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Office

Brick & Mortar Decisions No Longer Just About Dollars & Cents at H-P

March 29, 2012

Costar… With new CEO and ‘CIO’ officers at the helm, Hewlett Packard (HP) is realigning its organizational structure – a portion of which has it taking global real estate decision-making away from its financial managers and putting it into the hands of its techies. The move likely means that the real estate consolidation the company said was largely completed last year may not be over. HP’s global real estate footprint encompassed nearly 70 million… Go here to see the original: Brick & Mortar Decisions No Longer Just About Dollars & Cents at H-P Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Goodrich Corp Inks 105,000-SF Office Lease

March 28, 2012

Costar… Goodrich Corporation, a supplier of aerospace and defense products, signed a 104,662-square-foot lease at 2727 E. Imperial Hwy. in Brea, CA. The company is relocating and consolidating its two facilities in Monterey Park and Diamond Bar. The 104,662-square-foot office property is situated on 5.4 acres within the Brea Imperial Center in Orange County. With the addition of Goodrich, the center is now 100 percent occupied. Liz Hurley with Transwestern… View post: Goodrich Corp Inks 105,000-SF Office Lease Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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BOMA 360 Grows to 420

March 26, 2012

Costar… A total of 420 buildings in 55 markets have now received the coveted BOMA 360 designation, which recognizes commercial properties for excellence in overall building operations and management. BOMA International went on to name the top five companies, each with 20 or more commercial buildings across the country to have reached BOMA 360 status:CBRE – 59 buildingsBrookfield Properties – 31 buildingsPiedmont Office Realty Trust – 24 buildingsParmenter… Read more here: BOMA 360 Grows to 420 Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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CoStar’s People of Note (March 18-24)

March 23, 2012

Costar… This week’s People of Note includes the following markets: Charlotte, Chicago, Dallas/Fort Worth, New York City, Retail, San Francisco and South Florida. DALLAS/FORT WORTH Local Investment Sales Broker Moves to Cushman & Wakefield By CoStar Research Scot Farber joined Cushman & Wakefield in Dallas where he will focus on the sale of office and industrial properties as part of the firm’s investment sales group. Farber, Read more from the original source: CoStar’s People of Note (March 18-24) Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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GSA Buys Columbia Plaza Office Bldg. for $99.6M

March 21, 2012

Costar… The U.S. General Services Administration acquired the 511,500-square-foot Columbia Plaza Office Building in Washington, DC, from a partnership between Normandy Real Estate Partners and Westbrook Partners. The property traded for $99.59 million or $195 per square foot. The 15-story structure at 2401 E. St. NW was built in 1974 and renovated in 1999. The U.S. Department of State’s Diplomacy in Action agency has occupied the building since 1992 under… Read the rest here: GSA Buys Columbia Plaza Office Bldg. for $99.6M Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Baker Donelson Bldg in Downtown Nashville Sells for $47.1M

March 21, 2012

Costar… Sun Life Financial Services, an international financial services company, has acquired the 11-story Baker Donelson Building at 211 Commerce Ctr. in downtown Nashville, TN from The Mathews Company in a transaction totaling $47.13 million, or approximately $205 per square foot. The property was constructed in 2000 and totals 229,536 square feet of Class A office space . The building was 93.8 percent occupied at the time of the sale, and is currently… Read the original: Baker Donelson Bldg in Downtown Nashville Sells for $47.1M Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Tech Firms Go Far and Wide for Space

March 20, 2012

The one bright spot in an office-space market that has been slogging back from the downturn has been technology-industry expansion. And it isn’t happening just in Silicon Valley.

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In The Pipeline: CoStar Development & Construction News for March 18 – 24

March 20, 2012

Costar… In The Pipeline is a column on significant acquisitions of commercial land for sale , and other transactions and trends affecting office, industrial, flex, multifamily, mixed-use, hotel and public works developers. Send us news leads about your new commercial real estate project — and sign up to be added to our distribution list to receive future In the Pipeline columns by e-mail. Developer Breaks Ground on Mixed-Use in South Florida Stiles… Read the original post: In The Pipeline: CoStar Development & Construction News for March 18 – 24 Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Plenty of Recession Damage Still Left To Undo

March 15, 2012

Costar… The commercial real estate rubble still left over from the Great Recession continues to exact a punishing toll on property values and owners’ and lenders’ books. In this statistical state analysis, CoStar Group has identified 168,580 office, flex, industrial and retail properties in its national property database with a vacancy rate of 60% or more. The number of properties by type at this level of vacancy distress is as follows: Retail: 67,525… Go here to see the original: Plenty of Recession Damage Still Left To Undo Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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PG&E’s Inks 250,000-SF Office Lease in San Ramon

March 14, 2012

Costar… Pacific Gas and Electric plans to move the majority of its gas operations to Bishop Ranch, a 585-acre business community in San Ramon, CA. The utility supplier finalized a 10-year lease for 250,000 square feet of office space at 6121 Bollinger Canyon Road. Built in 2003, Building Z is a five-story, 250,000-square-foot office building in in the East Bay/Oakland market. Sunset Development Co. owns the LEED Gold certified property. Bishop Ranch… Read more here: PG&E’s Inks 250,000-SF Office Lease in San Ramon Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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A Tale of Two Buildings: Gamemaker Zynga’s $228M Purchase Underscores Growth Spurt of Social Networking Cos.

March 8, 2012

Costar… One week after Web-based software maker Salesforce.com cancelled its plans to build a massive office complex in San Francisco leaving investors and city officials puzzled, another highly successful Internet company, Zynga Inc., struck a deal to purchase its corporate headquarters in San Francisco from an affiliate of TMG Partners for $228 million. The developer of popular online games such as Farmville, CityVille and Words With Friends, Zynga… See original here: A Tale of Two Buildings: Gamemaker Zynga’s $228M Purchase Underscores Growth Spurt of Social Networking Cos. Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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A Tale of Two Buildings: Gamemaker Zynga’s $228M Purchase Underscores Growth Spurt of Social Networking Cos.

March 8, 2012

Costar… One week after Web-based software maker Salesforce.com cancelled its plans to build a massive office complex in San Francisco leaving investors and city officials puzzled, another highly successful Internet company, Zynga Inc., struck a deal to purchase its corporate headquarters in San Francisco from an affiliate of TMG Partners for $228 million. The developer of popular online games such as Farmville, CityVille and Words With Friends, Zynga… See original here: A Tale of Two Buildings: Gamemaker Zynga’s $228M Purchase Underscores Growth Spurt of Social Networking Cos. Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Defensive Leasing Strategy Helps Aussie REIT Dodge First Refi Bullet

March 7, 2012

Costar… With an $87.6 million loan coming due this August, Sydney, Australia-based Real Estate Capital Partners USA Property Trust may have dodged a refinancing bullet on a two-building complex in Bedford, MA, but may still take a hit on a separate office campus in Parsippany, NJ. Real Estate Capital Partners USA signed RSA Security to a 328,232-square-foot, 12-year lease renewal in the two buildings at 174 and 176 Middlesex Turnpike (Bldgs 3 and 4) in… Here is the original post: Defensive Leasing Strategy Helps Aussie REIT Dodge First Refi Bullet Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Defensive Leasing Strategy Helps Aussie REIT Dodge First Refi Bullet

March 7, 2012

Costar… With an $87.6 million loan coming due this August, Sydney, Australia-based Real Estate Capital Partners USA Property Trust may have dodged a refinancing bullet on a two-building complex in Bedford, MA, but may still take a hit on a separate office campus in Parsippany, NJ. Real Estate Capital Partners USA signed RSA Security to a 328,232-square-foot, 12-year lease renewal in the two buildings at 174 and 176 Middlesex Turnpike (Bldgs 3 and 4) in… Here is the original post: Defensive Leasing Strategy Helps Aussie REIT Dodge First Refi Bullet Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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London Calls for Boston Properties

March 6, 2012

The office landlord is in negotiations to buy Drapers Gardens, a trophy office building in London’s financial district for $452.2 million.

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In The Pipeline: CoStar Development & Construction News for March 4 – 11

March 6, 2012

Costar… In The Pipeline is a column on significant acquisitions of commercial land for sale , and other transactions and trends affecting office, industrial, flex, multifamily, mixed-use, hotel and public works developers. Send us news leads about your new commercial real estate project — and sign up to be added to our distribution list to receive future In the Pipeline columns by e-mail. Old Wholey’s ‘Fish’ Building Slated For Conversion to Office… Follow this link: In The Pipeline: CoStar Development & Construction News for March 4 – 11 Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Investment Technology Group Leases 132,000 SF in NYC

March 2, 2012

Costar… Investment Technology Group (NYSE:ITG), an independent agency research broker that partners with asset managers globally, signed a new lease for 132,092 square feet in the office building at One Liberty Plaza in New York City. The company will be relocating from 380 Madison Ave., where they currently lease about 101,000 square feet. The expected commencement date for the new lease will be on or around May 1, 2012. Subject to terms and conditions… Go here to read the rest: Investment Technology Group Leases 132,000 SF in NYC Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Investment Technology Group Leases 132,000 SF in NYC

March 2, 2012

Costar… Investment Technology Group (NYSE:ITG), an independent agency research broker that partners with asset managers globally, signed a new lease for 132,092 square feet in the office building at One Liberty Plaza in New York City. The company will be relocating from 380 Madison Ave., where they currently lease about 101,000 square feet. The expected commencement date for the new lease will be on or around May 1, 2012. Subject to terms and conditions… Go here to read the rest: Investment Technology Group Leases 132,000 SF in NYC Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Macys.com Leases 242,573 SF in San Francisco

March 1, 2012

Costar… Macys.com, the e-commerce business for mega retailer Macy’s Inc., leased 242,573 square feet at the 14-story mid-rise at 680 Folsom St. in San Francisco. The online operation will occupy seven floors of the 476,000-square-foot, Class A office building in the South of Market district. The 15-year lease term has a January 2014 move-in date. The technology division will relocate from several local properties including 685 Market St., a 219,831-square… Continue reading here: Macys.com Leases 242,573 SF in San Francisco Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Federal Reserve Bank of NY Acquires Downtown Office for $207.5M

February 29, 2012

Costar… The Federal Reserve Bank of New York has acquired its approximately 560,000-square-foot, Downtown Manhattan office building at 33 Maiden Ln. for $207.5 million, or about $371 per square foot, from Merit US Real Estate Fund III, a closed-end German fund managed by Invesco Real Estate in cooperation with Hannover Leasing. The Federal Reserve Bank, a major tenant occupying 75 percent of the building prior to sale, exercised an existing option to purchase… View original post here: Federal Reserve Bank of NY Acquires Downtown Office for $207.5M Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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