The property is owned and managed by Hines REIT. A source close to the deal could not disclose taking rents, but they did tell GlobeSt.com that average asking rent is $27 per rentable sf excluding utilities.
The new 10-year transaction provides World Alliance with additional office space to accommodate its meteoric growth, CBRE explains in a prepared statement. The company is currently ranked as one of the top three Reverse Mortgage providers in the US. One of the main factors in the firm's decision to renew and expand within the property was its back-up power capabilities. In addition to being served by dual energy grids the entire building can be operated by generator in the event of a power outage.
"Hines is pleased that World Alliance Financial Corp. and the KBC family have chosen to expand and make a long-term commitment at 3HQ," notes Hines VP, Bart Swenson. "We are currently engaged in an extensive capital improvement program for 3HQ, with improvements to the mechanical and electrical systems, as well as building operations. We are committed to providing a superior tenant experience."
The building offers 24/7 concierge services, a 160-seat full-service café, parking and full-time on-site management. The center core design of the building allows for a maximum amount of light, size and design flexibility. The building's tenant roster includes several other high profile companies, including Empire/Blue Cross Blue Shield, Cigna, Cendant, Cygnus Business Media, St. Paul Travelers and Sovereign Bank.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
