Office
Jersey City Trumps Manhattan, Landing Big Fish with DTCC’s 415,000SF Office Lease
New York’s loss is New Jersey’s gain, as the Depository Trust & Clearing Corporation reveals plans to relocate 1,600 members of its 2,300-member staff to 415,000 square feet of space at the Newport Office Center in Jersey City. It’s not a total defeat for New York, however; DTCC will keep its headquarters and its remaining 700 employees in Lower Manhattan.
To Shore Up Balance Sheets, REITs Like Brandywine Look to Divest Non-Core Assets
With loans still hard to come by, Brandywine Realty Trust is shoring up its balance sheet, reducing leverage and preparing for investment opportunities with the disposition of non-core assets, including two properties in Trenton, N.J. The REIT just completed the sale of the office buildings at 33 W. State St. and 50 E. State St., totaling 474,000 square feet, to a private investment group.
As San Antonio Office Market Rebounds, Transwestern Takes Over at 2MSF Mixed-Use
With San Antonio’s office market rebounding in the third quarter, Transwestern’s local office hopes to take advantage of that good karma with the contract to handle the real estate services assignment for the Brooks City-Base development there.
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