Lease Up: Bulova On the Clock at Empire State Building; and More Major Corporate Moves from July 7-11
Other Tenants Include: Active Network, Aeterna Zentaris, Belk, Capital One, GE Electric, GoHealth Insurance, HOK, Jasper Technologies, Knowledge Universe, LightPath, Merrill Lynch and Pulte Homes
July 10, 2014
Bulova On the Clock at Empire State Building
Bulova Corp. leased the entire 33,214-square-foot 29th floor of the Empire State Building.
"Bulova has been a fixture in New York City since its establishment more than one hundred years ago, and when looking for the right space for our corporate headquarters, this monumental location was a clear choice," said Bulova Corporation President Gregory Thumm. "We look forward to residing in a building that shares Bulova's legacy of cutting edge design, technological innovation and strong affiliation with New York City."
Bulova was founded in the late 1800s on Maiden Lane in lower Manhattan, which was then the nucleus of New York City's jewelry industry. After relocating to Fifth Avenue in the early 20th century, the firm established a new headquarters in the Woodside section of Queens, where it has made its home since 1954.
Deborah van der Heyden and Paul Ferraro of JLL represented the. Landlord representation was provided by Ryan Kass and Fred Posniak of ESRT, along with William Cohen, Jonathan Tootell and Shanae Ursini of Newmark Grubb Knight Frank.
San Diego Software Firm to Move HQ to Dallas
By Randyl Drummer
Cloud-based software firm Active Network LLC is the latest company to announce relocation from California to Texas, planning to move its headquarters from San Diego’s Sorrento Mesa submarket to Dallas.
According to Texas Gov. Rick Perry’s office, the move - aided by $8.6 million in public funds through the Texas Enterprise Fund (TEF) - will bring 1,000 jobs and $13 million in capital investment to the Lone Star State.
Active Network’s relocation to Dallas will bring jobs in a variety of fields, including engineering, research and development and administration. The company’s current lease of 122,649 square feet at 10182 Telesis Court in Seaview Corporate Center expires in 2017 and it was not known if Active Network will continue to occupy some of the space or sublease it.
“This TEF investment is another example of Texas’ growing stature as a tech leader, and will further strengthen Dallas’ growing economy.” Perry said.
San Francisco-based Vista Equity Partners, which last year acquired Active Network along with two other California technology firms, Websense and Omnitracs, is said to be looking at KPMG Centre tower at 717 N. Harwood St., owned by World Class Capital Group of Austin to house Active Network. Vista Equity relocated Websense to Austin earlier this year.
Texas has landed a fair number of corporate relocations from California in recent months, most notably Toyota’s plans to move its North American headquarters in Torrance to Plano.
Active Network CEO Darko Dejanovic said “with the creation of a state-of-the-art global headquarters in downtown Dallas, Active Network will strengthen our ability to drive innovation, share best practices, and support our culture of excellence.”
“We see Dallas as an opportunity to centralize our location as we expand globally, recruit great talent, and increase our operational excellence,” Dejanovic said.
HOK Taking 39,000 SF of New HQs Space in Downtown St. Louis
As it prepares to celebrate its 60th anniversary in 2015, HOK will move to a new corporate address at 10 South Broadway in Downtown St. Louis.
HOK’s renewed commitment to the city’s center will re-purpose one of the city’s earlier office building.
“We are excited to be repurposing the long-dormant plaza at 10 South Broadway across from the historic Old Courthouse,” said Rebecca Nolan, IIDA, LEED AP management principal of HOK’s St. Louis office. “We are planning dynamic office space where the energy of Ballpark Village and the newly remodeled Gateway Arch grounds will be at our doorstep. Our design team has a tremendous opportunity to create community and collaborative space that will showcase the workplace of the future.”
The new office will feature a street-level patio to enliven the outdoor space at Market and Fourth streets. HOK will also create the St. Louis area’s first LEED v4 Commercial Interiors (CI) space, the highest standard yet adopted by the U.S. Green Building Council since LEED was established in 1998. HOK designed the region’s first LEED CI certified space for its current office in Metropolitan Square.
HOK is leasing two floors at 10 South Broadway and 39,000 square feet of space with the goal of creating a highly efficient space that supports collaboration.
Nolan added that the office space will feature “benching” to encourage greater collaboration and accommodate HOK’s highly mobile workforce in a virtually paperless environment. It will also include design labs, a model shop, and space for state-of-the- art video conferencing and creative presentations.
HOK will move into its headquarters by the end of the year, leaving Metropolitan Square where it has been headquartered since 1998. The firm employs more than 180 people locally.
HOK originally designed 10 South Broadway as The Equitable Building, which opened in 1971. The firm has shaped much of the downtown core.
Just two blocks west of 10 South Broadway, HOK is renovating Phillip Johnson’s landmark 700 Market Street building, revitalizing its presence downtown. 700 Market is being redeveloped by The Koman Group LLC as the new headquarters for The Laclede Group.
HOK was also the architect of record for Busch Stadium III (designed by Populous) and created the master plan for Ballpark Village.
It also designed its existing office location, Metropolitan Square, which opened in 1988. The firm’s lighting designers have illuminated many downtown landmarks including the Old Courthouse.
“HOK has shaped a lot our community, especially downtown,” said St. Louis Mayor Francis Slay. “I’m happy that HOK is renewing its commitment to downtown and will continue contributing to its vitality in new ways.”
Merrill Lynch Taking 40,000 SF in North Bethesda
Bank of America Merrill Lynch signed on as the lead office tenant at Federal Realty Investment Trust’s Pike & Rose, a new transit-oriented, pedestrian-friendly, mixed-use neighborhood at the top of the White Flint District of North Bethesda, MD.
Bank of America Merrill Lynch will occupy 40,000 square feet, half of the 80,000-square-foot LEED certified, Class “A” office building at 11810 Grand Park Ave. in Phase 1 of Pike & Rose.
Merrill Lynch Wealth Management is consolidating and relocating its regional offices to the location
Delivering in late 2014 and early 2015, the initial first phase of Pike & Rose also includes 500 high-end residential apartments; entertainment such as iPic Theaters and AMP, a performance venue associated with the Strathmore Hall Foundation; Sport & Health; retailers such as City Sports and The Gap; and restaurants such as Del Frisco’s Grille and Lettuce Entertain You’s Stella Barre Pizzeria and Summer House.
Aeterna Zentaris To Occupy Third Floor of SCRA’s Applied Technologies Center
Aeterna Zentaris is the first tenant to lease space at the SCRA Applied Technologies Center at Nexton in Summerville, SC, currently under construction.
Aeterna Zentaris will occupy the third floor of the building and is scheduled to move in upon completion of the new facility this fall.
With operations in Quebec City Canada and Frankfurt, Germany, biopharmaceutical firm Aeterna Zentaris recently established its North American business and global commercial operations in Charleston in early June. Approximately 60 direct jobs are expected in the state over the next few years.
SCRA broke ground at the Nexton campus in October of 2013 and expects to complete construction in September of 2014. The Applied Technologies Center will house SCRA Charleston-area operations and the majority of the company’s Charleston-area employees. Tenant companies will lease space as it is available.
LightPath Expands, Extends in Orlando
LightPath Technologies Inc. amended its lease with Challenger-Discovery LLC for the company’s headquarters and manufacturing facility at 2603 Challenger Tech Court in Orlando.
The rentable area of the leased premises was increased from 21,557 square feet to 26,077 square feet and the lease term was extended from April 30, 2015, to April 30, 2022.
Belk To Expand Union County E-Commerce Distribution Center
Department store retailer Belk Inc. is expanding its Union County, SC, e-commerce distribution and fulfillment center operations for the second time since establishing there in mid-June 2012. The $47 million investment will expand the facility footprint by 50% and add 20 new jobs, which will grow the company's Jonesville presence to 314 employees.
The expansion, which is expected to be completed in January 2015, will add more than 345,000 square feet of newly constructed space to the 515,000-square-foot building.
The Jonesville facility, at 3805 Furman L. Fendley Highway, was recently acquired by CPA:18 - Global, a non-traded REIT affiliate of global real estate investment trust W.P. Carey Inc. and is being leased to Belk.
The seller was an affiliate of Panattoni Development Co. and is also overseeing the construction of the expansion.
Belk and CPA:18 - Global will invest a collective $47 million, which includes funding for construction and to upfit the facility with equipment such as conveyor systems, racking and automation.
"Belk's e-commerce business continues to grow, and with it the demand for increased distribution and fulfillment operations. Our Jonesville facility has been a key factor in our belk.com growth, and we are pleased to be able to invest additional resources in and to bring additional jobs to Union County." -John R. Belk, president and COO of Belk Inc.
Panattoni was represented on the transaction by John Huguenard and Sean Devaney of Colliers Investment Services Group.
Knowledge Universe Renews, Expands at Portland’s Liberty Centre
By Amy Shaw
One of the Liberty Centre’s two major tenants has determined that remaining in their existing space is the best course of action after considering relocation. Choosing to expand into additional space at the Liberty Centre, Knowledge Universe is re-establishing itself as a major employer in the area, where they currently employ more than 400 people.
In recommitting to Portland, Knowledge Universe will be not only renewing its 79,971-square-foot space on floors 11-15 for ten more years, but will also be expanding into an additional 23,810 square feet of sublet space on the 9th and 10th floors. The direct and sublet deals represent a total recommitment to the Lloyd District submarket of 103,781 square feet, meaning that Knowledge Universe will be in slightly more than one-third of Liberty Centre’s total space. The other major tenant in the Liberty Centre is Liberty Northwest Insurance Corporation.
Located at 650 NE Holladay St., Liberty Centre towers 17 stories above Multnomah County. It is LEED Silver certified and Energy Star rated, and boosts numerous amenities including on-site management, 24-hour access, and proximity to a MAX Station, the Convention Center, and Holladay Park.
Knowledge Universe is a global education company that employs more than 30,000 teachers internationally and maintains a network of more than 2,000 education locations around the world. Their primary focus is on early childhood education, primary and secondary education, and higher education. Knowledge Universe has been in the Portland area since 1998, and owns brands such as KinderCare, Cambridge Schools, Champions, and CCLC.
Matthew Bassist of Langley Investment Properties represented the landlord, The Ashforth Company. James “Buzz” Ellis and Eric Haskins of JLL represented Knowledge Universe.
Capital One to Remain at Royal Ridge Business Park
By Anna Kurban
Capital One, an international financial services corporation, recently signed a renewal deal for its 123,740-square-foot space at 3939 W. John Carpenter Freeway in Irving, TX, extending its term through 2015. Capital One originally moved into the space in August 2000.
Capital One occupies the entire three-story office building, which sits on 7.93 acres in the Royal Ridge Business Park. Construction was completed in 2000, just prior to Capital One’s move-in.
Cassidy Turley’s Chris Taylor and Ward Eastman negotiated the renewal on behalf of the landlord, Beacon Investment Properties.
Jasper Technologies Leases 73,145 SF in Santa Clara
By Stephen Basham
Jasper Technologies Inc., a provider of cloud-based computing services, leased 73,145 square feet at the Bunker Hill Plaza in Santa Clara, CA.
Bunker Hill Plaza is located at 3003 Bunker Hill Lane in the Marriot Business Park. The 80,878-square-foot, two-story office building was built in 1979 and features a renovated lobby and outdoor recreation facilities.
Todd Beatty of Cassidy Turley in San Jose and David Hiebert out of Cassidy's East Palo Alto office represented Jasper Technologies. Colin Feichtmeir, Kelly Yoder and Steve Horton of Cassidy Turley in San Jose, along with Jim Beeger of Colliers International in San Jose, represented the owners, a joint venture between TMG Partners and Alcion Ventures.
GoHealth Insurance Subleases 42,000 SF in Chicago
By Jen Gerner
GoHealth Insurance, an insurance coverage consultant, signed a five-year sublease for 42,000 square feet in the office building at 219 W. Superior St. in Chicago.
The three-story building totals 42,000 square feet in the River North submarket. GoHealth is subleasing from the previous lessor, Schawk Inc., who moved out in April 2013. GoHealth will take occupancy in September 2014, making 219 W. Superior a single-tenant building once again.
Kyle Harding, Jay Heald and Todd Mintz of DTZ represented Schawk, while Paul Reaumond and Brad Serot of CBRE represented GoHealth.
National Residential Builder Signs Lease for New Home in Schaumburg
By Damian Smoter
Pulte Homes, one of America’s largest homebuilding companies, will soon be the newest tenant at 1900 E. Golf Rd. after signing a 24,810-square-foot lease for the entire third floor at the Centennial Center in Schaumburg, IL.
The 384,120-square-foot Centennial Center is a Class A, Energy Star-labeled office complex located just off the Jane Addams Memorial Tollway, about 30 miles northwest of downtown Chicago.
PulteGroup is based out of Atlanta, GA and has a presence in more than 20 states. The company's brand portfolio includes Centex, Pulte Homes, Del Webb and DiVosta Homes.
James Dingeman and David Saad of CBRE represented the tenant. Joe Stevens, Zachary Fox and Fred Ishler of Transwestern represented the landlord.
GE Electric Pre-leases 150,000 Square-Feet In Westway Plaza
By Victoria Cottman
Transwestern Development Co. has broken ground on a 312,000 square-foot office building known as Westway Plaza. The future Class A office building will be located at the northwest corner of Sam Houston Tollway and Clay Road in Houston, Texas and is expected to be completed in the second quarter of 2015.
GE Electric has already pre-leased 150,000 square-feet in the under construction office building. Eric Anderson, Transwestern's Executive Vice President and Carleton Riser Transwestern's President Of Development represented the building owner, while Craig Beyer and Warren Alexander of CBRE represented GE Electric.
For further information refer to Costar Property ID# 9252556 Carleton Riser, president of