Major Corporate Moves from: Aetna, Akerman, Axxess Technology, Blue Stream Labs, ChannelAdvisor, Ciena, DLA Piper, Elephant Insurance, EMC, Mannan Pharmaceuticals, Maplehurst Bakeries and Wal-Mart eCommerce

The term of the lease commences on the completion date, which is targeted to be Oct. 15, 2015. The initial term of the lease is for seven years.

Beginning on the Commencement Date, minimum annual rental payments will be $23.50 per square foot.

Duke Realty Corp.s Indianapolis office has been selected as the general contractor.

Construction of Maplehurst Bakeries new facility will begin this month with delivery slated for late March 2015. The building will include a 50,000-square-foot freezer/cold dock area, office and warehouse/production space and 32' clear height.

Bryan Poynter with Cassidy Turley represented Maplehurst Bakeries. Duke Realty was represented by Rich Prestholt and Blaine Paul and Kate Ems.

The flex buildings are located within the Sunnyvale Business Park, a nine-building office park owned by Principal Real Estate Investors that totals approximately 600,000 square feet.

The recent deal follows Wal-Mart's 182,265-square-foot lease of two other buildings in the same park, 600 and 860 W. California Ave.

Luke Wilson of Colliers International in Redwood City represented Wal-Mart. Susan Gregory, Kevin Moul and Dave Sandlin of Colliers International in San Jose represented Principal Real Estate Investors.

Currently located on the 12th floor of 1 S. Wacker Dr., Aetna is one of the nation's leading providers of health, dental, group life, disability, and long-term care benefits. The company is set to relocate from 1 S. Wacker in March 2015.

Link:
Lease Up (Aug. 18-22): Duke Realty Lands Two Big HQs Assignments

The following news release comes from the Office of Governor Pat Quinnby about his announcement regarding Cook County construction projects.

Governor Pat Quinn today announced capital investments of more than $31 million for construction projects in Cook County. The investments will create jobs and improve transportation safety and efficiency.Funded by hisIllinois Jobs Now!construction program, the projects are part of Governor Quinns agenda to create jobs and drive Illinois economy forward.

These investments in Cook County are putting people to work, creating jobs that will help drive the local economy, Governor Quinn said. They are also helping to repair and maintain Illinois infrastructure to improve safety and efficiency throughout the region.

Governor Quinn continues to fight for working men and women who have built Illinois infrastructure through their hard work, dedication, and calloused hands, Tom Villanova, President of Chicago & Cook County Building & Construction Trades Council, said. UnderIllinois Jobs Now!,thousands of Chicagoans have been put to work to improve Illinoiss infrastructure for coming generations.

Todays announcement follows last weeks news that Illinois unemployment rate declined in July to 6.8 percent from Junes 7.1 percent. During July, 11,200 new private sector jobs were added, including 3,900 manufacturing jobs.The states unemployment rate has fallen steadily since July 2013, when it stood at 9.2 percent, and has completed its steepest 12-month decline of 2.4 percentage points since August 1984. Since February 2010, Illinois has added 263,100 private sector jobs.

Construction payrolls are up by 8,500 jobs since the beginning of the year, nearly four times as strong as the gain posted for this same period in 2013. Specialty trade contractors payrolls posted healthy gains for the third straight month, fueled in large part by Governor QuinnsIllinois Jobs Now!capital construction program.

The projects below will be managed by the Illinois Department of Transportation.

The projects are part of Governor Quinns $31 billionIllinois Jobs Now!program, which will support more than 439,000 jobs over six years.Illinois Jobs Now!is the largest construction program in Illinois history, and is one of the largest construction programs in the nation.

Continued here:
Governor Quinn announces $31 million for construction projects in Cook County

MANILA - Senator Antonio Trillanes IV wants an ocular visit of the P2.2 billion Makati City office and parking building and invite experts to assess if it is overpriced.

During the hearing at the Senate on Wednesday, real property industry expert and appraiser Federico Cuervo said there many things and processes that must be done to assess the actual cost of a building.

Tapped by lawyer Renato Bondal to support a plunder case against the Binays, Cuervo estimated the Makati building price at P23,000 per square meter.

Bondal said this was way lower than the P84,000 per square meter cost infused by the local government to the project.

Cuervo clarified, however, that it was only a hypothetical costing.

When I was asked to come up with an estimate, we only used the market value The client only gave us a footprint of a hypothetical building, he said.

Asked if the building could have an actual cost of P2.2 billion, he said: Im not aware of the actual cost since I was not there. If there are obsolescences, if it is overdesigned, it was not considered in the market value. I also did not include the depreciation because I did not see the building.

SOIL FACTOR

He said the cost will also depend on the soil where the building was constructed.

Makati Mayor Jejomar Erwin Binay earlier said the building was not overpriced since construction had to take into consideration the area where it was put up, which was near Pasig River.

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Appraiser's estimate of Makati building 'hypothetical'

Developer Provident Realty Advisors is preparing to break ground on the next phase of its mixed-use project on North Central Expressway.

The 42-acre Preston Hollow Village has been under construction since last year at the northwest corner of Walnut Hill Lane and North Central.

Within 60 days, Provident Realty and partner Kroenke Holdings plan to start more than 500 apartments in three large buildings.

The rental units will be constructed just north of where Provident is building a shopping center and office project.

A Trader Joes grocery store anchors the retail center.

Leon Backes, CEO of Provident Realty, said he plans to start three seven-story apartment buildings starting in early October.

Were going to have a total of 511 units, Backes said. Each of the buildings will be a little different.

Ziegler Cooper Architects of Houston designed the apartment buildings.

The apartment development was always planned as part of Preston Hollow Village, one of the largest projects underway in North Dallas.

The mixed-use development is being built on the site of a former rental housing community that was torn down in 2008.

The rest is here:
Construction starts soon on next phase of huge N. Dallas mixed-use project

Makati City Mayor Jejomar Erwin Junjun Binay yesterday refuted allegations of overpricing in the construction of a building in the financial district, saying it is no ordinary car park but a world-class edifice.

Mayor Binay issued the statement before the Senate Blue Ribbon Committee which is conducting an investigation into the alleged overpriced Makati City Hall Building 2.

On the basis of these allegations, the mayor and his father, Vice President Jejomar C. Binay, were the subject of plunder and graft complaints filed before the Office of the Ombudsman. Both have denied the accusations.

At the hearing, the Makati mayor rejected perceptions the building was a mere parking building, saying its a world-class office building.

Yan po ang Makati City Hall Building 2, hindi po parking building, kundi isang office building. Para sa amin, hindi pwede and pwede lang. Ang ginawa po namin ay isang world-class building na pinakikinabangan ng mga taong gagamit nito, mga empleyado namin at ang libu-libong residente at kliyente ng Makati (That Makati City Hall Building 2 is not a parking building but an office building. For us, we dont want something mediocre. What we constructed is a world-class building that can benefit any people, our employees, and the thousands of residents and clients of Makati), Binay said.

Gusto namin ipakita na kaya ng Makati na maging (We want to show that Makati is capable of being) globally competitive, the mayor added.

Mayor Binay said their accusers Renato Bondal and Nicholas Enciso VI, both from the Bondal Law Office based their allegations of overpricing based on the data from the National Statistics Office (NSO).

But Mr. Chairman, the NSO is not the final arbiter on overpricing, this has been established by jurisprudence, the mayor said.

Binay also said that to prove overpricing, an actual canvass of similar items is needed. This was the ruling of the Supreme Court in the cases of the Commission on Audit (COA) versus Arriola and National Mental Health Center vs COA. He also said COAs guidelines are very clear.

When it was Bondals turn to speak, he told senators that the Binays made P2 billion from the construction of the parking building, saying the edifice was overpriced by as much as three times the average industry price per square meter for building construction. He, however, failed to substantiate how the Binays made P2 billion.

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Mayor Binay grilled at Senate, refutes overpricing allegation

Kimpton Hotel & Restaurants announced plans Tuesday to convert a historic LaSalle Street office building into a four-star hotel in what would be its fifth adaptive reuse project in Chicago.

The San Francisco-based company said it acquired The New York Life Building, a William Le Baron Jenney designed building constructed in 1894 at 39 S. LaSalle St.

When the $106 million renovation is completed in early 2016, the 14-story office building will include 281 hotel rooms, a restaurant and bar, meeting and event space, a top floor ballroom and 9,500 square feet of retail space on the ground floor.

The building, considered an important example of Chicago School high-rise construction, was completed as 12 stories facing LaSalle Street in 1894. In 1898, a 13-story addition was built to the east of the original building that received a one-story rooftop addition. A 14th floor was added to the entire building fronting LaSalle and Monroe streets in 1903, according to city records.

It was designated a Chicago landmark in 2006, and Kimpton CEO Mike Depatie said the plan is to maintain the look and the feel of this beautiful 1894 vintage building.

That is a decidedly different plan from eight years ago, when half of the total area of the building was to be torn down to make way for a 51-story high-rise, encroaching on the original buildings footprint. That project never materialized.

Kimpton acquired the property from Hamilton Partners, tapping a $203 million private equity fund it closed in February, with the goal of acquiring more than $500 million worth of hotels during the next three years.

It will be the fifth hotel project in Chicago for the company, which has renovated other historic buildings in the city into Hotel Burnham, Hotel Allegro, Hotel Monaco and Hotel Palomar. Depatie said the company hopes to begin the project before years end.

A lot of people that work in that area are staying elsewhere, Depatie added. We know theres a lot of hotel demand. Its just being accommodated elsewhere.

mepodmolik@tribune.com Follow @mepodmolikFollow @chibreakingbiz

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Kimpton buys landmark Loop building for new hotel

Washington, D.C. (PRWEB) August 19, 2014

Turner Construction Company celebrated its topping out with a short ceremony detailing the vision and trajectory for The New Sibley last Friday. Sibley Memorial Hospital, a member of Johns Hopkins Medicine, is continuing the implementation of its long range master plan with The New Sibley. The New Sibley will include a 40,000 SF state-of-the-art radiation oncology cancer center and a 200 bed replacement patient pavilion and emergency department, both of which will be LEED Certified Silver.

The New Sibley also includes designs to accommodate projected increased demand for emergency services, imaging and diagnostic services, integrated outpatient services, and physicians office space while responding to consumer demands for private patient rooms and modernized facilities. A rerouting of traffic to a new front door creates a more formal entry sequence for the medical center, decreasing the traffic burden on the residential side of the campus.

Jerry Price, Senior Vice President of Real Estate & Construction at Sibley Memorial Hospital explained, The New Sibley is the third phase of our master plan development. The first was the medical building and parking garage. The second was the radiation oncology facility and the third is the new Sibley bed tower. He elaborated that, "the new private patient rooms will be 'family friendly' and the largest in the market place.

The patient pavilion will feature all private medical and surgical patient rooms, supported by a decentralized nursing layout. A new obstetrics department will allow capacity for more than 4,500 annual births, supported by a new special care nursery, LDRs, and C-section rooms. A new emergency department will be up-sized to handle 45,000 annual visits, with expansion capability for 50,000 visits.

"We are thrilled to play an integral part in helping Sibley Memorial Hospital meet the evolving needs of its patients with the construction of The New Sibley," stated Ken Jones, Turners Vice President and General Manager. The New Sibley is projected to be open to the public in Winter 2016.

About Turner Construction Company Turner is a North America-based, international construction services company. Founded in 1902, Turner first made its mark on the industry pioneering the use of steel-reinforced concrete for general building, which enabled the company to deliver safer, stronger, and more efficient buildings to clients. The company continues to embrace emerging technologies and offers an increasingly diverse set of services. With an annual construction volume of $9 billion, Turner is the largest builder in the United States, ranking first in the major market segments of the building construction field, including healthcare, education, sports, commercial, and green building. The firm is a subsidiary of HOCHTIEF, a publicly traded company, and one of the worlds leading international construction service providers. For more information please visit http://www.turnerconstruction.com.

About HOCHTIEF HOCHTIEF is one of the most international construction groups worldwide. The company delivers complex infrastructure projects, in some cases on the basis of concession models. The Group operates in the transportation infrastructure, energy infrastructure and social/urban infrastructure segments as well as in the contract mining business. With nearly 81,000 employees and a sales volume of more than EUR 25 billion in FY 2013, HOCHTIEF is represented in all the worlds major markets. With its subsidiary Leighton, the Group is market leader in Australia. In the USA, the biggest construction market in the world, HOCHTIEF is the No. 1 general builder via its subsidiary Turner and, with Group company Flatiron, ranks among the most important players in the field of transportation infrastructure construction. Because of its engagement for sustainability, HOCHTIEF has been listed in the Dow Jones Sustainability Indexes since 2006. Further information is available at http://www.hochtief.com/press.

Source: Turner Construction Company

More here:
Turner Construction Companys Topping Out Ceremony Means We Are One Step Closer to The New Sibley

BUILDING PERMITS

Boulder

Building construction permits over $10,000 in value that were approved in Boulder between Aug. 4, 2014 to Aug. 10, 2014. Listed below are: the case number; address; total project valuation; owner name; contractor (if applicable); and description.

PMT2014-00705 803 Ithaca Drive; $241,692.00; Ronald Clement and Elaine Clement; Van Matre Construction LLC; second story addition and two-car garage addition to existing single-family dwelling. Second story addition to include master suite with wet bar area. Main level conversion/remodel of portion of existing garage into living space and workshop connected to new garage. Addition of covered porch and second story deck. Front yard setback variance per ADR2013-00224.

PMT2014-02218 1430 Brown Circle; $22,774.95; Robert Keller; Chris Kelley Contracting; after the fact permit per CPL2014#8212;00038. Scope of work includes the removal of illegal basement kitchen, reinforcing basement door header, finish of 430 square feet for living room and bathroom, and associated MEP.

PMT2014-02453 2525 Arapahoe Ave., A05; $117,919.62; Village Grill; Boulder Snow Removal & Landscaping; expansion and remodel of existing restaurant to include tenant finishes and associated MEPs. Total square footage of work is 1,878. See Minor Modification ADR2014-00081 for approval of expansion and exterior work to accommodate parking requirements and outdoor fenced-in seating.

PMT2014-02621 1136 Pearl St.; $15,000.00; City Boulder; Skycastle Homes, LLC; remodel of rear, exterior patio for Japango including replacement windows, paint, installation of EcoSmart portable fireplace.

PMT2014-02665 829 Mapleton Ave.; $20,656.35; Thomas Carson and Visda Carson; interior remodel of 390 square feet of existing breakfast nook, kitchen and bath. To include new insulation and windows in breakfast room. Includes associated MEP.

PMT2014-02941 1600 Commerce St.; $586,709.00; Ball Corporation; Sun Const. & Design Service Inc.; addition and remodel to existing "Ball Aerospace" building. Scope of work includes new lab, restroom, mechanical room and office space. Includes associated MEPs. This review is running concurrently with ADR2014-00117 (Minor Mod).

PMT2014-03013 506 Arapahoe Ave.; $49,800.00; John Lyon; remodel of an existing single-family dwelling residence. Scope of work includes moving existing kitchen to new a location, no new floor area to be added. Remodel includes removing existing bay window. Approximately 420 square feet affected by remodel. Includes all associated mechanical, electrical and plumbing.

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Boulder building permits: Aug. 18, 2014

For Immediate Release

August18, 2014 Halifax, N.S. Public Works and Government Services Canada

GeraldKeddy, Member of Parliament for South ShoreSt.Margarets, on behalf of the Honourable Diane Finley, Minister of Public Works and Government Services and the Honourable Kerry-LynneD.Findlay, Minister of National Revenue, officially broke ground at the construction site of the new leased office space for the Canada Revenue Agencys (CRA) Tax Services Office in Halifax, Nova Scotia.

The Government of Canada awarded a $35-million lease contract to Armco CapitalInc., the successful bidder in an open, fair and competitive process. The new building is being constructed in the Bayers Lake Business Park in Halifax, and will accommodate approximately 550work stations for CRAs Nova Scotia Tax Services Office.

The new leased office building will better accommodate CRAs workforce and space requirements and provides best value for Canadians, with approximately $28 million in savings over the long term.

After the move, the CRAs current downtown Halifax accommodations at the Ralston Building will be available for redevelopment, which will provide a unique opportunity for the community and contribute to the economic development of the Halifax downtown core.

The Harper Government is committed to obtaining the best possible value when finding accommodations for Government of Canada operations. This relocation will result in savings of approximately $28million for Canadian taxpayers and will provide a modern and productive work environment for Canada Revenue Agency employees.

This new facility will better meet the Canada Revenue Agencys operational needs and will help us improve service delivery for Canadian taxpayers. This is a good plan that offers the best solution to the CRAs employees and offers best value at the lowest cost.

The Canada Revenue Agency does important work here in Nova Scotia. This new building will not only provide a better working environment for CRA employees in Halifax, but will also contribute to local economic development.

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Harper Government Breaks Ground on New Office Building for Canada Revenue Agency Tax Centre in Halifax

Critics of the Vice President file a supplemental complaint with the Ombudsman supposedly showing the Makati building is 'more scandalously overpriced' than they initially thought

MANILA, Philippines Complainants against Vice President Jejomar Binay and his son, Makati Mayor Erwin Jejomar Binay Jr, filed a supplemental complaint with the Ombudsman on Monday, August 18, to cite a higher amount by which a Makati government building was allegedly overpriced.

In a 9-page supplemental complaint, Renato Bondal and Nicolas "Ching" Enciso VI cited a Commission on Audit (COA) memorandum showing 8 ordinances passed by the Makati city council allocating a total of P2.71 billion ($62 million)* for the construction of the disputed building.

Again comparing the new figure with data from the National Statistics Office (NSO) a method that Mayor Binay have disputed Bondal and Enciso said the building's construction was overpriced by at least P1.9 billion ($43 million*).

This is higher than what was cited in their initial complaint, which said the final contract price for the parking building was pegged at P1.56 billion ($35 million). The building, they said, was "even more scandalously overpriced" than they initially thought.

The building's construction covered the years 2007 to 2013, which included the terms of two Binays as the city's chief executive.

The senior Binay was Makati mayor from 2007 to 2010, while his son and co-accused is the incumbent.

New evidence prepared by co-accused

The complainants are now using as evidence a memorandum prepared by COA supervising auditor Cecilia Caga-anan. The document was supposedly a report submitted to Caga-anan's superiors.

Bondal and Enciso claim the document "indubitably provides the ammunition" to their charges.

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Complainants: Binay building overpriced by higher amount