Office

Property upgrades and redevelopments bolstered average asking rents to new highs.

The Canadian-based children's entertainment products company is doubling space within the LIC, Queens office loft.

Fareri Associates president John Fareri tells Globest.com that the first phase of the project would involve the development of approximately 500,000 square feet of space, including an approximately 135-room hotel, biotechnology-medical and retail space.

Diageo, which is headquartered in London, is investing $31 million in its new space at 3 World Trade Center and is eligible for up to $6.6 million in incentives via performance-based Excelsior Tax Credits from New York State Economic Development Corp.

“Fulton Market is continuing its transformation into one of the most sought-after areas in the country for prime office and retail space."

Gunston Commerce Center, a nine-building complex anchored by the GSA and other government contractors, was sold by I-95 Business Parks Management, which hired Avison Young last year to market the best-in-class industrial/flex business park for sale.

New Jersey's largest transit hub office complex is now under ownership by a single joint venture, which has plans for a significant repositioning of the Gateway Retail Concourse.

Backed by experienced ownership and as one of the only historic office buildings in downtown Houston, Esperson presented lenders with a one-of-a-kind opportunity as lenders remain active in the market.