Office

Office Leasing’s Big Drop

April 2, 2012

Commercial real-estate brokerages on Monday begin releasing their reports on first-quarter office-leasing activity, and the numbers don’t bode well for the firms’ New York profits.

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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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In The Pipeline: CoStar Development & Construction News for March 25 – 31

March 27, 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. Architects Report Higher Billings For 4th Straight Month The Link: In The Pipeline: CoStar Development & Construction News for March 25 – 31 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 21, 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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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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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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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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Vornado Grapples With the Capital

February 29, 2012

Vornado Realty Trust, one of the largest office-building owners in the Washington region, is getting clobbered by the downsizing of the federal government.

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In The Pipeline: CoStar Development & Construction News for Feb. 27 – March 3

February 27, 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. Architecture Billings Point Toward Slow Recovery The Architectu Read the rest here: In The Pipeline: CoStar Development & Construction News for Feb. 27 – March 3 Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Showdown in Stamford for Developer Rosen

February 22, 2012

Developer Aby Rosen, who has been fighting headwinds to shore up his highly leveraged U.S. office buildings, faces a new threat, this one to his firm’s large portfolio in Stamford, Conn.

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Apartment, Office Properties Record Strongest CRE Pricing Recovery In 2011

February 16, 2012

Costar… Powered by continuing gains in apartments and growing momentum in the office sector, the CoStar Commercial Repeat Sale Indices (CCRSI) National Composite Index ended 2011 significantly above its cyclical low last March, despite a relatively flat fourth quarter for pricing. CRE sale prices stalled a bit in December as heavy year-end trading kept pricing stable in the fourth quarter, a trend CoStar has observed in each of the past two years, according… Read more: Apartment, Office Properties Record Strongest CRE Pricing Recovery In 2011 Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Tishman Speyer Taking Over 16 U.S. Office Bldgs.

February 16, 2012

Costar… Tishman Speyer Properties in New York is buying out its affiliated Australian REIT that has ownership in 16 office buildings across the United States in markets including New York, Philadelphia, Washington DC, Chicago, Milwaukee, San Francisco, Los Angeles and Seattle. Sydney, Australia based Tishman Speyer Office Fund owns 99.9% of four office buildings totaling 893,000 square feet and 45.9% ownership in another 12 totaling 7.46 million square… More here: Tishman Speyer Taking Over 16 U.S. Office Bldgs. Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Mission West Hangs ‘For Sale’ Sign

February 15, 2012

The leading office landlord in California’s Silicon Valley, Mission West Properties Inc., is preparing to sell itself to the highest bidder. But the selling price is likely to fall short of the $1.8 billion the company nearly fetched five years ago.

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Flow International Corp Leases 146,000 SF in Kent

February 13, 2012

Costar… Flow International Corporation, an inventor and world leader in waterjet solutions, signed an eight-year lease extension for 146,329 square feet of office and warehouse space at 23500 64th Avenue S. in Kent, WA. Flow International originally signed a lease on January 1, 2003 until December 31, 2012 before agreeing to extend the term of the lease early. This location will now serve as the company’s headquarters until January 31, 2020. The two… Read the original: Flow International Corp Leases 146,000 SF in Kent Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Graphic Packaging Inks 109,556-SF Office Lease

February 8, 2012

Costar… Graphic Packaging International, a packaging manufacturer, leased 109,556 square feet at RiverEdge Summit at 1500 RiverEdge Parkway in Atlanta, GA. The company will initially move its headquarters into 86,525 square feet in the first quarter of next year, but iStar Financial, the owner, will also build a state of the art, 23,000-square-foot product development center that will be attached to 1500 RiverEdge Parkway. The property is a nine… More: Graphic Packaging Inks 109,556-SF Office Lease Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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