{"id":6363,"date":"2017-03-20T00:00:15","date_gmt":"2017-03-20T00:00:15","guid":{"rendered":"https:\/\/www.commercialcafe.com\/blog\/?p=6363"},"modified":"2026-04-30T10:51:15","modified_gmt":"2026-04-30T07:51:15","slug":"top-50-us-office-deals-2016","status":"publish","type":"post","link":"https:\/\/www.commercialcafe.com\/blog\/top-50-us-office-deals-2016\/","title":{"rendered":"Top 50 US Office Deals of 2016"},"content":{"rendered":"<h4>Key takeaways:<\/h4>\n<ul>\n<li><a href=\"#axacenter\">NYC&#8217;s AXA Equitable Center trades in largest single-asset deal of the year<\/a><\/li>\n<li><a href=\"#foreigninvestment\">Asian investment accounts for 15% of the top 50 largest sales of 2016<\/a><\/li>\n<li><a href=\"#portfoliodeals\">Are portfolio deals making a comeback? Cousins-Parkway merger steals the show<\/a><\/li>\n<li><a href=\"#topdestinations\">NYC, Boston, L.A. transactions fetch top dollar in 2016<\/a><\/li>\n<li><a href=\"#blackstone\">Blackstone emerges as the year&#8217;s most active office buyer<\/a><\/li>\n<li><a href=\"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/03\/Top-50-deals-US-2016.xlsx\" target=\"_blank\" rel=\"noopener\">Download raw report data<\/a><\/li>\n<\/ul>\n<p>The U.S. commercial real estate market took something of a respite in 2016, during a year characterized by political volatility. Compared to the previous year, when the market fired on all cylinders, office players were more cautious in 2016, with leasing and sales activity cooling down to more sustainable levels, per most industry reports.<\/p>\n<p>Office tenants were reluctant to make any major moves pending the conclusion of the presidential election, thus lease renewals and consolidations took the stage in the past year. Though office sales activity also decreased 7% year-over-year, according to <a href=\"https:\/\/www.colliers.com\/-\/media\/files\/marketresearch\/unitedstates\/2017-research-reports\/q4-2016-us-office-report.pdf\" target=\"_blank\" rel=\"nofollow noopener\">Colliers<\/a>, the national transaction volume was still the fourth-highest yearly total in the past 15 years, reaching $140.5 billion.<\/p>\n<p>We enlisted the help of <a href=\"https:\/\/www.yardimatrix.com\/\" target=\"_blank\" rel=\"nofollow noopener\">Yardi Matrix<\/a> sales data to round up a list of the 50 largest office deals of 2016. The results of our analysis aren\u2019t all that surprising: the\u00a0<a href=\"https:\/\/www.commercialcafe.com\/blog\/new-york-city-office-report-2016\/\" target=\"_blank\" rel=\"noopener\">New York City\u00a0office investment<\/a> market remains the most attractive destination for both local and offshore buyers, though other markets also landed a good deal of capital in the past year. The U.S. office market is poised to become even more attractive in the future, especially to foreign investors, if Brexit goes through.<\/p>\n<p><em>Check out the list of the <strong>top 50 largest office deals of 2016<\/strong> below:<\/em><\/p>\n\n<table id=\"tablepress-11\" class=\"tablepress tablepress-id-11\">\n<thead>\n<tr class=\"row-1\">\n\t<th class=\"column-1\">#<\/th><th class=\"column-2\">Address<\/th><th class=\"column-3\">City<\/th><th class=\"column-4\">Dollar amount<\/th><th class=\"column-5\">Buyer<\/th><th class=\"column-6\">Seller<\/th>\n<\/tr>\n<\/thead>\n<tbody class=\"row-striping row-hover\">\n<tr class=\"row-2\">\n\t<td class=\"column-1\">1<\/td><td class=\"column-2\">Parkway Properties portfolio - 19 assets<\/td><td class=\"column-3\">cross-market<\/td><td class=\"column-4\">$1,950,000,000<\/td><td class=\"column-5\">Cousins Properties<\/td><td class=\"column-6\">Parkway Properties<\/td>\n<\/tr>\n<tr class=\"row-3\">\n\t<td class=\"column-1\">2<\/td><td class=\"column-2\">787 7th Avenue<\/td><td class=\"column-3\">New York<\/td><td class=\"column-4\">$1,932,900,000<\/td><td class=\"column-5\">CalPERS<\/td><td class=\"column-6\">AXA Financial<\/td>\n<\/tr>\n<tr class=\"row-4\">\n\t<td class=\"column-1\">3<\/td><td class=\"column-2\">388 Greenwich Street &amp; 390 Greenwich Street<\/td><td class=\"column-3\">New York<\/td><td class=\"column-4\">$1,767,913,114<\/td><td class=\"column-5\">Citigroup<\/td><td class=\"column-6\">SL Green Realty<\/td>\n<\/tr>\n<tr class=\"row-5\">\n\t<td class=\"column-1\">4<\/td><td class=\"column-2\">Alecta US Multisector portfolio - 21 assets<\/td><td class=\"column-3\">cross-market<\/td><td class=\"column-4\">$1,700,000,000<\/td><td class=\"column-5\">Blackstone Group<\/td><td class=\"column-6\">Alecta<\/td>\n<\/tr>\n<tr class=\"row-6\">\n\t<td class=\"column-1\">5<\/td><td class=\"column-2\">1285 Avenue of the Americas<\/td><td class=\"column-3\">New York<\/td><td class=\"column-4\">$1,649,000,000<\/td><td class=\"column-5\">RXR Realty + China Life<\/td><td class=\"column-6\">AXA Financial<\/td>\n<\/tr>\n<tr class=\"row-7\">\n\t<td class=\"column-1\">6<\/td><td class=\"column-2\">23 assets<\/td><td class=\"column-3\">cross-market<\/td><td class=\"column-4\">$1,500,000,000<\/td><td class=\"column-5\">Ventas<\/td><td class=\"column-6\">Wexford Science &amp; Technology<\/td>\n<\/tr>\n<tr class=\"row-8\">\n\t<td class=\"column-1\">7<\/td><td class=\"column-2\">550 Madison Avenue<\/td><td class=\"column-3\">New York<\/td><td class=\"column-4\">$1,400,000,000<\/td><td class=\"column-5\">The Olayan Group<\/td><td class=\"column-6\">The Chetrit Group<\/td>\n<\/tr>\n<tr class=\"row-9\">\n\t<td class=\"column-1\">8<\/td><td class=\"column-2\">10880, 10940, 10960 Wilshire &amp; 1100 Glendon Avenue<\/td><td class=\"column-3\">Los Angeles<\/td><td class=\"column-4\">$1,340,000,000<\/td><td class=\"column-5\">Douglas Emmett + Qatar Investment Authority (QIA)<\/td><td class=\"column-6\">Equity Office Properties Trust<\/td>\n<\/tr>\n<tr class=\"row-10\">\n\t<td class=\"column-1\">9<\/td><td class=\"column-2\">15 assets<\/td><td class=\"column-3\">cross-market<\/td><td class=\"column-4\">$1,162,000,000<\/td><td class=\"column-5\">Equity Office Properties Trust<\/td><td class=\"column-6\">Hines Interests<\/td>\n<\/tr>\n<tr class=\"row-11\">\n\t<td class=\"column-1\">10<\/td><td class=\"column-2\">1095 Avenue of the Americas<\/td><td class=\"column-3\">New York<\/td><td class=\"column-4\">$1,152,970,000<\/td><td class=\"column-5\">Hong Kong Monetary Authority<\/td><td class=\"column-6\">Ivanhoe Cambridge + Callahan Capital Partners<\/td>\n<\/tr>\n<tr class=\"row-12\">\n\t<td class=\"column-1\">11<\/td><td class=\"column-2\">63 Madison Avenue &amp; 200 Madison Avenue<\/td><td class=\"column-3\">New York<\/td><td class=\"column-4\">$1,150,000,000<\/td><td class=\"column-5\">Jamestown<\/td><td class=\"column-6\">George Comfort &amp; Sons + Loeb Partners Realty<\/td>\n<\/tr>\n<tr class=\"row-13\">\n\t<td class=\"column-1\">12<\/td><td class=\"column-2\">1221 Avenue of the Americas<\/td><td class=\"column-3\">New York<\/td><td class=\"column-4\">$1,030,000,000<\/td><td class=\"column-5\">China Investment Corporation<\/td><td class=\"column-6\">Canada Pension Plan Investment Board<\/td>\n<\/tr>\n<tr class=\"row-14\">\n\t<td class=\"column-1\">13<\/td><td class=\"column-2\">108 assets<\/td><td class=\"column-3\">cross-market<\/td><td class=\"column-4\">$969,000,000<\/td><td class=\"column-5\">Workspace Property Trust +  Safanad + Square Mile Capital<\/td><td class=\"column-6\">Liberty Property Trust<\/td>\n<\/tr>\n<tr class=\"row-15\">\n\t<td class=\"column-1\">14<\/td><td class=\"column-2\">1211 Avenue Of The Americas<\/td><td class=\"column-3\">New York<\/td><td class=\"column-4\">$913,623,081<\/td><td class=\"column-5\">Ivanhoe Cambridge<\/td><td class=\"column-6\">Beacon Capital Partners<\/td>\n<\/tr>\n<tr class=\"row-16\">\n\t<td class=\"column-1\">15<\/td><td class=\"column-2\">34 assets<\/td><td class=\"column-3\">cross-market<\/td><td class=\"column-4\">$837,900,000<\/td><td class=\"column-5\">Starwood Capital Group<\/td><td class=\"column-6\">NorthStar Realty Finance<\/td>\n<\/tr>\n<tr class=\"row-17\">\n\t<td class=\"column-1\">16<\/td><td class=\"column-2\">1150, 1201 and 1251 State St. &amp; 3661 N. Plano Road<\/td><td class=\"column-3\">Dallas<\/td><td class=\"column-4\">$825,000,000<\/td><td class=\"column-5\">Transwestern Investment Group + Mirae Asset Global Investments <\/td><td class=\"column-6\">State Farm Auto Insurance Company<\/td>\n<\/tr>\n<tr class=\"row-18\">\n\t<td class=\"column-1\">17<\/td><td class=\"column-2\">5 Times Square<\/td><td class=\"column-3\">New York<\/td><td class=\"column-4\">$800,000,000<\/td><td class=\"column-5\">RXR Realty<\/td><td class=\"column-6\">David Werner Real Estate<\/td>\n<\/tr>\n<tr class=\"row-19\">\n\t<td class=\"column-1\">18<\/td><td class=\"column-2\">1 Kendall Square<\/td><td class=\"column-3\">Boston<\/td><td class=\"column-4\">$725,000,000<\/td><td class=\"column-5\">Alexandria Real Estate Equities<\/td><td class=\"column-6\">DivcoWest<\/td>\n<\/tr>\n<tr class=\"row-20\">\n\t<td class=\"column-1\">19<\/td><td class=\"column-2\">7 assets<\/td><td class=\"column-3\">cross-market<\/td><td class=\"column-4\">$704,000,000<\/td><td class=\"column-5\">New York State Common Retirement Fund<\/td><td class=\"column-6\">MetLife<\/td>\n<\/tr>\n<tr class=\"row-21\">\n\t<td class=\"column-1\">20<\/td><td class=\"column-2\">1 New York Plaza<\/td><td class=\"column-3\">New York<\/td><td class=\"column-4\">$700,000,000<\/td><td class=\"column-5\">China Investment Corporation<\/td><td class=\"column-6\">Brookfield Property Partners<\/td>\n<\/tr>\n<tr class=\"row-22\">\n\t<td class=\"column-1\">21<\/td><td class=\"column-2\">3 Blackfan Circle<\/td><td class=\"column-3\">Boston<\/td><td class=\"column-4\">$630,424,951<\/td><td class=\"column-5\">Blackstone Group<\/td><td class=\"column-6\">BioMed Realty Trust<\/td>\n<\/tr>\n<tr class=\"row-23\">\n\t<td class=\"column-1\">22<\/td><td class=\"column-2\">1250 Broadway<\/td><td class=\"column-3\">New York<\/td><td class=\"column-4\">$565,000,000<\/td><td class=\"column-5\">Global Holdings<\/td><td class=\"column-6\">Jamestown<\/td>\n<\/tr>\n<tr class=\"row-24\">\n\t<td class=\"column-1\">23<\/td><td class=\"column-2\">7 West 34th Street<\/td><td class=\"column-3\">New York<\/td><td class=\"column-4\">$561,000,000<\/td><td class=\"column-5\">Korea Post<\/td><td class=\"column-6\">Vornado Realty Trust<\/td>\n<\/tr>\n<tr class=\"row-25\">\n\t<td class=\"column-1\">24<\/td><td class=\"column-2\">693 5th Avenue<\/td><td class=\"column-3\">New York<\/td><td class=\"column-4\">$525,000,000<\/td><td class=\"column-5\">Fimalac<\/td><td class=\"column-6\">Thor Equities<\/td>\n<\/tr>\n<tr class=\"row-26\">\n\t<td class=\"column-1\">25<\/td><td class=\"column-2\">1 Front Street<\/td><td class=\"column-3\">San Francisco<\/td><td class=\"column-4\">$521,000,000<\/td><td class=\"column-5\">Paramount Group<\/td><td class=\"column-6\">Invesco Real Estate<\/td>\n<\/tr>\n<tr class=\"row-27\">\n\t<td class=\"column-1\">26<\/td><td class=\"column-2\">200 South Biscayne Blvd<\/td><td class=\"column-3\">Miami<\/td><td class=\"column-4\">$516,600,000<\/td><td class=\"column-5\">Ponte Gadea<\/td><td class=\"column-6\">JP Morgan Asset Management<\/td>\n<\/tr>\n<tr class=\"row-28\">\n\t<td class=\"column-1\">27<\/td><td class=\"column-2\">Colorado Center - buildings A, B,C, D, E, F<\/td><td class=\"column-3\">Santa Monica<\/td><td class=\"column-4\">$511,100,000<\/td><td class=\"column-5\">Boston Properties<\/td><td class=\"column-6\">Blackstone Group<\/td>\n<\/tr>\n<tr class=\"row-29\">\n\t<td class=\"column-1\">28<\/td><td class=\"column-2\">555 and 575 Market Street<\/td><td class=\"column-3\">San Francisco<\/td><td class=\"column-4\">$510,000,000<\/td><td class=\"column-5\">Equity Office Properties Trust<\/td><td class=\"column-6\">John Hancock Real Estate<\/td>\n<\/tr>\n<tr class=\"row-30\">\n\t<td class=\"column-1\">29<\/td><td class=\"column-2\">11 Madison Avenue<\/td><td class=\"column-3\">New York<\/td><td class=\"column-4\">$480,000,000<\/td><td class=\"column-5\">PGIM Real Estate<\/td><td class=\"column-6\">SL Green Realty<\/td>\n<\/tr>\n<tr class=\"row-31\">\n\t<td class=\"column-1\">30<\/td><td class=\"column-2\">330 North Wabash Avenue<\/td><td class=\"column-3\">Chicago<\/td><td class=\"column-4\">$467,500,000<\/td><td class=\"column-5\">Beacon Capital Partners<\/td><td class=\"column-6\">Riverview Realty Partners + Five Mile Capital Partners<\/td>\n<\/tr>\n<tr class=\"row-32\">\n\t<td class=\"column-1\">31<\/td><td class=\"column-2\">850 3rd Avenue<\/td><td class=\"column-3\">New York<\/td><td class=\"column-4\">$463,000,000<\/td><td class=\"column-5\">MHP Real Estate Services + HNA<\/td><td class=\"column-6\">Shorenstein<\/td>\n<\/tr>\n<tr class=\"row-33\">\n\t<td class=\"column-1\">32<\/td><td class=\"column-2\">885 3rd Avenue<\/td><td class=\"column-3\">New York<\/td><td class=\"column-4\">$453,000,000<\/td><td class=\"column-5\">Ceruzzi Properties + Shanghai Municipal Investment USA<\/td><td class=\"column-6\">SL Green Realty<\/td>\n<\/tr>\n<tr class=\"row-34\">\n\t<td class=\"column-1\">33<\/td><td class=\"column-2\">101 Seaport Blvd<\/td><td class=\"column-3\">Boston<\/td><td class=\"column-4\">$452,000,000<\/td><td class=\"column-5\">Union Investment Real Estate<\/td><td class=\"column-6\">Skanska<\/td>\n<\/tr>\n<tr class=\"row-35\">\n\t<td class=\"column-1\">34<\/td><td class=\"column-2\">12181 - 12121 West Bluff Creek Drive<\/td><td class=\"column-3\">Los Angeles<\/td><td class=\"column-4\">$428,900,000<\/td><td class=\"column-5\">Edward J. Minskoff Equities<\/td><td class=\"column-6\">JP Morgan Asset Management<\/td>\n<\/tr>\n<tr class=\"row-36\">\n\t<td class=\"column-1\">35<\/td><td class=\"column-2\">175 N Street NE &amp; 150 M Street NE<\/td><td class=\"column-3\">Washington<\/td><td class=\"column-4\">$422,000,000<\/td><td class=\"column-5\">MetLife Real Estate Investment + Norges Bank Real Estate Management<\/td><td class=\"column-6\">StonebridgeCarras + Walton Street Capital<\/td>\n<\/tr>\n<tr class=\"row-37\">\n\t<td class=\"column-1\">36<\/td><td class=\"column-2\">501 West 30th Street<\/td><td class=\"column-3\">New York<\/td><td class=\"column-4\">$420,000,000<\/td><td class=\"column-5\">Allianz Real Estate of America<\/td><td class=\"column-6\">Related Companies<\/td>\n<\/tr>\n<tr class=\"row-38\">\n\t<td class=\"column-1\">37<\/td><td class=\"column-2\">3000 Olympic Blvd<\/td><td class=\"column-3\">Santa Monica<\/td><td class=\"column-4\">$403,000,500<\/td><td class=\"column-5\">Brightstone Capital Partners<\/td><td class=\"column-6\">Jamestown<\/td>\n<\/tr>\n<tr class=\"row-39\">\n\t<td class=\"column-1\">38<\/td><td class=\"column-2\">58 assets<\/td><td class=\"column-3\">cross-market<\/td><td class=\"column-4\">$398,100,000<\/td><td class=\"column-5\">Och Ziff Capital Management Group<\/td><td class=\"column-6\">Brandywine Realty Trust<\/td>\n<\/tr>\n<tr class=\"row-40\">\n\t<td class=\"column-1\">39<\/td><td class=\"column-2\">1001 4th Avenue<\/td><td class=\"column-3\">Seattle<\/td><td class=\"column-4\">$387,000,000<\/td><td class=\"column-5\">GLL Real Estate Partners + Vestas Investment Management<\/td><td class=\"column-6\">CalPERS<\/td>\n<\/tr>\n<tr class=\"row-41\">\n\t<td class=\"column-1\">40<\/td><td class=\"column-2\">760 Market Street<\/td><td class=\"column-3\">San Francisco<\/td><td class=\"column-4\">$374,000,000<\/td><td class=\"column-5\">Main Place Liberty Group<\/td><td class=\"column-6\">Thor Equities<\/td>\n<\/tr>\n<tr class=\"row-42\">\n\t<td class=\"column-1\">41<\/td><td class=\"column-2\">2001 8th Avenue<\/td><td class=\"column-3\">Seattle<\/td><td class=\"column-4\">$370,000,000<\/td><td class=\"column-5\">Deutsche Asset Management<\/td><td class=\"column-6\">AEW Capital Management<\/td>\n<\/tr>\n<tr class=\"row-43\">\n\t<td class=\"column-1\">42<\/td><td class=\"column-2\">2700 Colorado Avenue<\/td><td class=\"column-3\">Santa Monica<\/td><td class=\"column-4\">$367,648,000<\/td><td class=\"column-5\">Oracle<\/td><td class=\"column-6\">Invesco Real Estate<\/td>\n<\/tr>\n<tr class=\"row-44\">\n\t<td class=\"column-1\">43<\/td><td class=\"column-2\">2970 Market Street<\/td><td class=\"column-3\">Philadelphia<\/td><td class=\"column-4\">$354,000,000<\/td><td class=\"column-5\">Korea Investment Management Company<\/td><td class=\"column-6\">Brandywine Realty Trust<\/td>\n<\/tr>\n<tr class=\"row-45\">\n\t<td class=\"column-1\">44<\/td><td class=\"column-2\">6501 Legacy Drive<\/td><td class=\"column-3\">Plano<\/td><td class=\"column-4\">$353,000,000<\/td><td class=\"column-5\">Dreien Opportunity Partners<\/td><td class=\"column-6\">JCPenney<\/td>\n<\/tr>\n<tr class=\"row-46\">\n\t<td class=\"column-1\">45<\/td><td class=\"column-2\">655 15th Street NW<\/td><td class=\"column-3\">Washington<\/td><td class=\"column-4\">$352,750,000<\/td><td class=\"column-5\">Blackstone Group<\/td><td class=\"column-6\">Boston Properties + New York State Common Retirement Fund<\/td>\n<\/tr>\n<tr class=\"row-47\">\n\t<td class=\"column-1\">46<\/td><td class=\"column-2\">505 Howard Street<\/td><td class=\"column-3\">San Francisco<\/td><td class=\"column-4\">$350,000,000<\/td><td class=\"column-5\">American Realty Advisors<\/td><td class=\"column-6\">Tishman Speyer<\/td>\n<\/tr>\n<tr class=\"row-48\">\n\t<td class=\"column-1\">47<\/td><td class=\"column-2\">700 Hidden Ridge Drive &amp; 600 Hidden Ridge Drive<\/td><td class=\"column-3\">Irving<\/td><td class=\"column-4\">$344,000,000<\/td><td class=\"column-5\">Mesirow Financial<\/td><td class=\"column-6\">Verizon<\/td>\n<\/tr>\n<tr class=\"row-49\">\n\t<td class=\"column-1\">48<\/td><td class=\"column-2\">321 North Clark Street<\/td><td class=\"column-3\">Chicago<\/td><td class=\"column-4\">$340,100,000<\/td><td class=\"column-5\">Diversified Real Estate Capital<\/td><td class=\"column-6\">Hines Interests<\/td>\n<\/tr>\n<tr class=\"row-50\">\n\t<td class=\"column-1\">49<\/td><td class=\"column-2\">51-65 Furman St<\/td><td class=\"column-3\">New York<\/td><td class=\"column-4\">$340,000,000<\/td><td class=\"column-5\">CIM Group + Kushner Companies + LIVWRK<\/td><td class=\"column-6\">Jehovah's Witnesses<\/td>\n<\/tr>\n<tr class=\"row-51\">\n\t<td class=\"column-1\">50<\/td><td class=\"column-2\">14200 Shady Grove Rd<\/td><td class=\"column-3\">Rockville<\/td><td class=\"column-4\">$337,499,900<\/td><td class=\"column-5\">GI Partners<\/td><td class=\"column-6\">BioMed Realty<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n<h2 id=\"axacenter\">NYC Home to\u00a0Largest Single-Asset Sale of the Year<\/h2>\n<p><a href=\"https:\/\/www.commercialcafe.com\/blog\/top-nyc-office-deals-2016\/\" target=\"_blank\" rel=\"noopener\">The priciest office transaction\u00a0in New York City<\/a> and the second-largest overall office deal of the year was the $1.93 billion sale of the AXA Equitable Center at <a href=\"https:\/\/www.commercialcafe.com\/commercial-property\/us\/ny\/new-york\/787-seventh-avenue\/\" target=\"_blank\" rel=\"noopener\">787 Seventh\u00a0Avenue<\/a>\u00a0in Manhattan. One of the biggest investments in pension fund CalPERS&#8217; history, the sale closed Jan. 27, 2016, at $1,179 per square foot. The 51-story, 1.6 million-square-foot tower is LEED certified and includes 49,000 square feet of retail space, a parking garage and access to the underground concourse of Rockefeller Center. CalPERS bought the property from AXA Financial.<\/p>\n<div id=\"attachment_12834\" style=\"width: 650px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/03\/7851.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-12834\" class=\"wp-image-12834 size-full\" src=\"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/03\/7851.jpg\" alt=\"787 7th Avenue (Yardi Matrix)\" width=\"640\" height=\"800\" srcset=\"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/03\/7851.jpg 640w, https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/03\/7851.jpg?resize=120,150 120w, https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/03\/7851.jpg?resize=240,300 240w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><\/a><p id=\"caption-attachment-12834\" class=\"wp-caption-text\">787 7th Avenue (Yardi Matrix)<\/p><\/div>\n<h2 id=\"foreigninvestment\">Asian Investment Accounts for 15% out of the Top 50 Largest Sales of 2016<\/h2>\n<p>Drawn by the array of investment opportunities, the promise of long-term, stable returns and property market stability, foreign investors are now pumping more and more money into U.S. commercial real estate, with a clear focus on office assets. <strong>Seven\u00a0out of the top 50 office deals of the year were closed by Asian buyers, accounting for 15% of the\u00a0total sales volume<\/strong>. Notable transactions included China Life&#8217;s $1.64 billion purchase of <a href=\"https:\/\/www.commercialcafe.com\/commercial-property\/us\/ny\/new-york\/1285-avenue-of-the-americas\/\" target=\"_blank\" rel=\"noopener\">1285 Avenue of the Americas<\/a> in New York, in a joint venture with RXR Realty; the Hong Kong Monetary Authority&#8217;s $1.15 billion acquisition of <a href=\"https:\/\/www.commercialcafe.com\/commercial-property\/us\/ny\/new-york\/3-bryant-park\/\" target=\"_blank\" rel=\"noopener\">1095 Avenue of the Americas<\/a>; Mirae Asset Global Investments&#8217; $825 million partnership with Transwestern in Dallas; and Korea Investment Management Co.&#8217;s $354 million buy of <a href=\"https:\/\/www.commercialcafe.com\/commercial-property\/us\/pa\/philadelphia\/cira-square\/\" target=\"_blank\" rel=\"noopener\">2970 Market St.<\/a> in Philadelphia.<\/p>\n<div class=\"infogram-embed\" data-id=\"foreign_investments\" data-type=\"interactive\" data-title=\"Foreign investments\"><\/div>\n<p><script>!function(e,t,s,i){var n=\"InfogramEmbeds\",o=e.getElementsByTagName(\"script\"),d=o[0],r=\/^http:\/.test(e.location)?\"http:\":\"https:\";if(\/^\\\/{2}\/.test(i)&&(i=r+i),window[n]&&window[n].initialized)window[n].process&&window[n].process();else if(!e.getElementById(s)){var a=e.createElement(\"script\");a.async=1,a.id=s,a.src=i,d.parentNode.insertBefore(a,d)}}(document,0,\"infogram-async\",\"\/\/e.infogr.am\/js\/dist\/embed-loader-min.js\");<\/script><\/p>\n<p>It comes as no surprise then that the market has become a haven for offshore investors, who are pumping record amounts of capital into U.S. office assets, especially in primary urban cores. According to <a href=\"https:\/\/img04.en25.com\/Web\/JLLAmericas\/%7B02ef5590-1c54-4eeb-87fa-521f8b59e57c%7D_US__OFFICE_Investment_Outlook_-_Q4_2016.pdf\" target=\"_blank\" rel=\"nofollow noopener\">JLL research<\/a>, foreign office investment surpassed $20 billion in 2016, accounting for 16% of the overall acquisition volume. And while, historically, Canadians have been the most active foreign players on the market, Asian and German investors are now stealing the spotlight.<\/p>\n<p>According to an <a href=\"https:\/\/asiasociety.org\/files\/Asia%20Society%20Breaking%20Ground%20Complete%20Final.pdf\" target=\"_blank\" rel=\"nofollow noopener\">Asia Society special report<\/a>, China overtook Canada as the biggest foreign buyer of U.S. homes in 2015 and is already the largest holder of residential mortgage-backed securities issued by U.S. government-sponsored enterprises. A recent <a href=\"https:\/\/rhg.com\/notes\/record-deal-making-in-2016-pushes-cumulative-chinese-fdi-in-the-us-above-100-billion\" target=\"_blank\" rel=\"nofollow noopener\">Rhodium Group study<\/a>\u00a0further shows that Chinese companies invested a record $45.6 billion in the U.S. economy in 2016, triple the amount recorded in 2015. Most investments came in the form of acquisitions, which accounted for $44 billion, per the study, primarily focused on real estate and hospitality.<\/p>\n<p><script>!function(e,t,s,i){var n=\"InfogramEmbeds\",o=e.getElementsByTagName(\"script\"),r=o[0],d=\/^http:\/.test(e.location)?\"http:\":\"https:\";if(\/^\\\/{2}\/.test(i)&&(i=d+i),window[n]&&window[n].initialized)window[n].process&&window[n].process();else if(!e.getElementById(s)){var a=e.createElement(\"script\");a.async=1,a.id=s,a.src=i,r.parentNode.insertBefore(a,r)}}(document,\"script\",\"infogram-async\",\"\/\/e.infogr.am\/js\/dist\/embed-loader-min.js\");<\/script><\/p>\n<h2 id=\"portfoliodeals\">Portfolio Deals Making a Comeback<\/h2>\n<p>Though investment was mainly focused on single-asset transactions, there were a few major portfolio deals that made the news in 2016. However, portfolio volumes are lagging behind prior cycle levels, per <em>JLL<\/em>\u2014in 2006-2007, large portfolio deals drove activity in the office sector, without even taking the <a href=\"https:\/\/www.blackstone.com\/media\/press-releases\/article\/equity-office-agrees-to-be-acquired-by-the-blackstone-group\" target=\"_blank\" rel=\"nofollow noopener\">Blackstone-Equity Office merger<\/a> into account. Even so, the largest office sale of 2016 was a portfolio deal, with entity-level transactions expected to multiply\u00a0in the following years. We thought we\u2019d take a look at the most notable portfolio deals of the past year:<\/p>\n<div id=\"attachment_6554\" style=\"width: 650px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/03\/9905.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-6554\" class=\"wp-image-6554 size-full\" src=\"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/03\/9905.jpg\" alt=\"Greenway Plaza in Houston, part of Cousins Properties' merger with Parkway Properties (via Yardi Matrix)\" width=\"640\" height=\"512\" srcset=\"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/03\/9905.jpg 640w, https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/03\/9905.jpg?resize=150,120 150w, https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/03\/9905.jpg?resize=375,300 375w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><\/a><p id=\"caption-attachment-6554\" class=\"wp-caption-text\"><a href=\"https:\/\/www.commercialcafe.com\/commercial-property\/us\/tx\/houston\/11-greenway-plaza\/\" target=\"_blank\" rel=\"noopener\">Greenway Plaza<\/a> in Houston, part of Cousins Properties&#8217; merger with Parkway Properties (via Yardi Matrix)<\/p><\/div>\n<ul>\n<li><strong>Cousins Properties, Parkway Properties merge in $2B deal<\/strong> \u2013 The two companies struck a $1.95 billion deal in August of last year, to merge and spin off their <a href=\"https:\/\/www.commercialcafe.com\/commercial-real-estate\/us\/tx\/houston\/\" target=\"_blank\" rel=\"noopener\">Houston<\/a> assets into a separate REIT dubbed Parkway Inc. The Space City portfolio comprised five Class A office assets featuring 19 buildings, totaling roughly 8.7 million rentable square feet in the <a href=\"https:\/\/www.commercialcafe.com\/commercial-real-estate\/us\/tx\/houston\/greenway-upper-kirby\/\" target=\"_blank\" rel=\"noopener\">Greenway<\/a>, Uptown and <a href=\"https:\/\/www.commercialcafe.com\/commercial-real-estate\/us\/tx\/houston\/westchase\/\" target=\"_blank\" rel=\"noopener\">Westchase<\/a> submarkets, according to <em><a href=\"https:\/\/www.commercialsearch.com\/news\/ivanhoe-callahan-seal-895m-nyc-deal\/\" target=\"_blank\" rel=\"noopener\">Commercial Property Executive<\/a><\/em>. The cross-market portfolio also included assets in Florida, Arizona, Georgia, North Carolina and Pennsylvania.<\/li>\n<li><strong>Blackstone Grabs Alecta\u2019s $1.7B US Portfolio \u2013 <\/strong>In December 2016, Blackstone closed on the $1.7 billion acquisition of Swedish pension fund Alecta\u2019s U.S. real estate portfolio, adding 21 new assets to its holdings. The portfolio included office, retail, industrial and multifamily assets located in top-tier locations such as <a href=\"https:\/\/www.commercialcafe.com\/commercial-real-estate\/us\/ca\/san-francisco\/\" target=\"_blank\" rel=\"noopener\">San Francisco<\/a>, <a href=\"https:\/\/www.commercialcafe.com\/commercial-real-estate\/us\/il\/chicago\/\" target=\"_blank\" rel=\"noopener\">Chicago<\/a> and <a href=\"https:\/\/www.commercialcafe.com\/commercial-real-estate\/us\/dc\/washington\/\" target=\"_blank\" rel=\"noopener\">Washington, D.C.<\/a><\/li>\n<li><strong>Ventas Acquires $1.5B Wexford Science &amp; Technology Portfolio \u2013 <\/strong>Back in September, Ventas Inc. made the news with the $1.5 billion buy of Wexford Science &amp; Technology\u2019s 23-property life science and medical real estate portfolio, from affiliates of Blackstone Real Estate Partners VIII LP. The Class A assets total 4.1 million square feet and are leased to leading universities, academic medical center and research companies such as Yale University, the University of Pennsylvania Health System and Alexion Pharmaceuticals Inc.<\/li>\n<li><strong>Blackstone Affiliate Nabs Hines REIT\u2019s West Coast Portfolio \u2013 <\/strong>As part of its liquidation and dissolution plan, Hines REIT sold a seven-asset, 15-property office and retail portfolio to Blackstone affiliate Equity Office in November. The total price tag for the 3 million-square-foot portfolio, which included assets located in <a href=\"https:\/\/www.commercialcafe.com\/commercial-real-estate\/us\/ca\/los-angeles\/\" target=\"_blank\" rel=\"noopener\">Los Angeles<\/a>, <a href=\"https:\/\/www.commercialcafe.com\/commercial-real-estate\/us\/wa\/seattle\/\" target=\"_blank\" rel=\"noopener\">Seattle<\/a>, <a href=\"https:\/\/www.commercialcafe.com\/commercial-real-estate\/us\/ca\/santa-clara-county\/san-jose\/\" target=\"_blank\" rel=\"noopener\">San Jose<\/a> and <a href=\"https:\/\/www.commercialcafe.com\/commercial-real-estate\/us\/ca\/san-mateo-county\/san-mateo\/\" target=\"_blank\" rel=\"noopener\">San Mateo<\/a>, was $1.162 billion in cash.<\/li>\n<li><strong>Liberty Property Trust Sheds $969M Worth of Office, Flex Assets \u2013 <\/strong>In early October 2016, Workspace Property Trust, together with Dubai-based Safanad and affiliates of Square Mile Capital Management, closed on the acquisition of a 108-property portfolio from Liberty Property Trust. The portfolio included office and flex buildings and 26.7 acres of land in suburban markets in <a href=\"https:\/\/www.commercialcafe.com\/commercial-real-estate\/us\/pa\/philadelphia\/\" target=\"_blank\" rel=\"noopener\">Philadelphia<\/a>, <a href=\"https:\/\/www.commercialcafe.com\/commercial-real-estate\/us\/mn\/minneapolis\/\" target=\"_blank\" rel=\"noopener\">Minneapolis<\/a>, <a href=\"https:\/\/www.commercialcafe.com\/commercial-real-estate\/us\/fl\/hillsborough-county\/tampa\/\" target=\"_blank\" rel=\"noopener\">Tampa<\/a>, <a href=\"https:\/\/www.commercialcafe.com\/commercial-real-estate\/us\/az\/phoenix\/\" target=\"_blank\" rel=\"noopener\">Phoenix<\/a> and other areas in South Florida. WPT shelled out $969 million to acquire the assets, bringing its portfolio to 149 properties totaling roughly 10 million square feet.<\/li>\n<li><strong>Starwood Buys Stake in NorthStar Realty\u2019s Healthcare Assets \u2013 <\/strong>Starwood Capital Group paid $838 million to acquire 34 of NorthStar Realty Finance\u2019s medical office assets in December. NorthStar Realty looked to divest 20% of its portfolio in preparation for its merger with NorthStar Asset Management and private equity firm Colony Capital, which was completed in January 2017. NorthStar also unloaded a $1 billion stake in its healthcare portfolio to China-based Taikang Life Insurance back in November.<\/li>\n<\/ul>\n<h4 id=\"axacenter\"><\/h4>\n<h2 id=\"topdestinations\">Top Destinations for US Office Investments in 2016<\/h2>\n<h3>New York City Still Main Target for Office Investors<\/h3>\n<p>It should come as no surprise that the New York City\u00a0office investment market was the main target for office buyers\u00a0in 2016, accounting for $16.3 billion out of the top 50 largest sales alone. 18 out of the top 50 office deals closed in the Big Apple last year, and the buyer composition paints a very colorful picture. Alongside local and national buyers, offshore and cross-border investors pumped big money into the market, including Ivanhoe Cambridge, The Olayan Group, the Hong Kong Monetary Authority, China Investment Corp., China Life, Korea Post, Fimalac, HNA, Shanghai Municipal Investment and Allianz. A big chunk of deals closed in NYC were also partial stake interests, such as the 49% interest sales of 1095 Avenue of the Americas, 1211 Avenue of the Americas, <a href=\"https:\/\/www.commercialcafe.com\/commercial-property\/us\/ny\/new-york\/one-new-york-plaza\/\" target=\"_blank\" rel=\"noopener\">1 New York Plaza<\/a> and <a href=\"https:\/\/www.commercialcafe.com\/commercial-property\/us\/ny\/new-york\/11-madison-avenue\/\" target=\"_blank\" rel=\"noopener\">11 Madison Ave.<\/a> Though 17 out of the 18 NYC transactions in our top 50 closed in Manhattan, one Brooklyn sale also made the cut: the $340 million sale of Jehovah&#8217;s Witnesses headquarters at 25, 30, 50 and 58 Columbia Heights and 55 Furman St. The purchase of the 2.3-acre site by CIM Group, Kushner Cos. and LIVWRK was one of the largest office sales to ever close in the borough.<\/p>\n<div id=\"attachment_5261\" style=\"width: 650px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/02\/11-Madison.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-5261\" class=\"wp-image-5261 size-full\" src=\"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/02\/11-Madison.jpg\" alt=\"11 Madison Ave., New York (via Yardi Matrix)\" width=\"640\" height=\"800\" srcset=\"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/02\/11-Madison.jpg 640w, https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/02\/11-Madison.jpg?resize=120,150 120w, https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/02\/11-Madison.jpg?resize=240,300 240w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><\/a><p id=\"caption-attachment-5261\" class=\"wp-caption-text\">11 Madison Ave., New York (via Yardi Matrix)<\/p><\/div>\n<h3>Cross-Market Transactions Steal the Spotlight<\/h3>\n<p>There were 8 major cross-market transactions in our top 50 that closed in 2016, totaling in excess of $9 billion in sales volume. The priciest portfolio sale was Cousins Properties&#8217; $1.95 billion buyout of Parkway Properties&#8217; portfolio, which included a total of 19 office assets across 6 states. Blackstone&#8217;s $1.7 billion deal with Stockholm-based Alecta followed closely, while the third largest cross-market deal was Ventas&#8217; $1.5 billion purchase of Wexford Science &amp; Technology&#8217;s portfolio.<\/p>\n<h3>Boston Office Market Draws in Big Bucks in 2016<\/h3>\n<p>The <a href=\"https:\/\/www.commercialcafe.com\/commercial-real-estate\/us\/ma\/boston\/\" target=\"_blank\" rel=\"noopener\">Boston commercial real estate<\/a> market also managed to draw in a good amount of capital in 2016, with 3 office assets fetching a total of $1.8 billion on our top 50 list. The largest one was Alexandria Real Estate Equities&#8217; $725 million purchase of 1 Kendall Square, a 9-building office and retail campus, from DivcoWest. The second-largest deal to close in Beantown was the $630 million sale of 3 Blackfan Circle to the Blackstone Group in January. Last but not least, 101 Seaport Blvd. was acquired by Germany-based Union Investment Real Estate for $452 million.<\/p>\n<div id=\"attachment_6564\" style=\"width: 1010px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/03\/B0826A92-64AB-4ABB-9ADC-34932221B647.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-6564\" class=\"wp-image-6564 size-full\" src=\"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/03\/B0826A92-64AB-4ABB-9ADC-34932221B647.jpg\" alt=\"1 Kendall Square, Boston (via Yardi Matrix)\" width=\"1000\" height=\"800\" srcset=\"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/03\/B0826A92-64AB-4ABB-9ADC-34932221B647.jpg 1000w, https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/03\/B0826A92-64AB-4ABB-9ADC-34932221B647.jpg?resize=150,120 150w, https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/03\/B0826A92-64AB-4ABB-9ADC-34932221B647.jpg?resize=375,300 375w, https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/03\/B0826A92-64AB-4ABB-9ADC-34932221B647.jpg?resize=768,614 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/a><p id=\"caption-attachment-6564\" class=\"wp-caption-text\">1 Kendall Square, Boston (via Yardi Matrix)<\/p><\/div>\n<h3>Los Angeles Tops List of West Coast Office Markets<\/h3>\n<p><a href=\"https:\/\/www.commercialcafe.com\/blog\/la-county-office-report-total-sales-volume-hits-10-year-high\/\" target=\"_blank\" rel=\"noopener\">Los Angeles&#8217; office market<\/a> reigns supreme as the main target for investment on the West Coast, though only 2 local office deals made the top 50 list. The partnership between Douglas Emmett and the Qatar Investment Authority was all over the news in 2016, closing the largest office deal of the year in L.A. County&#8211;the $1.34 billion acquisition of <a href=\"https:\/\/www.commercialcafe.com\/commercial-property\/us\/ca\/los-angeles\/10880-wilshire\/\" target=\"_blank\" rel=\"noopener\">10880<\/a>, <a href=\"https:\/\/www.commercialcafe.com\/commercial-property\/us\/ca\/los-angeles\/the-tower\/\" target=\"_blank\" rel=\"noopener\">10940<\/a> and <a href=\"https:\/\/www.commercialcafe.com\/commercial-property\/us\/ca\/los-angeles\/10960-wilshire\/\" target=\"_blank\" rel=\"noopener\">10960 Wilshire Blvd.<\/a> and <a href=\"https:\/\/www.commercialcafe.com\/commercial-property\/us\/ca\/los-angeles\/westwood-center\/\" target=\"_blank\" rel=\"noopener\">1100 Glendon Ave.<\/a> Another notable transaction closed in October, when Edward J. Minskoff Equities closed on the $429 million purchase of 12181 and 12121 W. Bluff Creek Drive from J.P. Morgan Asset Management.<\/p>\n<div class=\"infogram-embed\" data-id=\"top_50_us_office_deals_of_2016\" data-type=\"interactive\" data-title=\"Top 50 US Office Deals of 2016\"><\/div>\n<p><script>!function(e,n,i,s){var d=\"InfogramEmbeds\";var o=e.getElementsByTagName(n)[0];if(window[d]&&window[d].initialized)window[d].process&&window[d].process();else if(!e.getElementById(i)){var r=e.createElement(n);r.async=1,r.id=i,r.src=s,o.parentNode.insertBefore(r,o)}}(document,\"script\",\"infogram-async\",\"https:\/\/e.infogram.com\/js\/dist\/embed-loader-min.js\");<\/script><\/p>\n<h3 id=\"blackstone\">Blackstone\u00a0Crowned Most Active Office Player&#8211;Again<\/h3>\n<p>A recent <a href=\"https:\/\/www.commercialcafe.com\/blog\/la-county-office-report-total-sales-volume-hits-10-year-high\/\" target=\"_blank\" rel=\"noopener\">CommercialCafe and Yardi Matrix analysis<\/a> showed that the Blackstone Group was the most active player buying and selling on the Los Angeles County office market in 2016. The company cashed in $1.3 billion on the Wilshire Boulevard and Glendon Avenue portfolio sale to Douglas Emmett and QIA (the county&#8217;s largest office sale of the year), a sale which included some of the remnants of its $39 billion buyout of Equity Office Properties Trust in 2007.<\/p>\n<p>Now, Blackstone emerges as the most active buyer on our top 50 nationwide office sales list as well. The private equity giant closed 5 separate deals (2 as Equity Office) for a total of $4.35 billion across the U.S. The largest deals closed by Blackstone were cross-market, portfolio transactions: the $1.7 billion, 21-property deal with Alecta and the $1.162 billion, 15-property acquisition of Hines REIT&#8217;s West Coast portfolio. Blackstone also acquired 3 Blackfan Circle in Boston for $630 million, 555 Market St. and 575 Market St. in San Francisco for $510 million, and an 80% interest in 655 15th St., NW., in Washington, D.C., for $353 million.<\/p>\n<div id=\"attachment_6563\" style=\"width: 650px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/03\/B05B523B-AFDA-4774-9179-77C65B70D045.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-6563\" class=\"wp-image-6563 size-full\" src=\"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/03\/B05B523B-AFDA-4774-9179-77C65B70D045.jpg\" alt=\"Center for Life Science, 3 Blackfan Circle, Boston (via Yardi Matrix)\" width=\"640\" height=\"800\" srcset=\"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/03\/B05B523B-AFDA-4774-9179-77C65B70D045.jpg 640w, https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/03\/B05B523B-AFDA-4774-9179-77C65B70D045.jpg?resize=120,150 120w, https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/03\/B05B523B-AFDA-4774-9179-77C65B70D045.jpg?resize=240,300 240w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><\/a><p id=\"caption-attachment-6563\" class=\"wp-caption-text\">Center for Life Science, 3 Blackfan Circle, Boston (via Yardi Matrix)<\/p><\/div>\n<p><em>Explore available listings and find the most sought-after office assets across all major U.S. markets with CommercialCafe.com!<\/em><\/p>\n\n<table id=\"tablepress-41\" class=\"tablepress tablepress-id-41\">\n<tbody>\n<tr class=\"row-1\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.commercialcafe.com\/office\/us\/tx\/houston\/\" rel=\"noopener\" target=\"_blank\">Office space in Houston<\/a><\/td><td class=\"column-2\"><a href=\"https:\/\/www.commercialcafe.com\/office\/us\/ca\/los-angeles\/\" rel=\"noopener\" target=\"_blank\">Office space in Los Angeles<\/a><\/td><td class=\"column-3\"><a href=\"https:\/\/www.commercialcafe.com\/office\/us\/pa\/philadelphia\/\" rel=\"noopener\" target=\"_blank\">Office space in Philadelphia<\/a><\/td>\n<\/tr>\n<tr class=\"row-2\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.commercialcafe.com\/office\/us\/tx\/bexar-county\/san-antonio\/\" rel=\"noopener\" target=\"_blank\">Office space in San Antonio<\/a><\/td><td class=\"column-2\"><a href=\"https:\/\/www.commercialcafe.com\/office\/us\/il\/chicago\/\" rel=\"noopener\" target=\"_blank\">Office space in Chicago<\/a><\/td><td class=\"column-3\"><a href=\"https:\/\/www.commercialcafe.com\/office\/us\/az\/phoenix\/\" rel=\"noopener\" target=\"_blank\">Office space in Phoenix<\/a><\/td>\n<\/tr>\n<tr class=\"row-3\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.commercialcafe.com\/office\/us\/tx\/dallas\/\" rel=\"noopener\" target=\"_blank\">Office space in Dallas<\/a><\/td><td class=\"column-2\"><a href=\"https:\/\/www.commercialcafe.com\/office\/us\/ca\/san-francisco\/\" rel=\"noopener\" target=\"_blank\">Office space in San Francisco<\/a><\/td><td class=\"column-3\"><a href=\"https:\/\/www.commercialcafe.com\/office\/us\/fl\/miami\/\" rel=\"noopener\" target=\"_blank\">Office space in Miami<\/a><\/td>\n<\/tr>\n<tr class=\"row-4\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.commercialcafe.com\/office\/us\/tx\/austin\/\" rel=\"noopener\" target=\"_blank\">Office space in Austin<\/a><\/td><td class=\"column-2\"><a href=\"https:\/\/www.commercialcafe.com\/office\/us\/tx\/fort-worth\/\" rel=\"noopener\" target=\"_blank\">Office space in Fort Worth<\/a><\/td><td class=\"column-3\"><a href=\"https:\/\/www.commercialcafe.com\/office\/us\/tx\/arlington\/\" rel=\"noopener\" target=\"_blank\">Office space in Arlington<\/a><\/td>\n<\/tr>\n<tr class=\"row-5\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.commercialcafe.com\/office\/us\/nc\/charlotte\/\" rel=\"noopener\" target=\"_blank\">Office space in Charlotte<\/a><\/td><td class=\"column-2\"><a href=\"https:\/\/www.commercialcafe.com\/office\/us\/nv\/las-vegas\/\" rel=\"noopener\" target=\"_blank\">Office space in Las Vegas<\/a><\/td><td class=\"column-3\"><a href=\"https:\/\/www.commercialcafe.com\/office\/us\/ga\/atlanta\/\" rel=\"noopener\" target=\"_blank\">Office space in Atlanta<\/a><\/td>\n<\/tr>\n<tr class=\"row-6\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.commercialcafe.com\/office\/us\/ma\/boston\/\" rel=\"noopener\" target=\"_blank\">Office space in Boston<\/a><\/td><td class=\"column-2\"><a href=\"https:\/\/www.commercialcafe.com\/office\/us\/co\/denver\/\" rel=\"noopener\" target=\"_blank\">Office space in Denver<\/a><\/td><td class=\"column-3\"><a href=\"https:\/\/www.commercialcafe.com\/office\/us\/or\/portland\/\" rel=\"noopener\" target=\"_blank\">Office space in Portland<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n<h2>Methodology:<\/h2>\n<ul>\n<li><em>Database: Yardi Matrix sales data and proprietary research<\/em><\/li>\n<li><em>Transactions recorded until Feb. 28, 2017<\/em><\/li>\n<\/ul>\n<p>By Ioana Neamt<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key takeaways: NYC&#8217;s AXA Equitable Center trades in largest single-asset deal of the year Asian investment accounts for 15% of the top 50 largest sales of 2016 Are portfolio deals making a comeback? Cousins-Parkway merger steals the show NYC, Boston, L.A. transactions fetch top dollar in 2016 Blackstone emerges as the year&#8217;s most active office&hellip;<\/p>\n","protected":false},"author":529,"featured_media":6374,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false},"categories":[37,38,39],"tags":[],"class_list":["post-6363","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-commercial-real-estate-news","category-deals","category-office","wpautop"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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