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

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