Premier Office commercial real estate news, analysis, trends and information including occupancy, rent, design, office space use and construction deals and players.
RANCHO BERNARDO, CA-Sunroad Centrum picks up the 71,255-sf property from R.B. Phoenix Associates LLC as part of a 1031 Exchange transaction. The three-story complex is located at 11770 Bernardo Plaza Ct. in San Diego.
PARSIPPANY, NJ-The company's Global Pharmaceutical Group is using the top three floors at SJP Properties' Morris Corporate Center IV as a regional sales office. GVA Williams put the deal together for the tenant.
CAMBRIDGE, MN-The project, which requires funding from the Minnesota Legislature, would tear down two temporary buildings and build a new 34,200-sf addition.
LONDON-Greycoat subsidiary City Offices and the German fund CGI have let the 15,600-sf One Paternoster Square, London EC4 to Lexicon Partners at a rumoured pounds 50 ($85) per sf.
LONDON-Land Securities Trillium, the outsourcing subsidiary of Land Securities, has reached agreement with the Department for Work and Pensions to expand its existing property outsourcing agreement to include the 9 million-sf former Employment Service Estate.
HOUSTON-Transwestern Commercial Services wins the contracts for Westbridge One, a 103,835-sf, class A office building sold about three months ago. Three other brokerage houses were vying for the pacts to an 81%-leased structure on the west side of town.
MEMPHIS, TN-BGK Group of Santa Fe, NM acquires White Station Tower in East Memphis from Kaufman Realty Group of Atlanta. The anchor tenant of the multi-tenant property is I-bank, a Memphis-area financial institution that keeps its headquarters in the building.
DALLAS-The region gets a show of promise from an industrial market posting a quarterly gain for the first time in a year despite a year-to-date absorption that's still in the red. As for office, the best that can be said is it's "losing less blood today ... than before.
FRAMINGHAM, MA-Five tenants lease 21,964 sf of space in the Meadows at 161 Worcester Rd. on Route 9 in the the city's retail center. A broker involved says that the deals demonstrate that the MetroWest market is turning.
GLENN DALE, MD-The 316,000-sf Glenn Dale Business Center opens its doors to a new tenant with disaster services concern Popowski Brothers Inc.'s leasing of 9,200 sf of space.