bluebird bio Inc. entered into a lease for a total of 253,108 square feet of office and laboratory space in a new building currently under construction at 60 Binney St. in Cambridge, MA.
The building is part of the 541,000-square-foot Alexandria Center at Kendall Square being developed by Alexandria Real Estate Equities and scheduled for completion in late 2016. The CBRE New England leasing team representing the building includes Gregory Lucas, Adam Brinch and Curtis Cole.
The 10-lease lease encompasses the entire building at 60 Binney St. with the exception of a ground-floor retail suite and will serve as the clinical-stage biotechnology company’s headquarters, replacing the firm’s current office at 150 Second St. and 215 First St. in Cambridge.
Alexandria has approximately 5.2 million square feet of office/laboratory space in the greater Boston area, including development projects currently under construction. By Mark Heschmeyer
ConAgra Moving HQ from Omaha to Chicago
Omaha-based ConAgra Foods (NYSE: CAG) will relocate its headquarters from Omaha to Chicago where it signed a lease in one of the largest office buildings in the U.S.
The maker of Healthy Choice, Hunt’s, Slim Jim, Chef Boyardee and other packaged food products signed a 15-year lease for 168,000 square feet in theMart, a four million-square-foot complex formerly known as the Merchandise Mart owned by Vornado Realty Trust.
ConAgra will move approximately 700 employees to the River North location beginning in summer 2016. The company plans to keep roughly 1,200 employees, including those in research development and supply chain management, in Omaha.
“Locating our headquarters and our largest business segment in Chicago places us in the heart of one of the world’s business capitals and consumer packaged goods centers, enhancing our ability to attract and retain top talent with a focus on brand building and innovation,” said Sean Connolly, president and CEO of ConAgra Foods.
ConAgra will join Yelp, Motorola, Discovery Chicago, MSL Group and Razorfish as a tenant at the Vornado-owned theMart, which is so large that until 2008 had its own zip code. The relocation was spurred by Illinois Governor Bruce Rauner, who approved tax credit incentives for the company.
ConAgra recently disclosed restructuring plans including 1,500 job cuts. The company has maintained operations in the Chicago area, leasing 150,000 square feet of space within the Naperville Office Park in Naperville since 2004. The company plans to close that location and shift the majority of those 400 employees to its new downtown location.
“We are making difficult, but necessary, decisions to enhance productivity, drive standardization and enhance flexibility to deliver improved profitability,” added Connolly. Leasing at the Merchandise Mart is handled by Andrea Saewitz, Wendy Katz and Chris McKinney of Cushman Wakefield – J.F. McKinney Associates. By Bryce Meyers
Johnson Johnson Leases 103,000 SF in Tampa
Johnson Johnson, the health care companies responsible for the manufacture and retail of consumer products, medical devices, and prescription products, has leased 102,580 square feet at 8800 Grand Oak Circle in Tampa, FL.
The 135,174-square-foot Corporate Center One office building was constructed in 1997 on 9.7 acres in the Northeast Tampa submarket of Hillsborough County, within the Hidden River Corporate Park.
Clay Sovich and Ron Ruffner with Cushman Wakefield represented the landlord, a joint-venture between Oaktree Capital Management and Banyan Street Capital. By Jeffery Wilson
Cepheid Signs with The Irvine Co. in Santa Clara
Cepheid, a molecular diagnostics company, entered into a lease agreement with The Irvine Co. to take 83,000 square feet of space at 2550 Great America Way in Santa Clara, CA. The initial term of the lease is expected to begin around April 1, 2016, and will run for 10 years and five months.
Based in Sunnyvale, CA, Cepheid is developing and marketing molecular systems and tests designed to perform sophisticated genetic testing for organisms and genetic-based diseases. By Mark Heschmeyer
SNC-Lavalin To Extend Lease in Toronto
SNC-Lavalin’s nuclear sector, a long-term tenant in the Mississauga’s Sheridan Park, has committed to extend its lease on a long term basis in the newly refurbished facility. Slate Office REIT entered into a binding agreement with SNC-Lavalin for 215,000 square feet of research, development and office space in Sheridan Park for an initial term of 10 years.
Under the terms of the agreement, Slate will transform 2251 and 2285 Speakman Drive for SNC-Lavalin at a cost of $46 million, fully retrofitting the space to create functional, contemporary facilities with modern amenities.
The lease will have an initial term of 10 years and include an option to lease an additional 28,000 square feet increasing the total area to 243,000 square feet. By Mark Heschmeyer
Fonar Inks Lease Renewal Reaching Half Century with Rechler Equity
Fonar Corp., a developer and manufacturer of MRI scanners, signed an 11-year, 78,240-square-foot lease renewal at 110 Marcus Drive in Melville, NY.
Fonar introduced the world’s first commercial MRI scanner. The company had been considering a relocation out of state due to taxes but was able to remain at the Rechler Equity property after the Suffolk County Industrial Development Agency granted the company property tax incentives for the next decade.
As part of the 11-year lease renewal, landlord Rechler Equity Partners will oversee a series of capital improvements at 110 Marcus Drive. Rechler Equity director of acquisitions and leasing Ted Trias negotiated the lease renewal on behalf of the company, while Howard Nemshin, a partner at Atlantic Property Services LLC, represented the tenant. By Mark Heschmeyer
SIM Group Signs at Historic Eastman Kodak Property
The SIM Group, a leading supplier of services and technology to the film and television industry, signed a long-term lease for 65,000 square feet in a building constructed by Eastman Kodak in 1994 and recently renovated by Lincoln Property Co.
The retrofitted facility at 1017 N. Las Palmas Ave. features traditional editorial office space, post-production space, a DI theater and camera rental space. With SIM Group’s arrival, the two-building campus, which was built and occupied by Kodak for nearly a century, will become a media and technology hub. The three-story space will house three SIM Group companies.
Matthew Miller, managing principal of Cresa, represented SIM. By Mark Heschmeyer
Holder Construction Group Leases 55,964
Holder Construction Group leased 55,964 square feet in the Riverwood 200 building currently under construction at 3250 Riverwood Pky. in Atlanta. Construction began last month on the 299,125-square-foot, 12-story office building, which is slated to deliver in July 2017.
Cooper Carry Inc. is the architect for the building being developed by Highwoods Properties. Holder’s lease includes the entire 11th and 12 floors, and 4,506 square feet on the 10th floor. Other tenants will include Delta Community Credit Union and Bennett Thrasher LLP.
Mike Wells and Jim Bacchetta of Highland Properties brokered the deal on behalf of the landlord. By Jonell Finley
Nations Direct Mortgage Signs 7-Year Lease
Nations Direct Mortgage leased 49,940 square feet of office space spread across 5 and 6 Hutton Centre Dr. in Santa Ana, CA. The seven-year deal is valued at approximately $10 million, and includes building signage. The tenant is consolidating and expanding nearby offices.
The twin 14-story office buildings known as Griffin Towers total 547,230 square feet and were built in 1987. Jeff Tabor with Corporate Realty Advisors represented the tenant. Dean Chandler, Weston Chandler, John Weiner, and Justin Hill of CBRE represented the landlord. By Brian Kremer
Leukemia Lymphoma Society Takes 41,868 SF I Rye Brook
The Leukemia Lymphoma Society (LLS) signed a 41,868-square-foot lease to relocate its headquarters to 3 International Drive in Rye Brook, NY. The cancer research organization leased 9,868 square feet on the first floor and the entire second floor, 32,000 square feet, at the 94,000-rentable-square-foot, three-story building. It will relocate to the new space from 1311 Mamaroneck Avenue in White Plains.
The lease term is 15 years. LLS said the reduced space will save millions of dollars over the term of the lease and provide its employees with a collaborative work environment. CBRE executive vice president William V. Cuddy, Jr. and vice president Kevin McCarthy represented the tenant. The landlord, Reckson Operating Partnership, a division of SL Green, was represented in-house in the transaction by Robert Swierbut, vice president leasing.
This is the second lease LLS has signed with SL Green over the previous 12 months. The fundraising arm of the organization serving Connecticut, Westchester and the Hudson Valley previously leased approximately 7,000 RSF at Landmark Square in Stamford, CT. By Mark Heschmeyer
Redflex Relocates to Two Glendale Office Buildings
Redflex Traffic Systems signed two leases to relocate its Phoenix office operations to buildings at 5651 W. Talavi Blvd. within Talavi Corporate Center and 16680 N. 51st Ave. within the 51 Bells project in Glendale, AZ.
Redflex leased approximately 35,760 square feet of space at Talavi Corporate Center and is relocating from 23rd Avenue and Pinnacle Peak Road. Redflex also leased approximately 14,000 square feet at 51 Bells. The company will take occupancy of its new spaces in December.
Redflex Traffic Systems develops and manufactures a wide range of digital photo enforcement solutions including red light camera, speed camera, and school-bus-stop arm camera systems.
Senior directors Blaine Black, Sam Murik and Don Rodie and associate Robb Vallier with Cushman Wakefield represented Redflex. Ashley Brooks of CBRE represented Los Angeles-based Regent Properties, owner of Talavi Corporate Center. Mark Linsalata of Lee Associates Arizona represented Arizona-based 51 Bells Limited Partnership. By Mark Heschmeyer
Veracity Engineering Leases DC Office Space
Veracity Engineering signed an 11-year lease for 34,642 square feet at the L’Enfant Plaza North building at 955 L’Enfant Plaza SW in Washington, DC.
Completed in 1968, the I.M. Pei-designed office building measures 283,100 square feet over eight stories at the southeast corner of 9th and D Streets in D.C.’s L’Enfant Plaza. The property is located off I-395 and within walking distance of the L’Enfant Plaza metro station, and is anchored by the U.S. Department of Energy.
Andrea Murray and Jill Goubeaux of The JBG Cos. provided in-house representation for building owner JBG, while Geoffrey Kreiss of Cushman Wakefield represented Veracity Engineering. By Javier B. Jennings
Wells Fargo Leases 33,000 SF in Glen Mills
Wells Fargo signed a 33,321-square-foot lease on the first floor of the office building at 50 Applied Card Way in Glen Mills, PA. The five-story, 248,975 square foot, Applied Corporate Center was constructed in 2002 in the Delaware County submarket.
Blaise Fletcher and John Perkins with JLL brokered the deal on both sides of the table. By Tho Vu
Coyote Logistics Completes 30,000-SF Office Lease in Minneapolis
Coyote Logistics signed a new 30,000 square foot office lease at 401 1st Ave. N in Minneapolis. The UPS subsidiary and 3PL provider previously maintained offices in Brooklyn Park, Minnesota, a suburb of the Twin Cities.
Coyote Logistics will take occupancy of the new space in the first quarter of 2016, upon completion of a custom build-out to the new space. MB Real Estate represents Coyote Logistics in its real estate interests nationwide, and the firm’s David Burkards, senior vice president, assisted with its relocation. By Mark Heschmeyer
TowneBank Takes New Richmond HQ Space
TowneBank signed a lease for 26,047 square feet of office space for its regional headquarters at Gateway Plaza in downtown Richmond, VA.
The new building at 800 E. Canal St., occupies a block in the financial district. The 18-story, high-rise office building and parking garage were developed and are owned by an affiliate of St. Louis-based Clayco.
The bank will occupy 12,342 square feet, which comprises most of the ground floor and 13,705 square feet on the seventh floor. TowneBank’s downtown full-service banking center will be housed on the first floor.
Gerald S. Divaris, chairman and CEO, and Brett McNamee, senior vice president of Richmond office of Divaris Real Estate Inc. negotiated on behalf of the tenant with Clayco. By Mark Heschmeyer
SPS Commerce Relocates, Expands at Overlook Corporate Center
SPS Commerce signed a long-term, 25,000-square-foot lease at 150 Clove Road in Little Falls, N.J. The Minneapolis-based retail supply chain network and provider of cloud-based solutions and analytics will relocate its New Jersey operations from Parsippany to Overlook Corporate Center’s fourth floor in February 2016.
Richard Mirliss, executive managing director at Colliers International, along with colleagues executive managing director Richard J. Madison, and associates Jack Callahan and Alexander Vitro, represented the building’s ownership, Theta Holding Company, LP, as the building’s exclusive listing agent. By Mark Heschmeyer
AppFolio Leases Richardson Office Space
AppFolio, a property management software company, leased 24,479 square feet in Cardinal Park in Richardson, TX. The nine-building business park spans more than 10 acres between International Pky. and N. Plano Rd. AppFolio will occupy the second floor of Building Nine beginning in March 2016.
Joshua Barnes and James Engels at Holt Lunsford Commercial represented the landlord, Adler Kawa Real Estate Advisors in the direct deal with the tenant. By Tessia Knight
DPR Construction Leases 20,612 SF in Sunset Corporate Plaza
DPR Construction, a privately held, employee-owned national technical builder, signed an 11-year deal for 20,612 square feet at the Sunset Corporate Plaza in Reston, VA.
The company will be moving its Falls Church office to 11109 Sunset Hills Rd., a 41,212-square-foot, two-story office building also known as Sunset Corporate Plaza 2. Josh Masi, Matthew Bundy and Tom Walsh of Cushman Wakefield represented the landlord, Penzance Cos.; while Fielding Muir of Transwestern represented DPR Construction. By Walt Brown
Wing Lung Bank To Move U.S. HQs to Newport Beach’s Fashion Island
Wing Lung Bank signed a 10-year lease with The Irvine Co. at 520 Newport Center Drive in Newport Beach, CA. The bank, which has operated in Hong Kong for over 80 years, is a wholly owned subsidiary of China Merchants Bank, the sixth largest commercial bank by total assets in China. It is currently among the top 50 banks in the world.
The bank will take the entire 16th floor totaling 17,630 square feet at the Irvine Co.’s newest office building to relocate its U.S. headquarters from Alhambra, CA. It will be the first Chinese run bank to enter the Newport Center area.
Senior vice president Tom Nguyen with NAI Capital and Nelson Chau, an independent broker, advised Wing Lung Bank Ltd. By Mark Heschmeyer
Article source: http://www.costar.com/News/Article/Office-Lease-Up-Oct-5-ConAgra-Heading-to-Chicago;-Biotech-Firm-bluebird-Building-Future-Nest-in-Cambridge/175976?ref=/News/Article/Office-Lease-Up-Oct-5-ConAgra-Heading-to-Chicago;-Biotech-Firm-bluebird-Building-Future-Nest-in-Cambridge/175976&src=rss