Office

The $59.3 million acquisition consists of three Class-A office buildings.

In Chicago, nearly half (47.9%) of that space is pre-leased. New York ranked as the top market, with 14.6 million square feet (21% pre-leased) followed by Washington, D.C. with 10.9 million square feet (61% pre-leased), and Dallas, with 7.8 million square feet (63.9% pre-leased).

In this EXCLUSIVE, Roy Anderson of AEI Consultants discusses the requirements for seismic upgrades in California, and how building owners and managers can ensure properties are in compliance.

"As we continue to make our vision for Schuylkill Yards a reality, a set of guiding principles has remained at the forefront of our design approach: be courageous, creative and bold," says Jerry Sweeney, president and CEO of Brandywine Realty Trust.

The firm strategizes its Charlotte office sector expansion, and plans its exit from the Greensboro and Memphis markets.

Paramount Group Inc. has completed the acquisition of a 44% joint venture interest in 55 Second St., which was valued at approximately $402 million or $1,039 per square foot.

“Amidst international economic uncertainty and an increase in global investor interest in alternative investments, we have seen an uptick in foreign investment firms, particularly those in the Gulf, looking to acquire stabilized Class-A office products in the United States,” says Norman Feinstein, vice chairman of The Hampshire Companies.

Sziklas, who will take on the post on Sept.3 and will be based at LaSalle’s corporate headquarters in Chicago, will lead the team of portfolio managers for LaSalle’s U.S. Custom Accounts clients and will be responsible for actively managing portfolios of office, retail, multifamily and industrial investments located throughout the U.S.