April – Briefs/Leasing & Management
- Mar 27, 2013
Coldwell Banker Lands 1.8 MSF Gig
The Salt Lake City office of Coldwell Banker Commercial NRT has been selected to represent Vista Station, a transit-oriented development located in Salt Lake County, Utah. Coldwell Banker Commercial’s Brandon Fugal will be leading all marketing efforts for the new more-than-100-acre development, which will offer 1.8 million square feet of office space, including eBay’s new $100 million campus that is near completion. The project also includes 250,000 square feet of retail shopping space and 1,800 residential units. Vista Station is located in close proximity to the new NSA Data Center, and incorporates green architecture and planning. eBay’s first two buildings to reach completion will achieve LEED Gold certification.
NRT is certainly no stranger when it comes to leasing major commercial developments. The firm has the exclusive listing for RiverPark, a 1.5 million-square-foot park in South Jordan, one of the largest Class A suburban parks in Salt Lake City. Another is Thanksgiving Park, a four-building, 500,000-square-foot suburban Class A office park located in Lihi, Utah.
WRIT Taps Cassidy Turley in 1.3 MSF Medical Office Sale
Washington Real Estate Investment Trust has selected Cassidy Turley to sell its 1.3 million- square-foot medical office portfolio. The 17 properties make up the largest institutional-quality medical office portfolio in the D.C. region. As it stands, the portfolio has low leverage, with only three encumbered properties totaling approximately $24 million in mortgage debt. All of the properties are in affluent communities or urban centers near major medical centers such as INOVA Fairfax, Shady Grove Adventist and George Washington Hospital.
Square Inc. Expands with Hudson Pacific in San Fran
Hudson Pacific Properties has filled up an additional 81,354 square feet of space at its 1455 Market St. property in San Francisco after Square Inc., the mobile credit card payment service provider, exercised an expansion option. In November 2012, Square Inc. signed a lease for 246,078 square feet at the 1 million-square-foot property. The option brings Square’s lease to 327,432 square feet, with the full occupancy scheduled to occur in early 2014. The 22-story Class A tower sits in the Mid-Market submarket of San Francisco, in close proximity to Twitter’s new corporate headquarters.
JLL to Lease, Manage Tampa Office Park
Jones Lang LaSalle Inc. has won a contract to lease and manage Bay Vista Office Park in the Gateway/Bayside submarket of Pinellas County, near Tampa. The property consists of three office buildings totaling 192,700 square feet. The asset is currently undergoing a capital improvement project to renovate and upgrade common areas, roofing, landscaping and parking. Tenants at the business park include storage company PODS, Orange Business Services, Pyramid Engineering and Maxim Healthcare Services.
Mack-Cali Leases 133 KSF in Downtown Manhattan Office
Mack-Cali Realty Corp. leased 133,008 square feet of space at 125 Broad St. in Downtown Manhattan during the fourth quarter of 2012. AECOM Technology Corp. signed a new lease for 91,414 square feet in a transaction orchestrated by CBRE Group Inc. The Institute for Community Living signed a new lease for 41,594 square feet in a deal put together by Jones Lang LaSalle Inc. CBRE Group Inc. represented Mack-Cali in both transactions. Mack-Cali’s ownership interests of 524,476 square feet in the building are now 100 percent leased.
Colliers Picked to Lease Houston M-U Development
Vantage Cos. has selected the Houston office of Colliers International to head leasing for Beltway 8 Office Center, a 116,700-square-foot mixed-use development located in Houston. The property offers both move-in-ready and built-to-suit office options for office, medical, retail and office/service users. The center is located at 9920 – 9980 West Sam Houston Parkway South.
Tishman Lands Two More Leases in West LA
Less than two months after buying the two-building Wilshire Courtyard office complex in West Los Angeles, Tishman Speyer has completed two lease transactions totaling nearly 75,000 square feet, bringing the property’s occupancy to 94 percent. In the larger lease, Katz Communications, a subsidiary of Clear Channel Communications, signed a 10-year lease for 45,500 square feet at 5700 Wilshire Blvd. Katz, based in New York, represents 4,000 radio stations, 700 television and digital multicast stations and 4,000 online publishers. In the other lease, E! Entertainment Network signed a 28,100-square-foot expansion at 5750 Wilshire Blvd. The network, a subsidiary of NBC Universal, produces, records and broadcasts dozens of TV and radio shows from that location.
Duke Closes Five Florida Leases Totaling 436 KSF
Duke Realty Corp.’s Central Florida office has closed five leases totaling 435,728 square feet at industrial properties in the Orlando area. The leases included a long-term renewal of 275,000 square feet with Ford Motor Co. at Park 27 Distribution Center in Davenport, Fla.; new leases of 37,683 square feet with Alstyle Apparel and 19,300 square feet with FM Convention Contractors Inc. at Parksouth Distribution Center; and renewals of 78,295 square feet with Benjamin Moore and 25,450 square feet with Universal Studios.