Office

Piedmont Office's president C. Brent Smith says the REIT is pleased it sold the 334,000-square foot building because it reduces its exposure to the Southwest DC submarket.

The site is currently planned for the development of approximately 560,000 square feet of office space and is located along the pedestrian bridge to MARTA's Buckhead station adjacent to a number of dining, retail, high-rise residential and hotels properties.

The 146,979-square-foot property was 65.7% leased at closing.

The new American mobility is often driven by cost-of-living issues and life cycles. So where are the best returns for investors and developers capital?

The property is currently 76% occupied. Bridge Investment Group, which acquired more than 6 million square feet of space in the US in 2018, says it plans to undertake a $5-million capital improvement program at the campus.

Hollinden was previously a transaction manager in Colliers' Corporate Solutions Group, responsible for delivering integrated portfolio transaction management, project management and advisory services to clients nationwide.

Co-working is just taking off in San Diego and Orange County, but the two markets have a very different view of the flexible office model.

Recent commitments of 187,300 square feet at the 313,000-square-foot class-A 3400 at CityLine bring the building to 60% leased, with remaining space negotiations underway by Transwestern.