Office
Skanska USA Begins $70M Lab and Office Building in Boston Area
Skanska USA has announced a $70 million investment in a laboratory and office building in Cambridge, Mass., capitalizing on the hot medical-property market in the Boston area.
Panavision Takes 145,000 SF of Flex Space for HQ in Suburban L.A.
Angelo Gordon & Co. has taken its 145,000-square-foot office/R&D property at 6101 Variel Ave. in Woodland Hills, Calif., from vacant to full with the signing of Panavision, which will occupy the entire structure.
85,000 SF Lease Takes a Chunk out of Manhattan’s 685 Third Ave.
Marks Paneth & Shron L.L.P. just found a new home, as the accounting firm signed a lease for nearly 85,500 square feet of office space at 685 Third Ave. in Midtown Manhattan from building owner TIAA-CREF.
Edge, HSBC Get 100% Ownership in Times Square’s 1540 Broadway
After acquiring a 49 percent stake in 1540 Broadway last November, Edge Fund Advisors has partnered with HSBC Alternative Investments to take the remaining 51 percent stake in the 907,000-square-foot Times Square property.
MetLife Makes $550M in Loans for Class A Properties in San Fran, D.C.
MetLife has originated a $300 million loan for San Francisco’s Bank of America Center and an additional $250 million in loans for the Washington Square Building in Washington, D.C.
Report: Demand for Tech Fueling Office Recovery
Reports by Jones Lang LaSalle and Cassidy Turley pinpoint one of the brightest spots in the CRE office space: High-tech firms, through venture capital, are creating better-than-average employment numbers.
Witkoff, Morgan Stanley Buy Manhattan’s 1107 Broadway for $191M; Plan Condos
The 305,000-square-foot former office building at 1107 Broadway in Manhattan, formerly the Toy Building North, has come under the ownership of Morgan Stanley Real Estate Investing and The Witkoff Group for $191 million.
MEPT Spends $217.5M for Chicago’s 200 W. Madison
Multi-Employer Property Trust has purchased Chicago’s 45-story 200 W. Madison Ave. from a joint venture that includes Tishman Speyer, Pearlmark Real Estate Advisors L.L.C. and a major U.S. pension plan for approximately $217.5 million.
Savanna Makes $130M Building Grab in NYC’s Midtown
Savanna has just acquired 31 Penn Plaza in NYC’s Midtown area. The seller, a joint venture between C&K Properties and Zamir Equities, let the 18-story, 440,000-square-foot property go for approximately $130 million.
Philly’s 1700 Market St. Sells for $143.5M
In a $143.5 million deal, the Class A office building at Philadelphia’s 1700 Market St. was purchased by a partnership formed by David Werner, a private real estate investor.