Office
Office Cost Trends: A Snapshot
A strengthening office market nudged both income and expenses upward from 2012 to 2013, according to the 2014 Experience Exchange Report, the annual survey conducted by the Building Owners and Managers Association International and Kingsley Associates. Expense categories that posted the biggest gains include fixed expenses (8.4 percent), repairs and maintenance (5.9 percent) and security (5.8 percent). Reversing a four-year decline, utility expenses increased 2.4 percent. On the other side of the ledger, total income increased 7.4 percent year over year and rental revenue rose 7.2 percent. For a preview of operations costs in 2015, don’t miss “Price-Tag Preview” in…
TIAA-CREF, Norges Bank Buy Hall of the Americas
One might surmise that not since the start of the Viking Era in the eighth century has a Nordic invasion of this magnitude been seen, though this one uses joint ventures rather than long ships.
High 5 Games Joins Tenant Roster at One World Trade Center
High 5 Games is the latest company to sign a deal and will take 87,663 square feet at the downtown Manhattan office tower, officials announced Thursday.
JLL Sets Footprint in Portland with Acquisition of Cresa Office
The global real estate firm is buying Cresa Portland, the city’s leading tenant representation firm.
CBRE Report: Most Economical Markets for Leasing Data Centers
With the growing dependency on cloud computing, demand for leased data center space is on the rise, and the costs can vary drastically from market to market, according to “Leasing a Data Center: U.S. Market Cost Comparison,” a new report by CBRE Group.
The Chiofaro Co. Receives $500M in Financing for Boston Office Complex
The Chiofaro Co. and an institutional partner have received $500 million in financing for International Place, a 1.8 million-square-foot, Class A trophy office complex located in Boston’s Financial District.
DRA Sells Fort Lauderdale’s Broward Financial Center for $112M, Reels in $61M in Financing
DRA Advisors has sold Broward Financial Center in Fort Lauderdale to AGS Property Corp., and HFF did double duty on the $112 million deal.
Shubin Nadal, DRA to Rebrand 800 KSF Office, Industrial Property in L.A.
Shubin Nadal Realty Investors has teamed with DRA Advisors on the acquisition of the 44-acre Harman International Business Campus located in the heart of the San Fernando Valley area of Los Angeles, and will rebrand the property as “The Campus.”
TA Associates Buys 272 KSF Office Tower in Iselin, NJ
TA Associates Realty has acquired 99 Wood Ave. S., a 272,000-square-foot trophy office building in Iselin, N.J.’s resurgent Metropark office market.
CBRE Secures $100M Loan for Netflix HQ in Silicon Valley
The Debt & Structured Finance team of CBRE Capital Markets has secured a $100 million construction loan for The Grove, in Los Gatos, Calif.