Boston Properties plans to demolish the NPR headquarters building at 635 Massachusetts Avenue NW in Washington this spring to make way for a new 480,000sf, 11-story building. Arnold and Porter LLP recently signed a 20-year lease taking 375,000sf of the … Continue reading →
Philadelphia’s largest office sector expansion for 2012 was Drexel University’s lease of an additional 119,000sf (186,000sf total) at Three Parkway in Center City Philadelphia, according to Commercial Property Executive. The university signed a ten-year lease bringing the 561,400sf property to … Continue reading →
Microsoft will continue to open retail stores in an effort to emulate Apple’s successful retail presence. It currently has over sixty stores throughout the U.S. and Canada with six additional stores slated to open in the following locations: Beachwood Place … Continue reading →
Landlords and retailers are saving money by transferring the review and payment of utility bills to third-party firms such as Ecova. Regency Centers, which at one point received 4,200 utility bills per month, is saving about $160,000 by outsourcing bills, … Continue reading →
Net present value (NPV) is the difference between the present value of a time series of cash inflows and the present value of a time series of cash outflows (or initial investment and fees). Present value is calculated as follows: … Continue reading →
The Navy Annex in Arlington County, Virginia is being torn town and the 42-acre site on which it stands will become part of Arlington National Cemetery, according to The Washington Post. Built in 1941 as temporary warehouse facility, the annex … Continue reading →
Joseph Sitt of Thor Equities recently purchased a 35,000sf retail portion at 680 Madison Avenue for $277 million, according to The Wall Street Journal. Before the recession, rents on Madison Avenue between 57th and 72nd streets were as high as … Continue reading →
The due diligence period in a commercial building sale is usually 45 to 60 days, during which the buyer and the broker work together to study the property. The factors to study include: Building Inspection: Structural and mechanical components must … Continue reading →
Investment sales improved in 2012 compared with 2011. Year-to-date volume is at $225 billion, according to John Salustri, quoting data from Real Capital Analytics (RCA). November volume stood at $19.5 billion – a 40 percent increase over November 2011. RCA … Continue reading →
A zero cash flow property (“zero property”) is a property with a long-term (20+ years), stable lease by a credit tenant attached to it. The investment is highly financed and all of the rent usually goes to the lender. Values for zero … Continue reading →