Implementing its plan to expand its Cambridge, Massachusetts footprint, Microsoft has signed a lease for 113,000 square feet of first-class office space at One Cambridge Center. Occupancy at the six-floor parcel is slated for late summer 2010.

The lease is part of the expansion of Microsoft’s New England Research & Development Center in Kendall Square. Cambridge Center’s owner and developer is Boston Properties, Inc.

“We’re delighted that Microsoft is expanding our presence here,” Microsoft New England Research & Development Center senior director Sara Spalding said. “We’re pleased to take this step toward our goal of creating a campus in Cambridge that can attract the best tech talent that this region has to offer and to further contribute to the region’s vibrant tech community.”

Jones Lang LaSalle senior vice presidents John Osten and Peter Bekarian, along with associate Molly Heath, negotiated the long-term lease for Microsoft. Boston Properties was represented by senior vice president David Provost and vice president Philip Dorman.

Developer Granite Properties has announced several leases totaling more than 70,000 square feet at its office tower at Park Seventeen in Uptown Dallas, including 26,874 square feet leased by Colliers International on the ninth floor.

Located at 1717 McKinney, the tower is part of one of the area’s largest mixed-use projects. In January 2009, it became the first office building in Dallas to be pre-certified by the U.S. Green Building Council at an LEED Gold level. Colliers is pursuing the Gold level for its ninth-floor quarters.

“Colliers’ decision to move downtown is yet another example of the continuing momentum we are experiencing this year,” Downtown Dallas, Inc. president and CEO John Crawford said when announcing the news.

Colliers was represented by brokers Hunter Blanks and Charlie Morris. Jim Kirchhoff and Robert Jimenez represented Granite.

“We are proud of our continued commitment to the Dallas community,” managing director of Colliers’ Dallas office Mark Noble said in a statement.

On a worldwide basis, Colliers manages more than 1 billion square feet and has revenue of $1.6 billion.

Pfizer Inc. is on the way out of its 700,000-square-foot office compound in New London, Conn., and General Dynamics Electric Boat is on its way in, now that the submarine developer has signed a preliminary agreement to acquire the property. Electric Boat is in a hurry; the company also inked an early occupancy lease that will allow the relocation of some of its employees into office space next month. 

The Southeastern Connecticut office market will benefit from the nearly perfectly timed relocations. Between the two major tenants, nearly 1 million square feet in the area will stay occupied rather than going on the market.

 Financial terms of the agreement have not been revealed; however, Pfizer developed the facility at a cost of approximately $300 million in 2001. Carrying the address of 50 Pequot Avenue, the pharmaceutical company’s three-building office campus occupies 33 acres in downtown New London. In addition to premier office space, the property features a parking facility to accommodate more than 1,800 vehicles. 

Cushman & Wakefield Inc., which also marketed the property for lease, secured the buyer. Under the early occupancy lease agreement, Electric Boat will relocate its engineers working on the Navy’s next-generation submarine to two floors in one of the buildings. The remaining staff is expected to make the move in phases through 2011.

 Timing is everything. Electric Boat, unlike most companies in this recession-weary climate, is experiencing a major growth spurt, and announced its plans earlier this year to settle into new, larger, fancier digs within 18 months. That dovetailed with Pfizer’s scheduled 2011 exit from the property. Pfizer announced last November that it would shutter the doors of its New London complex and relocate the employees to its location in Groton. The New London space became surplus following Pfizer’s multi-billion-dollar acquisition by Wyeth in 2009.

Real estate investment services firm Marcus & Millichap said Thursday that it has named two employees to higher positions.

The firm has named Jonathan Dwoskin regional manager of the Detroit and Grands Rapids offices. Dwoskin joined Marcus & Millichap in October 2002 and has served as sales manager of the Detroit office since August 2008. He was promoted to senior associate in February 2006 and then to associate vice president of investments in July 2008. A multifamily specialist, he was named a member of Marcus & Millichap’s Multi Housing Group and has received several internal sales awards for his performance. Dwoskin earned a bachelor’s degree in economics and journalism from Eastern Michigan University.

When announcing the appointment, president and CEO Harvey Green asserted that Dwoskin’s sales management expertise and extensive commercial real estate brokerage skills make him a valuable resource for agents and clients in Michigan as well as throughout the Midwest.

Andrew Gallas has also been promoted to associate vice president of investments in the Chicago Downtown office. Gallas joined Marcus & Millichap as a sales intern in May 2004 and was named an associate in June 2005. In June 2008 he became a senior associate and joined the firm’s Seven-Figure Club in January 2010. He focuses on net-leased properties throughout the U.S. and has closed properties in 15 states.

Marcus & Millchap has more than 1,200 employees nationwide and closed 3,441 transactions in 2009. The firm was founded in 1971.

Jones Lang LaSalle has reported net income of $0.2 million for the first quarter – a marked improvement from a net loss of $61 million a year earlier. With an adjustment for restructuring and certain non-cash investment charges in the first quarter, net income would have been $6 million, as opposed to a loss of $22 million in the first quarter 2009.

“Net income in the first quarter benefited from continued momentum from the fourth quarter of 2009 and the transition to a more variable compensation structure in a number of the firm’s transactional businesses,” JLL’s earnings release reads.

First-quarter highlights include a revenue increase of 12 percent in local currency, driven by increased activity across all operating segments, as well as the recovery of transactional revenue and continued growth in corporate outsourcing business. JLL also cited significant new client mandates in LaSalle Investment Management.

There were $1 million in restructuring charges during the first quarter, as well as $6 million of non-cash coinvestment impairment charges. The earnings report notes that restructuring charges are excluded from segment operating results, though they are included for consolidated reporting. Non-cash co-investment impairments are included in equity losses at the consolidated and segment reporting levels.

Operating expenses during the first quarter, excluding restructuring charges, were $562 million as opposed to $505 million in 2009. Outstanding debt on JLL’s long-term credit facilities was $335 million during the period as compared to $496 million a year earlier.

JLL serves clients in 60 countries from 750 locations worldwide, including 180 corporate offices. The firm has a portfolio of approximately 1.6 billion square feet worldwide.

Commercial real estate services firm Cassidy Turley said Friday that Louisville, Ky.-based Harry K. Moore will join the company on May 13. Harry K. Moore was formerly affiliated with Colliers International.

Harry K. Moore has been locally owned and operated since 1948, specializing in sales and leasing of industrial and commercial properties in Louisville and southern Indiana as well as many surrounding cities in Kentucky. Since 2000, the firm has completed more than 2,000 transactions consisting of 53 million square feet valued at more than $1.2 billion. During its transition, it will operate as Cassidy Turley Harry K. Moore.

“We are delighted to join Cassidy Turley,” Harry K. Moore managing member Powell Spears said when announcing the news. “With 162 years of combined commercial real estate sales and leasing experience among our brokers, we share a strategic vision of creating value and opportunities for our clients nationwide.”

The firm offers office brokerage, industrial brokerage, investment services, retail services, landlord and retail representation, with other activities including tract assemblage, client expansion needs, consultation, site procurements, and buying and selling investment properties. Its website calls it “an aggressive, action-directed real estate brokerage company.”

Cassidy Turley officially incorporated on March 1. Its portfolio includes 420 million square feet of managed space in 58 locations and $13 billion in completed transactions for 2009.

Colliers International has launched its new global brand, a major step in the integration of its global operating platform and service lines. Earlier this year, Colliers and FirstService Real Estate Advisors announced that they would join forces under the Colliers International brand.

The company said Wednesday that the launch represents the final step in its transition from a decentralized affiliate model to a more centrally owned and operated business. “This is a landmark day in the history of Colliers International,” Colliers USA chief executive officer Dylan Taylor said while announcing the news. “We’ve integrated our services platform to create a true global commercial real estate powerhouse. This integration, coupled with our investments in technology, platform services and professional development, provide our clients with seamless access to the highest level of service, in the U.S. and across the world.”

The new branding includes FirstService Real Estate Advisors, which provides corporate solutions and property and asset management services, FirstService Williams, which is the New York Tri-State hub for Colliers, FirstService PGP Valuation and PKF Capital – Hotel Brokerage Services. These firms will all now be known as Colliers International.

Earlier this week, Colliers acquired a significant ownership interest in Chicago commercial real estate services firm Colliers Bennett & Kahnweiler, which establishes a key Midwest hub to expand its global and national clientele. This is part of a continued aggressive move by Colliers to expand international operations by acquiring significant global gateway businesses. It did so in New York in 2008 and then in London in 2009. The company said that the acquisition of Colliers B&K strengthens its platform and capability to serve local, regional, national and international clients based in the Midwest.

Colliers has 15,000 employees working out of more than 480 offices in 61 countries. It provides a full range of services to real estate users, owners, and investors worldwide, including global corporate solutions, brokerage, property and asset management, hotel investment sales and consulting, valuation, consulting and appraisal services, mortgage banking and research.

Real estate services and investment firm Kennedy Wilson is increasing its efforts to acquire distressed assets in the Denver and Western Slope markets through the hiring of Rob Verratti as acquisitions manager.

Verratti, who has 20 years of real estate experience, was previously partner and owner of Mesa Homes Development. While there, he identified, structured and managed commercial and residential projects in excess of $250 million. He has also served at WestStar Bank (now US Bank) and Wells Fargo. At Kennedy Wilson, he will be responsible for focusing on distressed properties in the Mountain states.

When his appointment was announced, Verratti asserted that Kennedy Wilson offers significant value for the Denver market. “The company has managed and invested in a wide range of property types,” he said. “I believe there’s a great need, especially in this economy, for a company with Kennedy Wilson’s extensive expertise and far-reaching relationships to assist distressed owners.”

Distressed assets are becoming big business in the wake of the recession. Earlier this month, USAA Real Estate Co. and Crimson Real Estate Fund L.P. became two more members in the already heated competition for distressed real estate by creating a new alliance to invest up to $1 billion in troubled assets in a variety of property sectors and locations across the country.

Kennedy Wilson is headquartered in Beverly Hills, Calif., with 22 offices in the U.S. and Japan. Last month it began trading on the New York Stock Exchange under the symbol KW.

Courtesy Flickr Creative Commons user joka2000

Sustainability is on the minds of most real estate clients. That’s according to the fourth quarter Royal Institution of Chartered Surveyors Global Property Survey, which found that the vast majority of real estate agents believe that their clients place “some to considerable” importance on the topic.

Chinese, South African and Japanese clients were found to place particularly heavy importance on sustainability issues. The Chinese were most concerned about transportation issues and energy efficiency, as did the South Africans. The Japanese reported most interest in energy efficiency and land contamination. Client demand was the prime reason driving Chinese clients’ sustainability agenda, while the business bottom line was the prime reason for the South Africans and marketing purposes was the most important reason for the Japanese.

Overall, most respondents – 28 percent – cited the business bottom line as most important for driving sustainability, followed by client demand (16 percent) and marketing purposes (14 percent). The least important considerations were the natural environment (8 percent) and ethical/moral issues (7 percent), unchanged from the third quarter survey.

The survey noted considerable country variation within issues, particularly amongst that of the business bottom line. It was found to be least important in Germany and Japan, while it was most prominent in Poland and New Zealand.

On average, oil companies and government departments reported willingness to pay higher premiums to occupy sustainable buildings, with the highest premiums offered to occupy sustainable properties paid by Japanese and Mexican oil companies. Amongst government departments, those in the U.S., the United Arab Emirates and Canada were willing to pay the highest premiums. Russian and Mexican investors and occupiers reported willingness to pay the highest premiums to acquire and occupy commercial properties.

Courtesy Flickr Creative Commons user WordRidden

In a strategic move to expand its brokerage and property management services to both the Seattle and Bellevue markets, Commerce Real Estate Solutions has expanded its alliance with Cushman & Wakefield.

The Salt Lake City-based commercial real estate services provider is one of 27 members of the Cushman & Wakefield Alliance Program, an association of local and regional firms in more than 55 strategic markets. Commerce will add more industrial, office and retail brokerage employees along with expanding the Washington office’s services to local and government agencies, financial institutions, and existing national and global clients. All employees will remain under the Cushman & Wakefield flag.

“The benefit, we believe, is to the clients – to be able to meet client needs for those who have multiple offices or locations in Tier I and Tier II markets in the west is a distinct advantage,” Commerce president and CEO Mike Lawson told CPE. “No other locally owned firm has this type of network in the west, and we believe that’s a differentiating factor. In fact, just in the short time that the Seattle/Bellevue markets have been part of our operation, we’re seeing that interface bear fruit.”

Lawson said both Seattle and Bellevue are very entrepreneurial markets that move quickly and aggressively, much like Las Vegas and Salt Lake.

“Cushman believed, as do we, that the best service to the clients and the agents in that market could be delivered via a locally owned, regionally positioned firm,” he noted. “We’ve been alliance members of Cushman & Wakefield for more than six years and believe that the relationship provides extraordinary value for our clients.”

Lawson added that the expansion will grow Commerce’s western region presence, making it a first tier market, and enable the company to better serve customers. He believes that they will face the same challenges that come with any type of growth, including training new staff and introducing new technologies.

“However,” he said, “our firm has a good deal of experience in growing new markets, and we expect the transition to be relatively seamless.”