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.
NEW YORK CITY — Faris Lee Investments has opened a new office at 711 3rd Avenue in Manhattan, New York City. The expansion is a move to increase its presence on the East Coast and grow its market share. Richard Berlinghof will head up the new office as principal. In his new position, Berlinghof will help build relationships with financial institutions on the East Coast, as well as analyze and advise on distressed assets, portfolios and loans. Berlinghof has more than 23 years of commercial real estate experience encompassing lending, acquisitions, investment sales and mortgage banking.
HOUSTON — Phoenix-based Northborough Corporate LLP has selected Houston-based Moody Rambin Interests as the exclusive leasing agent for one of its Houston office properties. Moody Rambin will oversee leasing of 12700 Northborough Drive, a vacant six-story building located in the city’s Greenspoint submarket that contains 120,733 square feet of space. Moody Rambin’s Terri Torregrossa and Mark Preston will oversee the assignment.
SAN DIEGO — Construction is complete for Liberty Station Building 902, which is located at the former Naval Training Center at 2305 Historic Decatur Rd. in San Diego. The three-story, 109,102-square-foot building is the seventh and final building in Liberty Station’s office district. The $10.3 million project was designed by KMA Architecture & Engineering to obtain LEED Gold certification. The building features arched windows, stucco walls and clay-tiled roofs. BYCOR served as general contractor for the project.