More Headquarters Property News from: Phillips 66, Atmel Corp., Aveksa, Continental Tire, Gentris, Just Energy TX, Mercer Belanger, Neoscape, Sempra US, Spring Wireless, Unisource, UN Foundation, Vector Group, Wells Fargo and more
Sysmex America Inc., a wholly owned U.S. subsidiary of Sysmex Corp. in Kobe, Japan, relocated its corporate offices to in Lincolnshire, IL.
This move follows the development of a virtual instructor-led training studio and the centralization of its logistics operations to a Buffalo Grove, IL, facility in April 2012. The company also retains extended operations at its reagent plant and its Mundelein, IL, facilities.
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Collectively, the sites serve as the headquarters for the Americas, which has oversight for the offices in Illinois, manufacturing reagent plants in Illinois and Brazil, a Miami office overseeing Latin America customer support.
The company's 162,739-square-foot of additional space in Lincolnshire and 147,000 square feet in Buffalo Grove, accommodates the company's continued growth and need for expansion.
Sysmex America's move follows the company's first quarter 2012 announcement regarding the expansion of its sales force to accommodate increased demand for Sysmex hematology, urinalysis and middleware offerings.
Following the relocation to Lincolnshire, an affiliate of Cole Real Estate Investments purchased the property for $49.7 million cash ($305/square foot), free and clear of existing debt.
HFF arranged a $22.5 million, fixed-rate financing through a national life company lender on behalf of the buyer. The HFF investment sales team representing the seller was led by senior managing directors Jeff Bramson and Jaime Fink along with director Mark Katz.
HFF’s debt placement team representing the borrower was led by senior managing director Kevin Mackenzie and managing director Stephen Skok.
Phillips 66 to Build New Global HQ In West Houston
By: Randyl Drummer
Phillips 66, recently spun off from ConocoPhillips, is acquiring 14 acres off Beltway 8 West between Westheimer Road and Briar Forest Drive in Houston’s Westchase submarket for development of a new global headquarters campus.
The Houston-based oil and energy company searched for several months before settling on the site at 2101 CityWest Blvd. to be acquired from Thomas Properties Group Inc., said Greg C. Garland, chairman and chief executive officer of Phillips 66, which employs 14,000 people worldwide.
The company is working on a design and will begin construction when plans are finalized and permitting in place for the campus which will include office space
, conference and training facilities, and wellness and dining options. Construction is expected to take two to three years once ground is broken.
Jim Thomas, chairman and CEO of Thomas Properties, said the site is in the heart of one of the most desirable business sections in the city among prominent companies and near major roadways. Apache Corp. and Halliburton Co. are among the companies with large corporate presences in Westchase.
Phillips 66 moved its corporate offices from the ConocoPhillips campus in the Energy Corridor to temporary headquarters at the Pinnacle Westchase building after spinning off from ConocoPhillips in May.Phillips 66
Phillips 66 will build its new global headquarters at a 14-acre site in the Westchase District of Houston. The property, which will be acquired from an affiliate of Thomas Properties Group Inc., is off Beltway 8 West, between Westheimer Road and Briar Forest Drive.
"We searched for several months for the right site to build a headquarters campus where our employees and future employees can come together to work, and develop their skills and talents," said Greg C. Garland, chairman and CEO of Phillips 66.
The company is currently working on a design for the headquarters and intends to begin construction when plans are finalized and permitting is in place.
The campus will include office space, conference and training facilities, along with wellness and dining options. Once ground is broken at the new site, construction is expected to take between 24-36 months.
After emerging as an independent downstream company in May, Phillips 66 relocated its corporate offices from the ConocoPhillips campus in the Energy Corridor to temporary headquarters at the Pinnacle Westchase building.
By: Shane Beyer
APS BioGroup acquired the industrial manufacturing building at 2235 S Central Ave. in Phoenix, AZ, from The Peiterson LP of Las Vegas for $3.5 million, or about $43 per square foot.
The 80,640-square-foot building was constructed in 1992, just off I-17 on 4.5 acres in Maricopa County.
For APS BioGroup, the acquisition marks a relocation of its headquarters and expansion of its operations within Phoenix. APS is a manufacturer of health products and the world's largest producer of colostrum products.
Will Strong, Bo Mills, Mark Detmer and Jackie Orcutt of Cushman & Wakefield represented the buyer. Loren Peiterson represented the seller in-house.
GI Partners, a private equity real estate firm, acquired the eight-story, 198,033-square-foot technology headquarters of Atmel Corp. in San Jose.
Atmel signed a 10-year, $52.6 million lease at 1600 Technology Drive in August for new corporate headquarters.
The acquisition is the first from TechCore LLC, a $500 million discretionary core real estate fund launched earlier this year and managed by GI Partners on behalf of California Public Employees' Retirement System (CalPERS). GI Partners and CalPERS formed TechCore to acquire technology-advantaged properties, including data centers, internet gateways, corporate campuses for technology tenants and life science properties in core MSAs and leased to industry leading tenants.
Aveksa Inc., a provider of business-driven identity and access management solutions, opened a new corporate headquarters office to support the company's rapid expansion.
The new facility at 303 Wyman St. in Waltham, MA, more than doubles the space of Aveksa's previous headquarters and includes a state-of-the-art engineering lab.
Since the beginning of 2012 Aveksa has increased its headcount by 50% and expects to grow its total staff by 80% in the next 12 months.
"Due to Aveksa's tremendous growth over the last 18 months we literally ran out of space at our last corporate headquarters," said Vick Viren Vaishnavi, president and CEO. "Our new headquarters provides Aveksa with a state-of-the-art facility that will not only offer plenty of space to house our current employees, but will also ensure that we have the capacity to add significantly more staff as we continue to aggressively grow the business."
Cambridge Security Services
Cambridge Security Services is relocating its headquarters and National Command Center from Manhattan to Newark, NJ. Cambridge Security Services' new 10,000-square-foot facility is in downtown Newark, at 1100 Raymond Ave./90 Mulberry St.
"We took a long hard look at what was best for our clients and our company, and we ended up relocating here, in my old home town. That's a good feeling," said Stanley C. Czwakiel, president, Cambridge Security Services.
The relocation from Manhattan to Newark is expected to generate 200 new jobs and he is hoping to supply more security within the city and also recruit and hire from Newark.
Con-Pearl North America
Con-Pearl North America, a maker of lightweight recycled plastic boards, plans to establish its first North American production facility in Greenville, SC. The $14.25 million investment is expected to generate 51 new jobs over the next five years.
Con-Pearl North America, a subsidiary of Germany-based Friedola-Tech, will locate its new facility in Greenville County at 6400 Augusta Road. The company expects to begin operations at the facility in October of this year.
The South Carolina Coordinating Council for Economic Development approved a set aside grant for $150,000 for building upfit.
Hendrick Construction Inc. completed a 16,500-square-foot expansion of Continental Tire's North American headquarters facility in Indian Land, SC.
The new space will be used for administrative personnel, and it will support a new tire manufacturing plant under construction in Sumter, SC.
The Continental headquarters on MacMillan Park Drive features individual offices, clusters of work stations and several conference rooms. It also serves as a call center.
Gentris Corp., a provider of pharmacogenomics and biorepository solutions, completed a significant expansion to its Morrisville, NC, facility at 133 Southcenter Court.
The first phase of the expansion included additional office space and a large, multipurpose conference room, which will accommodate scientific training and education programs. The second phase of construction tripled the available capacity of the clinical sample biorepository in order to meet future demand.
"As demand for clinical sample storage grows, we needed a larger, dedicated facility for sample management and biosrepository functions," said Eric Hall, Gentris vice president of Clinical Operations and Biorepository. "Pharmaceutical companies are increasingly recognizing the value of banking clinical trial samples for immediate or future testing. By tripling the size of our biorepository space, we have increased our flexibility to manage and store a large number of diverse sample types and serve our rapidly expanding client base."
Just Energy TX
By: Heather Berwanger
Just Energy TX LP signed a 46,417-square-foot lease renewal and expansion in the Galleria Plaza I in Houston. The natural gas, electricity, and green energy solutions company added an additional 19,281 square feet to its existing space in order to accommodate the firm's growth after the acquisition of Fulcrum Retail Holdings.
The 11-story, 216,481-square-foot, Class B office building
at 5251 Westheimer Road was built in 1976 and is in the Galleria/Uptown submarket.
Rollie Andre of Cresa Houston represented the tenant. David Baker and Kelli Crutchfield of Transwestern represented the landlord, Chase Merritt.
Lower Fairfield Art Center
The Lower Fairfield Art Center Inc., a newly founded nonprofit art organization, agreed to purchase the Stamford Post Office at 421 Atlantic St. in Greenwich, CT, for an undisclosed price.
"We know this is a great use for this historic structure," said Debra Sherwood, the executive director and founder. "The layout of the building's 42,600 square feet is very suitable to convert from an architecturally significant Neo Classical icon for the reuse as an Art Center."
The Art Center or LFAC will have ample exhibition space for a wide range of interests and will house a comprehensive art education setting for children and adults.
By: Cecily Brennan
Mercer Belanger PC signed a 10,552-square-foot lease at Regions Tower at One Indiana Square in Indianapolis, IN. The space will become the new corporate headquarters for the mid-sized law firm founded in 1928 with a focus on real estate, health care, and estate and trust law.
Steve Beals and Richard R. King, III of Lee & Associates represented the tenant. Ralph Balber at Newmark Knight Frank Halakar represented the landlord, McKnight Property Management LLC.
Neoscape, signed a lease for 169,000 cubic feet at 23 Drydock Ave. in Boston's "Innovation District" and took occupancy in July. Cubic feet you ask. Neoscape is a creative agency for 3D visualization, film and interactive services and obviously thinks in 3D. The firm leased approximately 13,000 square feet.
The decision to move from the Fort Point Channel area stemmed from the agency's desire to expand to a larger, more innovative space that was better equipped to meet the needs of the studio's culture and workflow.
"Spanning just two small floors, our previous location lacked the space we needed to effectively collaborate and use our tools and creativity to their fullest potential," said Robert MacLeod, co-founder of Neoscape. "Our new office is one large, open floor with expansive windows which creates bright, collaborative workspace and the ability for all of our teams to seamlessly integrate and work together. The 13-foot ceilings are also better equipped to accommodate Neoscape's filming equipment and new, state-of-the-art green screen studio, allowing us to create innovative work that exceeds industry standards."
To aid in the design and build process of their new headquarters, Neoscape enlisted two companies with which they have longstanding relationships, Baker Design Group and Commodore Builders.
Sempra U.S. Gas & Power
Sempra U.S. Gas & Power LLC, a subsidiary of San Diego-based Sempra Energy, established a new regional headquarters in Greenville, SC.
The office will support existing natural gas operations, as well as lead new business development throughout the Southeast region with a focus on energy infrastructure and services. Approximately 40 employees are expected to be based in Greenville.
"Expanding our natural gas business in the Southeast is a strategic priority as consumer and industrial demand for this clean, reliable fuel continues to rapidly grow," said Mike Gallagher, regional president of natural gas for Sempra U.S. Gas & Power. "Basing our natural gas operations in Greenville brings us closer to our existing customers and positions the company to take better advantage of the evolving market opportunities in the region."
Sempra U.S. Gas & Power companies currently operate two natural gas distribution utilities in Alabama and Mississippi, along with natural gas pipelines and more than 30 billion cubic feet of underground natural gas storage throughout the Gulf Coast.
Spring Wireless, a provider of mobile application software and services, completed its move into its permanent U.S. headquarter facilities in Reston, VA. The new location is at 11710 Plaza America Drive.
The new location will be the permanent location of the company's executive team and a base of operations for achieving the company's aggressive goals for growth in key U.S. markets. The company had been operating its corporate headquarters out of temporary office space, also in Reston, since the beginning of the year.
By: Arris Noble
Trisect, a retail and promotional marketing agency, leased 30,000 square feet of office space at 130 S. Jefferson St. in Chicago's West Loop.
After three consecutive years of more than 50% growth, the company decided to relocate its headquarters from 300 N. Elizabeth St.
Trisect enlisted Steve Schneider and his team at DTZ, a UGL Co., to identify and negotiate new space that would incorporate the agency's collaborative work style as well as provide the highest level of functionality.
The end result was 130 S. Jefferson, a five-story office building that totals 70,000 square feet. Trisect will be its largest tenant taking the entire fourth and fifth floor.
Dan Kaplan and Patricia Janda of Loft Development were the owner's in-house representatives.
By: Finerve Holder
Unisource Worldwide Inc., a provider of paper, packaging design, maintenance equipment and logistics solutions, leased 16,000 square feet at Governors Lakes at 3091 Governors Lake Drive, Building 100 in Norcross, GA. The company's national headquarters is nearby in the same park at 6600 Governors Lake Parkway.
Building 100 is a five-story, 102,142-square-foot, Class A office building in the Norcross/Peachtree Corners submarket. The property was developed in 1986 on 5.61 acres.
Matt Davis of Resource Real Estate Partners represented the landlord, Macon Highridge Property I LLC. Edward Easterlin and Julian Brown of Transwestern handled the deal for Unisource Worldwide.
The United Nations Foundation leased 85,000 square feet at 1750 Pennsylvania Avenue, NW in the heart of Washington, DC’s Central Business District, just one block from the White House and Old Executive Office Building.
The UN Foundation, which currently operates out of two locations in Northwest DC, will be expanding and consolidating in its new location in January 2014.
CBRE’s Tina Weaver represented the UN Foundation. Brendan Owen, chief leasing officer for the building owner, Vornado represented the landlord in the transaction.
The UN Foundation is working with Urban Realty Advisors for project management services and STUDIOS Architects for architectural services.
Vector Group Ltd. entered into an office lease with Frost Real Estate Holdings LLC for 12,390 square feet of space in an office building 4400 Biscayne Blvd. in Miami, FL.
The landlord is affiliated with Dr. Phillip Frost, the beneficial owner of 18.1% of the Vector Group.
The initial term of the lease is five years, commencing by March 1, 2013. The lease provides for payments of $30,975 per month in the first year increasing to $35,202 per month in the fifth year, plus applicable sales tax. A $220,000 tenant improvement allowance will be credited to the rent pro-rata over the initial five-year term
Vector Group, currently at 100 S.E. Second St. in Miami, owns tobacco product firms Liggett Group LLC and Vector Tobacco Inc. and New Valley LLC, which owns a 50% ownership interest in Douglas Elliman Realty LLC, which operates the largest residential real estate brokerage company in the New York metropolitan area.
Wells Fargo Bank
Wells Fargo Bank renewed its lease with MPG Office Trust at Wells Fargo Tower in the Bunker Hill area of downtown Los Angeles.
Wells Fargo Bank agreed to a 10-year lease renewal for the entirety of its current office, retail and museum space totaling 291,000 square feet. Wells Fargo has the option, exercisable over the next three years, to contract its office space by 89,000 square feet. Wells Fargo also has the option, exercisable over the next two years, to expand its office space by 25,000 square feet.
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