San Diego

Jones Lang LaSalle brokers Scot Ginsburg and Brian Cooper successfully negotiated a lease renewal on behalf of the J. Craig Venter Institute, a not-for-profit leading research institute dedicated to genomics research, for approximately 33,000 square feet of space in the Torrey Pines sub-market of San Diego. Through the lease renewal, which affords J. Craig Venter Institute nearly three more years at 10355 Science Center Dr., JCVI was able to gain greater flexibility and increase cost effectiveness for accommodating growth. The lease renewal value is 12% below the previous rate. The property is owned by HCP Inc.

Santa Monica

3310 Exposition Blvd.

Adconion Media Group has relocated its US headquarters to 40,000 square feet of office space in Lantana South at 3301 Exposition Blvd. after outgrowing its 15,000-square-foot office on Santa Monica’s Third Street Promenade. Company officials say the move reflects an aggressive company growth planned for 2011. As more and more technology companies head south, Southern California and in particular Santa Monica, is fast becoming tech-central. Santa Monica has become nicknamed the “Silicon Beach.” Jeremy Daw, Adconion’s chief technology officer, comments: “We are growing despite the protracted recession, and this requires a space that could accommodate our current—and anticipated future—expansion as well as complementing our creative culture.” Adconion will occupy the entire first floor of the three-story building at 3301 Exposition Blvd., which was built in 2008 and is LEED Gold certified. Studley represented Adconion in the headquarters relocation. Robert A. Cavaiola Jr. brokered the transaction and was assisted by project manager Laura Whelan. The 3301 Exposition building is owned by the Lionstone Group, which was represented by Jim Jacobsen and Scott Rigsby of Industry Partners.

Las Vegas

Colliers International-Las Vegas has added a new brokerage team that specializes in multifamily investment sales. Mike Mixer, managing partner of Colliers-Las Vegas, says that Colliers is enhancing, and as a result rounding out, its services to cover this aspect of the commercial real estate industry in response to the increase of multi-family investors in Southern Nevada. The multifamily investment division will be led by vice presidents Gary Banner and Garry Cuff. “With the addition of this team to the firm, Colliers International Las Vegas now offers a complete range of services for every property type,” says Mixer. “We predict that with their talent and drive, the division members will provide their clients with the same exceptional service offered by all of our divisions.”

Hawaii

A Hyatt Hotels Corp. affiliate has signed a franchise agreement with the Chartres Lodging Group LLC, for a Hyatt Place hotel in Waikiki, HI. Under the agreement, the hotel, which is currently operating under the name Ocean Resort Hotel Waikiki, will undergo an extensive renovation and will be re-branded in the fall of 2011 as the 425-room Hyatt Place Waikiki. Over the next 18 months, the Ocean Resort Hotel Waikiki will undergo an extensive renovation, including a complete redesign of the lobby, guestrooms and public spaces. During the renovation, guest rooms, located in the hotel’s 14-story and 19-story towers, will be reconfigured under Hyatt brand standards.

Seattle

Skanska USA’s Commercial Development unit has established its fourth US presence in Seattle. To lead its development presence in the market, Skanska has hired Lisa Picard as EVP and regional manager and Murphy McCullough as its director of development. “Because we have no need for debt financing, our development and investment platform allows us to be patient, as well as selective in terms of our focus on properties that are sustainable or have green potential,” says Picard. “Skanska’s development and investment platform is incredibly unique, and we intend to execute an aggressive and slightly more contrarian strategy.”

Inland Empire

Newport Beach, CA-based Turner Development Corp. adds two new medical practices, Riverside Family Physicians and Arrowhead Orthopaedics, to its Medical Park at Riverwalk project in Riverside, CA. “These two best in class physician groups will make wonderful additions to our medical park,” explains Mike Kendall, vice president of Turner Development. The Medical Park at Riverwalk is part of Turner Riverwalk, a one-million-square-foot master planned business park. The 94,000 square-foot Medical Park is a full-service medical campus complete with its own pharmacy, the Riverwalk Health Mart Pharmacy. With the two new tenants, the Medical Park at Riverwalk is now 54% leased or sold.