NEW YORK CITY — The New York Compensation Insurance Rating Board (NYCIRB) has signed a 15-year lease for approximately 45,000 square feet at 733 3rd Ave. in New York City. The tenant will be expanding from its previous offices, which are located at 655 3rd Ave. The Durst Organization is the landlord of both properties and will be marketing the space at 655 3rd Ave., since NYCIRB has 2 years remaining on its lease there. The space at 733 3rd Ave. will be ready for occupancy by the end of the year. James Gross of Williamson Picket Gross represented NYCIRB in lease negotiations. Durst provided in-house representation. Stroock & Stroock & Lavan LLP provided legal representation on behalf of NYCIRB, and Patterson Belknap represented Durst.
NEW YORK CITY — Construction is currently under way for the headquarters building of American Stock Transfer & Trust in Brooklyn, New York City. The project will focus on making the 145,600-square-foot building more sustainable. Energy-efficient mechanical, electrical and HVAC systems will be installed. The four-story building will also make better use of natural light. Other renovations will include a redesign of the building's façade, a new main entrance and new office layouts. W. Lerman Architects is designing the project. Completion is slated for the fourth quarter.
NEW YORK CITY — Aragon Construction has begun the tenant build-out for European Investor's new office at Rockefeller Center in New York City. The tenant will occupy 20,000 square feet on the eighth floor of the building, which is located at 640 Fifth Ave. Ted Moudis Associates is serving as project architect. European Investors is currently located at 717 Fifth Ave. and will take occupancy upon completion of the build-out in September. Rockefeller Center stands 22 stories tall and houses tenants such as H&M, Citibank and Fidelity Investments.
HOUSTON — Studely has signed a 15,000-square-foot office lease with Brookfield Properties for space in the 1.19-million-square-foot Three Allen Center. The downtown Houston property will serve as Studley's new Houston office, and the move more than doubles the firm's space. Studley represented itself in the 10-year lease. The landlord also had in-house representation.
SEATTLE — Vulcan Real Estate has completed the second phase of Amazon.com’s corporate headquarters in Seattle’s South Lake Union neighborhood. Located on the east side of Boren Avenue N. between Mercer and Republican streets, the new five-story building features 158,000 square feet of office space and 14,000 square feet of street-level retail space. LMN Architects designed the development for LEED Gold certification; Sellen Construction was the contractor.
WASHINGTON, D.C. — The U.S. Parole Commission has signed a 36,438-square-foot lease at the 412,661-square-foot Sentinel Square I/90K Street. The Class A office property, which is located at the intersection of K and 1st streets in Washington, is owned by Trammel Crow Co., Crow Holdings Realty Partners IV and Cottonwood Partners. The tenant will move into the first and third floors early next year. The General Services Administration's Joel Bereleson and Sean McNeal assisted Studley's Neil Levy and Julie Rayfield in representing the tenant.
HOUSTON — Tanner McGraw of Marcus & Millichap's Houston office has brokered the $4.3 million sale of Nanes Professional Building between two undisclosed parties. The 55,888-square-foot property, which was constructed in 1984, is located at 17030 Nanes Drive in Houston.
MANLIUS, N.Y. — Realty USA has acquired a 20,000-square-foot, Class A office building in Manlius for $1.72 million. Located at 102 W. Seneca Turnpike, the building houses medical and professional office space. The lead tenant is Internist Associates of Central New York. Realty USA plans to occupy the building's vacant 5,000 square feet of space. Peter Finn of CB Richard Ellis/Syracuse represented the seller, a Syracuse, N.Y.-based investment group. Louie Fournier of Sutton Real Estate assisted in the deal.
RANDOLPH, MASS., AND ROCHESTER, N.H. — Newton, Mass.-based Ashworth Mortgage Corp. has arranged $14.7 million in first-mortgage financing for a New England office and industrial portfolio. The first part of the portfolio includes two office buildings totaling 102,367 square feet that are located at 14 and 15 Pacella Drive in Randolph. The second part of the portfolio includes a two-building, 211,092-square-foot industrial complex located at 7 Amarosa Drive in Rochester. The loans carry fixed interest rates, a 10-year term, a 25-year amortization schedule and rate resets at the end of the fifth year. The borrower was undisclosed, and the lender was a banking institution.
BELLEVUE, WASH. — Cole Real Estate Investments has acquired the 583,179-square-foot City Center Plaza, a Class A office tower in Bellevue, for $310 million. Ninety-six percent leased to Microsoft through 2024, City Center Plaza is situated at the entrance to the Bellevue central business district and adjacent to the Bellevue Transit Center. Eastdil Secured’s Jeffrey Weber, Stephen Van Dusen and Jason Flynn represented the seller, Beacon Capital Partners, in the all-cash transaction; Cole was represented in-house by Kim Kundrak and Boyd Messmann. Constructed in 2008 and home to Microsoft’s Bing division, the office tower is LEED Gold certified.