Office

PRIMERICA OPENS NEW GLOBAL HEADQUARTERS

by admin May 20, 2013

DULUTH, GA. — Financial services and marketing firm Primerica Inc. has opened its new global headquarters in Duluth. The 365,000-square-foot facility will house 1,600 of the company's 1,700 Gwinnett County-based employees, and has the capacity for an additional 200 people. The three-story building includes 58 conference rooms, a theater and adjoining TV studio, a 248-seat cafe and an interactive tour named “Imagine,” designed to showcase the new headquarters to current and prospective representatives and employees. Duke Realty was the project developer.

May 20, 2013

MIRAE ACQUIRES 225 W. WACKER FOR $218M

by admin May 20, 2013

CHICAGO — South Korean-based investor Mirae Asset Global Investments has purchased 225 W. Wacker in Chicago from 225 West Wacker Acquisition Co. for $218 million. Mirae also borrowed $115 million in acquisition financing through Principal Real Estate Investors and Allianz Real Estate of America, which provided the five-year loan. The 650,812-square-foot property is currently 91 percent leased to tenants including Edwards Wildman Palmer, PPM America, Merrill Lynch, CBIZ, Booz & Co., True Partners Consulting and Apple. Bruce Miller, Jim Postweiler and Nooshin Felsenthal of Jones Lang LaSalle led the sales team, while Keith Largay, Dave Hendrickson and Ian Russell, also of Jones Lang LaSalle, led the financing efforts in the transaction.

May 20, 2013

Midwest Office

ALTER GROUP SELLS 60,838 SF OFFICE BUILDING

by admin May 20, 2013

LOMBARD, ILL. — The Alter Group has sold 1800 Springer Drive, a 60,838-square-foot office/data center building in Lombard, to CyrusOne. The data company occupies 96 percent of the space. The 427,000-square-foot property is located in the Oak Creek Center business park, an 11-building, 70-acre office complex originally developed by The Alter Group. Scott Latter of EnTrust Realty Advisors LLC and Jeffrey Ludwig of Alter360 represented the owner in the transaction. CyrusOne provides mission-critical data center facilities that protect and ensure the continued operation of IT infrastructure for more than 500 customers.

May 20, 2013

Northeast Office

JV BUYS $121M PRINCETON PIKE CORPORATE CENTER

by admin May 20, 2013

LAWRENCEVILLE, N.J. — Prism Capital Partners LLC has teamed up with Angelo, Gordon & Co. to acquire Princeton Pike Corporate Center in Lawrenceville for $121 million, or $151 per square foot. The eight-building, Class A office park, located in Central New Jersey’s Mercer County, totals 800,000 square feet. The seller was Brandywine Realty Trust. The complex was approximately 90 percent leased at the time of sale, and tenants include Wells Fargo, Langan Engineering, Sirius XM Radio, Stark & Stark, the Princeton Healthcare System, Fox, Rothschild and Celsion. Prism is handling the leasing of Princeton Pike Corporate Center.

May 20, 2013

Northeast Office

BERGER ADDS 765 BROAD STREET TO NEWARK OFFICE PORTFOLIO

by admin May 20, 2013

NEWARK, N.J. — The Berger Organization, through 765 Broad Street Holdings, has acquired 765 Broad Street in Newark from 765 Henry Associates. The 200,000-square-foot, seven-story office building is located in the city’s central business district. Prudential developed the building, and its white marble façade matches the insurance company’s current world headquarters at the neighboring 751 Broad St. The now multi-tenant property, anchored by Cablevision and home to a Wells Fargo regional office and bank branch, was recently renovated with a new lobby, elevators, updated common area and building systems.

May 20, 2013

Northeast Office

COLLIERS ARRANGES 17,000 SF SUBLEASE IN NEW YORK CITY

by admin May 20, 2013

NEW YORK CITY — Colliers International has arranged a 17,000-square-foot sublease on behalf of Orange Business Services, taking up the entire 11th floor of 10 East 40th Street. The sublandlord, Blackboard Collaborate Inc., will be vacating the space, and Orange Business Services will relocate from its current location at 2 World Financial Center/Brookfield Place. Ted Rotante with Colliers International represented the subtenant in the transaction. Ken Ruderman and Nick Zarnin of Studley represented the sublandlord in the transaction. Orange Business Services is a global IT and communications services provider.

May 20, 2013

Office Western

NEW CHARLES SCHWAB CAMPUS BREAKS GROUND IN LONE TREE

by admin May 20, 2013

LONE TREE, COLO. – A new 467,000-square foot Charles Schwab campus has broken ground in Lone Tree. The $200-million campus will be situated on more than 40 acres in the RidgeGate community just southeast of Denver. It will allow the brokerage and banking company to consolidate three of its Denver service center facilities. The campus will contain a two-story retail branch building, two additional five-story office buildings and a 15,000-square-foot employee dining facility. It is striving for LEED-Gold certification. The project is scheduled for completion in the third quarter of 2014. It will be built by Mortenson Construction and designed by Fentress Architects.

May 20, 2013

Office Western

TRYPERION CLOSES $50M FUND FOCUSED ON WEST COAST PROPERTIES

by admin May 17, 2013

LOS ANGELES — Tryperion Partners, LLC recently closed its first fund, Tryperion RE Fund I, L.P., with $50 million of fully discretionary committed capital. The fund plans to pursue value-add acquisition and recapitalization opportunities. It will focus on existing assets in secondary markets throughout the West and Southwest that are positioned for economic growth. The fund plans to invest in and implement aggressive asset management strategies on office, retail, hospitality and multifamily properties. It is looking to acquire income-producing properties at a discount to both replacement cost and intrinsic value. Tryperion’s equity investments will be between $5 million and $15 million. Tryperion Partners was founded by Joseph Kessel, Eliot Bencuya and Jeffrey Karsh, former professionals at Canyon Capital Realty Advisors.

May 17, 2013

Office Western

HECKMANN CORP. LEASES 20,162 SF AT PINNACLE IN KIERLAND

by admin May 17, 2013

SCOTTSDALE, ARIZ. — Heckmann Corp. has signed a 10-year lease for 20,162 square feet at the Pinnacle in Kierland I in Scottsdale. The space is located at 14624 N. Scottsdale Road. The lease will commence in the third quarter of 2013. Heckmann Corp. was represented by CBRE’s Chuck Nixon. The landlord, Scottsdale Kierland Property LLC, was represented by Jim Watkins, Craig Coppola and Andrew Cheney of Lee & Associates.

May 17, 2013

Office Southeast

TECH COMPANY SIGNS 11,604 SF LEASE IN RALEIGH

by admin May 17, 2013

RALEIGH, N.C. — ICF Technology, a technology, management and policy consulting firm based in Fairfax, Va., has signed a new lease for 11,604 square feet of office space in Raleigh. The company plans to consolidate its two Raleigh-Durham offices into the Meridian Corporate Center, located at 2635 Meridian Parkway. Ryan Lawrence of Jones Lang LaSalle represented the tenant in the transaction.

May 17, 2013

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