Lease Up: NASA Contract Leads to Expansion for ITT Online Real Estate Investment Real Estate Today

31
Jan

Lease Up: NASA Contract Leads to Expansion for ITT

ITT Information Systems signed a lease for 26,708 square feet at 7855 Walker Drive in Greenbelt, MD.

After almost three years of protests, ITT has been awarded the Space Communications Network Services (SCNS) contract by NASA Goddard Space Flight Center to support its space and near-Earth networks. ITT was previously awarded the SCNS contract in October 2008 and again in April 2009 and July 2010, but NASA’s commencement of the contract work was delayed due to a number of protests filed by the incumbent contractor. The contract has a maximum potential value with all options exercised of $1.26 billion.

Niel Beggy and Dan McGivney of Cushman & Wakefield represented ITT and Todd Bosley and Tim Jaeger of CB Richard Ellis and Marc Witowski of Washington Property Company represented the owner.

MRA Merging Two Locations in One

Medical Reimbursements of America (MRA) plans to consolidate locations and relocate its corporate headquarters in late February to a 70,000-square-foot facility in the Brentwood / Cool Springs area of Tennessee.

Extensive renovations are currently being made to the new space, which formerly served as the Crescent Furniture showroom on Moore’s Lane.

The new headquarters brings together offices currently located in two separate sites; most of MRA’s more than 300 employees will operate out of the new location.

MRA’s new corporate headquarters will feature more than a dozen “huddle rooms” and conference rooms along with a recreational area large enough to include a pool table and video games

Technologically, MRA will invest to upgrade to a state-of-the-art data center to accommodate increased call volumes and enhance its integrated data processing.

Tory Burch Extends, Expands Corporate HQs and Showroom

Tory Burch, a luxury, lifestyle fashion brand, will be doubling its presence at 11 W. 19th St. in New York.

The fashion company has extended its 26,000-square foot lease and inked a deal for an additional 26,000 square feet of space on the eighth floor of the property, where it houses its corporate headquarters and showrooms. The new transaction brings Tory Burch’s total occupancy in the property to 52,000 square feet.

The Savitt Partners team of Bob Savitt and Carol Sacks negotiated the multi-faceted, 11-year lease expansion and extension on behalf of the building ownership, 11 West 19th Associates, LLC. Cushman & Wakefield brokerage professionals Don Preate and Jamie Katcher represented Tory Burch in the negotiations.

Assurance Agency Pulls Down One of the Largest Deals of the Year

Assurance Agency Ltd. signed a 61,239 lease renewal and expansion with Transwestern Investment Co., owner of One Century Centre at 1750 East Golf Road in Schaumburg, IL

In what is one of the largest Northwest suburban office lease transactions in 2010, Assurance Agency, Ltd., an independent insurance broker, renewed its existing lease for the 9th, 10th and 11th floors for a total of 42,997 square feet while taking an additional 18,242 square feet on the first and second floors.

Fred Ishler, Joe Stevens and Zach Fox of Transwestern are the exclusive leasing agents for the property. Assurance Agency, Ltd. was represented by Lou Hall, Paul Buckingham and Craig Cassell with Grubb & Ellis.

Concrete Products Maker Chooses Site in South Carolina

Marlboro County Economic Development Partnership and Carolina AAC announced that

Carolina AAC will open a state-of-the-art facility in Bennettsville, SC, in Marlboro County, to manufacture an innovative energy-efficient building material.

Spurred on by growing consumer demand and government mandates for green construction, the $16 million project will create 36 direct jobs with an additional 14 jobs added in the future. Carolina AAC produces autoclaved aerated concrete (AAC).

Carolina AAC is locating its first manufacturing facility in the Pee Dee region because of the area’s resource-rich environment, proximity to construction markets throughout the southeast, employment opportunities and enthusiastic local government support. The 56,000-square-foot facility is located in the Marlboro County Certified Industrial Park.

Resonetics Moving To New HQs in the Spring

Resonetics signed a 50,470-square-foot industrial lease for new corporate headquarters at 44 Simon St. in Nashua, NH.

Resonetics is one of the largest total solution providers of laser micromachining products and services in the world. The company is scheduled to occupy the new space in April of this year.

Stephen James, executive vice president/principal at NAI Hunneman, in collaboration with Chris Norwood of NAI Norwood, brokered the deal for Resonetics. CB Richard Ellis represented the landlord, Boston-based Liberty Properties LLC.

Whole Foods Moving To New Regional HQs in Chicago

Whole Foods Market, a natural and organic foods supermarket, leased approximately 36,000 square feet of space at 640 N. LaSalle St. in Chicago where it will move its Midwest regional headquarters.

The company is relocating its Midwest regional headquarters from a 24,000-square-foot space at 3241 N. Lincoln Ave. in the West Lakeview Neighborhood.

Melissa Rubenstein and Brian Atkinson of Jones Lang LaSalle represented the building’s owner, MAC Management Co. Inc. Kevin Veon of Newmark Knight Frank represented Whole Foods.

Additional Expansions and Relocations

20th Century Fox was occupying the entire 330,000 square feet of warehouse, studio and sound stage space at the 31st Street Business Park in Pittsburgh, PA until May 2010 when the lease expired. After a temporary hiatus, 20th Century Fox has signed a new deal with the property owner. According to Brian Kowalski of Industrial Business Brokers, the in-house leasing contact for 31st Street Business Park, 20th Century Fox signed a three-year deal to occupy 125,000 square feet, which 20th Century Fox will use to begin shooting a new television series. Dependent upon the success of this new series, 20th Century Fox may choose to exercise a two-year option. (By: Brent Mangum)

A2Z Development Inc. leased the entire 21st floor at 475 Sansome in the financial district San Francisco, CA. After filling the 21,419-square-foot floor, only partial floors remain available in the 353,989-square-foot, Class A office building. The building was awarded LEED Gold certification last year for its operating efficiency. A2Z Development is a subsidiary of Amazon, and develops the core software applications that power the largest DRM-free MP3 store in the world. It will relocate from the seventh floor of the building. Jim Dublin and Ze Figueirinhas of Jones Lang LaSalle represented A2Z Development; while the landlord, Mosten Management, was represented by Zach Siegel, Kelly Glass and Kristin Higby of Cushman & Wakefield. (By: Dan Bates)

Annie’s Homegrown leased 33,551 square feet in the 60,073-square-foot building at 1610 Fifth St. in Berkeley, CA. The natural and organic food company signed a five-year deal and is scheduled to move in by the first quarter of this year. Annie’s will relocate from Napa. Steve Crocker and Bill Kampton of Colliers International in Fairfield represented the tenant. Benjamin Harrison and Aileen Dolby of Colliers in Oakland represented the landlord, Cedar & Fourth Partners. (By: Linawati Collier)

Assurance Agency Ltd., an independent insurance broker, renewed its lease on the ninth through 11th floors for a total of 42,997 square feet, while taking an additional 18,242 square feet on the first and second floors in the office building at 1750 E. Golf Road in Schaumburg, IL. Lou Hall, Paul Buckingham and Craig Cassell of Grubb & Ellis represented Assurance Agency. Fred Ishler, Joe Stevens and Zach Fox of Transwestern are the exclusive leasing agents for the property. (By: James Ledger)

Atlantic Beverage Inc. will locate a new bottling operation in Spartanburg County, SC. The $10 million investment is expected to generate 300 new jobs in the next two years. The company will occupy an existing building near I-26. The company expects to bring the facility online in the next two months.

BioSante Pharmaceuticals Inc. entered into a ninth lease amendment with 111 Barclay Associates for space at 111 Barclay Blvd. in Lincolnshire, IL. The amendment, among other things, relocates the leased premises to a different location in the same building with increased square footage, consisting of approximately 20,000 square feet of office space; extends the term of the lease until Feb. 28, 2014; increases the monthly base rent to between $18,267 and $20,859 and BioSante’s proportionate share of operating expenses; and sets terms on the payment of work to be done on the leased premises by the landlord.

Kraiburg TPE Corp. will expand its business into an additional 18,986 square feet in Duluth, GA, in April. This brings the company’s total occupancy at Crossroads Distribution Center at 2625 N. Berkeley Lake Road, Building 200 to 60,706 square feet for another five years. The property is currently 100 per cent leased. Other tenants in the building include ProLogix Distribution Services and Anvil International. Luke Pope of Republic Property Co. represented the landlord, Republic Property Co. Inc. Ray Dankberg of Jones Lang LaSalle represented the tenant. (By: Brandon Young)

Mathematica Policy Research inked a 15-year, 125,429-square-foot lease for commercial office space at 1100 First St. NE, Tishman Speyer’s new LEED Gold certified building in the NoMa submarket of Washington, DC. The Princeton, NJ-based education policy firm has a local office at the Capital Gallery East Building. No completion date has been set for Phase II, a 350,000-square-foot structure. Geoff Kieffer of Woodmark Commercial Services negotiated for Mathematica. Dan Dooley was Tishman Speyer’s in-house representative. (By: Laurie Forbes)

Sandler O’Neill & Partners signed a 74,164-square-foot lease at 1251 Avenue of the Americas in New York. Occupancy is scheduled for 2012. John Cefaly, David McBride, and Jamie Katcher of Cushman & Wakefield represented Sandler O’Neill & Partners, L.P. David Falk, Peter Shimkin, and Nick Berger handled the deal for the building owner, Mitsui Fudosan America. (By: Lauren Hale)

The Mental Health Center of Denver purchased 4455 E. 12th Ave. in Denver for $3.5 million or $46 per square foot from the bRegents of the University of Colorado. The four-story, 76,600-square-foot, Class B office building was built in 1952 and is in Glendale. Mental Health Center of Denver acquired the property in order to turn the building into multiple medical facilities to meet the company’s current growth. The organization plans to move its current specialty clinics to the building to have one location. It also plans to build a parking garage on the open land. Both the buyer and seller were self-represented. (By: Hubert Davis)

The Reinvestment Fund, a community investment group and a national leader in financing of neighborhood revitalization, signed a 15-year lease for 20,702 square feet at 1700 Market Street in Philadelphia, PA. The building is Energy Star rated with 77 points awarded in November 2010. Patrick McGrath of Studley Inc. represented the tenant; while Craig Scheuerle and Jack Soloff of Grubb & Ellis represented the landlord. (By: Jenny Ham)

Tory Burch expanded by 26,000 square feet at 11 W. 19th St. in New York, NY. The tenant signed the deal for additional square footage on the eighth floor, bringing its total space in the building to 52,000 square feet. Occupancy for the eighth floor is scheduled for next year. Bob Savitt and Carol Sacks of Savitt Partners represented the landlord, 11 West 19th Associates LLC. Don Preate and Jamie Katcher of Cushman & Wakefield represented Tory Burch. (By: Jessica Wheeler)

Vitro, a 90-person San-Diego based advertising agency, subleased 23,000 square feet of a Class A office building in the Liberty Station Office District of San Diego, CA. Todd Holley, vice president of Voit’s San Diego office, represented Vitro. The sub-lessor, a defense contractor, was represented by Glenn Friedrich of Cresa Partners.
Advertisement:
Kaftan Communities – Put 45 Years of Success To Work for You

Online Real Estate Investment