Premier Office commercial real estate news, analysis, trends and information including occupancy, rent, design, office space use and construction deals and players.
JERSEY CITY, NJ—The firm anticipates 2016 dispositions to total approximately $730 million, consisting of 27 office buildings totaling 4.5 million square feet and one residential building with a GAAP NOI yield of approximately 5.5% overall.
HOUSTON—Tenants have shown a commitment to the property for its accessible and amenity-rich location, as well as its affordability compared to surrounding submarkets such as the CBD and Galleria.
WASHINGTON, DC--JP Morgan Asset Management will be the investment manager of the fund, which is also focusing on New York, Boston, Chicago, San Francisco and Los Angeles.
MIAMI—“With growing demand and no new supply, rental rates and occupancies in the Fort Lauderdale CBD are expected to continue to grow well into the future.”
WHIPPANY, NJ—Named for its previous use, The Powerhouse opened this month, offering enhanced gourmet food services, a multi-function lounge, conference room and a health and wellness center.
GARDEN CITY—Spread across a portfolio of office buildings and a four-property development here, the agreements all were renewals and—in some cases, expansions.
DALLAS—Velocis purchased the property in 2012 and invested $1.5 million in property renovations, with substantial upgrades made to all six floors of the building and the parking garage, which resulted in positioning for a recent sale.