Business Specialties
Top 10 Office Completions in Los Angeles
Inventory is expected to grow by 2 million square feet by the end of 2018, with significant additions in the CBD, Hollywood and Jefferson Corridor submarkets.
Google Unveils $1 Billion Manhattan Campus
The tech giant announced it will occupy 1.7 million square feet at three locations in the Hudson Square neighborhood to create Google Hudson Square.
Cleveland Office Tower Receives $100M Refi
Located in the waterfront district of the city, the 23-story Ernst & Young Office Tower features 465,000 square feet of leasable space.
Bedrock Breaks Ground on $820M Detroit Mixed-Use
The 1.4 million-square-foot downtown development is the latest milestone in the rebirth of the city, which emerged from bankruptcy in December 2014.
Clarion Partners Acquires $282M NYC High-Rise
The Midtown Manhattan office building recently underwent $30 million in capital improvements. Newmark Knight Frank represented the seller, Blackstone’s EQ Office affiliate.
Times Square Tower Reaches Full Capitalization
UBS led a new round of equity financing to achieve $2.5 billion for the groundbreaking of TSX Broadway in Midtown Manhattan.
Lease Term Key for Net-Leased, Bank-Occupied Assets
Such properties, if well-located and occupied by a credit tenant, remain attractive to investors even at this point of the cycle, Avison Young reports.
U.S. Bank Sells NoVa Office Property
The bank sold the approximately 67,000-square-foot Class B building for $10 million, having taken control of the asset through a foreclosure in mid-2017.
Savanna Buys, Repositions Manhattan Asset
The 126,256-square-foot office property will undergo a $21 million capital improvement program that will include upgrades to the lobby, roof, facade and seventh-floor vacant space.
Boston Trophy Tower Commands $455M
Skanska’s 450,000-square-foot, LEED Platinum-certified asset opened in June. The office portion is fully leased to Alexion Pharmaceuticals and PTC.