Office

HE CAPITAL COMPLETING $1 MILLION RENOVATION TO 1001 WEST LOOP SOUTH

by admin November 21, 2008

HOUSTON — HE Capital is in the midst of completing a $1 million renovation program for 1001 West Loop South, an eight-story, 223,340-square-foot office building located in Houston. Phase I, which will be complete by the end of November, consists of the installation of two energy-efficient chillers, as well as improvements to the property’s parking garage entrance and exterior landscaping. The design phase is also under way for renovations to the building’s conference facility, lobbies, corridors and restrooms. Construction for this phase should begin in 2009. HE Capital acquired the property in late 2007. It is currently 90 percent occupied; the Houston office of CAPSTAR Commercial Real Estate Services is handling leasing efforts for the remainder of the property, including two floors totaling 57,000 square feet that will become available in February 2009.

November 21, 2008

OPUS WEST CORP. RECEIVES APPROVAL FOR OFFICE PROJECT

by admin November 21, 2008

ROCKLIN, CALIF. — Phoenix-based Opus West Corp. has received approval from the city of Rocklin to develop a 20-acre speculative Class A office project within the 3,500-acre Stanford Ranch master-planned community. The project, Opus Point Stanford Ranch, will consist of three buildings totaling 360,000 square feet. Designed as a steel frame structure with floor-to-ceiling glass, the project will seek LEED Silver certification. Stanford Ranch is located at the intersection of Highway 65 and Interstate 80 in the South Placer County foothills.

November 21, 2008

Midwest Office

JE DUNN CONSTRUCTION GROUP TOPS OUT ITS NEW HEADQUARTERS

by admin November 20, 2008

KANSAS CITY, MO. — JE Dunn Construction Group has topped out its new headquarters facility, which is located at 1100 Locust in Kansas City. The company broke ground on the 203,000-square-foot facility in December 2007. The five-story office building will include an adjacent parking structure to serve 780 vehicles for JE Dunn employees and public parking. BNIM/360º Architects are providing design services for the project, which is being constructed to meet LEED Gold standards. JE Dunn plans to move into the new office in August.

November 20, 2008

Midwest Office

DESIGN FIRM SINGS LEASE WITHIN 1.5 MILLION-SQAURE- FOOT OFFICE BUILDING

by admin November 20, 2008

CHICAGO — Chicago-based design agency VSA Partners has signed a long-term lease within the 600 West Chicago building in the city’s River North submarket. The company’s headquarters will occupy approximately 40,000 square feet of space on the building’s second floor. VSA Partners has plans to move into the new space by the middle of 2009. The eight-story, 1.5 million-square-foot office building includes a river walk, shuttle service to train stations, a restaurant and a gym. Jones Lang LaSalle serves as the leasing agent for the property, which is 90 percent leased. Brad Despot of Jones Lang LaSalle represented the undisclosed landlord; Tom Volini in the Tenant Advisory Group of Grubb & Ellis represented VSA Partners in the transaction.

November 20, 2008

Northeast Office

CBRE ARRANGES 1.35 MILLION-SQUARE-FOOT LEASE RENEWAL FOR VIACOM

by admin November 20, 2008

NEW YORK CITY — CB Richard Ellis (CBRE) has arranged the renewal of Viacom International’s 1.35 million-square-foot headquarters lease at 1515 Broadway in Manhattan, New York City. The building, known as One Astor Plaza, rises 53 stories and totals 2 million square feet. Michael Laginestra, Scott Gottlieb and Andrew Sussman of CBRE represented Viacom in lease negotiations. The building’s owners, SL Green Realty Corp. and SITQ, were represented by Marc Holliday, Steve Durels, Neil Kessner and Kathy Crocco of SL Green. The transaction marks Manhattan’s third largest lease in history. Terms were not disclosed.

November 20, 2008

Office Western

LEE & ASSOCIATES BROKERS $2.6 MILLION OFFICE TRANSACTION

by admin November 20, 2008

MURRIETA, CALIF. — Tri-Valley Urology Medial Group has purchased an 8,590-square-foot office building in Murrieta for $2.6 million. The property is located at 25495 Medical Center Dr., Suites 204-208. Rob Crisell of Lee & Associates’ Temecula Valley, Calif., office represented the buyer and the seller, Rancho Springs Medical Venture LLC, in the transaction.

November 20, 2008

Office Southeast

GAS COMPANY SIGNS LEASE AT SOUTH CAROLINA BUSINESS CENTER

by admin November 19, 2008

DUNCAN, S.C. — Gas Turbine Efficiency Inc. has signed a 49,225-square-foot lease with landlord Hagen Real Estate for space at the Gateway Business Center. The property is located at 240 Parkway East in Greer. Kevin Bentley of Greenville, S.C.-based Bentley Commercial/CORFAC International represented the tenant. Greenville-based Coldwell Banker Commercial Caine’s John Powell represented the owner.

November 19, 2008

Midwest Office

HUNTINGTON BANK SIGNS LEASE WITHIN 45-STORY OFFICE TOWER

by admin November 19, 2008

CLEVELAND — Norfolk, Va.-based Harbor Group International has arranged a lease for approximately 100,000 square feet within 200 Public Square, a 45-story Class A office building located on Euclid Avenue in downtown Cleveland. Huntington Bank has leased office and retail space within the building for a 20-year term. The leased property includes two full atrium levels, a third floor and a retail component. Huntington Bank will relocate its regional headquarters to the facility as early as November 2010, with a completion date of November 2011. Amenities at the 1.27 million-square-foot office tower include a 757-space parking garage, a fitness center and an eight-story atrium. Terms of the lease allow Huntington Bank to add prominent signage to the building, including the top of the tower.

November 19, 2008

Northeast Office

C&W SONNENBLICK GOLDMAN ARRANGES RECAP OF OFFICE TOWER

by admin November 19, 2008

NEW YORK CITY — Cushman & Wakefield Sonnenblick Goldman has arranged a joint venture for the recapitalization of 31 West 52nd Street, a 776,849-square-foot office tower located in the Plaza District of Midtown Manhattan, New York City. The joint venture consists of Paramount Group, which acquired the tower last year, and a corporate pension trust advised by JPMorgan Asset Management. The property was designed by award-winning architect Kevin Roche of Kevin Roche John Dinkeloo & Associates. Tenants include law firm Clifford Chance, as well as several financial service companies. Details of the transaction were not released.

November 19, 2008

Office Western

BOSTON PROPERTIES CLOSES $375 MILLION LOAN FOR FOUR EMBARCADERO CENTER

by admin November 19, 2008

SAN FRANCISCO — Boston Properties Inc. has completed the financing of its Four Embarcadero Center in San Francisco. Terms of the 8-year, $375 million secured loan include a fixed rate of 6.10 percent per annum. A syndicate of insurance companies provided the financing. Located in San Francisco’s North Financial District, 47-story, Class A property offers approximately 937,000 square feet of rentable office space.

November 19, 2008

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