Business Specialties
With 100,000 SF Lease, Architectural Gem in L.A. to be Focus of New Google Campus
The internet search engine giant will have a new campus with a fancy face, courtesy of a 100,000-square-foot office lease agreement with W.P. Carey & Co. L.L.C. — and that face has eyes.
Strategic Hotels Brings in Blackstone to Help Recap San Diego’s Famed Hotel del Coronado
The arrangement, which gives Blackstone a 60 percent ownership stake in the celebrated luxury waterfront hotel, was a timely one, as a loan secured by the property had been scheduled to mature this month.
Langtree, RL West Join Forces on $800M Project
They will be developing the 300-acre Langtree at the Lake planned community in Mooresville, N.C.
Mesa West Closes $47M First Mortgage
The firm supplied institutional real estate firm Savanna with capital for 5 Hanover Square, a 333,000-square-foot Class B office property in Manhattan that is being repositioned.
Energy Upgrade Plan Wins Kudos
The Obama administration has unveiled its energy efficiency proposal. Industry observers especially like provisions that are intended to make it easier for energy upgrades to pencil out.
CoStar Headquarters Commands $101M
In a sale-leaseback deal, an affiliate of GLL Real Estate Partners GmbH bought the 169,000-square-foot property just one year after CoStar acquired it from the Mortgage Bankers Association for $41 million.
L.A. Uses Tax Breaks to Lure Gensler
Even in a recovering office market, it is unusual for a modest-size 45,000-square-foot office lease to command the attention of a big-city mayor and other officials. That was the case in Los Angeles, however, as the mayor and other leaders publicly touted the architectural firm’s decision to relocate to the City of Angels as a vindication of its pro-business policies.
In Rare Big-Block Phoenix Office Lease, Cognizant Takes 130,700 SF
The worst may be over for the struggling Phoenix office market, where vacancy edged up only 10 basis points to 22.9 percent from the first to the fourth quarters last year.
L.A. Complex Fetches Rumored $300M
The sellers, Lincoln Property Co. and ASB Capital Management, have entitlements to build another 750,000 square feet at the master-planned office development.
Easton Lynd Snaps Up $62M of Notes on Distressed Assets
The Miami-based company plans to reposition the properties and decide the next step on a case-by-case basis.