Premier Office commercial real estate news, analysis, trends and information including occupancy, rent, design, office space use and construction deals and players.
MCLEAN, VA-Temporary office space provider Teqcorner gets four new tenants. Area demand for turnkey, temporary digs continues to be a growth market despite a dramatic decrease in the number of start-up companies.
AUSTIN-A New York investor steps up to buy a 9,214-sf building along Camp Craft Road. The buyer gets a tenant signed to a five-year lease. ASC Management was seeking $1.7 million for the one-year-old structure.
HOUSTON-The Houston law firm of Jones, Day, Reavis & Pogue will move into 54,600 sf on the top two floors of the 689,000-sf CBD high-rise. The signing pushes the project to 56% pre-leased.
SOUTHBOROUGH, MA-The Archon Group sells 120 Turnpike Rd to TA Realty Associates for $11.7 million or $148 per sf. The building is fully leased with good credit tenants.
AUSTIN-In all, 11,776 sf is spoken for in a submarket with a 17.5% vacancy. Celite Systems, which already occupies 11,156 sf, took another 3,476 sf from Sun Microsystems at Lakewood on the Park.
NEW ROCHELLE, NY-An affiliate of GHP Office Realty of White Plains reports it has purchased 145 Huguenot St., a 300,000-sf office building in downtown New Rochelle.
AUSTIN-The Scheffe Group is actively looking at two sites in Bee Cave and one in Austin's northwest submarket. The next project will have a bigger footprint than the 25,000-sf Juniper Ridge.
PHOENIX-Brookwood Financial Partners closes on its first Phoenix deal this year, a 181,629-sf office building. The owner of three other Arizona properties plans to spend up to $100 million in the next 18 months in the state.
ORLANDO-In Central Florida's biggest office deal of the year, Inland Real Estate Acquisitions Inc. of Oak Brook, IL paid an estimated $88 million for 440,000 sf of class A space in three of the four existing office buildings at the 109-acre Celebration Place Office Park in Celebration, FL, 20 miles south of Downtown Orlando.
WESLEY CHAPEL, FL-The Pasco County Commission has just given the go ahead for the proposed Cypress Creek development, a multi-faceted project that would bring a hotel, office space, retail space and residential units to the largely undeveloped area.