US Commercial Real Estate
WeWork Signs Its Biggest One-Time Manhattan Office Lease This Year, Capping Push in Largest U.S. Market
Thu, 16 Aug 2018 08:00:00 GMT
21 Penn Plaza.Shared office space provider WeWork signed its biggest one-time Manhattan office lease so far this year, capping a push in its hometown of New York City, the nation's largest office real estate market. In a partnership with TH Real Estate, an affiliate of TIAA’s investment management arm Nuveen, WeWork has leased 258,344 square feet at 21 Penn Plaza, which is also known as 368 Ninth Ave. That’s nearly 70 percent of the 16-story building...
Savannah Historic District to Get Major Project, Swelling Development Surge in Georgia's Oldest City
Thu, 16 Aug 2018 07:45:00 GMT
A New York developer is set to turn an old Savannah, Georgia, industrial site into one of the largest projects in the local Historic District, extending a surge of development in a city struggling to keep its charm while taking advantage of its growing national popularity. Spandrel Development Partners, a real estate investment and development firm, will start construction this month on 630 Indian St., a project that will comprise 275 luxury multifamily...
LaSalle Canadian Property Fund Reaches $1 Billion
Thu, 16 Aug 2018 06:33:57 GMT
Minto Place at 180 Kent St. in downtown Ottawa.LaSalle Investment Management has reached $1 billion in assets in its Canada property fund, purchasing a Calgary shopping centre for $56.25 million and buying one-third of Minto Place in Ottawa for $135 million, as first reported by CoStar News. On July 31, the fund acquired Market at Quarry Park on a wholly-owned, all-equity basis. The grocery-anchored shopping centre in the Quarry Park neighbourhood...
Open Office Spaces Must Evolve to Compete in a WeWork World, Experts Say
Thu, 16 Aug 2018 04:15:00 GMT
Projects like the new Ampersand, in San Diego’s Mission Valley, seek to offer office configurations and amenities to compete with providers such as WeWork. Credit: Casey Brown Co.The long-hailed concept of “open” office plans is getting pushback amid complaints about a lack of privacy and unwanted workplace interruptions, prompting developers and designers to scramble to figure out how to provide the latest corporate perk: Alone time. The concerns...

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