GlobeSt.com - Office

PerkSpot Doubles Presence at West Ohio St. Office Building

John Jordan, staff — Thu, 1 Aug 2019 07:05:00 -0400

The firm has signed a 14,020-lease expansion, increasing its leased space at the property to more than 27,000 square feet. The latest deal marks the customized employee discount firm’s second expansion in 13 months.

Bank of America Tower is First LEED Platinum Core/Shell Project

Lisa Brown, staff — Wed, 31 Jul 2019 22:00:06 -0400

US Green Building Council has recognized Bank of America Tower, Skanska’s downtown office development, as the first LEED v4 Platinum Core and Shell certified project in the United States.

EQ Office Signs Lease Expansion with Non-Profit at 44 Wall St.

Betsy Kim, staff — Wed, 31 Jul 2019 15:00:51 -0400

The Cities for Financial Empowerment Fund’s lease with Blackstone’s real estate funds points to continued diversification in Downtown Manhattan.

Levi’s Plaza Sells in One of the Largest Deals in City History

Lisa Brown, staff — Wed, 31 Jul 2019 13:22:52 -0400

Levi Strauss & Co.’s nine-building headquarters has been sold to Atlanta developer Jamestown by a partnership including developer Gerson Bakar and Associates for likely more than $800 million.

No Word on Google’s Plans for Latest Real Estate Gobble

Lisa Brown, staff — Wed, 31 Jul 2019 12:51:05 -0400

Google’s $1 billion purchase of nine addresses in two separate transactions represents 1.2 million square feet of buildings and land that were once owned by Yahoo! in Moffett Park.

Fujitsu General America to Relocate US HQ to Montville

John Jordan, staff — Wed, 31 Jul 2019 07:44:27 -0400

The international cooling and heating solutions firm will shift its US headquarters from 353 Route 46 West Fairfield, NJ.

Breakers Capital Sells West Palm Office Building to NJ-Based Firm

John Jordan, staff — Wed, 31 Jul 2019 06:22:59 -0400

The IRS will vacate more than 32,000 square feet in the third quarter of this year, which will lower the building’s occupancy to 61.1% and create what Cushman & Wakefield terms as a tremendous value-add opportunity for Capstone.

Cedars-Sinai-Adjacent Office Building Trades in West L.A.

Kelsi Maree Borland, contributor — Wed, 31 Jul 2019 04:00:35 -0400

The 5,100-square-foot office building currently has a mixed tenancy, but the new ownership plans to use the property as medical office.

Upclose With Sands Investment Group’s Andrew Ackerman

Natalie Dolce, staff — Wed, 31 Jul 2019 04:00:31 -0400

The leader in the firm’s Atlanta office tells the next generation to remember that you are never as smart as you think you are when the market is great and you are never as bad as you think you are when the market is terrible.

Large Block Sells in Silicon Valley, Land of Scant Space

Lisa Brown, staff — Wed, 31 Jul 2019 04:00:12 -0400

One of the few remaining headquarters facilities available in Silicon Valley has been acquired by a joint venture between Embarcadero Capital Partners and PCCP at a purchase price of about $70 million.

Office Developers Gear Up for Strong 2022

Kelsi Maree Borland, contributor — Wed, 31 Jul 2019 04:00:11 -0400

While many are expecting a pause in 2020 or 2021, office developers are starting projects today to deliver into what is forecasted to be a strong market in 2022, GlobeSt.com reports EXCLUSIVELY.

Data-Driven Analyses are Key in Operating System Efficiencies

Lisa Brown, staff — Tue, 30 Jul 2019 22:00:34 -0400

Implementing Bractlet's technology at the portfolio-level allows Lionstone to make informed decisions that benefit its investors, conserve energy, and improve tenant comfort and productivity.

Seems Like Amazon … Can’t Quit NY

Betsy Kim, staff — Tue, 30 Jul 2019 16:00:18 -0400

Even after pulling out its HQ2 from Long Island City, the company tells GlobeSt.com nonetheless it has invested more than $4 billion in New York from 2010 to 2018.

Co-Working Sector Fueling Growth in Philadelphia Office Market

John Jordan, staff — Tue, 30 Jul 2019 10:47:01 -0400

The brokerage firm also reports that another lease deal with a co-working firm involving multiple floors of a City Center office building is currently pending.

Ares, Black Mountain Partners Buy London Building

Ingrid Tunberg, staff — Tue, 30 Jul 2019 10:31:25 -0400

The 97,538-square-foot retail and office building at 68 King William Street will undergo renovations before housing new tenants.

Armada Hoffler JV to Develop $80M Project in Atlanta Area

Erika Morphy, staff — Tue, 30 Jul 2019 09:33:01 -0400

The REIT will be the majority partner in a joint venture with S.J. Collins Enterprises to develop Southern Post.

Carr Increases Stake in Boston Office Tower

John Jordan, staff — Tue, 30 Jul 2019 08:49:43 -0400

Washington, DC-based Carr Properties first invested in the project in a 50-50 joint venture in May 2018 with National Real Estate Advisors, LLC.

Supply Meets Demand: Converting Office Space to Multifamily

Steve Smith, staff — Tue, 30 Jul 2019 08:39:29 -0400

Adaptive reuse can optimize the operational and commercial performance of a building by transforming obsolete spaces to serve entirely new purposes.

NY Firm Buys Second Allapattah Office Building in Miami

John Jordan, staff — Tue, 30 Jul 2019 07:37:55 -0400

Edenderry has acquired the six-story, 68,174-square-foot Bank of America office building at 1313 NW 36th St. for $7.7 million.

MedProperties Relocates HQ to Loop Office Tower

John Jordan, staff — Tue, 30 Jul 2019 06:04:17 -0400

The 15-year-old award-winning company shifted its headquarters operations from 40 Skokie Boulevard in Northbrook to the 37th floor of the 48-story 1.765 million square foot office building in Downtown Chicago that is anchored by Goldman Sachs.

Stanford Proximity and Office Cap Equal Plum Position

Lisa Brown, staff — Tue, 30 Jul 2019 04:00:53 -0400

Longfellow Real Estate Partners recently acquired Palo Alto Tech Center from KBS for $205 million and if the development cap is made permanent, it would guarantee almost no new competitive products for the center.

Phoenix Leads US Job Growth in Second Quarter

Kelsi Maree Borland, contributor — Mon, 29 Jul 2019 14:00:21 -0400

The strong job growth is driving the office vacancy rate down even with new office construction deliveries in Phoenix.

King Kong Returns to Empire State Building (SLIDESHOW)

Betsy Kim, staff — Mon, 29 Jul 2019 12:37:10 -0400

Empire State Realty Trust Opens Its New Second Floor Gallery

A REIT's New Amenity: A CSA Program From a Rooftop Farm

Erika Morphy, staff — Mon, 29 Jul 2019 08:28:41 -0400

The office space has been designed by Wingate Hughes Architects.

Brandywine to Build 100,000 SF Office Building in King of Prussia

John Jordan, staff — Mon, 29 Jul 2019 07:23:14 -0400

“King of Prussia is among the most successful regional economic hubs in the nation,” says Jerry Sweeney, president and CEO of Brandywine Realty Trust.

Does Co-Working Space Seem Like a Fishbowl?

Lisa Brown, staff — Mon, 29 Jul 2019 04:06:59 -0400

Breather’s space at 565 Commercial in the Financial District promises to include private space with flexible terms where companies can create individual cultures without the noise and distractions of co-working.

Capital Availability Drives Office Investment Activity

Kelsi Maree Borland, contributor — Mon, 29 Jul 2019 04:00:29 -0400

Office investment has picked up this year thanks in large part to the $200 billion in capital allocated for commercial real estate investment in 2019 alone.

Submarket’s Performance Bodes Well for Bailey Ave. Office

Lisa Brown, staff — Sun, 28 Jul 2019 22:00:33 -0400

West Seventh District/Fort Worth Cultural District submarket has performed well during this economic cycle with vacancy remaining well below the metro average, due in part to its location and accessibility.

Flexible Space Flexing Its Muscle

Betsy Kim, staff — Fri, 26 Jul 2019 17:00:02 -0400

Once thought of as co-working offices, now more often referred to as flexible space, for H1 2019 this sector has reached 8.5% of leasing activity nationwide, according to CBRE’s latest research.

Gov. Baker Proposes $18B Transportation Bond to Fix Roads and Modernize MBTA

John Jordan, staff — Fri, 26 Jul 2019 12:01:17 -0400

The governor’s proposal announced on Thursday would earmark $10.1 billion for MassDOT Highway Division construction projects.

Developers Get Full Go-Ahead for 88 Bluxome

Lisa Brown, staff — Fri, 26 Jul 2019 11:17:54 -0400

The proposed 1.07 million-rentable-square-foot mixed-use development project at 88 Bluxome St. is the first within the Central SoMa Plan to be fully approved and receive its full Prop M allocation.

Harf Named to Lead Stan Johnson’s Chicago Office

John Jordan, staff — Fri, 26 Jul 2019 06:47:50 -0400

Harf joined Stan Johnson Co. of Tulsa, OK in October 2011 and has been focused on the sale of net lease assets, working with some of the nation’s most respected and trusted institutions, private equity managers and merchant developers.

Ten Capital Management Acquires Jacksonville Office Complex

John Jordan, staff — Fri, 26 Jul 2019 06:22:46 -0400

The Cleveland-based privately-held real estate investment management firm, is the new owner of the 417,513-square-foot complex that is currently 87% leased to nine tenants with a weighted average lease term of five to seven years.

Harbor Group Acquires Sunrise Office Building for $33M

John Jordan, staff — Fri, 26 Jul 2019 05:56:14 -0400

Harbor, which is headquartered in Norfolk, VA and has offices in New York City, Baltimore and Israel, closed on the sale on the 100,700-square-foot three story office building on July 25, according to commercial brokerage firm CBRE.

Former Macy’s Site Makes Way for Massive Mixed-Use Project

Kelsi Maree Borland, contributor — Fri, 26 Jul 2019 04:00:33 -0400

NoHo West will feature a 235,000-square-foot creative office building, 300,000 square feet of retail and 600 apartments.

KBS Sells Raleigh NC Office Tower

Ingrid Tunberg, staff — Thu, 25 Jul 2019 18:05:15 -0400

Preferred Office Properties has purchased CAPTRUST Tower, joining previous part-owner, Kane Realty Corporation.

WeWork’s IPO Reportedly Planned for September

Betsy Kim, staff — Thu, 25 Jul 2019 18:00:37 -0400

True believers and detractors are watching the flexible office space provider, following its obtaining a loan facility that would bolster its initial public offering.

‘Serial Entrepreneur’ Joins Colliers Life Sciences Team

John Jordan, staff — Thu, 25 Jul 2019 08:01:48 -0400

Brechner joins Colliers with more than 35 years of experience leading companies with revenues in excess of $10 million. For the past 20 years he led ventures within the analytical laboratory and quality assurance industry.

New York Life Pays $72M for Florida Office Building

John Jordan, staff — Thu, 25 Jul 2019 04:00:44 -0400

KBS of Newport Beach, CA, acquired the 10-story 188,950-square-foot office property in 2015 in a joint venture with a sovereign partner.

BH Properties Increases Its Phoenix Footprint

Kelsi Maree Borland, contributor — Thu, 25 Jul 2019 04:00:01 -0400

The investor sees Phoenix as a strategic long-term investment market, and is looking to expand its portfolio.

Incentives Send a Strong Message to Corporate Office Market

Lisa Brown, staff — Wed, 24 Jul 2019 22:00:33 -0400

Since the adoption of the master plan in 2001, Flower Mound has envisioned corporate office buildings along International Parkway to serve both as an employment center and a boost to the commercial tax base.

Rudin Family Sells One Whitehall for $183M

Betsy Kim, staff — Wed, 24 Jul 2019 17:00:36 -0400

The 21-story Financial District office building was sold reportedly to pay estate taxes for the late Jack Rudin.

Griffin Capital Essential Asset REIT Leases to Fortune 100 Company

Ingrid Tunberg, staff — Wed, 24 Jul 2019 15:04:03 -0400

The 12-year lease will commence in April 2020 upon renovations to the 270,000SF space.

Office Spec Suites Are Becoming a Standard

Kelsi Maree Borland, contributor — Wed, 24 Jul 2019 14:00:11 -0400

KBS is launching a spec suite program as part of the renovation of its Union Bank Plaza in Downtown Los Angeles.

Andover Realty Sells 62 W. 45th St. for $37.25M

Betsy Kim, staff — Wed, 24 Jul 2019 12:53:59 -0400

Renaissance Properties bought the Midtown office building, which ABS Partners has been hired to lease.

CommonGrounds Workplace Signs 62K Lease at 1700 Market

John Jordan, staff — Wed, 24 Jul 2019 08:54:25 -0400

The San Diego-based flexible workplace provider is entering the Philadelphia market and will occupy two floors at the recently renovated 850,000-square-foot office building.

Edgewood Properties Buys Vacant South Plainfield Office Building

John Jordan, staff — Wed, 24 Jul 2019 08:15:13 -0400

1001 Durham Ave. offers an opportunity to upgrade the property to reposition and lease-up as a single-tenant or a multi-tenant office building or be a redeveloped into an industrial facility.

BAC Florida Bank to Relocate HQ to The Plaza in Coral Gables

John Jordan, staff — Wed, 24 Jul 2019 05:46:19 -0400

The bank has signed a long-term lease for 63,000 square feet and will shift its corporate headquarters operations from 169 Miracle Mile to The Plaza at Coral Gables South Tower at 3011 Ponce de Leon Blvd. in 2022.

LaSalle Makes Value-Add Office Play in OC

Kelsi Maree Borland, contributor — Wed, 24 Jul 2019 04:00:14 -0400

LaSalle Investment Management has acquired 4 Hutton Centre through its value-add fund series.

Possibilities are Endless for American Airlines' HQ

Lisa Brown, staff — Tue, 23 Jul 2019 22:00:52 -0400

At 6.33 acres, the former world headquarters for American Airlines and American Airlines Federal Credit Union provides investors with a rare opportunity to redevelop the campus into perhaps a headquarters.