in late 2016, with projected completion date of early 2019. Skidmore Ownings & Merrill and CBT Architects are providing architectural services and Colliers International is serving as project manager for the proposed project.

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NEWPORT BEACH, CALIF. — Burnham-Ward Properties has acquired a 28,000-square-foot office building in Newport Beach for an undisclosed sum. The building is located at 4220 Von Karman Ave., within the Koll Center Newport master-planned office park. The entire 14,000-square-foot second floor of the office building was pre-leased during escrow to personal injury law firm Bergener & Associates. John Pomer and Ben Gott of Stream Realty and Justin Hodgdon of Newmark Grubb Knight Frank represented both the buyer and lessee in this transaction.

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CHICAGO — Reed Construction has completed the renovation of both towers that comprise The Franklin, an office complex in the West Loop neighborhood of downtown Chicago. The 60-story skyscraper is owned and managed by Tishman Speyer and consists of two separate towers: one at 222 W. Adams St. and the other at 227 W. Monroe St. The renovation work occurred on the fourth, 21st and 24th floors at 222 W. Adams, as well as the fifth floor at 227 W. Madison. A total of nine speculative suites, 10 breakrooms and four public corridors with men’s and women’s restrooms were renovated. A complete washroom was also relocated to the 21st floor of 222 W. Adams. Construction on each floor was completed simultaneously with staggered phasing to minimize disruptions for existing tenants. Jon Zawiski led the team for Reed Construction as the project manager, Jason Gunderson was the project executive, and Jay Crane was the superintendent. Harley Ellis Devereaux provided architectural services.

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CHICAGO — Prudential Real Estate Investors has acquired the Roosevelt Collection, a Class A mixed-use property in the South Loop of Chicago. Terms of the transaction were not disclosed. Located at 150 Roosevelt Road, the LEED-certified, mixed-use property includes two eight-story buildings with 326,098 square feet of retail space, 342 loft-style apartment units, and a three-level parking garage. (LEED stands for Leadership in Energy and Environmental Design, a standard developed by the U.S. Green Building Council.) The acquisition also includes an adjacent land lot that is part of a planned 400-unit, 43-story high-rise multifamily project. Retail components of the Roosevelt Collection feature a 16-screen Kerasotes ShowPlace ICON Movie Theatre, Container Store, lululemon and Banana Republic.

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DETROIT — Alidade Capital has selected Signature Associates to market 1900 St. Antoine, a 100,000-square-foot, Class A office property in Detroit, for sale or lease. The building, which is adjacent to Ford Field, was built in 2005 and features ample covered parking with an on-site garage, flexible floor plans, an on-site security desk, modern common areas and high-end finishes. Building signage and corporate branding opportunities are also available. The central downtown Detroit location makes it walkable to amenities in the central business district  and provides easy access to the I-75 and I-375 expressways. Garrett Keais and Jarrod Champine of Signature Associates are the listing brokers representing Alidade Capital, the building owner.

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2280-N-Greenville

RICHARDSON, TEXAS — NAI Partners and NAI Robert Lynn have represented GEICO with the relocation and leasing of its regional office. The new complex, located at 2280 N. Greenville Ave. in Richardson, is the former headquarters of Fossil Inc. The office spans 233,000 square feet and will serve more than 1,600 GEICO associates. Griff Bandy and Jon Silberman of NAI Partners, along with Tom Lynn and Nick Lee of NAI Robert Lynn, represented GEICO in the transaction. Chuck Sellers and Lauren Perry of Peloton Commercial Real Estate represented the landlord, CNL Commercial Real Estate.

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SAN BRUNO, CALIF. — A two-building office campus in the San Francisco Bay submarket of San Bruno has changed hands. The Class A campus serves as the world headquarters for YouTube. Neither the buyer, nor the price was disclosed. The campus is located at 900 and 1000 Cherry, within the Bayhill Office Park. It is situated directly adjacent to interstates 280 and 380. Both properties are fully leased to Google through 2022. They feature highly improved video/audio suites, high-end office finishes with creative spaces and conference rooms, and an “Immersion Room” that simulates a 360-degree video stream. The buildings also offer two full-service cafeterias, kitchen/pantry suites with lounge areas on each floor, a fitness center with lockers and showers, bike room with storage, and a multi-functional conference room for corporate events and executive retreats. HFF’s Steven Golubchik represented the seller, a fund managed by Cornerstone Real Estate Advisers.

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IRVINE, CALIF. — The Irvine Co. has announced its plans to build six “Next Gen Campus Office” buildings at the Irvine Spectrum. The buildings will total 528,000 square feet. They will be situated within the Spectrum’s Discovery Business Center and Sand Canyon Business Center projects. Discovery Business Center will receive four buildings totaling 317,000 square feet. The customizable space will be called the Quad at Discovery Business Center. Two new buildings totaling 212,000 square feet are planned at Sand Canyon Business Center as well. Construction is scheduled to commence early next year, with a completion date of early 2017. The Next Gen Campus Office will feature modern architecture, including floor-to-ceiling glass and aluminum curtain walls for natural light and energy efficiency. Amenities will include advanced infrastructure for technology, and fitness and wellness centers offering indoor and outdoor activities like yoga and bike-sharing programs. The Commons, a large open-air space at the heart of each campus, will feature a Wi-Fi-enabled outdoor living room, sun decks, al fresco dining, barbeques and other areas for people to work, collaborate or take a break.

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TUCSON, ARIZ. — Griffin Capital Corp. has acquired the 100,273-square-foot Aetna Life Insurance Co. building in Tucson for an undisclosed sum. The building is fully leased to the life insurance company. Aetna signed a new 10-year lease at the property as part of the sale-leaseback. The terms include an annual base rental rate increase of 3 percent with no termination or contraction options. The company has resided at this space since it was constructed as a build-to-suit in 2001. Cushman & Wakefield’s Boston office, along with Cushman & Wakefield’s Tucson affiliate, Picor Commercial Real Estate Services, represented Aenta in the deal. Griffin Capital Essential Asset REIT II is the official purchaser of the asset.

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