BOSTON — The Boston Redevelopment Authority has approved plans for an 11-story office building on the South Boston waterfront, known as 1 Channel Center. The construction is reportedly $225 million and the building will contain 500,000 square feet. State Street Corp., a financial services company, has pre-leased the full office space. The project will also include the construction of a 980-space parking garage. Construction is scheduled for completion in February 2014.
TULSA, OKLA. — Dallas-based Prescott Realty Group has secured new and renewal leases totaling 167,000 square feet at 110 West Seventh Place Tower in Tulsa. Three new tenants have been added: an oil and gas exploration firm has leased 44,681 square feet, a major national bank has leased 21,961 square feet and Airgas Mid-South Inc., has leased 58,640 square feet. Additionally, Atlas Pipeline Mid-Continent has renewed its 42,164-square-foot lease. The 28-story, 521,854-square-foot Class A office building is 96 percent leased, with the average lease term being 101 months. The building offers building automation system, a top-floor conference room with panoramic views, 11 newly renovated elevators, on-site management and an attached 586-space parking garage. Michael Predovic and Derek Bateman of Trinity Corporate Real Estate represented the landlord in the transactions.
BALTIMORE — Lexington Realty Trust has arranged a $55 million loan for the 476,000-square-foot Transamerica Tower, an office building located in Baltimore. The mortgage loan carries a fixed interest rate of 4.32 percent. The Transamerica Tower is 95 percent leased.
THE WOODLANDS — JD Warmack LP. has started construction on the 12-story, 300,000-square-foot Research Forest Lakeside – Building 4, located in Research Forest Lakeside between Lake Woodlands and Research Forest drives in The Woodlands. JD Warmack is the owner/developer of Research Forest Lakeside. The speculative development is pre-certified LEED Gold and the existing features include water fountains and a seven-story parking garage. Ziegler Cooper Architects and Odell Associates designed the property, as well as the rest of the office properties in the works at the 76-acre site that fronts Lake Woodlands. David E. Harvey Builders is the general contractor; Haynes Whaley is the structural engineer; DBR, MEP and Jones Carter are the civil engineers; and Clark Condon Associates is the landscape architectural firm. Talisman Energy has pre-leased six floors of the property.
FORT WORTH — Dallas-based KDC has plans to construct a 75,000-square-foot property, located at 4805 Amon Carter Blvd. on a 8.1 acre site in The CentrePort Business Park in Fort Worth. The property will house NBC 5/KXAS-TV, Telemundo/KXTX-TV and several businesses affiliated with NBC Universal. As part of the agreement to build the new building, NBC 5 will convey its current 66,000-square-foot building and 26-acre site in east Fort Worth to the city. Corgan Associates designed the property, and Gary Collett and Matt Heidelbaugh of Cushman & Wakefield brokered the land sale. KDC will break ground on the property at the end of June, and the firm is anticipating a late 2013 completion.
COLUMBIA, MD. — The Archon Group has purchased the 215,662-square-foot Lakeview I & II, a four-building office portfolio located at 9801, 9821, 9841 and 9861 Broken Land Parkway in Columbia, for $30.2 million. The portfolio is 79 percent leased. Jonathan Carpenter and James Wellschlager of Cassidy Turley represented the seller, the Goldstar Group, in the transaction.
INDIANAPOLIS — Sourwine Real Estate Services has broken ground on an 80,699-square-foot, multi-tenant office building at 8335 Keystone Crossing in Indianapolis. The three-story building will include 25,000 square feet per floor. Sourwine will own, develop and manage the building. The project marks the first fully speculative commercial real estate development in the Indianapolis area since 2008.
NEW YORK CITY — Jewelry producer Majorica has signed a 10-year office lease renewal at the New York Accessories Exchange building at 366 Fifth Ave. in New York City. Majorica makes organic pearl jewelry from the island of Majorca, Spain. Majorica is sold in department stores and jewelry stores across the U.S. and worldwide. The company leases 4,600 square feet on the fifth floor. Davidoff Malito & Hutcher LLP represented Majorica in the transaction. Rick Brickell of NYAE represented the landlord.
WESTON, MASS. — Health Advances has signed a 7-year lease renewal and expansion of its corporate headquarters on Nine Riverside Rd. in Weston. The healthcare strategy and consulting firm will increase its space by 9,907 square feet to a total of 31,832 square feet. John Boyle and Michael O’Leary of Cassidy Turley FHO represented Health Advances in the transaction. Andrew Majewski and Matthew Siciliano of CBRE/New England represented the landlord.
SOMERSET, N.J. — Pacific Controls Inc. has purchased 100 Franklin Square Dr., a 108,410-square-foot office building in Somerset. Pacific Controls, a communication technology company, plans to occupy vacant space on the top two floors of the property. The Class B property is 33 percent leased. Shawn Straka of Jones Lang LaSalle represented Pacific Controls in the transaction.
