SAN FRANCISCO — Intuit Inc. has signed a long-term lease for about 200,000 square feet of space in Downtown San Francisco. The building is located at 22 Fourth Street. Demandforce, a division of Intuit’s Small Business segment, will occupy the property’s entire office portion. The Container Store currently occupies 29,245 square feet of retail space on the building’s first two floors. Intuit was represented by Bart Lammersen, Paul Bryant and Chris Holland of Jones Lang LaSalle. The landlord, Jamestown, was represented by Wes Powell and Karen Wells from the same firm.
HOLLYWOOD, CALIF. — Todd-Soundelux, LLC has signed a 12-year lease renewal for a 40,315-square-foot office space in Hollywood. The property is located at 900 Seward Street in the city’s production corridor. The post-production sound company’s Todd AO Studios operates out of the facility. The company was represented by Arlene Sommer and Mark Robinson of Cushman & Wakefield. The landlord, Vista Investment Group, was represented by John Tronson and Steven Tronson of Avison Young.
BROOKLYN PARK, MINN. — Ryan Cos. has begun construction on a multi-million dollar office and manufacturing facility for Olympus Surgical Technologies America in suburban Minneapolis. Located in Brooklyn Park, Minn., the two-story, 180,000-square-foot facility will consolidate the company’s operations, currently housed in five buildings, in one building. The project is scheduled for a September 2014 completion. Ryan Cos. will provide development, architecture and engineering, construction and capital market services for the project. Other partners on the project include RSP Architects and Jones Lang LaSalle.
SAN FRANCISCO — Intuit Inc. has signed a long-term lease for about 200,000 square feet of space in Downtown San Francisco. The building is located at 22 Fourth Street. Demandforce, a division of Intuit’s Small Business segment, will occupy the property’s entire office portion. The Container Store currently occupies 29,245 square feet of retail space on the building’s first two floors. Intuit was represented by Bart Lammersen, Paul Bryant and Chris Holland of Jones Lang LaSalle. The landlord, Jamestown, was represented by Wes Powell and Karen Wells from the same firm.
HOLLYWOOD, CALIF. — Todd-Soundelux, LLC has signed a 12-year lease renewal for a 40,315-square-foot office space in Hollywood. The property is located at 900 Seward Street in the city’s production corridor. The post-production sound company’s Todd AO Studios operates out of the facility. The company was represented by Arlene Sommer and Mark Robinson of Cushman & Wakefield. The landlord, Vista Investment Group, was represented by John Tronson and Steven Tronson of Avison Young.
SUNNYVALE, CALIF. — Lane Partners has acquired a 508,946-square-foot office portfolio in Sunnyvale for a reported $127 million. The 16-building office and R&D portfolio is primarily located in the Peery Park submarket. It was 94 percent leased at the time of sale. One-third of the portfolio was leased to Apple.The seller, a global investment manager, was represented by CBRE’s Joseph Moriarty, Russell Ingrum, Sean Sullivan, Tyler Meyerdirk and Brad Zampa.
MOUNTAIN VIEW, CALIF. – Mountain Bay Plaza, a 165,390-square-foot office tower in downtown Mountain View, has received $55 million in refinancing. The Class A tower is located at 444 Castro in Silicon Valley. It was 97 percent leased to tenants like Fenwick & West, Red Hat, PricewaterhouseCoopers and Bank of America. The fixed-rate loan was arranged by HFF’sBruce Ganong and Walter Chui on behalf of The Swig Company. The loan was placed with John Hancock Real Estate.
NEW YORK CITY — Rockrose Development Corp. has acquired the commercial portion of the Madison Square Building at 15 E. 26th St. in Manhattan from Savanna Estate Fund for $105 million. The 150,000-square-foot boutique commercial office space is part of the larger 20-story, 330,000-square-foot mixed-use property. Constructed in 1920, the asset is 95 percent leased to tenants on floors one through eight, including Vera Wang's executive offices and showroom. The seller acquired the property in February 2012 for $57.8 million, according to CoStar Group Inc. Savanna worked with the Jones Lang LaSalle team of Mitchell Konsker, Matthew Astrachan, Matthew Polhemus and Brittany Wunsch in leasing up the property at market rents.Craig Deitelzweig, head of Rockrose's office division, represented the buyer in-house. Adam Spies, Doug Harmon, Adam Doneger and Joshua King with Eastdil Secured represented Savanna in the transaction.
HAMPTON, N.J. — CBRE Group Inc. has completed two office lease transactions totaling 44,344 square feet at Perryville III, a 288,500-square-foot, Class A office building in Hampton. Celldex Therapeutics, a life sciences firm that develops diagnostic and therapeutic products for immune disorders and autoimmune diseases, will occupy 33,363 square feet. Gerald Moore Jr., managing director at The Garibaldi Group, represented the tenant in the transaction. In the second lease, Residential Home Mortgage Corp. signed a lease to occupy 10,981 square feet. John Goodwin and Patricia Riedel, senior associates at CBRE, represented the owner, Crown Properties, in both transactions.
SUNNYVALE, CALIF. — Lane Partners has acquired a 508,946-square-foot office portfolio in Sunnyvale for a reported $127 million. The 16-building office and R&D portfolio is primarily located in the Peery Park submarket. It was 94 percent leased at the time of sale. One-third of the portfolio was leased to Apple. The seller, a global investment manager, was represented by CBRE’s Joseph Moriarty, Russell Ingrum, Sean Sullivan, Tyler Meyerdirk and Brad Zampa.