Office
IRS Claims 105,000 SF at D.C. Complex
It’s not April 15 yet, but the Internal Revenue Service has filed — papers for a new office lease, that is. Acting on the agency’s behalf, the U.S. General Services Administration entered into a lease agreement with property owner CIM Group to occupy space at the Union Square office complex near the city’s Union Station.
Facebook Leases New 1 MSF HQ
The nine-building campus, located at 1601 Willow Road about 30 miles south of San Francisco in San Mateo County, materialized over a two-year period commencing in 1993. Oracle came into possession of the asset in January 2010 when it officially completed its $7.4 billion buyout of Sun Microsystems.
Brown Revokes Sale of Calif. Buildings
The Golden State’s governor announced that he will cancel the proposed $1.2 billion transaction, claiming that now is not the optimal time to sell real estate.
With 100,000 SF Lease, Architectural Gem in L.A. to be Focus of New Google Campus
The internet search engine giant will have a new campus with a fancy face, courtesy of a 100,000-square-foot office lease agreement with W.P. Carey & Co. L.L.C. — and that face has eyes.
CoStar Headquarters Commands $101M
In a sale-leaseback deal, an affiliate of GLL Real Estate Partners GmbH bought the 169,000-square-foot property just one year after CoStar acquired it from the Mortgage Bankers Association for $41 million.
L.A. Uses Tax Breaks to Lure Gensler
Even in a recovering office market, it is unusual for a modest-size 45,000-square-foot office lease to command the attention of a big-city mayor and other officials. That was the case in Los Angeles, however, as the mayor and other leaders publicly touted the architectural firm’s decision to relocate to the City of Angels as a vindication of its pro-business policies.
In Rare Big-Block Phoenix Office Lease, Cognizant Takes 130,700 SF
The worst may be over for the struggling Phoenix office market, where vacancy edged up only 10 basis points to 22.9 percent from the first to the fourth quarters last year.
L.A. Complex Fetches Rumored $300M
The sellers, Lincoln Property Co. and ASB Capital Management, have entitlements to build another 750,000 square feet at the master-planned office development.
Office Market Continues Rebound: Colliers Report
Around the country, absorption is up, vacancy is slipping and rents for Class A product in central business districts are on the rise.
Washington Office Building Commands $137M in Sale to Joint Venture
Carr Properties, the Canada Pension Plan Investment Board and MetLife bought the 341,433-square-foot asset from Tishman Speyer.