TREVOSE, PA. — The grand opening has been held for the first building at Horizon Corporate Center in Trevose. Horizon II is a Class A office building located at 3800 Horizon Blvd. It is one of five buildings that will ultimately be built at the park, which will contain more than 1 million square feet of development. The building is also LEED-certified, as will be the rest of Horizon Corporate Center. Upon full build-out, it will be the largest LEED-certified corporate campus in the greater Philadelphia area. The project is being developed by King of Prussia, Pa.-based O’Neill Properties. The LEED architect is Cubellis.
ISELIN, N.J. — The New Jersey office of FirstService Williams (FSW) has completed four major leases at Woodbridge Corporate Plaza, a six-building office campus located in Iselin. Drew Persson of FSW represented the landlord, KBS Realty Advisors, in each transaction. EPCOS signed a 10-year lease for 18,500 square feet. Ed Duenas and Lauren Rufino of Cushman & Wakefield represented the tenant. H&M Transportation signed a 7-year lease for 15,000 square feet. Grubb & Ellis’ Frank Loprioni and John Donnelly represented the tenant. Concentra Health signed a 5-year lease for 15,000 square feet. Matt Saker of CB Richard Ellis represented the tenant. Bank of Tokyo signed a 10-year lease for 10,500 square feet. In addition, Persson signed 11 additional leases totaling 75,000 square feet within the office campus, bringing the total square footage of space leased to 135,000 square feet.
GAITHERSBURG, MD. — Broad Street Ventures has received a $7.8 million loan to fund its acquisition of a 50,000-square-foot office building from an undisclosed party. The Class A property is located on 4.9 acres of land at 950 Wind River Lane in Gaithersburg. The 5-year loan carries a 25-year amortization. Walker & Dunlop secured the loan. The borrower has also leased the entire building to Gaithersburg-based MedImmune for 10 years.
KING OF PRUSSIA AND EXTON, PA. — Philadelphia-based BPG Properties has leased 89,817 square feet of office space at Executive Terrace, the company’s Class A office building located in King Of Prussia, to Fiserv Automotive Services. The long-term lease almost doubles the amount of space Fiserv occupies within the four-story, 131,057-square-foot building. The occupancy rate for Executive Terrace is now 91 percent. Phil McCarthy and Kevin McShea of Transwestern represented the tenant. The landlord was represented by John Perkins of Grubb & Ellis. As part of the transaction, an affiliate of BPG will acquire 1250 Drummers Lane, a three-story, 58,000-square-foot office building located in Exton. The Class A building is currently owned and occupied by USERS, a division of Fiserv. USERS plans to relocate to Executive Terrace in the fourth quarter of this year. Perkins will handle leasing for this property as well.
DENVER — 6143 South Willow LLC has purchased the 46,368-square-foot Orchard One office building from Orchard One LLC for $4.37 million. Orchard One is located in the Denver Technological Center at 6143 S. Willow Dr. in Denver. Current tenants in the office building, which is 96 percent occupied, include CIS Insurance Group, Lang & Co., M&T Bank and Charter Financial Resources. David Shapiro of Transwestern represented the buyer.
LAKE MARY, FLA. — West Palm Beach, Fla.-based Mariner Asset Management Services will break ground on the 72,400-square-foot The Hills of Lake Mary Professional Centre, a LEED Platinum office campus, later this year. In addition to its green status, the property, which is located at 4903 CR 46A in Lake Mary, will be 100 percent carbon neutral. Green features include solar energy generation and storage, an energy efficient HVAC system and power usage monitoring. The architecture firm Gensler designed the property.
NORFOLK AND CHESAPEAKE, VA. — Bethesda, Md.-based First Potomac Realty Trust has secured three leases with two tenants totaling 97,400 square feet. Verizon Virginia has renewed leases at Norfolk Commerce Park II and Norfolk Business Center totaling 58,200 square feet. Norfolk Commerce Park II, located at 5301 Robin Hood Rd. in Norfolk, and Norfolk Business Center, located at 2551 Eltham Ave. in Norfolk, total 218,945 square feet. Corinthian Colleges has also renewed its 26,900-square-foot lease and leased an additional 12,300 square feet of space at Greenbrier Circle Corporate Center. Located at 1081 Sara Dr. in Chesapeake, the center encompasses 229,163 square feet in two buildings.
WASHINGTON, D.C. — The Seattle-based law firm Davis Wright Termaine has leased 49,814 square feet of office space in Washington. The property, located at 1919 Pennsylvania Ave., is owned by SITQ and Tishman Speyer. The firm will occupy the entire eighth floor and a portion of the seventh floor when it moves into the new space in July 2010. The firm is currently located in the building, but this new lease allows the company to consolidate and expand. Brokers from Woodmark, CB Richard Ellis and Century Pacific represented the tenant.
MILWAUKEE — The Milwaukee office of Siegel-Gallagher • ONCOR International has negotiated the sale of Granville Professional building in Milwaukee for $1.75 million. The building contains 33,443 square feet of office space and is located at 9001 N. 76th St. John Dulmes of Siegel-Gallagher represented the seller, Granville Professional Building LLP. The property was acquired by K&K Holdings Granville WI LLC for an undisclosed amount.
NEW YORK CITY — Perkins + Will has expanded its lease at 215 Park Avenue South in Manhattan, New York City, to 40,260 square feet. The firm was operating from 16,500 square feet on the fourth floor with an additional 7,260 on the 18th floor. It has now subleased an additional 16,500 square feet on the entire sixth floor from immigration attorneys Binder & Binder until 2015 (following which it will become a direct lease), and extended its fourth floor lease to become co-terminus with the expiration of the sixth floor. Howard Tenenbaum and Gary Rosen represented both the landlord, SL Green, and Perkins + Will in the transaction. Situated in the heart of Union Square at 18th Street, 215 Park Avenue South is a 300,000-square-foot property that spans 20 stories.