J.R. Militello/CORFAC completes 35,767 s/f lease and expansion

J.R. Militello Realty Inc./CORFAC International has completed negotiations on a 35,767 s/f and long-term lease at One HSBC Center for the Consulate General of Canada. After an extensive two-year investigation of the city's market, the Canadian government made the decision to remain at One HSBC Center. Carey Anderson, SIOR and associate broker, Jim Militello, SIOR and principal broker, and Jerry Workman, a partner in the firm, were the only brokers involved and represented the Canadian government in the negotiations with Seneca One Realty LLC, the landlord. "The Consulate General of Canada was clearly the most sought after tenant prospect in our market place in years. We were honored to have been selected to represent their interests here in the U.S.," said Anderson. "The Canadian Government's process called for a detailed analysis of market options against certain unique criteria and we were pleased that the downtown market offered a number of viable alternatives to meet their requirements," said Anderson. In addition to lease renewal, the Consulate also expanded its office space by nearly 50%. The Consulate General of Canada has conducted the business of Canada from One HSBC Center for over 30 years and it has become one of their government's four largest visa processing centers in the world. As a border city, the office is an important Canadian diplomatic mission and is recognized as an integral part of the community. One HSBC Center, with 1.2 million s/f of class A office space, is one of the most prestigious addresses in the downtown area. CORFAC International is one of the largest commercial real estate services organizations in the world and celebrates its 20th year this year. U.S.-based CORFAC is comprised of privately held entrepreneurial firms serving more than 150 markets in the Americas and internationally through alliances with U.K.-based King Sturge and Panama-based Latin American Corporate Property Services. In recent years, CORFAC firms completed over 9,000 commercial real estate transactions annually, encompassing more than 300 million s/f and valued each year in excess of $30 billion. For more information on CORFAC visit www.corfac.com.