Office

News

CBRE Group Reorganizing Operations, Announces Key Promotions

John Jordan | August 17, 2018

The new organizational structure will replace the existing operations that manage CBRE’s services business within its existing geographic businesses—Americas, EMEA and APAC. That structure will remain in effect for the remainder of 2018.

News

MetLife, State Street Strike $2B Commercial Mortgage Deal

John Jordan | August 17, 2018

As part of the deal, State Street affiliates and MetLife affiliates will co-lend each loan.

Detroit Breaks Into Nation's Tech Elite

Brian J. Rogal | August 17, 2018

The CBD has become known as a magnet for top tech talent.

News

Transit Phase Two Includes Trains

Lisa Brown | August 17, 2018

Phase one connects buses from AC Transit and WestCAT to/from the East Bay, and Greyhound and Amtrak Thruway buses with Muni service while phase two would bring in Caltrain and high-speed rail.

News

$100M Romanian Distillery Project in Putman County Secures Key Approval

John Jordan | August 17, 2018

The company states that construction will start immediately after securing the building permit for the project that secured $2.7 million in performance-based tax credits from New York State through the Excelsior Jobs Program.

News

Coworking Slowly Gains Foothold

Lisa Brown | August 16, 2018

While serviced offices have been around for decades, the term coworking has become a buzzword during the last 10 years with very little metro level data available yet to track historically, says NAI Partners.

News

Law Firms Are King at Tishman Speyer’s 125 High St.

John Jordan | August 16, 2018

The largest deal was the relocation of law firm Burns & Levisnon to approximately 100,000 square feet of space at 125 High St.

News

HNA in Talks to Sell 850 Third Ave. to B&L Management

Betsy Kim | August 16, 2018

The financially troubled Chinese conglomerate HNA Group is reportedly trying to sell its interests in the building valued at $452 million.

Commentary

Office Location Advice—What to Consider

George Pino | August 16, 2018

We all know how important it can be to the success of a retail business, but is it as important for an office location?

Thought Leadership

Office Makes the Reverse Commute

Brian Lee | August 16, 2018

West Coast office investors are looking beyond the CBD—and even the city—to reap greater returns.

Marcus Partners Buys Jefferson Building

Erika Morphy | August 16, 2018

The boutique office building is located along “Restaurant Row” in the CBD.

Medical Office Looks Good for Buyers and Sellers

Brian J. Rogal | August 16, 2018

Public REITs have, temporarily at least, pulled back from the medical office sector, but sellers have not suffered.

News

Transit Construction Stats are Staggering

Lisa Brown | August 16, 2018

More than 640,000 cubic yards were excavated and 92,000 cubic yards of concrete were recycled from the old terminal, enough to fill 28 Olympic-size swimming pools, according to the JV construction team.

News

Owner of Delaware Funds Relocates Philadelphia HQ to Independence Mall

Steve Lubetkin | August 16, 2018

Keystone acquired the nine-story, approximately 400,000-square-foot class A office building in 2013, and has spent $25 million to redevelop the property.

Bay Area Companies Fuel Seattle's Growth

Lisa Brown | August 16, 2018

With a rate of 63.1%, Seattle has the most educated workforce in North America of residents older than 25 holding a bachelor’s degree or higher and ranks second for tech talent only behind the Bay Area.

Why We Should Reuse and Recycle Our Buildings

Kelsi Maree Borland | August 16, 2018

Adaptive reuse has a proven track record and has been integral in Los Angeles’ resurgence and transformation over the past decade.

News

PTC Therapeutics Extends 90K SF Lease in South Plainfield

Steve Lubetkin | August 16, 2018

PTC Therapeutics specializes in genetic research focused on discovering and developing novel oral treatments for patients with serious and life-limiting disorders.

SoCal Falls Short on Sustainability

Kelsi Maree Borland | August 16, 2018

Major West Coast markets top the list for the nation’s most sustainably powered cities, but Los Angeles and San Diego don’t even make the top 10.

WeWork Leases 258,344 SF at 21 Penn Plaza

Betsy Kim | August 16, 2018

In addition to signing a 70,000 square-foot lease in the Plaza District, this week the collaborative workspace provider rented expansive space from TH Real Estate on the Far West Side.

WeWork Leases Seven Floors at 880 Third Ave.

Betsy Kim | August 15, 2018

The co-working company provides insights to GlobeSt.com on why it chose this location.

News

NYC Launches Soundview Ferry Service Route; Lower East Side Route to Debut Aug. 29

John Jordan | August 15, 2018

The new ferry route begins in the Soundview section of the Bronx and makes stops at the new East 90th Street landing, East 34th Street landing and ends at Pier 11/Wall Street.

News

Industrious Doubles Presence in Chicago with Assemble Deal

John Jordan | August 15, 2018

Industrious currently operates three offices in Chicago in Evanston, Fulton Market and River North.

News

Inland Private Capital Sells Medical Office Buildings in Illinois, Massachusetts

John Jordan | August 15, 2018

The company states the sale resulted in a total return to the investors of 142.10% (calculated based on the aggregate amount of original capital invested in the property).

News

Rittenhouse Realty Closes Two Deals in Allentown

John Jordan | August 15, 2018

The real estate advisory firm states the portfolio was 100% occupied at the time of the sale and traded for a total value of $2.755 million.

News

Lever Energy Capital, Crescent Launch $500M Sustainable RE Fund

John Jordan | August 15, 2018

Company officials say the $500-million fund is one of the largest in the nation, and the only one of its kind in the state of Colorado.

News

WeWork in CMBS is a Hot Investor Topic

Lisa Brown | August 15, 2018

WeWork has emerged as the clear front runner in coworking and is also a top tenant in some of the largest loans securitized in CMBS deals, according to Kroll Bond Rating Agency.

Today’s ‘Young Millennials’ Are a New Breed

Kelsi Maree Borland | August 15, 2018

Millennials graduating from college today grew up in a different era, post Great Recession.

Count on Strong Second Act in San Diego Office

Kelsi Maree Borland | August 15, 2018

Office absorption fell short of expectations in 1H18, but researchers say the second half of the year is the workhorse of the San Diego market.

News

Transit Center Ticks All Boxes for a Public Space

Lisa Brown | August 15, 2018

Pelli Clarke Pelli Architects’ architectural design for Salesforce Transit Center illustrates how a dense urban transit-based development can be a cornerstone for a sustainable and livable city.

Q&A

What's Happening in Atlanta: Mark Vollbrecht, Principal of Zeller Realty Group

Steve Lubetkin | August 15, 2018

As the line between work and play continues to blur, it’s becoming even more important to provide opportunities to connect with other tenants and the surrounding neighborhood, says Zeller Realty's Mark Vollbrecht.

News

Global Net Lease Spends $75M for Properties in Texas, Ohio

John Jordan | August 14, 2018

The latest purchase deals bring the REIT’s acquisitions so far this year to $236.4 million.

News Research

Stringer Says City Should Take Advantage of Strong Economy

John Jordan | August 14, 2018

Fewer than half of new private-sector jobs created in the second quarter were in lower-wage industries, as high-wage industries added 6,000 new jobs—the biggest gain in that sector in the last two years.

News

Dalan Recaps Valuation, Marcus Acquires Interest in NoMad Property

Betsy Kim | August 14, 2018

The real estate firms’ joint venture purchased 10-12 E. 33rd. St. for $54.5 million.

Q&A

Tenancy In Common Versus Delaware Statutory Trust

Natalie Dolce | August 14, 2018

Karlin Conklin, Executive Vice President of Investors Management Group, Inc., shares advice for choosing between a Tenancy In Common (TIC) versus a Delaware Statutory Trust (DST) in the structure of a real estate investment.

Analysis

Downtown Vacancy Moves Up In 2Q

Brian J. Rogal | August 14, 2018

Three trends are driving the Chicago office market: continued relocations to the CBD from the suburbs, the rapid growth of co-working and the emergence of former fringe locations.

Don’t Fret Over Central OC Office Performance

Kelsi Maree Borland | August 14, 2018

The Central Orange County office market has had anemic start to the year, losing two large tenants to the Airport Area, but vacancy and rental rates remain strong.

Event Coverage News

Park is the Top Icing Layer of Transit Center

Lisa Brown | August 14, 2018

The park will be a significant teaching tool with extensive labeling of the more than 600 trees and plants within 12 smaller gardens keyed to a variety of plant life and environmental conditions.

The One Thing Office Tenants Want

Kelsi Maree Borland | August 14, 2018

Put back the ping-pong table. Internet with a quality connection is the number one amenity that office users are demanding today.

News

Tech and Med Tenants Flock to South Lake Union

Lisa Brown | August 14, 2018

The value of a multi-tenant office asset, $58.75 million, created significant bidding depth and a lease for the remaining vacancy was negotiated with WeWork during the marketing process, bringing the tenancy to 100%.

News

Austin Has More Tech Jobs Than Tech Grads

Lisa Brown | August 13, 2018

Austin moved up two spots to number six on CBRE’s Tech Talent Scorecard, part of its Tech Talent Report, which ranks 50 US and Canadian markets according to the ability to attract and grow tech talent.

News

Lee & Associates NYC Launches New Residential Division

Betsy Kim | August 13, 2018

The residential division will extend the firm’s commercial advisory services largely recognized for office and retail leasing.

Commentary

Four Reasons CRE Investors Should Consider Salt Lake City

Rich Sarkis | August 13, 2018

In recent years, Salt Lake City has become a prime location to both run a business and invest in commercial real estate.

Boston Properties May Have Buyer for CBD Office

Erika Morphy | August 13, 2018

A source tells us the 321,000-square foot building is trading at $140 million or $436 per square foot.

Co-Working Heads To The Local Mall

Erika Morphy | August 13, 2018

Co-working space in retail properties will grow at a rate of 25% annually through 2023 reaching approximately 3.4 million square feet.

News

TownPark Commons Trades for $73M in Kennesaw, GA

Steve Lubetkin | August 13, 2018

The property features an attractive four spaces per 1,000 square feet parking ratio, a remodeled conference and training facility, a modernized deli, and a state-of-the-art fitness center.

Co-Working Rebrand Focuses on Tech/Energy

Lisa Brown | August 13, 2018

The newly christened McClellan Innovation Center, an 8,000-square-foot office, can accommodate up to 100 guests per day with flexible temporary or long-term desk leasing for individuals and companies.

News

Terminal Stores' $900M Sale: A Perfect Storm

Betsy Kim | August 13, 2018

The director of research, New York at JLL, says L&L and Normandy’s acquisition reflects the insatiable demand for this type of product in Midtown South.

Commentary

The Best Lender for Your Deal is Rarely the Cheapest

Michael Klein | August 10, 2018

Many borrowers think money, is money, a loan is a loan and quite frankly, that is correct most of the time.

First-Time Buyers Gravitate To Tampa

David Wilkening | August 10, 2018

The city's population and job growth are among the fastest in nation.

Investors Show Renewed Interest in Suburban Office

Kelsi Maree Borland | August 10, 2018

The tax cuts and a healthy local economy have renewed investor interest in suburban office product.