Even as two fashion brands have expanded beyond New York City, two media companies have signed separate long-term lease renewals to remain in more than 1.2 million square feet at Rockefeller Center, located at 1211 Avenue of the Americas in Midtown Manhattan.
Ivanhoé Cambridge and Callahan Capital Properties have retained 21st Century Fox in a total of 777,000 square feet in the office tower, including a 649,000-square-foot extension effective December 2020 and a 128,000-square-foot expansion into three upper floors effective immediately to accommodate the consolidation of other Midtown employees. The terms of its lease extend its presence in the building through 2025.
News Corp signed a 444,000-square-foot lease transaction that becomes effective December 2020. News Corp will now remain in the building through 2027, with both tenants retaining extension options after the master term expires.
Josh Kuriloff, Mitch Arkin and Ethan Silverstein of Cushman Wakefield represented ownership in the transactions. Mary Ann Tighe, Tim Dempsey, Ken Rapp and Christopher Mansfield of CBRE represented both 21st Century Fox and News Corp. By Justin Sumner
FCC Signs 473,000-SF Lease at Sentinel Square Development in NoMa for Site of New HQ
After resolving a dispute with the agency’s current landlord over its selection for a new headquarters for the Federal Communications Commission (FCC), the U.S. General Services Administration has officially awarded the lease to Trammell Crow Co.’s (TCC) Sentinel Square development in NoMa.
The FCC finalized a long-term lease for nearly 473,000 square feet at the proposed Sentinel Square III development in Northeast Washington, D.C. where the independent government agency will establish its head offices, relocating from its current location at The Portals II building at 445 12th St. SW.
Henry Chapman, Sara Dunstan, Richard Downey and Sarah Maxwell of CBRE brokered the lease on behalf of the FCC. By Holden Brayboy
New York Life Leases 147,000 SF at Westchester One
New York Life, the nation’s largest mutual life insurance company, signed a 10-year lease for 146,870 square feet in the Westchester One office building at 44 S. Broadway in White Plains, NY.
The 21-story, 845,791-square-foot, 4-Star office tower was developed in 1976 by Bianco Pepe, Inc. on 1.5 acres in the White Plains CBD submarket of Westchester County. Other tenants include New York State Department of Law and Avon Products.
Matthew Lisk, Michael McCarthy, Stephen Baker and Josh Kuriloff of Cushman Wakefield represented the landlord, Beacon Capital Partners. Cushman Wakefield also represented New York Life. By Matthew Hamburger
NTT DATA Picks One Legacy West for New North American HQ
NTT DATA International, a top 10 global business and IT services provider headquartered in Tokyo, has signed a long-term lease to establish its North American headquarters at Gaedeke Group’s One Legacy West project slated to deliver later this month at 7950 Legacy Dr. in Plano, TX.
Currently located down the street at 5601 Granite Pky., NTT DATA will relocate its North American corporate office to five floors totaling 126,715 square feet at the 307,824-square-foot, 14-story One Legacy West development.
Stevie Jarvie and Damian Rivera, SIOR of E Smith Realty Partners brokered the lease on behalf of NTT Data and negotiated incentives from the state of Texas and the city of Plano. Belinda Dabliz provided in-house representation on behalf of Gaedeke Group. By Chaka Baker
Radial Renews 103,000-SF Office Lease in King of Prussia
Radial, Inc., an e-commerce company, signed a 15-year lease renewal for the 103,334-square-foot office building at 935 1st Ave. in King of Prussia, PA.
The four-story office building was built in 2001 on nine-tenths of an acre within the First Avenue Corporate Center.
Gladstone Commercial Corporation last month closed on its $26 million acquisition of the asset, with plans to complete a $4 million renovation of the building without disrupting Radial’s continued sole occupancy of the building.
The new triple-net lease was reportedly negotiated in-house. By Wesley House
Goodwin Procter Leases 100,000 SF at Redwood City Office Development
Boston-based law firm Goodwin Procter has signed a 100,000-square-foot lease to anchor Dostart Development Co.’s 133,100-square-foot office project currently in development at 601 Marshall St. in Redwood City, CA.
The firm will take the top four floors of the eight-story building, accounting for 75% of the property, with a move-in date tentatively set for the first quarter of 2018.
Steve Barker and Michael McCandless of Savills Studley represented Goodwin Procter in the lease negotiations, while Mike Connor and Ben Paul of Cushman Wakefield represented Dostart Development Co. By Eric Kies
Paul Hastings LLP Signs 97,000-SF Lease at Trophy Office Development on M St.
Global law firm Paul Hastings LLP has signed a 16-year prelease for 97,000 square feet at 2050 M St. NW, Tishman Speyer’s 364,000-square-foot, 12-story trophy office development scheduled to break ground next month in downtown Washington, DC.
Located between Washington and Dupont Circles in the city’s central business district, the new development will be constructed on an assemblage that includes the existing site of the Washington DC bureau for CBS. Construction is slated to wrap up in May 2020
Andrew Eichberg, Scott Franklin and Amy Brendler represented the landlord in-house. By Bill Johnston
Newport Office Center Nets Two Long Term Leases as NYC Fashion Brands Look Across the Hudson for More Office Space
Two long-term office leases were signed recently at the eight-building, 7 million-square-foot Newport Office Center located in Jersey City, NJ. The asset is developer LeFrak Organization’s largest waterfront community in the country.
In the larger transaction, fashion stalwart Tory Burch LLC leased two full floors comprising nearly 93,000 square feet of office space at Newport Office Center 3 at 499 Washington Blvd. The fashion company expects to relocate several of its Manhattan business units, including its finance, import/export and wholesale customer service divisions into the 14-story, 690,000-square-foot office building by the fourth quarter of this year.
Jeffrey Peck, Dan Horowitz and Matt Barlow of Savills Studley represented Tory Burch in the 15-year lease. Charles Borrok and Dan Johnsen of Cushman Wakefield, together with Marylou Berk, LeFrak’s senior vice president and head of commercial real estate, represented the landlord.
Cosmetics giant L’Oréal USA, which acquired IT Cosmetics last summer, leased 60,000 square feet comprising two full floors at Newport Office Center 1 at 111 Town Square Place for the prominent skincare products firm.
Ray Kawas and Marylou Berk of LeFrak represented the landlord in the 10-year office lease. By Justin Sumner
Netflix Leases New CUE Office Building
Netflix signed a lease for the 91,953-square-foot office building currently under construction at Sunset Bronson Studios. The five-story building called CUE is scheduled to deliver at 5808 W. Sunset Blvd. in Los Angeles this summer.
The company previously leased ICON, a new 323,273-square-foot office tower also part of Sunset Bronson Studios and will move in later this month. In addition, Netflix signed a deal for 99,250 square feet at this entertainment production complex back in September for existing stages and production offices.
Jeff Black and Clay Hammerstein of CBRE in Los Angeles represented Netflix. Blake Mirkin, Robert Waller, Patrick Amos and Daniel Rainer also with CBRE represented the landlord, Hudson Pacific Properties Inc. By Kate Retzinger
MAA Leases 84,700 SF in Germantown
MAA, a real estate investment trust that primarily focuses on the acquisition, development and management of multifamily homes signed a lease deal for about 84,716 square feet in the proposed office building at 6797 Poplar Ave in Germantown, TN.
The proposed five-story building is supposed to total more than 150,000 square feet. Thoda and Associates Pllc is the architect working on the project.
Patricia Bullock and Jennifer Stewart of Gill Properties Inc. were the landlord representatives. By Sam Katz
Serco Inks 83,308-SF Deal at Monument III at Worldgate
Serco Inc., a British outsourcing company that provides professional, technology, and management services to local, state and the federal government, has signed on for three full floors at Monument III at Worldgate in Herndon, VA.
The company will occupy 83,308 square feet of office space across the fifth through seventh floors at the 193,138-square-foot, seven-story office building located at 12930 Worldgate Dr. The estimated move-in date is currently December 2017.
Tom Cresce of JLL represented the owner, Boston-based TA Realty, while Steve Ranck, also of JLL, represented the tenant. By Walt Brown
Indigo Books Music Reaches Deal to Shift HQ to Allied/RioCan’s King Portland Centre Project in Downtown Toronto
Indigo Books Music (TSE: IDG) has signed a lease to relocate its headquarters to 78,810 square feet at Allied Properties REIT (TSX: AP.UN) and RioCan REIT’s (REI-UN.TO) King Portland Centre development at 602-620 King Street West in downtown Toronto.
Canada’s largest book, gift and specialty toy retailer, Indigo will relocate its longtime headquarters from nearby 468 King Street West to a portion of the second floor and the entire third through fifth floors at King Portland Centre.
At full build-out, the project will consist of 255,565 square feet of office space, 13,035 square of retail space and approximately 116 apartments fronting Adelaide West. It will also encompass a restored and fully leased heritage building, 602-606 King West, and an adjoining property that will be razed to make way for the new project.
With Indigo’s186-month lease in place, Allied and RioCan have now successfully leased 75% of the office component. By Aneeq Siddiqui
MT Bank to Relocate Regional HQ to 3 City Center in Downtown Rochester
MT Bank (NYSE: MTB) has signed a lease to relocate its Rochester regional headquarters to 60,000 square feet at 3 City Center in downtown Rochester, NY, according to a press release issued by the company.
The Buffalo, NY-based bank holding company will take occupancy in March in the 226,000-square-foot, six-story building located less than one mile from MT Bank’s current headquarters at the 225 East Ave.
MT Bank currently employs more than 215 professionals at its regional headquarters with plans to hire upwards of an additional 10 people to fill roles in various departments. By Bryce Meyers
Whole Foods Corporate Shelves Cambridge HQ for New 50,000-SF Space in Marlborough Hills
Whole Foods (NYSE: WFM) has agreed to a deal that will see the American supermarket chain relocate its New England corporate headquarters to 50,000 square feet within Marlborough Hills in Marlborough, MA.
Currently based in Cambridge, MA, Whole Foods will shift its regional offices to 200 Forest St., a 527,582-square-foot, three-story office building anchored by GE Healthcare and Athena Diagnostics.
Bob McGuire and Andy Majewski of CBRE/New England, alongside Scott Black of The Dartmouth Co., represented Whole Foods in negotiations, while CBRE/NE’s Rob Walles and Alison Powers represented Atlantic Management. By Lauren Cawley
AlphaSights Takes 3 Floors at 350 Madison
London-based AlphaSights, a professional services firm, signed a six-year lease for 46,142 square feet in the office building at 350 Madison Ave. in New York, NY.
The 25-story, 4-Star office building totals 369,913 square feet and was developed by Borden Company in 1924. RFR Realty owns and manages the property.
Gus Field, Jon Herman, Robert Lowe, Brooks Hauf, Gary Ceder and William Barrett of Cushman Wakefield represented AlphaSights. Daniel Turkewitz, Mitchell Konsker, Alexander Chudnoff and Diana Biasotti with JLL represented the landlord. By Nick Smith
Crédit Industriel et Commercial Renews 45,000-SF Midtown Lease
Crédit Industriel et Commercial (CIC), a financial services firm and affiliate of Crédit Imutuel of France, has renewed its lease for 44,800 square feet at 520 Madison Ave. in New York City.
The group will continue to occupy the entire 36th and 37th floors of the 43-story, 1.05 million-square-foot, 4-Star office tower. Built in 1982, the building occupies almost a full acre in Midtown Manhattan’s Plaza District submarket, between 53rd and 54th Streets.
Nick Howell, Sunny Choi, Ryan Kelleher and Stefanie Tannenbaum of Tishman Speyer represented the landlord in-house. The tenant was represented in the renewal by CBRE. By Kelly Faulk
Verizon Renews 42,000-SF Lease at Spear St. Tower
Verizon Wireless will maintain an “Innovation Center” in San Francisco’s south financial district after agreeing to a five-year renewal for its 42,033-square-foot space at 201 Spear St.
201 Spear St. is a 246,563-square-foot, 18-story office building completed in 1985 three blocks from I-80/Bay Bridge and four blocks from the BART-Embarcadero station.
Matt Hargrove and Mike Shellow of CBRE’s account team, along with local CBRE market experts Darin Bosch and Luke Ogelsby, represented Verizon in the renewal. Sam Wasserstein and Zach Siegel of Cushman Wakefield handled the deal for building owner KBS REIT III, which acquired the asset in 2013 for $121 million. By Anthony Edelstein
Abrams Publishing Leases 42,000 SF in Lower Manhattan
Abrams Publishing, which prints a variety of illustrated books, cookbooks, craft books, children’s books and gift and paper products, leased 41,982 square feet at 195 Broadway in New York City.
The publishing company signed a 15-year lease to occupy the entire ninth floor of the tower later this year when it relocates from its current space at 115 W. 18th St. in Chelsea. The 29-story, 1.05 million-square-foot, 4-Star office tower was originally built in 1913 on nine-tenths of an acre.
Mark Mandell and Dan D’Agnes with Cushman Wakefield represented the landlord. Andrew Wiener and David Young with LL Holding Company LLC represented the landlord in-house. By Kelly Faulk
GSA Leases 39,000 SF at Penn Center
The GSA signed a four-year lease for 38,644 square feet in the office building at 1601 Market St. in Philadelphia, PA.
The 36-story building totals 685,852 square feet in Penn Center. The building was constructed in 1968 and most recently renovated in 1988. The building is located in the Market Street West submarket of Philadelphia. GSA leased the entire 11th and 12th floors there.
Tom Weitzel and Mitchell Marcus of JLL represented the landlord, APF Properties LLC. By Kristina Gardner
Burns McDonnell Renews, Expands at 200 W. Adams
Burns McDonnell, an international engineering, architecture, and consulting firm, has renewed its 16th floor office space and expanded into additional space on the 26th floor for a total of 36,409 square feet at 200 W. Adams St. in Chicago.
Built in 1985, the 30-story building totals 683,129 square feet in the city’s West Loop. It last sold in 2015 to Gerding Edlen, according to CoStar information.
Jack McKinney and Matthew Lerner of Cushman Wakefield represented the landlord in negotiations. By Alexander Fairlie
Hearst Connecticut Media Group Leases 30,000 SF in Norwalk
Hearst Connecticut Media Group, which owns several newspapers nationally, signed a lease for 30,251 square feet at 301 Merritt 7 in Norwalk, CT.
The seven-story building totals 205,000 square feet in the Merritt 7 Corporate Park. Albert D. Phelps, Inc. developed the property in 1985, and renovations were completed there in 2013.
Thomas Pajolek, Robert Caruso, Steven Greenbush and Ned Burns of CBRE represented the landlord along with JoAnn McGrath at Marcus Partners CT Mgmt LLC. Thomas O’Leary and William Montague with Cushman Wakefield represented the tenant. By Dixon Ferrell
Miller Thomson Latest to Sign Deal at KPMG Tower in Vaughan
Miller Thomson is moving to the recently completed KPMG Tower after closing on a 10-year deal for 22,000 square feet of office space within the Vaughan Metropolitan Centre (VMC) building in Vaughan, Ontario.
One of the largest national full-service law firms in Canada, Miller Thomson will occupy a full floor in the 15-story, 365,000-square-foot, Class A high-rise completed last March at the corner of Apple Mill Rd. and Millway Ave.
KPMG Tower is part of Smart Real Estate Investment Trust (TSX:SRU.UN) and Mitchell Goldhar’s SmartCentres Place, a 100-acre, 17 million square foot master planned development within the VMC that currently includes the KPMG Tower and will soon incorporate the 220,000-square-foot PWC tower.
Ken Karulas, Michael Hagerty, Eric Shaw and Garret Noiles from Cushman Wakefield represented the landlord, Smart Real Estate Investment Trust (TSX:SRU.UN) in this transaction. By Nadia Mohamed
Russell Reynolds Associates Leases 15,000 SF at 609 Main at Texas
Russell Reynolds Associates, a global search and leadership advisory firm, will establish an office at Hines’ 609 Main at Texas high-rise set to deliver this quarter in downtown Houston after agreeing to a 10-year lease for 15,000 square feet.
The firm will occupy space on the 35th floor of the 48-story, 1,056,658-square-foot tower scheduled to deliver in March at the corner of Texas and Main Streets in Houston’s central business district. The company will join Kirkland Ellis LLP, Orrick, Hogan Lovells and United Airlines in the Pickard Chilton-designed tower, which is more than 50% leased.
John Burke of JLL represented Russell Reynolds Associates, while Colvill Office Properties team of Damon Thames and Michael Anderson represented Hines. By Scott Layton
Virgin Mobile Signs Lease in One Kansas City Place for New Company Headquarters
After disclosing plans in July to relocate its corporate headquarters from Warren, NJ to downtown Kansas City as part of the re-launch of its new brand under Sprint (NYSE: S), Virgin Mobile has finalized a deal to lease 11,000 square feet of office space on the 32nd floor of One Kansas City Place at 1200 Main St.
Virgin Mobile is currently operating a temporary office on the eighth floor of the 42-story, 818,408-square-foot, Class A One Kansas City Place tower. The company expects to hire up to 100 people at its new office with plans to add 33 new employees in the first half of 2017.
Patrick Meraz, Jeffery Kembel and Matt Kiehne of JLL represented the landlord, GAW Capital Partners, in negotiations, while representatives with CBRE brokered the deal for Virgin Mobile. By Dana Gibson
Article source: http://www.costar.com/News/Article/Office-Lease-Up-January-23-21st-Century-Fox-News-Corp-to-Maintain-Corporate-HQs-in-12M-SF-at-Rockefeller-Center/188224?ref=/News/Article/Office-Lease-Up-January-23-21st-Century-Fox-News-Corp-to-Maintain-Corporate-HQs-in-12M-SF-at-Rockefeller-Center/188224&src=rss