Office

Commercial landlords swept up in coworking and open office trends have not lost sight on the importance of physical office space in accommodating the Millennial and Gen-Z consumer.

Bay Area firms, Shorenstein Properties and Simpson Manufacturing Co. Inc., are examples of companies that are doing good and finding those initiatives contribute to the bottom line in the process.

Traffic in Los Angeles is a very real factor in corporate decision-making, fueling growth in new submarkets.

After a long negotiation, both parties reached a successful agreement, allowing AACOG the ability to be flexible in accommodating its and client needs, and resulting a good addition to the tenant mix.

The sale of the 191,000-square-foot, 1899 Pennsylvania Avenue is expected to close in the fourth quarter of this year.

Jay Hennick, Global chairman and CEO of Colliers International, says, "The transaction establishes us as a major player in the engineering design and consulting sector in the U.S., providing us with another important engine for growth."

The companies say they will add value through a leasing strategy, building enhancements and the future ground-up medical office component.

JLL Capital Markets marketed the property and represented an institutional client in the sale of the 166,979-square-foot complex.