Property Management
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…
Industry Partners, RKF To Market Space in Converted L.A. Coca-Cola Plant
GPI Cos. and Atlas Capital plan to transform a former Coca-Cola production facility into 150,000 square feet of creative office, retail and restaurant space.
The November digital issue of CPE is now available!
Check out CPE’s November digital issue here!
Voit to Manage, Reposition 2 MSF Industrial Portfolio in Reno
The Reno office of Voit Real Estate Services will provide property management and repositioning services for two industrial portfolios totaling more than 2 million square feet in Reno for Northwestern Mutual.
Hilton Sells Waldorf Astoria NY for $1.95B
Anbang Insurance Group Co. Ltd. has acquired the historic Waldorf Astoria New York from Hilton Worldwide Holdings Inc. for $1.95 billion, although the U.S.-based hotel chain will continue to operate the property for the next century.
Executive Spotlight: Jim Postell, Transwestern
Jim Postell built two regional commercial real estate offices from the ground up in his home state of New Jersey, the first for Trammell Crow Co. and the second for Transwestern. That office was recently recognized as New Jersey’s “Best Place to Work” by NJBIZ.