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 →
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 →
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 →
On December 11, Neyer Properties purchased two downtown Cincinnati Class A office buildings (Centennial Plaza I & III) in auction for $3.5 million, according to Commercial Property Executive. The seller, New Boston Centennial, paid $13 million for the properties in 1999. Centennial … Continue reading →
Business Process Outsourcing (BPO) accounts for 80-90 percent of the office space rented in the Philippines, according to South China Morning Post. This booming industry, which is fueling one of the fastest growing economies in Asia, is expected to double … Continue reading →
As of November 14, thirty-two buildings in lower Manhattan (27 percent of downtown’s 100 million square feet of office space) remained closed in the aftermath of Superstorm Sandy,
Continue reading →The Hyatt Regency will fill in the hotel component of a new mixed-use development at Tysons Corner Center, located about 10 miles west of Washington, DC. The 17-floor, 300-room hotel will open in 2014 and will offer almost 16,000sf of … Continue reading →
The University of Chicago is working with the city and private developers to redevelop the 53rd Street retail district north of its Hyde Park campus, according to The New York Times. The $250 million Harper Court project (at the corner … Continue reading →