Corporate Real Estate
Cushman: NYC ‘A Hot Leasing Market’
In its third-quarter overview, Cushman & Wakefield painted a scene of a picturesque New York City leasing market.
WTC’s 1 MSF Condé Nast Lease to Lead Downtown’s Return to Glory
New York City’s office market has been in the slow-but-sure post-recession rebound mode for the last several months but the long-awaited announcement has created such a buzz that industry experts believe it will kick the recovery of Manhattan, and downtown in particular, into high gear.
Pillar Buys Former Nortel HQ
The $43.1 million transaction represents Pillar’s crack at capitalizing on the rebirth of the Dallas-area tech market.
PNC Plans Green HQ in Pittsburgh
The firm has unveiled plans to build a skyscraper in downtown Pittsburgh to serve as its new headquarters, stressing the green aspects it plans to include in the building and going so far as to call it “the world’s greenest skyscraper.”
Disney, Subway Expanding
Retail hasn’t exactly fully rebounded, but proving industry chatter correct, some chains have formally announced major expansion programs. Disney Store and Subway sandwich shops, riding the wave of a successful 2010, have made such commitments.
Logitech Inks 263,500-SF Lease
The firm, which works in Internet communications, digital music, home entertainment and wireless devices, will occupy the Pacific Research Center in Newark, Calif., through at least February 2023.
Panasonic to Move to Newark
The electronic products provider will occupy 250,000 square feet at the new tower at an initial estimated cost of $44 per square foot under a 15-year lease agreement.
Industrial Firm NFI Inks Massachusetts Lease
The supply chain solutions firm took 135,000 square feet at the Devans Industrial Park.
Piedmont Sells N.J. Office Building
Piedmont had owned the 410,000-square-foot 111 Sylvan Ave., which sits in Bergen County just off Palisades Interstate Parkway and near Interstate 95 in Englewood Cliffs, since acquiring it in 2003 under the company’s previous incarnation, Wells Real Estate Investment Trust Inc., for approximately $70.5 million.
Land Use Approval Paves Way for 5 MSF Industrial Park in Florida’s Nassau County
Development of the industrial complex is still in the formative stages, but with land use approval in hand, TerraPointe is moving on to the next order of business. The company will develop a marketing plan and initiate talks with site selection consultants.