January 2015 – Briefs/Leasing & Management
- Dec 22, 2014
SL Green Inks TD Bank to Anchor Office, Retail at One Vanderbilt
SL Green Realty Corp. has signed TD Bank to a long-term lease that will make the bank both the office and retail anchor tenant at One Vanderbilt in Midtown Manhattan. TD Bank will occupy approximately 200,000 square feet of space, including a flagship retail store on the northeast corner of 42nd Street and Madison Avenue. SL Green plans to deliver the space in 2020. One Vanderbilt will feature 1.6 million square feet of open and efficient LEED-certified Class A space on the entire block along Vanderbilt Avenue between East 42nd and East 43rd streets. Part of the development includes a $210 million package of public transit infrastructure improvements, specifically targeting connections between Metro-North and the 4/5/6/7 and S trains, as well as future East Side Access LIRR lines.
Hugo Boss Relocating to Downtown Manhattan
Hugo Boss has leased 73,690 square feet at 55 Water St. in Downtown Manhattan from New Water Street Corp., an entity controlled by The Retirement Systems of Alabama. The deal includes 68,793 square feet on the entire 48th floor and partial sublevel space of 4,897 square feet. The space will serve as Hugo Boss’ new North American headquarters. Hugo Boss plans to move into the 53-story building in the second quarter of 2015. CBRE Group Inc. represented the ownership in the transaction. Savills Studley represented Hugo Boss.
Westwood Signs Publix for 47 KSF in NC
Westwood Financial Corp. recently announced the opening of a Publix grocery store at Steele Creek Crossing, a 77,301-square-foot retail center fully owned by WFC in Charlotte. Publix Super Markets has now brought the 12810 South Tryon St. retail center to full occupancy. Other tenants include Rite Aid, Little Ceasers, Five Guys Burgers and Fries, H&R Block and Nationwide Insurance. The new 47,000-square-foot Publix location is one of the seven Bi-Lo stores Publix has taken over in Metro Charlotte. It is also the second former Bi-Lo store Publix has taken over in a Westwood-owned Charlotte retail center. The national grocery chain signed up as anchor tenant at WFC’s 78,890-square-foot Cherry Road Crossing in Rock Hill in September.
Chambers Street Adds Sleepwear Tenant to Jersey City Roster
Chambers Street Properties has signed a 17-year, 159,141-square-foot lease at its 90 Hudson St. office building in Jersey City, N.J. with Charles Komar & Sons Inc. The 1908-founded global retail provider specializes in sleepwear, and includes such licenses and brands as DKNY, Tommy Bahama, Anne Klein and Betsey Johnson. The deal increases the property’s total occupancy from 63 percent to 100 percent. The Class A building sits on the Hudson River waterfront directly across from Downtown Manhattan.
High 5 Games, xAd Sign at 1WTC
Two new leases covering three floors have been signed at One World Trade Center. High 5 Games, an online and mobile gaming firm known best for High 5 Casino, will take 87,663 square feet on the 58th and 59th floors. High 5 Games is planning to make the move to Downtown Manhattan from its Union Square office in the second quarter of 2015. Mobile advertising company xAD also announced that it has signed a 10-year lease for 43,849 square feet at the tallest building in the western hemisphere (if you count its mast as a spire). It will occupy the 60th floor right above High 5 Casino. These transactions make the building 62.8 percent accounted for. Cushman & Wakefield handled both leases.
Heitman to Manage $440M Global Listed Property Investment Mandate for Australian Firm
Advance Asset Management, an Australian specialist asset management firm, has chosen Chicago-based Heitman L.L.C. to manage AUD$500 million in listed property investments globally. The long-only mandate will enable Heitman to invest that amount, approximately $400 million in U.S. dollars, in a concentrated portfolio of Asia Pacific, North American and European global real estate securities. The portfolio will consist of real estate securities investing in up to 25 percent of the FTSE EPRA/NAREIT Developed Index, which is currently less than 80 stocks, according to Heitman.
Grosvenor Americas Renovates 1701 Pennsylvania Ave., Adds 3 New Tenants
Grosvenor Americas recently completed the renovation of its trophy office building at 1701 Pennsylvania Ave., N.W. in Washington, D.C. The 12-story tower was constructed in 1962. Located within the city’s central business district, it offers almost 200,000 square feet of space and houses Grosvenor’s East Coast office on the 10th floor. Grosvenor purchased the property in 1986 and has since invested $16.7 million into architectural modernization and building system renovations. Last year, 1701 Pennsylvania Ave. earned LEED Gold certification. The property also signed three new tenants. Occidental Petroleum, FoxKiser and JAB Holdings have signed leases in the building for a total of 29,300 square feet of space. Cushman & Wakefield Inc.’s Mark Richardson and Jackie Raff brokered the deal.
Cisco Takes Nearly 100 KSF in Howard County
Cisco Systems Inc. is expanding its footprint in Howard County, Md. The San Jose-based firm recently signed a lease with St. John Properties Inc. for 97,128 square feet of new office space at 8135 Maple Lawn Blvd. The network company entered the county in 2013 when it purchased Sourcefire Inc. for $2.7 billion. Cisco now has plans to move a number of the Columbia-based cyber security firm’s offices to the Maple Lawn building. Relocation will occur in phases, beginning in summer 2015 after build out.