MIRAMAR, FLA. — Riviera Point Holdings has broken ground on the $17 million, 70,000-square-foot Professional Center at Riviera Point, a two-building office complex located on University Drive in Miramar. The first building is funded by $7.5 million from investors from Venezuela, Argentina and Spain through the EB-5 program. Boca Raton, Fla.-based Corrales Architectural Group designed the property and Cushman & Wakefield has been retained as the leasing agent. The first building is slated for completion in February 2013.
ROCHESTER, N.Y. — Pike Co. has broken ground on a 109,000-square-foot office building in Rochester. Arkansas-based network communications provider Windstream will fill the first two floors of the three-story building when the facility opens next summer. The company signed a 15-year lease for 66,667 square feet. More than $122 million in public funds have gone into the demolition and continued prep of the 9-acre site. Pike is investing $19 million to redevelop the building. An underground service tunnel, garage, above-ground street grid and sidewalk are also planned for the site.
WASHINGTON, D.C. — The 522,000-square-foot Terrell Place, located at 575 7th St. NW, has achieved LEED Platinum certification for Existing Buildings: Operations & Maintenance. Beacon Capital Partners and General Electric Pension Trust own the property, which is the first trophy office building to receive this designation. Cassidy Turley's Sustainability Services team handled the project management.
CONCORD, MASS. — Welch's, the juice and jelly maker, is moving its headquarters but will remain in Concord. The company will relocate to an 85,000-square-foot space at 300 Baker Ave. Welch's is currently based on the other side of town at 575 Virginia Rd., near Hanscom Field. The company signed a 12-and-a-half year lease with the building owner, Normandy Real Estate Partners. Welch's will also consolidate its Billerica technology center into the new headquarters. Cassidy Turley FHO advised Welch's on the transaction.
TRUMBULL, CONN. — The 42,000-square-foot office building at 126 Monroe Turnpike in Trumbull has been converted to medical use. The building's owner, Silverman Group, has named Cushman & Wakefield's healthcare practice group as the leasing agent for the building, which is currently 75 percent leased.
HOUSTON — Hines has brokered the lease of 33,394 square feet of office space at the 629,000-square-foot Phoenix Tower, a 34-story office building located at 3200 Southwest Freeway in Houston. The building is now 82 percent leased. Chip Horne of Cushman & Wakefield of Texas' Houston office represented the tenant, New York Life, in the lease transaction. Tyler Garrett and Paula Bruns of Hines' Houston office represented the building owner, FSP Phoenix Tower Limited Partnership.
SANTA FE, N. MEX. — Marquez Plaza, a 37,841-square-foot office building in Santa Fe, has sold to YMC New Mexico Properties, LLC, an affiliate of Yonezawa-Miller Company, for $6 million. The plaza is currently 100 percent leased to the State of New Mexico and UBS. YMC was represented by Craig Yonezawa of Pathfinder Capital. The seller was represented by Joel White of CBRE's Albuquerque office.
PHOENIX — Entrust Bankcard has signed a seven-year lease for 17,797 square feet in a Class A office building located at 5055 E. Washington Street in Phoenix. The company plans to house its administrative offices, training center, executive space and sales operations at the new office beginning in June. This lease will bring the building’s occupancy to 91 percent. Entrust was represented by David Carder and Luke Walker of CBRE’s Phoenix office. The building’s developer and landlord, Irgens Development Partners, was represented by Steve Kohls and Adam Tolson of Lee & Associates in Phoenix.
BALTIMORE — St. John Properties’ 71,000-square-foot headquarters building, located at 2560 Lord Baltimore Dr. in Baltimore, has received LEED Gold certification. The two story property includes green features such as a high-efficiency HVAC system, high performance windows, sustainable lavatory fixtures, a white thermoplastic polyolefien roofing system, wetland/forest preserves, drought-tolerant landscaping and low VOC paints, carpets and adhesives. The building is St. John Properties’ 14th project to receive LEED certification.
SKOKIE, ILL. — Turner Acceptance Corp., an auto loan company, has leased 40,816-square-foot at 4900 Howard in Skokie. The company is relocating from a smaller facility in Evanston. Whit Heitman, Sam Badger and Brad Weiner of Paine/Wetzel/TCN Worldwide represented the landlord, Walker Partners LLC, in the transaction. Baum Realty represented the tenant.