AUSTIN — The State of Texas has renewed its 73,621-square-foot lease at Summit Tech Center, located at 14000 Summit Drive in Austin. Daniel Farrar, Will Nichols and Sam Owen of Stream Realty Partners represented the landlord in the lease transaction.
SANTA ROSA, CALIF. – Medtronics has expanded its footprint in Santa Rosa. The medical device technology company has signed a new lease for a 62,865-square-foot building at 3880 Brickway Blvd., while extending its current lease term on the neighboring 63,720-square-foot building at 3850 Brickway Blvd. The Class A buildings were owned by Equity Office Properties (EOP) when the leases were executed, but have since been purchased by Basin Street Properties. EOP was represented by Jeff Negri, Niels von Doepp and Ryan Snow of Cassidy Turley.
COLUMBUS, OHIO — Accounting firm Clark, Schaefer, Hackett & Co. has signed an office lease for 18,363 square feet at 4449 Easton Way in Columbus. Randy Stephens and Doug Falor of CassidyTurley represented the landlord, Equity Office, in the transaction. Wayne Asmus of RJ Boll Realty represented the tenant.
CHARLOTTE, N.C. — A joint venture between Trinity Capital Advisors, Stockbridge Capital Group and Madison International Realty has acquired Toringdon 2, an office building in South Charlotte’s Toringdon Office Park. The joint venture owns four the park’s six office buildings including Toringdon 1, 2, 6 and 8 as well as 12 acres of land and the parking deck for Toringdon 3 and 5. Toringdon 2 is a 72,500-square-foot Class A office building with tenants Keller Williams, Coats and Metso Paper. The six-building Toringdon Office Park is a mixed-use master planned development with immediate access from I-485.
BEAVERCREEK, OHIO AND LIBERTYVILLE, ILL. — Griffin Capital Net Lease REIT has acquired two Midwest properties: a build-to-suit, Class A office property in Beavercreek for $17 million and a manufacturing and warehouse facility in Libertyville for $15.6 million. The office property is fully leased to Northrop Grumman Systems Corp. and is adjacent to the Wright-Patterson Air Force Base, the largest air force base in the U.S. The 194,000-square-foot industrial facility in Illinois serves as the North American corporate headquarters for Zeller Plastik USA. Zeller produces plastic closures and packaging components for food, beauty and beverage products. The complex is within the Lincoln Commerce Center business park.
PHILADELPHIA — The Philadelphia Parking Authority (PPA) has signed a $46 million office lease deal at the Mellon Independence Center, located at 701 Market St. in Philadelphia. Under the 25-year lease, PPA will occupy the fourth and fifth floors, as well as part of the sub-basement. The company plans to move from its current offices at 3101 Market St. in the fall of 2013. Tactix Real Estate Advisors represented the tenant in the transaction. Jay Ruder of Archer & Greiner P.C. served as PPA's attorney. The PPA will join BNY Mellon, the building's largest tenant.
NEW YORK CITY — LinkedIn Corp. has expanded its lease at the Empire State Building to more than 72,000 square feet on two full floors. The social networking website operator originally leased 32,000 square feet on the entire 25th floor in 2011. LinkedIn, which boasts more than 187 million members in 200 countries, plans to occupy the space in 2013. Sacha Zabra of CBRE Group represented the tenant in the transaction. William Cohen and Ryan Kass of Newmark Grubb Knight Frank represented the landlord, W&H Properties.
HOUSTON — HFF has brokered the sale of the 176,799-square-foot 777 Post Oak Boulevard, a nine-story office building located in Houston's Galleria/West Loop submarket. The property was renovated in 1998 and is fully leased. Robert Williamson and Rusty Tamlyn of HFF represented the seller, an institutional owner, in the transaction. Corby Chaffin of HFF also arranged acquisition financing on behalf of the buyer, an international investing real estate fund managed by Switzerland-based Credit Suisse AG. Washington, D.C.-base Lacy Ltd. advised Credit Suisse in the transaction.
SAN ANTONIO — Peloton Commercial Real Estate has arranged the sale of the 38,000-square-foot Brookhollow Atrium, an office building located at 1000 Central Parkway N. in San Antonio. Jason Adkinson and Scott Boynton of Peloton represented the seller in the transaction. Paul Fagan of San Antonio Commercial Advisors represented the buyer. Adkinson and Boynton brought the property to full occupancy prior to the sale.
NEW YORK CITY — A joint venture between Oxford Properties Group and Crown Acquisitions has acquired a significant interest in Olympic Tower, a 380,000-square-foot office building on Fifth Avenue in New York City. The 21-story tower is home to the National Basketball Association and approximately 120,000 square feet of retail, including Cartier and Versace. The seller was Williston S.A., a business operating arm of the Alexander S. Onassis Public Benefit Foundation. Last May, Crown Acquisitions acquired a 49.9 percent interest in Olympic Tower in a transaction valued at $1 billion, according to various media reports. Under the new agreement, the asset will be jointly owned by Oxford Properties, Crown Acquisitions and the Onassis Foundation. JP Morgan assisted Crown Properties with the joint venture.