Office

DIVCOWEST BUYS TWO DOWNTOWN AUSTIN OFFICE BUILDINGS

by admin October 8, 2012

AUSTIN — DivcoWest has purchased the Littlefield and Scarbrough buildings, two office properties totaling approximately 240,000 square feet at Sixth and Congress streets in downtown Austin. DivcoWest bought the historic office buildings from Heitman LLC. The Littlefield Building is 86 percent leased to tenants such as Capital One and HQ Global. The Scarbrough Building is 93 percent leased to retail tenants Gold's Gym, Brooks Brothers and Ruth's Chris Steakhouse, as well as office tenants Frog Design and WeissComm Group.

October 8, 2012

THREE-STORY OFFICE PROPERTY IN MIDTOWN HOUSTON SELLS

by admin October 8, 2012

HOUSTON — A historic three-story, 6,122-square-foot office property, located at 3006 Brazos St. in midtown Houston, has been sold. The office building is also known as the Judge Tom Mullins Building. Christopher Dray of Moody Rambin's Investment Services Group represented the seller, James Patrick Smith PC, in the transaction. Jay Wall of Moody Rambin's Tenant Rep Services represented the buyer, Dunn, Neal & Gerger LLP.

October 8, 2012

Office Southeast

DOCTOR’S OFFICE PURCHASES 8,000 SF SPACE IN RALEIGH, N.C.

by admin October 5, 2012

RALEIGH, N.C. — Dr. Michael Thomas with Carolina Endocrine has purchased an 8,245-square-foot office space at 3840 Ed Dr. in Raleigh for $1.4 million. Cresa’s Sam DiFranco, a founding principal of the corporate real estate advisory firm, in Cary, N.C., represented Dr. Thomas and Carolina Endocrine. Janet Clayton of Grubb & Ellis’ Chapel Hill, N.C., office represented the seller, Rexview Building B LLP.<

October 5, 2012

Midwest Office

144,000 SF FACILITY EXPANSION BEGINS FOR POLARIS

by admin October 5, 2012

WYOMING, MINN. — Ryan Cos. has broken ground on a 144,000-square-foot expansion of the Polaris Industries Inc. Product Development Center in Wyoming. The expansion will more than double its existing 126,000-square-foot facility, which Ryan constructed in 2005. The $20 million project is expected to be completed in August 2013. Pope Architects is the project architect. The new space will feature large work bays for off-road vehicles, conference and display spaces and a new electrical lab.

October 5, 2012

Midwest Office

GE TRANSPORTATION MOVES HEADQUARTERS TO 500 W. MONROE

by admin October 5, 2012

CHICAGO — GE Transportation, a unit of General Electric Co., will move its headquarters from Erie to 500 W. Monroe in Chicago. The company will occupy 53,972 square feet of space on the 23rd and 24th floors at the building. 500 W. Monroe is a 1 million-square-foot office tower in the city's West Loop. Steve Smith, Gary Kostecki and Brad Despot of Jones Lang LaSalle represented the building owner, Piedmont Office Realty Trust, in the transaction. Jeff Samaras of Cushman & Wakefield represented the tenant.

October 5, 2012

Northeast Office

CABLE OPERATOR SIGNS 75,000 SF LEASE IN STAMFORD

by admin October 5, 2012

STAMFORD, CONN. — Charter Communications has signed a 75,000-square-foot office lease at 400 Atlantic St. in Stamford. The cable operator will occupy space on two floors of the 15-story tower, and is expected to create 200 new jobs. Charter provides advanced video, high-speed Internet and telephone to approximately 5.2 million residential and business customers in 25 states. The company's new space is located across from the Stamford Train Station and is 35 minutes from Manhattan. Additional tenants in the building include UBS and American Express. David Block and Steven Greenbush of CBRE Group represented the landlord, The Landis Group, in the transaction.

October 5, 2012

Office Western

KILROY BUYS COLUMBIA SQUARE, TRIBECA WEST IN LA

by admin October 4, 2012

LOS ANGELES — Kilroy Realty Corporation (KRC)has purchased Columbia Square, a historic Hollywood media campus, and Tribeca West, a West Los Angeles entertainment-oriented office property, for a total of $138 million. Columbia Square sold for $65 million, while the acquisition of Tribeca West is expected to close early in the fourth quarter for $73 million. Tribeca West is a 151,000-square-foot, three-story office campus that is currently 96 percent leased.The Columbia Square acquisition included a 96,000-square-foot campus that contained three historic office buildings. It was the former home of the CBS network’s Los Angeles radio and television operations. The 4.7-acre site is fully entitled for an office, retail and multifamily mixed-use project under a 15-year development agreement. KRC is planning a multi-phase redevelopment and development that would upgrade its existing office buildings and add 550,000 square feet of office, retail and residential space to the campus. The $300-million project is scheduled to begin in mid-2013. Phase I is expected to be complete in 2015.

October 4, 2012

Office Western

CP KELCO RENEWS LEASE AT KEARNY MESA OFFICE/R&D BUILDING FOR $2.2M

by admin October 4, 2012

KEARNY MESA, CALIF. – CP Kelco has signed a five-year lease renewal for a 27,605-square-foot office and R&D building in Kearny Mesa. The lease renewal is valued at $2.2 million. The space is located at 8225 Aero Drive. CP Kelco, which has occupied the building for 10 years, uses the space for manufacturing, customer service, sales and technical support. The space is owned by Westcore Properties. Neither party retained broker representation.

October 4, 2012

Midwest Office

AON SIGNS 396,406 SF LEASE IN CHICAGO'S EAST LOOP

by admin October 4, 2012

CHICAGO — Aon has signed a 15-year lease for 396,406 square feet of office space at 200 E. Randolph St. in Chicago. After 14 years as a sublease tenant in the 83-story East Loop Tower, the global risk management firm will enter a new direct lease agreement beginning Dec. 2013. Opened in 1972, the Aon Center features a 205-seat auditorium and views of the city and Lake Michigan. Meredith O'Connor of Jones Lang LaSalle and Greg Gerber of Studley represented the tenant in the transaction. Steve Smith and Mike Curran of Jones Lang LaSalle represented the owner, Piedmont Office Realty Trust.

October 4, 2012

Northeast Office

MERRIMACK PHARMACEUTICALS RENEWS, EXPANDS LEASE

by admin October 4, 2012

BOSTON — Merrimack Pharmaceuticals, a biopharmaceutical company, has renewed and expanded its laboratory and office lease to 109,312 square feet at One Kendall Square, Building 700 in Cambridge. The company is expanding its space by 25,000 square feet. The One Kendall Square campus consists of nine buildings and the site is a short walk to the MIT campus. Joe Flaherty, Jim Elcock, Tucker Hansen and Ben Coffin of Colliers International represented the tenant in the transaction. J. Duncan Gratton of Cassidy Turley FHO represented the landlord, The Beal Cos.

October 4, 2012

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