CHICAGO — Jones Lang LaSalle (JLL) has negotiated four leases totaling approximately 200,000 square feet within One Financial Plaza in downtown Chicago. JLL’s Michael Curran and Mark Gunderson represented building owner Behringer Harvard, which owns the property via its Behringer Harvard REIT I Inc. investment program, in the lease transactions. Chicago Trading Company signed a new 87,400-square-foot lease within the 40-story, approximately 1 million-square-foot tower. The tenant is relocating from the Chicago Board of Trade Building in May 2010, and will be moving into One Financial Place’s trading floors, as well as the fourth and fifth floors of the office tower. Mark Keebler and Brad Serot of CB Richard Ellis negotiated the deal on behalf of Chicago Trading Company The Chicago Stock Exchange has renegotiated its lease within One Financial Place, ceding the fourth and fifth floors of the building’s 440 South LaSalle complex and moving to the seventh floor of the office tower. The tenant will occupy approximately 50,000 square feet, reducing its footprint by approximately 60,000 square feet. Lisa Davidson and Rich Schuham of Studley represented Thee Chicago Stock Exchange. The Comptroller of the Currency renewed its 40,000-square-foot lease, represented by Schuham and Joe Learner of Studley. MF …
Office
PHOENIX — Climatec has selected McShane Construction Co. for the renovation and remodeling of the company’s 103,000-square-foot corporate office building, which is located at 2851 W. Kathleen Rd. in Phoenix. The project calls for the partial demolition and reconstruction of the facility, which will include the incorporation of several of Climatec’s extensive product lines. Additionally, the renovations include redesign of interior spaces and entryway of the facility, and replacement of mechanical, electrical and plumbing systems. Dick & Fritsche Design Group is providing architectural services for the project, which is slated for completion this month.
CALABASAS, CALIF. — Kasower Properties LLC has acquired a 36,660-square-foot office building, which is located at 26010 Mureau Rd. within Calabasas Commerce Center in Calabasas. Arden Realty Inc. sold the property for $7 million. The buyer purchased the property to house its business, Canoga Park, Calif.-based Mighty Net Inc., a credit and financial information provider. Sperry Van Ness represented the buyer; Robert Erickson and Marc Spellman of Lee & Associates—LA North/Ventura Inc. represented the seller in the transaction.
NEW YORK CITY — Chinese company Vantone Industrial Co. has signed the first lease for One World Trade Center, a 102-story office tower currently under construction in Lower Manhattan, New York City. The company will lease 190,810 square feet over five floors of the building for a 20-year term. The space will be used as the China Center, which will provide business incubator space for Chinese companies. The space will feature a private club, event space, a cultural center and office space. Vantone also has the option to lease two more contiguous floors under the current lease terms — an option that expires at the end of the year. Jones Lang LaSalle’s Peter Riguardi, John Ryan and Paul Mas represented the tenant in lease negotiations. The building’s owner, the Port Authority of New York and New Jersey, utilized in-house representation. One World Trade Center is scheduled for completion in 2013. The Port Authority is finalizing leases with the U.S. General Services Administration and the New York Office of General Services that would total more than 1 million square feet of the tower’s 2.6 million total square feet of space.
GREAT RIVER, N.Y. — Garden City, N.Y.-based Metropolitan Realty Associates has leased 13,600 square feet of office space within the 300 Building of Sunrise Business Center in Great River, Long Island. The space, located within a 161,500-square-foot building currently under construction, will be occupied by the Suffolk County Department of Social Services Medical Assistance Division. The agency will use the space, which is located at 3500 Sunrise Highway, for a Medicaid claim-processing center. Brian Lee and Dan Oliver of Newmark Knight Frank represented the tenant in lease negotiations. Metropolitan was represented by Raymond Ruiz, Marianne Dugan, Brian Cruz and Ryan Blaney of CB Richard Ellis. The 300 Building consists of the redevelopment of a former warehouse building into office space. Once it is complete, the business center will contain a total of 388,500 square feet.
HURST, TEXAS — Jones Lang LaSalle has been appointed as receiver of the 820 Business Towers located at 301 and 305 Northeast Loop 820 in Hurst. The Class B, two-building office complex totals approximately 100,000 square feet. As receiver, Jones Lang LaSalle is responsible for controlling and directing the use of the asset, which includes conducting due diligence, leasing, managing and marketing the complex for sale, until a resolution is reached between the lender and the borrowers.
MCALLEN, TEXAS — Cadence McShane Construction Co. has completed its second build-to-suit assignment for Virginia-based developer Harwood & Associates. The latest project, McAllen District Office, is a new, four-story Class A office complex located on a 4.5-acre site at 1200 N. Commerce Center in McAllen. The facility comprises 54,300 square feet of office space; 14,270 square feet of warehousing operations; and 11,500 square feet of additional space. Cadence McShane also provided all sitework and exterior landscaping for the office campus. Alliance Architects, Inc. provided architectural services.
SPARKS, MD. — The Sparks Venture Centre, the Hunt Valley-Sparks area’s first ExecuCentre, has opened at The Highlands Business Park in Sparks. The 5,000-square-foot facility, which is located at 954 Ridgebrook Rd., offers fully furnished individual or multiple suites for lease. Matthew Haas and Kevin Haus of Manekin LLC are serving as the building’s leasing agent.
LEXINGTON, MASS. — Rick Robinson of GVA Thompson Hennessey & Partners represented BTS Asset Management, in their recent 10,858-square-foot lease at 420 Bedford St. in Lexington. The landlord, Boston Properties, was represented by Stacey Baker. The lessee, a long-term tenant of 420 Bedford Street, is relocating in July from its current office space to a new suite, expanding its space by 2,500 square feet. The suite is located in one of two buildings in the Class A Lexington Office Park, which totals 166,000 square feet. The office park is located at the junction of Route 4 and I-95.
BOCA RATON, FLA. — 980 North Federal LLC has sold the 93,762-square-foot Compson Financial Center to 980 North Federal Acquisition Group for $20 million. The office property is located at 980 N. Federal Highway in Boca Raton. Scott O’Donnell and Dominic Montazemi of CB Richard Ellis’ Boca Raton office brokered the sale.