Premier Office commercial real estate news, analysis, trends and information including occupancy, rent, design, office space use and construction deals and players.
As the Bay Area braces for the impending IPO onslaught, San Francisco multifamily rent continues to skyrocket, with one bedrooms reaching an all-time high of $3,690, the most expensive in the world by a hefty margin.
Franco, 50, who has been with Vornado since 2011, was one of a number of what Vornado chairman and CEO Steven Roth termed as “important and even generational” changes in its senior management in his annual letter to shareholders in the company's 8K filing with the SEC on Friday.
The fully-leased building is the closest privately-owned laboratory/office building to Harvard University and is situated within walking distance of the Massachusetts Institute of Technology.
“This was a very challenging lease transaction with competition from two other buildings in Waterford at Blue Lagoon, both capable of accommodating Parbel's requirements,” says C&W's Mendoza.
Two-thirds (22 of 33) of the submarkets in the metro recorded positive absorption in the fourth quarter with The Woodlands representing the top performer at 602,236 square feet and more leasing to follow.