SAN FRANCISCO — A fully pre-leased office tower has broken ground in San Francisco. It is located at 350 Mission Street across from the new Transbay Transit Center and Millennium Tower. Salesforce.com will fully occupy the glass and concrete office tower once it’s completed in 2015. The $200-million tower is being developed by Kilroy Realty Corporation.
MORRIS TOWNSHIP, N.J. — China Construction America Inc. has purchased 445 S. St., a 320,274-square-foot, Class A office building in Morris Township, for $71 million, or more than $221 per square foot. The four-story building is located in Southgate Corporate Park, about 23 miles west of Newark. Lead tenants in the building include The Travelers Indemnity Co. (105,698 square feet) and Marsh USA (54,376 square feet). Andrew Merin, Gary Gabriel, David Bernhaut and Brian Whitmer of Cushman & Wakefield represented the seller in the transaction, while Geoff Schubert and Dorothy Chuang of CBRE represented China Construction America.
PHILADELPHIA — Beneficial Bank has signed a 15-year lease for 95,764 square feet on four floors at 1818 Market St. in Philadelphia. The 1 million-square-foot high-rise, owned by Sovereign Capital Management Group, will be renamed 1818 Beneficial Bank Place. Beneficial Bank, one of the biggest and oldest banks headquartered in Philadelphia, will relocate its headquarters from 530 Walnut St. to the new location in February 2014. David Binswanger, Joe Muldoon and Chris Lange of Binswanger represented Beneficial Bank in the transaction.
QUINCY, MASS. — Grossman Cos. Inc. has signed a five-year lease for 7,195 square feet at One Adams Place in Quincy. Constructed in 1986 and renovated in 2004, One Adams Place is a five-story, 124,777-square-foot Class A office building. Sean Teague and Kate McGovern of Cassidy Turley represented the landlord, CommonWealth REIT, in the transaction. Michael Olson of Grossman Cos. represented his company. Reit Management & Research LLC Real Estate Services manages One Adams Place. Grossman Cos. is a commercial real estate investment, management and brokerage company.
HOUSTON — Exxon Mobil Corp. has appointed HFF as the advisor in the sale of the ExxonMobil Chemical Co. Headquarters campus in Houston's Energy Corridor. The 352,170-square-foot campus is located on a 35-acre lot at 13501 Katy Freeway and features 1,000 feet of frontage on I-10 and 800 feet of frontage on Memorial Drive. Robert Williamson and Davis Adams of HFF are representing ExxonMobil Chemical Co. Wally Reid and Colby Mueck of HFF will lead the debt placement team. ExxonMobil Chemical Co. is a division of Exxon Mobil Corp.
ANN ARBOR, MICH. — Colliers International has completed the sale of the former Borders corporate headquarters in South Ann Arbor. The 330,000-square-foot office complex includes two buildings and had a listing price of $18.3 million, according to AnnArbor.com. The property is located at 100 Phoenix Drive, just south of I-94. Colliers International Ann Arbor represented the seller, Modern Woodman of America, in the transaction. Gold Star Mortgage has signed a lease for 65,000 square feet. Colliers was hired to lease out the remaining vacant space. The buyer was undisclosed.
DALLAS — Stream Realty Partners has arranged a lease renewal, including an expansion and extension, at Lakeside Tower, a 200,000-square-foot office in Richardson, a suburb of Dallas. The eight-story office building is 98 percent occupied and is located at 2350 Lakeside Blvd. in Richardson. Texas Capital Bank will occupy 170,000 square feet at Lakeside Tower, an increase of 50,000 square feet. Tommy Nelson and Jeff Schweitzer of Stream Realty Partners represented the landlord, TriGate Capital, in the lease renewal and expansion. Terry Quinn and Eddie Tillman of Cresa Dallas provided tenant representation for Texas Capital Bank.
THE WOODLANDS, TEXAS — The Woodlands Development Co. has inked a 8,494-square-foot lease with Kona Grill at 3 Waterway Square in The Woodlands. The Class A building is an 11-story, 234,000-square-foot office property located at the corner of Lake Robbins and Woodloch Forest drives in the Waterway Square District of The Woodlands Town Center. Construction of Kona Grill will begin after the completion of 3 Waterway Square, which is slated for this summer. Boston-based Elkus Manfredi designed the property. Debbie Adams of EDGE Realty Partners represented Kona Grill in the lease transaction. The Woodlands Development Co. was self-represented by Rip Reynolds of The Howard Hughes Corp. The site will be Kona Grill's second Houston-area location.
VANCOUVER, WASH. – A 39,567-square-foot building that used to house the Vancouver City Hall has sold to Northwest Property Resources, LLC for $2 million. The building is located near the IQ Credit Union building and the Vancouver Community Library in Downtown Vancouver. City Hall had occupied this location for 44 years. Northwest Property plans to renovate the space before converting it into a multi-tenant office building. The seller, Vancouver Public Schools, was represented by Charlie Kleier and Doug Bartocci of NAI Norris, Beggs & Simpson.
CENTENNIAL, COLO. — Sierra Nevada Corp. has leased 85,935 square feet of office space in Centennial. The office is located at 11551 E. Arapahoe Road. Sierra Nevada was represented by Todd Wheeler of Cushman & Wakefield. The landlord, GECMC 201-3 Arapahoe Office, was represented by Dan Miller, Doug Wulf Jeff Halsey and Jim Brady of Cassidy Turley Colorado.