New O & I Leads Week of 12-14-09

California
Stockton, CA- O'Reilly Auto Parts signed a 15-year deal for 519,840 square feet at 3412 Perlman Drive in Stockton, CA. The company will occupy the entire building and will move in once build-outs are complete. The estimated move in date is the second quarter of next year.

Delivered last year, the 519,840-square-foot industrial building is on a 32-acre parcel. The property features 76 loading docks, eight drive-in bays and a ceiling height of 28 feet to 32 feet. The building features heavy power with 2,400 amps.

Bob Taylor of Buzz Oates Cos. represented the landlord in-house. Rob Stephens and John McManus of Cushman & Wakefield represented the tenant.

Illinois
Chicago, IL- The Chetrit Group LLC signed three new tenants to long-term deals at One North Dearborn, the firm’s 17-story, 884,004-square-foot office high-rise in Chicago’s Central Loop.

The largest deal was with Adler School of Professional Psychology, which leased 101,000 square feet on the 15th and 16th floors. Move in is planned for the third quarter of next year. Scott Becker and Phil Utigard of Transwestern represented Adler.

Vangent Inc. will occupy 23,000 square feet on the 11th floor on April 1. Steve Hubberman, Robert Sevim and Richard Schuham of Studley Inc. represented the tenant.

NCS Pearson Inc. inked a 16,000-square-foot deal for 10th floor space. Move in is scheduled for April 1. Peter Block of Grubb & Ellis and Robert J. DeAngelis of Berzine & Co. represented NCS.

Michigan
Troy, Michigan-Dialogue Marketing, a telemarketing services company, signed a 31,848-square-foot, 65-month lease at 300 E. Big Beaver Road in Troy, MI. This will be a relocation of Dialogue's offices from northern Troy. The company is scheduled to move in February. The five-story, 148,977-square-foot office building was built in 1985 and is in the Troy Officentre building park in the Troy South submarket. Glenn DesRosiers of Friedman Real Estate Group represented the landlord, Osprey Management Co. LLC, in the direct deal.

Minnesota
Plymouth, MN- IQor Inc. leased 48,700 square feet in the OTC building at 12755 Highway 55 in Plymouth, MN. IQor, a New York-based debt collection agency, plans to move 550 employees from the Metropoint office to the new location. The company plans to increase its workforce by 60 people, and continue to grow through the end of 2010. The OTC building is two-story, 210,000-square-foot warehouse building.


New Jersey
Bedminster, NJ- Peapack Gladstone Bank leased 40,793 square feet at 500 Hills Drive in Bedminster, NJ. The bank is moving its headquarters to the location in spring 2010. The 97,753-square-foot office building is in the Bedminster Township submarket and was built in 1989. Jodie Matthews and Dennis McConnell of Jones Lang LaSalle represented the landlord. Jim Sousa, George Simson and Rick Barfuss of Weichert Commercial Brokerage Inc. represented the tenant.

Pennsylvania
Pittsburgh, PA- Education Management Corp. (EDMC) is launching a $30 million expansion in the Pittsburgh region, with plans to create about 600 new jobs over the next three years and retain more than 2,500 existing ones.

The private post-secondary education provider has leased an additional 17,589 square feet in its headquarters building, the K&L Gates Center in the Central Business District. EDMC now occupies 135,171 square feet in the 37-story office tower. Grubb & Ellis handled negotiations for the landlord, One Oliver Associates LP. Fischer & Co. acts as the exclusive leasing agent for EDMC in all leases.

Additionally, the company is expanding its 157,555-square-foot online higher education facility at Penn Liberty Plaza II in the Strip District, taking another 27,018 square feet. Move-in is slated for this weekend. The Buncher Co., the landlord, received in-house representation.

EDMC is also building a 41,367-square-foot data center in Robinson Township, PA. The first phase, which will consist of administrative offices, is due to deliver in the spring. The data center should be online by 2011. NAI is handling negotiations for the landlord and a deal is expected to be signed by next week.


Texas
Dallas, Texas- Oncor signed a deal to relocate its corporate headquarters to 1616 Woodall Rodgers Freeway, a 265,061-square-foot office building in Dallas' central business district. The electricity distributor will move more than 500 workers and consolidate operations in the eight-story property, which is less than a mile from its current corporate location.

The company will move from Energy Plaza, a 42-story, 1.03 million-square-foot office tower at 1601 Bryan St. in the CBD owned by entity ZSF/Dallas Tower Trust.

Central & Southwest Real Estate Services owns the American Electric Power building at 1616 Woodall Rodgers. Oncor is scheduled to move in the first quarter of 2010. The company cited the stand-alone property's accessibility to public transportation and proximity to the new Woodall Rodgers Park as the reason for its relocation.

Woodlands, TX-Vitruvian Exploration LLC, an independent oil and gas company, signed a deal for 15,333 square feet in the office building at 4 Waterway Square in The Woodlands, TX. The nine-story newly constructed Class A building totals 232,364 square feet and is in the Houston area. The Woodlands Development Co. developed the property in this year. Vice President Frank Onorato of Grubb & Ellis represented the tenant.


Virginia
Reston, VA- Reston Association, a not-for-profit community organization, leased about 30,000 square feet at 12001 Sunrise Valley Drive in Reston, VA. Penzance owns and manages Reston Corner I, a four-story, 100,000-square-foot office property. The community group will occupy space previously filled by Northrop Grumman, which left about a year ago to consolidate on other existing facilities. Penzance spent $3 million to renovate the 27-year old property and RA is the first tenant. Matt Pacinelli, the director of leasing at Penzance, worked with Terry Reiley, Jeff Roman and Tom Walsh of CB Richard Ellis to represent the owner.