The City of Redondo Beach has contracted with BC Urban to manage the leasing for all 35 acres and several hundred thousand square feet of office, retail, and marina space until the future $250 million commercial waterfront revitalization project is completed. We also provide advisory services for the on-going revitalization project. This assignment includes all of the waterfront holdings; Fisherman's Warf, Pier Plaza, International Boardwalk, and the Redondo Beach Marina.
Montgomery Securities occupied approximately 475,000 square feet in the Transamerica Pyramid and an adjacent office building in downtown San Francisco. Historically, the company had worked with competing teams of brokers from CBRE and Cushman & Wakefield on commercial real estate issues. When Bank of America acquired Montgomery Securities, it hired BC Urban's Brian Campbell to take the lead brokerage and advisory position on commercial real estate matters. Brian successfully integrated the two competing brokerage firms under his leadership. This strengthened Montgomery Securities' negotiating position with the multiple landlords competing for this business and ultimately structured an innovative market-leading $450 million 15-year lease consolidation and renewal.
BC Urban was retained by New York City-based Hearst Corporation, the magazine publisher and co-owner of ESPN Network, to identify and negotiate a new location for their headquarters in the Southeast. We negotiated a 15-year lease of 205,000 square feet in a new 52-story high-rise in downtown Charlotte, with Hearst Corporation as the lead tenant and the tower bearing their name: Hearst Tower. the lease included numerous clauses for built-in flexibility to allow Hearst to grow within the building. This outstanding result for our client was the result of more than four years of diligent effort on our part, which included 21 trips to Charlotte or New York and 4,000 phone or conference calls.
Turner Broadcasting & CNN
AT&T SURPLUS PROPERTY SALE
BC Urban was retained by AT&T to sell a surplus property in Pasadena, CA from their large property portfolio. After the initial marketing of the property for sale, interest was so high that BC Urban converted the selling process to an auction. This nimble conversion from a standard sale process to a fast-moving auction resulted in the ultimate sale of the site for more than 200% of the property's original appraisal value.
We negotiated a 15-year sublease from AT&T for 200,000 square feet at the Town Pavillon building in downtown Kansas City, MO and negotiated an agreement with the City of Kansas City to build a new parking garage, at no cost to the client, and exclusively for the more than 600 Transamerica employees that were relocated from Los Angeles. This major transaction was instrumental in beginning the resurgence of downtown Kansas City's business district. Transamerica's name is on top of the building.
Blue Shield of California
BC Urban, LLC completed a 98,000 square foot complex tenant representative office lease for the national health care provider, Blue Shield. Tremendous flexibility was required to both grow in size and simultaneously maintain space flexibility within the leased space envelope to ensure that it could react promptly to future customer requirements.