Office

ALBRECHT BUYS 130,000 SF OHIO OFFICE PROPERTY

by admin January 28, 2013

TWINSBURG, OHIO — Albrecht Inc. has acquired a 130,000-square-foot office and warehouse property in Twinsburg, situated about halfway between Akron and Cleveland. Located at 1333 Highland Road, the 13-acre site was previously owned by Arsena Investments Co. It is two miles from the intersection of I-271 and Route 8, and three miles from I-480. The office section features marble floors and large-sized offices, while the warehouse includes 20-foot clear ceiling heights, sprinklers and high-efficiency fluorescent lighting.

January 28, 2013

GENERAL ATLANTIC TAKES 29,412 SF IN GREENWICH

by admin January 28, 2013

GREENWICH, CONN. — General Atlantic LLC, a private equity firm, has signed an 11-year lease for 29,412 square feet of office space at 600 Steamboat Road in Greenwich. The space is located within a 180,000-square-foot Class A building, located near I-95. Brian Higgins, Chris Kraus, George Walker and Ethan Rice of Jones Lang LaSalle represented the building owner, GRC Realty Corp. Robert Martin and Gil Ohls, also of Jones Lang LaSalle, represented the tenant.

January 28, 2013

Office Texas

TRAMMELL CROW, PREI TO DEVELOP NEW OFFICE BUILDING

by admin January 28, 2013

HOUSTON — Trammell Crow Co., in a joint venture with Principal Real Estate Investors (PREI), plans to develop the 456,000-square-foot Noble Energy Center Two, a 20-story office building that will serve as the headquarters for Noble Energy, in Houston's Northwest submarket. The property features an eight-story parking garage as well. Trammell Crow and PREI purchased the adjacent Noble Energy Center One and an adjacent land parcel for the development of Noble Energy Center Two in May 2011. The two properties will be connected via an elevated sky bridge. Construction is set to begin this summer with an expected completion in mid-2015. The development team, including Kirksey Architects, is aiming to achieve LEED Silver certification. Jim Arket and Mona Williams of James Arket and Co. represented Noble Energy in the lease transaction for the build-to-suit property. Aaron Thielhorn, Kevin Schmok and Brandon Houston of Trammel Crow, along with Joe Wanninger of PREI, will lead the development team.

January 28, 2013

Office Western

DOWNTOWN SAN DIEGO HIGH-RISE OFFICE BUILDING SELLS FOR $49M

by admin January 28, 2013

SAN DIEGO – A 359,218-square-foot, 24-story office building in Downtown San Diego has sold to a joint venture between Lincoln Property Company and Angelo, Gordon & Company for $49 million. The high rise is located at 600 B Street. It is 85 percent occupied. Notable tenants include the City of San Diego and Bridgepoint Education, as well as several law firms. This is Lincoln’s first acquisition in the area since it opening a San Diego office this past May.

January 28, 2013

Office Southeast

XEROX SIGNS LONG-TERM LEASE AT CRESCENT GREEN IN CARY, N.C.

by admin January 25, 2013

CARY, N.C. — KBS Real Estate Investment Trust I, a non-traded real estate investment trust headquartered in Newport Beach, Calif., has finalized a 154,519-square-foot office lease for Xerox Business Services LLC in Cary. Xerox, which was represented by Tom Flynn and Matthew Cooke of Jones Lang LaSalle, renewed its lease at the 248,823-square-foot Crescent Green. Ed Pulliam and John Brewer of CBRE-Raleigh represented KBS. Xerox Business Services, an affiliate of Xerox Corp., and its predecessor, Affiliated Computer Solutions, have been at Crescent Green since 2006.

January 25, 2013

Midwest Office

$75M RENOVATION OF HILLSHIRE BRANDS HEADQUARTERS COMPLETE

by admin January 25, 2013

CHICAGO — Work is complete on the $75 million renovation of 400 S. Jefferson St. in Chicago, which will serve as the new headquarters for Hillshire Brands Co., formerly known as Sara Lee Corp. The project included repurposing an existing, 300,000-square-foot industrial building, with crews demolishing the building to its cast-in-place concrete skeleton and rebuilding the new exterior. The project team included Leopardo, the general contractor; Sterling Bay Cos., the owner and developer; Proteus Group, the architect; Project Management Advisors, the project manager; and Colliers International, the tenant representative.

January 25, 2013

Northeast Office

$175M BROAD INSTITUTE EXPANSION TOPS OFF

by admin January 25, 2013

CAMBRIDGE, MASS. — Suffolk Construction has placed the final steel beam on the Broad Institute's 75 Ames Street expansion project. Suffolk is constructing a $175 million, 375,000-square-foot research and development facility in Kendall Square in Cambridge. The expansion will increase the Broad Institute's research space to 500,000 square feet. The new facility will provide a collaborative space where researchers can develop advancements in biomedicine. The project is scheduled for completion in January 2014.

January 25, 2013

Northeast Office

SES AMERICOM EXTENDS LEASE IN PRINCETON

by admin January 25, 2013

PRINCETON, N.J. — SES Americom has extended its lease for 79,000 square feet of office space at 4 Research Way in Princeton. The company, which owns and operates 52 geostationary communication satellites, uses the location as its U.S. headquarters. Marc Trevisan and Robert Rudin of Cushman & Wakefield represented the tenant in the transaction. The landlord, National Business Parks, was represented in-house by Vincent Marano and Tom Stange.

January 25, 2013

Office Texas

HILLWOOD BUYS EIGHT PROPERTIES IN FIVE MARKETS

by admin January 25, 2013

DALLAS — Dallas-based Hillwood Investment Properties, a Perot company, has formed a partnership with Brookfield Asset Management and the Hillwood-Brookfield Industrial Partners fund to purchase eight properties in five U.S. markets. The properties include three buildings totaling 750,000 square feet in the Chicago area; one building totaling 668,000 square feet in the Far South Counties submarket of Indianapolis; one building totaling 556,000 square feet in Desoto County; one building totaling 403,000 square feet in Atlanta's Airport/South submarket; and two buildings totaling 256,000, located in the Southwest Orange submarket of Orlando.

January 25, 2013

Office Southeast

PARKWAY PROPERTIES AGREES TO PURCHASE FLORIDA OFFICE PORTFOLIO FOR $130M

by admin January 24, 2013

JACKSONVILLE, FLA. — Parkway Properties Inc. has entered into a purchase and sale agreement to acquire an eight-property office portfolio totaling 1 million square feet in Jacksonville’s Deerwood submarket for $130 million. The properties were developed from 1996 to 2005 and are 93.7 percent occupied. Parkway also completed the previously announced purchase of Tower Place 200, a 260,000-square-foot office tower in Atlanta’s Buckhead submarket, for $56 million. The 13-story Class A Tower Place 200 was built in 1998 and is 82.9 percent occupied.

January 24, 2013

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