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.
Warner Bros. Sale Leaseback of the Burbank Ranch Now Official
The development delivery of the land swap deal is scheduled for 2023, which coincides with Warner’s 100th anniversary. Since breaking ground in early 2020, the Second Century Project’s distinct profile is already taking shape.
Revamped Los Angeles Creative Office Commands $153M
IRA Capital believes in strong post-pandemic recovery, pays $153 million on recently renovated Los Angeles office space leased to live entertainment tenant.
Nashville Yards Attracts Prominent Law Firm HQ Relocation
The largest law firm in Nashville has announced it will relocate its headquarters to the top floors of Southwest Value Partners’ 35-story office development at 201 Platform South.
VISA to Join Microsoft & Google in Atlanta’s Hottest Office Submarket
VISA joins Google, Microsoft, and others in the race to attract some of the diverse talent graduating from the various H.B.C.U.s in the city, as well as from Georgia Tech and Georgia State.
CI Financial Signs Lease for U.S. Headquarters in Miami
Both New York and Dallas were on CI Financial’s shortlist for its new base of operations in the U.S., but Miami ended up being the Toronto-based company’s preferred choice.
Paramount Closes 2 Lease Deals for 1301 Avenue of the Americas
The French banking group shrank its presence at 1301 Avenue of the Americas from its previous 240,000 square feet. Meanwhile, SVB Leerink — an investment bank specializing in healthcare and life sciences — signed up for more than double the Midtown Manhattan office space it had previously occupied.
BXP Enters Seattle Office Market with Purchase of Safeco Plaza
Safeco Plaza in Seattle’s central business district has traded hands for $465 million to a joint venture managed by top publicly traded class A office owner, Boston Properties in a deal that brings the ownership, management and develop behemoth to the Seattle office market.
National Office Report 2021: Vacancy Rates Stabilize as Listing Rates Slowly Perk Up
While office sales activity has remained below pre-pandemic levels, transactions recorded through July of this year totaled roughly $37 billion. Likewise, investment activity also remains below pre-pandemic levels and, if the current pace of completed transactions holds steady, 2021 office sales could even exceed the $62 billion recorded last year.
Pasadena Office Portfolio Fetches $80 Million
The $80 million Pasadena office portfolio totals 242,000 square feet and includes an 11-story property at 2 N. Lake Ave, a three-story building at 911 E. Colorado Blvd, a one-story structure located at 902 Boston Ct, and an additional six-story parking garage. The properties previously changed hands in 2009 for roughly $52 million.
The Most Ambitious Concept Skyscrapers Ever Envisioned
Skyscrapers are among the most awe-inspiring feats of modern engineering and architecture. However, some concept skyscrapers aim to test or even exceed the limits of engineering. Here are the 10 biggest and most ambitious skyscraper concepts that range from the challenging to the impossible.
