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STRADLING STAYS IN NEWPORT CENTER WITH NEW LEASE
New Deal for 66,000 SF at longtime HQ
Orange County Business Journal
Saturday, January 19, 2013
By Mark Mueller
Randall S. Parker
Steven T. Card
James N. Travers
Travers Realty
Clients:Stradling Yocca Carlson & Rauth, P.C.
Where: Orange County, CA
Comments: "At the end of the day, we reviewed the market and felt it was the best decision to remain in
Fashion Island," saidRandall Parker, President of tenant brokerage Travers Realty Corp., who worked on the lease
with colleaguesJames Travers and Steve Card.
Reprinted From:Orange County Business Journal. January 2013
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TRAVERS NEGOTIATE THE "DEAL OF A LIFETIME" FOR BEVERLY HILLS BAR ASSOCIATION
New Home for BHBA
By Lawrence H. Jacobson
President-Elect BHBA
For as long as I can remember, it has been a "dream" of the Beverly Hills Bar Association to have a new home for the Bar. A home that reflects all that we are and all that we stand for: leaders in the bar association world, presenters of first rate, continuing legal education programs, and providers of the highest standard of service to our members and the legal community and the larger community. In recent years, as we had outgrown our current offices physically, technologically, and perhaps even in terms of image – this dream of a new home became a "need."
And how fortunate we are that, as we begin the celebration of our 80th Anniversary (1931-2011), we have just entered into a lease for wonderful new offices in Beverly Hills. This quality space will serve as a home for our members, our leaders, our staff, colleagues, friends and the community.
Approximately five years ago at a Board of Governors Strategic Planning Session, and at every subsequent retreat session, focus group and even informal discussions with leaders and members, when asked about the most important changes for the future, almost everyone put finding a new home for the Bar at the top of the list.
Following the request of the Board of Governors, the Building Committee, which I was honored to chair, was entrusted with the task of finding a suitable facility. Despite the ebbs and flows of the economy and the Beverly Hills real estate market, hundreds of potential locations were considered, and dozens were toured. With the assistance of Jim Travers of Travers Realty, the search finally focused on three sites. After extensive negotiations, Travers Realty and our Executive Director Marc Staenberg negotiated what can truly be said is the deal of a lifetime.
The facility at 9420 Wilshire Boulevard is one of the premiere office buildings in Beverly Hills. We were able to lock in very favorable rental rates for the next decade with a new 11-year lease including options.
When the project is complete in 2012, the Bar will relocate from its present 4,148 square foot space to a nearly 10,000 square foot Bar Center designed by a major national architecture firm and custom built for the Bar Association.
The new offices will have upgraded facilities to accommodate our members at programs, meetings and events, plus allow our staff to provide services at the highest possible level.
Two key features of the new premises will be flexible meeting rooms with sufficient capacity to accommodate growing audiences at our many MCLE programs heretofore held at offsite venues and increased visitor parking, which will allow most of our MCLE programs to be presented on-site at a significant cost savings.
As the BHBA prepares to celebrate 80 years, we look to the future in a welcoming and wonderful new home consistent with our position as a preeminent Bar Association serving the Los Angeles region and one of the leading metropolitan bar associations in the country. We eagerly look ahead to our next 80 years of serving our members and leading the legal profession and our community. And we can't wait to welcome all our members and friends as we celebrate our new home.
Reprinted September 27, 2011 from: http://www.lawrencejacobson.com/Lease-Signing-Article.pdf
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TRAVERS AND FISH REPRESENT WELLS FARGO EXPANDING-AGAIN-AT SL GREEN'S 100 PARK
Perhaps nobody has told Wells Fargo that the United States-and the rest of the world-has been in the midst of an economic downturn. Indeed, during the past three grueling years, Wells Fargo Trade Capital, a subsidiary of Wells Fargo Bank, has expanded its office space at 100 Park Avenue three times. And keeping with its rosy outlook, the group announced yesterday its fourth expansion deal, this time for an additional 34,044 square feet on the trophy building's entire 14th floor.
The subsidiary, which focuses on asset-based lending, now occupies 102,805 square feet at the 36 story, SL Green-owned building, malting it among the REIT's largest tenants. The leasing activity comes on the heels of SL Green's $72 million redevelopment of 100 Park, which was named by the Building Owners and Managers Association as 'Best Renovated Building' of 2009.
James Travers and Jim Fish of Travers Realty Corp. represented Wells Fargo Trade Capital in the transaction... "This transaction included the simultaneous take-back of the floor from another tenant which had seven years of remaining lease term," said Steven Durels, a top SL Green executive, in a statement. Mr. Durels added that SL Green, the city's largest office landlord, "is delighted to have been able to accommodate Wells' continued growth."
Reprinted From New York Observer
Jotham Sederstrom
February 3, 2011 11:29 a.m.
http://www.observer.com/2011/commercial-observer/wells-fargo-expandingagain-sl-greens-100-park
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TRAVERS REPRESENT THE WEINSTEIN COMPANY RELOCATION AND UPGRADE
Travers Realty is pleased to announce the recent relocation of The Weinstein Company
“TWC” from 5700 Wilshire Boulevard to 9100 Wilshire Boulevard. Jim Travers, Chairman,
successfully negotiated the 14,000 square foot transaction for The Weinstein Company,
one of the world’s most prominent entertainment brands. Travers negotiated the new lease, which included – among other
concessions -- a build-to-suit of a state-of-the-art, highly-designed office space.
The constructions costs exceeded $65 per square foot – entirely paid for by the
landlord. Through their negotiations, Travers reduced The Weinstein
Company’s occupancy costs by approximately 27% and also assisted The Weinstein Company
in negotiations with the City of Beverly Hills, which resulted in additional savings
through gross receipts taxes and other municipal tax breaks and incentives.
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TRAVERS REPRESENTS CONSULATE GENERAL OF IRELAND IN LEASE RESTRUCTURE IN HEART OF
SAN FRANCISCO FINANCIAL DISTRICT
Faced with substantial remaining lease term and desiring to reduce occupancy costs,
the Irish Government retained Travers Realty in order to assist it in restructuring
its West Coast Headquarters lease at 100 Pine Street. After serious and detailed
negotiations in Q1, the Irish Government agreed to a restructured long term commitment
with substantial cost savings. Luke Raimondo and Michelle Rojas of Travers Realty's
Bay Area office represented the Irish Consulate in this transaction.
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GREAT PLACE TO WORK INSTITUTE RELOCATES TO THE SAN FRANCISCO CBD
The Great Place to Work Institute is a San Francisco based consulting firm which
counsels hundreds of corporate entities, professional service firms, and non-profit
institutions on how to create better workplaces. GPWI retained Travers to assist
it in relocating from SOMA to San Francisco's CBD. After a protracted search, negotiation,
and construction phase, GPWI has relocated to a full floor at 222 Kearny Street
in San Francisco's Central Business District. Luke Raimondo and Michelle Rojas of
Travers Realty's Bay Area office represented Great Place to Work Institute in this
transaction.
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BNY MELLON LEASES SPACE AT IRVINE CO.'S CORPORATE PLAZA WEST
The Irvine Company has found a big-name financial tenant to occupy half the space
at the office it is building along Pacific Coast Highway in Newport Center. BNY
Mellon plans to move in October. It will be moving personnel from its existing wealth
management office near John Wayne Airport at the Irvine Co.’s 4695 MacArthur Court.
The bank, whose regional offices are led by David Emmes and David Holst, plans to
add employees following the move. Randall Parker and Mark Gardner from the Newport
Beach office of tenant brokerage Travers Realty Corporation represented BNY Mellon
in the lease.
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ANOTHER LAW FIRM LEASE, THIS TIME FOR METROCENTER
The second-largest law firm in Orange is moving its headquarters to Costa Mesa.
Woodruff, Spradlin and Smart, which does work for a number of Orange County agencies
and city governments, last month signed a 23,000-square foot lease for the top floor
at 555 Anton Blvd. Parker and Steven Card of Travers Realty represented Woodruff
Spradlin in the lease. Greg May and Oliver Fleener of Grubb and Ellis Co.’s Newport
Beach office represented RREEF.
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NORWEGIAN CRUISE LINE SIGNS HEADQUARTERS EXPANSION LEASE IN HINES’ AIRPORT CORPORATE
CENTER IN MIAMI
Norwegian Cruise Line (NCL) has signed a long-term lease renewal and expansion of
its headquarters in Airport Corporate Center (ACC), an 11-building office campus
located in the Airport West/Doral submarket of Miami. NCL now leases a total of
208,737 square feet or approximately 20 percent of the Airport Corporate Center
campus, including all of Building 11 and 65 percent of Building 10. James Travers
and Stewart Niles of Travers Realty represented the tenant in lease negotiations
and Hines Asset Manager Gonzalo Cortabarria represented the property owner, Hines
Real Estate Investment Trust, Inc. (“Hines REIT”).
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