Office
Shell Re-Ups, Signs "Largest Lease Transaction in the World" in Houston
In what Hines is calling the “largest lease transaction in the world in 2011,” the firm’s Houston office has re-signed Shell Oil Co. for a 1.2 million-square-foot lease.
SL Green Spends $80M, Now Owns Entire Block in Midtown
The latest Midtown pickup the approximately $80 million purchase of 51 E. 42nd St., an 18-story, 142,000-square-foot office building that faces Grand Central Terminal by SL Green.
$4B Better Buildings Challenge Unites Government, Private Sector
Saying “we can’t wait for Congress to act,” President Obama on Friday announced that over the next two years, nearly $4 billion in combined federal and private-sector money will be surging into energy upgrades to buildings.
Week in Review: Industry Moves and Hires
This week has seen four major hires: David Morrison as global head of strategy at CBRE-GI; Javier Rosenberg as Radisson COO and Carlson EVP; John Gavin as principal with Sterling Bay; and Mark Wanic as Cushman’s head of occupier services in the Americas.
In Depth: Lance Capital's Creative Financing Drives Brooklyn's 470 Vanderbilt Lease
While the ink has cooled on the lease signing at Brooklyn’s 470 Vanderbilt project, CPE was able to sit down with Lance Capital to see how creative financing terms pushed the deal through with the anchor tenant, the New York City Human Resources Administration.
Avaya Signs 275 KSF Lease for Santa Clara Office
Harvest Properties and Prudential Real Estate Investors have snagged a tenant for nearly half of the Towers at Great America in Santa Clara, Calif., as Avaya, a global business-communications firm, has signed a lease for 275,200 square feet.
Amid Changes, Furloughs at Grubb, Healthcare REIT Picks up $112M Portfolio
Amid the process of furloughing a small percentage of its workforce, Grubb & Ellis is still seeing one of its vehicles — Grubb & Ellis Healthcare REIT II — purchase an eight-property medical-office portfolio for $112 million.
A $76M Sale, a Possible Revival for D.C.’s Watergate
Penzance has just purchased its own slice of American history for the price of $76 million, picking up one of the two office towers in the iconic Washington, D.C.-based Watergate complex.
JLL to Lease 1.1 MSF Office at 11 Times Square
SJP Properties, owner and developer of the year-old 11 Times Square in Manhattan, has tapped Jones Lang LaSalle to serve as the exclusive leasing agent for the 1.1 million-square-foot office tower.
NAR: Growth in Commercial Real Estate Markets Expected in 2012
The name of the game lately is optimism. In its most recent report, the NAR asserted that while commercial real estate markets have been relatively flat in 2011, improving fundamentals should show a more positive trend in 2012.