PRINCETON, N.J. — Newmark Knight Frank (NFK) has brokered the $19.5 million sale of 1 Independence Way, a 113,998-square-foot office property in Princeton, New Jersey. The building was 100 percent leased at the time of the sale to financial information company S&P Global and navigation software provider Trimble MAPS. Kevin Welsh, Brian Schulz, Chuck Kohaut and Steve Tolkach of NKF represented the seller, Normandy Real Estate Partners. The team also secured the buyer, Guardian Realty.
MONTVILLE, N.J. — Cushman & Wakefield has negotiated a 32,000-square-foot office headquarters lease for cooling and heating solutions specialist Fujitsu General America Inc. in Montville, about 35 miles west of New York City. The firm plans to move into the property, located at 340 Changebridge Road., in early 2020. Ben Brenner and MariaGrace Iantosca of Cushman & Wakefield represented Fujitsu in the transaction. Curtis Foster and Jerry Shifrin of Cushman & Wakefield represented the landlord, Real Capital Solutions.
NEW YORK CITY — JAG-ONE Physical Therapy has signed a 3,300-square-foot lease in Staten Island. The property is located in the Amboy Shopping Center at 4343 Amboy Road. David Townes and Alana Freidman of Cushman & Wakefield represented JAG-ONE in the lease negotiations. Howard Seidenfeld of Global Realty Services represented the landlord.
INDIANAPOLIS — eHealth Inc. has signed an 81,515-square-foot office lease in Indianapolis for its eastern U.S. headquarters. The private online health insurance exchange will utilize the entire Lakefront 15 building within Lakefront at Keystone. Initially, eHealth will sublease two floors from current tenant Home Point Financial Corp. The sublease runs through October 2022 followed by a long-term arrangement for the 81,515 square feet of space. Tammy Fault and John Robinson of JLL represented ownership, Rubenstein Partners LP and Strategic Capital Partners LLC. Matt Kiger of Newmark Knight Frank represented eHealth. Rubenstein and Strategic Capital acquired the 1.1 million-square-foot office park in 2017.
STAMFORD, CONN. — Colliers International has arranged two office leases in Stamford, for a total 15,320 square feet. Law firm McCarter & English LLP has renewed a long-term lease for 11,058 square feet in the Canterbury Green building. Spruce Investment Advisors has renewed a five-year lease for 4,262 square feet in the 1 Stamford Plaza building. Jeffrey Williams and Hollis Pugh of Colliers arranged both leases. RFR Realty owns both properties.
FRIENDSWOOD, TEXAS — Locally based developer Virgata Property Co. will build Virgata Commons, a 14-acre retail and office project in Friendswood, located south of Houston. Phase I will deliver 20,000 square feet of retail space that is currently 85 percent preleased to tenants such as Orangetheory Fitness, MOD Pizza, Chipotle Mexican Grill and Chick-fil-A. Construction of Phase II is scheduled to begin in early 2020 and will feature an additional 30,000 square feet of retail and office space.
PALO ALTO, CALIF. — Longfellow Real Estate Partners has purchased Palo Alto Technology Center (PATC), a life science and technology campus in Palo Alto. KBS sold the 10-building asset for $205 million. Located at 1800-1850 Embarcadero Road and 2445-2465 Faber Place, PATC offers a total of 259,586 square feet of life science and technology space. At the time of sale, the campus was 99 percent leased to a variety of tenants, including Stanford, Bill.com, Aurora Innovation and Eversight. Greg Cioth, Paul Nelson, Nate Jones and Kurt Chong of Eastdil Secured represented the seller, while Longfellow was self-represented in the transaction.
SAN JOSE, CALIF. — Federal Realty Investment Trust has started construction on One Santana West, the newest edition to Santana Row in San Jose. The project includes a 360,000-square-foot office building and 1,750 parking spaces spread across a five-story parking garage and two floors of below-grade parking areas. One Santana West is the first phase of the up to 1 million-square-foot Santana West development that will adjoin Santana Row, a mixed-use neighborhood. Located at corner of Winchester Boulevard and Olin Avenue, the eight-story One Santana West will feature floorplates up to 54,000 square feet, 13-foot clear heights, direct access to parking, a plaza and terraces on the second, seventh and eighth floors. Completion is slated for first-quarter 2021. The adjacent 360,000-square-foot Two Santana West is scheduled for delivery in the first quarter of 2022. San Francisco-based Studios Architecture is serving as architect and Devcon Construction is serving as general contractor. Newmark Knight Frank is the leasing agent for the project.
BELLEVUE, WASH. — Newmark Knight Frank has arranged the sale of Corporate Campus East III, an office complex in Bellevue. TA Realty sold the property to a joint venture between Steelwave and Ares Management for $55.2 million. Situated on 11.7 acres at 3001, 3005, 3009 and 3015 112th Ave NE, the four-building campus features 154,765 square feet of office space. Built in the mid-1980s, the asset underwent a major renovation in 2015. At the time of sale, the property was 90 percent occupied. On-site amenities include a cafeteria, plaza, canopies, outdoor benches and seating areas, and ample parking. Kevin Shannon, Nick Kucha, Rob Hannan, Ken White, Michael Moll and Bill Delacy of Newmark Knight Frank represented the seller, while the buyer was self-represented in the deal.
LIMERICK, PA. — RedGo Development has broken ground on a 25,000-square-foot office property in Limerick, a city located northwest of Philadelphia. The property will serve as the new headquarters of Maillie LLP, an accounting firm operating in the northeast. Avison Young is the construction manager; Customers Bank is the lender; D2 Groups is the designer; and Fickler Construction is the general contractor. Construction is underway and slated for completion in the summer of 2020.