Become a GlobeSt influencer! Learn about our latest recognition opportunities highlighting the individuals, firms and teams changing the commercial real estate landscape.
Premier Office commercial real estate news, analysis, trends and information including occupancy, rent, design, office space use and construction deals and players.
AUSTIN-Rising office vacancy has hit the pocketbook of building owners, with rent dipping 42 cents per sf between first quarter and Q2 closings. The average now rests at $27.15 per sf, with the CBD being hardest hit as rates plummet $4.20 per sf.
SAN DIEGO-The dot-com meltdown fluffed up the county's office vacancy in the first six months of the year, according to statistics from CB Richard Ellis.
WASHINGTON, DC-CarrAmerica Urban Development LLC, a subsidiary of CarrAmerica Realty Corp. has been selected to assist in developing a second headquarters for the International Monetary Fund adjacent to its current headquarters.
COSTA MESA, CA-Three of the projects are in Orange County and two are in LA. The deals cover a combined 780,000 sf of space. The others are in LA County, San Diego County and Sacramento.
FAIRFAX, VA-Brookdale Investors Two LP has sold its Greenbriar Corporate Center here for $15 million. Carr Capital led a private investor group to acquire the building, which is located in the Fairfax Center submarket.
EAST HARTFORD, CT-Lend Lease Real Estate Investments has sold the four-building portfolio here to Baker Properties. CB Richard Ellis represented Lend Lease and Baker Properties in the transaction.
BELLEVUE, WA-The locally based Laptop Lane has announced the opening of its newest business center at Seattle-Tacoma International Airport. The new Laptop Lane location in the North Satellite, between gates N8 and N9, is the ninth store the company has added this year.
AUBURN HILLS, MI-In a new twist, the company is moving out of business-friendly Auburn Hills after receiving a $1.7-million tax abatement for 10 years from Southfield. Kirco Development of Troy will build an $11-million facility.
LONDON-The Portfolio Property Fund has bought 52/54 Southwark Street, London SE1 from the Milton Group to show an equivalent yield of 8.65%. The fund has now bought 11 properties, and also invests in property company shares.
MIAMI-A new report by Cushman & Wakefield of Florida Inc. shows vacancies at 14.6% in Broward, up 1.1%; and 14.2% in Dade, up 2.9%. Palm Beach County's vacancy rate moved down slightly in the second quarter from 12.9% to 12.8%.