March 11th, 2012
The Chinese are replacing the Europeans in the New York commercial property market.
Chinese investors are displacing the European investors as the main source of external income for the Manhattan and New York commercial office market.
China’s oldest bank is expanding into office space in New York which has been vacated by European investment funds following on from the Eurozone crisis.
Bank of China has increased its loans which are outstanding on commercial offices to $2.6 billion, a jump of 500% since the start of 2008 and one that lends itself to becoming a major player in the USA.
Read the rest of this entry »
Tags: Manhattan office space, Manhattan offices, New York commercial property, New York office space, New York offices
Posted in News | No Comments »
March 9th, 2012
Macys.com has agreed a deal for an office in San Francisco.
One of Silicon Valley’s technology firms has agreed a lease deal in the Bay area after signing up to San Francisco’s flourishing South Market area.
Technology firm Macys.com has agreed a deal to lease commercial office space in San Francisco following an agreement with joint-venture partners TMG Partners and Rockwood Capital.
The deal will see Macys.com take on 242,600 square feet of office space which is located at 680 Folsom Street in the happening SoMa district of the Californian city.
Read the rest of this entry »
Tags: California office space, California offices, office space in San Francisco, San Francisco office space, Silicon Valley office space
Posted in News | No Comments »
March 7th, 2012
Savannah’s office market experienced a mixed 2011.
Commercial office property in one of the major cities in the southern USA has experienced a strange 2011, with the pluses and minuses cancelling each other out.
Office space in Savannah has held steady over the past 12 months despite a topsy-turvy period which has seen new offices open and others close in the various sub-markets.
West Chatham and Southside experienced positive growth in 2011 which the first time in three years that this had happened and was helped by the likes of Title Max and Wallenius Wilhelmsen Logistics taking on office space in the area.
Read the rest of this entry »
Tags: deep south offices, Georgia commercial property, Georgia office space, Savannah commercial property, Savannah office space
Posted in News | No Comments »
March 5th, 2012
Holliday Fenoglio Fowler has bought a Washington office.
Another commercial office property deal has been concluded in the Washington, DC area following news that Holliday Fenoglio Fowler have bought office space there.
A Washington, DC commercial property has been sold to Holliday Fenoglio Fowler for $147.5 million after a deal was reached with present owners Wereldhave USA.
It sees Holliday Fenoglio Fowler taking on more office space in the District of Columbia as the firm look to analyse all options available to them in a competitive office market.
Read the rest of this entry »
Tags: DC office space, office space in DC, Washington commercial property, Washington office space
Posted in News | No Comments »
March 4th, 2012
New York’s Federal Reserve Bank is to take on Manhattan office space.
A downtown Manhattan office property has been sold to one of New York’s largest banking institutions for a price quoted at just over $200 million.
The Federal Reserve Bank of New York City are going to buy a commercial property at 33 Maiden Lane in New York for a total deal worth $207.5 million.
Merit US Real Estate Fund III LP were the selling party as the Federal Reserve Bank of New York alter their status from leaser through to owner of the Manhattan office space.
Read the rest of this entry »
Tags: Manhattan office space, Manhattan offices, New York commercial property, New York office space, New York offices
Posted in News | No Comments »
March 2nd, 2012
Canada Pension Plan are to buy a stake in a New York office.
A leading North American retirement trust is looking to buy a significant minority stake in one of New York City’s commercial office properties.
One of Manhattan’s commercial office properties will have new investors after Canada Pension Plan Investment Board agreed to purchase a 45% stake in New York’s office market.
The Canadian pension fund have agreed to pay $57.4 million for the share in 10 East 53rd Street which is situated in midtown Manhattan’s Plaza district, putting the commercial office’s value at $252.5 million.
Read the rest of this entry »
Tags: Canada office space, Manhattan office space, New York commercial property, New York office space, Office space in Manhattan
Posted in News | No Comments »
February 29th, 2012
Lee & Associates have opened a new office in South Carolina.
One of the USA’s largest commercial property retailers has started 2012 by committing itself to new office space in South Carolina, making it the 46th office to be opened by them in the country.
Commercial property experts Lee & Associates have opened new commercial offices in Charleston, bringing their total amount of office properties within the USA to 46.
The move comes hot on the heels of the firm opening offices in Naples/Fort Myers in Florida as well as New York City in the fourth quarter of last year.
Read the rest of this entry »
Tags: Carolina office space, Charleston office space, Greenville office space, office space in Carolina, South Carolina office space
Posted in News | No Comments »
February 27th, 2012
RDRH Holdings have taken on ownership of a Missouri office building.
A Texas commercial property is the new owner of a former federal office in Missouri according to the president of the Texan firm who completed the deal last week.
Federal office space in Cape Girardeau has been acquired by RDRH Holdings for $325,015, meaning that the three year-old company has commercial office property outside of their native Texas.
The company are based in Austin and are run by Majid Hemmasi, who as well as being president of the company is also an architectural engineer, leaving him more than qualified to discuss the merits of office blocks.
Read the rest of this entry »
Tags: Austin office space, Cape Girardeau office space, Jackson office space, Missouri office space, Texas office space
Posted in News | No Comments »
February 26th, 2012
SEB has announced it is selling its office tower at 150 N Michigan Avenue, Chicago.
The 41 story building offers over 660,000 sq ft of office space and is to be the new home of Crain’s Chicago Business.
SEB has hired Jones Lang LaSalle to find a buyer for its 41 story office tower at 150 N Michigan Avenue, Chicago.
One of the most iconic buildings in Chicago, the building is famous for its slanted, diamond-shaped roof and is known locally as the “Adventures in Babysitting” building following its appearance in the 1987 movie. Purchased by SEB in 1999, 150 N Michigan Adventure is currently home to law firm SmithAmundsen LLC and is around 77% leased. Read the rest of this entry »
Tags: 150 N Michigan Avenue up for sale, Adventures in Babysitting Building Chicago, Chicago office space, Crain Communications Building Chicago, SEB to sell 150 N Michigan Avenue
Posted in News | No Comments »
February 24th, 2012
Grubb & Ellis Co. have filed for bankruptcy.
One of the most famous New York commercial property landlords has succumbed to the effects of the struggling economy by filing for bankruptcy protection.
Grubb & Ellis Co. have filed for bankruptcy protection in a move which also sees the firm sell the majority of its office portfolio to BGC Partners Inc.
Formed in 1958, the company has expanded from its California office property, with the firm having office space in over 40 US states as well as international offices.
Read the rest of this entry »
Tags: american office space, California office space, Grubb & Ellis, New York office space, US Office space
Posted in News | No Comments »
