March – Briefs/Leasing & Management
- Feb 26, 2014
Air Liquide to Move U.S. Headquarters; Signs for 222 KSF
French industrial and health gas supplier Air Liquide is moving its U.S. headquarters from the Houston Galleria area to the newly named Air Liquide Center in Memorial City. The Houston mixed-use development is owned and managed by MetroNational and comprises 7.6 million square feet of developed space.
Air Liquide Center will consist of a 20-story, 452,000-square-foot tower and an adjacent 145,000-square-foot building. The company will occupy the first and upper six floors of the tower (155,000 square feet), and two floors in the second building (67,000 square feet). CBRE Group Inc. represented Air Liquide in the transaction. Ground was broken in late January, with completion slated for November 2015.
Columbia Property Trust Signs Law Firm in Cleveland
Office REIT Columbia Property Trust has signed a 15-year lease with BakerHostetler for 115,615 square feet of space at Key Tower in Cleveland. The law firm, which is ranked No. 65 on the AmLaw 100 for 2013 by gross revenue, will lease five floors of the 57-story tower starting in January 2016. The Class A tower and its attached 10-story historic building have been in Columbia Property Trust’s portfolio since December 2005. The 1.3 million-square-foot property owes its name to its anchor tenant, KeyCorp, the holding company of KeyBank, which signed a 15-year lease extension for 27 percent of the tower in 2013.
RFR Realty Leases 167 KSF in Manhattan
RFR Realty has brought Manhattan’s 757 Third Ave. to 95 percent occupancy via two new office leases totaling more than 167,000 square feet. The deals mark the grand finale of RFR’s campaign to reposition and lease up the Emery Roth & Son-designed tower following the departure of KPMG, which vacated 180,000 square feet in 2012. Grant Thornton L.L.P. signed for 130,357 square feet in a 15-year deal that will relocate the firm from 666 Third Ave. The second lease involved Berkley Insurance Co. taking 37,453 square feet. The capital improvement campaign at 757 Third Ave. began in 2012 and included the addition of a contemporary lobby with a rotating art program, upgraded elevator cabs, and new common corridors and bathrooms. RFR also refinished the façade and installed new retail storefronts.
C&W Reps Carlisle Etcetera in 63 KSF Renewal
Upscale women’s clothing line Carlisle Etcetera has renewed a 62,761-square-foot lease for its corporate headquarters in Manhattan. Cushman & Wakefield Inc. represented the company in its 10-year lease at 423 W. 55th St. for the lower level and third and fifth floors. Building owner The Winter Organization represented itself in the transaction. The lease is set to commence in January 2015.
Forbes Signs HQ Lease with LeFrak in Jersey City
Forbes Media has signed a 10-year, 92,720-square-foot lease at LeFrak’s massive mixed-use development in Jersey City known as Newport. The American business magazine will now call the entire ninth and 10th floors at 499 Washington Blvd. its headquarters. Relocation is scheduled to occur by the end of 2014. 499 Washington Blvd. is a 14-story, 600,000-square-foot Class A tower that LeFrak developed in 2000. Thanks to the contract, the building will maintain its 100 percent occupancy. Forbes’ co-tenants would make great sources for the publication: They include UBS, Citibank, Fidelity, CIGNA and Royal Bank of Scotland.
Deloitte Takes 120 KSF in Stamford
Professional services organization Deloitte is making waves in the Stamford, Conn., office market with a 15-year lease for 120,000 square feet at BLT Financial Center. Deloitte will serve as the anchor tenant in the newly renovated 594,000-square-foot asset, which previously housed the North American headquarters of General Reinsurance Corps. The vacant property was picked up in 2012 by Building and Land Technology (BLT), one of the largest property owners in Fairfield County.
Allied World Grabs 143 KSF in Manhattan’s FiDi
Allied World Insurance Co. has signed for four floors at 199 Water St. in Manhattan. The asset, owned by Jack Resnick & Sons, has seen more than a quarter million square feet of new leasing transactions in the past six months. Allied World Insurance Co. is a subsidiary of Switzerland-based and publicly traded Allied World Assurance Co. The group currently leases the entire 24th and 25th floors, and will expand into the 23rd and 26th floors. Newmark Grubb Knight Frank represented Allied World Insurance in the 16-year transaction, while Cushman & Wakefield worked with Jack Resnick & Sons.
City of New York Renews, Expands to 233 KSF at Queens Atrium
Not only has the New York City Department of Design and Construction renewed its commitment to its home base at Queens Atrium in Long Island City in Queens, N.Y., the agency has also taken on some more elbow room. The DDC signed a 15-year lease with The Feil Organization, owner of the 550,000-square-foot office building, for a total of 233,000 square feet. The DDC will remain in the 210,000 square feet it occupies at 30-30 Thompson Ave., and take on an additional 23,000 square feet, leaving Queens Atrium at maximum occupancy.