Office
Read the latest real estate industry news with a focus on traditional office space leases, office property sale transactions, new office project construction and adaptive reuse repositioning programs, and more.
Congress Square Office Tower in Downtown Boston Recapitalized
Just off of fresh renovations, 40 Water St, a.k.a. Congress Square, in downtown Boston has been recapitalized with new owners led by Hana Financial and KTB Asset Management which took a 95% ownership stake in the property for $342 million.
NASIS Buys Recently Completed South Bend Corporate Office Property
The Los Angeles investor has recently completed the acquisition of a newly constructed corporate office building that is part of the Ignition Park development in South Bend, Indiana.
Cousins Properties Sells LEED Platinum Austin Office Building
Cousins Properties has been actively restructuring its Sun Belt portfolio throughout 2021. In a recent move, the company sold its Congress Ave LEED Platinum-certified office building.
Goldman Sachs, Lincoln Harris, Honeywell JV Sells Newest Charlotte Legacy Union Office Building
Electronics manufacturer Honeywell International is in the first year of its 15-year Charlotte office space lease at Legacy Union, which is only one of the many points of attraction for investors bullish on the hot North Carolina market.
Columbia Property Trust Inks 2nd Lease Deal at 799 Broadway
Columbia Property Trust signed its second tenant at its ongoing development at 799 Broadway, just one a month after securing its first lease for the building. Bain Venture Capital will occupy the entire 10th floor – roughly 8,756 square feet – of the 10-story Manhattan office space on a 10-year contract. Asking rent was between $150 and $200 per square foot.
Microsoft To Lease 150,000 Square Feet in Union Square Office Tower
Microsoft signed a lease for 150,000 square feet of office space in the 10-story Flatiron District tower at 122 Fifth Ave. in Union Square. The tech giant will occupy roughly half of the property — floors six through 10, which were previously leased to Barnes & Noble. Asking rents remain undisclosed for the time being, and Microsoft has yet to establish a clear move-in date.
Rudin & BXP Sign 2nd Tenant at Brooklyn Navy Yards’ Dock 72
After a long pandemic wait, WeWork is no longer the only name on the tenant roster at Dock 72. Navy Yards will be the new home of Food52, relocating to Brooklyn from Chelsea in 2022.
Boeing-Leased Denver Office Property Sells for $67 Million
The property’s best-in-class amenities complement its location, which is highly advantageous in various industries, both for tenants looking to tap into the rich local talent pool, as well as tenants moving products throughout the region and beyond.
Office Vacancy Across Top U.S. Markets Dipped Below 15%, National Leasing Rates Stable
Office sales across key U.S. office markets analyzed for this most recent report surpassed $50 billion during the first nine months of 2021, while the average sales price per square foot continued to climb.
iCapital Extends One Grand Central Lease, Doubling Its Footprint
Fintech platform iCapital increased its footprint at One Grand Central Place in midtown Manhattan, virtually doubling its initial presence in the building to a total of 64,500 square feet.
