Office

“Northland recognized the irreplaceable nature of this asset, which marks their entry into the Denver market."

"We believe the acquisition provides diversity and attractive risk adjusted value for our investors and we anticipate continuing to pursue actively investment opportunities in the London market.”

The 10-year lease deal with FMCG Direct, a Deluxe Financial Services Co., involves a total of 21,229 square feet encompassing the entire 37th floor of the 1.1-million-square-foot tower.

In New York City's Chelsea neighborhood alone, Knotel has been responsible for nearly 30% of all deal activity since January, the company states.

Job growth, organic business growth and the outsiders' view of the value of Chicago real estate are positives, but higher property taxes loom.

The office market in the second quarter fell below pre-recession levels to 10.6%, and it is on the way to hitting single digits.

Office leasing activity grew to 1.9 million square feet in the second quarter, but still fell short of the 2.1 million square foot historical average.

Based on Buchanan Street's research, the firm decided to make improvements to the property's dated buildings with flex/R&D office repositioning via updated spaces for research and labs prior to the sale.