Office
SL Green Adds to NYC Office Portfolio with $252M, 390 KSF Pickup
SL Green has made yet another pickup in Midtown New York City with its $252.5 million acquisition of 10 E. 53rd St. The 390,000-square-foot, 37-story office tower sits between 5th and Madison Avenues in the city’s Plaza District and is currently the headquarters of publishing company Harper Collins.
Colliers: Outside Factors Force Manhattan Office Pause
Describing the larger real estate picture around the United States as “tenuous,” a new report by Colliers International says the supply-and-demand balance of the Manhattan office market will remain virtually unchanged in the first few months of 2012 due to the combined impact of the larger worldwide economic situation.
Nike Plans 600 KSF Move to Tishman’s New Shanghai Campus
Following increased demand for its products in China, Nike has just announced plans to build a 600,000-square-foot corporate campus in Shanghai that will be located in Tishman Speyer’s $2.5 billion The Springs development.
General Services Administration Signs 254 KSF Lease in D.C.
The U.S. Small Business Association is staying put in its digs at the 420,100-square-foot Washington Office Center in Washington, D.C., as the U.S. General Services Administration just entered into a new lease renewal agreement with Vornado/Charles E. Smith for the SBA’s approximately 254,300-square-foot headquarters at the office property.
Hines Takes 255 KSF Minnesota Office Building for $70M
Hines Global REIT has picked up a premier 254,900-square-foot office property in Minneapolis with a $69.5 million sale-leaseback transaction with Cargill Inc.
Vornado Nets $126M in 11 Penn Plaza Refi
Vornado Realty Trust rang out the old year by completing a $330 million refinance for 11 Penn Plaza, a 1.1-million square-foot office building in Manhattan.
Building and Land Technology Picks up 614 KSF Stamford Office Complex
Building and Land Technology, one of the largest property owners in Connecticut’s Fairfield County, has just acquired 695 E. Main St. in Stamford. The new owners will be renaming the 614,000-square-foot office complex the BLT Financial Center.
2012 Forecast: Partly Cloudy With a Chance of Improvement
CPE offers a snapshot of forecasts for the new year, portraying the likely trends that will shape commercial real estate in 2012.
CPE's Top 11 in '11
Taken as a whole, 2011 was something of a tumultuous year, but an interesting time for commercial real estate. CPE presents our top 11 stories from 2011.
Exclusive: 192 KSF El Segundo Triple-Net-Leased Office Sells for $45M
AG Net Lease Fund II, a vehicle of Angelo, Gordon & Co., has picked up a 192,053-square-foot office in the Los Angeles submarket of El Segundo for $45 million from Kilroy Realty Corp.