NEWARK, N.J. — Swedish construction company Skanska AB it has signed an additional contract for the building of new office tower for Prudential Financial Inc. in Newark. Skanska previously signed a $117 million contract with Prudential to build the property in July. The 20-story tower, which will span approximately 217,600 square feet, will have an adjoining parking garage and ground-floor retail. The project aims to achieve LEED Gold certification. Construction is underway, with the project slated for completion in March 2015.
SAN FRANCISCO – ASB Real Estate Investments has purchased a 187,000-square-foot office building in San Francisco’s South of Market (SOMA) district. The six-story building is located at 795 Folsom Street. The building formerly served as the headquarters for Twitter. It is once again fully leased to tenants like Kabam, AT&T and Regus. Cornerstone Real Estate Advisers LLC purchased the building in July 2011 for $71 million.
SCOTTSDALE, ARIZ. — GPS Insight has signed a seven-year lease for 49,571 square feet of space at Henkel Corporate Center in Scottsdale. The center is located at 19001 N. Scottsdale Road. The GPS fleet tracking company will relocate its corporate headquarters from nearby 21803 N. Scottsdale Road. The center is now 95 percent occupied. GPS was represented by Matt Coxhead and Ryan Bartos of Cushman & Wakefield of Arizona. The landlord, Henkel/The Dial Corporation, was represented by Steve Corney and Andrew Medley of Jones Lang LaSalle.
SANTA MONICA, CALIF. — Cross Campus has signed a seven-year lease for 13,337 square feet in Santa Monica. The space is located at 1558 10th Street. Cross Campus will be relocating and expanding from its current operations just two blocks away at 820 Broadway. Randy Starr and Tim Dornan of Avison Youngrepresented both Cross Campus and the landlord, Tenth & Colorado Associates Ltd., in this transaction.
MANCHESTER, N.H. — NAI Norwood Group has arranged a 7,000-square-foot office lease for Lutheran Social Services (LSS). The nonprofit will move into its new office space in November. LSS is consolidating multiple New Hampshire offices for better coordination between the different divisions. The organization is relocating from Manchester and Concord and will be occupying the third floor at 340 Granite St. in Manchester Jeanne Butler of NAI Norwood Group represented LSS in its search for a new site. Mike Reed of Stebbins represented the landlord. The landlord will deliver a newly renovated space to accommodate the different LSS divisions.
HOUSTON — Radler Enterprises Inc. has broken ground on Phases III and IV of Beltway Lakes, a 46-acre master-planned office park at the intersection of Beltway 8 and Highway 249 in the Northwest Houston submarket. The new buildings are two nine-story, Class A towers totaling 540,000 square feet. Both are LEED Gold Pre-Certified and will include amenities such as a fitness facility and two on-site dining options. A climate-controlled walkway will connect an adjacent parking garage to both facilities, which were designed by architecture firm Gensler. Radler Enterprises began development of Beltway Lakes in 2008.
SCOTTSDALE, ARIZ. — GPS Insight has signed a seven-year lease for 49,571 square feet of space at Henkel Corporate Center in Scottsdale. The center is located at 19001 N. Scottsdale Road. The GPS fleet tracking company will relocate its corporate headquarters from nearby 21803 N. Scottsdale Road. The center is now 95 percent occupied. GPS was represented by Matt Coxhead and Ryan Bartos of Cushman & Wakefield of Arizona. The landlord, Henkel/The Dial Corporation, was represented by Steve Corney and Andrew Medley of Jones Lang LaSalle.
SANTA MONICA, CALIF. — Cross Campus has signed a seven-year lease for 13,337 square feet in Santa Monica. The space is located at 1558 10th Street. Cross Campus will be relocating and expanding from its current operations just two blocks away at 820 Broadway. Randy Starr and Tim Dornan of Avison Youngrepresented both Cross Campus and the landlord, Tenth & Colorado Associates Ltd., in this transaction.
DEERFIELD, ILL. — Walgreen Co. has completed the sale-leaseback of six office buildings in its headquarters complex in Deerfield, a northern suburb of Chicago. Escondido, Calif.-based Realty Income Corp. purchased the property. Jones Lang LaSalle, which marketed the property, previously said the drugstore giant intended to sell the campus for approximately $85 million. The complex spans 574,605 square feet on 38 acres. Guy Ponticiello and Bruce Westwood-Booth, both managing directors, and Brian Shanfeld, senior vice president, led the Jones Lang LaSalle team in the transaction.
CHICAGO — Marcus & Millichap has arranged the sale of DaVita Dialysis Building, a 18,965-square-foot property in Chicago, for $5.9 million. Austin Weisenbeck and Sean Sharko, investment specialists in Marcus & Millichap’s Oak Brook office, marketed the property on behalf of the seller, a private investor. David Weinberg, an investment specialist in Marcus & Millichap’s Detroit office, represented the buyer, a Michigan-based investor. The newly constructed building is located at 4253 S. Cottage Grove Ave. at the intersection of South Cottage Grove Avenue and 43rd Street. The property is a build-to-suit, flagship facility for DaVita Dialysis, which occupies 89 percent of the building. At the end of 2012, DaVita operated or provided services at 1,954 outpatient centers in the United States.