Office
BRAC Activities Spur JV Plan for 4.5M-SF Business Park in Huntsville, Ala.
To accommodate the impending space requirements near the U.S. Army’s Redstone Arsenal in Northern Alabama, Columbia, Md.-based Corporate Office Properties Trust has created a joint venture with Montgomery, Ala.-based real estate concern Jim Wilson & Associates L.L.C. to develop the 4.6 million-square-foot Redstone Gateway business park in Huntsville.
Analysis: WTC Deal Ties Buildout to Market Conditions
Thursday’s landmark deal breaking the long deadlock over the financing of the World Trade Center redevelopment provides for flexibility in the face of Manhattan’s uncertain office market.
WTC Agreement Receives Praise
A New York state assemblyman and congressman both hailed the agreement that will see two new skyscrapers constructed on Ground Zero.
JetBlue Renews its Commitment to NYC and Soaks Up 200,000 SF of Sublet Space
After surveying various locations across the country, JetBlue Airways has decided to stay put in New York and consolidate its area headquarters space via a new 200,000-square-foot sublease at the Brewster Building in Long Island City, Queens.
Lenders Come Out Strong for Two $70M Financings for NYC Office Buildings
Tangible evidence of the defrosting of credit markets continues to emerge.
D.C. Law Firm Renews 335,240 SF Lease
The Washington Business Journal is reporting that law firm Wiley Rein LLP has renewed its 335,240 square-foot lease in Washington, D.C. It is the largest transaction thus far in 2010.
Transwestern Inks 21K SF Lease at LA’s AT&T Center
The Los Angeles office of real estate and development firm Transwestern said Thursday that it has arranged a new long-term lease with Ampco System Parking for 21,031 square feet of space in the AT&T Center, located at 1150 South Olive Street in the City of Angels’ downtown area.
$657M Settlement Reached With WTC Rescue Workers
The WTC Captive Insurance Company on Thursday announced that a settlement has been reached with attorneys on behalf of more than 10,000 plaintiffs claiming injuries related to the rescue, recovery, and debris removal operations in the wake of the 9/11 terrorist attacks.
Fitch Says Silverstein in “Imminent Default” on $325M Loan Balance
A $325 million loan balance on developer Larry Silverstein’s property, 575 Lexington Avenue in Manhattan, was transferred to special servicing earlier this week, which Fitch Ratings says is due to imminent default.
Crocker Tapped to Lease Mizner Park Office Tower
Real estate investment firm Crocker Partners has been chosen to lease the 164,000 square-foot Mizner Park Office Tower and the 103,000 square-foot Mizner Park Office Plaza, both located at Mizner Park in downtown Boca Raton, Fla.