Office Lease Up (Leap Day 2016) Linde Americas Consolidates HQ in New 116,000-SF Bridgewater Lease
Weekly Wrap-Up of Largest Reported Office Leases Include: BakerHostetler, Charles River Analytics, CSC, Editas Medicine, Lifewave, and more
February 29, 2016
Linde Americas, a major supplier of gases used in industrial, medical and commercial applications, will consolidate its headquarters for North and South America at 200 Somerset Corporate Blvd. in Bridgewater, NJ, after signing a new 115,900-square-foot lease.
With offices currently in Murray Hill and New Providence, NJ, the company plans to start relocating 450 employees to its new space in the Somerset Corporate Center II building this summer.
"We want to provide our employees with a state-of-the-art work environment that will enable Linde to safely and reliably serve its customers and achieve profitable growth in the Americas," said Pat Murphy, president of Linde Americas. "Our company has maintained a presence in Murray Hill since the 1940s. Over the years, we have made substantial investments and have expanded our presence in this location. After an exhaustive study, however, we concluded that Linde now requires a new office space solution to meet current and future needs. The new facility in Bridgewater offers a more modern and appropriately sized work environment that will enable Linde to remain in New Jersey, close to the epicenter of where our employees currently live.”
The eight-story, 256,000-square-foot office building was constructed in 2000 in the Route 22 West submarket of Somerset County. Peter Bronsnick with SJP Properties represented the landlord in-house. Daniel Loughlin, Jim Medenbach and Scott Lesh with JLL represented Linde Americas in lease negotiations. By David Weinberg
Charles River Analytics Renews, Expands to 83,000 SF in Cambridge
Charles River Analytics, a computer technology firm that develops custom systems for government and commercial clients, has expanded its footprint at KBS Realty Advisors' 625 Mount Auburn St. building in Cambridge, MA.
The long-time tenant extended its lease and will now occupy 83,177 square feet at the 136,585-square-foot, three-story office building, in the West Cambridge/Alewife submarket within two miles of Harvard Square.
The property was completed in 1962 and last underwent renovations in 2001, when Charles River Analytics first took occupancy. KBS Realty Advisors acquired the building in 2007 for $29 million, according to CoStar information.
Robert Fitzgerald of CBRE/New England represented KBS Realty Advisors, while Curtis Cole, also of CBRE/New England, represented Charles River Analytics. By Kara Franz
BakerHostetler Leases 67,960 SF at The Proscenium in Midtown
BakerHostetler leased 67,960 square feet in The Proscenium at 1170 Peachtree St. in Midtown Atlanta. The law firm will consolidate 48 attorneys and 24 staff members from two current offices in the 24-story, 533,135-square-foot office tower.
"We’re excited to bring together both groups of attorneys into one dynamic, modern office that will improve efficiencies and provide us with space for substantial growth over the coming years," said Joann Gallagher Jones, managing partner of the firm’s Atlanta office.
BakerHostetler’s lease includes part of the seventh floor and all of the eighth and 24th floors. The firm is expected to take occupancy later this month. CBRE represented BakerHostetler in negotiations with building owner John Hancock Real Estate. By Jeff Bettigole
Midland Credit Management Takes 62,318 SF in Troy
Midland Credit Management, a company specializing in debt recovery solutions, leased 62,318 square feet in the office building at 320 E. Big Beaver Rd. in Troy, MI.
Known as Building B, the 146,336-square-foot, five-story building was constructed in 1986 in the Troy Officentre and renovated in 1995, according to CoStar information. Midland, a subsidiary of international specialty finance company Encore Capital Group, will occupy the third and fourth floors.
Andrew Gooliak and Evan Djikas of Colliers International represented the tenant, while Glenn DesRosiers of Friedman Integrated Real Estate Solutions represented the landlord, Osprey Management Co. By Karen Kester
CSC Signs for 62,000 SF for HQs Lease at Tysons II
Computer Sciences Corp. will relocate its corporate offices from Falls Church, VA to Tysons Corner after the information technology company signed a lease for 61,687 square feet at 1775 Tysons Blvd.
The 476,913-square-foot, 18-story office tower is currently under construction within Tysons II, Lerner Enterprises’ master-planned development that includes the 800,000-square-foot Tysons Galleria shopping center, 286-unit Lillian Court condominium building, and more than 1.4 million square feet of office space across 1600, 1650, 1750 and 1800 Tysons Blvd.
CSC is the second tenant to sign on at 1775 Tysons Blvd. following the 125,000-square-foot lease by EY in mid-2015. The company is expected to relocate from its current headquarters at 3170 Fairview Park in Falls Church to the eighth and ninth floors of 1775 Tysons this spring.
Daniel Evans and Robert Anderson III of JLL represented CSC in negotiations, while Brian Tucker, Moe Hamilton and John Dragelin of Cushman & Wakefield represented ownership. By Walt Brown
Editas Medicine Takes 59,800 SF in Cambridge
Editas Medicine Inc. entered into a lease with Alexandria Real Estate Equities for office and laboratory space at 11 Hurley St. in Cambridge, MA. The genome-editing technology provider intends to relocate its corporate headquarters this coming fall, pending completion of certain renovations to the property.
The term of the lease for 59,783 square feet will begin on Sept. 1, 2016. The company has the option to extend the lease for an additional 5-year term. By Mark Heschmeyer
Highland Homes Renews, Expands in Plano
Highland Homes signed a renewal for 34,266 square feet and expanded into an additional 5,068 square feet at Parkwood Place in Plano, TX. The three-story, 98,750-square-foot office building in the Upper Tollway/West Plano submarket was built in 2006. KBS Realty Advisors acquired the property in 2012, according to CoStar information.
Highland Homes has had its base of operations for home building in the Dallas/Fort Worth, Austin, Houston, and San Antonio markets on the top floor of the building for the past 10 years. Scott Hobbs of CBRE provided tenant representation for Highland Homes, while Blake Shipley and Jeff Eckert of JLL represented KBS Realty Advisors. By Chaka Baker
RUI Expands to 30,845 SF in Melville, NY
RUI Credit Services has taken an additional 11,834 square feet with The Feil Organization at the Melville Square Corporate Center at 1305 Walt Whitman Road in Melville, NY. The company will occupy 30,845 square feet on the second floor of the building, in Long Island's corporate headquarters corridor on the border of Nassau and Suffolk counties.
"The building's fully redundant backup power was a key element in the deal, as was the availability of contiguous space for RUI's expansion," said Nicholas Forelli, director of leasing for Feil.
Feil acquired the 165,310-square-foot building in September 2015. Richard Caputi of Cresa Long Island represented RUI. Forelli and David Turino, director of leasing, represented The Feil Organization. By Mark Heschmeyer
Lifewave Completes 23,564-SF Lease in San Diego
Lifewave Inc. completed a 10-year, 23,564-square-foot office lease to occupy the entire 9775 Businesspark Ave. in San Diego. The company, a health technology company that markets a variety of non-transdermal patches containing various minerals and nutrients, will relocate 80 employees from its current Kearny Mesa location totaling 20,000 square feet in June 2016.
Ron Magnaghi, senior managing director, at Newmark Grubb Knight Frank in the firm’s La Jolla office, represented the tenant. The landlord, HighBrook, was represented by Scott Kincaid of CBRE. By Mark Heschmeyer