RED BANK AND CLARK, N.J. — Edison, N.J.-based Mack-Cali Realty Corp. has received a total of $64.5 million in financing for two New Jersey office properties. In the first transaction, Mack-Cali secured $44.9 million for One River Centre, a three-building office complex located at 331 Newman Springs Rd. in Red Bank. The property contains approximately 480,000 square feet of Class A space. In the second transaction, Mack-Cali secured $19.6 million for a 182,555-square-foot, Class A office building located at 100 Walnut Ave. in Clark. Both loans carry 10-year terms and 7.25 percent interest rates. The lender was Guardian Life Insurance Company of America.
NEW YORK CITY — Rudin Management Co. has secured a lease for the expansion of Verizon Business Services at 560 Lexington Avenue, a 22-story office tower located in Manhattan, New York City. Verizon will lease an additional three floors totaling 49,815 square feet for a 7-year term. This brings its total space leased in the building to seven floors comprising approximately 116,000 square feet—making it the largest tenant in the tower. Thomas Keating of Rudin Management Co. represented the landlord, the Rudin Family. Cushman & Wakefield’s Jeffrey Heller represented Verizon.
RENO, NEV. — Los Angeles-based Majestic Bell LLC, an affiliate of Majestic Investments LLC, has acquired an 82,934-square-foot office building in Reno for $12 million. Situated on a 6.21-acre site, the property is fully occupied by AT&T, which signed a 10-year NNN lease at closing of escrow. Majestic was represented by Cameron Pacific, the acquisition and finance arm of Majestic Investments; AT&T was represented by CB Richard Ellis. The seller was not disclosed.
GREENVILLE, S.C. — Malvern, Pa.-based Liberty Property Trust has sold a 300,000-square-foot portfolio of six Class A office buildings to an undisclosed buyer for $35 million. The space is located in the Independence Corporate Park in Greenville. Ryan Clutter of CB Richard Ellis’ Charlotte, N.C., office represented the seller.
CHICAGO — IDEO, a global innovation and design firm, has signed a lease for 20,442 square feet within an eight-story redeveloped office building located at 626 W. Jackson Blvd. in Chicago’s West Loop. Chicago-based Sterling Bay Cos., in partnership with The Deitcher Group, owns the 107,977-square-foot building. IDEO is the first tenant signed at the building since it underwent major capital improvements that encompassed common areas and building systems. Palo Alto, Calif.-based IDEO will take occupancy on floors seven and eight of the building in the third quarter. Lisa Konieczka of CB Richard Ellis represented IDEO in lease negotiations. Terms of the lease were not disclosed.
SAN ANTONIO — Grubb & Ellis has brokered the acquisition of Summit IV Building, an approximately 25,000-square-foot office building located at 5805 Callaghan Rd. in San Antonio. Grubb & Ellis’ Jerry Williams, Jason Brumm and Maggie Nigro, along with Ginger Unger of Secor One Commercial Group, represented the buyer, United Community Investors. Dan Gostylo of Providence Commercial represented the seller, Paul A. Violich Inc. Trust. The acquisition price was not disclosed.
INDIANAPOLIS — NAI Olympia Partners has brokered the sale of a 67,267-square-foot office building located at 9550 Zionsville Rd. in Indianapolis. L&R Acquisitions has purchased the building from Ameriplex Northwest Partners for an undisclosed amount. The facility is fully leased to DCL Medical Laboratories. Janice Paine and Jason Speckman with NAI Olympia Partners’ Investment Properties Team represented the seller in the transaction.
DUBLIN, OHIO — The CareWorks Family of Companies has renewed its existing leases and has signed leases for additional space within Duke Realty Corp.’s Tuttle Crossing office park located in Dublin. CareWorks has renewed it 82,472-square-foot lease, and has leased an additional 8,632 square feet of space within a Class A office building located at 5555 Glendon Court. With the new lease, the four-story 132,854-square-foot building is fully occupied. Also in Tuttle Crossing, CareWorks has renewed its 35,653-square-foot lease and has leased an additional 7,133 square feet of space at 5500 Glendon Court. As part of the lease agreement, Duke has completed a build out of the new space and will refurbish portions of CareWorks’ existing space.
BEVERLY, MASS. — Cummings Properties has received the Environmental Protection Agency’s Energy Star designation for 900 Cummings Center, a 200,000-square-foot office building located in Beverly that is owned and managed by Cummings Properties. The facility is the first of its kind in Beverly to receive the Energy Star label and the fifth property in Cumming’s portfolio to do so.
HOUSTON — WorleyParsons Group has signed a long-term lease for 141,000 square feet at Energy Center II, a 12-story, 305,000-square-foot, Class A office building located in Houston. The company will occupy the top five floors of the building, as well as have a reception area and conference facilities on the ground floor. The space will be used as the company’s U.S. corporate headquarters and for the consolidation of its Houston upstream oil and gas operations. WorleyParsons Group was represented in lease negotiations by Lou Cushman and Courtney Estenson of Cushman & Wakefield of Texas. The owner, a joint venture between Dallas-based Trammell Crow Co. and Principal Real Estate Investors, was represented by Steve Rocher of CB Richard Ellis. Energy Center II was completed this month. It features a fitness center, a deli and structure parking. It is in the process of applying for LEED-Gold certification. It sits adjacent to Energy Center I, the first phase of the project that was completed in January 2008. Energy Center I is presently the largest speculative office building in Houston to receive LEED-Silver certification.