Premier Office commercial real estate news, analysis, trends and information including occupancy, rent, design, office space use and construction deals and players.
SCOTTSDALE, AZ-GE Capital and Goldman Sachs have agreed to provide about $7 billion of liquidity for the Scottsdale-based Finova Group, pending the outcome of due diligence. The construction lender has been in Chapter 11 bankruptcy since March.
SAN FRANCISCO-Gray, Cary, Ware & Freidenrich leased about 34,000 sf in an office building now under construction directly across the street from Pac Bell Park and adjacent to Mission Bay. The law firm is headquartered next door to the site.
COSTA MESA, CA-A locally based developer has acquired a 1.6-acre parcel in Costa Mesa, in a deal valued at $1.3 million. The company plans to build a 26,000-sf office and retail project on the site.
DULLES, VA-The Internet provider that sparked a technology tenant revolution in the Northern Virginia market, making it a destination location, is suffering from the same technology crash. It's impact on the climate here could be huge.
SAN FRANCISCO-Several refurbished buildings are set to come back online this summer the heart of San Francisco's downtown business district. One of them, on Taylor Street, has been fully leased to ABM Industries. The others are actively marketing their space.
DALLAS-The infrastructure is in place and the development door is wide open for a 110-acre tract in Las Colinas. Property owner Olympus Real Estate has hired CB Richard Ellis to market the land. The first deals should close by year-end.
LOS ANGELES-Soaring temperatures across the state are expected to cause a second straight day of outages today. More than 100,000 commercial and residential property owners lost power Monday.
SAN FRANCISCO-Dan Harvey and Jim McPhee have completed more than 400 transactions valued well in excess of $1 billion dollars since beginning their partnership in 1987. They are now senior vice presidents with Jones Lang LaSalle.
HOUSTON-An ad agency's downsizing has sparked a tenant shuffle in the 25-story BHP Tower. McCann-Erickson has subleased its space, inked a bridge lease and a more permanent pact all for the same building.
ARLINGTON, TX-The Southwest BOMA Region has its TOBY picks ready to head to the national competitions in Baltimore. The 15-year-old Brookhollow II's property manager is optimistic it will win its category.