Office Lease Up (Apr 13) Ally Financial Signs 322,000-SF HQs Lease in Detroit CBD

Last Weeks Largest Leases Include: Alnylam Pharmaceuticals, Bayern, Genzyme, Hillary Clinton, Juno, National Association of Broadcasters, New York Life, and more

A leading automotive financial services company, Ally's lease includes 13 full floors and puts an even tighter constraint on tenants looking to move into the city's central business district and occupy more than 100,000-square-feet of contiguous space, the result of large leases being signed in the CBD. This lease deal brings the building to 100% occupancy.

The newly named Ally Detroit Center is a 45-story, 957,355-square-foot, Class A office tower built in 1993 and designed by architects John Burgee and Philip Johnson. The building is recognized as the tallest office building in Michigan and houses Dan Gilberts Quicken Loans offices and various Detroit, MI-based law firms.

Beginning in spring 2016, Ally will consolidate its current headquarters in the Renaissance Center, along with other Southeast Michigan offices, to its new location, which is expected to house 1,300 employees.

James Ketai of Bedrock Management Services represented the landlord, Bedrock Real Estate, in negotiations. By Rudolph V. Walker III

The new location affords Alnylam 295,000 square feet of Class A laboratory and office space over six stories, more than doubling the size of its current 129,000-square-foot headquarters located across the street at 300 Third St. Alnylam will relocate to its new Kendall Square location following Vertex Pharmaceuticals move-out in May 2018.

Alnylam Pharmaceuticals is a life science company that is championing the development of RNAi - or RNA interference - therapeutics, a potential new category of medicines aimed at genetically-defined diseases with limited treatment options. The company signed a 15-year lease with two five-year options starting at an annual rent of $19.8 million with 3% yearly increases.

Under the lease agreement with Alnylam, BioMed has agreed to commit a total of $56.1 million towards base building and tenant improvements.

Steve Purpura, Eric Smith and Jonathan Varholak of Transwestern RBJ served as dual brokers in the transaction. By Brad Blum

The company will fully occupy the 10-story, 251,000-square-foot office building currently under construction at 50-60 Binney St. The project is expected to deliver summer 2017.

View post:
Office Lease Up (Apr 13) Ally Financial Signs 322,000-SF HQs Lease in Detroit CBD