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SSA’s New Build-to-Suit Deal Marks Baltimore’s Largest-Ever Office Lease
A bevy of officials from the city level to the federal government came together to announce publicly the U.S. General Services Administration’s selection of the JBG Companies to develop a $150 million build-to-suit office facility for the Social Security Administration.
Economy Watch: Home Starts Eke Out Gain in September
It isn’t a spike or a jump or a surge, but U.S. starts did increase in September by 0.3 percent compared with August, according to the United States Census Bureau. That overall rate was driven by a more sizable 4.4 percent increase in single-family properties, with the more volatile multifamily sector dropping 9.7 percent from August.
Investcorp Closes $410M Sale of Premier Seattle-Area Microsoft Office Towers
Acting through its real estate group, Investcorp has made a few significant plays this year, and now the company and has just completed the disposition of the 750,000 square-foot Bravern Office Commons in Bellevue, Washington, in a transaction with a client acting under the advisement of Principal Global Investors.
Smart & Final Takes 350,000 SF in Southern California
The Commerce, California-based food retail chain inked a 92-month agreement valued at $11.5 million.
Liberty Mutual Breaks Ground on Highly Anticipated $300M Office Building in Boston
The global headquarters expansion project will encompass 390,000 square feet and result in approximately 1,100 temporary and full-time positions.
Economy Watch: NAHB Says Homebuilders Slightly Less Glum
The National Association of Home Builders said on Monday that the NAHB/Wells Fargo Housing Market Index (HMI) for October rose from 13 to 16–dismal to fairly bad, in terms that the organization did not use. It was, however, the first improvement in the index in five months, returning to its June 2010 level.
Lowe Wraps Up $188.5M First Phase of San Diego County Office Project Under Budget
The new operations center is sprouting up at the site of the original center, which, as the county determined after doing a little research in 2005, would cost in excess of $216 million to maintain over a 20-year period.
Economy Watch: Most Retailers Enjoy a Surprise September Uptick
According to the U.S. Census Bureau, retail sales saw an unexpected increase in September. The bureau’s monthly report, released on Friday, noted that retail and food services sales totaled $367.7 billion, an increase of 0.6 percent from August, and a meaty 7.3 percent more than the same month in 2009.
Ratkovich Grabs 28-Acre Former Howard Hughes Property in Los Angeles
In a joint venture with Penwood Real Estate Investment Management, Ratkovich shelled out $32.4 million for the land, which is presently home to 537,000 square feet in 11 historic structures, one of which served as the hangar where billionaire aviator and movie producer Howard Hughes developed the renowned Spruce Goose.
EnerVest Takes Space in Houston
The oil and gas firm has expanded its Houston headquarters by 36,721 square feet while renewing its headquarters lease for a total of 117,316 square feet in downtown’s First City Tower at 1001 Fannin.