Office
The World’s Priciest Office Markets
CBRE’s annual office occupancy costs report highlights the strengths of gateway cities around the globe, including 12 in the U.S. that were among the 50 most expensive markets.
Blackstone to Buy Stake in $630M UK Firm
BREP Europe V is acquiring a majority interest in The Office Group, which is expected to reach more than 1.1 million square feet of flexible workspace within the next 12 months.
Century City Office Asset Changes Hands
Harbor Associates shelled out $14.7 million for the property previously occupied by the Spanish Broadcasting System. The new owner plans a comprehensive rebranding and renovation program.
LA Job Growth Spurs Leasing Surge
Los Angeles-based up-and-coming tech, engineering and financial firms drive the continued demand for office space, while development and leasing remain robust.
Modular Sofa Adds Design, Functionality
Modern Office Furniture’s Zig Zag sofa can be arranged and re-arranged in various formations to accommodate different seating or room layout requirements. The pieces are modular and come fully assembled, offering a pre-built seating concept for lobbies or entryways.
Jersey City Office Building Sells for $20M
Rhodium Capital Advisors acquired 600 Pavonia Ave., an 85,000-square-foot office building situated in Jersey City’s Journal Square neighborhood. The asset is set to undergo $3 million renovations.
Office Evolution Debuts Business Center in Charleston
The business center features professional on-demand office and co-working space among several other amenities suitable for small businesses and entrepreneurs.
Pennsylvania Offices Trade for $23M
Brookwood Financial Partners LLC disposed of three office buildings totaling 150,000 square feet located in suburban Philadelphia and the Lehigh Valley area. The properties are part of a 29-asset portfolio that the firm purchased in 2015.
Fort Lauderdale Office Asset Sells for $3M
The vacant property changed hands in an off-market deal. The new owner plans to renovate the building and bring it in line with Class A office standards.
SGPS Snaps Up Atlanta-Area Medical Office Portfolio
The strategic location and accessibility of the assets will help the new owner fill the properties’ remaining vacancies by attracting tenants focused on surgical and diagnostic specialty centers.