MELBOURNE, FLA. — Aerion Supersonic has unveiled plans to develop Aerion Park, a future $300 million office campus in Melbourne. The property will span 60 acres at the Orlando Melbourne International Airport and form a new global headquarters and integrated campus for research, design, build and maintenance of the company’s supersonic aircraft. The company is relocating from Reno, Nev., and will break ground later this year. Aerion expects to create 675 jobs by 2026. At the new site, Aerion will build the AS2, the world’s first privately built supersonic jet.
FORT LEE, N.J. — Mack-Cali Realty Corp. has sold One Bridge Plaza, a 206,500-square-foot, Class A office building located in the northern New York City suburb of Fort Lee. The 10-story building was 69 percent leased at the time of the sale. The property offers direct access to the George Washington Bridge and the New Jersey Turnpike. Kevin Welsh, Brian Schulz and Jason Emran of Newmark Knight Frank represented Mack-Cali in the transaction. The team also procured the buyer, a private investor. The sales price was undisclosed.
WEST ORANGE, N.J. — The Kislak Cos. Inc. has brokered the sale of a 48,000-square-foot, Class B medical office building in West Orange, a western suburb of New York City. Located at 622 Eagle Rock Ave., the three-story building was constructed in 1988. JAG One Physical Therapy and Garden State Community Bank are the anchor tenants of the building. The property offers convenient access to State Routes 280 and 287, the Garden State Parkway and the New Jersey Turnpike. Matt Wilheimer of Kislak represented the seller, New York Community Bank, in the transaction. The buyer was 622 Eagle Rock Avenue Realty.
PLANO, TEXAS — Local developer KDC has topped out Phase II of an office expansion project for JPMorgan Chase at the Legacy West mixed-use development in Plano. The investment banking giant opted to take an additional 540,000 square feet in a build-to-suit project following the completion of its initial 1 million-square-foot campus at Legacy West in 2017. With the inclusion of the new 12-story tower, which is expected to be complete in May 2021, JPMorgan Chase will be able to grow its workforce by an additional 4,000 employees. Campus amenities include training and conference space, a food court, dining area and coffee shop, health and wellness center, childcare center and a bank branch. HKS served as the project architect for Phase II, and Balfour Beatty is the general contractor.
CHICAGO — Skender has completed interior construction of the 90,000-square-foot headquarters for Mondelez International in Chicago’s Fulton Market district. Mondelez, a global snacking company, is the anchor tenant at the new five-story building, which is located at 905 W. Fulton St. The office space features a café, two connecting stairwells, outdoor roof gardens, open workstations, private offices and conference rooms. Skender collaborated with design firms HPA and SCB as well as engineering consultant IMEG Corp.
PASADENA, CALIF. — JLL Capital Markets has directed the sale of 101 S. Marengo, a Class A office property in Pasadena. Terms of the transaction were not released. Originally built in 1974, the 315,000-square-foot property was occupied by a single tenant that vacated last year. The asset is now available for a full renovation building to create a multi-tenant environment. Situated on 2.9 acres, the transit-oriented site is one block from the Los Angeles Metro Gold line and close proximity to Pasadena 101, Venture 134 and Foothill 210 freeways. Michael Leggett, Andrew Harper, Will Poulsen and Patrick Church of JLL represented the undisclosed seller in the deal.
HOPEWELL TOWNSHIP, N.J. — American Real Estate Partners (AREP) and Independencia Asset Management have sold 1100-1200 American Boulevard in Hopewell Township, approximately 10 miles west of Princeton, for $95 million. Originally built in 2000 as part of the Merrill Lynch corporate campus, the property consists of three Class A office buildings totaling 380,417 square feet. It is currently fully leased to Merrill Lynch, which Bank of America acquired in 2008. AREP purchased the property in 2013. Under terms of the new agreement, AREP will continue to lease and manage the asset. Cushman & Wakefield brokered the transaction. A New York City-based real estate investment firm was the buyer. “The deal offered positive cash flow from an investment-grade tenant for several years; desirable real estate centrally located between New York City and Philadelphia; and an opportunity to ensure management continuity by leveraging AREP’s operating platform,” says David Bernhaut, executive vice chairman of Cushman & Wakefield’s capital markets group. The Princeton/Route 1 Corridor has been one of New Jersey’s top submarkets for nearly two decades, according to AREP. Since 2004, the area has experienced a 20 percent increase in Class A asking rents. Headquartered in metro Washington, D.C., AREP is an institutional …
NEW YORK CITY — Coworking office space provider HQ Global Workplaces LLC has renewed its 28,000-square-foot lease in Manhattan. The lease is for a coworking office space that encompasses the entire 16th floor of 100 Park Avenue, a 902,000-square-foot office building between East 40th and 41st streets. The landlord, SL Green, was represented internally in the lease negotiations. No brokers representing the tenant were disclosed.
AUSTIN, TEXAS — Web hosting platform Wordpress Engine has signed a 22,536-square-foot office lease at Lavaca Plaza, a four-building office complex located at 504 Lavaca St. in Austin’s CBD. The property was built in 1980 and remodeled in 2001. Marc Vanderslice, Nate Stricklen and John Gump of CBRE represented the tenant in the lease negotiations. Matt Levin and Jason Steinberg of Equitable Commercial Realty represented the landlord, Unico Properties.
HOUSTON — Avison Young has negotiated a 21,091-square-foot office lease at 777 N. Eldridge Parkway in Houston’s Energy Corridor. Anthony Squillante and Josh Morrow of Avison Young represented the tenant, civil engineering firm Van De Wiele & Vogler. Jon Dutton represented the landlord, Granite Properties, on an internal basis. Van De Wiele & Vogler plans to move about 50 employees into its new space in the third quarter.