Office
CoreNet: JLL Says Tenants in Smart Growth Phase
As more employees share space or work from home, companies are finding they need fewer physical square feet. With U.S. companies in the United States on the forefront of such alternative workspace strategies, it should come as no shock that JLL predicts a negative net portfolio growth in the U.S. corporate real estate market over the next three years.
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.
315,900-SF Suburban D.C. Office Building Fetches $90M
Eleven years after snapping up the Class A property for nearly $59.3 million, LaSalle Investment Management Inc. sold the asset to CB Richard Ellis Investors.
Broadway Partners to Recap 450 W. 33rd St.
The 1.6 million-square-foot Class A office building is located two blocks from New York’s Penn Station and includes tenants such as The Associated Press and New York Daily News.
Hyundai Capital Expands in SoCal
The firm has just moved into an additional 30,446 square feet of space at The Michelson, a 533,000-square-foot office tower in the city of Irvine.
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.
Jones Lang LaSalle Tapped to Lease Midtown Office Building
There are a few holes in the tenant roster, but JLL plans to fill in the gaps at the premier 301,000-square-foot office building.
New Boston Fund Acquires Trio of N.C. Buildings
The properties — one Harris Corners, Two Harris Corners and Three Harris Corners — total 361,144 square feet.
Record Broken
Totaling approximately 827,300 square feet, the trophy buildings at 70 and 90 Hudson St. in Jersey City, N.J., fetched $310 million in Hartz Mountain Industries’ sale of the assets to CB Richard Ellis Realty Trust.
Lehman-Seized Office Asset Fetches $60.3M
Some investors may shun an office property burdened by a sizable mortgage that is soon to expire. However, a debt-laden property with a full tenant roster such as One Fair Oaks in Fairfax, Va., is nothing to sneeze at, according to First Potomac Realty Trust.