In 2012, new office space deliveries in Budapest totaled 247,569sf – that’s a 74 percent drop from 2011 when 925,696sf of office space was delivered and a 92 percent decrease from 2009 when developers delivered approximately 3.23msf of office space … Continue reading →
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 →
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 →
Location Group – a Swiss retail development and consulting firm – is introducing eLocations.com – a global online retail property database, according to melodika.net. This exchange platform will focus on AAA A specially designed external vacuum pump with a viagra … Continue reading →
A subordination, non-disturbance and attornment (SNDA) agreement serves three functions: 1. Subordination: The agreement will place the lender-mortgagee’s lien on the property in first position even if a lease predates the recording of the mortgage lien. 2. Non-disturbance: The agreement … Continue reading →
The Housing Choice Voucher program is a federally funded, locally administered rental assistance program that assists low-income families, the elderly and the disabled to obtain housing in the private market. The program falls under the purview of the U.S. Department … Continue reading →
Industry practitioners discussed Washington’s retail market yesterday at Bisnow’s Retail Real Estate Summit. Jessica Bruner of Edens noted that the Millennial Generation is demanding a higher level of sophistication for retail located in the office buildings where they work and … Continue reading →